Trendwatch: 47 ships rerouted to Suez Canal this month, chairman says; Up to $1.5m fee for every Chinese-built box ship calling at a US port; PSA achieves 10 million TEUs milestone at Tuas Port

47 ships rerouted to Suez Canal this month, chairman says

Egypt's Suez Canal Authority chairman Osama Rabei said on Sunday that 47 ships have been rerouted from Cape of Good Hope to Suez Canal since the start of February.

Earlier this month, Rabie said that the Red Sea crisis did not create a sustainable alternative route to the canal and that there were positive indicators for the return of stability in the region.

Up to $1.5m fee for every Chinese-built box ship calling at a US port

Following its investigation into what it concluded was unfair Chinese state support of maritime supply chains, US trade representative (USTR) Jamieson Greer has proposed fees for China-built ships calling at US ports.

At their most extreme, the new fees could amount to $1.5m per ship call for any containerships built in Chinese shipyards, irrespective of the flag the vessel is sailing under or the nationality of its operator.

PSA achieves 10 million TEUs milestone at Tuas Port

Tuas Port, the world’s largest fully automated container terminal, was designed to meet the increasing needs of international shipping, aiming to enhance Singapore’s position as a leading transshipment hub.

 The port’s automated systems are a key feature in PSA’s strategy. These systems reportedly allow for more streamlined operations, contributing to faster processing times for ships and containers.

 Additionally, the port’s focus on scalability is intended to ensure its ability to handle future growth in global trade.

Trump says tariffs on Mexico, Canada moving forward March 4

President Donald Trump said Monday that 25% tariffs on most imports from Canada and Mexico – delayed by a month to give those countries time to work on border security – will take effect March 4.

“The tariffs are going forward on time, on schedule,” Trump said at the White House when asked during a news conference with French President Emmanual Macron whether the tariffs on Canadian and Mexican products would be implemented, according to a report by The Canadian Press.

Hong Kong International cargo volumes continue to improve

Hong Kong International Airport (HKIA) saw its cargo volumes grow again in January after a strong 2024 and the start-up of its three-runway system.

The world’s busiest cargo airport saw its cargo volumes in January increase by 4.1% year on year to 394,000 tonnes.

Latest order takes MSC box ship orderbook past 2m teu mark

MSC has returned to Zhoushan Changhong International Shipyard for up to eight 21,700 teu LNG dual-fuelled ships, as the Swiss-Italian carrier consolidates its pole position among liner operators.

The yard announced the order on Friday, when it also clarified earlier reports that Greek shipping magnate George Economou’s TMS Dry had commissioned six 11,400 teu LNG dual-fuelled ships – in fact there are 10 firm orders.

Port of Hamburg: Growth in container throughput and rail transport

The year 2024 was marked by numerous geopolitical and economic challenges. International trade was impacted by both the war in Ukraine and the conflicts in the Middle East, fuelling uncertainty in global markets. In Germany, economic output declined by 0.2 percent. Industrial production also experienced a year-on-year drop of 4.5 percent.

Panama Canal approves funding for new lake to increase water supply

The Panama Canal Board of Directors has approved funding for the construction of the Rio Indio Lake Project within the Indio River Watershed.

This project is designated as a national interest initiative aimed at enhancing water security for Panama and is designed to mitigate the effects of droughts and ensure the Panama Canal’s operational reliability.

Bangladesh and Pakistan resume direct trade after more than 50 years

Bangladesh has resumed direct trade with Pakistan for the first time since its independence in 1971, with the first shipment of 50,000 tonnes of rice leaving Port Qasim under a government-to-government deal, officials said.

The deal follows an improvement in diplomatic relations since an interim government in Bangladesh led by Nobel laureate Muhammad Yunus taking over in the wake of the protests that drove then-Prime Minister Sheikh Hasina out of the country.

ILA ratifies 6-year labor contract

The International Longshoremen’s Association voted to ratify a six-year contract agreement with the United States Maritime Alliance on Tuesday, according to a Facebook post shared by the union on Wednesday.

The union, which represents roughly 85,000 longshore workers at 100 seaports across the East and Gulf Coasts, said its members voted nearly 99% in favor to approve the tentative contract agreement that was reached in January.