Commentary
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Given that there are several geographies similar to India where there are only a small number of ports able to take the very biggest ships, it could well be that the surplus of big ships creates more hub-and-spoke systems as carriers push these ships into more trades and the limited number of ports that can handle them. These may not initially be the 24,000-TEU ships that would be natural to use to upgrade European services( even if it means having fewer services), but there will be a cascading of capacity and thus a desire to deploy bigger ships in more places.
If you are a port or port operator in a region where there are size constraints, there has never been a better time to positively differentiate yourself by upgrading or finding greenfield sites that can accommodate the biggest ships.
The feeling that an arms race in the bigger sizes and a rush for alternative fuels has overtaken purely rational decision making is strong. That is reinforced by looking at the smaller-size ships which have been in very heavy demand, so one might expect strong newbuild ordering.
Alphaliner reported in December that the order book as a percentage of existing capacity for 4,000- to 5,099- TEU ships was 10.4 %, and for 5,100- to 7,499-TEU ships was 7.3 %. This has gone up quite a bit in recent months but is still relatively sane.
If there is a disconnect today with freight markets, it’ s not in the charter market, as is widely advertised, but in the newbuild market.
Jeremy Masters is managing director of Shipping Masters email: jeremy @ shippingmastershk. com
CLASSIFIED
AARQ Association for the Administration of Rice Quotas, Inc. NOTICE OF OPEN TENDER – EU-27
Independent bids are invited for rights to ship U. S.-origin milled rice to the European Union under a tariff-rate quota( TRQ) granted by the EU to the United States.
Bids must be submitted on April 23, 2026 for the July 2026 TRQ Tranche, in which the following quantity is available for the EU-27:
Volume( metric tons)
EU Duty Semi-Milled or Milled Rice 7,153 zero( HTS item 1006.30)
TRQ Certificates will be awarded to the highest bidder( s). Any person or entity incorporated or domiciled in the United States is eligible to bid. The minimum bid quantity is 18 metric tons and the minimum bid price is $ 15 / MT. Performance security( the lesser of $ 50,000 or the total value of the bid) must be submitted with each bid. Potential bidders may obtain the required bid forms and bid instructions from:
AARQ Administrator TRQ Services, LLC 2001 L Street, NW, Suite 500, # 50122 Washington, D. C. 20036 Tel:( 202) 987-2972 E-Mail: aarq @ trqservices. com Website: https:// aarq. net
Note: Potential bidders should consult regulations in the Official Journal of the European Union to determine the applicable tariff rate on semi-milled / milled rice. AARQ disclaims any responsibility for advising potential bidders on applicable tariff rates. Potential bidders should also consult EC regulations relating to testing for unauthorized GMOs.
AARQ Association for the Administration of Rice Quotas, Inc. NOTICE OF OPEN TENDER – UK TRQ
Following the exit of the United Kingdom( UK) from the EU Customs Union on December 31, 2020, independent bids are invited for rights to ship U. S.-origin milled rice to the UK under an allocation to the UK of a tariff-rate quota( TRQ) granted by the EU to the United States.
Bids must be submitted on April 30, 2026 for the July 2026 UK TRQ Tranche, in which the following quantity is available for the UK:
Volume( metric tons) UK Duty Semi-Milled or Milled Rice 3,237 zero( HTS item 1006.30)
TRQ Certificates will be awarded to the highest bidder( s). Any person or entity incorporated or domiciled in the United States is eligible to bid. The minimum bid quantity is 18 metric tons and the minimum bid price is $ 15 / MT. Performance security( the lesser of $ 50,000 or the total value of the bid) must be submitted with each bid. Potential bidders may obtain the required bid forms and bid instructions from:
AARQ Administrator TRQ Services, LLC 2001 L Street, NW, Suite 500, # 50122 Washington, D. C. 20036 Tel:( 202) 987-2972 E-Mail: aarq @ trqservices. com Website: https:// aarq. net
Note: Potential bidders should consult regulations in the UK to determine the applicable tariff rate on semi-milled / milled rice. AARQ disclaims any responsibility for advising potential bidders on applicable tariff rates.
JOC1006 www. joc. com March 2, 2026 | Journal of Commerce 85