testata inforMARE
Cerca
15 September 2025 - Year XXIX
Independent journal on economy and transport policy
15:50 GMT+2
LinnkedInTwitterFacebook
FORUM of Shipping
and Logistics



Shipping and Shipbuilding Markets in 2002

I N D E X




The dry bulk market in 2002

 

The freight market:
     Capesize - Panamax - Handymax & Handysize
The second-hand market:
     Capesize - Panamax - Handymax & Handysize
 

The dry bulk shipping market finished the year 2002 taking all sizes into account at levels that had not been seen since the end of 2000, at a time when the overall economic conditions were far more favourable. At the beginning of the year nothing indicated such a sprightly resurgence, and few analysts would have stuck their necks out to predict freight rates around $25,000 per day for modern Capesizes. As in other sectors of the shipping market, everyone was betting on a recovery of the American economy, and in its wake that of countries in the European Union, occurring during the course of the second half of 2002. This was by no means the case, and the uncertainties linked to the American intervention and their allies in Iraq, more than ever casts a pall over the world economy and the confidence necessary for a rebound. Japan is for its part still stuck in its quagmire which has been going on for several years.

The factors that have contributed to the rise in freight rates during the year, mainly with effect from September, are essentially:

  • a significant increase in raw materials into China, Japan and other South East Asian countries ; whilst total world growth has been flat the exception is China which registers annual increases in GNP of the order of 7,5 %.

  • a decrease in the number of newbuildings coming onto the market compared to previous years, at least as concerns the Capesizes and Panamaxes.

  • a steady increase in the cost of bunkers, which was caused initially by the policy of reducing OPEC production, and secondly by the fear of conflict in the Gulf.

  • at the end of the year, shutdown for maintenance of some Japanese nuclear power stations, resulting in a sizeable increase of steam coal imports.

We will attempt a rapid tour of the main events in the dry bulk market over the course of the past 12 months. For reference, the Baltic Dry index which began the year at 876 points ended at 1739, the highest level since November 2000.

Based on the statistics published by IISI at the end of January 2003, world crude steel production has totalled slightly over 900 million tons in 2002, an increase of 6,4 % over 2001. The lion's share of this rise is due to China producing 181 million tons, compared to 150 million in 2001, or an increase of 20,3 %. For comparison, in 1995 Chinese steel production was 95 million tons and was below that of Japan's 101 million tons. In 2002, Japanese production reached 107 million, an increase of 4,7 % compared to 2001, an impressive achievement if we consider the lethargy of the Japanese economy. Production in the E.U. only increased by 0,1 %, and to illustrate the contrasting situations, French production increased by 5,6 %, whereas Germany was only able to come up with a modest rise of 0,4 %. The restrictive measures taken by the U.S. seem to be taking effect since after months of declining production, American steel figures for 2002 finished with an increase of 2,5 % over 2001 with 92 million tons. Japanese and Korean steel producers who fed the Chinese market throughout the year, helped alleviate the American and European markets, thus allowing steel prices to find their levels of the first quarter 2000 after two years of decline. With steel production being the driving force of the Capesize market, the higher production levels were bound to have an influence on freight rates.

The healthy standing of the Capesize market was partly due to the growth in Chinese imports of iron ore. Based on provisional figures these should exceed 110 million tons in 2002, 20 million more than in 2001. In addition, the share of Chinese imports coming from Brazil should represent 27,1 % of the 2002 total, compared to 17,3 % in 1998, thereby stretching the ton/miles. If this trend continues, in a short time Chinese imports of iron ore will surpass that of the E.U. and of Japan. Still in the realm of raw materials, Japan was obliged to import nearly 6 million tons of additional steam coal over the period September 2002 to April 2003, following the shutdown of 9 nuclear power stations out of a total of 18, run by Tokyo Electric Co. which helped to sustain the Panamax market in the Pacific during the fourth quarter. In the case of cereals, Australia suffered one of its worst droughts in history and its crop was halved, thus redirecting imports from the South East Asian countries. Grain trade according to the International Grain Council should remain stable for the 2002-2003 season around 207 million tons.

In the industrial sector new mergers were formed in 2002. In Japan, NKK and Kawasaki Steel united forces in a new entity, JFE Steel, which initiates the first merger in the steel industry in the country and follows the example within the European scene which underwent a profound restructuring two years earlier. The combined production of the two companies totals some 28 million tons. At the same time, NSC, Sumitomo Metals and Kobe Steel have entered negotiations in view of getting together. And still within the steel sector, US Steel made a proposal to take over National Steel for $750 million but as yet unconfirmed. Also to be noted is the intended acquisition of the aluminium division of Corus by Pechiney.

Finally, at the end of the year, the IMO against the better judgement of certain countries, decided to impose double-hulls on vessels over 150 meters for all newbuildings. This ruling still has to be ratified within the context of the SOLAS convention by January 2004 at the latest. Certain owners having anticipated this decision, placed orders for double-hulled ships already during the course of the 2002.
 


 

Parallel to the increase in freight rates over the year, one should not forget the rise in bunker prices. The price of IFO 380 cst went from $100 per ton in January, basis delivery Rotterdam, to over $150 per ton in December, which corresponds for a Capesize to an increase of 50 cents on an average freight rate of $ 8,15 on a voyage Brasil ' Rotterdam.
 

To appreciate the movement of freight increases in the Atlantic we can cite a few examples. On the iron ore route from Brazil to China, rates went from $ 6/ton in January to $ 7,50 on average from March to August, to finish the year at $ 13,50. Transatlantic cargoes took off from $ 4 at the beginning of the year to fix at over $8 twelve months later. This hike was also repeated within the coal market out of South Africa. At the start of 2002, cargoes were fixed to North Europe at under $ 5 per ton, to achieve $ 8 at the end of September, and finish the year at above $10. In the Pacific, there was a similar phenomenon despite the fact that the Atlantic market benefited with a premium over the Pacific basin. Freights on the iron ore route from Australia to China doubled between January and December. Backhaul routes however suffered from the drop in liftings of minerals from Australia to Europe. This strong rise in rates was even more pronounced on the time-charter market. Modern large ships, fixed for fronthaul trips with delivery Rotterdam to the Far East via Brazil were achieving $ 8,000 in January and ended the year above $ 26,000. Modern ships of 170,000 dwt chartered for 12 months witnessed their rates reach over $ 18,000 at the end of the year, some $ 7,000 more than they could expect in January 2002.


 
The Capesize fleet has remained relatively stable and delivery of new tonnage was limited in 2002. Twenty-five ships for 4 million dwt were delivered, against 34 in 2001, whereas 17 ships were scrapped (of which 8 were combined carriers). In 2003 additions to the fleet will stay limited, despite a small growth, due to the fact that there were very few major orders during the period 2000-2001. Thirty-two additional ships, for 5 million dwt, should come into service in the course of this year. However the sudden upsurge in freight rates during the second half of last year, linked to low construction costs, and the availability of early slots in certain Japanese shipyards, plus the creation of new building docks in China has contributed to a flood of orders to be delivered as from 2004. No less than 50 ships have been ordered in 2002, including several big carriers of 200,000 dwt for Japanese account.

In 2001 in line with large tanker owners, some of the principal players in the Capesize market have created the pool Cape International which combined some 80 ships. This unit had its difficulties in getting formed, since in October 2002 Zodiac who had the biggest contribution to the pool decided to withdraw. Elsewhere, the Capesize and Panamax fleet of two other major players in the dry bulk scene Coeclerici and Ceres Hellenic joined forces. At the end of the year the Belgian Cobelfret strengthened its position within the Capesize market by acquiring the 50 % held by BHP-Billiton in its affiliate Cobam.

The Panamax market began the year 2002 at depressed levels. Inter-zone rates for modern ships did not surpass $5,500-6,000 per day. The spread between the two basins, Atlantic and Pacific, have progressively widened. All newbuildings were delivered into the Pacific area, and the reduction of voyage times (ton/miles), quickly repositioning these ships into their original area of operation, weighed heavily on freight levels. As with the Capesizes, levels from the Atlantic to the Pacific rose during the first three quarters, with modern vessels obtaining daily returns rising from about $ 7,500 in January to nearly $13,000 end December. This situation lasted until the beginning of the fourth quarter when volumes of coal coming out of China primarily for Japanese destination helped push rates even higher. At the end of the year however the Pacific market went along with its alter ego in the Atlantic. Backhaul rates stayed low throughout the year, with owners having tonnage in the zone being prepared to make sacrifices in order to return to the more advantageous Atlantic.

 

As with the Capesize fleet, the number of Panamaxes delivered in 2002 was down compared to the previous year. Fifty-five ships for 4,1 million dwt entered service, as against 116 in 2001. This drop in deliveries will be even more marked in 2003, as only 26 new ships for less than 2 million dwt, will come out of the Asian shipyards. For the same reasons as with the Capes, orders burgeoned during the second half, mainly with the Japanese yards and to a lesser extent with the Chinese. As a result, 76 orders were placed in 2002, with deliveries being spread out over 2004 and 2005. Scrappings remained modest, with only 29 units of which 4 combined ships removed from the fleet. Finally a new type of Panamax should be noted, the Kamsarmax, its name being derived from a port in Guinea and developed by the Japanese shipyard Tsuneishi, with a deadweight of 82,000 (length of 229 meters, width of 32,26 meters, draught of 14,35 meters) and capacity of 97,000 cbm and of which seven units have been ordered.

The bulk carrier market of Handymax and Handysize offers a more contrasted picture. On the one hand, the Pacific market has suffered for a long time from the high level of newbuildings being delivered, since on average nearly 3 ships per week have been coming onto the market in 2002. Conversely the Atlantic market has been well supported mainly with traffic to the Far East. Important volumes of steel, fertilisers, and cereals leaving the Black Sea, the Mediterranean and North Europe helped sustain freight rates for a good part of the year. Consequently large, modern Handymaxes have been able to obtain rates reaching up to $14,000 per day for voyages to the Far East. Satisfactory levels were seen throughout the year, with levels never falling below $10,000 per day after April. As with the Panamax, Handymax owners not wishing to go off into the Pacific zone at any price, were able to get premiums on these destinations. At the start of the year the Atlantic market was hesitant, with the grain trade out of South America being slow to get off the mark. For ships between 43,000 ' 45,000 dwt, daily returns for inter-Atlantic business averaged at $8,500 per day, the lowest being in January at below $7,000 per day, and the highest in December at around $10,000 per day. The Indian Ocean and the Middle East Gulf zones also benefited from a generally favourable market due to traffic into India or China. The Pacific market remained depressed for the first three quarters of 2002, with levels for inter-zone voyages rarely going over $ 6,000 per day. During the last quarter freight rates firmed up steadily to the point of reaching Atlantic levels right at the end of the year.

Handysize ships traditionally enjoy a less volatile market and started the year below $6,000 per day for short periods reached levels near $7,000 during the last quarter. The Handysize fleet is old and should therefore diminish progressively over the coming years, and with no new units coming in to replace those leaving the fleet bringing about changes mainly in the sugar and fertiliser trade.

The decrease in deliveries of Handymax and Handysizes in 2002 compared to 2001 had less of an affect on the large size of dry bulk carriers, but the persistent flow of nearly 3 ships per week coming out of the Asian yards put continuous pressure on the Pacific market. 148 ships for 6,2 million dwt came into service compared to 155 the previous year. With the same causes producing the same effects, orders were extremely high in 2002.

About 160 new contracts were signed with confirmation this year of the attraction for Super Handymaxes, ships over 50,000 dwt, for which an increasing number was ordered with Japanese and Chinese shipyards. Against these deliveries, there was an offset of 123 old units which went to scrap. But contrary to the Capesize and Panamax, the volume of deliveries will continue to be felt in 2003 since nearly 130 ships should be delivered.

The new year's prospects are similar to those at the end of 2002. Iron ore and coal volumes are on an upward trend. Moreover, concerning the Capesize and above all Panamaxes, new deliveries will be very restricted in 2003, giving a welcomed respite for owners. Two uncertainties remain however : during the course of the year will the hopes of a world economic revival, repeatedly delayed, give an additional stimulus to the dry bulk movements? Will China, the driving force in the dry bulk market, continue to charge ahead at full speed and for how long? The American military intervention in Iraq, even of short duration, will put back this recovery and would bring about repercussions which nobody can precisely foresee.

* * *

The future is always right!
 


 

The second-hand market
 
The Capesize second-hand market (80,000 dwt and over)

Following as always the freight market with a certain variation both in time as well as intensity, the second-hand Capesize market globally tracked the drop in the last months of 2001 before picking up at the beginning of 2002.

This increase continued until March / April. Prices then remained stable before firming up significantly again as from September. The year finished on a very strong upbeat.
We have noted some 36 sales for further trading (17 comprising ships delivered between 1990 and 2002, and 19 Capesize built between 1981 and 1989). Nine ships built between 1971 and 1982 were scrapped this year, roughly 1.14 million dwt, whereas 26 ships were delivered amounting to 4.25 million dwt.

Owners lured by a modest orderbook (about 9.3% of the existing fleet at the end of 2001), reasonable prices for construction and historically low dollar interest rates, were unable to resist the temptation to order on a massive scale.

There have been about fifty firm orders placed in the course of the year 2002, for a total capacity of 8.5 million dwt, figures which are worth comparing with the 20 orders of 2001 representing a total tonnage of 3.37 million dwt.

The strong rise in freight rates during the last quarter has however benefited primarily to second-hand ships available on a prompt basis.

Based on construction in a good shipyard, fully classed and in good condition, the following prices apply:

  

  

January 2002

  

December 2002

150 000 dwt

built in 1990

about $14 / 14.25 m

about $ 17.25 / 17.5 m

150 000 dwt

built in 1995

about $18.5 / 19 m

about $ 24.5 m

There are some encouraging signs at the end of 2002 and optimism is in the air, even if some of uncertainties cloud the market, such as the collateral effects of the war in Iraq, new regulations being studied for the introduction of double-hulls for bulk carriers, etc.

One should also not forget that the tonnage on order has to be absorbed by the market. In 2003, there will be some 5.0 million dwt added, followed by a further 6.4 million dwt in 2004 and with the firm orders recorded so far, over 2.0 million for 2005.
  

The Panamax, Handymax & Handysize bulk carriers second-hand market

Predicting what the future may bring can be dangerous, whereas if a prediction proves to be correct then whoever was bold enough to make it, can but refer to it.

In our last year's annual review covering these sizes we were of the opinion that 'values had bottomed out' and that anyone interested in investing in these sizes should be inspecting and offering as soon as possible as we felt that in the near future prices would increase. In the case of Panamax and Handymax size we were in fact cautioning prospective buyers of a possible 'stampede', which would in turn cause prices to climb faster and without any real logic.

It seems that this is what more or less happened.

Freight rates were rather stable for the first part of the year but the feeling that prices had reached the bottom fuelled competition amongst prospective buyers resulting in higher prices than the last comparable sales. Then as soon as buyers started to cool down the freight markets started to firm-up resulting in very good chartering returns for dry bulk owners, which was the perfect reason for any potential buyer to go out hunting again.

Prices across the board increased about 10 / 15 % within a few months, whereas the overall price increase at the end of 2002 reached a very healthy 25 % and in some cases has exceeded 30 % when compared to the beginning of 2002 / end of 2001. Once this trend was firmly established in buyer's minds, it caused a flurry of activity in the sale & purchase market.

A total of about 330 ships reportedly changed hands during 2002, this is about double the number of ships when compared to 2001. A 100 % increase in the number of transactions.
Looking closer at the three size segments, we note that when compared to the previous year there was an increase in the reported number of sales as follows:

75 % more Panamax sales

(2002 : 70 ships / 2001 : 40 ships)

144 % more Handymax sales

(2002 : 117 ships / 2001 : 48 ships)

86 % more Handysize sales

(2002 : 143 ships / 2001 : 77 ships)

It would seem that the Greek shipping community was quick to realise this trend and actively participated in purchasing vessels thus keeping the leading role amongst the buyers of second-hand bulk tonnage. Greek buyers bought about 165 vessels representing about 50 % of the reported sales in the three size categories under consideration.

Favourite amongst the Greek buyers proved to be the Panamax size for which they picked up about 64 % of the ships sold during the year, the Handymax category coming second with about 58 % of all transactions reported to Greek buyers, leaving the Handysize in the third place but with a respectable 35 % of the sales being reported to Greeks.

Chinese buyers were always present especially in the Handymax and Handysize segments the latter being their favourite 'hunting ground'.

Korean buyers where more active than in the past few years, especially in the latter part of 2002 going after ships in all three categories, although early 1980's built Panamax and Handymax ships seemed to have been what they were most keen on.

As one would expect when looking at sales for demolition, the number of ships reported sold for recycling during 2002 is significantly less than those sold during the previous year.

  • Panamax: about 0.9 million dwt was removed this year, 13 vessels, representing a decrease of about 60 % over 2001 figures.

  • Handymax: about 0.86 million dwt was removed during 2002, 20 vessels, representing a decrease of about 24 % over 2001 figures.

  • Handysize: about 2.12 million dwt were removed this year, 78 vessels, representing a decrease of about 15 % over 2001 figures.

Less ships going for recycling resulted in a sharp increase of prices obtained per light ton displacement from buyers of such tonnage which at the end of 2002 for a bulk carrier stands at about US$ 170-175 per ton.
 

  • Panamax

    A total of 70 ships were reported sold during 2002 and among these:

    • 1 ship was built in 1977 - she was sold for further trading to Indian buyers,

    • 49 ships were built in the 1980's (70 % of the reported sales), of which 14 were over 20 years old, 28 were 15-20 years old, 7 were 10-15 years old,

    • 19 ships were built in the 1990's (27 % of the reported sales), of which 14 were less than 10 years old,

    • 1 vessel was built in 2000 ' she was sold to Greek buyers.

    At the end of 2002 a 10 years old Panamax bulk carrier worth about US$ 11.75 / 12.0 million, representing an increase of about 30 / 33 % over a period of 12 months, a 5 years old Panamax bulk carrier worth about US$ 17.0 / 17.25 million, which represents about 28 % appreciation when compared to the value one year earlier in December 2001.

  • Handymax (35 000 ' 52 000 tpl)

    A total of 117 ships were reported sold during 2002 and among these:

    • 11 ships were built in the 1970's (about 9.5 % of the total Handymax sales), the oldest being a 1976-built vessel sold for further trading to Turkish buyers,

    • 67 ships were built in the 1980's (about 57 % of the total Handymax sales),
      ' 3 ships were over 20 years old,
      ' 59 ships were 15-20 years old,
      ' 5 ships were built 1988-1989,

    • 35 ships were built in the 90's (about 30 % of the total Handymax sales),
      ' 27 ships were 5-10 years old,
      ' 8 ships were 5 years old or younger,

    • 4 ships were built in 2000 representing about 3.5 % of the total Handymax sales.

At the end of 2002 a 10 years old Handymax bulk carrier worth about US$ 10.5 / 11.0 million, representing an increase of about 20 / 22 % over a period of 12 months, a 5 years old Handymax bulk carrier worth about US$ 14.25 / 14.5 million which represents a 16 % appreciation when compared to one year earlier in December 2001.

  • Handysize (18 000 ' 35 000 tpl)

    A total of 143 ships were reported sold during 2002 and among these:

    • 28 ships were built in the 1970's (about 19.6 % of the total Handy sales).

    • 86 ships were built in the 1980's (about 60 % of the total Handy sales)

    • 26 ships were over 20 years old,

    • 55 ships were 15-20 years old,

    • 5 ships were built 1988 / 89.

    • 28 ships were built in the 1990's (about 19.6 % of the total Handy sales)

    • 3 ships were over 10 years old,

    • 18 ships were 5 / 10 years old,

    • 7 ships were 5 years old or younger.

    • 1 ship was built in 2001, she was sold to Cuban interests.

    At the end of 2002 a 10 years old Handy bulk carrier worth about US$ 8.0 / 8.25 million, representing an increase of about 15 % over a period of 12 months, a 5 years old Handy bulk carrier worth about US$ 11.25 million, which represents a 7 % appreciation when compared to one year earlier in December 2001.

* * *

Concluding this review of the second-hand Panamax, Handymax and Handysize bulk carrier market and looking ahead, a lot will obviously depend on which way the freight markets will be heading for, but at the end of the year the feeling is that the dry bulk market maintains it's momentum and this should be felt on vessels' prices.

We would therefore expect values to remain firm with a slight upward trend over the next few months.
 

›››File
FROM THE HOME PAGE
Rheinmetall to enter naval shipbuilding sector by acquiring Naval Vessels Lürssen
Bremen
Lürssen Group to focus on megayacht production
The British government is investing half a billion pounds to reduce shipping emissions.
London
Private investments of 700 million expected
HMM signs new 10-year contract with Vale for iron ore transport
Seoul
It is worth around $310 million.
The Campania Port Authority reaches an agreement with UNIPORT and Assiterminal
Naples
The regional tax - highlights the port authority - risks undermining the competitiveness of ports
IAPH and WCO publish updated guidelines on cooperation between customs and port authorities
Tokyo/Brussels
Contributed by the World Shipping Council
ABB and Blykalla collaborate on nuclear marine propulsion
Stockholm
The agreement focuses on small modular fast reactors developed by the Swedish company
Saipem wins new offshore contract worth approximately $1.5 billion in Türkiye
Saipem wins new offshore contract worth approximately $1.5 billion in Türkiye
Milan
It is related to the third phase of the Sakarya gas field development project.
In the second quarter, freight traffic in the port of Civitavecchia grew by +5.7%
Civitavecchia
Record for cruise passengers this period
Uniport and Assiterminal oppose the additional fees demanded of port operators by the Campania Region.
Rome
Amount between 10% and 25% of the annual state fee
The first train from Belgium under the FS Logistix-Lineas agreement has arrived in Segrate.
Milan
Five return connections per week to Antwerp are scheduled
Modernization works are underway at the passenger terminal at the port of Igoumenitsa.
Naples
Grimaldi takes delivery of the PCTC "Grand Auckland"
Damage to submarine cables in the Red Sea
Portsmouth
According to the International Cable Protection Committee, the cause could be ship traffic
Dutch company Damen to build 24 naval vessels for British company Serco
Gorinchem/Amsterdam
Green light for a €270 million bridging loan to the shipbuilding company.
DP World to build and operate container terminal at Montreal's new Contrecœur port
Dubai/Montreal
It will become operational in 2030
Expansion work has begun at the Vienna South intermodal terminal.
Vienna
Annual traffic capacity expected to increase by 44%
In July, ship traffic in the Suez Canal increased by +0.8%
In July, freight traffic in the ports of Genoa and Savona-Vado decreased by -3.0%
Genoa
The decline was limited by increased oil traffic in the Vado harbor. Ferry traffic dropped 9.9%.
Trump nominates Laura DiBella as chair of the Federal Maritime Commission.
Washington
The nomination of Robert Harvey as commissioner of the federal agency has also been forwarded to the Senate.
Genoa's new dam: a modification has been approved to allow for completion of work by the end of 2027.
Genoa
Phase A and Phase B works will be carried out rather than sequentially
Assiterminal, simplify and standardize dredging procedures to restore the operational competitiveness of ports.
Taranto Recommends: The Regasification Plant Would Promote the Port's Revitalization
Taranto
Melucci: a lifeline for the entire port system and for our city's economic growth.
Cargo and cruise traffic in eastern Sicily ports is on the rise
Catania
In the container segment, an increase of +27.9% was recorded
FS Logistix and Lineas form joint venture to manage the Antwerp Mainhub Terminal
Antwerp
Rail services between Antwerp and Milan expected to increase
Attack on a product tanker in the Red Sea
Southampton
A missile fell near the ship which suffered no damage
Sea trials have been completed for the new GNV Virgo ro-pax vessel.
Genoa
It will be GNV's first liquefied natural gas ship
Companies inform
Accelleron and Geislinger: An Evolving Technical Collaboration
In the first half of the year, Singamas' container sales decreased by -10%.
Hong Kong
The average selling price dropped by -3.8%
COSCO Shipping Holdings Group's revenues fell by -3.4% in the second quarter of 2025.
COSCO Shipping Holdings Group's revenues fell by -3.4% in the second quarter of 2025.
Shanghai
Sharp decline in economic performance in the trans-Pacific and Asia-Europe markets
For Federlogistica, the bridge over the Strait of Messina will have the miraculous power to gradually eliminate a framework of social injustices.
For Federlogistica, the bridge over the Strait of Messina will have the miraculous power to gradually eliminate a framework of social injustices.
Genoa
Falteri: it can become the artery of an economic and social body that has been underdeveloped to date
SBB CFF FFS Cargo's half-year performance was negative.
Bern
The Swiss company announced a drop in volumes in both domestic and transit traffic.
COSCO Shipping Ports reports record quarterly revenue
Hong Kong
In the April-June period, net profit was 122.4 million dollars (+32.4%)
Cargo traffic at Chinese seaports hit a new record high in July
Cargo traffic at Chinese seaports hit a new record high in July
Beijing
Foreign traffic amounted to 427.6 million tonnes (+6.1%)
South Korea's HD Hyundai Heavy Industries Co. and HD Hyundai Mipo Co. to merge
Seoul
The completion of the operation is expected for next December 1st.
Filt Cgil, priority should be given to valorizing AdSP workers rather than assigning positions
Rome
The union denounces the failure to comply with the National Collective Labour Agreement
In the second quarter of this year, freight traffic in the port of Venice grew by +4.1%
Venice
There were 228 thousand cruise passengers (+12.8%)
COSCO Shipping International's revenues increased by 10.3% in the first half of the year.
Hong Kong
Net profit was HK$494.6 million (+26.0%)
G20 nations' merchandise trade showed modest growth in the second quarter
Geneva
The increase in trade in services was more pronounced
South Korea's HD Hyundai announces multibillion-dollar investment program to revitalize the U.S. shipbuilding industry.
South Korea's HD Hyundai announces multibillion-dollar investment program to revitalize the U.S. shipbuilding industry.
Seongnam
Agreements with the US investment firm Cerberus Capital and the Korea Development Bank
MSC World Europa cruise ship crashes off the coast of Ponza
Rome
The Coast Guard reports that the situation on board, where there are 8,585 people, is calm and under control.
MSC World Europa has resumed autonomous sailing
Rome
Electrical problem solved, the cruise ship is headed for the port of Naples
PostEurop warns that from August 29, shipments of goods to the USA could be limited or suspended
Brussels
Last month, Trump eliminated tariff exemptions for low-cost goods.
Chinese oil company OOIL sees growth in its half-year financial results.
Hong Kong
In the first six months of this year, revenues increased by +5.0%
Premier Alliance to split Mediterranean Pendulum 2 service next month
Seoul/Singapore/Keelung
Investment firm CVC Capital Partners exits Boluda Maritime Terminals and TTI Algeciras
Schiphol
The two terminal companies manage a total of nine Spanish port terminals
ZIM's quarterly economic and operating performance declines
ZIM's quarterly economic and operating performance declines
Haifa
In the period April-June the average value of freight rates fell by -11.6%
Interferry's Entry/Exit System risks delaying ferry operations at European ports.
Victoria
The system will come into force on October 12th
DFDS closes second quarter with a loss
Copenhagen
In the period April-June 2025 the fleet transported 10.6 million linear meters of rolling stock (-0.4%)
Ammonia and methanol are ready to decarbonize shipping, but some obstacles to their use must be removed.
New record quarterly results for the American cruise group Viking
New record quarterly results for the American cruise group Viking
Los Angeles
The April-June period closed with a net profit of 439.2 million dollars (+182.2%)
Container traffic in the port of Barcelona grew by 1.8% last month.
Barcelona
202,321 TEUs handled at loading and unloading (+10.4%) and 142,492 TEUs in transit (-8.3%)
In the second quarter of 2025, freight traffic in the Port of Hamburg grew by +4%
In the second quarter of 2025, freight traffic in the Port of Hamburg grew by +4%
Hamburg
Sharp increase in transshipment container volumes (+26%)
Norway's Xeneta has bought Denmark's eeSea
Oslo
Both companies provide data and information for the optimization of containerized maritime transport
In the April-June quarter, freight traffic in Tunisian ports decreased by -3.8%
La Goulette
In the first six months of 2025, 13.8 million tonnes were handled (-3.2%)
Port of Koper sets new quarterly records for containers and rolling stock
Ljubljana
In the period April-June, 5.6 million tons of goods were moved (-4.1%)
Port of Los Angeles hits record monthly container traffic
Los Angeles
Over one million TEUs were handled in July (+8.5%)
Hapag-Lloyd reports second quarter increases of +2.0% in revenues and +12.4% in containers transported by the fleet
Hapag-Lloyd reports second quarter increases of +2.0% in revenues and +12.4% in containers transported by the fleet
Hamburg
Net profit fell by -39.4%
Evergreen reports an 18.7% drop in quarterly revenues
Taipei
The April-June period closed with a net profit decrease of -62.9%
South Korean company HMM's revenues fell by 1.5% in the second quarter.
Seoul
Trump announces rejection of IMO's shipping decarbonization program
Washington
The proposed framework - it is denounced - is in effect a global carbon tax that affects Americans and is imposed by an irresponsible United Nations organization.
Taiwanese companies Yang Ming and Wan Hai Lines reported negative results in the second quarter.
Taiwanese companies Yang Ming and Wan Hai Lines reported negative results in the second quarter.
Keelung/Taipei
In the period April-June, revenues decreased by -26.5% and -8.7% respectively
Cruise traffic at Global Ports Holding terminals grew by 6.0% in the second quarter
Istanbul
In the first six months of 2025, an increase of +16.7% was recorded
In the period April-June, cargo traffic in Croatian ports decreased by -4.0%
Zagreb
Cruise passengers grow by +5.4%
Container traffic at US ports is expected to plummet in the second half of this year.
Washington/Long Beach
In July, the Port of Long Beach handled 944,000 TEUs (+7.0%)
ThyssenKrupp shareholders approve spin-off of ThyssenKrupp Marine Systems
Eat
The company will be listed on the Frankfurt Stock Exchange
WTO: Measured responses have cushioned the impact of tariffs in 2025, but risks remain high for 2026.
WTO: Measured responses have cushioned the impact of tariffs in 2025, but risks remain high for 2026.
Geneva
Global trade in goods is expected to grow by 0.9% this year
Hupac will increase the number of weekly rotations between Busto Arsizio and Basel from five to eight
Noise
Increase in attendance from September 1st
From January 1st, new bunkering regulations will apply in the ports of Rotterdam and Antwerp.
Rotterdam
The barges must be equipped with flow meters
Maersk reports higher quarterly revenue, lower earnings
Maersk reports higher quarterly revenue, lower earnings
Copenhagen
Terminals and logistics have made a positive contribution. Container shipping benefits from demurrage revenues.
The CIPESS has approved the final project for the bridge over the Strait of Messina.
Rome
Construction will begin this year and the project will be completed in 2032.
DHL Group revenues fell by 3.9% in the second quarter
DHL Group revenues fell by 3.9% in the second quarter
Bonn
Significant reduction in shipments from China and Hong Kong to the US due to Trump's abolition of the de minimis regime
Commander Claudio Tomei, USCLAC president from 2012 to 2024, has passed away.
Viareggio
His strong commitment to improving the working conditions of Italian seafarers
In the first quarter of 2025, cargo traffic in Greek ports grew by +1.4%
Piraeus
Passengers down by -1.1%
HD Hyundai Samho Orders Four New Container Ships
Seoul
Order worth approximately 468 million dollars
Trieste: Fraudulent bankruptcy in the shipbuilding sector
Trieste
Investigation into a company based in Palermo
Container traffic in the port of Hong Kong fell by 7.4% in August.
Hong Kong
In the first eight months of 2025 the decline was -3.8%
Container traffic at the port of Singapore continued to decline in August
Singapore
Total volume of goods increased by +1.1%
BigLift Shipping and CY Shipping order two additional heavy lift vessels
Amsterdam
Order placed at Chinese shipyard Jing Jiang Nanyang Shipbuilding Co.
The Charthage ferry was placed under administrative detention in the port of Genoa
Genoa
A Coast Guard inspection found numerous deficiencies
Disney Cruise Line's largest ship's debut delayed by three months
Lake Buena Vista
Construction delays force the maiden voyage to be postponed until March 10th.
Shell to supply liquefied biomethane to Hapag-Lloyd containerships
Hamburg
Agreement effective immediately
Andrea Zoratti has been appointed general manager of Hub Telematica
Genoa
The company is controlled by Assagenti and Spediporto
Jotun and Messina sign agreement to improve the environmental and commercial performance of ships.
Genoa
The "Jolly Rosa" vessel will use the Hull Skating Solutions solution
PSA Genova Pra' announces the hiring of 25 people dedicated to container handling.
Genoa
Ferrari: International markets have changed profoundly
CMA CGM will not apply surcharges for new US taxes on Chinese vessels and Chinese services
Marseille
The rates announced by the USTR in April will apply from October 14th.
South Korean HJ Shipbuilding wins orders for four 8,850 TEU containerships
Busan
Orders with a total value of approximately 461 million dollars
Conference: "Waiting and Delays in Road Transport: Logistics in Check"
Genoa
Organized by Trasportounito, it will be held on September 26th in Genoa
GNV has inaugurated a new office in Barcelona
Barcelona
The company currently has 52 employees throughout Spain.
Port of Trieste: EU funding for two new projects
Trieste
Resources with a total value of 1.7 million euros
Filt Cgil, the Flotilla incident is serious. Dockworkers are ready to mobilize.
Rome
Union announces action if aid is not allowed to reach Gaza
SAILING LIST
Visual Sailing List
Departure ports
Arrival ports by:
- alphabetical order
- country
- geographical areas
In the first eight months of 2025, container traffic in the port of Gioia Tauro grew by +10.6%
Gioia Tauro
2,912,943 TEUs were handled
Stena Line to buy Latvian port operator Terrabalt
Gothenburg
It handles rolling stock, bulk cargo, and general cargo traffic in the port of Liepaja.
Meyer Turku begins construction of Royal Caribbean's fourth "Icon"-class cruise ship
Miami/Turku
It will be delivered in 2027
More than one in ten maritime shipments has shortages
Washington
This is what a report by the World Shipping Council has revealed, highlighting the safety risks
Last July, traffic in the port of Ravenna increased by +3.8%
Ravenna
In the first seven months of 2025, growth was +5.4%
In the first quarter of 2025, freight traffic in Belgian ports fell by -3.2%.
Brussels
Landings down 1.3% and embarkations down 5.4%
Product tanker High Fidelity rescues 38 migrants on a drifting dinghy
Rome
Intervention in the south of the island of Crete
GES and RINA sign agreement to develop a prototype of a new hydrogen battery
Rovereto/Genoa
PSA's second phase of container terminal at Mumbai Port inaugurated
Singapore
Annual traffic capacity will increase to 4.8 million TEUs
The conference "EU ETS - Perspectives and Opportunities for Decarbonization in the Maritime Sector" will be held in Palermo.
Rome
It will be held on September 18th and 19th
Fincantieri and PGZ sign an agreement to support the modernization of the Polish Navy
Trieste
The third LSS section for Chantiers de l'Atlantique was launched in Castellammare di Stabia.
In the US, funding for wind energy development projects in ports is being cut.
Washington
Resources worth $679 million will be reallocated for port infrastructure upgrades
From January 1st, Kombiverkehr will operate the PKV intermodal terminal in the port of Duisburg.
Frankfurt am Main
It has a traffic capacity of approximately 200 thousand intermodal units per year.
Wallenius Marine and ABB form Overseas joint venture
Stockholm
The aim is to accelerate the launch of the platform of the same name for improving fleet performance.
DHL eCommerce has acquired a minority stake in Saudi Arabia's AJEX Logistics Services.
Bonn/Riyadh
The Middle Eastern company has two thousand employees
The Ministry of Infrastructure and Transport has asked the Region to agree on the appointment of Bagalà as president of the Sardinian Port Authority.
Rome
He is currently the extraordinary commissioner of the same body
CMPort's port terminals handled record container traffic in the second quarter
Hong Kong
In the first six months of 2025 the total was 78.8 million TEUs (+4.3%)
Confitarma approves the decree on advanced training for tanker seafarers.
Rome
Applause to the General Command of the Port Authority Corps
Quarterly freight traffic in Moroccan ports increases
Tangier/Casablanca
In Tanger Med the growth was +17%
The board of directors of the Genoa-based Ente Bacini has been renewed.
Genoa
President Alessandro Arvigo and CEO Maurizio Anselmo
In the second quarter, sales of dry containers produced by CIMC fell by -33%.
Hong Kong
Reefer boats increase by 57%
The Grimaldi Group has taken delivery of the Grande Shanghai
Naples
It will be used for the transport of vehicles between East Asia and Northern Europe
Chinese automaker FAW ships components to Europe by train
Changchun
Transit time reduced to 18 days compared to 45 days for maritime transport
The ART urges to verify that the investment plan and the related amortization period are consistent with the duration of the port concessions.
Turin
Opinions regarding the concession extensions requested by the Neapolitan companies So.Te.Co. and Co.Na.Te.Co.
The assets and fleet of the Spanish Armas Trasmediterránea will be sold to Baleària and DFDS
Las Palmas/Dénia/Copenhagen
Two agreements worth €215 million and €40 million respectively have been signed.
Italian State Railways (FS), investing €70 million to install the ERTMS system.
Rome
Work has been completed on 382 Trenitalia trains, while the retrofitting of 60 locomotives from Mercitalia Rail, an FS Logistix company, is underway.
MPC Container Ships' quarterly revenue returns to growth
The second quarter of 2025 was closed with a net profit of 78.1 million dollars (+20.5%)
Plans to build two container customs areas north and south of the Suez Canal
Cairo
Fourteen of the 48 abandoned shipwrecks in Catania port have been removed.
Catania
The activity will be replicated in the port of Augusta
The Regional Administrative Court (TAR) has confirmed the validity of the tender for the new Ravano Terminal in the port of La Spezia.
La Spezia
DP World's port terminals handled record quarterly container traffic
Dubai
Revenues grew by 22.2% in the first half of 2025
In the quarter April-June the volume of rolling stock transported by Höegh Autoliners increased by +9.0%
Oslo
Sharp increase (+46.6%) of vehicles from Asia
South Korea's HD Korea Shipbuilding & Offshore Engineering acquires Vietnam's Doosan Enerbility
Seongnam
It manages an industrial area with its own port facility
Container traffic in the port of Algeciras grew by 6.6% in July
Algeciras
In the first seven months of 2025, a decrease of -2.9% was recorded
In July, the port of Valencia handled 488,000 containers (+6.7%)
Valencia
Increase driven by growth in empty containers
Salvini has appointed Annalisa Tardino as extraordinary commissioner of the Western Sicilian Sea Port Authority.
Rome/Palermo
The President of the Sicilian Region announces the appeal against the provision
The materials dredged in the ports of La Spezia and Carrara will be used for the construction of the new breakwater in Genoa.
Genoa/La Spezia
Agreement between the two Ligurian Port System Authorities
X-Press Feeders denounces authorities' failure to acknowledge responsibility in the X-Press Pearl accident
Singapore
According to the company, the Supreme Court ruling ignores international maritime law
Cargo traffic in Russian ports remained stable in July
St. Petersburg
In the first seven months of 2025, loads decreased by -4.6%
Container traffic in the port of Hong Kong decreased by -6.5% in July
Hong Kong
A decline of -3.7% was recorded in the first seven months of 2025
In July, the Port of Singapore set a new all-time record for monthly container traffic with 3.9 million TEUs.
Singapore
In terms of weight, containerized cargo decreased by -3.6%
Compensation to be paid by the Civitavecchia Port Authority in the Fincosit case has been set at €1.5 million.
Civitavecchia
Latrofa: The ruling allows the release of set-aside sums that have frozen the budget for years.
Germany's HHLA posts record quarterly revenue
Hamburg
In the second quarter, the group's port terminals handled 3.2 million containers (+7.9%)
In the first half of 2025, CK Hutchison's port terminals handled 44 million containers (+4.0%)
Hong Kong
In the quarter April-June the Wallenius Wilhelmsen fleet transported 14.8 million cubic meters of rolling stock (-0.5%)
Lysaker
Revenues down by -0.7%
In the second quarter, Montenegro's ports handled 670 thousand tons of goods (+0.6%)
Podgorica
Volumes with Italy amounted to 154 thousand tons (+53.1%)
PORTS
Italian Ports:
Ancona Genoa Ravenna
Augusta Gioia Tauro Salerno
Bari La Spezia Savona
Brindisi Leghorn Taranto
Cagliari Naples Trapani
Carrara Palermo Trieste
Civitavecchia Piombino Venice
Italian Interports: list World Ports: map
DATABASE
ShipownersShipbuilding and Shiprepairing Yards
ForwardersShip Suppliers
Shipping AgentsTruckers
MEETINGS
Conference: "Waiting and Delays in Road Transport: Logistics in Check"
Genoa
Organized by Trasportounito, it will be held on September 26th in Genoa
The conference "EU ETS - Perspectives and Opportunities for Decarbonization in the Maritime Sector" will be held in Palermo.
Rome
It will be held on September 18th and 19th
››› Meetings File
PRESS REVIEW
Korean Firms Reassess U.S. Investments After Mass Immigration Raid
(The Korea Bizwire)
Russia's infrastructure development plan aims to build 17 marine terminals by 2036
(Interfax)
››› Press Review File
FORUM of Shipping
and Logistics
Intervento del presidente Tomaso Cognolato
Roma, 19 giugno 2025
››› File
With the arrival of the first container ship, the testing of operational procedures at the Rijeka Gateway begins.
The Hague
The first commercial ship is expected on September 12th
A proposal to bring the port of Taranto back onto global container routes? Start a discussion table.
Taranto
Meeting on the status of freight traffic
Port of Ancona: Tender for demolition of fire-damaged Tubimar warehouses
Ancona
The expected duration of the works is four and a half months
Merger of the German MACS and Hugo Stinnes, both active in the MPP vessel segment
Hamburg/Rostock
Stinnes headquarters in Rostock to close by December 31
In the second quarter, freight traffic in Albanian ports grew by +2.9%
Tirana
There were 331 thousand passengers (+13.6%)
A.SPE.DO, operationalizing the Smart Terminal to increase the competitiveness of the port of La Spezia.
La Spezia
ING loans to Premuda for over 100 million dollars
Milan
Funds for the management buyout and the purchase of two product tankers
Sallaum Lines has taken delivery of the first of six Ocean-class dual-fuel PCTCs
Rotterdam
The ship was completed four months ahead of schedule
First meeting of the new Management Committee of the Western Ligurian Sea Port Authority
Genoa
Several measures approved, including those for CULMV and CULP staff
Euroports to operate a new liquid bulk terminal in the French port of Port-La Nouvelle
Beveren-Kruibeke-Zwijndrecht
It is expected to become operational in 2026
In the second quarter, freight traffic in the port of Ravenna increased by +2.6%
Ravenna
Growth of 0.6% was recorded in June. An increase of 4.8% is expected in July.
OsserMare presents five reports on the marine economy
Rome
They focus on a specific sector supply chain or aspect of it
Port of Naples: Road haulage operations resume
Naples
Resolution meeting between institutions, operators and trade associations
ICTSI again reports record quarterly financial and operating results
Manila
Global Ship Lease Reports Record Quarterly Revenue
Athens
In the April-June period, net profit was 95.4 million dollars (+8.4%)
Vard receives new order from North Star for two hybrid SOVs
Trieste
Contract worth between 100 and 200 million euros
The Panama Shipping Registry will no longer accept the registration of oil tankers and bulk carriers over 15 years old.
Panama
Measure to counter the use of the shadow fleet
Danaos Corporation reports record quarterly revenue
Athens
The April-June period closed with a net profit of 130.9 million (-7.3%)
New customs fast corridor between the port of La Spezia and Interporto Padova
Padua
It adds to the other three already active on the same route
ICTSI to operate Indonesia's Batu Ampar Container Terminal
Manila
It is located on Batam Island
Pino Musolino has been appointed CEO of the Alilauro shipping company.
Naples
He replaces the resigning Eliseo Cuccaro
In the second quarter, DIS' time charter revenues fell by -37.1%.
Luxembourg
Net income was $19.6 million (-70.5%)
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio
No part may be reproduced without the express permission of the publisher
Search on inforMARE Presentation
Feed RSS Advertising spaces

inforMARE in Pdf
Mobile