Recent strikes by the U.S. and Israel on Iran have caused major disruptions in global shipping, particularly in the critical Strait of Hormuz. The Joint Maritime Information Center has declared the threat level as CRITICAL, leading to attacks on commercial vessels and halting over 80% of transits, significantly affecting oil markets.
The Nigerian maritime sector is in crisis, with its indigenous fleet dwindling drastically, leading to foreign carriers handling 95% of cargo. Stakeholders at the PortNews Summit called for the urgent release of the Cabotage Vessel Financing Fund, which has remained dormant for 18 years, costing the economy billions annually.
The ports of Antwerp, Zeebrugge, and Ghent are experiencing significant delays due to a work slowdown by Belgian sea pilots protesting proposed pension reforms. With pilots only available from 10 AM to 5 PM, around 70 ships are currently waiting for services, severely impacting shipping operations across the region.
Since Thursday evening, pilots and maritime workers in Flemish ports have been protesting government pension plans. They fear cuts of up to 45% in pensions for young seafarers and pilots. While the pilots have not gone on strike, delays in ship departures have already been seen. Efforts are being made to minimize waiting times for ships.
The Sea-Intelligence end-of-year report for 2024 revealed that containership schedule reliability remained consistent around 50%-55%, slightly lower than the previous year. Despite challenges like diversions and longer travel times, the industry maintained a yearly average of 53%. Maersk led with over 60% reliability, aiming to exceed 90% with new routes.
Scottish shipbuilder Ferguson Marine recently handed over the first dual-fuel LNG ferry, the Glen Sannox, to the government. Delayed by nearly ten years and facing cost overruns, the 7,300-ton vessel is now set to serve the Arran route. Despite controversies and ballooning costs, the ferry marks a crucial step in Scotland’s ferry procurement program.
In 2024, delays for containerships have reached levels not seen since the pandemic peak, with schedule reliability dropping to 51.4%. Maersk and Hapag-Lloyd aim to improve to 90% with the Gemini Cooperation in 2025. Port congestion in Asia and disruptions from Red Sea rerouting are contributing factors. Vessel bunching and winter weather challenges are causing delays.
Four months into the Red Sea diversions, liner shipping has shown improvements in schedule reliability. Sea-Intelligence reports a 1.6% increase in carrier reliability in March 2024, reaching nearly 56%. Carriers have adjusted schedules and brought in new tonnage to absorb disruptions, with late-arriving vessels reducing wait times. Pre-crisis levels are not yet reached.
