Reefer demand rises, but prices fall

The attack on the UK-registered and Belize-flagged general cargo ship RUBYMAR on 18 February reveals that the crisis in the Red Sea is far from being resolved and that the role of the naval protection force appears limited.

The Washington (DC) headquartered World Shipping Council, which represents the interests of the world’s main liner shipping companies, has proposed a new pricing system that it believes can close the gap between the price of fossil fuels and green fuels.

The British International Freight Association, which represents the interests of most freight forwarders and logistics companies in the UK, is pleased that the UK Government will not press for new legislation once the EU’s Consortia Block Exemption Regulation ends on 25 April.

Copenhagen-based Maersk Line is the latest liner shipping company to report losses for Q4 2023 and sharply reduced profitability, compared with 2022, for the full year.

Members of THE Alliance have stressed to their customers and stakeholders that operations will “continue as normal throughout 2024”.

Izmir (Türkiye)-based Arkas, the diversified shipping, logistics and ports group, has joined compatriot liner shipping company Turkon, and Germany’s Hapag-Lloyd on their service linking the eastern Mediterranean with ports on the Atlantic seaboard of North America.