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Using VesselsValue data, George Delaney, Cargo Analyst, has highlighted the various factors that influenced the Newbuild market of 2021, including movement restrictions during lockdown, geopolitical uncertainty and the ongoing shift towards greener shipping.

Read the statement of Mr. Kitach Lim for the war in Ukraine and its impact in Shipping

The outbreak of war in Eastern Ukraine has raised fears about the impact of further sanctions on global energy markets, coupled with the UK Prime Minister's announcement today of "a massive package of economic sanctions" to come. 

IMO Secretary-General Kitack Lim said: 

All major trading economies saw imports and exports rise above pre-pandemic levels in the fourth quarter of 2021, with trade in goods increasing more strongly in the developing world than in developed countries.

ABB announced that its Turbocharging division (PA), a global leader in heavy duty turbocharging for diesel and gas engines, has unveiled its new brand name “Accelleron”, a compound word of: Access – Accelerate – Excel – on and on, with a bold new color of bright purple representing a powerful, inspirational, and noble brand.

RINA has announced the Approval in Principle (AiP) of Swedish designer FKAB Marine Design’s hydrogen powered MR Tanker, the first AiP of a design using currently viable technology and fuels that achieves IMO 2050 targets, according to a press release of RINA.

Posidonia 2022 will be held this summer from June 6-10, with the 27th edition of the world’s most prestigious shipping event gearing up to welcome the international maritime community back to its Athens Metropolitan Expo venue, following the pandemic-induced disruption of the 2020 event.