Cape-size vessel time charter averages have soared this year to $44,700 daily as of December 3, according to MID-SHIP Group. Panamax and dry bulk have shown a steady uptick through the week ending December 10 propelling to new highs on weekly levels. Strong values were registered in the previous week ending. Compass Maritime data validated these increases in time charter rates on several key categories.
Two big ship operators, Maersk Group and CMA CGM, have revealed plans to once again make Suez Canal transits starting in December 2025, a sign of tentative recovery based on improvements in Red Sea security resulting from a Gaza ceasefire agreement and the resumption of the Sharm El-Sheikh peace initiatives. Trial transits by large vessels indicate carrier confidence that Suez Canal operations will be back to normal, although it will take months for full re-normalization.
Container shipping seemed to enter December in fairly rude health, having started the month with Suez Canal transits being restarted under the leadership of Maersk and CMA CGM, perhaps bringing much-needed stability to the over-heated Asia-Europe lanes, although some short-term volatility might remain. Drewry said its World Container Index rose on December 11 by another 2% to $1957 per 40ft container despite US import volumes continuing to show decline and the completed Houthi attacks in Israel-Jordan suspected by some of relieving some rate pressure; on top of that Black Sea risks and the EU ETS surcharges added even more confusion.
In the past week, Ukraine has attacked several Russian-linked tankers with sea drones as Russian strikes hit a Turkish-flagged ship carrying sunflower oil. Incidents with vessels Dashan, Midvolga-2, VIVA and others have led Besiktas Shipping [to] suspend all Russia-bound voyages and push up insurance premiums with Ankara warning of further attacks to come.
Last week saw everything from high end carrier deployments in the Caribbean to ballistic missile tests in Asia: US operations near Venezuela, Indian nuclear submarine progress, Pakistani anti ship ballistic tests and Iranian frigate recommissioning all flagged the rapidly changing maritime security environment that shipbuilders, weapons suppliers and regional force posture have to positively operate in.
In its 2025 Carbon Market Report, the European Commission states that maritime transport has been successfully integrated into the EU ETS, having achieved more than 99% compliance for emissions associated with 2024. This, in turn, came despite a fall in power sector emissions. Meanwhile, in a setback, it has delayed the adoption of its Net Zero Framework for the shipping industry till 2026, with no consensus reached during MEPC sessions. In the meantime, industry has moved forward with investments in dual fuel methanol vessels and battery propulsion to decarbonise the industry.
Equinor Energy AS was granted drilling permits by the Norwegian Offshore Directorate to drill wellbores 7220/7-5 and 35/11-32 S in production licences 532 and 090 HS respectively. This recognition came in light of the explorer’s work on the Norway continental shelf amid continued reporting of hydrocarbon discoveries and production.
Over the last week, maritime technology developments highlight decarbonisation, digitalisation and autonomous operations. Lloyds Register and partners open global innovation centre for future ship technologies; NAPA gathers Japanese maritime stakeholders for AI-powered design; Shipbuilding knowledge transfer AI platform announced; and, Kraken Robotics presents innovative integration of unmanned mine countermeasure systems for NATO navies.
Port operations across the world were severely disrupted from 5-11 December 2025 by weather-related suspensions in South Africa, protests in Durban, flooding in Indonesia and congestion in Tanzania. Average vessel waiting times at some effected facilities, classed in the regional heavily disrupted portfolio as having been out of operation for 3 days or more due to labour shortages, maintenance needs or regional unrest, exceeded four days.
From December 11-13, 2025, the United States ramped up its campaign against the global shadow fleet by seizing the tanker Skipper off Venezuela with commando raids, while Ukraine and the EU keep up the pressure against dark shipping associated with Russia. The assaults highlighted deteriorating legal, operational and market conditions for owners looking to protect vessels involved in shadowy oil trades.
On December 10-11, 2025, the U.S. Coast Guard seized shadow fleet tanker Skipper just off the Venezuelan coast to disrupt a multi-year, sanctions evasion operation moving illicit oil for Iran and Venezuela. This highlights continuing efforts against shadow fleets funding sanctioned regimes and the focus on Russia's shadow fleet.
In past week the impress of bulker news has been writ with the growth of vessel numbers, the lowering of ordering and accenting of the safety and security, say analysts. Less scrapping, the dwindling out now of newbuild contracts and the casualty findings of INTERCARGO as owners try to find the right touches for altering mix and risk and so for 2025 and beyond.
From December 8-10, 2025, the Suez Canal scene was defined by Maersk and CMA CGM’s confirmed plans for next large scale Suez Canal transits commencing December 2025, and its highlighted transit by gigantic floating repair dockGREEN DOCK 3 earlier in the week - an indicator of enhanced protection, growing confidence, and expanding capacity along the important artery.
A Hong Kong flagged container ship faced an explosion and fire while transiting northbound in the Red Sea this week, and the crew reportedly abandoned ship leaving it adrift off Yemen. “The incident underscores lingering perils for both security and environmental protections for container shipping in this corridor—and amidst the industry's attempts to gradually restore Suez routings. “The ASL Bauhinia experienced an explosion and resultant fire that caused a floater to have to abandon ship. However, there is no indication of the root of this incident or confirmation of vessel tracking,” commented one container shipping risk expert.
Shipbuilding industry achieved a number of impressive wins during the otherwise quiet newbuilding week. Cadeler took delivery of their latest wind installation vessel from Korea; QatarEnergy named large LNG carriers at a major Korean yard; Fincantieri s revised US Navy frigate deal robbed their order book of a significant chunk of naval work; the raft of offshore, tanker, hybrid icebreaker projects across Europe and North America.
Between 6-8 December 2025, the Suez Canal’s slow recovery appeared to be gathering pace as CMA CGM said it would commence a full loop of its container service via Suez, while Suez Canal Authority showcased its tricky transit of floating dock GREEN DOCK 3. However, officials were still reporting lower volumes and revenues. Analysts suggested a full scale rerouting from Cape route is still months away.
Recent months have‚ heralded‚ a “sea change” in the mariner education sector with the introduction of digital assessment platforms, changes in simulator standards and the need to comply with new competencies needed for alternative fuels. Trends reported on include the UK’s MCA introducing trainee assessments on digital, simulators, DNV revising simulator standards and further changes in the corporate landscape aiming to increase the “quality of training globally."
Pharos Offshore Group Ltd has bolstered its subsea trenching capability with the addition of the UTV620 jet trencher (formerly the CT1) from SMD as it seeks to capitalise on growing demand across offshore wind, telecoms and energy markets. "This acquisition forms part of our ambitious growth plans for Pharos, and we see this as a necessary step to deliver that growth," said Pharos’ management. "Pharos' existing trenching and seabed intervention assets are complementary to this initiative. This acquisition is critical as we look to scale up our subsea trenching capabilities within these markets as Pharos deploys its first UTV620 under our banner by December 2025.”
In the past month, autonomous surface vessel markets have seen record transatlantic crossings, an important U.S. Navy contract award, and large private investments into new production capacity - demonstrating how uncrewed surface platforms are warding off the experimental seas, into operational and commercial use too.
SubC Imaging announced its exclusive global partnership with STR and a new product launch with the Rayfin Uplink camera in November 2025. The STR partnership provides advanced optical technology for inspecting offshore infrastructure. The Rayfin Uplink camera offers HD and 4K imaging to legacy ROV Fleets without requiring significant infrastructure changes.