<div class="phx-topic abstract-wrapper">Cash petroleum prices fell sharply this week, mainly influenced by milder weather in the Northeaster</div>

Cash petroleum prices fell sharply this week, mainly influenced by milder weather in the Northeaster

<div>Cash petroleum prices fell sharply this week, mainly influenced by milder weather in the Northeastern U.S. and Europe, cash traders said.The prompt market followed the sharp declines in the futures markets that gave up 1.5 cents a gallon in spot hearing oil, and nearly $1 a barrel in spot crude oil prices over the past week.Traders added that activity was slow because of the lack of demand as the U.S. and European cold weather subsided, as well as the normal slow activity at the beginning of the month.The run up in prices from the mid-January freezes was probably overdone, one...

Cash petroleum prices fell sharply this week, mainly influenced by milder weather in the Northeastern U.S. and Europe, cash traders said. The prompt market followed the sharp declines in the futures markets that gave up 1.5 cents a gallon in spot hearing oil, and nearly $1 a barrel in spot crude oil prices over the past week.Traders added that activity was slow because of the lack of demand as the U.S. and European cold weather subsided, as well as the normal slow activity at the beginning of the month. The run up in prices from the mid-January freezes was probably overdone, one trader said, which also prompted prices to fall off. In addition, this lack of demand underscored the continued overhanging crude and product stocks that have the potential to eliminate any gains from official pricing policies from the Organization of Petroleum Exporting Countries, another trader said. Early expectations of oil inventories for the week ended January 30, which were to be released by the American Petroleum Institute late Tuesday, were for a 1 million barrel drawdown in crude oil stocks, near unchanged gasoline stocks, and a 2 million to 3 million barrel drawdown in distillate inventories. In the previous API report, distillate stocks fell by 3.6 million barrels from the previous week, crude stocks were off 1 million barrels, and gasoline stocks rose by 830,000. However, stocks were higher than the previous year's levels with distillate stocks up 3.03 million barrels, crude up 2.18 million, and gasoline up 16.25 million. New York Harbor prices for heating oil ranged from 50.25 to 50.75 cents, unleaded gasoline prices ranged from 49.75 to 50 cents, and leaded regular gasoline prices ranged from 49.50 to 50 cents. In the Gulf of Mexico, heating oil prices ranged from 48 to 48.50 cents, unleaded gasoline from 49.75 to 50 cents, and leaded regular gasoline from 50 to 50.25 cents.

MILD WEATHER SINKS CASH PRICES

<div class="phx-topic abstract-wrapper">With only low-capacity increases forecast for the MPV fleet, operators believe they will be able to handle the predicted increases in project cargo.  </div>

With only low-capacity increases forecast for the MPV fleet, operators believe they will be able to handle the predicted increases in project cargo. 

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<div class="phx-topic">Crashing container shipping rates and increasing vessel oversupply have pushed liner operators to increase their exposure to breakbulk opportunities — and with abundant spare capacity they will be competitive, according to sector specialists. Justin Archard, managing partner at One World Shipbrokers, told the Journal of Commerce the year-plus fall in global container rates and newbuild delivery glut come as an increasing number of large and ultra-large multipurpose vessels (MPVs) have been committed to long distance and primary port pairs on liner/semi-liner schedules.  That combination will lead smaller MPVs and project carriers to reduce their exposure to direct volume-based competition by focusing on how they can exploit their core strengths of small port capability and flexible service schedules. “Whilst container operators are sometimes breakbulk predators, they are less willing to handle large unit numbers of loose breakbulk,” Archard said. “This has always and will always be one of MPVs great strengths.” The Market Sentiment Index (MSI) for the MPV and breakbulk industry, developed by Archard, sank to its lowest in 15 months in the August edition. However, at 53.0, the index is still above the 50.0 barrier, denoting optimism rather than pessimism or wariness. The MSI averages the responses from an anonymous group of 20 to 30 MPV owners and operators to a set of breakbulk shipping-related questions. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="1f91d0fb-eb2a-4150-aa07-3afb03099e22"></dynamic-object></div>Those surveyed spoke of increasing, but so far manageable, pressure in the general breakbulk market. “We still maintain a cautious optimistic stance on the long term, driven by the fact that newbuilding orders do not pose yet a big threat on the supply front and demand for renewable energy combined with oil &amp; gas capex planning and infrastructure projects will remain on high levels,” one source said.  Another source commented that the MPV charter market remains “completely illiquid” with any tonnage being brought to the market directed toward long-term charters. <h3>Toepfer index reflects ‘stability’ </h3>Slight downward movement in Toepfer Transport’s Toepfer Multipurpose Index (TMI) illustrates the building pressure. The August reading of $12,818 is down 0.67% from July; consequently, the TMI “maintains its stability,” Toepfer said in its report. The broker also noted a parallel decline in transactions in the secondhand MPV market, “which could potentially impact market pricing.” The TMI is based on expected average rates for six- to 12-month time charters for 12,500-deadweight-ton “F-Type” vessels with safe working loads (SWLs) of 240 to 360 metric tons, as reported to Toepfer by owners and operators. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="ea382181-08cd-4298-912f-87c79836bcf7"></dynamic-object></div>Archard said that with only low-capacity increases forecast for the MPV fleet, operators believe they will be able to handle the predicted increases in project cargo. Also, consolidation of carriers over the past decade has meant the investment decisions about new tonnage are in fewer hands than ever before.  “It is in owners’ interests to engineer and maintain a slight supply deficit wherever possible,” Archard said. “Enzo Ferrari famously once said — ‘I will always deliver one less Ferrari than the market demands,’ and this reticence to increase fleet numbers is starting to show up in the Market Sentiment Index fleet supply readings.”  He noted both short- and longer-term market indicators signal a tightening, which carriers will see as healthy for their business and a vindication of their policies.  “However, as freight rates rise in this tightening scenario, some shippers may be driven to seek alternative ocean transport options,” Archard said. “The balance is fragile and the pendulum is always swinging.” Contact Carly Fields at <a href="mailto:carly.fields@spglobal.com">carly.fields@spglobal.com</a>. </div>

Crashing container shipping rates and increasing vessel oversupply have pushed liner operators to increase their exposure to breakbulk opportunities — and with abundant spare capacity they will be competitive, according to sector specialists. Justin Archard, managing partner at One World Shipbrokers, told the Journal of Commerce the year-plus fall in global container rates and newbuild delivery glut come as an increasing number of large and ultra-large multipurpose vessels (MPVs) have been committed to long distance and primary port pairs on liner/semi-liner schedules.  That combination will lead smaller MPVs and project carriers to reduce their exposure to direct volume-based competition by focusing on how they can exploit their core strengths of small port capability and flexible service schedules. “Whilst container operators are sometimes breakbulk predators, they are less willing to handle large unit numbers of loose breakbulk,” Archard said. “This has always and will always be one of MPVs great strengths.” The Market Sentiment Index (MSI) for the MPV and breakbulk industry, developed by Archard, sank to its lowest in 15 months in the August edition. However, at 53.0, the index is still above the 50.0 barrier, denoting optimism rather than pessimism or wariness. The MSI averages the responses from an anonymous group of 20 to 30 MPV owners and operators to a set of breakbulk shipping-related questions. Those surveyed spoke of increasing, but so far manageable, pressure in the general breakbulk market. “We still maintain a cautious optimistic stance on the long term, driven by the fact that newbuilding orders do not pose yet a big threat on the supply front and demand for renewable energy combined with oil & gas capex planning and infrastructure projects will remain on high levels,” one source said.  Another source commented that the MPV charter market remains “completely illiquid” with any tonnage being brought to the market directed toward long-term charters. Toepfer index reflects ‘stability’ Slight downward movement in Toepfer Transport’s Toepfer Multipurpose Index (TMI) illustrates the building pressure. The August reading of $12,818 is down 0.67% from July; consequently, the TMI “maintains its stability,” Toepfer said in its report. The broker also noted a parallel decline in transactions in the secondhand MPV market, “which could potentially impact market pricing.” The TMI is based on expected average rates for six- to 12-month time charters for 12,500-deadweight-ton “F-Type” vessels with safe working loads (SWLs) of 240 to 360 metric tons, as reported to Toepfer by owners and operators. Archard said that with only low-capacity increases forecast for the MPV fleet, operators believe they will be able to handle the predicted increases in project cargo. Also, consolidation of carriers over the past decade has meant the investment decisions about new tonnage are in fewer hands than ever before.  “It is in owners’ interests to engineer and maintain a slight supply deficit wherever possible,” Archard said. “Enzo Ferrari famously once said — ‘I will always deliver one less Ferrari than the market demands,’ and this reticence to increase fleet numbers is starting to show up in the Market Sentiment Index fleet supply readings.”  He noted both short- and longer-term market indicators signal a tightening, which carriers will see as healthy for their business and a vindication of their policies.  “However, as freight rates rise in this tightening scenario, some shippers may be driven to seek alternative ocean transport options,” Archard said. “The balance is fragile and the pendulum is always swinging.” Contact Carly Fields at carly.fields@spglobal.com .

Maritime

Breakbulk News

Project cargo

Breakbulk carriers

Tight MPV supply countered by container rate crash, ship glut

<div class="phx-topic abstract-wrapper">When the proposed agreement is adopted in October, as expected, all international shipping will be bound by the decarbonization regulation, an official at the shipping association pointed out. </div>

When the proposed agreement is adopted in October, as expected, all international shipping will be bound by the decarbonization regulation, an official at the shipping association pointed out.

<div class="phx-topic">The US’ formal rejection of the International Maritime Organization’s (IMO’s) net-zero framework agreement will have little impact on the emissions regulation that, once adopted, will still require compliance from all ships trading internationally, according to shipping association Bimco. The net-zero proposal will be promulgated at the next meeting of the IMO’s Marine Environment Protection Committee (MEPC) in October, where it is expected to pass with the required two-thirds majority. “Even when, or if, the US places reservations that the rule will not apply to them, it will, because all ships of non-US-flag trading internationally are bound by their flag [and] US-flag ships will also be required to comply if they trade internationally,” Lars Robert Pedersen, deputy secretary-general and director of regulatory affairs at Bimco, told the Journal of Commerce Wednesday. Only about 80 merchant ships currently trade internationally under the US flag, according to maritime insurers UK P&amp;I Club. Vowing “to protect the American people and their economic interests,” the White House on Tuesday called on IMO members to reject the agreement and threatened to retaliate against those supporting the proposal. “Our fellow IMO members should be on notice that we will look for their support against this action and not hesitate to retaliate or explore remedies for our citizens should this endeavor fail,” Secretary of State Marco Rubio, Secretary of Commerce Howard Lutnick, Secretary of Energy Chris Wright and Secretary of Transportation Sean Duffy said in a joint statement. <h3>‘A global carbon tax on Americans’ </h3>“Whatever its stated goals, the proposed framework is effectively a global carbon tax on Americans levied by an unaccountable UN organization,” the US statement said, adding that the US would not accept any environmental regulation that “unduly or unfairly burdens the United States or harms the interests of the American people.” Despite the formal rejection by the White House and its ongoing criticism of the UN and its many agencies, the statement drew a diplomatic response from the IMO. “The IMO net-zero framework was approved in April 2025 and represents a collective commitment by member states to deliver on shared goals outlined in the Revised IMO Strategy on the Reduction of GHG emissions that was adopted in 2023,” an IMO spokesperson told the Journal of Commerce. “The upcoming MEPC session in October provides the appropriate platform to address any concerns from member states ahead of the adoption process,” the IMO added. Considering <a href="https://www.joc.com/article/us-pulls-out-of-imo-climate-talks-threatens-retaliation-for-emissions-fees-5980359">the US decision to walk out of the MEPC’s 83rd meeting</a> in April in protest over the decarbonization talks, and with the now-formal rejection of the net-zero framework, it appears unlikely the US will attend the MEPC October meeting to “address any concerns.” The World Shipping Council (WSC), a trade body representing the container shipping and roll-on/roll-off industry, declined to comment, saying the matter has become a political one rather than being about policy. <h3>Shipping faces progressively increasing charges </h3>No universal carbon levy was agreed to at the contentious MEPC meeting in April, but if the framework is adopted in October, shipping’s global carbon emissions will carry progressively increasing charges for the first time. A <a href="https://www.joc.com/article/imo-deal-on-fuel-intensity-pricing-hailed-as-major-step-forward-5986720">key standard in the new regulation</a> will be the fuel intensity used by global shipping, measured on a well-to-wake basis that covers the full lifecycle of the fuel. Starting in 2027, ships must lower their fuel intensity by a certain percentage compared with the baseline set in 2008. But Rico Luman, senior economist for transport and logistics at global bank ING, believes the lack of US participation in the net-zero framework could hamper the adoption of the IMO regulation. “The system, when enforced in 2027, will apply globally and also applies to journeys to and from the US ... if the US doesn’t accept the effectuation, this will complicate the whole system,” Luman said in a statement, adding that the US threat to retaliate could make other IMO members hesitate in their support of the proposal. Luman said there may be a “more climate-friendly” US administration in place in the years after the first reporting of the IMO measure is required in 2028, but any delay will hamper reaching the IMO’s already ambitious shipping decarbonization targets in 2040 and 2050. “There’s not much time left as implementation usually takes years of preparation — also to enable companies to prepare themselves — and CO2 emissions have failed to get on a downward track over the last few years,” Luman said. Contact Greg Knowler at <a href="mailto:greg.knowler@spglobal.com">greg.knowler@spglobal.com</a>. </div>

The US’ formal rejection of the International Maritime Organization’s (IMO’s) net-zero framework agreement will have little impact on the emissions regulation that, once adopted, will still require compliance from all ships trading internationally, according to shipping association Bimco. The net-zero proposal will be promulgated at the next meeting of the IMO’s Marine Environment Protection Committee (MEPC) in October, where it is expected to pass with the required two-thirds majority. “Even when, or if, the US places reservations that the rule will not apply to them, it will, because all ships of non-US-flag trading internationally are bound by their flag [and] US-flag ships will also be required to comply if they trade internationally,” Lars Robert Pedersen, deputy secretary-general and director of regulatory affairs at Bimco, told the Journal of Commerce Wednesday. Only about 80 merchant ships currently trade internationally under the US flag, according to maritime insurers UK P&I Club. Vowing “to protect the American people and their economic interests,” the White House on Tuesday called on IMO members to reject the agreement and threatened to retaliate against those supporting the proposal. “Our fellow IMO members should be on notice that we will look for their support against this action and not hesitate to retaliate or explore remedies for our citizens should this endeavor fail,” Secretary of State Marco Rubio, Secretary of Commerce Howard Lutnick, Secretary of Energy Chris Wright and Secretary of Transportation Sean Duffy said in a joint statement. ‘A global carbon tax on Americans’ “Whatever its stated goals, the proposed framework is effectively a global carbon tax on Americans levied by an unaccountable UN organization,” the US statement said, adding that the US would not accept any environmental regulation that “unduly or unfairly burdens the United States or harms the interests of the American people.” Despite the formal rejection by the White House and its ongoing criticism of the UN and its many agencies, the statement drew a diplomatic response from the IMO. “The IMO net-zero framework was approved in April 2025 and represents a collective commitment by member states to deliver on shared goals outlined in the Revised IMO Strategy on the Reduction of GHG emissions that was adopted in 2023,” an IMO spokesperson told the Journal of Commerce. “The upcoming MEPC session in October provides the appropriate platform to address any concerns from member states ahead of the adoption process,” the IMO added. Considering the US decision to walk out of the MEPC’s 83rd meeting in April in protest over the decarbonization talks, and with the now-formal rejection of the net-zero framework, it appears unlikely the US will attend the MEPC October meeting to “address any concerns.” The World Shipping Council (WSC), a trade body representing the container shipping and roll-on/roll-off industry, declined to comment, saying the matter has become a political one rather than being about policy. Shipping faces progressively increasing charges No universal carbon levy was agreed to at the contentious MEPC meeting in April, but if the framework is adopted in October, shipping’s global carbon emissions will carry progressively increasing charges for the first time. A key standard in the new regulation will be the fuel intensity used by global shipping, measured on a well-to-wake basis that covers the full lifecycle of the fuel. Starting in 2027, ships must lower their fuel intensity by a certain percentage compared with the baseline set in 2008. But Rico Luman, senior economist for transport and logistics at global bank ING, believes the lack of US participation in the net-zero framework could hamper the adoption of the IMO regulation. “The system, when enforced in 2027, will apply globally and also applies to journeys to and from the US ... if the US doesn’t accept the effectuation, this will complicate the whole system,” Luman said in a statement, adding that the US threat to retaliate could make other IMO members hesitate in their support of the proposal. Luman said there may be a “more climate-friendly” US administration in place in the years after the first reporting of the IMO measure is required in 2028, but any delay will hamper reaching the IMO’s already ambitious shipping decarbonization targets in 2040 and 2050. “There’s not much time left as implementation usually takes years of preparation — also to enable companies to prepare themselves — and CO2 emissions have failed to get on a downward track over the last few years,” Luman said. Contact Greg Knowler at greg.knowler@spglobal.com .

Transport, Trade and Regulation News

US rejection of IMO ‘net-zero’ framework won’t change outcome: Bimco

<div class="phx-topic abstract-wrapper">The funds will mostly be spent on further development of its platform for shippers, including investment in AI.</div>

The funds will mostly be spent on further development of its platform for shippers, including investment in AI.

<div class="phx-topic">A persistent low-rate truckload environment hasn’t hampered the growth of shipper-focused procurement and orchestration software provider GoodShip, which has landed a $25 million funding round on the back of significantly growing revenue in 2024. The funding round will mostly be spent on further development of its platform for shippers, including investment in AI, GoodShip said in a statement Tuesday. The company has raised $40 million to date. GoodShip was founded in 2022 to help shippers benchmark their truckload contract rates and has evolved to help users build bids and do scenario planning to apportion volume to various carriers and brokers. Its revenue growth comes as the truckload market is contending with a prolonged period of overcapacity and dampened demand, partly due to economic uncertainty in 2025. But GoodShip CEO Ryan Soskin told the Journal of Commerce the platform is meant to be used in all supply-demand environments. “Even in a soft market, we’re finding that there are very meaningful savings and service opportunities,” Soskin said. “It’s just that they have been historically hard to find, buried in the aggregate of massive amounts of data for large shippers.” As an example, he said nearly every GoodShip customer identifies situations where they have over-tendered freight to high-cost carriers. “If the lane overall is moving close to market average, the shipper usually doesn’t know to dig in to individual lane-carrier combinations within the lane that may be uncompetitive,” Soskin said. “We pinpoint these opportunities for them, and typically making a few minor tweaks results in massive savings.” GoodShip’s customers include Kellanova, Tropicana, Central Garden &amp; Pet, KeHe Distributors, and KBX Logistics. Soskin said the company is seeing traction in food and beverage, consumer packaged goods, paper/packaging, and industrials. Contact Eric Johnson at <a href="mailto:eric.johnson@spglobal.com">eric.johnson@spglobal.com</a>. </div>

A persistent low-rate truckload environment hasn’t hampered the growth of shipper-focused procurement and orchestration software provider GoodShip, which has landed a $25 million funding round on the back of significantly growing revenue in 2024. The funding round will mostly be spent on further development of its platform for shippers, including investment in AI, GoodShip said in a statement Tuesday. The company has raised $40 million to date. GoodShip was founded in 2022 to help shippers benchmark their truckload contract rates and has evolved to help users build bids and do scenario planning to apportion volume to various carriers and brokers. Its revenue growth comes as the truckload market is contending with a prolonged period of overcapacity and dampened demand, partly due to economic uncertainty in 2025. But GoodShip CEO Ryan Soskin told the Journal of Commerce the platform is meant to be used in all supply-demand environments. “Even in a soft market, we’re finding that there are very meaningful savings and service opportunities,” Soskin said. “It’s just that they have been historically hard to find, buried in the aggregate of massive amounts of data for large shippers.” As an example, he said nearly every GoodShip customer identifies situations where they have over-tendered freight to high-cost carriers. “If the lane overall is moving close to market average, the shipper usually doesn’t know to dig in to individual lane-carrier combinations within the lane that may be uncompetitive,” Soskin said. “We pinpoint these opportunities for them, and typically making a few minor tweaks results in massive savings.” GoodShip’s customers include Kellanova, Tropicana, Central Garden & Pet, KeHe Distributors, and KBX Logistics. Soskin said the company is seeing traction in food and beverage, consumer packaged goods, paper/packaging, and industrials. Contact Eric Johnson at eric.johnson@spglobal.com .

Surface

Truckload

Logistics Technology News

Truckload procurement tool GoodShip lands $25 million funding round

<div class="phx-topic abstract-wrapper">Ports in Europe and Asia, especially Rotterdam, Antwerp, Singapore and Shanghai, have been grappling with congestion-related issues such as berthing and cargo delays for several months.</div>

Ports in Europe and Asia, especially Rotterdam, Antwerp, Singapore and Shanghai, have been grappling with congestion-related issues such as berthing and cargo delays for several months.

<div class="phx-topic">Container shipping is heading for increased volatility due to ongoing tariff uncertainty, South Korean carrier HMM said Wednesday. “The expiry of tariff grace periods and ongoing renegotiations are expected to increase market volatility, with regional demand shifts likely to sustain supply chain congestion,” the carrier said in a first-half earnings commentary. HMM noted the Shanghai Containerized Freight Index (SCFI) averaged 1,701 points in the first half of 2025, down 27% from a year earlier, reflecting, it said, “weaker freight rates amid continued US protectionist tariff measures and trade tensions.” “HMM will address these conditions through flexible fleet deployment ... and cost reductions via vessel efficiency improvements,” the carrier said. Those measures involve the deployment of more fuel-efficient vessels, including seven 9,000-TEU methanol-powered container ships due for delivery through the first half of next year. HMM has already taken delivery of the first two ships in the series. HMM said the seven car carriers it ordered in 2023 will be delivered beginning next month, while four multipurpose vessels will also be deployed as part of continuing efforts to diversify its fleet portfolio. HMM gave no further details about demand shifts or congestion, but ports in Europe and Asia, especially Rotterdam, Antwerp, Singapore and Shanghai, have been grappling with congestion-related issues such as berthing and cargo delays for several months. These have been partly caused by shippers reacting to the nature of the Trump administration’s erratic implementation of tariff policies. HMM’s interim first-half results mirrored those of its peers, <a href="https://www.joc.com/article/yang-ming-wan-hai-profits-drop-on-weaker-volumes-6061944">including Taiwan’s Yang Ming Marine Transport</a>, with falling cargo volumes and freight rates weighing on profitability and revenue in the second quarter. HMM’s net profit fell 12% to $342 million in the second quarter compared with the first quarter and was down 29% year over year. Second-quarter revenue also fell quarter over quarter and year over year. But HMM’s strong first quarter buoyed its first-half net profit, which increased 5.7% to $879 million year over year. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com</a>. </div>

Container shipping is heading for increased volatility due to ongoing tariff uncertainty, South Korean carrier HMM said Wednesday. “The expiry of tariff grace periods and ongoing renegotiations are expected to increase market volatility, with regional demand shifts likely to sustain supply chain congestion,” the carrier said in a first-half earnings commentary. HMM noted the Shanghai Containerized Freight Index (SCFI) averaged 1,701 points in the first half of 2025, down 27% from a year earlier, reflecting, it said, “weaker freight rates amid continued US protectionist tariff measures and trade tensions.” “HMM will address these conditions through flexible fleet deployment ... and cost reductions via vessel efficiency improvements,” the carrier said. Those measures involve the deployment of more fuel-efficient vessels, including seven 9,000-TEU methanol-powered container ships due for delivery through the first half of next year. HMM has already taken delivery of the first two ships in the series. HMM said the seven car carriers it ordered in 2023 will be delivered beginning next month, while four multipurpose vessels will also be deployed as part of continuing efforts to diversify its fleet portfolio. HMM gave no further details about demand shifts or congestion, but ports in Europe and Asia, especially Rotterdam, Antwerp, Singapore and Shanghai, have been grappling with congestion-related issues such as berthing and cargo delays for several months. These have been partly caused by shippers reacting to the nature of the Trump administration’s erratic implementation of tariff policies. HMM’s interim first-half results mirrored those of its peers, including Taiwan’s Yang Ming Marine Transport , with falling cargo volumes and freight rates weighing on profitability and revenue in the second quarter. HMM’s net profit fell 12% to $342 million in the second quarter compared with the first quarter and was down 29% year over year. Second-quarter revenue also fell quarter over quarter and year over year. But HMM’s strong first quarter buoyed its first-half net profit, which increased 5.7% to $879 million year over year. Contact Keith Wallis at keithwallis@hotmail.com .

Container Shipping News

Container lines

Tariff turmoil to increase market volatility, supply chain disruption: HMM

<div class="phx-topic abstract-wrapper">The nearly two-year project to complete Bayport’s Wharf 7 will allow the terminal to handle more ships as work on widening the Houston Ship Channel continues. </div>

The nearly two-year project to complete Bayport’s Wharf 7 will allow the terminal to handle more ships as work on widening the Houston Ship Channel continues.

<div class="phx-topic">The Port of Houston will open a new berth in December at one of its two container terminals, bringing it a step further to be able to handle up to five post-Panamax vessels simultaneously. Port Houston Authority said in a statement to the Journal of Commerce Tuesday that it expects to complete <a href="https://www.joc.com/article/gulf-coast-ports-eyeing-expansion-amid-modest-growth-forecast-5222528">Wharf 7 at the Bayport Terminal this December</a>, nearly two years after construction began. Cranes for the new wharf are expected to arrive in March 2026, with the port planning to use Bayport’s existing crane fleet in the interim. The 1,000-foot wharf will allow Bayport to service five post-Panamax ships at once, up from four currently. Port Houston said the new wharf will “decrease the anchor wait time for vessels, allowing for quicker turnaround time for our customers.” As that project wraps up, Port Houston will also begin work on another Bayport berth, Wharf 1. The agency will put design and construction of Wharf 1 out to bid this September and plans to award a primary contractor by January. The eventual completion of Wharf 1 will mark the culmination of Port Houston’s near-term plans for Bayport, which has seen $750 million of investments since 2023. Bayport has two additional berthing areas, Wharves 8 and 9, which could be developed in the next decade, depending on the port’s growth forecasts. Last October, Bayport handled the largest container ship to ever call the Port of Houston, the 11,356-TEU CMA CGM Cassiopeia. Between 2019 and 2024, the port’s container volume has grown an average of 4.3% per year. The work at Bayport coincides with <a href="https://www.joc.com/article/port-houston-secures-131-million-in-federal-funds-for-ship-channel-work-6013360">ongoing work to expand the Houston Ship Channel</a> to allow two-way traffic for post-Panamax vessels. Port Houston expects to complete widening of a five-mile portion of the Houston Ship Channel between the Bayport and Barbours Cut container terminals by the third quarter of 2025, with the full project done by 2029. Contact Michael Angell at <a href="mailto:michael.angell@spglobal.com">michael.angell@spglobal.com</a>. </div>

The Port of Houston will open a new berth in December at one of its two container terminals, bringing it a step further to be able to handle up to five post-Panamax vessels simultaneously. Port Houston Authority said in a statement to the Journal of Commerce Tuesday that it expects to complete Wharf 7 at the Bayport Terminal this December , nearly two years after construction began. Cranes for the new wharf are expected to arrive in March 2026, with the port planning to use Bayport’s existing crane fleet in the interim. The 1,000-foot wharf will allow Bayport to service five post-Panamax ships at once, up from four currently. Port Houston said the new wharf will “decrease the anchor wait time for vessels, allowing for quicker turnaround time for our customers.” As that project wraps up, Port Houston will also begin work on another Bayport berth, Wharf 1. The agency will put design and construction of Wharf 1 out to bid this September and plans to award a primary contractor by January. The eventual completion of Wharf 1 will mark the culmination of Port Houston’s near-term plans for Bayport, which has seen $750 million of investments since 2023. Bayport has two additional berthing areas, Wharves 8 and 9, which could be developed in the next decade, depending on the port’s growth forecasts. Last October, Bayport handled the largest container ship to ever call the Port of Houston, the 11,356-TEU CMA CGM Cassiopeia. Between 2019 and 2024, the port’s container volume has grown an average of 4.3% per year. The work at Bayport coincides with ongoing work to expand the Houston Ship Channel to allow two-way traffic for post-Panamax vessels. Port Houston expects to complete widening of a five-mile portion of the Houston Ship Channel between the Bayport and Barbours Cut container terminals by the third quarter of 2025, with the full project done by 2029. Contact Michael Angell at michael.angell@spglobal.com .

Port News

Port infrastructure

Marine terminals

North American ports

New Houston berth to enhance post-Panamax handling

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At SSA Marine Mexico, we firmly believe that business development must go hand in hand with social and environmental well-being. Our vision is not solely focused on operating efficiently, but also on creating a meaningful and positive impact in the communities where we are present. Since 1995, we have reaffirmed this commitment through tangible actions that reflect our core values of responsibility, solidarity, and sustainability. <span class="joc_admin__inline-image joc_admin__inline-image-aspect-ratio-3_2 joc_admin__inline-image-position-left joc_admin__inline-image-size-medium" data-figure-size="medium" data-figure-position="left" data-figure-aspect-ratio="3:2"><img src="/content-assets/1752584535914_Photo%201.jpg" alt="" class="joc_admin__inline-image-inherit"> A Year of Major Achievements Over the past year, we allocated more than $107,000 USD to the implementation of 60 social and environmental projects, positively impacting over 7,800 people across various regions of Mexico. Each initiative was designed with a holistic approach, addressing key areas that contribute to long-term community development. Education: Laying the Foundation for the Future Education is one of the most powerful tools to promote social mobility and equitable development. At SSA Marine Mexico, we support academic initiatives that inspire and empower the next generation of leaders. One of our most impactful partnerships was with the University of Colima, where we sponsored the “Reto Camp” program. This initiative encourages university students to develop innovative solutions in the fields of sustainability, logistics, and port operations, offering them mentorship, tools, and real-world challenges to solve. In addition, we donated microscopes, school supplies, and educational materials to institutions in underserved communities, helping to improve the learning environment and provide students with the resources they need to succeed. Health and Sports: Promoting Wellness We believe that healthy communities are strong communities. We have supported several local sporting events and provided direct assistance to talented athletes, enabling them to pursue their passions and represent their regions with pride. Beyond sports, we also strengthened our collaboration with critical emergency response organizations such as the Mexican Red Cross and Civil Protection. Our contributions helped enhance their readiness and capabilities in times of crisis, ensuring better outcomes for those affected by emergencies. Supporting Vulnerable Groups: Reaching Those Who Need It Most A core part of our social responsibility efforts is directed toward supporting vulnerable populations. We have contributed to a range of initiatives focused on children, migrants, and at-risk families. These efforts included donations to orphanages and shelters, as well as support for the National Institute of Migration and grassroots organizations dedicated to protecting and empowering people facing adversity. By standing with those in need, we reinforce our commitment to inclusion and social justice, values that are central to our identity as a responsible company. <span class="joc_admin__inline-image joc_admin__inline-image-aspect-ratio-3_2 joc_admin__inline-image-position-left joc_admin__inline-image-size-medium" data-figure-size="medium" data-figure-position="left" data-figure-aspect-ratio="3:2"><img src="/content-assets/1752584944645_Photo%202.png" alt="" class="joc_admin__inline-image-inherit">Culture: Strengthening Community Identity Cultural identity is a key element in building resilient and united communities. At SSA Marine Mexico, we actively participate in the organization and sponsorship of cultural events that celebrate local traditions and foster civic pride. Working alongside port authorities and municipal governments, we helped bring music, art, and heritage to the forefront, creating spaces for community engagement and intercultural dialogue. Environment: Investing in the Planet Our commitment to sustainability goes beyond operations—it’s a philosophy that drives every decision we make. We have partnered with environmental institutions to carry out reforestation campaigns, beach cleanups, and conservation efforts. In collaboration with the Institute for the Environment, we supported initiatives aimed at decarbonization, biodiversity protection, and environmental education. By involving our employees and local volunteers in these actions, we also foster a culture of environmental stewardship throughout our organization and our surrounding communities. Innovation for a Sustainable Future Sustainability is not just about doing good—it’s also about doing things better. In 2024, we invested $22 million USD in the acquisition of 11 state-of-the-art E-RTG cranes. These electric rubber-tired gantry cranes represent a significant technological advancement in port equipment. Seven of them are already operating on clean electric energy, resulting in a reduction of nearly 4,000 tons of CO₂ emissions and improving operational efficiency by 7%. The remaining four cranes are fully compatible with future electrification, underscoring our long-term strategy to modernize our operations in an environmentally responsible way. This investment is part of a broader innovation roadmap that includes digitalization, automation, and cleaner energy sources—all designed to ensure that our ports continue to grow without compromising the health of our planet. Building a Better Tomorrow, Together At SSA Marine Mexico, we understand that sustainability is a shared and ongoing responsibility. True impact requires collaboration across sectors, long-term vision, and unwavering commitment. That is why we continue to work hand-in-hand with local authorities, non-profit organizations, universities, and our own employees to create solutions that are both scalable and sustainable. Our journey is far from over. In the years ahead, we will continue to deepen our community engagement, explore cleaner technologies, and strengthen the social fabric of the regions where we operate. Each initiative, no matter the size, is a step toward building a future where business success goes hand-in-hand with human and environmental prosperity. We are proud of what we have achieved in 2024, but we are even more excited about what lies ahead. SSA Marine Mexico — Moving the World, Caring for People and Planet. LINK: https://www.ssamarine.mx/

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SSA Marine Mexico: True Commitment to Sustainability

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