Shipping News that Shaped 2022

The Russia–Ukraine War: Russia’s invasion of Ukraine created shock waves in global energy markets, leading to price volatility, supply shortages, security issues, and the reshaping of the world energy seaborne map.

Development of the FuelEU Maritime Regulations: The FuelEU Maritime proposal was designed to accelerate the maritime industry’s decarbonization through the adoption of renewable and low-carbon fuels and technologies. The proposal introduces requirements to reduce the intensity of greenhouse gas emissions from marine fuels between 2025 and 2050 and will be directly binding on ship operators.

China’s Strict Zero-Covid Policies: China, the world’s second largest economy, shut down a key terminal at its Ningbo-Zhoushan port — the third busiest port in the world – after one worker tested positive for Covid. According to an economist at Moody’s, China’s strict zero-Covid policy led to prolonged disruptions in 2022’s global supply chain.

Battle for Control of Antwerp-based Tanker Giant Euronav: 2022 saw a battle between two of Europe’s best known shipping families, Euronav and Frontline, for control of the continent’s largest tanker firm. Evercore ISI analysts said the proposed $4.2bn merger would create a “supersized tanker behemoth” in an industry where most company market capitalizations are lower than $1bn.

Mediterranean Shipping Co’s Extraordinary Growth: Since August 2020, Geneva-based MSC has bought more than 250 secondhand ships, a rate of expansion on a scale never seen before in any commercial shipping sector. This period of expansion saw MSC surpass alliance partner Maersk at the top of the liner rankings at the start of 2022.

The Container Bubble Bursting: 2022 saw the Covid freight rate bubble burst, with the absence of “easy money” now forcing smaller carriers and forwarders to quit the transpacific trade.

This site is registered on as a development site.