Bunker Fuel Prices Surge Over 30%, Multiple Liner Giants Impose Emergency Surcharges

Affected by the continued escalation of the Middle East conflict, the recent downward trend in bunker fuel costs has reversed, with prices surging sharply. Multiple container liner companies will reintroduce emergency bunker surcharges starting in August. Earlier, driven by expectations of a US-Iran ceasefire, prices for very low sulphur fuel oil (VLSFO) and high sulphur fuel oil (HSFO) had eased in early July. However, as US airstrikes intensified, fuel prices have spiked again over the past two weeks.

Container ship demolition volumes hit an all-time low

According to the latest statistics from shipping analysis agency Alphaliner, the global container ship demolition market remained sluggish in the first half of 2026, continuing last year's downturn, with commercial scrapping volumes staying at record-low levels. Although the total demolition capacity in the first half appeared to recover somewhat when including vessels lost due to accidents and those under sanctions, the number of purely economically motivated demolition transactions remained very limited after excluding these non-commercial factors.

26-year-old PCTC changes hands at $42 million

According to sources, the 4,310-CEU pure car and truck carrier (PCTC) Chang Shenghong (IMO: 9177040) was sold at auction on Tuesday, July 21, for approximately $42 million. For a 26-year-old PCTC, this price is exceptionally high.

From global No. 13 to No. 80, the former liner upstart now has only four ships left.

According to foreign media reports, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced a new round of sanctions last week, blacklisting the main operating entities of Sea Lead Shipping based in Singapore, Dubai, and the Marshall Islands, along with its Indian agent company.

Chen Shuai appointed as Chairman of COSCO Shipping Specialized

On the evening of July 21, COSCO Shipping Specialized Carriers Co., Ltd. (hereinafter referred to as "COSCO Shipping Specialized") issued the "Announcement on the Resolutions of the 10th Meeting of the 9th Board of Directors."** The announcement stated that, based on the written recommendation from its indirect controlling shareholder, China COSCO Shipping Group Co., Ltd., the Board of Directors agreed to elect Director Chen Shuai as the Chairman of the 9th Board of Directors of the Company.

COSCO SHIPPING Holdings Deputy GM Qian Ming Steps Down

On July 23, COSCO SHIPPING Holdings Co., Ltd. (hereinafter referred to as "COSCO SHIPPING Holdings") issued an announcement stating that the Company's Board of Directors had received a resignation letter from Mr. Qian Ming. Due to a change in work assignment, Mr. Qian voluntarily resigned from his positions as Deputy General Manager and General Counsel of the Company.

Rejecting Low-Price Competition and Jointly Solving Overseas Expansion Challenges: Changjiu Logistics Charts a Course for Transformation and Breakthrough

Recently, the "2026 Automotive Whole Vehicle Logistics Development Conference" hosted by the China Federation of Logistics & Purchasing was successfully concluded in Jinan, Shandong.

Global First! Remote-Signing Delivery

On July 21, CSSC Guangzhou Shipbuilding International (GSI), in collaboration with CSSC Shipping, successfully delivered the 10,800-car LNG dual-fuel car carrier No. 1 to Korea Ocean Business Corporation (KOBC) via an online remote signing ceremony. The virtual delivery method is a clear testament to KOBC's long-standing trust in China's shipbuilding capabilities and its recognition of GSI's construction quality.

COSCO Shipping has been selected for the 2026 Fortune China 500 list, ranking 60th!

On July 21, Fortune China released its 2026 Fortune China 500 list, and China COSCO Shipping Corporation Limited was ranked 60th on this year's list.

Ship Explosion at Wuhan's Yangluo Port Leaves One Crew Member Missing

According to a report by Xinhua News Agency, at 5:30 a.m. on July 22, the LNG-fueled hybrid container ship "Yihang Mingyuan" experienced a loud explosion in its aft compartment while berthing at Berth A101 of Yangluo Port, and some containers fell into the water. Preliminary information indicates that seven empty containers fell overboard and one crew member is missing.