Freight rate indices are sending mixed messages but most of the latest indicators show a steady decline in rates as lines and shippers negotiate annual contracts on the transpacific.
One the most noticeable changes attending Singapore Maritime Week from 12 months earlier was how much further ammonia has moved up the agenda as a zero-carbon fuel for the future.
Pacific International Lines (PIL) has introduced two revamped weekly direct services, connecting key ports in China, Singapore, with Brazil, Argentina, and Uruguay.
Japanese feeder operator Imoto Lines has partnered with Japanese technology company Marindows to build a zero-emission boxship with swappable batteries.
International Maritime Organization (IMO) has set a target of a 20% reduction in total GHG emissions by 2030, striving for 30%; but there are doubts from some that the industry can meet this ambition.
