Shipping Industry: The year that was (Part 2)

AS WE bid farewell to a year of mixed fortunes in the maritime world, S hipping Industry revisits the biggest stories that shaped the maritime sector around the region and globally. 2023 was marked by meaningful milestones and achievements for the Caribbean, highlighting the region’s strength and progress. From the arrival of Jamaica’s first floating dock to the signing of a historic agreement between the Caribbean Shipping Association (CSA) and the Inter-American Development Bank (IDB), the shipping and logistics industry has much to celebrate.

However, the global landscape also witnessed decisions that promise to leave an enduring impact on the sector. As the industry expectantly looks ahead, we continue to recap the events that defined 2023.

JAMAICA RE-ELECTED TO IMO COUNCIL

Jamaica secured its eighth consecutive term in Category C of the International Maritime Organization (IMO) Council during the organisation’s 33rd Assembly in London on December 1. The IMO Council, which serves as the executive body of the organisation, oversees its activities under the assembly’s purview.

Category C comprises 20 states with interests in maritime transport or navigation. Their election to the council ensures the representation of diverse major geographic areas across the globe. Among the nations elected alongside Jamaica are The Bahamas, Bangladesh, Chile, Cyprus, Denmark, Egypt, Finland, Indonesia, Kenya, Malaysia, Malta, Mexico, Morocco, Peru, the Philippines, Qatar, Saudi Arabia, Singapore, and Turkey.

JAMAICA WELCOMES FIRST VESSEL FOR DRY DOCKING

Jamaica achieved a significant milestone on November 19, as the German Ship Repair Jamaica (GSRJ) shipyard welcomed its inaugural vessel for dry dock servicing. The vessel, the Mexican Giant, underwent dry docking at the newly established JAM-DOCK 1. The heavy-lift vessel specialises in transporting heavy equipment and cargo to and from oil rigs in the Gulf of Mexico and was scheduled for comprehensive repairs and servicing to meet the stringent standards of its five-year classification.

BARBADOS PORT INC WINS CONTAINER PORT OF THE YEAR

Barbados Port Inc clinched the prestigious Ludlow Stewart Container Port of the Year 2023 Award during the Caribbean Shipping Association’s 53rd Annual General Meeting, Conference, and Exhibition gala on October 24.

The top five ports demonstrated an exceptional standard, with all of them securing scores within a 10-point margin of each other. This remarkable achievement underscores the high quality prevalent in the regional maritime sector.

In addition to Barbados Port Inc’s win, there was a noteworthy tie for second place by the Port of Cartagena Group and the previous year’s winner, Havenbeheer Paramaribo. Completing the top five were the Guadeloupe Port Authority and Hutchinson Ports PPC. The recognition of these outstanding ports exemplifies the ongoing commitment to excellence within the Caribbean maritime community.

WORLD’S LARGEST CRUISE SHIP DELIVERED

Royal Caribbean took delivery of the world’s largest cruise ship, Icon of the Seas, on November 27. The 1,198-foot vessel, with 20 decks and a weight of 250,800 tonnes, will embark on its inaugural voyage from Miami, Florida, in late January for a week-long Caribbean tour.

Royal Caribbean said the ship’s construction took 900 days and can accommodate 7,600 guests and 2,350 crew members. Originally slated for delivery in early 2022, the timeline was delayed due to pandemic-related disruptions.

The Icon of the Seas has eight distinct neighbourhoods and 40 bars and dining options. The company also shared that the ship can be powered by liquefied natural gas and will have the first waste-to-energy plant at sea.

PANAMA CANAL

The shipping industry suffered a major blow as the Panama Canal was affected by a months-long drought that resulted in massive delays for vessels.

A potent El Niño phenomenon has significantly reduced rainfall in the region, leading to a decline in the canal’s water levels. This situation left many shippers with difficult decisions as to whether they tolerate lengthy queues, pay large amounts to speed up their passage, or take much lengthier alternative routes.

Following better-than-expected November rains, the canal will implement an increase in the daily allowance of vessels navigating the system from 23 to 24 in January 2024.