Trendwatch: Trump tariffs kick in, China and Europe hit back; Overcapacity looms for ocean trades – with more blanked sailings inevitable; Odds of an Ambitious Carbon Tax at MEPC Look Less Certain

EU delays US tariff countermeasures by 90 days

The European Union will pause countermeasures to U.S. tariffs for 90 days “to give negotiations a chance,” European Commission President Ursula von der Leyen announced Thursday on X.

The move comes after U.S. President Donald Trump on Wednesday paused most of his country-specific reciprocal tariffs, including on the EU, for 90 days. The U.S. had placed a 20% tariff hike on imports from the bloc.

Overcapacity looms for ocean trades – with more blanked sailings inevitable

Notwithstanding the possible effects of the US tariffs on global container trades, the box lines continue to inject more capacity into shipping services, although demand appears to be waning.

According to new analysis from Sea-Intelligence, capacity on the headhaul westbound Asia-Europe trades since Chinese New Year has grown by a far greater amount that is normal for the time of year, potentially explaining why spot freight rates have declined so severely in recent weeks.

Odds of an Ambitious Carbon Tax at MEPC Look Less Certain

For months, climate campaigners and industry insiders have projected optimism about the odds of a long-debated global carbon levy on bunker fuel at the IMO Marine Environment Protection Committee's 83rd meeting (MEPC 83). Shipping's carbon is regulated by IMO, outside of the framework of the Paris Climate Agreement, and MEPC has repeatedly deferred the question of how to achieve a target of a 50 percent emissions cut by 2050. Consensus appeared to be building around a carbon levy in the run-up to MEPC 83, including a tax proposal from the International Chamber of Shipping.  

Gemini partners on the hunt for scarce chartered tonnage

Pacific International Lines (PIL) has chartered one of its ships to Hapag-Lloyd for three years, as the Gemini Cooperation’s tonnage predicament continues.

Clarksons said the 2009-built 4,211 teu Kota Layang has been fixed to the German liner for $35,500 a day for 36-38 months, and EconDB shows Singapore-based PIL has deployed the ship on its China-Vietnam-India service.

Panama Canal plans LPG pipeline

The Panama Canal Authority's (ACP) board of directors has authorised the development of a new pipeline for the transfer of liquefied petroleum gas (LPG) and ethane on the west bank of the waterway, connecting the Atlantic to the Pacific.

LPG vessels would discharge at one end of the pipeline and cargoes would be picked up at the other end, reducing LPG vessel traffic in the Panama Canal and freeing up slots for container and LNG vessels to transit.

Nearly 60% of air cargo workers have considered leaving industry

Recruitment and retention in the air cargo industry is still at crisis point with 59% of air cargo workers having considered leaving the industry altogether, according to new research.

The survey by Edge Insight on behalf of IBS Software found 26% of respondents have considered leaving the industry specifically due to burnout or work-related stress.

ZIM fixes Economou and Ofer 11,500 teu newbuild series in $2.3bn deal

Israeli carrier ZIM is bringing in 10 LNG dual-fuel containership newbuilds on long-term charter.

The New York-listed company has struck deals worth in total about $2.3bn with George Economou’s TMS Group and a shipping player affiliated with Idan Ofer’s Kenon Holdings for a series of 11,500 teu vessels.