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02 July 2025 - Year XXIX
Independent journal on economy and transport policy
13:51 GMT+2
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Crisis in Shipping Industry Could See Banks Lose Billions
(The East African)
January 13, 1999
by Paul Redfern The Eastafrican

THE GROWING crisis in the world shipping industry could force some of the world's top banks to make major loss provisions in their loan portfolios.

Estimates put global loans outstanding to banks at around $80 billion. Some of the most heavily exposed are Citibank, the Royal Bank of Scotland and HSBC.

Mr James Cobb, president ......
Read more on The East African
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FROM THE HOME PAGE
PORTS
HMM and CMA CGM Total Terminal International Algeciras Expansion Project
Seoul
An investment of 150 million euros is planned. The capacity will be increased to 2.8 million teu
INSTITUTIONS
European Commission meeting to define the strategy for the development of EU ports and maritime industry
Brussels
Call for papers by July 28th
Assarmatori asks for support for Italian seafarers employed on short-haul routes and for the renewal of ferry fleets
ASSOCIATIONS
Assarmatori asks for support for Italian seafarers employed on short-haul routes and for the renewal of ferry fleets
Rome
Messina: State Aid regime needs to be redesigned for European shipyards
SHIPPING
In the first four months of 2025, maritime container traffic between Asia and Europe grew by +4.8%
Tokyo
-6.4% drop in shipments to Asian ports. +9.0% increase in unloading volumes in Europe
SHIPPING
The impact on Italy of a possible closure of the maritime route through the Strait of Hormuz would be significant
Rome
The merchant fleet for energy products controlled by the Italian shipping industry interested in these traffics amounts to approximately 80 units.
Cargo traffic in China's seaports grew by +3.7% last month
PORTS
Cargo traffic in China's seaports grew by +3.7% last month
Beijing
Containers amounted to 26.7 million TEU (+6.1%)
SHIPPING
In 2024, 576 containers were lost at sea out of over 250 million transported by ships
Washington
About 200 have fallen from container ships in the Cape of Good Hope region
SHIPPING
FMC questions deal exempting World Shipping Council companies from US antitrust rules
Washington
Meanwhile, Sola, appointed by Trump on January 20 to the presidency of the federal agency, is leaving his post today.
CUSTOMS
The European maritime-port sector nitpicks the reform of the Community customs rules
Brussels
Note from CLECAT, ECASBA, European Shipowners, ESPO, Feport and WSC
CUSTOMS
EU Council agrees on reform of the Union Customs Code
Brussels
CLECAT is concerned about the persistence of the concept of "Single Liable Person" in the text
PORTS
In the first three months of 2025, freight traffic in the port of Civitavecchia grew by +2.4%
Civitavecchia
Increase of +9.9% in Gaeta and decrease of -17.1% in Fiumicino
Le Aziende informanoSponsored Article
Accelleron consolida le partnership con Somas e Geislinger per sostenere l'efficienza e la sostenibilità del settore marittimo
SHIPYARDS
Japanese shipbuilding company Imabari Shipbuilding acquires control of fellow Japanese JMU
Imabari/Tokyo
Ownership share increased from 30% to 60%
TRADE
WTO: New tariffs have given a boost to trade that is unlikely to last
Geneva
Recovery driven by importers who brought forward purchases in view of expected tariff increases
PORTS
Terminal Investments Limited of the MSC Group acquires 50% of the capital of Barcelona Europe South Terminal
Barcelona
The transaction was authorized by the Port Authority of Barcelona
ENVIRONMENT
There are no implementing decrees for the SalvaMare law and Italian citizens are paying for the management of fished waste that is not carried out
Rome
The Marevivo Foundation and the Federation of the Sea report it
In five and a half years, 1,244 tons of drugs have been seized in EU ports
PORTS
In five and a half years, 1,244 tons of drugs have been seized in EU ports
Lisbon
The largest quantities pass through ports in Belgium, Spain, Holland, Italy and Germany
SHIPYARDS
The International Convention on Ship Recycling will enter into force tomorrow
Copenhagen
BIMCO urges EU to include Indian shipyards in EU list of ship recycling facilities
LOGISTICS
Assologistica presents the "Cruscotto" project to ensure transparency and legality in the logistics sector
Milan
Ruggerone: it is an infrastructure of trust between clients and operators
Federagenti, cruises cannot and must not become the target of an indiscriminate hate campaign
ASSOCIATIONS
Federagenti, cruises cannot and must not become the target of an indiscriminate hate campaign
Rome
A "Pact for the Sea" proposed with solutions to tackle overtourism for which passenger ships are not to blame
New step forward for the construction of the underground freight transport system in Switzerland
INFRASTRUCTURE
New step forward for the construction of the underground freight transport system in Switzerland
Bern
Cargo sous terrain plans to build a 500-kilometer system by mid-century
Carnival posts record earnings for March-May period
CRUISES
Carnival posts record earnings for March-May period
Miami
The number of cruise passengers embarked also peaked this quarter
RAILWAY TRANSPORT
Federlogistica, it is reckless to activate railway construction sites without a concerted plan
Genoa
Falteri: Isolating the port of Genoa from the railway network for three weeks means putting the whole of Northern Italy in difficulty
Multipurpose terminals privatized in eight Saudi ports
PORTS
Multipurpose terminals privatized in eight Saudi ports
Riyadh
Four will be operated by Saudi Global Ports and four by Red Sea Gateway Terminal
Public debate launched on the project for Pier VIII in the port of Trieste
PORTS
Public debate launched on the project for Pier VIII in the port of Trieste
Trieste
A total investment of 315.8 million euros is expected
South Korea's HD Hyundai partners with US Edison Chouest Offshore to build containerships in US
SHIPYARDS
South Korea's HD Hyundai partners with US Edison Chouest Offshore to build containerships in US
Seoul
The possibility of building other types of ships and constructing port cranes is foreseen
PORTS
Rixi: with the Omnibus decree, Phase B of the new Genoa breakwater is guaranteed
Rome
Expenditure of 50 million euros authorised for 2026 and 92.8 million for 2027
SHIPPING
Israel-Iran conflict prompts Maersk to suspend calls at Haifa port
Copenhagen
Those at the port of Ashdod will continue instead.
SAFETY & SECURITY
Northern European Nations Commitment to Counter Russian Shadow Fleet
Warsaw
If the vessels do not fly a valid flag in the Baltic Sea and the North Sea - they specify - we will take appropriate measures in compliance with international law.
Freight traffic in French ports stable in the first quarter of 2025
PORTS
Freight traffic in French ports stable in the first quarter of 2025
The Defense
Containers and liquid bulk on the rise. Increase in unloading loads and decrease in loading loads
ASSOCIATIONS
Cognolato (Assiterminal): Today more than ever we need a coherent port policy
Rome
All the critical issues highlighted in recent years still remain open - he highlighted.
ASSOCIATIONS
Alessandro Pitto confirmed as president of Fedespedi
Milan
The Board of Directors, the Board of Arbiters and the Board of Auditors have been renewed
SEAFARERS
A protest action by Greek seafarers is heated, with the PENEN and PNO unions launching very serious accusations, including mutual ones
Piraeus
The strike, declared illegal by the courts, blocks some ships of the Attica group in the port of Patras
INDUSTRY
Saipem awarded contract for a phosphate mining project in Algeria that includes the upgrading of the port of Annaba
Milan
The construction of railway lines is also planned
Suez Canal celebrates return of large-capacity containership transits
SHIPPING
Suez Canal celebrates return of large-capacity containership transits
Ismailia
Today it was crossed by the vessel "CMA CGM Osiris" which can carry 15,536 teu
SEAFARERS
IMO, ILO, ICS and ITF urge protection of seafarers' rights against unjust criminalisation
London
The "Guidelines on the Fair Treatment of Seafarers Detained in Relation to Alleged Offences" were adopted in April
PORTS
Trump's new tariffs also hit container traffic at the Port of Long Beach
Long Beach
In the first five months of 2025, an increase of +17.2% was recorded
PORTS
Transfer of the port of Carrara from the Ligurian to the Tuscan AdSP not without a discussion with the operators
Milan
Dario Perioli, FHP, Grendi and Tarros ask for it
PORTS
Up to $768 billion in investments needed to adapt world ports to rising sea levels
New York
PORTS
Port of Los Angeles Feels Impact of New Tariffs on Container Traffic
Los Angeles
A decrease of -4.8% was recorded in May
ASSOCIATIONS
Assagenti proposes a task force to solve port, logistics and industrial problems
Genoa
A "problem solver" consultative body composed, in addition to the categories of the maritime cluster, of the manufacturing industries of the North-West quadrant
PORTS
Cargo traffic at the port of Singapore fell by -4.6% in May
Singapore
New crane overturned for delivery in new Tuas port area
RAILWAY TRANSPORT
In the first quarter of 2025, freight traffic on the Swiss rail network fell by -6.4%
Neuchatel
Service performance at 2.35 billion tonne-km, down -8.2%
ANGOPI fears that new measures to ensure maritime continuity will penalise mooring services
MARITIME SERVICES
ANGOPI fears that new measures to ensure maritime continuity will penalise mooring services
Ischia
Power: it is necessary to remove them from a perverse mechanism
PORTS
Dutch HES International to operate bulk terminal in Marseille-Fos port
Marseille
The concession contract will have a minimum duration of 30 years
SHIPPING
Ibiza government opposes Trasmed's overnight stay on board ferry program
Ibiza/Valencia
It is considered a "clandestine hotel", while the company defines it as a cruise service
PORTS
Bruno Pisano appointed extraordinary commissioner of the AdSP of the Eastern Ligurian Sea
Rome
He will take up his post next Monday
TRUCKING
Federlogistica proposes a comparison between operators on the congestion fee while waiting for a solution from the government
Genoa
PORTS
In the first five months of 2025, container traffic in the port of Gioia Tauro grew by +10.3%
Joy Taurus
1,813,071 TEUs were handled
TRUCKING
Trasportounito, truck waiting times in ports must be paid
Genoa
Tagnochetti: The Port Fee aims to redistribute the costs of all disruptions more equitably
PORTS
Commissioners of the AdSPs of the Northern Tyrrhenian, Ionian and Western Liguria appointed
Rome/Genoa
Trade unions concerned about the future of Genoa Port Terminal workers
SHIPPING
Political instability and green transition are the main problems that shipping faces
London
This is highlighted in the "ICS Maritime Barometer Report 2024-2025"
PORTS
The new container terminal of the port of Termini Imerese presented
Palermo
Transfer of traffic handled by Portitalia to the port of Palermo
SHIPPING
GCMD survey confirms shipping's commitment to decarbonisation
Singapore
Ports concerned about lack of certainty about demand from shipping companies
PORTS
The EU Commission has re-identified Port Said East and Tanger Med as neighbouring container transhipment ports
Brussels
PORTS
The commissioners of various AdSPs also assume the powers attributed to the Management Committees
Rome
Provisions for the port authorities of the Ionian Sea, the Central-Northern Adriatic Sea, the Eastern Ligurian Sea and the Northern Tyrrhenian Sea
COMPANIES
Ferrara-based INCICO acquires Italiana Sistemi and focuses on transport engineering
Ferrara/Naples
It specializes in infrastructure and plant engineering in the railway and road sectors
INTERMODAL TRANSPORT
Hupac announces expansion of Duisburg-Singen shuttle with connections to Italy
Noise
Daily departures will be made
COMPANIES
The transfer of 80% of Louis-Dreyfus Armateurs' capital to InfraVia has been implemented
Suresnes/Paris
The Louis-Dreyfus family retains the remaining 20%
PORTS
Port of Genoa, green light for extension of concession to Spinelli until September 30
Genoa
Ok also to the extension to the Campostano group
EDUCATION
The National Maritime Fund has started the recognition of scholarships
Genoa
They are granted for basic training and security familiarization courses.
RAILWAY TRANSPORT
RFI and MIT sign the update to the program contract for approximately 2.1 billion
Rome
Around 500 million euros expected for the management of the railway network
SHIPYARDS
San Giorgio del Porto delivers a vessel for the bunkering of liquefied natural gas
Genoa
It was built for Genova Trasporti Marittimi
PORTS
Pisano (AdSP Liguria Orientale): the ports of La Spezia and Carrara have integrated almost perfectly
La Spezia/Bari
Extraordinary Commissioner of the Southern Adriatic Sea Port Authority appointed
PORTS
Raffaele Latrofa appointed president of the AdSP of the Central-Northern Tyrrhenian Sea
Rome
He is the deputy mayor of Pisa
SHIPYARDS
India's Mazagon Dock Shipbuilders Acquires Control of Sri Lanka's Colombo Dockyard
Mumbai
Investment of approximately 53 million dollars
PORTS
The Commissioner of the Western Ligurian Sea Port Authority has been granted the powers and prerogatives of the Management Committee
Genoa
The measure pending the restoration of the ordinary top management bodies
PORTS
The Three-Year Operational Plan 2025-2027 of the Central Adriatic Port Authority has been approved
Ancona
Favorable opinion of the Sea Resource Partnership Body
MEETINGS
The public meeting of the International Containers Studies Center will be held in Genoa on July 2nd
Genoa
It will deal with the physical transformations of the container and the digitalization of processes
ASSOCIATIONS
Andrea Ormesani is the new president of Assosped Venezia
Venice
The board of directors has been renewed. Paolo Salvaro remains general secretary
MARITIME SERVICES
Witte (ISU): In 2024, the ship salvage sector stabilized from the low of two years ago
London
INDUSTRY
Finnish Elomatic to Install Tunnel Thrusters on 11 Carnival Cruise Ships
Turku
The works will begin next autumn and will end in 2028
MEETINGS
The Assarmatori assembly will be held in Rome on July 1st
Rome
"Mediterranean against the current" the theme of the meeting
SHIPYARDS
Fincantieri has delivered the new cruise ship Viking Vesta to the American Viking
Trieste/Los Angeles
It was built in the Ancona shipyard
SAFETY & SECURITY
The Genoa Coast Guard has placed the container ship PL Germany under administrative detention
Genoa
SHIPYARDS
Italian Navy orders two new Multipurpose Combat Ships from Fincantieri
Trieste
The order to the shipbuilding company is worth 700 million euros
PORTS
MSC Group to manage cruise services in the ports of Bari and Brindisi
Bari
Ten-year concession with possibility of extension
INTERMODAL TRANSPORT
German Kombiverkehr Returns to Profit in 2024
Frankfurt am Main
The level of revenues remained unchanged at 434.6 million euros.
COMPANIES
Deltamarin to design the six new ro-pax vessels ordered by Grimaldi for the Mediterranean routes
Turku
SAILING LIST
Visual Sailing List
Departure ports
Arrival ports by:
- alphabetical order
- country
- geographical areas
LOGISTICS
The practice of subcontracting in European logistics is creating a parallel labour market where rights are not enforced
Brussels
"Sorry, We Subcontracted You" Report Presented
SHIPPING
Tomorrow Grendi will launch the group's fourth ship on routes to and from Sardinia
Milan
"Grendi Star", with a load capacity of 2,800 linear meters, will connect Marina di Carrara and Cagliari
DEFENCE
FREMM frigates operational support contract signed between Orizzonte Sistemi Navali and OCCAR
Taranto
The agreement has a total value of approximately 764 million euros
TRUCKING
Call to reform the entire driver training system in the transport sector
Rome
Seven proposals presented
NEWS
In the port of Gioia Tauro, the Guardia di Finanza soldiers seized 228 kilos of cocaine
Reggio Calabria
Two dockers arrested
PORTS
Port of Livorno, new observatory to find solutions to the problem of port congestion
Leghorn
Marilli: We will seek solutions to reach the possible revocation of the port fee
INSURANCE
Lockton PL Ferrari closed the last fiscal year with gross revenues of 34 million dollars
Genoa
Insurance premium volume rose to 350 million
LOGISTICS
Polish Trans Polonia Group acquires Dutch Nijman/Zeetank Holding
Tczew
It specializes in the transportation and logistics of liquid and gaseous products
SHIPPING
d'Amico Tankers Sells Two 2011-Built Tankers for $36.2 Million
Luxembourg
They will be delivered to buyers by the end of July and on December 21st.
EDUCATION
The Italian Merchant Marine Academy plans 13 new free courses
Genoa
Over 300 positions available
ASSOCIATIONS
A delegation of Wista Italy visits the ports of Catania and Augusta
Catania/August
The association is made up of women who hold positions of responsibility in the maritime, logistics and trade sectors.
PORTS
In the first five months of 2025, the port of Algeciras handled 1.9 million containers (-6.3%)
Algeciras
Empty containers decreased by -5.5% and full ones by -6.4%
INFRASTRUCTURE
Reway Group enters the port railway infrastructure maintenance sector
Licciana Nardi
Two contracts awarded by the AdSP of the Eastern Ligurian Sea
SHIPPING
Delcomar and Ensamar take over maritime services with the smaller Sardinian islands
Cagliari
The tender for the six-year concession of the connections has been awarded
PORTS
Port of Trieste, the newly appointed Gurrieri torpedoes the newly appointed Torbianelli
Trieste
Russo (Pd): it's a squalid power game
SHIPPING
Singapore's SeaLead expands its maritime shipping offering to connect Turkey and Italy
Singapore
Route connected to services transiting the Suez Canal
SAFETY & SECURITY
The US Container Security Initiative program has been extended to Morocco
Rabat
Amrani: Let's consolidate Tanger Med's role as a safe and world-class maritime hub
SHIPPING
Very positive first quarter for Greek Euroseas
Athens
Pittas: the positive momentum continued in the second quarter
MARINAS
Assonat and SACE present a plan for Italian tourist ports
Rome
LOGISTICS
Kuehne+Nagel has opened a new branch in Naples
Milan
The aim is to support the operational growth of the group in Southern Italy
COMPANIES
RINA has acquired the entire capital of Finnish Foreship
Helsinki
The Helsinki-based company specializes in consulting in the field of marine and mechanical engineering.
PORTS
Container traffic down at Barcelona and Valencia ports in May
Barcelona/Valencia
Resumption of containers in transit at the Catalan port
PORTS
Annual cargo traffic in Greek ports stable in 2024
Piraeus
Domestic volumes are growing, while foreign trade is decreasing
PORTS
Perplexity of freight forwarders, customs agents and maritime agents of La Spezia at the transfer of the port of Carrara to the Tuscan AdSP
The Spice
Timidly, they "hope for consideration for the progress made so far"
PORTS
Francesco Mastro appointed extraordinary commissioner of the Southern Adriatic Sea Port Authority
Rome
He will take up office on June 30th.
ASSOCIATIONS
John Denholm to be new president of the International Chamber of Shipping
Athens
He will take over from Emanuele Grimaldi in a year
PORTS
Extraordinary commissioners of the two Ligurian Port System Authorities have been installed
Genoa/La Spezia
Matteo Paroli and Bruno Pisano at the helm of the institutions
PORTS
Container traffic at Hong Kong port drops sharply in May
Hong Kong
1.05 million TEUs were handled (-12.7%)
TRANSPORTATION
Assogasliquidi-Federchimica shows the way to accelerate the decarbonization of road and maritime transport
Rome
Amadei: Our sector is ready and the time has come for courageous industrial choices
LAW
Eagle S tanker command blamed for cutting submarine cables in Gulf of Finland
Advantages
The accident was caused by the ship's anchor
SAFETY & SECURITY
Online platform to report critical issues that put transport workers at risk
Genoa
It was prepared by Fit Cisl Liguria
SHIPPING
GNV to create a direct summer connection between Civitavecchia and Tunis
Genoa
It will run alongside the historic route via Palermo
PORTS
The unification of Grimaldi's concessions in the port of Barcelona has been completed
Madrid/Barcelona
The contract expires on September 20, 2035.
PORTS
In the first five months of 2025, cargo traffic in Russian ports fell by -4.9%
St. Petersburg
A decrease of approximately -12% was recorded in May
LOGISTICS
Raben Logistics Group Creates Subsidiary in Türkiye
Milan
It will have 20 employees and a 2,000 square meter cross-dock warehouse
ASSOCIATIONS
Alberto Dellepiane confirmed as president of Assorimorchiatori
Rome
The composition of the entire association leadership remains unchanged
DEFENCE
Agreement between Fincantieri and Indonesian PMM to develop solutions to face new unconventional underwater challenges
PORTS
Italian Ports:
Ancona Genoa Ravenna
Augusta Gioia Tauro Salerno
Bari La Spezia Savona
Brindisi Leghorn Taranto
Cagliari Naples Trapani
Carrara Palermo Trieste
Civitavecchia Piombino Venice
Italian Interports: list World Ports: map
DATABASE
ShipownersShipbuilding and Shiprepairing Yards
ForwardersShip Suppliers
Shipping AgentsTruckers
MEETINGS
MEETINGS
The Assarmatori assembly will be held in Rome on July 1st
Rome
"Mediterranean against the current" the theme of the meeting
MEETINGS
The public meeting of the International Containers Studies Center will be held in Genoa on July 2nd
Genoa
››› Meetings File
PRESS REVIEW
US has its eye on Greek ports
(Kathimerini)
Proposed 30% increase for port tariffs to be in phases, says Loke
(Free Malaysia Today)
››› Press Review File
FORUM of Shipping
and Logistics
ASSITERMINAL
Intervento del presidente Tomaso Cognolato
Roma, 19 giugno 2025
››› File
PORTS
Structural adaptation works on dock 23 of the port of Ancona awarded
Ancona
Intervention worth over 11.8 million euros
MEETINGS
Conference on the role of LNG and bioLNG for the decarbonisation of transport and industry
Rome
The Federchimica-Assogasliquidi event will take place on Monday in Rome
INDUSTRY
Dutch Bolidt increases presence in cruise ship sector with acquisition of American Boteka
Hendrik Ido Ambacht
COMPANIES
Contship Italia has acquired the Genoese customs services company STS
Melzo
The Ligurian company was founded in 1985
PORTS
Francesco Benevolo has been appointed extraordinary commissioner of the AdSP of the Central-Northern Adriatic Sea
Rome
He is the operations director of RAM - Logistics, Infrastructure and Transport
PORTS
Montaresi resigns as commissioner of the Eastern Ligurian Port Authority
The Spice
In the eight months of administration - he underlines - we have not lost even a second
PORTS
Gurrieri has been appointed extraordinary commissioner of the AdSP of the Eastern Adriatic Sea
Trieste
Pending the completion of the formal process for the designation of the president
PORTS
The commissioners of the AdSP of Western Liguria have handed over their mandate to Minister Salvini
Genoa
The decision is part of the process of designation and nomination of the new leaders
LEGISLATION
Confetra criticizes the provisions of the decree-law Infrastructure for road transport
Rome
The Confederation urges the blocking of the process of appointing the presidents of the port authorities
SHIPPING
Taiwanese Evergreen, Yang Ming and WHL saw revenue decline in May
Keelung/Taipei
The decline is accentuated for the two main companies
SHIPYARDS
South Korea's KSOE wins order to build eight 15,900 TEU containerships
Seongnam
The unit value of each vessel is approximately $221 million.
PORTS
First port terminal for car traffic of Greek Neptune Lines
Piraeus
It will be inaugurated next year in the French port of Port-La Nouvelle
MEETINGS
The assembly of the association of Genoese maritime agents and brokers will be held on June 16th
Genoa
Round Table on Genoa, the hub of the North West and the Mediterranean
COMPANIES
BN di Navigazione Board of Directors Renewed
Genoa
BluNavy aims to reach one million passengers by 2025
SHIPPING
Viking Line designs world's largest all-electric ro-pax vessel
Viking Line designs world's largest all-electric ro-pax vessel
Åland
PORTS
Record Monthly Container Traffic at Turkish Ports
Ankara
In May, almost 1.4 million TEUs were handled (+17.6%)
ASSOCIATIONS
Sergio Landolfi has been elected president of the Customs Association of the Port of La Spezia
The Spice
The board of directors has been renewed
ASSOCIATIONS
The ferry industry elite will attend the Interferry conference in Salerno in October
Victoria
Event titled "Connections"
CHARITY
Uniport launches an initiative to support ALS research
Rome
Fundraising for the NeMO Clinical Center Serena Foundation Onlus
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