Dr Anil Sharma, founder and CEO of Global Marketing Systems Inc (GMS), is forecasting a significant increase in the number of container ships and bulk carriers heading for recycling yards as result of the IMO’s CII carbon intensity regulation.

COSCO Shipping Specialized Carriers is to purchase seven bulk carriers from COSCO Shipping (Xiamen) at a total cost of RMB908m ($133.9m).

Despite all the talk in recent years about the corporatisation of shipping the family-owned business remains a very key part of the industry with younger generations moving through and taking control.

In a discussion on where shipping markets were headed in 2023 the container sector is still waiting to settle on a new normal, while volatile bulker and tanker markets make investments in newbuildings uncertain.

Dubai-based Lila Global, the shipowning subsidiary of the world’s largest cash buyer of end-of-life ships, GMS, has appointed Stephen Kunzer as its new CEO.

Japanese shipowner NYK is warning of a challenging year ahead as its container shipping joint venture Ocean Network Express (ONE) faces a “tidal wave”.

There will be a change in top leadership at Japanese shipowner NYK from 1 April 2023.