<div class="phx-topic abstract-wrapper">Merchandise imports will slow down in November, but probably not soon enough to help West Coast ports dig out of the congestion problems that continue because of operational issues and work slowdowns by the International Longshore and Warehouse Union.</div>

Merchandise imports will slow down in November, but probably not soon enough to help West Coast ports dig out of the congestion problems that continue because of operational issues and work slowdowns by the International Longshore and Warehouse Union.

<div>Merchandise imports will slow down in November, but probably not soon enough to help West Coast ports dig out of the congestion problems that continue because of operational issues and work slowdowns by the International Longshore and Warehouse Union.Global Port Tracker, a publication of the National Retail Federation and Hackett Associates, projects that imports through the major U.S. gateways will total 1.4 million 20-foot container units, down from the torrid pace of 1.59 million TEUs recorded in September and again in October.November’s import volume would represent an increase of 3.9 percent compared to November 2013. Imports in September, the last...

Merchandise imports will slow down in November, but probably not soon enough to help West Coast ports dig out of the congestion problems that continue because of operational issues and work slowdowns by the International Longshore and Warehouse Union. Global Port Tracker, a publication of the National Retail Federation and Hackett Associates, projects that imports through the major U.S. gateways will total 1.4 million 20-foot container units, down from the torrid pace of 1.59 million TEUs recorded in September and again in October. November’s import volume would represent an increase of 3.9 percent compared to November 2013. Imports in September, the last month for which actual numbers are recorded, were up 10.9 percent, and October’s imports increased 11 percent from the same month last year. West Coast ports continue to struggle with congestion problems. Operational issues such as chassis shortages and big ships operated by powerful carrier alliances spreading their containers over multiple terminals are causing logistical issues for the ports. In addition, the International Longshore and Warehouse has been working without a contract since the previous contract with the Pacific Maritime Association expired on July 1. The PMA charged the ILWU with engaging in work slowdowns at all of the major gateways of the West Coast, and this is making a bad situation even worse. The ILWU denied those charges, saying operational issues are to blame for the congestion. The NRF, with about 100 other trade and transportation organizations, last week asked President Obama to send a federal mediator to San Francisco to assist in the labor negotiations. Retailers say continued delays in receiving their shipments will hurt some holiday sales. Containerized imports each month this year have been higher year-over-year, due in part to early shipment of merchandise in anticipation of the July 1 expiration of the ILWU contract. However, imports have remained strong beyond July. Global Port Tracker projects calendar year 2014 imports will increase 6.3 percent from 2013. Actual numbers show that imports in the first half of 2014 were up 7 percent over the same period last year. NRF is projecting an increase of 4.1 percent in holiday sales compared to 2013, and 3.6 percent sales growth overall in 2014. Contact Bill Mongelluzzo at bmongelluzzo@joc.com and follow him on Twitter: @billmongelluzzo .

Container lines

Global Port Tracker sees November easing in US import growth

<div class="phx-topic abstract-wrapper"> Martin’s headquarters near the Los Angeles-Long Beach port complex is now integrated into SeaCube’s depot and transportation network, providing faster delivery to customers and improved regional coverage in the cold storage market.</div>

Martin’s headquarters near the Los Angeles-Long Beach port complex is now integrated into SeaCube’s depot and transportation network, providing faster delivery to customers and improved regional coverage in the cold storage market.

Feature image

<div class="phx-topic">SeaCube Cold Solutions, a national investor in refrigerated equipment, has acquired Southern California-based Martin Container, a portable cold storage container company serving the West Coast. The move comes as SeaCube aims to create a better connected and responsive cold storage network for customers across the US. Financial terms were not disclosed. Launched in 2025, New Jersey-based SeaCube provides refrigeration solutions to grocery retailers, food distributors, logistics operators, and the agricultural, pharmaceutical, restaurant and festival industries. “This acquisition enhances both scale and regional strength,” James Armstrong, SeaCube’s senior vice president, said in a statement Friday. “Martin’s long-standing reputation and operational depth complement our growing national platform...” Demand for portable cold storage continues to rise across the Southwest and Pacific Coast regions. Martin’s headquarters near the Los Angeles-Long Beach port complex is now integrated into SeaCube’s depot and transportation network, providing faster delivery to customers and improved regional coverage, according to the statement. Martin has a number of asset locations throughout California, Arizona and Nevada. “This partnership is an evolution of who we are. We’re building on our legacy by joining a company that shares our commitment to quality, innovation and customer service,” Martin Container CFO Charlie Martin said. Contact Bill Mongelluzzo at <a href="mailto:bill.mongelluzzo@spglobal.com">bill.mongelluzzo@spglobal.com</a></div>

SeaCube Cold Solutions, a national investor in refrigerated equipment, has acquired Southern California-based Martin Container, a portable cold storage container company serving the West Coast. The move comes as SeaCube aims to create a better connected and responsive cold storage network for customers across the US. Financial terms were not disclosed. Launched in 2025, New Jersey-based SeaCube provides refrigeration solutions to grocery retailers, food distributors, logistics operators, and the agricultural, pharmaceutical, restaurant and festival industries. “This acquisition enhances both scale and regional strength,” James Armstrong, SeaCube’s senior vice president, said in a statement Friday. “Martin’s long-standing reputation and operational depth complement our growing national platform...” Demand for portable cold storage continues to rise across the Southwest and Pacific Coast regions. Martin’s headquarters near the Los Angeles-Long Beach port complex is now integrated into SeaCube’s depot and transportation network, providing faster delivery to customers and improved regional coverage, according to the statement. Martin has a number of asset locations throughout California, Arizona and Nevada. “This partnership is an evolution of who we are. We’re building on our legacy by joining a company that shares our commitment to quality, innovation and customer service,” Martin Container CFO Charlie Martin said. Contact Bill Mongelluzzo at bill.mongelluzzo@spglobal.com

Cool Cargo News

Supply chain

SeaCube acquires Martin Container in move to boost West Coast cold storage

<div class="phx-topic abstract-wrapper">Florida International Terminal specializes in container and general cargo handling and provides direct connectivity to major highways and rail networks, with Crowley and Mediterranean Shipping Co. its most frequent callers over the past 12 months. </div>

Florida International Terminal specializes in container and general cargo handling and provides direct connectivity to major highways and rail networks, with Crowley and Mediterranean Shipping Co. its most frequent callers over the past 12 months.

<div class="phx-topic">Hapag-Lloyd’s terminal arm will take full ownership of Florida International Terminal (FIT) at Port Everglades following an agreement with the terminal’s minority owner. The terminal is part of the portfolio Hapag-Lloyd acquired in the 2022 acquisition of terminal operator SAAM. Hanseatic Global Terminals said in a statement Friday it reached an agreement with an affiliate of Chile’s Grupo Empresas Navieras (GEN) regarding the capital structure of FIT that will make Hanseatic the sole owner of the terminal. GEN had a 30% stake in FIT, according to its 2024 annual report. Terms of the deal were not disclosed. Hanseatic, which was established in 2023 as an independent entity within Hapag-Lloyd to own and operate terminal assets, picked up its original FIT stake in <a href="https://www.joc.com/article/hapag-lloyd-makes-1-billion-latin-american-terminal-takeover-5194252">the $1 billion deal for SAAM</a>. Last year, FIT extended its concession at Port Everglades through 2035, with Hanseatic pledging to invest $25 million in capital spending for the facility, according to a February 2025 statement from Hanseatic. FIT specializes in container and general cargo handling and provides direct connectivity to major highways and rail networks, Hanseatic’s statement said. US-based carrier Crowley has been the most frequent container line to call FIT over the last 12 months, according to Sea-web, a sister company of the Journal of Commerce within S&amp;P Global, bringing in ships with an average capacity of about 1,000 TEUs. Mediterranean Shipping Co. is a close second, with 310 calls over the last 12 months, bringing in ships of 2,900-TEU capacity. In 2025, Port Everglades saw total containerized imports reach 346,074 TEUs, according to PIERS, a sister company of the Journal of Commerce within S&amp;P Global, a 5.5% drop from the year before. The Caribbean basin and Central and South America are its main cargo origins, accounting for 73% of the volume coming into Port Everglades. Hanseatic said in the statement it plans to grow its current terminal portfolio to cover approximately 30 ports by 2030, up from 21 currently. Contact Michael Angell at <a href="mailto: michael.angell@spglobal.com">michael.angell@spglobal.com</a>.</div>

Hapag-Lloyd’s terminal arm will take full ownership of Florida International Terminal (FIT) at Port Everglades following an agreement with the terminal’s minority owner. The terminal is part of the portfolio Hapag-Lloyd acquired in the 2022 acquisition of terminal operator SAAM. Hanseatic Global Terminals said in a statement Friday it reached an agreement with an affiliate of Chile’s Grupo Empresas Navieras (GEN) regarding the capital structure of FIT that will make Hanseatic the sole owner of the terminal. GEN had a 30% stake in FIT, according to its 2024 annual report. Terms of the deal were not disclosed. Hanseatic, which was established in 2023 as an independent entity within Hapag-Lloyd to own and operate terminal assets, picked up its original FIT stake in the $1 billion deal for SAAM . Last year, FIT extended its concession at Port Everglades through 2035, with Hanseatic pledging to invest $25 million in capital spending for the facility, according to a February 2025 statement from Hanseatic. FIT specializes in container and general cargo handling and provides direct connectivity to major highways and rail networks, Hanseatic’s statement said. US-based carrier Crowley has been the most frequent container line to call FIT over the last 12 months, according to Sea-web, a sister company of the Journal of Commerce within S&P Global, bringing in ships with an average capacity of about 1,000 TEUs. Mediterranean Shipping Co. is a close second, with 310 calls over the last 12 months, bringing in ships of 2,900-TEU capacity. In 2025, Port Everglades saw total containerized imports reach 346,074 TEUs, according to PIERS, a sister company of the Journal of Commerce within S&P Global, a 5.5% drop from the year before. The Caribbean basin and Central and South America are its main cargo origins, accounting for 73% of the volume coming into Port Everglades. Hanseatic said in the statement it plans to grow its current terminal portfolio to cover approximately 30 ports by 2030, up from 21 currently. Contact Michael Angell at michael.angell@spglobal.com .

North American ports

Hapag-Lloyd’s terminal arm takes full control of Port Everglades terminal

<div class="phx-topic abstract-wrapper">Onshore and offshore renewables projects will drive shipments of turbines and transformers, carriers in the sector say.</div>

Onshore and offshore renewables projects will drive shipments of turbines and transformers, carriers in the sector say.

<div class="phx-topic">Wind energy is on course to be the standout driver for the project cargo industry in 2026, say carriers serving engineering, procurement and construction companies in the sector. Kyriacos Panayides, managing director of multipurpose ship operator AAL Shipping, said the wind energy industry is set to add approximately 982 GW, both onshore and offshore, over the next five years, growing at about 8.8% annually. “These projects will continue to drive shipments of turbines, transformers and heavy components, translating into higher breakbulk shipping volumes,” Panayides told the Journal of Commerce.Melanie Drehkopf, COO of multipurpose vessel (MPV) operator dship Carriers, described growing activity in both the renewable and traditional energy sectors as a “major factor” in fresh green shoots of renewed stability for the sector. “Wind energy projects — offshore and onshore — continue to expand globally, driving a strong demand for the transportation of complex and oversized components,” she said. <h3>Optimism for Middle East market</h3>Panayides also gave a nod to renewables, describing project work in that sector as a “primary growth engine across Oceania, intra-Asia and Europe.” Further, sustained investment in oil, gas and construction is expected to underpin demand in the Middle East, while parts of North America show promise from growth in oil, gas and power, he said.“The Middle East and Persian Gulf remain pivotal growth corridors despite geopolitical tension, with renewed infrastructure and energy construction generating heavy-lift and breakbulk demand across ports and charter markets,” Panayides said.An executive at a third carrier who did not want to be identified said they were “most optimistic” about developments in the Middle East market, which has a strong pipeline of announced projects.Meanwhile, Indonesia’s shift from resource exports to onshore value-added manufacturing is creating a steady pipeline of inbound components, heavy equipment and specialized logistics, while India’s push for infrastructure and energy investment is increasing demand for transformers, modules and industrial equipment and boosting project cargo imports. In tandem with changes in cargo demand, shippers’ priorities are also evolving. Clients are increasingly prioritizing “flexibility and sustainability,” Drehkopf said, adding that a modernization of the MPV fleet is helping the sector adapt to shifting global requirements.Overall, market fundamentals look “encouraging,” Drehkopf said, despite the challenges of fluctuating rates and geopolitical uncertainty. “Overall, 2026 won’t be a year defined by rapid expansions, but a year of opportunities for carriers with the right technical capabilities and expertise,” she said.Contact Carly Fields at <a href="mailto:carly.fields@spglobal.com">carly.fields@spglobal.com</a>. </div>

Wind energy is on course to be the standout driver for the project cargo industry in 2026, say carriers serving engineering, procurement and construction companies in the sector. Kyriacos Panayides, managing director of multipurpose ship operator AAL Shipping, said the wind energy industry is set to add approximately 982 GW, both onshore and offshore, over the next five years, growing at about 8.8% annually. “These projects will continue to drive shipments of turbines, transformers and heavy components, translating into higher breakbulk shipping volumes,” Panayides told the Journal of Commerce. Melanie Drehkopf, COO of multipurpose vessel (MPV) operator dship Carriers, described growing activity in both the renewable and traditional energy sectors as a “major factor” in fresh green shoots of renewed stability for the sector. “Wind energy projects — offshore and onshore — continue to expand globally, driving a strong demand for the transportation of complex and oversized components,” she said. Optimism for Middle East market Panayides also gave a nod to renewables, describing project work in that sector as a “primary growth engine across Oceania, intra-Asia and Europe.” Further, sustained investment in oil, gas and construction is expected to underpin demand in the Middle East, while parts of North America show promise from growth in oil, gas and power, he said. “The Middle East and Persian Gulf remain pivotal growth corridors despite geopolitical tension, with renewed infrastructure and energy construction generating heavy-lift and breakbulk demand across ports and charter markets,” Panayides said. An executive at a third carrier who did not want to be identified said they were “most optimistic” about developments in the Middle East market, which has a strong pipeline of announced projects. Meanwhile, Indonesia’s shift from resource exports to onshore value-added manufacturing is creating a steady pipeline of inbound components, heavy equipment and specialized logistics, while India’s push for infrastructure and energy investment is increasing demand for transformers, modules and industrial equipment and boosting project cargo imports. In tandem with changes in cargo demand, shippers’ priorities are also evolving. Clients are increasingly prioritizing “flexibility and sustainability,” Drehkopf said, adding that a modernization of the MPV fleet is helping the sector adapt to shifting global requirements. Overall, market fundamentals look “encouraging,” Drehkopf said, despite the challenges of fluctuating rates and geopolitical uncertainty. “Overall, 2026 won’t be a year defined by rapid expansions, but a year of opportunities for carriers with the right technical capabilities and expertise,” she said. Contact Carly Fields at carly.fields@spglobal.com .

Breakbulk carriers

Energy projects

Project cargo

Breakbulk News

Wind components expected to be a ‘standout’ cargo for MPVs in 2026

<div class="phx-topic abstract-wrapper">STG said the filing will reset its balance sheet and reduce debt obligations, but drayage, domestic intermodal, transloading and warehousing operations will not be affected.</div>

STG said the filing will reset its balance sheet and reduce debt obligations, but drayage, domestic intermodal, transloading and warehousing operations will not be affected.

<div class="phx-topic">STG Logistics, the US’s fourth-largest asset-based intermodal marketing company, filed for Chapter 11 bankruptcy protection in New Jersey Monday, entering a court-supervised restructuring that the company said will reduce its debt while keeping freight moving without disruption. STG will reduce funded debt by approximately $952 million, a deleveraging of about 91%, while securing commitments for up to $150 million of new capital, according to the agreement included in the bankruptcy filing. STG, which maintains a large drayage presence in the Port of New York and New Jersey, among other East Coast ports, expects to emerge from Chapter 11 in about five months. The new financing will be structured as debtor-in-possession financing, a form of court-approved bankruptcy that provides cash while STG continues day-to-day operations. The restructuring will change after STG exits bankruptcy. The financing is known as a debt-for-equity swap, under which the participating lender group will trade its debt claims for ownership of the business upon exiting bankruptcy. The new ownership group will be private equity firms Antares Capital, Fortress Investment Group and Invesco, which were part of a controversial 2024 financing transaction that triggered litigation by STG’s minority lenders. Ohio-based STG owns approximately 15,000 domestic containers, behind J.B. Hunt Transport Services, Hub Group and Schneider National. STG also operates a joint service with CSX Transportation called RailPlus, a door-to-door domestic intermodal product covering nearly 350 lanes across the US. STG owns 32 warehouses across North America and offers transloading operations for international shippers. The company runs agency-based ocean drayage operations in US ports and inland rail ramps. STG said the filing will reset its balance sheet and reduce debt obligations, but drayage, domestic intermodal, transloading and warehousing operations will not be affected. Employees and drivers will continue to be paid, as will key vendors, including rail partners such as CSX and Union Pacific Railroad. STG’s bankruptcy was anticipated as the company faces multiple lawsuits and lacks the financial resiliency of larger intermodal competitors to navigate a freight recession approaching its fourth year. S&amp;P Global, the parent company of the Journal of Commerce, lowered STG’s credit rating in July to CCC, warning that free cash flow would end 2025 at $110 million in the red and that STG could run out of money early this year. A CCC rating is considered speculative-grade credit with a high risk of default. STG hired Kirkland &amp; Ellis and PJT Partners, firms known for bankruptcy filings, credit analysts at Octus reported last month. <h3>Lawsuits affected </h3>STG’s bankruptcy will impact two legal disputes involving the company. New Jersey Attorney General Matthew Platkin sued STG Logistics in December 2023 for worker misclassification, seeking back wages and penalties for more than 300 drivers. The lawsuit centers on the rules governing who qualifies as an employee versus an independent contractor. Like California’s AB5, New Jersey applies an “ABC test” that presumes employee status unless a company can satisfy three “prongs,” a high bar in drayage and trucking models. Those prongs are that the worker is free from the control of the hiring entity, that the work is performed outside the usual course of company business and that the worker is engaged in an independently established trade or occupation. The New Jersey case would be frozen and transferred to the bankruptcy court. The bankruptcy filing comes a week after a New York state judge allowed another lawsuit by minority lenders Axos Financial and Siemens Financial Services to move forward, according to The Wall Street Journal. Axos and Siemens were lenders in STG’s 2022 financing to acquire the intermodal division of XPO Logistics. In October 2024, STG announced a $300 million financing package, but Axos and Siemens later sued, alleging the deal also functioned as a liability-management transaction that shifted collateral and other protections toward new lenders, leaving them with weaker claims in bankruptcy. The October 2024 transaction included Antares, Fortress and Invesco, according to the Journal. The New York judge described the Axos and Siemens allegations as “lender bullying,” the Journal reported. Axos and Siemens were not parties to the agreement filed with the court. The filing triggers an automatic stay to the New York case, pausing litigation against the debtor as the restructuring proceeds. Contact Ari Ashe at <a href="mailto:ari.ashe@spglobal.com">ari.ashe@spglobal.com</a>.</div>

STG Logistics, the US’s fourth-largest asset-based intermodal marketing company, filed for Chapter 11 bankruptcy protection in New Jersey Monday, entering a court-supervised restructuring that the company said will reduce its debt while keeping freight moving without disruption. STG will reduce funded debt by approximately $952 million, a deleveraging of about 91%, while securing commitments for up to $150 million of new capital, according to the agreement included in the bankruptcy filing. STG, which maintains a large drayage presence in the Port of New York and New Jersey, among other East Coast ports, expects to emerge from Chapter 11 in about five months. The new financing will be structured as debtor-in-possession financing, a form of court-approved bankruptcy that provides cash while STG continues day-to-day operations. The restructuring will change after STG exits bankruptcy. The financing is known as a debt-for-equity swap, under which the participating lender group will trade its debt claims for ownership of the business upon exiting bankruptcy. The new ownership group will be private equity firms Antares Capital, Fortress Investment Group and Invesco, which were part of a controversial 2024 financing transaction that triggered litigation by STG’s minority lenders. Ohio-based STG owns approximately 15,000 domestic containers, behind J.B. Hunt Transport Services, Hub Group and Schneider National. STG also operates a joint service with CSX Transportation called RailPlus, a door-to-door domestic intermodal product covering nearly 350 lanes across the US. STG owns 32 warehouses across North America and offers transloading operations for international shippers. The company runs agency-based ocean drayage operations in US ports and inland rail ramps. STG said the filing will reset its balance sheet and reduce debt obligations, but drayage, domestic intermodal, transloading and warehousing operations will not be affected. Employees and drivers will continue to be paid, as will key vendors, including rail partners such as CSX and Union Pacific Railroad. STG’s bankruptcy was anticipated as the company faces multiple lawsuits and lacks the financial resiliency of larger intermodal competitors to navigate a freight recession approaching its fourth year. S&P Global, the parent company of the Journal of Commerce, lowered STG’s credit rating in July to CCC, warning that free cash flow would end 2025 at $110 million in the red and that STG could run out of money early this year. A CCC rating is considered speculative-grade credit with a high risk of default. STG hired Kirkland & Ellis and PJT Partners, firms known for bankruptcy filings, credit analysts at Octus reported last month. Lawsuits affected STG’s bankruptcy will impact two legal disputes involving the company. New Jersey Attorney General Matthew Platkin sued STG Logistics in December 2023 for worker misclassification, seeking back wages and penalties for more than 300 drivers. The lawsuit centers on the rules governing who qualifies as an employee versus an independent contractor. Like California’s AB5, New Jersey applies an “ABC test” that presumes employee status unless a company can satisfy three “prongs,” a high bar in drayage and trucking models. Those prongs are that the worker is free from the control of the hiring entity, that the work is performed outside the usual course of company business and that the worker is engaged in an independently established trade or occupation. The New Jersey case would be frozen and transferred to the bankruptcy court. The bankruptcy filing comes a week after a New York state judge allowed another lawsuit by minority lenders Axos Financial and Siemens Financial Services to move forward, according to The Wall Street Journal. Axos and Siemens were lenders in STG’s 2022 financing to acquire the intermodal division of XPO Logistics. In October 2024, STG announced a $300 million financing package, but Axos and Siemens later sued, alleging the deal also functioned as a liability-management transaction that shifted collateral and other protections toward new lenders, leaving them with weaker claims in bankruptcy. The October 2024 transaction included Antares, Fortress and Invesco, according to the Journal. The New York judge described the Axos and Siemens allegations as “lender bullying,” the Journal reported. Axos and Siemens were not parties to the agreement filed with the court. The filing triggers an automatic stay to the New York case, pausing litigation against the debtor as the restructuring proceeds. Contact Ari Ashe at ari.ashe@spglobal.com .

Intermodal providers

Surface

STG files Ch. 11 bankruptcy, but intermodal operations remain intact

<div class="phx-topic abstract-wrapper">Most major carriers have set net-zero goals and are investing heavily in dual-fuel vessels that support their emissions-cutting strategies despite a lack of global regulatory support.</div>

Most major carriers have set net-zero goals and are investing heavily in dual-fuel vessels that support their emissions-cutting strategies despite a lack of global regulatory support.

<div class="phx-topic">Dual-fuel vessels capable of running on liquefied natural gas (LNG) continue to dominate the container shipping order book despite ongoing uncertainty around global emissions-cutting regulations.  While the overall newbuilding market across all shipping segments fell to 2,403 orders, down from 4,405 in 2024, new orders in container shipping rose from 447 in 2024 to 547 in 2025, accounting for 49% of all gross tonnage and 68% of alternative-fuel new orders, according to classification society DNV. “The resilience of the alternative fuels order book in 2025 is mainly driven by cargo owners who have set their own emissions reduction goals despite [the] market slowdown and regulatory uncertainty,” Jason Stefanatos, global decarbonization director at DNV, said in a market update Monday. "We see [ocean carriers] prioritizing investments where there is a strong alignment between fuel infrastructure, regulatory certainty and commercial viability, particularly in container shipping, where LNG and methanol are supported by established supply chains and customer demand,” he added. The chance for shipping to become the first global industry to implement emissions-reducing regulations was lost in October when <a href="https://www.joc.com/article/imo-punts-on-pivotal-net-zero-shipping-regulation-6099141">US-led opposition derailed the International Maritime Organization (IMO) net-zero framework</a> at a pivotal Marine Environmental Protection Committee (MEPC) meeting in London. The net-zero framework was postponed for at least a year and possibly longer if the US continues to lobby against it. At issue is the price differential between conventional bunker fuels and greener fuels. A global price on emissions is key to narrowing the price gap, spurring demand and giving green fuel producers an incentive to invest in production. The MEPC will meet again this coming October, and although the delay may hurt the broader case for investment in the development of alternative fuels and related infrastructure, container carriers and shipowners remain firmly focused on LNG as the top green fuel of choice in newbuild vessel orders. Net-zero targets set by carriers Most of the major carriers in container shipping have set net-zero goals and are investing heavily in dual-fuel vessels that support their emissions-cutting strategies despite the regulatory uncertainty.  Data from Sea-web, a sister company of the Journal of Commerce within S&amp;P Global, shows that just over 4 million TEUs of capacity for LNG dual-fuel ships was on order in 2025, compared to 2 million TEUs of methanol-capable vessels. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="e8be4ac1-33cb-4758-93c4-1d0f92f52e7d"></dynamic-object></div>LNG as an interim alternative fuel solves multiple problems for container lines. It can reduce absolute carbon emissions by up to 20%, according to the American Bureau of Shipping, so progress toward decarbonization can be demonstrated to customers and the public. LNG is also more widely available than methanol, the supply of which is constrained and prices stubbornly high and will likely remain so due to IMO inaction on its zero-emissions framework. Maersk, for example, cited a lack of adequate supply when it <a href="https://www.joc.com/article/maersks-lng-order-hedges-bet-on-green-fuel-technology-ceo-5703200">pivoted from methanol to LNG in late 2024</a> for its next round of 50-60 vessels. DNV said in its market update that investment in fuel infrastructure was continuing at pace, with 22 LNG bunker vessels added to the orderbook alongside new bunkering vessels capable of supplying methanol and biofuel. These developments signal growing confidence in LNG supply chains and emerging multifuel capabilities, reducing operational risk and supporting the economics of alternative fuel adoption. With the IMO delay in adopting global decarbonization measures throwing interim greenhouse gas emissions targets into doubt, improving the fuel efficiency of vessels has attained even greater importance, particularly in Europe. The EU Emissions Trading System (ETS) carbon tax and maritime fuel intensity regulations will come into full effect this year, and cutting vessel emissions will directly impact a carrier’s operating costs. Contact Greg Knowler at <a href="mailto:greg.knowler@spglobal.com">greg.knowler@spglobal.com</a>. </div>

Dual-fuel vessels capable of running on liquefied natural gas (LNG) continue to dominate the container shipping order book despite ongoing uncertainty around global emissions-cutting regulations.   While the overall newbuilding market across all shipping segments fell to 2,403 orders, down from 4,405 in 2024, new orders in container shipping rose from 447 in 2024 to 547 in 2025, accounting for 49% of all gross tonnage and 68% of alternative-fuel new orders, according to classification society DNV.  “The resilience of the alternative fuels order book in 2025 is mainly driven by cargo owners who have set their own emissions reduction goals despite [the] market slowdown and regulatory uncertainty,” Jason Stefanatos, global decarbonization director at DNV, said in a market update Monday.  "We see [ocean carriers] prioritizing investments where there is a strong alignment between fuel infrastructure, regulatory certainty and commercial viability, particularly in container shipping, where LNG and methanol are supported by established supply chains and customer demand,” he added.  The chance for shipping to become the first global industry to implement emissions-reducing regulations was lost in October when  US-led opposition derailed the International Maritime Organization (IMO) net-zero framework  at a pivotal Marine Environmental Protection Committee (MEPC) meeting in London. The net-zero framework was postponed for at least a year and possibly longer if the US continues to lobby against it.  At issue is the price differential between conventional bunker fuels and greener fuels. A global price on emissions is key to narrowing the price gap, spurring demand and giving green fuel producers an incentive to invest in production.  The MEPC will meet again this coming October, and although the delay may hurt the broader case for investment in the development of alternative fuels and related infrastructure, container carriers and shipowners remain firmly focused on LNG as the top green fuel of choice in newbuild vessel orders.  Net-zero targets set by carriers  Most of the major carriers in container shipping have set net-zero goals and are investing heavily in dual-fuel vessels that support their emissions-cutting strategies despite the regulatory uncertainty.   Data from Sea-web, a sister company of the Journal of Commerce within S&P Global, shows that just over 4 million TEUs of capacity for LNG dual-fuel ships was on order in 2025, compared to 2 million TEUs of methanol-capable vessels.  LNG as an interim alternative fuel solves multiple problems for container lines. It can reduce absolute carbon emissions by up to 20%, according to the American Bureau of Shipping, so progress toward decarbonization can be demonstrated to customers and the public. LNG is also more widely available than methanol, the supply of which is constrained and prices stubbornly high and will likely remain so due to IMO inaction on its zero-emissions framework. Maersk, for example, cited a lack of adequate supply when it  pivoted from methanol to LNG in late 2024  for its next round of 50-60 vessels.  DNV said in its market update that investment in fuel infrastructure was continuing at pace, with 22 LNG bunker vessels added to the orderbook alongside new bunkering vessels capable of supplying methanol and biofuel. These developments signal growing confidence in LNG supply chains and emerging multifuel capabilities, reducing operational risk and supporting the economics of alternative fuel adoption.  With the IMO delay in adopting global decarbonization measures throwing interim greenhouse gas emissions targets into doubt, improving the fuel efficiency of vessels has attained even greater importance, particularly in Europe. The EU Emissions Trading System (ETS) carbon tax and maritime fuel intensity regulations will come into full effect this year, and cutting vessel emissions will directly impact a carrier’s operating costs.  Contact Greg Knowler at  greg.knowler@spglobal.com . 

Transport, Trade and Regulation News

Container Shipping News

Maritime

Solid growth evident in LNG order book despite regulatory uncertainty 

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Monthly publication providing an editorial deep dive into global supply chain news

Journal of Commerce Magazine - Rectangle Box

Journal of Commerce Magazine

A premium access index of savings using domestic intermodal vs. OTR 

ISI Report - Rectangle Box

Intermodal Savings Index

An in-depth analysis of transport trends in the multipurpose and heavy-lift fleet segment

Breakbulk Report - Rectangle Box

Breakbulk Quarterly

An extensive dashboard of charts organized by trade lane, mode, and topic

Gateway - Rectangle Box

Gateway

Customers scoring their intermodal partners to identify the best service providers

Intermodal Service Scorecard - Rectangle Box

Intermodal Service Scorecard

A premium access outlook critical to shippers and transportation providers

QI Report - Rectangle Box

Quarterly Intelligence

The premier conference for the global container shipping and supply chain community

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The only editorially independent conference for the breakbulk & project cargo industry

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The latest container shipping news and analysis of ocean container shipping, logistics, supply chains, technology solutions and end-to-end connectivity. Coverage includes the movement of containerized cargo handled by marine terminals and container ports, depots, container lines, drayage, consignees, importers and shippers, forwarders, non-vessel operating common carriers (NVOs) and off-dock warehousing providers. The Journal of Commerce's container shipping news includes news from the trans-Pacific, Asia–Europe, North America–Caribbean, Central and South America trades, and intra-Asia trades.

Trans-Atlantic

Forwarding

Asia-Europe

Trans-Pacific

Container shipping news and analysis of ocean container shipping, logistics, supply chains, technology and end-to-end connectivity.

Container Shipping News | Journal of Commerce

The Journal of Commerce is the industry’s source for maritime news and analysis about ocean container shipping, logistics, supply chains, global shipping ports, shipping technology solutions and end-to-end connectivity. Coverage tracks the movement of containerized cargo — from origin to destination — handled by marine terminals in the US and abroad, depots, container ports, container lines, drayage, consignees and shippers, forwarders, non-vessel operating common carriers (NVOs) and off-dock warehousing providers, as well as pricing, capacity, volume and reliability on the trans-Pacific, Asia–Europe, North America–Caribbean, Central and South American and intra-Asia trades.

Discover comprehensive trucking news and trends with Journal of Commerce - from trucking LTL to regulation and trucking supply and demand.

Breakbulk News shipping | Journal of Commerce

Stay informed on port news worldwide with Journal of Commerce. From decarbonization to labor updates, get insights on global developments.

Port News | Journal of Commerce

Port News

News and analysis of ocean containerized cargo movement, logistics, supply chains, technology, and end-to-end connectivity. Maritime news and analysis of containerized ocean cargo movement, breakbulk and roll-on and roll-off shipping from origin to destination.

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