Wilhelmsen Ship Management (WSM) is re-entering the crude tanker segment a decade after it exited with the sale of ITM Ship Management.
The expanded Panama Canal saw container trade switching from the US West Coast calls, with landbridge connections inland, to calls on the East Coast, however, higher fuel costs associated with the IMO’s 2020 sulphur cap could drive up to 1.2m teu of trade back to West Coast ports.
Whilst many people believe that the IMO’s ambition to reduce shipping’s 2050 carbon emissions by at least 50% compared with 2008 levels appears to be an almost impossible target, shipping economist Martin Stopford does not agree.
The year has not started off well or the shipping industry and the cause of marine safety. The fatal fire aboard the vehicle carrier Sincerity Ace cost the lives of five seafarers and will have destroyed 3,600 cars and most probably the vessel herself.
The enforcement of the IMO’s 2020 low sulphur regulations will have a “crucial bearing” on the success of the maritime transport industry according to MOL chief Junichiro Ikeda.
In the second part of most read stories by month in 2018 on Seatrade Maritime News we look at July to December.
As 2018 draws to a close we take a look at what were the top stories each month on Seatrade Maritime News. This week we look at January through to June, with July to December to follow next week.