Yangpu Port expands zero-tariff trade as Hainan FTP launch lifts throughput and routes

Yangpu Port in Hainan recorded its first clearance of zero-tariff petrochemical raw and auxiliary materials following the island-wide launch of special customs operations under the Hainan Free Trade Port (FTP), enabling companies to save nearly 10 million yuan ($1.42 million), according to Global Times.

The shipment involved 179,000 tons of cargo that cleared customs smoothly on the first day of the new regime.

Under the FTP policy, the share of goods eligible for zero tariffs expanded from 21 percent to 74 percent.

Port authorities reported that container throughput exceeded 3 million twenty-foot equivalent units (TEUs) as of Thursday this year, surpassing that level for the first time and nearly doubling from 1.8 million TEUs in 2024.

Yangpu Port currently operates 59 domestic and international routes, including 33 international services covering Southeast Asia, the Middle East, and Africa, with new intercontinental routes added since 2024.

Officials said infrastructure upgrades, including the commissioning of 200,000-ton deep-water berths in May, supported the increase in volumes.

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European Commission launches consultation on the 15th update of the EU-approved ship recycling facilities list

The European Commission launched its long-awaited consultation on the 15th update of the European List of ship recycling facilities. As the NGO Shipbreaking Platform, we call on the EU to remove all Turkish ship recycling facilities that use the landing method, support the non-inclusion of Indian ‘beaching’ yards, and urge the EU to support capacity development in line with the circularity and decarbonisation objectives.

We welcome the decision to remove the Dörtel ship recycling yard in Aliağa, Turkey. An inspection carried out by the Commission revealed that a ship was being dismantled while still being partially in the water, and the facility was not equipped with an impermeable floor and a slag collector. This could with a high probability lead to contamination of seawater – the main requirements for proper hazardous waste collection and treatment were not met. Therefore, the removal of this facility from the list was indispensable. Although the decision to remove the the Dörtel ship recycling yard in Aliağa, Turkey is a step in the right direction, we find it insufficient.

“Approving yards in third countries that would never be allowed to operate in the EU creates a double standard that undermines not only recyclers that have already invested in truly sustainable methods, but also efforts to improve and scale practices to an acceptable level globally”, says Ingvild Jenssen, Director of the NGO Shipbreaking Platform.

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ICTSI Manila flagship terminal achieves 3M TEUs

The Manila International Container Terminal (MICT), the flagship facility of International Container Terminal Services Inc. (ICTSI) and the Philippines’ leading international trade gateway, handled a record three million twenty-foot equivalent units (TEUs) in 2025—the first time the terminal has reached that level in a single year.

The record container was handled on December 22, when the terminal serviced the container vessel Ever Bliss, operated by Evergreen Marine Corp., carrying cargo for Universal Robina Corp.

Christian Lozano, MICT chief executive officer, said the result reflected the terminal’s capacity to handle higher volumes while maintaining service levels during the peak season. “Handling three million TEUs shows how the MICT has kept pace with rising demand through continued operational improvements and capacity expansion,” he said.

The increase in volume coincided with sustained investments in equipment and infrastructure during the year. These included the deployment of hybrid rubber-tired gantry cranes, the addition of terminal tractors to support higher throughput, and the terminal’s initial exploration of electric terminal tractors under its modernization program.

Construction is progressing on the terminal’s eighth berth, which includes a 300-meter quay and a combined quay and yard development covering 12 hectares. Of this total area, 6.5 hectares are already operational. Designed with a 15-meter depth, Berth 8 will be able to accommodate container vessels with 18,000 TEU capacities, with delivery of three quay cranes scheduled for 2027.

Once the berth expansion is completed, the MICT’s annual handling capacity is expected to rise to 3.5 million TEUs.

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Ocean Yield AS: Investment in LNG carriers on long-term charters

Ocean Yield AS is pleased to announce that it has agreed to co-invest alongside Nippon Yusen Kabushiki Kaisha (“NYK Line”) in four newbuilding LNG carriers, to be constructed in Korea for deliveries in 2028 and 2029. Both parties will have an ownership interest of around 50% in the vessels.

Upon delivery, each vessel will commence long-term time charters to an investment grade-rated major energy company. The transaction is estimated to add around USD 600 million to Ocean Yield’s EBITDA backlog. The charterer may exercise extension options to extend the charter duration. The charterer is also granted options that may increase the size of the investment to eight vessels.

Chief Executive Officer Andreas Røde said in a comment: «We are pleased to expand the partnership with NYK Line through this landmark transaction. Ocean Yield has over the last few years strategically entered the LNG segment, a sector that fits our investment mandate well with its infrastructure-like characteristics and long-term charters to strong counterparties.

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Somtrans christens LNG bunker barge as alternative fuel demand grows

Bunker barge United LNG I has been officially christened in the port of Antwerp. It marks an important moment for shipping company Somtrans, main shipbuilding contractor RensenDriessen and outfitting partners TeamCo Shipyard and Gas & Heat. The vessel will enter service in early 2026, reinforcing the growing role of LNG bunkering in the Belgian and Dutch seaports.

The vessel is an estuary-class LNG bunker barge designed for both inland waterways and coastal service up to Zeebrugge. Measuring 135 by 21.46 metres, the barge carries eight cylindrical Type C cargo tanks of 1,000 cubic metres each, engineered to store LNG at –165 degrees Celsius. These cylindrical cryogenic tanks are central to the design and represent a significant technical step.

The hull was built in China and transported to the Netherlands. LNG tanks supplied by Gas & Heat in Italy were then installed in Rotterdam, before the vessel moved to TeamCo Shipyard for final outfitting. Shipbuilder RensenDriessen acted as the main contractor, coordinating every phase from hull construction to delivery, with TeamCo overseeing tank integration, engineering and yard execution.

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Fisherfolk urge govt to scrap notification on wetland privatisation

KOLKATA: A recent notification issued by the Department of Land & Land Reforms permitting private individuals, entrepreneurs and other government institutions to take part in competitive bidding for government-owned waterbodies has triggered a sharp debate over modernisation versus the protection of traditional livelihoods and ecological balance.

Fishermen’s cooperative societies and environmental groups have strongly opposed the move, warning that it could jeopardise the livelihoods of more than 17 lakh registered members belonging to over 800 cooperatives across the state. Four fishermen’s cooperative societies have already written to the government, demanding the immediate withdrawal of the notification.

The changes stem from amendments to the West Bengal Land and Land Reforms Manual, 1991, notified on September 18. Under the revised provisions, government-owned waterbodies will now be allotted through a tender or auction process. While the notification says fishermen’s cooperative societies, fish production groups and self-help groups will be given price preferences and concessions on the earnest money deposit, traditional fisherfolk fear these safeguards may not be enough.

They argue that the new system could favour financially stronger bidders who may lack experience in sustainable fish production, potentially pushing out communities that have depended on these waterbodies for generations. Environmentalists, too, have raised concerns, warning that opening wetlands to private players could lead to encroachment and poor waterbody management.

In their representations to the government, fishermen’s cooperatives have stressed that they are the natural custodians of inland waterbodies and have long followed sustainable fishing practices. They contend that the notification undermines their role and threatens both livelihoods and ecological stability.

The cooperatives have also pointed out that the move runs counter to existing laws and policies aimed at protecting backward classes and safeguarding fundamental rights guaranteed under the Constitution. They have urged the department to revoke the notification, citing its potentially damaging impact on traditional fishing communities and the environment alike.

Key amendments and concerns at a glance

1. Government-owned waterbodies to be settled through tender or auction.
2. Eligible participants include fishermen’s cooperative societies, fish production groups, self-help groups, individuals, entrepreneurs and fisheries department undertakings.
3. Fishermen’s cooperatives, fish production groups and self-help groups to receive price preferences and concessions on earnest money deposits.
4. Traditional fisherfolk fear displacement by financially stronger bidders with limited expertise in sustainable fisheries.
5. Environmentalists warn of possible wetland encroachment and long-term damage to waterbody management.
   
   

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VLGC market in 2025: A rollercoaster ride with more dips than peaks

 The VLGC market in 2025 remained highly volatile, with occasional rate spikes overshadowed by weak fundamentals. Vessel oversupply and fragile demand, along with factors such as US loading disruptions, fluctuating arbitrage, and tariff uncertainties, weakened TC rates by 22% YoY in 2025. Rates revived in 3Q25 on the back of robust supply and strong Asian demand, yet volatility persisted amid trade policy risks, weak petchem margins, and USTR-driven vessel repositioning, reinforcing the overall downward trend.

Muted start to 2025: Weather-driven trade disruptions and onset of trade uncertainties

Disruptions to US loadings: The first quarter showcased high volatility for VLGCs as the market endured a series of disruptions and uncertainties. In January 2025, adverse weather conditions (a cold snap followed by fog), pilotage delays and terminal congestion significantly impacted US vessel loadings and the LPG market.

Several terminals reported delayed loadings and restricted berthing availability. Over a dozen VLGC loadings were postponed, and some vessels faced delays of up to 5–7 days. The delays led to a spike in the Baltic Houston-Chiba LPG Index by 15-20%, constraining spot chartering activity. Meanwhile, a surge in US LPG prices due to higher domestic demand shut the US–Asia arbitrage, compelling Asian buyers to shift to the Middle East for prompt cargos.

However, the commissioning of new export capacity in mid-2025, notably Energy Transfer’s Nederland terminal, combined with a milder hurricane season, a key factor typically disrupting US LPG flows between July and October, helped sustain US LPG export flows through 2H25, maintaining 6% YoY growth in 2025.

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Baltic Index Extends Losses On Weaker Rates Across All Segments

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for vessels transporting dry bulk commodities, extended losses on Monday, weighed down by weaker rates across all vessel segments.

The main index, which factors in rates for capesize, panamax and supramax shipping vessels, fell for its third straight session, losing 33 points, or 1.2%, to 2,694 points.

The capesize index lost 70 points, or about 1.4%, to 5,013 points.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $580 to $41,571.

Iron ore futures slipped on Monday, as sagging demand in top consumer China, along with increasing equipment maintenance and the lack of new stimulus measures from the country’s top decision-making body, weighed on sentiment.

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Thordon Bearings Wins 2025 Motorship Award For T-Boss Sterntubeless Ship Design

Thordon Bearings has won the 2025 Motorship Award for T-BOSS, the ship design which replaces a traditional sterntube with a space that allows inspection and maintenance of a seawater-lubricated bearing and seal arrangement from inside the ship.

The award, presented at the Motorship Propulsion & Future Fuels Conference in Hamburg, Germany, on the 25th of November, recognizes innovative partnerships that result in low-emissions maritime solutions. T-BOSS – the Thordon – Blue Ocean Stern Space – was developed by a consortium of maritime partners consisting of ABS, Thordon Bearings, Wärtsilä Shaft Line Solutions, CSSC-SDARI (Shanghai Merchant Ship Design & Research Institute), and the National Technical University of Athens.

The innovative solution replaces the conventional sterntube and cooling tank with a dry chamber housing a single seawater-lubricated, non-metallic Thordon COMPAC bearing. In addition to minimizing shipbuilding costs with the removal of the sterntube and oil sealing system, the design significantly reduces operating expenditure.

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Oslo port incentivising green ships

As global emissions standards tighten, ports and maritime authorities are rolling out new schemes to reward vessels that operate more efficiently and sustainably.

Oslo Port – Rewarding Emission Reductions

Starting in 2026, the Port of Oslo will introduce financial incentives for cleaner shipping. Vessels which operate emission-free in and out of the Steilene area will receive a 100% discount on quay fees, while cargo vessels that connect to established shore power facilities will qualify for a 20% discount. At the same time, the former 20% discount for scheduled-route traffic will be discontinued, shifting the scheme toward rewarding genuine emissions reductions.

Environmental discounts are calculated using two established methods:

Environmental Port Index (EPI) – specifically for cruise ships. The EPI measures a vessel’s environmental performance while in port, fuel consumption and use of shore power. It is managed by EPI AS (developed with DNV and Norwegian ports). Cruise ship owners should register their vessels and report technical data to the EPI portal, which in turn will allow the Port of Oslo to issue discounts based on the ship’s EPI score.

Environmental Ship Index (ESI) – used for all ship types. Administered by the International Association of Ports and Harbors (IAPH), ESI evaluates ships’ overall emissions performance and increasingly considers at-berth emissions. Ship-owners voluntarily register their vessels and provide verified emissions data, and higher ESI scores make ships eligible for larger environmental discounts at Oslo.

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