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<div class="phx-topic abstract-wrapper">Qatar Airways ordered two 777-200 freighters from Boeing on Tuesday, as the Doha-based carrier aims to expand its long-range service to become one of the world&amp;rsquo;s largest air cargo operators with</div>

Qatar Airways ordered two 777-200 freighters from Boeing on Tuesday, as the Doha-based carrier aims to expand its long-range service to become one of the world&rsquo;s largest air cargo operators with

<div>Qatar Airways ordered two 777-200 freighters from Boeing on Tuesday, as the Doha-based carrier aims to expand its long-range service to become one of the world&amp;rsquo;s largest air cargo operators within five years. The carrier plans to expand its current cargo fleet of six freighters &amp;mdash; three 777s and three A300s &amp;mdash; to 11 freighters over the next four years, and eight of the aircraft will be 777 freighters. &amp;ldquo;With its payload and range capability, reliability and economics, the Boeing 777 has met our high expectations, operating to cities in North America, Europe, Africa and Asia Pacific non-stop from Doha,&amp;rdquo;...

Qatar Airways ordered two 777-200 freighters from Boeing on Tuesday, as the Doha-based carrier aims to expand its long-range service to become one of the world&rsquo;s largest air cargo operators within five years. The carrier plans to expand its current cargo fleet of six freighters &mdash; three 777s and three A300s &mdash; to 11 freighters over the next four years, and eight of the aircraft will be 777 freighters. &ldquo;With its payload and range capability, reliability and economics, the Boeing 777 has met our high expectations, operating to cities in North America, Europe, Africa and Asia Pacific non-stop from Doha,&rdquo; said CEO Akbar Al Baker. The carrier began freighter service to Atlanta, Houston and Toronto earlier this month, adding to the cargo unit&rsquo;s dedicated service to Chicago. The flights are routed via the Luxembourg hub of Cargolux, the European all-cargo carrier in which Quatar Airways took a 35 percent stake in June. -- Contact Mark Szakonyi at mszakonyi@joc.com . Follow him on Twitter @Szakonyi_JOC

Qatar Airways Orders Two 777-200 Freighters

<div class="phx-topic abstract-wrapper">The deals come as regional rate indices are trending at multi-month highs for key markets including Southeast Asia, South Korea, Japan, and China.</div>

The deals come as regional rate indices are trending at multi-month highs for key markets including Southeast Asia, South Korea, Japan, and China.

Feature image

<div class="phx-topic">Intra-Asia carriers, buoyed by higher rates and consistent demand, have placed a flurry of new vessel orders over the past month totaling more than $1 billion. The deals come as regional rate indices produced by the Shanghai Shipping Exchange (SSE) and Korea Ocean Business Corporation are trending at multi-month highs for key markets including Southeast Asia, South Korea, Japan, and China. Rates from Shanghai to South Korea of $164 per TEU are the highest since July 2024, according to SSE data carried on the Journal of Commerce’s Gateway platform. SSE data also shows that although Shanghai-Singapore rates have fallen from a pre-Lunar New Year peak in December and January, at $500/TEU they are still higher now than they were between February and October of last year. KOBC’s Korea-China index is at its highest since August 2023, while its Korea-Southeast Asia index is at its highest since last July. That comes as intra-Asia container volumes are expected to grow by around 3% this year following last year’s 5% increase to almost 50 million TEUs, solidifying the region’s position as the world’s biggest container shipping market. China and Vietnam remain the biggest regional trade lane, with volumes growing 16% last year to 2.8 million TEUs, according to maritime consultancy Drewry. <h3>SITC orders six vessels to expand owned fleet </h3>The growth in the intra-Asia trade was highlighted by Hong Kong-listed SITC on Thursday, which said it was ordering six 1,100-TEU vessels to expand its owned fleet of container ships to meet increasing demand. That came after it saw an 8% increase in container volumes last year to almost 3.9 million TEUs, while average freight rates rose 4.5% to $753/TEU. The carrier said the ships, costing $137 million in total, would be built by Jiangsu Yangzi Hongyuan Shipbuilding Co. and Jiangsu New Yangzi Shipbuilding Co., both subsidiaries of China’s largest privately owned shipyard, Yangzijiang Shipbuilding. The ships will be delivered between March and August 2028, SITC said. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="5439cd86-4e96-4e60-8206-85350f1635ec"></dynamic-object></div>SITC is the biggest intra-Asia container line in terms of capacity with a fleet of 119 ships totaling 184,961 TEUs that ranks 14th largest globally, according to Alphaliner. Fellow Hong Kong-listed regional carrier TS Lines also highlighted Asia-Pacific growth opportunities for its decision to order six 2,900-TEU ships at a total cost of $253 million from Fujian Mawei Shipbuilding and Xiamen Shipbuilding Industry Co. The ships would also strengthen the carrier’s ability to provide more frequent services and help it achieve long-term cost advantages, the carrier said in an announcement confirming the orders on March 20. The ships are scheduled for delivery in June and August 2028 and May 2029. Two South Korean carriers — Korea Marine Transport Company and HMM — are also expanding their regional fleets. KMTC said it has ordered six 1,800-TEU ships at a cost of $259 million from HD Hyundai (Medium) that are expected to increase its fleet to more than 70 ships with total capacity of over 165,000 TEUs. The new vessels will be delivered between August 2027 and June 2028. HMM, meanwhile, placed a $168 million order this month, also with HD Hyundai (Medium), for three 2,800-TEU ships that will join the carrier’s regional fleet in June, August, and October 2027. China’s Shanghai Jinjiang Shipping (JJ Shipping) confirmed on March 10 it had contracted Jiangsu New Yangzi Shipbuilding to build up to eight 1,900-TEU ships costing a combined $240 million. The ships will be deployed on Southeast Asia services upon delivery between June 2028 and July 2029. Separately, Indonesia-headquartered, Singapore-listed Samudera Shipping said it would launch operations at its regional Blue Ocean Shipping joint venture in Japan with Imoto Lines shortly following the delivery of two container ships on March 17. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com</a>. </div>

Intra-Asia carriers, buoyed by higher rates and consistent demand, have placed a flurry of new vessel orders over the past month totaling more than $1 billion. The deals come as regional rate indices produced by the Shanghai Shipping Exchange (SSE) and Korea Ocean Business Corporation are trending at multi-month highs for key markets including Southeast Asia, South Korea, Japan, and China. Rates from Shanghai to South Korea of $164 per TEU are the highest since July 2024, according to SSE data carried on the Journal of Commerce’s Gateway platform. SSE data also shows that although Shanghai-Singapore rates have fallen from a pre-Lunar New Year peak in December and January, at $500/TEU they are still higher now than they were between February and October of last year. KOBC’s Korea-China index is at its highest since August 2023, while its Korea-Southeast Asia index is at its highest since last July. That comes as intra-Asia container volumes are expected to grow by around 3% this year following last year’s 5% increase to almost 50 million TEUs, solidifying the region’s position as the world’s biggest container shipping market. China and Vietnam remain the biggest regional trade lane, with volumes growing 16% last year to 2.8 million TEUs, according to maritime consultancy Drewry. SITC orders six vessels to expand owned fleet The growth in the intra-Asia trade was highlighted by Hong Kong-listed SITC on Thursday, which said it was ordering six 1,100-TEU vessels to expand its owned fleet of container ships to meet increasing demand. That came after it saw an 8% increase in container volumes last year to almost 3.9 million TEUs, while average freight rates rose 4.5% to $753/TEU. The carrier said the ships, costing $137 million in total, would be built by Jiangsu Yangzi Hongyuan Shipbuilding Co. and Jiangsu New Yangzi Shipbuilding Co., both subsidiaries of China’s largest privately owned shipyard, Yangzijiang Shipbuilding. The ships will be delivered between March and August 2028, SITC said. SITC is the biggest intra-Asia container line in terms of capacity with a fleet of 119 ships totaling 184,961 TEUs that ranks 14th largest globally, according to Alphaliner. Fellow Hong Kong-listed regional carrier TS Lines also highlighted Asia-Pacific growth opportunities for its decision to order six 2,900-TEU ships at a total cost of $253 million from Fujian Mawei Shipbuilding and Xiamen Shipbuilding Industry Co. The ships would also strengthen the carrier’s ability to provide more frequent services and help it achieve long-term cost advantages, the carrier said in an announcement confirming the orders on March 20. The ships are scheduled for delivery in June and August 2028 and May 2029. Two South Korean carriers — Korea Marine Transport Company and HMM — are also expanding their regional fleets. KMTC said it has ordered six 1,800-TEU ships at a cost of $259 million from HD Hyundai (Medium) that are expected to increase its fleet to more than 70 ships with total capacity of over 165,000 TEUs. The new vessels will be delivered between August 2027 and June 2028. HMM, meanwhile, placed a $168 million order this month, also with HD Hyundai (Medium), for three 2,800-TEU ships that will join the carrier’s regional fleet in June, August, and October 2027. China’s Shanghai Jinjiang Shipping (JJ Shipping) confirmed on March 10 it had contracted Jiangsu New Yangzi Shipbuilding to build up to eight 1,900-TEU ships costing a combined $240 million. The ships will be deployed on Southeast Asia services upon delivery between June 2028 and July 2029. Separately, Indonesia-headquartered, Singapore-listed Samudera Shipping said it would launch operations at its regional Blue Ocean Shipping joint venture in Japan with Imoto Lines shortly following the delivery of two container ships on March 17. Contact Keith Wallis at keithwallis@hotmail.com .

Intra-Asia carriers spend $1 billion on new ships amid buoyant trade, rate growth

<div class="phx-topic abstract-wrapper">Suppliers and manufacturers are unwilling to make long-lead investments in next-gen nuclear projects without credible signals that the demand for them exists, according to a new report. </div>

Suppliers and manufacturers are unwilling to make long-lead investments in next-gen nuclear projects without credible signals that the demand for them exists, according to a new report.

<div class="phx-topic">US nuclear energy development is surging after a series of recent approvals and initiatives to advance domestic projects — including a $40 billion deal the US struck with Japan to build next-gen reactors in southern states and a Bill Gates-backed startup receiving the federal green light to construct a first-of-its-kind reactor in Wyoming. But reactor developers will need to work through supply chain bottlenecks for those projects to materialize, according to a new report by a nuclear advocacy group. Nuclear energy projects are lining up to become a significant source of future breakbulk and project cargo as energy companies push to expand the US reactor fleet and the infrastructure to support domestic uranium production, conversion, and enrichment. The Trump administration has set a goal of expanding nuclear energy capacity from 100 gigawatts (GW) to 400 GW by 2050, while having 10 large reactors under construction in the US by 2030. But those goals could prove challenging as a “self-reinforcing market paralysis” threatens to upend the supply chain for next-gen nuclear reactors under development, according to a March 20 report from the Nuclear Scaling Initiative. The analysis, prepared by energy consultancy Solestiss and funded by the Bezos Earth Fund, suggests suppliers and manufacturers are unwilling to make long-lead investments in next-gen nuclear projects without credible signals that the demand for them exists. And utilities, it says, are reluctant to commit to these new energy sources because of cost, schedule, and supply chain uncertainties. “This dynamic suppresses investment in manufacturing capacity, workforce pipelines, qualification infrastructure, and fuel supply — compounding the very risks that deter demand,” the report stated. With supplier bases limited, a vertical integration trend is emerging, with reactor developers opting to take on the manufacturing themselves domestically instead of importing components from overseas. “Rather than waiting for a fragmented and unreliable external market to mature, several leading companies are choosing to become their own suppliers out of necessity (or, in some cases, as a hallmark of their culture),” the report stated. <h3>Key advances for reactor fleet </h3>Recent weeks have brought major project developments for advanced small modular reactors, or SMRs, the next-gen reactors expected to drive future nuclear energy output. SMRs consist of modular components that can be delivered and assembled onsite and have been touted as a more cost- and time-efficient alternative to large-scale reactors, which can cost billions and take decades to build. SMRs are still under development in the US but growing in numbers, with the first reactors set to come online by the end of the decade. On March 19, the US and Japan announced a $40 billion deal to have GE Vernova and Hitachi build SMRs in Tennessee and Alabama. Along with that project, Japan will invest up to $33 billion in natural gas power plants in Pennsylvania and Texas. The energy deals are part of a five-year, $550 billion trade agreement made last year between the US and Japan to accelerate next-generation nuclear technology. And in a key milestone for next-gen reactors, Bill Gates startup TerraPower on March 4 became the first developer to win federal approval to build a commercial SMR in the US. The Natrium advanced reactor project will be constructed in Kemmerer, Wyoming, and is targeted for completion in 2030. <h3>Policy changes meant to speed development </h3>Policy changes are also taking shape to expand the domestic reactor fleet. On March 12, the US Department of Energy rolled out an initiative to use existing nuclear energy infrastructure to put more power on the grid. Dubbed the Utility Power Reactor Incremental Scaling Effort (UPRISE), the initiative aims to expand US nuclear energy capacity by increasing the power output of existing reactors, bringing dormant facilities back online, completing stalled projects, and advancing new reactor construction. UPRISE has set a goal to achieve 2.5 GW of additional nuclear capacity by 2027 and 5 GW of total additional nuclear capacity by 2029.  In Florida, lawmakers have been taking steps to streamline the approval process for constructing nuclear reactors. On March 5, the Florida House of Representatives unanimously approved legislation authorizing the state to oversee the permitting for advanced nuclear reactor construction, taking oversight from the US Nuclear Regulatory Commission. Kim Casey, investor relations director for US uranium provider Energy Fuels, told the Journal of Commerce that regulatory, permitting and litigation timelines present additional challenges that could prolong the development of nuclear energy projects. “What we know from past experience is that building new reactors doesn’t happen quickly,” she said. Casey said the approval of TerraPower’s advanced SMR represents a “huge step” in the nuclear buildout. “I think that will tell us a lot, if things go smoothly. There’s certainly a bipartisan appetite for nuclear,” she said. The question, Casey said, becomes how nuclear developers will deal with the regulatory approval process, which can involve decades of reviews and permitting. “If they can shorten that up with support of administrations around the world, that will be exceptional not only for the industry, but for electrification across the globe,” she said. Contact Autumn Cafiero Giusti at <a href="mailto:autumn@autumngiusti.com">autumn@autumngiusti.com</a>. </div>

US nuclear energy development is surging after a series of recent approvals and initiatives to advance domestic projects — including a $40 billion deal the US struck with Japan to build next-gen reactors in southern states and a Bill Gates-backed startup receiving the federal green light to construct a first-of-its-kind reactor in Wyoming. But reactor developers will need to work through supply chain bottlenecks for those projects to materialize, according to a new report by a nuclear advocacy group. Nuclear energy projects are lining up to become a significant source of future breakbulk and project cargo as energy companies push to expand the US reactor fleet and the infrastructure to support domestic uranium production, conversion, and enrichment. The Trump administration has set a goal of expanding nuclear energy capacity from 100 gigawatts (GW) to 400 GW by 2050, while having 10 large reactors under construction in the US by 2030. But those goals could prove challenging as a “self-reinforcing market paralysis” threatens to upend the supply chain for next-gen nuclear reactors under development, according to a March 20 report from the Nuclear Scaling Initiative. The analysis, prepared by energy consultancy Solestiss and funded by the Bezos Earth Fund, suggests suppliers and manufacturers are unwilling to make long-lead investments in next-gen nuclear projects without credible signals that the demand for them exists. And utilities, it says, are reluctant to commit to these new energy sources because of cost, schedule, and supply chain uncertainties. “This dynamic suppresses investment in manufacturing capacity, workforce pipelines, qualification infrastructure, and fuel supply — compounding the very risks that deter demand,” the report stated. With supplier bases limited, a vertical integration trend is emerging, with reactor developers opting to take on the manufacturing themselves domestically instead of importing components from overseas. “Rather than waiting for a fragmented and unreliable external market to mature, several leading companies are choosing to become their own suppliers out of necessity (or, in some cases, as a hallmark of their culture),” the report stated. Key advances for reactor fleet Recent weeks have brought major project developments for advanced small modular reactors, or SMRs, the next-gen reactors expected to drive future nuclear energy output. SMRs consist of modular components that can be delivered and assembled onsite and have been touted as a more cost- and time-efficient alternative to large-scale reactors, which can cost billions and take decades to build. SMRs are still under development in the US but growing in numbers, with the first reactors set to come online by the end of the decade. On March 19, the US and Japan announced a $40 billion deal to have GE Vernova and Hitachi build SMRs in Tennessee and Alabama. Along with that project, Japan will invest up to $33 billion in natural gas power plants in Pennsylvania and Texas. The energy deals are part of a five-year, $550 billion trade agreement made last year between the US and Japan to accelerate next-generation nuclear technology. And in a key milestone for next-gen reactors, Bill Gates startup TerraPower on March 4 became the first developer to win federal approval to build a commercial SMR in the US. The Natrium advanced reactor project will be constructed in Kemmerer, Wyoming, and is targeted for completion in 2030. Policy changes meant to speed development Policy changes are also taking shape to expand the domestic reactor fleet. On March 12, the US Department of Energy rolled out an initiative to use existing nuclear energy infrastructure to put more power on the grid. Dubbed the Utility Power Reactor Incremental Scaling Effort (UPRISE), the initiative aims to expand US nuclear energy capacity by increasing the power output of existing reactors, bringing dormant facilities back online, completing stalled projects, and advancing new reactor construction. UPRISE has set a goal to achieve 2.5 GW of additional nuclear capacity by 2027 and 5 GW of total additional nuclear capacity by 2029.  In Florida, lawmakers have been taking steps to streamline the approval process for constructing nuclear reactors. On March 5, the Florida House of Representatives unanimously approved legislation authorizing the state to oversee the permitting for advanced nuclear reactor construction, taking oversight from the US Nuclear Regulatory Commission. Kim Casey, investor relations director for US uranium provider Energy Fuels, told the Journal of Commerce that regulatory, permitting and litigation timelines present additional challenges that could prolong the development of nuclear energy projects. “What we know from past experience is that building new reactors doesn’t happen quickly,” she said. Casey said the approval of TerraPower’s advanced SMR represents a “huge step” in the nuclear buildout. “I think that will tell us a lot, if things go smoothly. There’s certainly a bipartisan appetite for nuclear,” she said. The question, Casey said, becomes how nuclear developers will deal with the regulatory approval process, which can involve decades of reviews and permitting. “If they can shorten that up with support of administrations around the world, that will be exceptional not only for the industry, but for electrification across the globe,” she said. Contact Autumn Cafiero Giusti at autumn@autumngiusti.com .

Nuclear projects advance in US, but need to overcome ‘market paralysis’

<div class="phx-topic abstract-wrapper">Several regional carriers, typically second- and third-rung players in the industry, have opened new dedicated shuttle services connecting Nhava Sheva and Mundra in India to the Middle East/Persian Gulf corridor. </div>

Several regional carriers, typically second- and third-rung players in the industry, have opened new dedicated shuttle services connecting Nhava Sheva and Mundra in India to the Middle East/Persian Gulf corridor.

<div class="phx-topic">The Middle East crisis is driving a fresh influx of capacity into major Indian ports from smaller, nimble liner operators willing to offer wider Persian Gulf port reach despite the war. That comes as long-haul carriers keep operations in the conflict region either suspended or limited to certain ports deemed safe. Several opportunistic regional carriers, typically second- and third-rung players in the industry, have opened new dedicated shuttle services connecting Nhava Sheva and Mundra in India to the Middle East/Persian Gulf corridor, according to market sources. Gulf Feeder Shipping is one notable name among those rushing into the market. The UAE-based feeder line this week kicked off a new loop with direct calls to Jeddah and King Abdullah in Saudi Arabia, Sokhna in Egypt and Aqaba in Jordan. Gulftainer’s short-haul arm GT Lines is also primed to operate two separate shuttle loops from India’s Nhava Sheva and Mundra to the UAE’s Khor Fakkan in a pendulum fashion, using a fleet of three ships. Emboldened regional carriers see the Middle East crisis as yet another opportunity to reap strong freight earnings, reminiscent of the Red Sea diversions when mainline carriers were entirely avoiding the Suez Canal route due to attacks from Houthi militants while smaller liners nonetheless maintained services in the hostile region. <h3>Capacity demand to move rerouted containers </h3>Capacity demand on the disrupted Middle East trade lane has been massive in recent weeks as cargo owners look to evacuate Asian containers rerouted to Indian ports. That comes on top of the typical fiscal year-end export rush seen during March in India. Both factors are beginning to choke storage yards, according to market sources. Meanwhile, some mainliners are deploying ad-hoc vessels to clear up stranded boxes and pick up some high-yield export bookings. Cosco Shipping has positioned a vessel for an early-April sailing from three ports of loading in West India for Fujairah (UAE) and Sohar (Oman) connections, joining CMA CGM in that alternative supply chain push. Ocean rates from India to the Middle East have surged since the war, with average Nhava Sheva-Khor Fakkan/Fujairah booking rates now at about $3,500 per FEU. Space for loads to Sohar is even hotter, with carrier pricing hovering at around $4,500 per FEU. Contact Bency Mathew at <a href="mailto:bencyvmathew@gmail.com">bencyvmathew@gmail.com</a>. </div>

The Middle East crisis is driving a fresh influx of capacity into major Indian ports from smaller, nimble liner operators willing to offer wider Persian Gulf port reach despite the war. That comes as long-haul carriers keep operations in the conflict region either suspended or limited to certain ports deemed safe. Several opportunistic regional carriers, typically second- and third-rung players in the industry, have opened new dedicated shuttle services connecting Nhava Sheva and Mundra in India to the Middle East/Persian Gulf corridor, according to market sources. Gulf Feeder Shipping is one notable name among those rushing into the market. The UAE-based feeder line this week kicked off a new loop with direct calls to Jeddah and King Abdullah in Saudi Arabia, Sokhna in Egypt and Aqaba in Jordan. Gulftainer’s short-haul arm GT Lines is also primed to operate two separate shuttle loops from India’s Nhava Sheva and Mundra to the UAE’s Khor Fakkan in a pendulum fashion, using a fleet of three ships. Emboldened regional carriers see the Middle East crisis as yet another opportunity to reap strong freight earnings, reminiscent of the Red Sea diversions when mainline carriers were entirely avoiding the Suez Canal route due to attacks from Houthi militants while smaller liners nonetheless maintained services in the hostile region. Capacity demand to move rerouted containers Capacity demand on the disrupted Middle East trade lane has been massive in recent weeks as cargo owners look to evacuate Asian containers rerouted to Indian ports. That comes on top of the typical fiscal year-end export rush seen during March in India. Both factors are beginning to choke storage yards, according to market sources. Meanwhile, some mainliners are deploying ad-hoc vessels to clear up stranded boxes and pick up some high-yield export bookings. Cosco Shipping has positioned a vessel for an early-April sailing from three ports of loading in West India for Fujairah (UAE) and Sohar (Oman) connections, joining CMA CGM in that alternative supply chain push. Ocean rates from India to the Middle East have surged since the war, with average Nhava Sheva-Khor Fakkan/Fujairah booking rates now at about $3,500 per FEU. Space for loads to Sohar is even hotter, with carrier pricing hovering at around $4,500 per FEU. Contact Bency Mathew at bencyvmathew@gmail.com .

Opportunistic regional lines rush to Middle East corridor amid mainliner pause

<div class="phx-topic abstract-wrapper">Gateway Terminals named Bryan Blalock as its next president after Georgia Ports hired the stevedore’s current leader to be its next CEO. </div>

Gateway Terminals named Bryan Blalock as its next president after Georgia Ports hired the stevedore’s current leader to be its next CEO.

<div class="phx-topic">The Port of Savannah’s container stevedore has picked a new president as its current leader transitions to running the port. The Georgia Ports Authority (GPA) said in a statement Thursday that Bryan Blalock will become the next president of Gateway Terminals as of April 13. Gateway Terminals is a joint venture of Ports America and SSA Marine. Blalock will succeed Kevin Price, <a href="https://www.joc.com/article/gpa-names-next-ceo-as-savannah-readies-for-new-growth-phase-6167449">the GPA’s pick for its next chief executive starting in mid-2027</a>. Price, who will first take a role as GPA president in July, said in the statement that Blalock “has worked in all facets of our industry, brings excellent working relationships in our region and will be immediately effective in his new role, allowing a seamless management transition.” Blalock joins Gateway Terminals from Charleston-based CMC, the diversified provider of repair and maintenance services to the container industry, where he was chief operating officer responsible for 1,900 employees across more than 60 operations. Blalock has worked in the ports industry for over 35 years, the GPA said, including, according to his LinkedIn profile, 16 years with APM Terminals. Contact Michael Angell at <a href="mailto:michael.angell@spglobal.com">michael.angell@spglobal.com</a>. </div>

The Port of Savannah’s container stevedore has picked a new president as its current leader transitions to running the port. The Georgia Ports Authority (GPA) said in a statement Thursday that Bryan Blalock will become the next president of Gateway Terminals as of April 13. Gateway Terminals is a joint venture of Ports America and SSA Marine. Blalock will succeed Kevin Price, the GPA’s pick for its next chief executive starting in mid-2027 . Price, who will first take a role as GPA president in July, said in the statement that Blalock “has worked in all facets of our industry, brings excellent working relationships in our region and will be immediately effective in his new role, allowing a seamless management transition.” Blalock joins Gateway Terminals from Charleston-based CMC, the diversified provider of repair and maintenance services to the container industry, where he was chief operating officer responsible for 1,900 employees across more than 60 operations. Blalock has worked in the ports industry for over 35 years, the GPA said, including, according to his LinkedIn profile, 16 years with APM Terminals. Contact Michael Angell at michael.angell@spglobal.com .

Port of Savannah’s container stevedore picks new president

<div class="phx-topic abstract-wrapper">Rolf Habben Jansen told reporters that most of the new costs were coming from rising bunker fuel prices, with other areas such as insurance, container storage and inland transportation adding millions of dollars to weekly expenses. </div>

Rolf Habben Jansen told reporters that most of the new costs were coming from rising bunker fuel prices, with other areas such as insurance, container storage and inland transportation adding millions of dollars to weekly expenses.

<div class="phx-topic">The war in the Middle East has raised Hapag-Lloyd’s operating costs by $40 million to $50 million per week, a reality that “is not something that you can sustain for very long,” the carrier’s CEO said Thursday. Rolf Habben Jansen told reporters during a briefing that most of the new costs were coming from rising bunker fuel prices, with other areas such as insurance, container storage and inland transportation adding millions of dollars to weekly expenses. “To counterbalance that, we have introduced a number of contingency and emergency fuel surcharges,” he said. “This is not to collect more than the extra costs, but an extra cost of $40 million or $50 million per week is not something that you can sustain for very long.” While the disruption caused by the war has spilled over to ports outside the Persian Gulf, unlike the COVID-19 pandemic, the conflict is affecting only 3% of global container traffic, according to Hapag-Lloyd. But from a cost perspective, the impact is immense and growing. Emergency fuel surcharges <a href="https://www.joc.com/article/war-reignites-tussle-between-ocean-carriers-cargo-owners-over-fuel-surcharges-6188632">have been rolled out by several carriers</a> on top of quarterly bunker adjustment factors that were no match for fuel prices that have doubled since the conflict started on Feb. 28. Still, the practice drew swift condemnation from Global Shippers’ Council director James Hookham. “Sure, shipping lines need to watch their costs just like the rest of us but it’s not as if they don’t have working capital reserves of their own,” he told the Journal of Commerce. “The speed with which these charges are being imposed makes it nigh impossible for shippers to recover them from their own customers or suppliers.” On Monday, the US Federal Maritime Commission <a href="https://www.joc.com/article/fmc-rejects-requests-by-carriers-to-waive-waiting-period-for-middle-east-surcharges-6191881">unanimously rejected separate requests from four ocean carriers</a> to waive a 30-day notice period to implement surcharges tied to the war in the Middle East, forcing the four to wait until early April to charge their shipper customers. <h3>Ships trapped in the Gulf </h3>Hapag-Lloyd, meanwhile, has six fully crewed vessels that remain trapped in the Persian Gulf that the carrier is urgently trying to move out of harm’s way. There are unconfirmed reports that Iran is asking carriers to pay a “toll fee” of $1 million or $2 million per ship to guarantee safe passage through the Strait of Hormuz; Habben Jansen was asked whether Hapag-Lloyd would pay Tehran to secure its six ships. “We are pursuing every avenue that we can to try to get the ships and the crews safely out, and I would not rule out anything at this point,” he said. Habben Jansen declined to speculate on what a worst-case scenario around bunker fuel shortages would look like should Hormuz remain effectively closed, but he acknowledged that the longer the conflict continued, the greater the impact on the industry. “What we see is a lot of extra costs that we have to absorb for now, and in the short term that has a negative impact,” he said. “Longer term, it’s still difficult to judge, but we assume that we will be able to recover that extra cost and that’s why we are sticking with our annual forecast.” Hapag-Lloyd has left its 2026 profitability forecast unchanged, but left a wide gap between the high and low ends of the financial guidance. It expects group earnings before interest, taxes, depreciation and amortization to be between $1.1 billion and $3.1 billion, and earnings before interest and taxes to be between a $1.5 billion loss and a $500 million profit. The carrier has forecast that global volumes in 2026 will grow 3% year over year against market capacity growth of 4%. Hapag-Lloyd is trying to ringfence the Middle East conflict from an operational perspective to allow the rest of its network to run as normal, but it is being done in an environment of significant uncertainty, Habben Jansen acknowledged. “There are many things that could happen as a consequence of this conflict and it depends on how long it takes, because it could also have a negative effect on global demand or it could have a positive effect if it ends soon,” he said. Contact Greg Knowler at <a href="mailto:greg.knowler@spglobal.com">greg.knowler@spglobal.com</a>. </div>

The war in the Middle East has raised Hapag-Lloyd’s operating costs by $40 million to $50 million per week, a reality that “is not something that you can sustain for very long,” the carrier’s CEO said Thursday. Rolf Habben Jansen told reporters during a briefing that most of the new costs were coming from rising bunker fuel prices, with other areas such as insurance, container storage and inland transportation adding millions of dollars to weekly expenses. “To counterbalance that, we have introduced a number of contingency and emergency fuel surcharges,” he said. “This is not to collect more than the extra costs, but an extra cost of $40 million or $50 million per week is not something that you can sustain for very long.” While the disruption caused by the war has spilled over to ports outside the Persian Gulf, unlike the COVID-19 pandemic, the conflict is affecting only 3% of global container traffic, according to Hapag-Lloyd. But from a cost perspective, the impact is immense and growing. Emergency fuel surcharges have been rolled out by several carriers on top of quarterly bunker adjustment factors that were no match for fuel prices that have doubled since the conflict started on Feb. 28. Still, the practice drew swift condemnation from Global Shippers’ Council director James Hookham. “Sure, shipping lines need to watch their costs just like the rest of us but it’s not as if they don’t have working capital reserves of their own,” he told the Journal of Commerce. “The speed with which these charges are being imposed makes it nigh impossible for shippers to recover them from their own customers or suppliers.” On Monday, the US Federal Maritime Commission unanimously rejected separate requests from four ocean carriers to waive a 30-day notice period to implement surcharges tied to the war in the Middle East, forcing the four to wait until early April to charge their shipper customers. Ships trapped in the Gulf Hapag-Lloyd, meanwhile, has six fully crewed vessels that remain trapped in the Persian Gulf that the carrier is urgently trying to move out of harm’s way. There are unconfirmed reports that Iran is asking carriers to pay a “toll fee” of $1 million or $2 million per ship to guarantee safe passage through the Strait of Hormuz; Habben Jansen was asked whether Hapag-Lloyd would pay Tehran to secure its six ships. “We are pursuing every avenue that we can to try to get the ships and the crews safely out, and I would not rule out anything at this point,” he said. Habben Jansen declined to speculate on what a worst-case scenario around bunker fuel shortages would look like should Hormuz remain effectively closed, but he acknowledged that the longer the conflict continued, the greater the impact on the industry. “What we see is a lot of extra costs that we have to absorb for now, and in the short term that has a negative impact,” he said. “Longer term, it’s still difficult to judge, but we assume that we will be able to recover that extra cost and that’s why we are sticking with our annual forecast.” Hapag-Lloyd has left its 2026 profitability forecast unchanged, but left a wide gap between the high and low ends of the financial guidance. It expects group earnings before interest, taxes, depreciation and amortization to be between $1.1 billion and $3.1 billion, and earnings before interest and taxes to be between a $1.5 billion loss and a $500 million profit. The carrier has forecast that global volumes in 2026 will grow 3% year over year against market capacity growth of 4%. Hapag-Lloyd is trying to ringfence the Middle East conflict from an operational perspective to allow the rest of its network to run as normal, but it is being done in an environment of significant uncertainty, Habben Jansen acknowledged. “There are many things that could happen as a consequence of this conflict and it depends on how long it takes, because it could also have a negative effect on global demand or it could have a positive effect if it ends soon,” he said. Contact Greg Knowler at greg.knowler@spglobal.com .

War adding $40-$50 million per week to Hapag-Lloyd's costs: CEO

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