Global Aperture

The shipping industry's lack of standardized data is impeding efforts to decarbonize and improve operational efficiency, according to a study by the Global Maritime Forum, emphasizing that addressing data sharing challenges is essential to unlock benefits such as optimized speed, capacity, and voyage routes. As ocean carriers absorb new Ultra-Large Container Vessels (ULCVs) into their service loops, many are opting to retire aging containers to the second-hand market and returning leased equipment to leasing companies in order to reduce storage costs and streamline their equipment fleets, though a surplus of equipment in the market is making this process difficult. As a result of this surplus, a new study anticipates that global container production will reach its lowest level in 14 years due to stagnant trade and the excess of shipping containers caused by eased pandemic-related supply chain constraints, with container output in the first quarter of 2023 down 71% compared to the previous year.

Americas

USA: The Georgia Port Authority received environmental approval to build an inland port near Gainesville as part of its efforts to push more cargo from its docks to inland locations. The project aims to increase rail capacity and connectivity, reduce congestion, and lower the carbon footprint of the logistics industry by making efficient use of Georgia's infrastructure, with the new facility expected to handle 60,000 containers per year and reduce truck use by 36 million miles annually. Despite a 19% year-over-year decline compared to last year's historic volumes, ports in South Carolina highlight the eastward volume shift as cargo volumes continued an upward trend in the month of April with an 11% increase over March.

Mexico: Although Mexico has received recent interest as a nearshore alternative to Asia for supply chains in the Western Hemisphere, recent moves by the Mexican government, including the seizure of private railway and land, are causing concerns among potential investors and impacting business confidence.

Asia-Pacific

India: As part of a broader initiative to develop all major ports in India into smart ports to match international standards, the Indian government announced plans to transform the Jawaharlal Nehru Port into a smart port that will include green parks and electric connectivity within a year, enhancing its competitiveness on a global scale.

Singapore: The number of detentions of oil and chemicals tankers in Singapore has surged to 33 ships so far this year, raising concerns about the environmental and safety impact of aging vessels in major shipping lanes. The increase in failed inspections aligns with a regional trend across Asia, driven by the expansion of a dark fleet of tankers transporting sanctioned oil and operating with sub-standard insurance, highlighting the dangers posed by these vessels.

Malaysia: Following a feasibility study, the development of a fourth terminal at Port Klang on Carey Island is moving forward. With a planned start in 2025, the project aims to strengthen Port Klang's position as a major marine hub in Southeast Asia and will be capable of handling 30 million TEU and 20 million tons of conventional cargo once fully developed.

Europe, Middle East & Africa

Germany: A recession in Germany is expected to dampen consumer demand and economic activity, leading to a decline in peak season demand for goods from Europe. This decrease in consumer spending and economic activity may result in reduced imports, impacting export-dependent economies and contributing to a global trade slowdown and a broader economic downturn.

Netherlands: In order to comply with EU mandates to make shore power available to larger ships by 2030, the Netherlands’ Ministry of Infrastructure will allocate $150 million in a public-private partnership to help realize shore power installations in major seaports, promoting environmental benefits and reducing noise pollution from ship generators.

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