One of the ships saw a "staggering" 16% improvement in fuel efficiency — equal to removing the emissions of nearly 5,000 fossil-fuel-driven cars.

Maersk’s transpacific market share, is now 13.1% — slightly lower than the same month in 2023 — while its French competitor has 13.2%.

The vessels will range in size, with the capacity to carry between 9,000 and 17,000 twenty-foot-equivalent units each.

"Port operations must evolve," the USMX said in a December 3 release, responding to a statement from ILA executive vice president Dennis Daggett.

“This is a pivotal moment in our history," said Daggett. "The decisions we make today will determine the future for generations to come."

The de-listing follows a pledge by Panama’s maritime authority in October to penalize vessels sanctioned by the U.S., European Union, U.K. and United Nations.

The bulk carrier, Yi Peng 3, is currently anchored just outside of Denmark’s territorial waters, with vessels from Sweden, Denmark and Germany monitoring it. 

BIMCO says it continues to add to its portfolio of carbon clauses to support the industry, as the shipping industry faces an increase in decarbonization regulations.

November 19 marked a year since Houthi rebels attacked the British-owned Galaxy Leader cargo ship as it moved through the Red Sea, taking its crew hostage.

The Norsepower Rotor Sails use a small amount of electricity to spin cylindrical sails to harness the Magnus effect, an aerodynamic principle that generates thrust from wind.