Maritime Executive
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Maritime Executive
Trump Extends Three-Year-Old Ban On Russian Ships Entering U.S. PortsPresident Donald Trump signed an Executive Order extending the ban that “regulates the anchorage and movement of Russian-affiliated vessels” first instituted by President Joe Biden in April 2022. While the ban will have little practical impact, it is the latest demonstration of the frustration of the Trump team to achieve a ceasefire in Ukraine.
“The policies and actions of the Government of the Russian Federation continue to constitute a national emergency by reason of a disturbance or threatened disturbance of international relations of the United States,” says the Executive Order signed by Trump on April 15. It was published today in the Federal Register.
The U.S. followed the lead of its European allies and Canada launching the ban two months after Russian forces invaded Ukraine. It was seen at the time as a symbolic step demonstrating the U.S. commitment to penalize the Russian economy. However, it was highlighted that only approximately 1,800 Russian vessels had made port calls in the U.S. in 2021 and the Biden administration had already taken other steps to limit imports and trade with Russia.
Trump has alternately threatened to take further steps against Russia and swung to blaming Ukraine for the war. He promised during the election to immediately end the war but has not been able to complete the proposed ceasefire. He has spoken with Russian President Vladimir Putin and both sides have said an in-person meeting is being planned.
Russia wants the U.S. to roll back sanctions and restrictions such as the vessel ban and the sale of oil. Trump has shown a willingness while the U.S. State Department has said there will be no agreements with Russia or lifting of the sanctions until a ceasefire in the war with Ukraine is achieved.
The order signed by Trump this week says the U.S. is “continuing for one year the national emergency with respect to the Russian Federation and the emergency authority relating to the regulation of the anchorage and movement of Russian-affiliated vessels to United States ports.”
This follows an earlier move by Trump last week to extend the national emergency status concerning the “harmful foreign activities of the Russian government.”port-and-ship
Apr 17, 2025
Maritime Executive
First “Suspicious Approach” Of 2025 Reported In Gulf Of AdenAuthorities are investigating an incident that took place late on April 15 between an unidentified bulker and “multiple small craft” in the Gulf of Aden. The vessel reportedly was able to evade the small boats, but there are reports of shots fired before the small crafts left the vicinity.
It is unclear if the incident was pirates, the Houthis, the so-called Yemen Coast Guard, or others. The UK Maritime Trade Operation issued a warning about the incident which was the first since 2024. The Houthis in January suspended their attacks linked to the Gaza ceasefire but had recently warned they would resume attacks on ships linked to Israel. They have not commented on yesterday’s incident.
UKMTO reports the vessel was 100 nautical miles east of Aden, Yemen. The multiple small crafts followed the bulker for approximately two hours. The master reportedly altered course towards the Yemeni coast.Â
The report says that shorts were fired but security analysts Neptune P2P Group notes it is unclear if the shots came from the small craft. They note the shots could have been from security guards aboard the merchant ship.
While the incident could have been piracy, the analysts at Neptune note it is unusual for the pirates to operate with multiple crafts or as far east in the Gulf of Aden as this incident. They note it could have been the Yemen Coast Guard due to the vessel’s proximity to the coast or possibly fishermen. They note that local fishermen are known to carry guns to protect their equipment and fishing catch.
Neptune reports that over 20 fishing vessels as well as four commercial ships have been hijacked since Somali pirates retuned their attacks on ships in November 2023. While two fishing vessels were robbed earlier this year and a third taken hostage in late 2024, the attacks on commercial vessels stopped earlier last year after the Indian Navy and others intervened to rescue vessels that had been boarded by pirates.
The ICC International Maritime Bureau in its quarterly report yesterday, April 15, noted the recent attacks demonstrate the continued capabilities of Somali pirates. Recognizing this, the EU also extended its efforts in the region for two more years till early 2027.
UKMTO is advising vessels to use caution and report incidents while the authorities investigate to determine if it was pirates or other crafts attempting to approach the merchant ship.port-and-ship
Apr 16, 2025
Maritime Executive
World’S Largest Lco2 Carrier Launched As Capital Gas And Commercial MarketThe first large vessel designed to transport liquified carbon dioxide (LCO2) was launched in South Korea as the industry for the transport and storage of captured carbon begins to take shape. The vessels are being built for Greece’s Capital Maritime Group which in 2023 announced plans to expand into the developing market.
The launch took place at the HD Hyundai Mipo shipyard in Ulsan, South Korea. With a capacity to transport 22,000 cubic meters of liquified carbon dioxide, the vessels have about three times the capacity of the first LCO2 carriers. Norway’s Northern Lights project took delivery at the end of 2024 of two 7,500 cbm LCO2 carriers built in China and which are currently undergoing commissioning. They will operate in connection with the storage project started as a partnership between Equinor, Shell, and TotalEnergies.
Capital Gas Ship Management Corp. will be managing the four gas carriers being built in South Korea and will place them into the commercial market. The new company will be known as Capital Clean Energy Carriers.
The vessels will measure approximately 525 feet (159.9 meters) in length with a beam of approximately 90 feet (27.4 meters). The vessels are equipped with three “Bi-lobe type storage tanks” that can maintain a low-temperature environment of around -55 degrees Celsius. According to Hyundai, this allows it to stably transport various liquefied gas cargoes such as LCO2, liquefied petroleum gas (LPG), and ammonia (NH3).
The design also enhances the vessels’ environmental performance. They are fitted with Selective Catalytic Reduction systems to reduce Nox emissions. They can use shore power and have ice-resistant design technology (Ice Class 1C) which will improve navigation stability. Capital also reported in 2024 that it was exploring adding onboard carbon capture systems to the vessels.
The construction order was originally placed in 2023 for two vessels and later increased to four gas carriers. HD Hyundai reports the vessel will complete outfitting and trials for delivery at the end of this year. The others are set for delivery in 20026.
The companies cite data from Clarson Research to illustrate the potential market for LCO2 transport. The analysts have written to achieve carbon neutrality, more than six gigatons of carbon will need to be captured and stored annually by 2050. They estimate that 20 percent will need to be transported by sea for storage or reuse. It is estimated that 2,500 LCO2 carriers will be required to meet future demand.port-and-ship
Apr 16, 2025
Maritime Executive
Swedish Report Fails To Find Evidence Of Sabotage By Chinese BulkerThe Swedish Maritime Accident Investigation Board released the details of its observations aboard a Chinese bulker accused of damaging undersea cables saying it cannot determine sabotage. The agency participated in the ongoing efforts to investigate the Yi Peng 3 (75,121 dwt bulker registered in China) which was linked to the damage to two undersea communications cables.
The government agency that investigates accidents and incidents states that it “cannot be determined with certainty whether a Chinese ship intentionally damaged data cables in the Baltic Sea in November 2024.” It however also notes that its assessment does not prevent the Swedish Public Prosecutor’s Office from conducting a preliminary investigation into a suspected crime and that law enforcement authorities in several affected states are conducting criminal investigations into the incident.
In an 18-page presentation (online in Swedish) the board details its observations aboard the vessel. It however notes the limitations it was working under saying that the flag state normally leads the investigation and that the Chinese limited its access. They were not given an opportunity to access electronic evidence such as the surveillance images from the Voyage Data Recorder and limited crew interviews with interpreters and authorities present in the room.
The board concludes that there are “two alternative scenarios for the incident, one of which is that the ship deliberately released the anchor to cause damage to the bottom infrastructure during the voyage in the Baltic Sea. … The other alternative is that the anchor came loose because it was poorly secured or not at all.”
The crew asserted during the interviews that the release of the anchor was unintentional. Investigators pointed out that the vessel dragged its port anchor for 1.5 days or approximately 180 nautical miles. Among the points they highlight supporting a possible accidental release is weather conditions, which according to the logs on the ship were slightly worse than the Swedish authorities had believed. In an oncoming sea the report notes with extra force from the ship’s speed and bow hitting the sea, “could be sufficient to cause the anchor to start running out.”
They note the ship did not slow down saying it would have been natural to reduce speed to prevent risking damage to the ship or endangering the crew during the release. They also determined the anchor and a section of chain hit the seafloor leaving a mark. It then dragged and bounced across the floor.
During the examination of the ship, they noted a number of conditions such as the lack of marks on the windlass to indicate the brake had been applied. They could not determine if the anchor had been fully secured after the vessel departed Russia, but also noted a lack of damage to elements that might have been expected if the anchor broke free. They also noted that elements such as equipment covers might have been changed before they were permitted to board the ship.
It is not the first time the authorities have failed to find specific evidence of sabotage after the series of incidents in the Baltic region. In February 2025, the Swedish Prosecutor’s Office released the Navibulgar bulker Vezhen also saying it could not find evidence of sabotage. A commercial fishing trawler was also detained after another incident but released after only a few hours.
Baltic nations remain on high alert after a series of incidents and were successful in getting NATO to increase its assets in the region. Patrols have been increased while the nations plot new steps to safeguard their undersea infrastructure which they believe has become a target in a new style of war.port-and-ship
Apr 15, 2025
Maritime Executive
Fortescue To Operate Ammonia-Fueled Ore Carrier From Cmb.TechAustralian mining giant Fortescue and the Saverys family’s CMB.TECH signed a charter agreement which the companies are calling a landmark in the efforts to accelerate the deployment of ammonia-fueled vessels and the decarbonization of large, long-distance vessels. Fortescue will deploy one of the fleet of 210,000 dwt ammonia-fueled bulkers currently being built by CMB.TECH.
Bocimar, the bulker operator under the CMB.TECH umbrella reported in 2023 that it was working with WinGD to co-develop large ammonia-fuelled engines. The companies said they were aiming to install the ammonia dual-fuel X72DF engine on a series of 10 bulk carriers to be built at a Chinese shipyard in 2025 and 2026. By the end of 2023, they had progressed in announcing an agreement with CSSC Qingdao Beihai Shipbuilding (QBS) to build the vessels and engine builder CSSC Engine Co (CSE) to construct China’s first ammonia dual-fuel engines.
The project was based on WinGD’s X92B engine, which they said would be an ideal starting point for developing large-bore ammonia-fueled engines. The design was for a 72-bore ammonia engine operating using high-pressure fuel injection with a small portion of pilot fuel.
“Our landmark agreement with Bocimar sends a clear signal to the market – now is the time for shipowners to invest in green ammonia-powered ships. The days of ships operating on dirty bunker fuel, which is responsible for three percent of global carbon emissions, are numbered,” said Dino Otranto, CEO of Fortescue Metals. “We will continue to work with like-minded companies like Bocimar to transition our fleet to low and zero-emissions vessels and help accelerate the widespread adoption of green ammonia as a marine fuel.”
The vessel is expected to be delivered by the end of 2026. Will be a dual-fuel Newcastle bulker. It will be employed to transport iron ore from the Pilbara region of Australia to customers in China and around the world.
Alander Saverys who is a strong advocate for decarbonization and at the forefront for ammonia and hydrogen-fueled vessels called the deal the “beginning of an exciting journey to build more ammonia-powered ships.” He believes that it will “stimulate more green ammonia production projects.”
Fortescue launched the first ammonia dual-fuel vessel last year with a converted offshore support vessel which also conducted the first ammonia bunkering operation in Singapore. The vessel went through extensive testing as part of a certification progress in Singapore. The vessel sailed to London in early March to call attention to ammonia ahead of the recent IMO meetings and according to the company will soon embark on a tour of global ports.
The agreement with Fortescue follows a deal between CMB.TECH and Mitsui O.S.K. Lines announced in March that the Japanese shipping company would jointly own three of the 210,000 dwt bulk carriers. It will take the three vessels on a long-term charter for operations and also plans to build six chemical tankers. Two of the vessels will be ammonia-fitted on delivery and the other four will be built ammonia-ready with delivery between 2028 and 2029.port-and-ship
Apr 14, 2025
Maritime Executive
How Real-Time Emissions Monitoring Prepares Shipowners For Eu Ets DeadlineThe expansion of the European Union Emissions Trading System (EU ETS) to include the maritime industry has introduced significant financial and operational hurdles for all shipowners who are voyaging to or through EU ports. Shipowners must now purchase European Union Allowances regardless of the ship’s nationality.
European Union Allowances are market-driven instruments and must be purchased through one of the regulated carbon exchanges. The prices of the allowances fluctuate like other types of securities and have been highly volatile since its inception. Market analysts predict that the prices will increase dramatically over the next five years.
The first deadline for complying with this new obligation is September 2025, which means shipping companies have just 6 more months to calculate and purchase the required allowances to cover their 2024 emissions in order to comply and avoid penalties.
This article features insights and trends from Frederic Bouthillier, who is the Head of Shipping at Vertis Environmental Finance (STX), one of the largest ETS traders and market makers.Â
Bouthillier speaks to the importance of having a structured approach to allowance purchasing, exploring alternative fuels, and implementing technological solutions like Cyanergy’s real time emissions monitoring system — which will help ensure compliance while maintaining a competitive edge in an increasingly regulated market.
Impact of EU Emissions Trading System on Shipowners: Rising and Fluctuating Prices
The EU ETS is designed to drive carbon prices higher over time, making compliance an increasing financial burden for shipowners. "In 2-3 years from now, the price could be above €100," Bouthillier warns. "The structural pricing mechanism is organized in a way that the price will keep rising."
In addition, price fluctuations add complexity to cost management. The European Union Allowances price gained 15% in January before retracing downward in February. These fluctuations make cost forecasting a challenge for shipowners and force companies to adapt quickly to avoid excessive financial exposure.
Companies that underreport emissions risk fines of €100 per missing metric ton, plus the obligation to purchase the shortfall allowances at market rates. Additionally, non-compliance can lead to regulatory investigations, public disclosure of violations, and even suspension from the ETS.
Accuracy Is Critical: The Role of Technology
Accurate emissions reporting is essential for shipowners to comply with the EU ETS and manage costs effectively. Since allowances must be verified by independent auditors, errors in reporting—whether under or overestimating emissions—can have costly consequences.
The need for precise emissions monitoring goes beyond CO2, as other greenhouse gases like N2O and CH4 have significantly higher emissions factors. "That’s why it’s so important to ensure your emissions are monitored by volume and type in a very accurate way," Bouthillier stresses. "If you're short, it might cost you a lot of money. The first element is to have a system on board that allows you to monitor your emissions by volume and type."
Cyanergy's CE² Monitor, which collects engine and gas data every minute, enabling more accurate measuring and reporting. Courtesy of Cyanergy.Â
A Strong Incentive to Seek Competitive Solutions
With rising costs and regulatory risks, shipowners must seek ways to optimize their emissions strategy. Companies that fail to adapt risk falling behind competitors who are proactively managing compliance.
"If you don’t move, you will fall behind because the competition might be moving, and you will put yourself out of the game," warns Bouthillier.
Shipping companies that leverage technology to monitor emissions in real time can gain a competitive edge by making informed decisions about when to purchase ETS allowances and how to optimize their fuel consumption.
The Importance of Real-Time Emissions Monitoring
In this volatile market, proactive emissions management is critical. "Under these circumstances, what is of paramount importance is to be proactive,” Bouthillier explains. “By getting a system like Cyanergy on board, looking at the market, optimizing— you’re going to mitigate the damage compared to someone who is waiting until the last minute. All the tools are there."
Real-time emissions monitoring solutions, such as those offered by Cyanergy, provide shipowners with the accuracy and insight needed to navigate the complexities of the EU ETS. For shipowners looking to secure their compliance strategy and minimize costs, investing in advanced emissions monitoring technology is no longer optional—it’s a necessity.
Navigating EU ETS with Smart Solutions
Real-time emissions monitoring systems empower shipping companies with accurate data to optimize allowance purchasing, avoid penalties, and stay ahead of rising carbon costs. By investing in advanced monitoring solutions and proactive compliance strategies, shipowners can not only mitigate financial risks but also strengthen their position in an increasingly regulated industry.
This article is sponsored by Cyanergy, providing cutting-edge solutions for emissions monitoring and compliance. Learn more about their innovative technology here.port-and-ship
Apr 14, 2025
Maritime Executive
Container Volume Rebounds In Black Sea, Driven By Ukrainian PortsThe Black Sea container terminals of Bulgaria, Romania and Ukraine handled 1,313,392 TEU in 2024, including empty containers and transshipment. Â
This review examines the laden container volumes of these countries imported and exported by sea only, since waterborne container traffic in Ukraine is about 30% of the total. The total increase achieved by these three countries for the period was 12% compared to the same period last year and comprised 1,015,563 TEU.
Black Sea region turnover, 2024 vs 2023, laden containers (TEU)
The laden container turnover increase was in all these countries. In 2024 the highest percentage growth was achieved by Ukraine – 78%.
Laden container turnover by country, TEU
During this period, 54% of full containers handled were imported, with 46% of the volume being exported. It is estimated that laden containers share was 77% and empty containers share was 23%.
Import volumes to the aforementioned countries increased by 21% compared to 2023. The highest import volume increase was shown by Ukraine – 154%. In Romania there was an increase of 22%, while in Bulgaria there was an increase of 4%.
Exports from these countries increased by 3%, mainly because of Ukrainian and Bulgarian export volume growth of 47% and 5% (respectively). There was a slight decrease of laden export volume in Romania – 3%.Â
Thus, the percentage of laden volume handled by each country in 2024 distributed as follows: Romania – 67%, Bulgaria – 23%, and Ukraine – 10%. The top three container terminals in these countries were DPW (Constanta, Romania), VARNA (Bulgaria) and BURGAS (Bulgaria).
The remarkable rebound in Ukraine's container traffic was a key factor in the broader recovery of maritime trade within the Black Sea region. Notably, Ukraine's growth rate significantly outpaced its neighbors, demonstrating its crucial role in driving this regional recovery. This strong performance underscores Ukraine's strategic importance as a trading hub in the Black Sea and highlights the significance of supporting its maritime infrastructure for the benefit of the entire region's trade network.
 The initial groundwork laid by a local forwarding company, followed by the significant commitment from global shipping giants like MSC and Maersk, showcases the resilience and inherent potential of Ukraine's maritime sector. While the challenges posed by the ongoing conflict undoubtedly persist, the tangible evidence of this robust trade recovery offers a strong indication of progress and underscores Ukraine's unwavering determination to rebuild its economy and actively re-engage with the global marketplace.
Bulgarian, Romanian and Ukrainian container carriers’ shares by total turnover, 2024
Historically Maersk, MSC and CMA CGM were leading carriers in the Black Sea region, and their total share of the market was more than 60% in recent years.
As for the other countries of the Black Sea, laden container turnover in Novorossiysk increased by 8% to 773,000 TEU. About 40% of this volume was transported by MSC and Turkish carriers in the Black Sea, while the other 60% was transported by local carriers in Russia. Georgia's total volume in 2024 reached 636,000 TEU.
The forecast of container turnover growth in the Black Sea region for 2025 shows that growth will amount to 8-10% and will exceed 3.2 million TEU in 2025. The major driver of that growth will be further restoration and expansion of direct container connection to Ukrainian ports.
Vassiliy Vesselovski is the CEO of Ukrainian shipping intelligence firm Informall BG. Daniil Melnychenko is a Data Analyst with the firm, and Alexander Khromov is a Project Manager.
Top image courtesy Konstantin Kulikovskii / CC BY 2.0port-and-ship
Apr 08, 2025
Maritime Executive
One Killed As New Chinese Domestic Boxship And Bulker Collide Off NingboThe Ningbo Maritime Safety Administration confirmed that one seafarer died and three others were injured last weekend when a domestic container ship and a domestic dry bulk carrier collided. The collision happened overnight in the early morning hours of March 29 in a busy area near the Ningbo port complex.
The report indicates that the collision took place between a brand new containership, Ningyuan Beilun (15,000 dwt) which had been delivered at the end of February to Ningbo Ocean Shipping. The vessel is part of the domestic feeder carrier’s expansion efforts. The open-hatch containership was departing Ningbo carrying 934 TEU.
It collided with the dry bulk carrier Jianghai Zhida 66 (14,000 dwt). The vessel entered service in May 2023. It is unclear if it was loaded when the collision occurred. It had a crew of 13 aboard.
The bulker immediately began taking on water and according to the reports sank in just five minutes. The Safety Administration reports the rescue operation lasted four hours to locate the crewmembers from the water. Nine were recovered uninjured and three were taken to a hospital. One person was deceased when they recovered the body.
Damage to the containership is reported to be minor. The vessel is being held in the Zhoushan Anchorage pending the investigation.
Ningbo Ocean had just celebrated the entry of the new vessel into service highlighting with its delivery its fleet reached a new level. The company said its total capacity now exceeds 50,000 TEU. It is one of eight ships in this class, each with a length of 136 meters (446 feet). The company said they have a higher transportation efficiency, larger loading capacity, and provide better energy-savings. The company is now operating a total of over 100 ships owned or chartered and serving 40 routes.port-and-ship
Apr 01, 2025
Maritime Executive
Six More Ships Robbed In Singapore Strait In 48 HoursReCAAP, the regional monitoring operation for Asia, issued a new alert to ships in the area of the Singapore and Malacca Strait warning of the continuing surge in sea robbery incidents and while cautioning of the possibility of further incidents. They received reports of six incidents between March 28 and 30 prompting the continued caution based on the increase in activity so far in 2025.
As with the incidents earlier this year, the perpetrators seem more brazen in their efforts but during the last incidents there was no direct interaction and none of the crewmembers were attacked. Other incidents in 2025 have included crewmembers being assaulted and tied up, but as with the prior incidents in several of the cases in the past few days, the boarders appeared to be armed.
Three vessels were boarded in a period of one and a half hours on March 30, between 0125 and 0255 all in the Phillip Channel in the eastbound lane in the Singapore Strait. This area has seen a concentration of piracy activity in 2025.
Among the ships boarded was the containership Kota Halus (18,872 dwt with a capacity of 1,080 TEU) which is operating for Pacific International Line (PIL). Three perpetrators were seen aboard the vessel, but they jumped overboard into a small boat when discovered. A search showed that they had entered an air conditioning room and a portable welding machine was missing.Â
In the other two incidents on March 30, bulkers were boarded, Junior (92,995 dwt) and Andreas Petrakis (76,000 dwt), in each case by a single perpetrator. In both cases, the person fled when discovered and the ships reported nothing was stolen.
Four perpetrators were sighted aboard the Wan Hai 327 (37,160 dwt) containership on March 29. They were moving between a small boat and the stern of the ship but also fled. Nothing was stolen. About an hour earlier that same day, five perpetrators were seen aboard a VLCC tanker, Agneta Pallas III (319,000 dwt). They also fled without taking anything from the ship.
The containership Selatan Damai (8,150 dwt with a capacity of 28 TEU) was boarded on March 28. The vessel, which also operates for PIL, reported four individuals were sighted going to the engine room. They escaped from the ship but the crew said that some engine spares were stolen.
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ReCAAP emphasizes that there have now been 35 incidents reported in 2025 in the area around the Straits of Malacca and Singapore versus just 11 in 2024. A total of 18 incidents were in March, while 12 took place in February.Â
Ships are being told to intensify vigilance and maintain a sharp lookout while transiting the area. ReCAAP has also repeated its urging for the littoral states to increase patrols and surveillance in their waters.port-and-ship
Apr 01, 2025
Maritime Executive
Port Fees For Chinese Ships May Prompt Genco To Leave Us MarketSmart shipowners are getting prepared to pass any extra U.S. fees for Chinese ships onwards to their charterers, insulating the owner from the impact of millions of dollars in extra regulatory cost per port call. Special new charter party clauses will ensure that U.S. exporters and importers - not shipowners - will bear the extra near-term cost, says Genco CEO John Wobensmith.Â
Genco is the largest U.S.-headquartered bulker operator, and has a substantial number of Chinese-built vessels in its fleet. As such, it is exposed to the proposed port fees on Chinese tonnage, written by the Office of the U.S. Trade Representative (USTR). If the fee structure is adopted as written, Chinese-built ships - and any global operators who use Chinese-built ships elsewhere - would have to pay millions of dollars for every port call in the United States. Exporters would also be required to ship an increasing percentage of their goods on U.S.-flagged tonnage, and eventually on scarce U.S.-built tonnage, raising costs for export shipments and creating new employment options for U.S. mariners.Â
Multiple shipowners have described deep changes to their business if the fees go into effect. U.S.-based ro/ro liner ACL says that it will go out of business in the United States, and multiple ocean carriers have said that they will narrow their port calls down to a few major gateways to minimize fees. Genco's Wobensmith told Bloomberg that he shares USTR's goal of strengthening American shipping, but in the near term, his firm has two options: exit the U.S. market and focus on the rest of the world, which accounts for 90 percent of its business; or pass the extra U.S. costs on to the end user.Â
It's already using the latter strategy. To ensure that it does not get caught bearing unexpected new costs, Genco's charter parties now include clauses that require the charterer to pay for any new U.S. port charges, whatever they happen to be.Â
In reality, these two strategies (leave or pass on charges) are closely linked. The extra expense of the port fees will make some ag commodities "uncompetive" compared to foreign producers, Wobensmith said, as American farming interests have previously warned. Soy exports "will come almost to a grinding halt," he said. For these cargoes, the extra pass-on charges may end the market, requiring shipowners with Chinese tonnage to leave.
Top image courtesy Bernard Spragg / public domainport-and-ship
Apr 01, 2025