ZIM has taken a $3 billion punt that demolition and emissions regulations allied with a more flexible charter market and economic growth will create drivers that will bring a better supply and demand balance to the market in 2025.
The maritime industries are undergoing a revolution in terms of technological advances but faces challenges of cost and talent in realising their full potential according to a senior executive from DP World.
Shipping line ZIM is diverting some of its container ships from transiting the Arabian and Red Seas due to the security threat to Israeli-linked vessels.
DP World and the International Renewable Energy Agency (IRENA) have signed a cooperation agreement to accelerate the use of renewable energy and cut emissions from the ports and maritime logistics sector.
Israeli-linked vessels have found themselves in the crosshairs of Houthi rebels and increased security threats while sailing in the Red and Arabian Seas.