Italian startup container line Kalypso has filed for bankruptcy following a collapse in freight rates and the disruption of its services to Israel, reported Italian media.

As the EU Emissions Trading System (EU ETS) became enforceable from 1 January conflict in the Red Sea has seen many vessels divert to the much longer route around the Cape of Good Hope, both impacting container freight rates.

The EU’s Emission’s Trading System for shipping, the resurgence of piracy, and electronic trade documentation are all trends to keep a watchful eye on in the new year according to Keystone Law.

The situation in the Red Sea, with vessels switching to longer voyages to avoid attacks, has been the subject of considerable commentary.

Three container ships, one each from MSC, Maersk and CMA CGM, were identified on VesselsValue AIS heading south in the Suez Canal towards the Red Sea danger zone despite the carrier’s saying they had re-routed vessels around the African Cape.

Singapore-based Wilhelmsen Ship Management (WSM) and MPC Capital are buying third-party manager Zeaborn Ship Management.

A sign that times are changing is that young people believe that all people are equal and that diversity is a given, according to Elpi Petraki who has spent over 20 years in the maritime business.

Over 60% of Seatrade Maritime News readers expect the container shipping market to take three or more years to recover from its current downturn.

The Union of Greek Shipowners (UGS) has appealed to national governments to support the IMO decisions taken to tackle the green transition so that they are universally accepted.

Container line consortium THE Alliance (THEA) has announced that its winter programme, which includes the suspension of Pacific and Asia – Europe loops, will continue into next year, while its 2024 service offering will begin in April.