World Maritime News
WMNF 13/05/2026
Anti-NZF states keep their horse in the race
Opposition to the IMO’s Net-Zero Framework (NZF) succeeded in keeping alternative proposals under discussion by prolonging procedural debates. Countries such as Saudi Arabia, the US, and Liberia pushed for continued consideration of a weaker, fossil fuel-based alternative, while progressive states preferred focusing solely on advancing the NZF. As a result, no clear agreement was reached at MEPC84, and further intersessional meetings were scheduled, leaving the NZF’s adoption uncertain and giving opponents more opportunities to delay or weaken it.
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Maersk warns excess capacity and geopolitical tensions continue to pressure box market
Maersk reported weaker Q1 2026 financial results as falling freight rates offset strong volume growth. Container volumes rose 9.3%, but average freight rates dropped 14%, leading to a 2.6% decline in revenue to $13 billion and a 33% fall in EBITDA to $1.8 billion. While demand remained solid across most regions, the market faced ongoing pressure from excess shipping capacity and geopolitical tensions, particularly in the Middle East. Rising fuel costs and disruptions increased uncertainty, though cost controls and operational adjustments helped mitigate the impact. Maersk maintained its full-year outlook but warned that risks remain skewed to the downside due to high energy prices and geopolitical instability.
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European shipping risks a decline without investment in clean fuels
European shipping is growing in absolute terms, but its global share is declining as Asian fleets expand more rapidly. While European shipowners lead in ordering environmentally friendly vessels (44% of global orders), Europe lags far behind Asia in clean fuel production, accounting for only 10% compared to Asia’s 74%. The European Community Shipowners’ Associations (ECSA) warns that without stronger investment in clean fuel production—especially through reinvesting the €9bn annual ETS contributions—Europe risks losing competitiveness and energy security. Despite ambitious climate goals, insufficient fuel availability and investment could undermine the energy transition and Europe’s position in global shipping.
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Vehicle shipping demand holds firm despite rising costs and geopolitics, says Wallenius Wilhelmsen
Global vehicle shipping demand remains strong, supported by high utilization and robust exports from Asia—especially China—which offset declining volumes from Europe and the US. This growing East–West trade imbalance continues to sustain demand for vehicle carriers. However, rising geopolitical tensions, particularly in the Middle East, along with higher fuel costs and a tighter charter market, are increasing pressure on the sector. Wallenius Wilhelmsen expects higher bunker costs to impact short-term earnings, though some of the impact may be offset by surcharges. Despite limited direct exposure to the Middle East, the company lowered its 2026 outlook due to rising costs. While global auto exports remain solid, higher energy prices and economic uncertainty could weaken future demand.
Read more: Lloyd’s List