<div class="phx-topic abstract-wrapper">Construction is scheduled to start by the end of 2017 on Porto Central.</div>

Construction is scheduled to start by the end of 2017 on Porto Central.

<div>A project to build a large port with access to the Brazilian heartland and the country’s two largest population centers is well under way in the southeastern state of Espirito Santo.Construction is scheduled to start by the end of 2017 on Porto Central, a 5 billion reais ($1.6 billion) project that would cover 4,752 acres and handle containers, bulk, and breakbulk cargo in addition to supporting offshore oil operations.The port’s first phase would provide annual capacity of 300,000 twenty-foot-equivalent units. Porto Central will have 15 berths and eventually have a draft of 25 meters (82 feet), which would be more...

A project to build a large port with access to the Brazilian heartland and the country’s two largest population centers is well under way in the southeastern state of Espirito Santo. Construction is scheduled to start by the end of 2017 on Porto Central, a 5 billion reais ($1.6 billion) project that would cover 4,752 acres and handle containers, bulk, and breakbulk cargo in addition to supporting offshore oil operations. The port’s first phase would provide annual capacity of 300,000 twenty-foot-equivalent units. Porto Central will have 15 berths and eventually have a draft of 25 meters (82 feet), which would be more than enough for the largest mega-ships afloat. l “It is our intention to build up a hub port for containers in our port because we believe the size of the vessels is growing, growing, growing, and in Brazil we do not have the ports with the deep water to deal with those bigger ships,” said Jose Salomao Fadlalah, a director at Porto Central. The port would be a joint venture between the Port of Rotterdam and TPK Logistics, which have signed an agreement with Van Oord Dredging and Marine Contractors to develop detailed plans for the project. The JV is unique for Brazil. It will prepare the sites for the port and its road and rail links, and will act as a landlord. The facilities at each terminal will be built by other private entities. One global terminal operator rumored to be interested in a container terminal at the port is PSA International. The port’s deep draft and possible eventual capacity of more than 1 million TEUs has promoters suggesting that Porto Central, in tiny Presidente Kennedy, could become the largest transshipment hub on the east coast of South America. “This would be an ideal location for hub port operations, and we have been talking to some major international port operators to run such an operation,” Fadlalah said. The only container terminal now operating in the state of Espirito Santo is Vitoria’s Terminal Vilha Velha, which is owned and operated by Log-In Logistica, the last surviving Brazilian-flag container carrier. Terminal Vilha Velha has a draft of only 10.5 meters (just under 35 feet). The harbor depth could be increased, but turning-basin restrictions impose a 230-meter limit on ships’ length. In recent years the port has lost several of its deep-sea calls after it no longer was able to levy extra-low import duties. Porto Central could also face some competition from the nearby Porto Acu, which has a general cargo operation, but no public intentions for large-scale container operations. Acu would challenge Porto Central most for offshore oil support business. Another advantage that Porto Central will have over its competitors is that it will not have to rely on casual labor from the expensive OGMO labor pool. Disputes over the pool have led to sporadic protests , shutdowns , and even the storming of ships at Santos, Brazil’s biggest container gateway. Contact Rob Ward at rcward788@btinternet.com .

Breakbulk News

International ports

Joint venture lays groundwork for Brazilian mega-port

<div class="phx-topic abstract-wrapper">Contract shippers have not felt the impact of the surge last month in spot market truckload rates, but that could change amid market uncertainty as 2026 begins.</div>

Contract shippers have not felt the impact of the surge last month in spot market truckload rates, but that could change amid market uncertainty as 2026 begins.

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<div class="phx-topic">The newfound strength in US truckload pricing could become a turning point if it lasts until mid-February, long enough that shippers could see it in their contracts, but there are also plenty of hazards that could cause the freight recession to linger into a fourth year, analysts warn. Truckload spot rates were largely tepid between February and November, but shot up 19 cents per mile in December from November, which was also a 9.1% increase year over year, according to a Journal of Commerce analysis of truckload data from DAT Freight and Analytics and managed transportation provider Loadsmart. The average national rate paid by shippers last month was $2.46 per mile across the US, including fuel, on lanes 250 miles or greater. “I do think a lot of (the) rate increase in December was weather driven...winter weather hitting the Midwest and Northeast,” David Spencer, vice president of market intelligence at Arrive Logistics, said Tuesday on the Meet Me for Coffee podcast hosted by Samantha Jones. “Rates are going to come back down. I think it’s a short-lived season volatility.” Jason Miller, professor of supply chain management at Michigan State University, said the key month to watch is February. Rates tend to remain slightly elevated in January because of the reverse logistics involved in returning Christmas gifts. But if rates remain elevated through February — which Miller doesn’t believe will happen — then pricing power could shift to the carriers. “We’re entering this year, from a manufacturing standpoint, in a worse position today than we were entering last year,” Miller said on the podcast. A shipper who did not want to be identified told the Journal of Commerce that his contract truckload carriers have not broached the subject of raising contract rates based off the December spot market surge. <h3>Data picture is cloudy </h3>Economists are working through the backlog of data that accumulated during the 43-day government shutdown in October and November. “The hard part is that we’re still waiting for a lot of government data that we’d love to have,” Miller said. “New single family home permits were down 10% year over year last August, but that feels like ancient history.” The S&amp;P Global Manufacturing Purchasing Managers Index was in expansion territory in December at 51.8, but the outlook was much more cautious. “Something of a Wile E. Coyote scenario has developed, whereby – just like the cartoon character continues to run despite chasing the roadrunner off a cliff – factories are continuing to produce goods despite suffering a drop in orders,” wrote Chris Williamson, chief business economist at S&amp;P Global Market Intelligence. The gap between production and new orders was the widest since the Great Recession of 2008-2009, indicating “current factory production levels are clearly unsustainable,” Williamson wrote. That’s relevant because industrial freight powers the trucks and railroads, hauling raw materials and intermediate products used to make durable and non-durable consumer products. There are other signs that could cool the December euphoria of carriers, including the federal government this month beginning to garnish the wages of those who are delinquent on their student loans, a practice that was halted during the COVID-19 pandemic. “Holiday shopping is often on credit cards, and so when we start seeing wage garnishments to pay student loans, it’s going to create real strain on some consumers,” Aaron Terrazas, an independent economist who previously worked for companies such as Convoy, Glassdoor and Zillow, said on the Jones webcast. <h3>Things could change fast </h3>Despite the lackluster macroeconomic picture, there are unknowns that could quickly shock the market and shift pricing power back to carriers. The US Supreme Court must rule on whether President Donald Trump had the authority to use the International Emergency Economic Powers Act (IEEPA) to apply reciprocal tariffs across dozens of trading partners last year. The Court will hand down a series of rulings this Friday, but it’s unknown if the tariffs case will be one of them. If the Court rules against Trump, and the Federal Reserve continues to lower interest rates, then it could create a one-two punch that could shock the markets. "There will be a window which I think shippers will just force as much they can through the pipe before the administration finds another way to get tariffs in place," Terrazas said. "If the pipe opens, even if it's for just two or three months, I think you'll see just an absolute bonanza... It'll be absolute and total hell on all transportation managers [shippers].” If the Court rules for Trump, however, the administration has floated the idea of issuing tariff rebate checks of up to $2,000 to US citizens. If people receive that money, it could be the demand catalyst to kickstart a freight recovery, according to Terrazas and Miller. There is also the battle between the US Department of Transportation (USDOT) and several states over rescinding non-domiciled commercial driver’s licenses (CDLs) to asylum seekers and other visa holders that were previously qualified. California announced a 60-day extension on canceling the non-domiciled CDLs, kicking the issue to March, while the USDOT has threatened to withhold federal funds over that decision. It’s unclear what the impact on both truckload and port drayage would be if California canceled as many as 17,000 non-domiciled CDLs.”I think vulnerability to sustained disruption is a major issue,” Spencer said on the webcast. “Use this past little stretch in December as a good indicator of what to expect because there are going to be periods of volatility.” Contact Ari Ashe at <a href="mailto:ari.ashe@spglobal.com">ari.ashe@spglobal.com</a></div>

The newfound strength in US truckload pricing could become a turning point if it lasts until mid-February, long enough that shippers could see it in their contracts, but there are also plenty of hazards that could cause the freight recession to linger into a fourth year, analysts warn. Truckload spot rates were largely tepid between February and November, but shot up 19 cents per mile in December from November, which was also a 9.1% increase year over year, according to a Journal of Commerce analysis of truckload data from DAT Freight and Analytics and managed transportation provider Loadsmart. The average national rate paid by shippers last month was $2.46 per mile across the US, including fuel, on lanes 250 miles or greater. “I do think a lot of (the) rate increase in December was weather driven...winter weather hitting the Midwest and Northeast,” David Spencer, vice president of market intelligence at Arrive Logistics, said Tuesday on the Meet Me for Coffee podcast hosted by Samantha Jones. “Rates are going to come back down. I think it’s a short-lived season volatility.” Jason Miller, professor of supply chain management at Michigan State University, said the key month to watch is February. Rates tend to remain slightly elevated in January because of the reverse logistics involved in returning Christmas gifts. But if rates remain elevated through February — which Miller doesn’t believe will happen — then pricing power could shift to the carriers. “We’re entering this year, from a manufacturing standpoint, in a worse position today than we were entering last year,” Miller said on the podcast. A shipper who did not want to be identified told the Journal of Commerce that his contract truckload carriers have not broached the subject of raising contract rates based off the December spot market surge. Data picture is cloudy Economists are working through the backlog of data that accumulated during the 43-day government shutdown in October and November. “The hard part is that we’re still waiting for a lot of government data that we’d love to have,” Miller said. “New single family home permits were down 10% year over year last August, but that feels like ancient history.” The S&P Global Manufacturing Purchasing Managers Index was in expansion territory in December at 51.8, but the outlook was much more cautious. “Something of a Wile E. Coyote scenario has developed, whereby – just like the cartoon character continues to run despite chasing the roadrunner off a cliff – factories are continuing to produce goods despite suffering a drop in orders,” wrote Chris Williamson, chief business economist at S&P Global Market Intelligence. The gap between production and new orders was the widest since the Great Recession of 2008-2009, indicating “current factory production levels are clearly unsustainable,” Williamson wrote. That’s relevant because industrial freight powers the trucks and railroads, hauling raw materials and intermediate products used to make durable and non-durable consumer products. There are other signs that could cool the December euphoria of carriers, including the federal government this month beginning to garnish the wages of those who are delinquent on their student loans, a practice that was halted during the COVID-19 pandemic. “Holiday shopping is often on credit cards, and so when we start seeing wage garnishments to pay student loans, it’s going to create real strain on some consumers,” Aaron Terrazas, an independent economist who previously worked for companies such as Convoy, Glassdoor and Zillow, said on the Jones webcast. Things could change fast Despite the lackluster macroeconomic picture, there are unknowns that could quickly shock the market and shift pricing power back to carriers. The US Supreme Court must rule on whether President Donald Trump had the authority to use the International Emergency Economic Powers Act (IEEPA) to apply reciprocal tariffs across dozens of trading partners last year. The Court will hand down a series of rulings this Friday, but it’s unknown if the tariffs case will be one of them. If the Court rules against Trump, and the Federal Reserve continues to lower interest rates, then it could create a one-two punch that could shock the markets. "There will be a window which I think shippers will just force as much they can through the pipe before the administration finds another way to get tariffs in place," Terrazas said. "If the pipe opens, even if it's for just two or three months, I think you'll see just an absolute bonanza... It'll be absolute and total hell on all transportation managers [shippers].” If the Court rules for Trump, however, the administration has floated the idea of issuing tariff rebate checks of up to $2,000 to US citizens. If people receive that money, it could be the demand catalyst to kickstart a freight recovery, according to Terrazas and Miller. There is also the battle between the US Department of Transportation (USDOT) and several states over rescinding non-domiciled commercial driver’s licenses (CDLs) to asylum seekers and other visa holders that were previously qualified. California announced a 60-day extension on canceling the non-domiciled CDLs, kicking the issue to March, while the USDOT has threatened to withhold federal funds over that decision. It’s unclear what the impact on both truckload and port drayage would be if California canceled as many as 17,000 non-domiciled CDLs. ”I think vulnerability to sustained disruption is a major issue,” Spencer said on the webcast. “Use this past little stretch in December as a good indicator of what to expect because there are going to be periods of volatility.” Contact Ari Ashe at ari.ashe@spglobal.com

Trucking News

Truckload

US truckload pricing remains unsettled despite red-hot December

<div class="phx-topic abstract-wrapper">The acquisition continues a wave of supply chain consolidation seen in Australia and New Zealand in recent years as service providers search for inorganic growth in a highly competitive market. </div>

The acquisition continues a wave of supply chain consolidation seen in Australia and New Zealand in recent years as service providers search for inorganic growth in a highly competitive market.

<div class="phx-topic">Medlog Oceania, a subsidiary of Mediterranean Shipping Co. (MSC) operating in Australia and New Zealand, said Wednesday it has signed an agreement to acquire the intermodal business of Melbourne-based Seaway’s, significantly expanding its footprint in the region. The acquisition continues a wave of supply chain consolidation in Australia and New Zealand in recent years as service providers search for inorganic growth in a highly competitive market. Financial details of the acquisition were not disclosed, but the deal is expected to be completed in the first quarter. “This acquisition reinforces our ability to deliver value-added solutions and drive sustainable growth across Oceania,” Giuseppe Prudente, chairman of Medlog, said in a statement. Medlog Oceania provides integrated logistics for Australian businesses, managing supply chains through road, rail and port connectivity. It offers container transport and warehousing, including cold storage, and connects regional exporters to global markets from locations in Western Australia, Victoria and New South Wales. While the acquisition does not include Seaway’s Sea Freight Forwarding, Air Freight and Shipping Agencies divisions, it strengthens Medlog Oceania’s presence in the state of Victoria and in the agricultural heartland on the Victoria-New South Wales border known as Sunraysia. It also supports Medlog’s global sustainability strategy, with the rail component playing a critical role in reducing carbon emissions. Seaway’s intermodal business offers integrated logistics solutions through a combination of road, rail and warehousing services, connecting regional exporters and importers across key markets. Craig McElvaney, CEO of Seaway Group, highlighted the need for scale and investment in offering intermodal services to customers in the region. “The Seaway Board believes its intermodal business has reached a point where its next phase of growth will be best supported by an organization with the scale, resources, and infrastructure to invest in, and expand the business further,” he said in the joint statement. <h3>Acquisitions drive economies of scale </h3>The last few years have seen significant mergers and acquisitions within Oceania’s supply chain and logistics sectors. Medlog itself has been expanding rapidly across Australia with full-suite services introduced in the past two years in addition to acquiring an empty container park near VICT terminal in Melbourne in 2024 and setting up its own intermodal operation and container park in Sydney last September. Other supply chain acquisitions include DP World Australia acquiring Australian logistics provider Silk Logistics in a deal valued at US$115 million in late 2024; Dachser taking over ACA International in 2023 to add Australia and New Zealand to its air and sea network; DHL Supply Chain acquiring Glen Cameron Group in 2022 and last year opening a health logistics facility in Auckland. In 2021, Mondiale Freight Services and VISA Global Logistics merged their international transport and logistics services to launch an $800 million revenue operation reaching across Australia, New Zealand, North Asia, Southeast Asia, the Indian Subcontinent and Europe. Contact Greg Knowler at <a href="mailto:greg.knowler@spglobal.com">greg.knowler@spglobal.com.</a></div>

Medlog Oceania, a subsidiary of Mediterranean Shipping Co. (MSC) operating in Australia and New Zealand, said Wednesday it has signed an agreement to acquire the intermodal business of Melbourne-based Seaway’s, significantly expanding its footprint in the region. The acquisition continues a wave of supply chain consolidation in Australia and New Zealand in recent years as service providers search for inorganic growth in a highly competitive market. Financial details of the acquisition were not disclosed, but the deal is expected to be completed in the first quarter. “This acquisition reinforces our ability to deliver value-added solutions and drive sustainable growth across Oceania,” Giuseppe Prudente, chairman of Medlog, said in a statement. Medlog Oceania provides integrated logistics for Australian businesses, managing supply chains through road, rail and port connectivity. It offers container transport and warehousing, including cold storage, and connects regional exporters to global markets from locations in Western Australia, Victoria and New South Wales. While the acquisition does not include Seaway’s Sea Freight Forwarding, Air Freight and Shipping Agencies divisions, it strengthens Medlog Oceania’s presence in the state of Victoria and in the agricultural heartland on the Victoria-New South Wales border known as Sunraysia. It also supports Medlog’s global sustainability strategy, with the rail component playing a critical role in reducing carbon emissions. Seaway’s intermodal business offers integrated logistics solutions through a combination of road, rail and warehousing services, connecting regional exporters and importers across key markets. Craig McElvaney, CEO of Seaway Group, highlighted the need for scale and investment in offering intermodal services to customers in the region. “The Seaway Board believes its intermodal business has reached a point where its next phase of growth will be best supported by an organization with the scale, resources, and infrastructure to invest in, and expand the business further,” he said in the joint statement. Acquisitions drive economies of scale The last few years have seen significant mergers and acquisitions within Oceania’s supply chain and logistics sectors. Medlog itself has been expanding rapidly across Australia with full-suite services introduced in the past two years in addition to acquiring an empty container park near VICT terminal in Melbourne in 2024 and setting up its own intermodal operation and container park in Sydney last September. Other supply chain acquisitions include DP World Australia acquiring Australian logistics provider Silk Logistics in a deal valued at US$115 million in late 2024; Dachser taking over ACA International in 2023 to add Australia and New Zealand to its air and sea network; DHL Supply Chain acquiring Glen Cameron Group in 2022 and last year opening a health logistics facility in Auckland. In 2021, Mondiale Freight Services and VISA Global Logistics merged their international transport and logistics services to launch an $800 million revenue operation reaching across Australia, New Zealand, North Asia, Southeast Asia, the Indian Subcontinent and Europe. Contact Greg Knowler at greg.knowler@spglobal.com.

Surface

Supply chain

MSC’s Medlog Oceania inks deal for Seaway’s intermodal business

<div class="phx-topic abstract-wrapper">The integration will allow small truckload brokers to automate a range of load processes within their existing transportation management system.</div>

The integration will allow small truckload brokers to automate a range of load processes within their existing transportation management system.

<div class="phx-topic">DAT Freight &amp; Analytics on Wednesday said it has made its Convoy Platform that automates load posting and booking available within AscendTMS, a widely used transportation management system for small to mid-sized truckload freight brokers. The integration is part of a broader evolution away from manual posting on load boards, of which DAT operates the largest one in North America, toward a purely digital process that includes posting, bidding, booking, tracking, shipment documentation and payment. That process was set in motion in July through <a href="https://www.joc.com/article/dat-acquiring-convoy-automation-platform-from-flexport-6051850">DAT’s purchase of Convoy from Flexport</a>, with DAT running the Convoy Platform in parallel to its DAT One load board for brokers that preferred to automate all the constituent parts of a load lifecycle. Loads executed through the Convoy Platform are assessed a transaction fee, with DAT saying that brokers using AscendTMS will benefit from a “pay-as-you-go model” where they pay only for loads matched and completed within their pricing specifications. There are no additional monthly costs or minimum transaction requirements, the companies said in a statement. “Brokers are operating on tighter margins while navigating increasing fraud risk,” Bill Driegert, executive vice president of the Convoy Platform at DAT, said in the statement. “This integration provides AscendTMS users with the advanced freight automation and fraud-protection technology they need without a change in workflow or upfront investment.” AscendTMS CEO Tim Higham said the integration with DAT took a year to build to “work seamlessly 100% of the time.” “This integration is one of the most comprehensive we’ve ever done with any partner,” Higham said. “We expect that in three to five years, close to 100% of all spot market loads that were once posted to DAT (and to other load boards) will be transacted 100% digitally, with zero human involvement from initial match to final payment.” Driegert told the Journal of Commerce at the time of the Convoy acquisition that the platform would give brokers “optionality,” as there were some brokers that are eager to automate while others are still gravitating toward a more digital posting, bidding and booking workflow. <h3>Cost pressures </h3>The integration comes as brokers are under increasing cost pressure to manage their buy rates from carriers and sell rates to shippers. Ken Adamo, chief of analytics at DAT, posted on X Tuesday that December broker gross margins for 933,000 loads across 446 companies in DAT’s platform were $189.47 per load, an average of 9.9% margins. ”Gross margins under 10% are concerning and very rare at an industry level,” he wrote. “Generally, when we see [gross margin percentage] this low, it’s because rates are high and the [gross margin] per load is up.” For example, in December 2021, the gross margin per load was around 11% but that translated into roughly $250 per load. “Not only are we underperforming those margin levels, but brokers are also netting nearly 25% less gross profit per load than other high-rate environments,” Adamo wrote. Contact Eric Johnson at <a href="mailto:eric.johnson@spglobal.com">eric.johnson@spglobal.com</a>. </div>

DAT Freight & Analytics on Wednesday said it has made its Convoy Platform that automates load posting and booking available within AscendTMS, a widely used transportation management system for small to mid-sized truckload freight brokers. The integration is part of a broader evolution away from manual posting on load boards, of which DAT operates the largest one in North America, toward a purely digital process that includes posting, bidding, booking, tracking, shipment documentation and payment. That process was set in motion in July through DAT’s purchase of Convoy from Flexport , with DAT running the Convoy Platform in parallel to its DAT One load board for brokers that preferred to automate all the constituent parts of a load lifecycle. Loads executed through the Convoy Platform are assessed a transaction fee, with DAT saying that brokers using AscendTMS will benefit from a “pay-as-you-go model” where they pay only for loads matched and completed within their pricing specifications. There are no additional monthly costs or minimum transaction requirements, the companies said in a statement. “Brokers are operating on tighter margins while navigating increasing fraud risk,” Bill Driegert, executive vice president of the Convoy Platform at DAT, said in the statement. “This integration provides AscendTMS users with the advanced freight automation and fraud-protection technology they need without a change in workflow or upfront investment.” AscendTMS CEO Tim Higham said the integration with DAT took a year to build to “work seamlessly 100% of the time.” “This integration is one of the most comprehensive we’ve ever done with any partner,” Higham said. “We expect that in three to five years, close to 100% of all spot market loads that were once posted to DAT (and to other load boards) will be transacted 100% digitally, with zero human involvement from initial match to final payment.” Driegert told the Journal of Commerce at the time of the Convoy acquisition that the platform would give brokers “optionality,” as there were some brokers that are eager to automate while others are still gravitating toward a more digital posting, bidding and booking workflow. Cost pressures The integration comes as brokers are under increasing cost pressure to manage their buy rates from carriers and sell rates to shippers. Ken Adamo, chief of analytics at DAT, posted on X Tuesday that December broker gross margins for 933,000 loads across 446 companies in DAT’s platform were $189.47 per load, an average of 9.9% margins. ”Gross margins under 10% are concerning and very rare at an industry level,” he wrote. “Generally, when we see [gross margin percentage] this low, it’s because rates are high and the [gross margin] per load is up.” For example, in December 2021, the gross margin per load was around 11% but that translated into roughly $250 per load. “Not only are we underperforming those margin levels, but brokers are also netting nearly 25% less gross profit per load than other high-rate environments,” Adamo wrote. Contact Eric Johnson at eric.johnson@spglobal.com .

Logistics Technology News

DAT, AscendTMS push Convoy load automation into small broker world

<div class="phx-topic abstract-wrapper">The delay in adopting the IMO’s net-zero emissions framework has injected more uncertainty into an alternative fuel market that was already struggling to attract crucial investment from both the public and private sectors.</div>

The delay in adopting the IMO’s net-zero emissions framework has injected more uncertainty into an alternative fuel market that was already struggling to attract crucial investment from both the public and private sectors.

<div class="phx-topic">The following is part of the Journal of Commerce’s 2026 Annual Review and Outlook. The big picture: The October postponement of a vote on the International Maritime Organization’s (IMO’s) net-zero framework will make it more difficult for ocean carriers to hit already ambitious interim targets for reducing carbon emissions. Opposition from the White House — including threats of retaliation against members voting for the framework — derailed what would have been the first industry-wide emissions-cutting regulations for at least a year, and possibly longer if the US continues to lobby against it over the next 12 months. <div class="wrapper-narrow float-right-element"><img src="/images/phoenix/6144852_0.1.jpg"></img></div>A look back: Significant divisions emerged between IMO member states over the net-zero framework, which includes midterm measures limiting carbon intensity in maritime fuel and an emissions pricing mechanism. But after intense debate at the IMO’s Marine Environmental Protection Committee (MEPC) meeting in London in April, the majority of member states voted to accept the framework. At that point, it seemed like a foregone conclusion that the IMO would officially adopt the framework during the October MEPC meeting and roll the regulations out globally in 2027. But the Trump administration had other ideas, and after an extensive campaign supported by petrostates and some of the world’s largest flag states, the IMO delayed voting on the measure until October 2026 at the earliest, putting global emissions goals for 2030 in serious doubt. In addition, the delay has injected more uncertainty into an alternative fuel market that was already struggling to attract crucial investment from both the public and private sectors. A look ahead: The MEPC will meet again this coming October, but a vote on the net-zero framework is not guaranteed. 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 and methanol as the green fuels of choice in newbuild vessel orders. Even if the lack of a global regulatory framework from the IMO results in a patchwork of regional emissions-cutting initiatives, investment in dual-fuel ships capable of running on LNG or methanol will likely prove to be money well spent. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="af67ccea-0445-4726-bb51-ae3b852484b9"></dynamic-object></div>The next inflection: Narrowing the price differential between alternative fuels and traditional carbon-based fuel will be the key that unlocks adoption and accelerates the decarbonization of maritime shipping. Green fuels such as e-methanol, e-methane and green ammonia remain significantly more expensive than conventional bunkers, and the availability of biofuels is limited by supply constraints and high demand from other sectors such as aviation. The IMO adopting its net-zero framework would be a major step toward narrowing the price gap, guaranteeing demand for fuel suppliers hesitant to invest in large-scale production and, in turn, increasing availability and lowering costs for carriers. Contact Greg Knowler at <a href="mailto:greg.knowler@spglobal.com">greg.knowler@spglobal.com</a>.</div>

The following is part of the Journal of Commerce’s 2026 Annual Review and Outlook. The big picture: The October postponement of a vote on the International Maritime Organization’s (IMO’s) net-zero framework will make it more difficult for ocean carriers to hit already ambitious interim targets for reducing carbon emissions. Opposition from the White House — including threats of retaliation against members voting for the framework — derailed what would have been the first industry-wide emissions-cutting regulations for at least a year, and possibly longer if the US continues to lobby against it over the next 12 months. A look back: Significant divisions emerged between IMO member states over the net-zero framework, which includes midterm measures limiting carbon intensity in maritime fuel and an emissions pricing mechanism. But after intense debate at the IMO’s Marine Environmental Protection Committee (MEPC) meeting in London in April, the majority of member states voted to accept the framework. At that point, it seemed like a foregone conclusion that the IMO would officially adopt the framework during the October MEPC meeting and roll the regulations out globally in 2027. But the Trump administration had other ideas, and after an extensive campaign supported by petrostates and some of the world’s largest flag states, the IMO delayed voting on the measure until October 2026 at the earliest, putting global emissions goals for 2030 in serious doubt. In addition, the delay has injected more uncertainty into an alternative fuel market that was already struggling to attract crucial investment from both the public and private sectors. A look ahead: The MEPC will meet again this coming October, but a vote on the net-zero framework is not guaranteed. 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 and methanol as the green fuels of choice in newbuild vessel orders. Even if the lack of a global regulatory framework from the IMO results in a patchwork of regional emissions-cutting initiatives, investment in dual-fuel ships capable of running on LNG or methanol will likely prove to be money well spent. The next inflection: Narrowing the price differential between alternative fuels and traditional carbon-based fuel will be the key that unlocks adoption and accelerates the decarbonization of maritime shipping. Green fuels such as e-methanol, e-methane and green ammonia remain significantly more expensive than conventional bunkers, and the availability of biofuels is limited by supply constraints and high demand from other sectors such as aviation. The IMO adopting its net-zero framework would be a major step toward narrowing the price gap, guaranteeing demand for fuel suppliers hesitant to invest in large-scale production and, in turn, increasing availability and lowering costs for carriers. Contact Greg Knowler at greg.knowler@spglobal.com .

Transport, Trade and Regulation News

Container lines

Container Shipping News

Maritime

Regulatory uncertainty weighs heavy on green fuel investment as 2026 dawns

<div class="phx-topic abstract-wrapper">The move by the Chinese-Polish operator will help meet growing demand for wind and energy storage systems cargoes.</div>

The move by the Chinese-Polish operator will help meet growing demand for wind and energy storage systems cargoes.

<div class="phx-topic">Chinese-Polish multipurpose and heavy-lift vessel operator Chipolbrok is expanding its fleet after signing a shipbuilding deal with China’s Taizhou Sanfu Ship Engineering group for six 60,800-deadweight metric ton (dwt) MPVs. The deal also includes options for four similar vessels, Chipolbrok said in a statement Monday. The total order, including the options, will increase the carrier’s fleet by 25% to more than 40 ships. The company’s financial investment in the newbuilds was not immediately available. The carrier initially signed contracts for four vessels on Dec. 30 and followed that up with contracts signed with affiliate company Taizhou Kouan Shipbuilding on Monday for two additional ships plus the four options. The ships will “further strengthen our capabilities in project, oversized and special cargo trades,” Chipolbrok said in the statement. The first ship is due to be delivered in November 2027, with the remaining vessels scheduled to join the Chipolbrok fleet in 2028 and 2029.   <h3>Prior newbuild program almost over </h3>The vessels were ordered just as Chipolbrok completes its previous newbuilding program of eight 62,000-dwt multipurpose heavy-lift ships, also built by Taizhou Kouan Shipbuilding in China’s Jiangsu province. The seventh ship of that order, De An, was delivered in June, while construction of Kopernik, the final ship in the series, started in November. Chipolbrok said the latest ice-class vessels, designed with input from Shanghai Merchant Ship Design &amp; Research Institute, will each have three 200-ton capacity cranes that will be able to lift a maximum of 400 tons in tandem. They will also feature a forward accommodation and bridge block to maximize the rear deck space of about 70,000 square feet and improve cargo handling efficiency. The vessels will have a specially strengthened rear deck that will enable the ships to carry heavier wind energy components, as well as a 135-foot cargo hold to accommodate longer project cargoes. The ships will also have a capacity to handle 3,180 TEUs, making them suited to transporting containerized energy storage systems, battery packs and electrical charging equipment. Those goods now need to be carried as deck cargo under the latest International Maritime Dangerous Goods regulations that came into force on Jan. 1. Chipolbrok’s latest orders also show the growing importance of wind farm components, which now account for more than 50% of the carrier’s cargo volumes. The carrier said new energy equipment, including battery energy storage systems, is also growing in importance. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com</a>.</div>

Chinese-Polish multipurpose and heavy-lift vessel operator Chipolbrok is expanding its fleet after signing a shipbuilding deal with China’s Taizhou Sanfu Ship Engineering group for six 60,800-deadweight metric ton (dwt) MPVs. The deal also includes options for four similar vessels, Chipolbrok said in a statement Monday. The total order, including the options, will increase the carrier’s fleet by 25% to more than 40 ships. The company’s financial investment in the newbuilds was not immediately available. The carrier initially signed contracts for four vessels on Dec. 30 and followed that up with contracts signed with affiliate company Taizhou Kouan Shipbuilding on Monday for two additional ships plus the four options. The ships will “further strengthen our capabilities in project, oversized and special cargo trades,” Chipolbrok said in the statement. The first ship is due to be delivered in November 2027, with the remaining vessels scheduled to join the Chipolbrok fleet in 2028 and 2029.   Prior newbuild program almost over The vessels were ordered just as Chipolbrok completes its previous newbuilding program of eight 62,000-dwt multipurpose heavy-lift ships, also built by Taizhou Kouan Shipbuilding in China’s Jiangsu province. The seventh ship of that order, De An, was delivered in June, while construction of Kopernik, the final ship in the series, started in November. Chipolbrok said the latest ice-class vessels, designed with input from Shanghai Merchant Ship Design & Research Institute, will each have three 200-ton capacity cranes that will be able to lift a maximum of 400 tons in tandem. They will also feature a forward accommodation and bridge block to maximize the rear deck space of about 70,000 square feet and improve cargo handling efficiency. The vessels will have a specially strengthened rear deck that will enable the ships to carry heavier wind energy components, as well as a 135-foot cargo hold to accommodate longer project cargoes. The ships will also have a capacity to handle 3,180 TEUs, making them suited to transporting containerized energy storage systems, battery packs and electrical charging equipment. Those goods now need to be carried as deck cargo under the latest International Maritime Dangerous Goods regulations that came into force on Jan. 1. Chipolbrok’s latest orders also show the growing importance of wind farm components, which now account for more than 50% of the carrier’s cargo volumes. The carrier said new energy equipment, including battery energy storage systems, is also growing in importance. Contact Keith Wallis at keithwallis@hotmail.com .

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