The idle container ship fleet has contracted again as the crises in the Red Sea and Panama Canal suck capacity into service diversions and distort the market, as newbuildings arrive to alleviate tonnage crunch.

CIMC, COSCO Shipping Kansai, CAI, CXIC, Xchange and Touax Container Leasing are among prominent companies confirmed to exhibit at Intermodal Asia 2024, which will take place from 22 – 24 May 2024 at SWECC, Shanghai.

Chinese automobile manufacturer BYD is planning to put seven new car carriers into operation in the coming two years to meet the growing export demand.

Shipping technology firms ZeroNorth and Alpha Ori Technologies have received regulatory approvals for their merger and will integrate under the brand ZeroNorth.

Container lines and their clients are engaging in their annual pre-contract rate dance, aided, to a certain degree, by analysts’ forecasts on the state of the industry.

SeaLead and Blue Water Line are rolling out a new service connecting Indian ports with Saudi Arabia, UAE and Oman.

Mitsui OSK Lines (MOL) has completed a carbon insetting trial with 123Carbon that aims to allow customers to reduce their Scope 3 emissions.

The Chinese private shipbuilder, Yangzijiang Shipbuilding, has entered into a contract with Danaos Corporation for the construction of two methanol-ready 8,258 teu container ships.

CMB.TECH has announced the order of the world’s first ammonia-powered container vessel in partnership with Yara Clean Ammonia, North Sea Container Line and Yara International.

Geopolitics, regional conflicts, and the prospect of more global unrest continues to limit the supply of ships for recycling.