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EU tightens insurance requirements: Now applies to ships in transit

16 hours ago | shippingwatch.com | Kit Lindhardt

Ships sailing in EU waters without docking in a port must also present valid insurance documents, according to the European Commission. The EU is now tightening the rules on when ships must show valid insurance documents, so that in the future it also applies to ships in transit in EU waters, announces the European Commission in a statement.
Pollution from container ships reached record high last year

3 days ago | shippingwatch.com | Kit Lindhardt

The Red Sea crisis in particular forced ships to re-route south of Africa and caused greenhouse gas emissions to rise in 2024. Despite the shipping industry’s ambition to reduce greenhouse gas emissions from ships, it took a turn for the worse last year.
Maersk Offshore Wind continues to build despite red light for US wind project

5 days ago | shippingwatch.com | Christian Laursen

Even though the Empire Wind project has been halted by order of the Trump administration, Maersk Offshore Wind intends to fulfill the contract. Maersk Offshore Wind will continue to build a vessel to install offshore wind turbines off the coast of New York, even though the US government has shelved the Empire Wind project.
Hempel boss calls Russian market a "totally closed door"

5 days ago | shippingwatch.com | Kit Lindhardt

The coating maker halted its Russian activities in 2022 – a decision that will remain in force, says chief exec Michael Hansen. Even if a peace agreement is reached between Russia and Ukraine and the sanctions against Russia are eased, it will not make paint manufacturer Hempel return to the warring country, says Hempel CEO Michael Hansen to Danish business daily Børsen.
Unifeeder eyes growth this year despite strain from soaring costs

6 days ago | shippingwatch.com | Christian Laursen

Rising operational costs are hurting profit margins, says chief exec - but he believes the net profit will improve by 2025. 2024 was a year of growth for Unifeeder in terms of cargo volumes as well as revenue.
US announces port fees against China

1 week ago | shippingwatch.com | Maz Plechinger

Chinese-built ships will pay $50 per ton to enter US ports in the first phase of the pending tax, which goes into effect in 180 days. The US government has now announced its anticipated port tax on ships built in China. The tax will take effect immediately, but will be $0/ton for the first 180 days, increasing to $50/ton on October 14. A rate that will increase on an annual basis for the next three years albeit to an unspecified amount.
US sanctions Chinese refiner, vessels and companies for keeping Iran's oil flowing

1 week ago | shippingwatch.com | Nidaa Bakhsh

The US says any refinery, company or broker that facilitates the trade puts itself ”at serious risk”. The US Treasury Department’s Office of Foreign Assets Control (Ofac) has sanctioned a Chinese independent refiner, five tankers and several companies for facilitating Iran’s oil shipments.
Chief exec at UK-based insurer Britannia resigns

1 week ago | shippingwatch.com | Nidaa Bakhsh

Andrew Cutler, who has been in the role for 13 years, has decided to step away at the end of the year. He is being replaced by Mike Hall, currently deputy CEO. Andrew Cutler, chief executive at The Britannia Group, a UK-based P&I insurer, has decided to resign after 13 years in the role.
Tufton digests geopolitical uncertainty

1 week ago | shippingwatch.com | Nidaa Bakhsh

London-listed owner says sanctioned tankers which will likely be removed from the trading fleet will help with supply-side fundamentals. Tufton Assets, a UK-listed shipowner, says there remains significant uncertainty on the net outcome of geopolitical changes.
Car carriers face unpredictable market with Trump's tariff flood

1 week ago | shippingwatch.com | Daniela De Lorenzo

Vehicles are piling up in ports as carmakers strive to avoid US tariffs - but car carriers decline to speculate on what awaits. The swinging decisions and mixed signals coming from the US daily are not giving car carriers enough certainty to make any predictions on the current situation for deep sea transportation of vehicles.