World Maritime News
WMNF 18/02/2026
HMM joins Maersk in flagging boxship glut risk
HMM warned of a rising risk of container ship oversupply after its 2025 earnings dropped sharply. Revenue and profits fell significantly due to weakening freight rates, echoing concerns raised by Maersk and Hapag-Lloyd. The global container ship orderbook has reached a 15‑year high, accounting for about 36% of the fleet, raising fears that supply will outstrip demand. Although deliveries will slow in 2026, a new wave is expected to begin in 2027. Freight rates continue to soften, making peak season surcharges unlikely to succeed. HMM plans to strengthen its hub‑and‑spoke network, expand low‑emission services, and diversify its bulk business to manage the downturn.
Read more: Lloyd’s List
Med revolt leaves Brussels in climate bind at IMO
Mediterranean EU countries — Spain, Italy, Greece, Cyprus, and Malta — are opposing the IMO’s Net‑Zero Framework (NZF), breaking EU unity. Their stance is strengthened by the Greek EU transport commissioner and Cyprus’s EU Council presidency. The IMO is urging the EU to accept a FuelEU‑style compromise that favors LNG and raises little climate revenue. Such a plan would satisfy the US and Middle Eastern states but anger Pacific Island and African nations, who expect climate finance. Despite this, Nordic and several EU states still support the NZF, though US–Saudi resistance may still block it. EU disunity risks further delaying the NZF and could lead the EU to retain its own ETS rather than shift to an IMO mechanism.
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Beijing throws weight behind Shanghai’s green bunkering push
Beijing is backing Shanghai’s plan to become a global hub for green marine fuel bunkering and trading by 2030. A new multi‑agency plan targets more than 1 million cubic meters of bonded LNG and over 1 million tonnes of methanol/biofuel bunkering annually. Although Shanghai has made progress—such as a 54% jump in bonded LNG bunkering in 2025—it remains behind Singapore in LNG supply. To close the gap, China will expand green‑fuel production, improve logistics corridors, launch night‑time bunkering, and develop a green‑fuel exchange and LNG futures market to boost Shanghai’s pricing influence. Shanghai currently leads Singapore in green methanol bunkering.
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Trump’s Maritime Action Plan seeks to resurrect US port fees
The Trump administration’s Maritime Action Plan proposes a universal fee on all foreign-built ships bringing imports to the U.S., charged by cargo weight (USD 0.01–0.25 per kg). Even at the lowest level, the fee would significantly raise costs for container ships, tankers, and car carriers; at the highest level, it would be prohibitive. Revenue would support U.S. shipbuilding and maritime workforce programs. The fee would mainly affect U.S. imports of containerized goods, oil/products, and vehicles, potentially adding millions of dollars per vessel call. A new land port tax aims to prevent shippers from routing cargo through Canada or Mexico, but it would not fully offset incentives to avoid U.S. ports. Implementation faces political, legal, and diplomatic hurdles, including the risk of retaliation and uncertainty over whether Congress or the USTR could authorize such fees. The plan may struggle to advance.
Read more: Lloyd’s List