<div class="phx-topic abstract-wrapper"><p>Most catalogs are vehicles for the selling of goods. Through pictures and text, they attempt to sell</p></div>

Most catalogs are vehicles for the selling of goods. Through pictures and text, they attempt to sell

<div><p>Most catalogs are vehicles for the selling of goods. Through pictures and text, they attempt to sell us on the products they portray. They are decidedly not books. In the industry, however, that's precisely what they're called.</p><p></p><p></p><p>Catalogs are known as ''books'' - and nowhere does anyone distinguish between those that sell mukluks and those that purvey literature. A book is a book.Ironically, some of the bigger catalogs have taken this term to heart and become more truly booklike. At 312 pages, L.L. Bean's recent holiday catalog had a ''perfect binding'' - an actual spine that was glued, not stapled.</p><p></p><p></p><p>In the...

Most catalogs are vehicles for the selling of goods. Through pictures and text, they attempt to sell us on the products they portray. They are decidedly not books. In the industry, however, that's precisely what they're called. Catalogs are known as ''books'' - and nowhere does anyone distinguish between those that sell mukluks and those that purvey literature. A book is a book.Ironically, some of the bigger catalogs have taken this term to heart and become more truly booklike. At 312 pages, L.L. Bean's recent holiday catalog had a ''perfect binding'' - an actual spine that was glued, not stapled. In the most fundamental sense, that's one of the defining characteristics of a book - that there's enough content between the covers to require a spine. Inside the covers, some companies take the book metaphor even further. For a number of years, Lands' End has been running short stories and essays alongside its products. Contributors have included Garrison Keillor and Charles Kuralt. It's no secret that this diversion breaks up the monotony of so many polo shirts. It adds an air of quality. In a world where each page can be seen in terms of its dollar potential, these literary pages sell nothing but image. There's no product for us to buy. Instead, we note the difference between this and other catalogs, which use every available inch to move merchandise. For many catalogs, the book model is a bit of a stretch; too few products or pages make for more of a booklet. Yet in certain product categories, most notably home furnishings, books show up as a major prop. The Pottery Barn catalog is a case in point. A recent issue weighed in with 119 pages, more than a third of which featured books as part of the decor. Judging by the presence of books in countless settings - on tables, floors, hassocks, trunks, shelves and trays - we are a culture of readers. Nowhere is a videotape to be found - just endless books of the type people don't actually read. Plato's ''Collected Dialogues'' and ''Julia Morgan, Architect'' aren't exactly page-turners, though they convey a sense of substance and weight. Reality is not the point - creating a certain mood is. Books and the associations they evoke are an essential part of catalog marketing. But as the costs of paper, printing, and postage increase, catalogs become more expensive to produce. In time, perhaps catalogs will take their cues from books, which rarely just descend upon us, much less repeatedly. If companies would send out fewer catalogs that we would keep, not toss, that, alone, would save a fortune. And consumers might value catalogs more, like the books they aspire to be.

A BOOK BY ANY OTHER APPELLATION

<div class="phx-topic abstract-wrapper"><p>Power generation cargoes gave the heavy-lift sector a welcome boost in 2025, and it’s a cargo stream that will not dry up anytime soon.</p></div>

Power generation cargoes gave the heavy-lift sector a welcome boost in 2025, and it’s a cargo stream that will not dry up anytime soon.

Feature image

<div class="phx-topic"><p><i>The following is part of the Journal of Commerce’s 2026 Annual Review and Outlook.</i> </p><p>Cargo volumes are stacking up nicely as the breakbulk and project sector sails into 2026, but are there enough ships to carry them? The short answer: It depends on the commodity. The <i>Journal of Commerce</i> projects fleet growth for heavy-lift (HL) capable vessels at an average annual rate of 4.1% though 2029, but that might not be enough for the projected boom in heavy-lift cargoes. </p><div class="wrapper-narrow float-right-element"><img src="/images/phoenix/6144851_0.1.jpg"></img></div><p>After two decades of essentially flat energy demand, project cargo-hungry server farms are expected to boost US electricity consumption at a compound annual growth rate of more than 3% from 2025 to 2030, according to an October report from S&amp;P Global Energy. Driven by growth in renewable energy sources, particularly onshore wind and solar power, and demand from a variety of sources including data centers, electric vehicles and the industrial sector, global power generation is expected to increase by an average of 3.3% per year through 2030. </p><p>Power generation cargoes gave the heavy-lift sector a welcome boost in 2025. With lead times for transformer and generator orders in some cases stretching beyond project development timescales, this is a cargo stream that will not dry up anytime soon. </p><p>Two years into the generative AI revolution, the mismatch between data center power requirements and supply has reached a critical point. This has led to growing interest in thermal energy options as evolving policy reshapes the energy sector. Momentum continues for the nuclear industry, while gas turbine orders are at their highest levels in nearly 25 years, and coal unit retirement plans are being delayed. </p><p>One shipper of transformers into the US told the <i>Journal of Commerce</i> they had never seen a market like it. All the big manufacturers are effectively full through 2030 as new power plants are being built, while older facilities — some of which are over 40 years old in the US — replace machinery. </p><div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="517f1375-3744-4198-b50b-91d9eca08b4d"></dynamic-object></div><p>While the shipment of larger pieces is the domain of specialized multipurpose carriers, the smaller pieces needed to manufacture a turbine or generator have more options for carriage. Equally, modules needed for new technology plants — such as chip manufacturers — are significantly lighter than modules being shipped for, say, a gas liquefaction plant. This extra breakbulk demand gives shippers the option to shop around for transport options.  </p><h3>Metals and mining ‘on steroids’ </h3><p>Another project cargo-hungry sector is metals and mining, described by one shipper as currently “on steroids.” Copper is in particularly high demand due to its role in the green energy transition and for electric vehicle manufacturing. The International Energy Agency warned in December that there could be a global supply deficit of 30% by 2035 due to declining ore grades, rising capital costs and lengthy project development timelines despite increased investment in the sector.  </p><p>There are several copper projects in South America that are expanding and more in Southeast Asia and the US that are at the feasibility stage. If these projects are commissioned, then demand for mining equipment will rocket — a boon for roll-on/roll-off carriers best suited to carrying these cargoes.   </p><p>Meanwhile, simpler multipurpose vessels (MPV) are projected to grow at just 0.5% per year over the same period. But these are the vessels that will compete with container carriers and bulkers, sectors in which overcapacity was already a problem as 2025 closed. When the Suez Canal route is deemed safe again, both fleets could see an effective capacity increase of up to 10%. </p><p><i>Contact Susan Oatway at </i><a href="mailto:susan.oatway@spglobal.com"><i>susan.oatway@spglobal.com.</i></a></p></div>

The following is part of the Journal of Commerce’s 2026 Annual Review and Outlook. Cargo volumes are stacking up nicely as the breakbulk and project sector sails into 2026, but are there enough ships to carry them? The short answer: It depends on the commodity. The Journal of Commerce projects fleet growth for heavy-lift (HL) capable vessels at an average annual rate of 4.1% though 2029, but that might not be enough for the projected boom in heavy-lift cargoes. After two decades of essentially flat energy demand, project cargo-hungry server farms are expected to boost US electricity consumption at a compound annual growth rate of more than 3% from 2025 to 2030, according to an October report from S&P Global Energy. Driven by growth in renewable energy sources, particularly onshore wind and solar power, and demand from a variety of sources including data centers, electric vehicles and the industrial sector, global power generation is expected to increase by an average of 3.3% per year through 2030. Power generation cargoes gave the heavy-lift sector a welcome boost in 2025. With lead times for transformer and generator orders in some cases stretching beyond project development timescales, this is a cargo stream that will not dry up anytime soon. Two years into the generative AI revolution, the mismatch between data center power requirements and supply has reached a critical point. This has led to growing interest in thermal energy options as evolving policy reshapes the energy sector. Momentum continues for the nuclear industry, while gas turbine orders are at their highest levels in nearly 25 years, and coal unit retirement plans are being delayed. One shipper of transformers into the US told the Journal of Commerce they had never seen a market like it. All the big manufacturers are effectively full through 2030 as new power plants are being built, while older facilities — some of which are over 40 years old in the US — replace machinery. While the shipment of larger pieces is the domain of specialized multipurpose carriers, the smaller pieces needed to manufacture a turbine or generator have more options for carriage. Equally, modules needed for new technology plants — such as chip manufacturers — are significantly lighter than modules being shipped for, say, a gas liquefaction plant. This extra breakbulk demand gives shippers the option to shop around for transport options. Metals and mining ‘on steroids’ Another project cargo-hungry sector is metals and mining, described by one shipper as currently “on steroids.” Copper is in particularly high demand due to its role in the green energy transition and for electric vehicle manufacturing. The International Energy Agency warned in December that there could be a global supply deficit of 30% by 2035 due to declining ore grades, rising capital costs and lengthy project development timelines despite increased investment in the sector. There are several copper projects in South America that are expanding and more in Southeast Asia and the US that are at the feasibility stage. If these projects are commissioned, then demand for mining equipment will rocket — a boon for roll-on/roll-off carriers best suited to carrying these cargoes. Meanwhile, simpler multipurpose vessels (MPV) are projected to grow at just 0.5% per year over the same period. But these are the vessels that will compete with container carriers and bulkers, sectors in which overcapacity was already a problem as 2025 closed. When the Suez Canal route is deemed safe again, both fleets could see an effective capacity increase of up to 10%. Contact Susan Oatway at susan.oatway@spglobal.com.

Breakbulk carriers

Ro/ro cargo

Energy projects

Heavy-haul transport

Project cargo

Breakbulk News

Energy-related transport, metals and mining to lift project cargo sector in 2026

<div class="phx-topic abstract-wrapper"><p>Few blank sailings have been announced for January, and none this week, as shippers in Asia get their cargo on the water ahead of China’s Lunar New Year factory shutdown.</p></div>

Few blank sailings have been announced for January, and none this week, as shippers in Asia get their cargo on the water ahead of China’s Lunar New Year factory shutdown.

<div class="phx-topic"><p>The annual pre-Lunar New Year rush is underway on the Asia-North Europe ocean trade, with some market watchers reporting signs of frontloading on top of seasonal demand while others feel the volumes in January are within historical norms.</p><p>What is clear, however, is that carriers are injecting significant capacity into the trade lane this month while blanking very few sailings as shippers race to get their cargo on the water before factories across China close for up to three weeks. The Year of the Horse begins on Feb. 17.</p><p>Peter Sand, chief analyst at Xeneta, said capacity offered on Asia to North Europe was at an all-time high this week with no blank sailings. Data from Xeneta’s eeSea shows a record 1.15 million TEUs in capacity is being deployed this month on the Asia-North Europe trade lane, with blank sailings removing just 25,000 TEUs. In February, the planned capacity will drop to just over 1 million TEUs.</p><p>“Demand is solid and seasonally strong ... anything of top of that could be fueled by [market] uncertainty,” Sand told the <i>Journal of Commerce</i>.</p><p>Sea-Intelligence Maritime Analysis also highlighted a significant capacity increase, pointing to current weekly capacity of 421,825 TEUs being offered on Asia-North Europe, a 49% net increase compared with a 2015–19 pre-COVID-19 historical baseline.</p><div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="a63d21f3-de18-45d8-8acf-7aca6ea4f4c4"></dynamic-object></div><p>“This is a strong indication of a frontloading strategy where shippers are pushing massive volumes into the network much earlier than the historical figures suggest, likely a response to the current extended Asia-Europe transit times,” Sea-Intelligence wrote in the newsletter.</p><p>“By flooding the trade lane early, shippers aim to ensure that their European inventory is buffered before the planned Lunar New Year capacity withdrawal begins,” the analyst noted.</p><h3>Demand following seasonal patterns</h3><p>A spokesman for Hapag-Lloyd said demand on the eastbound trade routes from Asia to Europe was following seasonal patterns.</p><p>“We’re witnessing a normal peak season which started in December and is now ramping up towards Lunar New Year,” a spokesperson for Hapag-Lloyd told the <i>Journal of Commerce</i>. “We expect bookings to soften from end-January onwards as factories close.”</p><p>Michael Aldwell, executive vice president of sea logistics at Kuehne + Nagel, said most of the forwarder’s customers in Europe used a “just-in-time” approach to manage supply chains and stock levels, which was affecting the duration of peak shipping periods.</p><p>“[However], after two years of extended transit times, shippers are adjusting their plans accordingly, leading to a more stretched peak season,” Aldwell told the <i>Journal of Commerce</i>.</p><p>Rising spot rates are accompanying the strong pre-Lunar New Year demand, with all indexes showing steep increases since early October. According to Platts, a sister company of the <i>Journal of Commerce</i> within S&amp;P Global, Asia-North Europe rates of $2,700 per FEU this week are more than double the Oct. 3 price. Container Trades Statistics, in its latest available data (October), shows Asia-North Europe container volume growth of almost 8% over the first 10 months of 2025 as oscillating US tariffs on Beijing saw Chinese shippers redirecting cargo to European markets. </p><p><i>Contact Greg Knowler at </i><a href="mailto:greg.knowler@spglobal.com"><i>greg.knowler@spglobal.com</i></a><i>.</i></p></div>

The annual pre-Lunar New Year rush is underway on the Asia-North Europe ocean trade, with some market watchers reporting signs of frontloading on top of seasonal demand while others feel the volumes in January are within historical norms. What is clear, however, is that carriers are injecting significant capacity into the trade lane this month while blanking very few sailings as shippers race to get their cargo on the water before factories across China close for up to three weeks. The Year of the Horse begins on Feb. 17. Peter Sand, chief analyst at Xeneta, said capacity offered on Asia to North Europe was at an all-time high this week with no blank sailings. Data from Xeneta’s eeSea shows a record 1.15 million TEUs in capacity is being deployed this month on the Asia-North Europe trade lane, with blank sailings removing just 25,000 TEUs. In February, the planned capacity will drop to just over 1 million TEUs. “Demand is solid and seasonally strong ... anything of top of that could be fueled by [market] uncertainty,” Sand told the Journal of Commerce. Sea-Intelligence Maritime Analysis also highlighted a significant capacity increase, pointing to current weekly capacity of 421,825 TEUs being offered on Asia-North Europe, a 49% net increase compared with a 2015–19 pre-COVID-19 historical baseline. “This is a strong indication of a frontloading strategy where shippers are pushing massive volumes into the network much earlier than the historical figures suggest, likely a response to the current extended Asia-Europe transit times,” Sea-Intelligence wrote in the newsletter. “By flooding the trade lane early, shippers aim to ensure that their European inventory is buffered before the planned Lunar New Year capacity withdrawal begins,” the analyst noted. Demand following seasonal patterns A spokesman for Hapag-Lloyd said demand on the eastbound trade routes from Asia to Europe was following seasonal patterns. “We’re witnessing a normal peak season which started in December and is now ramping up towards Lunar New Year,” a spokesperson for Hapag-Lloyd told the Journal of Commerce. “We expect bookings to soften from end-January onwards as factories close.” Michael Aldwell, executive vice president of sea logistics at Kuehne + Nagel, said most of the forwarder’s customers in Europe used a “just-in-time” approach to manage supply chains and stock levels, which was affecting the duration of peak shipping periods. “[However], after two years of extended transit times, shippers are adjusting their plans accordingly, leading to a more stretched peak season,” Aldwell told the Journal of Commerce. Rising spot rates are accompanying the strong pre-Lunar New Year demand, with all indexes showing steep increases since early October. According to Platts, a sister company of the Journal of Commerce within S&P Global, Asia-North Europe rates of $2,700 per FEU this week are more than double the Oct. 3 price. Container Trades Statistics, in its latest available data (October), shows Asia-North Europe container volume growth of almost 8% over the first 10 months of 2025 as oscillating US tariffs on Beijing saw Chinese shippers redirecting cargo to European markets. Contact Greg Knowler at greg.knowler@spglobal.com .

Asia-Europe

Container Shipping News

Maritime

Asia-Europe ocean carriers add capacity as trade enters peak shipping period

<div class="phx-topic abstract-wrapper"><p>The deals for nine feeder container ships and four multipurpose and heavy-lift ships total about $490 million, according to Cosco and shipbrokers.</p></div>

The deals for nine feeder container ships and four multipurpose and heavy-lift ships total about $490 million, according to Cosco and shipbrokers.

<div class="phx-topic"><p>Cosco Shipping has awarded the initial tranche of shipbuilding contracts in its $7 billion fleet expansion and modernization program with China Shipbuilding Group announced in early December. </p><p>The deals for nine feeder container ships and four multipurpose and heavy-lift ships total about $490 million, according to Cosco and shipbrokers. </p><p>The larger package has been signed by Cosco Shipping Lines with CSSC Wuchang Shipbuilding for five 1,100-TEU feeder container ships and four 1,800-TEU vessels at a total cost of about $280 million. Seven of the ships will be delivered in 2028, with the remaining two in 2029.  </p><p>Shipbrokers say the 1,100-TEU ships are priced at about $30 million each, with the larger 1,800-TEU vessels costing $32 million. The ships are expected to be deployed on Cosco’s domestic network and its intra-Europe network operated by its Hamburg-headquartered affiliated carrier, Diamond Line. </p><p>Meanwhile, a deal valued at $213 million was awarded by Cosco Shipping Specialized Carriers to CSSC Chengxi Shipyard for four 40,000-deadweight metric ton multipurpose and heavy-lift ships, Cosco said in a three-page statement to the Shanghai stock exchange. </p><p>The first ship will be delivered in June 2028, with two more following in September and December 2028; the final ship will join Cosco’s specialized fleet in February 2029. </p><p>The orders have been placed against a background of modest fleet growth in the global MPV and heavy-lift sector. The global fleet is set to expand by just 1.9% through 2029 as vessel scrapping largely keeps pace with new vessel deliveries, according to data published on the <i>Journal of Commerce</i>’s Gateway platform. </p><p>The new vessels are expected to support Cosco’s expansion into the global wind energy sector. </p><div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="fb97885d-0b88-4d65-99f6-10558c9e7c79"></dynamic-object></div><p>“The trend toward larger-scale and deep-sea wind power has placed higher requirements on the scale and vessel type structure of the company’s multipurpose heavy-lift fleet,” Cosco said. </p><p>Cosco has won a raft of wind energy transportation deals, especially in Europe. It completed the final shipment last month of monopiles for the Inch Cape offshore project in Scotland. </p><p>Cosco said the new ships will generate an internal rate of return of 6.8% with an “investment payback period of 11.8 years, indicating good economic benefits.” </p><p>Cosco has one of the world’s largest fleets of MPVs and heavy-lift ships with approximately 70 vessels and 10 semi-submersible deck carriers, which makes it the biggest operator of semi-submersible ships. </p><p><i>Contact Keith Wallis at </i><a href="mailto:keithwallis@hotmail.com"><i>keithwallis@hotmail.com</i></a>.</p></div>

Cosco Shipping has awarded the initial tranche of shipbuilding contracts in its $7 billion fleet expansion and modernization program with China Shipbuilding Group announced in early December. The deals for nine feeder container ships and four multipurpose and heavy-lift ships total about $490 million, according to Cosco and shipbrokers. The larger package has been signed by Cosco Shipping Lines with CSSC Wuchang Shipbuilding for five 1,100-TEU feeder container ships and four 1,800-TEU vessels at a total cost of about $280 million. Seven of the ships will be delivered in 2028, with the remaining two in 2029. Shipbrokers say the 1,100-TEU ships are priced at about $30 million each, with the larger 1,800-TEU vessels costing $32 million. The ships are expected to be deployed on Cosco’s domestic network and its intra-Europe network operated by its Hamburg-headquartered affiliated carrier, Diamond Line. Meanwhile, a deal valued at $213 million was awarded by Cosco Shipping Specialized Carriers to CSSC Chengxi Shipyard for four 40,000-deadweight metric ton multipurpose and heavy-lift ships, Cosco said in a three-page statement to the Shanghai stock exchange. The first ship will be delivered in June 2028, with two more following in September and December 2028; the final ship will join Cosco’s specialized fleet in February 2029. The orders have been placed against a background of modest fleet growth in the global MPV and heavy-lift sector. The global fleet is set to expand by just 1.9% through 2029 as vessel scrapping largely keeps pace with new vessel deliveries, according to data published on the Journal of Commerce’s Gateway platform. The new vessels are expected to support Cosco’s expansion into the global wind energy sector. “The trend toward larger-scale and deep-sea wind power has placed higher requirements on the scale and vessel type structure of the company’s multipurpose heavy-lift fleet,” Cosco said. Cosco has won a raft of wind energy transportation deals, especially in Europe. It completed the final shipment last month of monopiles for the Inch Cape offshore project in Scotland. Cosco said the new ships will generate an internal rate of return of 6.8% with an “investment payback period of 11.8 years, indicating good economic benefits.” Cosco has one of the world’s largest fleets of MPVs and heavy-lift ships with approximately 70 vessels and 10 semi-submersible deck carriers, which makes it the biggest operator of semi-submersible ships. Contact Keith Wallis at keithwallis@hotmail.com .

Container lines

Cosco awards initial newbuilding deals as part of $7 billion fleet expansion

<div class="phx-topic abstract-wrapper"><p>While the new delay — on products reliant on wood imports — provides a respite for importers of the affected goods, it prolongs for another year a period of uncertainty over how tariffs might impact the cost of what they sell.</p></div>

While the new delay — on products reliant on wood imports — provides a respite for importers of the affected goods, it prolongs for another year a period of uncertainty over how tariffs might impact the cost of what they sell.

<div class="phx-topic"><p>The Trump administration’s decision to postpone a hefty, planned hike in tariffs on upholstered furniture, kitchen cabinets and bathroom vanities <a href="https://www.joc.com/article/white-house-rolls-back-tariffs-on-broad-list-of-food-and-ag-imports-6116742">echoes a move in mid-November</a> by the White House to delay planned tariff increases on food and agriculture imports. </p><p>The most recent tariffs, on products reliant on wood imports, were due to increase Jan. 1 from the existing 25% to between 30% and 50%, depending on the product. </p><p>But those increases have been suspended for a year and now will go into effect Jan. 1, 2027 due to “productive negotiations with trade partners” in addressing trade reciprocity and national security concerns, the Trump administration announced New Year’s Eve. The tariff rollback in November came less than two weeks after Democrats were overwhelmingly successful on Election Day, winning a number of key state and local races where affordability and the rising cost of everyday products were key issues, with opponents of the Trump administration pinning the hikes on tariffs. </p><p>While the latest tariff delay provides a respite for importers of affected products in the furniture and cabinetry industries, it prolongs for another year a period of uncertainty over how tariffs might impact the cost of the goods they sell, trade associations in the furniture and home building industries said. </p><p>“With the nation facing a housing affordability crisis, [the National Association of Home Builders] continues to urge the president to exempt building materials as part of his tariff strategy because they raise construction costs, impede supply chains and place upward pressure on home prices,” the group said in a statement. </p><p><i>Contact Eric Johnson at </i><a href="mailto:eric.johnson@spglobal.com"><i>eric.johnson@spglobal.com</i></a>.</p></div>

The Trump administration’s decision to postpone a hefty, planned hike in tariffs on upholstered furniture, kitchen cabinets and bathroom vanities echoes a move in mid-November by the White House to delay planned tariff increases on food and agriculture imports. The most recent tariffs, on products reliant on wood imports, were due to increase Jan. 1 from the existing 25% to between 30% and 50%, depending on the product. But those increases have been suspended for a year and now will go into effect Jan. 1, 2027 due to “productive negotiations with trade partners” in addressing trade reciprocity and national security concerns, the Trump administration announced New Year’s Eve. The tariff rollback in November came less than two weeks after Democrats were overwhelmingly successful on Election Day, winning a number of key state and local races where affordability and the rising cost of everyday products were key issues, with opponents of the Trump administration pinning the hikes on tariffs. While the latest tariff delay provides a respite for importers of affected products in the furniture and cabinetry industries, it prolongs for another year a period of uncertainty over how tariffs might impact the cost of the goods they sell, trade associations in the furniture and home building industries said. “With the nation facing a housing affordability crisis, [the National Association of Home Builders] continues to urge the president to exempt building materials as part of his tariff strategy because they raise construction costs, impede supply chains and place upward pressure on home prices,” the group said in a statement. Contact Eric Johnson at eric.johnson@spglobal.com .

Transport, Trade and Regulation News

Supply chain

Latest tariff delay by Trump echoes postponement from November

<div class="phx-topic abstract-wrapper"><p>But tariffs on steel, aluminum and copper could present challenges for energy and data center construction projects.</p></div>

But tariffs on steel, aluminum and copper could present challenges for energy and data center construction projects.

<div class="phx-topic"><p><i>The following is part of the Journal of Commerce’s 2026 Annual Review and Outlook.</i> </p><p><b>The big picture:</b> Key sources of maritime project cargo are in a state of flux, with US markets pulling back from renewable energy projects such as wind and solar and forging ahead with oil and gas. Meanwhile, the rapid rise of AI is driving the construction of data centers and semiconductor facilities, plus infrastructure to support their massive power and water demands. But these changes have been somewhat overshadowed by tariffs on imported steel, copper and other necessary components for these projects. </p><div class="wrapper-narrow float-right-element"><img src="/images/phoenix/6144850_0.1.jpg"></img></div><p><b>A look back:</b> After declaring a national energy emergency upon taking office in January, US President Donald Trump unleashed rapid-fire executive orders shifting policies and funding to prioritize fossil fuels over renewable energy sources and bolster domestic mining and production. Infrastructure investments by US energy utilities, including traditional and renewable sources, were projected to reach $214.7 billion in 2025, a 24% increase from the previous year, according to a September report from S&amp;P Global Energy. The Trump administration took dramatic steps to direct that momentum toward fossil fuels, cutting nearly $8 billion in funding for clean energy projects, issuing directives aimed at deregulation and expanded leasing access, and permanently reinstating a 100% tax write-off for qualifying oil and gas assets. As a result, the development pipeline for US offshore wind contracted by more than half in 2025, falling from a planned 56 GW to 25.4 GW, according to a November report from the Energy Industries Council.  </p><p>To accelerate domestic mining, the administration fast-tracked the permitting process for more than two dozen mineral projects. And with nuclear power staging a comeback, Trump called for the construction of 10 large reactors to begin by 2030 and a quadrupling of domestic nuclear capacity to 400 GW by 2050. </p><p><b>A look ahead:</b> Global investments in the construction of data centers and related infrastructure to support AI technology — already on track to exceed $1.5 trillion by 2030, according to a projection from consultant McKinsey — are expected to ramp up this year. The US leads in data center capacity, accounting for over 40% of the global total, and is expected to increase its already sizable share over the next few years, according to S&amp;P Global 451 Research. Data centers will rely heavily on semiconductor chip production, which stands to benefit from legislation expanding the US federal tax credit for chip plant development to 35% from the 25% available under the 2022 US CHIPS and Science Act. </p><p>With data centers requiring massive amounts of power, liquefied natural gas and nuclear facilities are emerging as potential solutions. A multi-billion-dollar wave of LNG terminal construction in North America will continue apace, with Venture Global’s $28 billion CP2 LNG export project on the Gulf Coast of southwest Louisiana scheduled for completion by 2027. </p><div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="4ddbad16-8b85-4f54-986b-bb5abaa57f2b"></dynamic-object></div><p><b>The next inflection:</b> Tariffs on steel, aluminum and copper could present challenges for energy and data center construction projects. In the oil and gas industry, US tariffs on these materials — along with components such as drilling rigs, valves, compressors and specialized steel worth nearly $10 billion in 2024 — could increase material and service costs by 4% to 40%, according to a November report by Deloitte. For the US data center sector, “tariffs will raise the cost of key environmental control and power transformation equipment, which will further drive inflation for US-built equipment,” S&amp;P Global Market Intelligence said in a 2026 supply chain outlook. </p><p><i>Contact Autumn Cafiero Giusti at </i><a href="mailto:autumn@autumngiusti.com"><i>autumn@autumngiusti.com</i></a><i>.</i> </p></div>

The following is part of the Journal of Commerce’s 2026 Annual Review and Outlook. The big picture: Key sources of maritime project cargo are in a state of flux, with US markets pulling back from renewable energy projects such as wind and solar and forging ahead with oil and gas. Meanwhile, the rapid rise of AI is driving the construction of data centers and semiconductor facilities, plus infrastructure to support their massive power and water demands. But these changes have been somewhat overshadowed by tariffs on imported steel, copper and other necessary components for these projects. A look back: After declaring a national energy emergency upon taking office in January, US President Donald Trump unleashed rapid-fire executive orders shifting policies and funding to prioritize fossil fuels over renewable energy sources and bolster domestic mining and production. Infrastructure investments by US energy utilities, including traditional and renewable sources, were projected to reach $214.7 billion in 2025, a 24% increase from the previous year, according to a September report from S&P Global Energy. The Trump administration took dramatic steps to direct that momentum toward fossil fuels, cutting nearly $8 billion in funding for clean energy projects, issuing directives aimed at deregulation and expanded leasing access, and permanently reinstating a 100% tax write-off for qualifying oil and gas assets. As a result, the development pipeline for US offshore wind contracted by more than half in 2025, falling from a planned 56 GW to 25.4 GW, according to a November report from the Energy Industries Council. To accelerate domestic mining, the administration fast-tracked the permitting process for more than two dozen mineral projects. And with nuclear power staging a comeback, Trump called for the construction of 10 large reactors to begin by 2030 and a quadrupling of domestic nuclear capacity to 400 GW by 2050. A look ahead: Global investments in the construction of data centers and related infrastructure to support AI technology — already on track to exceed $1.5 trillion by 2030, according to a projection from consultant McKinsey — are expected to ramp up this year. The US leads in data center capacity, accounting for over 40% of the global total, and is expected to increase its already sizable share over the next few years, according to S&P Global 451 Research. Data centers will rely heavily on semiconductor chip production, which stands to benefit from legislation expanding the US federal tax credit for chip plant development to 35% from the 25% available under the 2022 US CHIPS and Science Act. With data centers requiring massive amounts of power, liquefied natural gas and nuclear facilities are emerging as potential solutions. A multi-billion-dollar wave of LNG terminal construction in North America will continue apace, with Venture Global’s $28 billion CP2 LNG export project on the Gulf Coast of southwest Louisiana scheduled for completion by 2027. The next inflection: Tariffs on steel, aluminum and copper could present challenges for energy and data center construction projects. In the oil and gas industry, US tariffs on these materials — along with components such as drilling rigs, valves, compressors and specialized steel worth nearly $10 billion in 2024 — could increase material and service costs by 4% to 40%, according to a November report by Deloitte. For the US data center sector, “tariffs will raise the cost of key environmental control and power transformation equipment, which will further drive inflation for US-built equipment,” S&P Global Market Intelligence said in a 2026 supply chain outlook. Contact Autumn Cafiero Giusti at autumn@autumngiusti.com .

US energy policy overhaul, data center investments signal project cargo shift

Use code GTW595 at checkout and save $900 on first year of an annual Gold subscription!

Upgrade Subscription - Gold Trials

Become a Gold Subscriber and Save!

Arm your team with the most trusted information portal for the international container shipping industry.

Group Subscriptions - Wide Box

Get into a group subscription today

Use code NYW26 at checkout to save 25% on a Silver or Silver Plus annual subscription! 

Subscribe Now - FT to S/SP - Wide Box

NEW YEAR SALE

Use code NYW595 and upgrade to Gold for just $595! Valid for first year of subscription.

Upgrade Subscription - S/SP to Gold - Wide Box

Subscribe today using code NYW26 at checkout and save 25% on a Silver or Silver Plus annual subscription!

Subscribe Now - Anonymous to S/SP - Wide Box

Use code NYW995 at checkout to save $500 on first year of a Gold subscription!

Subscribe Now - FT to Gold - Wide Box

Get into a Gold subscription today and save $500 by using code NYW995 at checkout!

Subscribe Now - Anonymous to Gold - Wide Box

NEW YEAR SALE: Use code NYW26 to save 25% on first year of a Silver or Silver Plus annual subscription!


Subscribe Now - FT to S/SP - Offer Box

Subscribe and Save

NEW YEAR SALE: Subscribe today using code NYW26 at checkout and save 25% on a Silver or Silver Plus annual subscription!

Subscribe Now - Anonymous to S/SP - Offer Box

SUBSCRIBE TODAY

UPGRADE TO GOLD AND SAVE: Use code GTW595 at checkout and save $900 on first year of a Gold subscription!

Upgrade Subscription

NEW YEAR SALE: Get into a Gold subscription today and save $500 by using code NYW995 at checkout!

Subscribe Now - Anonymous to Gold - Offer Box

NEW YEAR SALE: Use code NYW595 and upgrade to Gold for just $595! Valid on first year of subscription.

Upgrade Subscription - S/SP to Gold - Offer Box

NEW YEAR SALE: Use code NYW995 at checkout to save $500 on a Gold subscription!

Subscribe Now - FT to Gold - Offer Box

SUBSCRIBE AND SAVE

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

TPM Conference - Rectangle Box

Attend TPM26

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

Latest News

More News & Analysis

Energy-related transport, metals and mining to lift project cargo sector in 2026

Asia-Europe ocean carriers add capacity as trade enters peak shipping period

Cosco awards initial newbuilding deals as part of $7 billion fleet expansion