Container shipping news 2018
Here are some key container shipping news stories from 2018:
1. Maersk Line's Digital Transformation
In 2018, Maersk Line, the world's largest container shipping company, announced its plans to transform into a digital company. The company launched its digital platform, Maersk Spot, which allows customers to book and manage their container shipments online.
2. Container Shipping Industry Consolidation
2018 saw a wave of consolidation in the container shipping industry, with several major mergers and acquisitions taking place. For example, CMA CGM acquired a 25% stake in the container shipping company, CEVA Logistics, while Maersk Line acquired a 49% stake in the container shipping company, Hamburg Süd.
3. Rising Fuel Costs
In 2018, fuel costs rose significantly, putting pressure on container shipping companies' profits. The average fuel price per ton increased by 25% compared to the previous year, according to the Baltic Exchange.
4. Trade War Impact
The ongoing trade war between the United States and China had a significant impact on container shipping in 2018. The tariffs imposed by both countries led to a decline in trade volumes and a surge in demand for container shipping services.
5. New Container Shipping Alliances
In 2018, several new container shipping alliances were formed, including the Ocean Alliance, the 2M Alliance, and the Grand Alliance. These alliances aimed to improve efficiency and reduce costs by sharing resources and capacity.
6. Container Shipping Emissions
In 2018, the container shipping industry faced growing pressure to reduce its environmental impact. The International Maritime Organization (IMO) set a goal to reduce greenhouse gas emissions from international shipping by at least 50% by 2050, and container shipping companies began to explore alternative fuels and technologies to achieve this goal.
7. Cybersecurity Threats
Container shipping companies faced a growing number of cybersecurity threats in 2018, including hacking attacks and data breaches. The industry responded by investing in cybersecurity measures and implementing new security protocols.
8. Container Shipping Capacity
In 2018, the container shipping industry saw a significant increase in capacity, driven by the growth of global trade and the introduction of new vessels. The global container shipping fleet grew by 5.5% compared to the previous year, according to the Container Shipping Industry Association.
9. Port Congestion
Port congestion remained a major issue in 2018, particularly in major ports such as Los Angeles and Long Beach in the United States. The congestion was caused by a combination of factors, including a surge in demand, labor shortages, and infrastructure limitations.
10. Digitalization of Container Shipping
In 2018, the container shipping industry continued to digitalize, with the introduction of new technologies such as blockchain, artificial intelligence, and the Internet of Things (IoT). These technologies aimed to improve efficiency, reduce costs, and enhance customer experience.
These are just a few of the key container shipping news stories from 2018. The industry continued to evolve and adapt to changing market conditions, technological advancements, and environmental concerns.