World Maritime News
WMNF 19/03/2025
Wan Hai considers switching from methanol to LNG
Taiwanese carrier Wan Hai Lines is considering switching a series of orders from methanol to LNG power amid a growing trend of newbuilding orders favoring LNG dual-fuel engines, the carrier told Lloyd’s List. Responding to inquiries about possible renegotiations with South Korean shipyards to switch from methanol to LNG engines for eight 16,000 teu containerships ordered last October, Wan Hai, vice-president of the operation division Laura Su told Lloyd’s List that the company is evaluating its decarbonization strategies to ensure compliance with environmental standards while aligning with operational demands. “Due to the recent shift in new vessel orders towards LNG, we must carefully consider our options, focusing on carbon reduction and operational practicality. We need to thoroughly evaluate and choose between methanol dual-fuel and LNG dual-fuel solutions to ensure compliance with environmental regulations while meeting operational needs. No final decision has been made yet,” Su explained via an emailed statement.
Read more: Lloyd’s List
CK Hutchison agrees $22.8bn deal to sell off Hutchison Ports stake
A consortium led by BlackRock, an American investment giant, has reached a preliminary agreement with CK Hutchison to purchase its entire controlling stake in Hutchison Port Holdings, including its interests at Panama Canal ports. However, the Hong Kong-based company states that the move was unrelated to reports of political pressure asserted by the US and ‘purely commercial in nature.’ The two companies said the consortium, including Global Infrastructure Partners and Mediterranean Shipping Company’s port arm Terminal Investment Ltd, will buy 90% of Panama Ports, which operates the two ports in Balboa and Cristobal. The sale does not include the Hutchison Port Holdings Trust, which operates ports in Hong Kong and Shenzhen, South China or any other ports in mainland China.
Read more: Lloyd’s List 1 | Lloyd’s List 2
US could face trade ‘apocalypse’ if Trump port fee plan isn’t killed
The US Trade Representative announced on 21st February that it plans to levy exorbitant port fees — in some cases over a million dollars — for every US port call by Chinese transport operators, Chinese-built ships, all operators that have any ships on order at Chinese yards, and according to one interpretation of the proposal (based on a presidential draft order obtained by Lloyd’s List), all operators with any Chinese-built ships in their fleets. The USTR plan would also mandate that a portion of US exports be carried on US-flagged and, eventually, US-built vessels. Respondents had until on 10th March to submit comments to the USTR if they wanted to testify at the hearing on the proposal on 24th March. They responded in droves, overwhelmingly negatively, with several predicting a disaster for importers, exporters and the US economy in general if the USTR did not kill the port fee plan. Some executives also bluntly asserted that their companies would go out of business or leave the US if the plan was approved as written. If the USTR fee goes forward, the container liner industry would switch Chinese-built ships out of US trades. If they cannot avoid port fees, liners would seek to pass along the added costs as a surcharge. Ocean carriers would also reduce the number of US port calls per service string to reduce exposure to charges, cutting calls to tertiary ports and only calling at the largest ones. “The fees would generate congestion at larger ports, as operators of vessels subject to fees seek to minimize the number of US port calls those vessels make on each route,” said the World Shipping Council. “Economic impacts of congestion and reduced US port traffic [due to shifts to Mexico and Canada] would reverberate throughout the economy.” Summing up the worst-case scenario for US exports and imports, the Association of Ship Brokers & Agents wrote, “One thing is certain: If the maximum fees are imposed, the resulting economic pain will reverberate through every sector of the US economy and in every household.”
Read more: Lloyd’s List