Maritime

Conspiracy involved sale of offshore drill ship to Houston chartering company.

CMA CGM reported solid results for the third quarter of 2019. However, those results were weighed down by the costs of financing its purchase of CEVA Logistics.

Trucking and trade bodies are outraged by the ongoing tactics of container terminal operators to frequently hike already huge fees on trucks. Lobbying of government ministers is underway and even port operators are disappointed at the ongoing tactics of terminal operators.

Port of Los Angeles Executive Gene Seroka cautioned the port’s Board of Harbor Commissioners that even if a trade deal is reached with China, it may take months or years […]

Carl Bentzel will bring nearly 30 years of maritime legislative and policy background to the U.S. Federal Maritime Commission.

SCF Marine Inc.’s SEACOR America’s Marine Highway (AMH) unit has seen its business grow rapidly with the boom in U.S. plastic exports.

Unsurprisingly, listed bulker owners insist fourth-quarter Capesize rate pressure will pass.

Saybrook Capital alleges that additional evidence shows how port and longshore union aimed to derail project.

Freight data confirms that container lines are increasing their flows to the U.S. East Coast at the expense of California ports.

Data reveals how container pricing may have suffered collateral damage from the trade war.

ZIM reported a $5 million profit in the third quarter of 2019, saying it benefited from its cooperation with Maersk and MSC.

Shippers believe container line consortia are anti-competitive and lack transparency.

Cargo rate platform adds “deep link” to Maersk’s booking portal.

The European Commission believes that container shipping lines need consortia to make “operations more financially viable and efficient.”

Higher freight rates are piquing investor interest, bringing ship owners back to the capital markets.

Box-port operator Asian Terminals has seen a massive surge in nine-month revenues and profits but it has also witnessed a downturn in the third quarter of 2019.

Fortune has taken a decidedly downward trajectory for Indonesia-focused dry bulk ocean carrier Seroja, which saw a dramatic decrease in profitability in the third quarter of 2019. But that won’t worry the company – it has just agreed to sell its entire business for $32 million.

Farmers and other shippers in Oregon got some good news this week when the South Korea-based container carrier SM Line announced it will bring weekly container shipping service back to […]

RightShip advocates for safety and sustainability in the maritime industry.

A look back at the colorful history of the transport of beer, wine and spirits via oceangoing tankers.

COSCO Shipping International (Singapore), a logistics-focused arm of COSCO, reports a big hit to its third quarter profit after tax. But the company nonetheless has big regional expansion plans.

Already the largest cold storage warehouse company, Lineage Logistics is reportedly buying Emergent Cold.

What was behind the historic rise and sudden fall in global LNG floating storage?

Marine Money analyst says 2019 “is on track for the lowest amount raised during a cycle — so low that the total capital market proceeds are less than half of the next lowest total from the last 10 years.”

Soren Toft, the former chief operating officer at Maersk will become chief executive officer at Mediterranean Shipping Co.

Japanese mafia are in the firing line after a record 400 kilos of cocaine are found in a container in Japan.

The Port of Brunswick in Georgia is now open to commercial vessel traffic 24 hours a day after salvors have stabilized a car carrier that flipped on its side.

An unreleased study reportedly discussed at IMO’s meeting this week suggests that setting ship engine power limitations would result in negligible CO2 emission reduction.

With Soren Toft, Maersk COO just a week ago, poised to become MSC’s new CEO, FreightWaves examines which carrier rules the waves.

From tiny flaws great economic disasters are born. One such tiny flaw nearly led to an economic disaster in far north Australia. It was only high quality seamanship that averted a months-long salvage at, and blockage of, the Port of Weipa.

Global logistician Agility has reported an increase in its third quarter revenues and a surge in net profit. However, cargo volumes fell. The company boosted its finances through higher yields and a strong contribution from its infrastructure businesses.

After first half surge, the back-end of November is weakening after the last U.S. freight surge.

Vessel group alleges “lucrative cost advantage” over American-flagged ships.

Europol believe Italy’s ‘Ndrangheta mafia is behind the use of Gioia Tauro as a cocaine hub for western Europe.

HMM had an increase in revenue and smaller loss in third quarter when compared to the same 2018 period.

New ship orders are grinding to a halt due to uncertainty over which designs can meet future GHG rules.

The shipping grapevine is abuzz with rumors that the man who was Maersk’s COO until Monday (Nov. 11) could soon be leading MSC.

Focus on profitability over market share bears fruit for Danish container shipping giant.

India’s largest commercial ports operator, Adani Ports, reported a substantial increase in its company and port-segment revenues. Company and port-segment profits have also markedly increased.

ESG investors are shunning shipping stocks, but dividends should bolster total returns.

Danny Wan, just named executive director of the Port of Oakland says the agency needs to plan ahead for the possibility that the economy may slow.

Proposal is part of $1.3 trillion infrastructure plan

Sune Stilling, head of Growth for Maersk, right, said the investment fund is focused on companies that keep the customer — not a billion-dollar valuation — in mind when developing their solutions.

CEO tells FreightWaves the U.S.-China trade war has transformed the trans-Pacific trade and customers are receptive to paying IMO 2020 bills.

Revenues were down, costs were flat, profits were down. It was largely an unhappy first half financial year for Singapore Shipping.

Pan Ocean, a mixed-fleet ocean shipping carrier, reported a double-digit revenue decline but experienced a double digit surge in profits in the third quarter of 2019 when compared to the third quarter in 2018.

Yang Ming Marine Transport Corp. (TWSE:2609) said it had lower revenue and a larger loss in the third quarter of 2019 than in the same period last year. But the […]

WISTA International members take on IMO 2020, alternative fuels and pollution-reduction enforcement at annual meeting.

Hapag-Lloyd says addition of a sixth ship to one of its U.S.-flag transatlantic services will improve reliability.

Maersk, MSC, Hapag-Lloyd and COSCO will be the main market share “losers”, says Alphaliner.

Boston’s freight move thru New York? No suh, because the Hub is best served by its own.

It’s a largely good set of third-quarter results for the Philippines-based but globally operating container terminal operator ICTSI. “Strong financial performance,” says President and Chairman Enrique K. Razon. On a nine-month basis, the growth surge is pronounced.

Advent Intermodal is seeking to increase transparency along the Panama “land bridge” between the coasts.

Risks based on cargo moving through Los Angeles/Long Beach ports

The Cato Institute has published a report that contends the Jones Act hurts, instead of benefiting, the U.S. Merchant Marine.

Ocean shipping terminal operator Westports of Port Klang, Malaysia, has reported a surge in third quarter revenues and a jump in profit before tax. Analysts are… less than impressed.

Evergreen Marine said third quarter operating income was 11 percent higher than in the same 2018 period, but profit from continuing operations plunged.

Reduced estimate for Brazilian iron-ore exports compounds headwinds for dry bulk.

Capacity cuts by lines and higher bunker surcharges as IMO 2020 low sulfur fuels are phased in are fueling box freight rate inflation.

Climate change, electric vehicles, alternative power, terrorism, and regional political conflict are significant risks to Saudi Aramco’s business, according to the company’s initial public offering prospectus.

Singapore stock exchange-listed ship lessor First Ship Lease reported essentially flat revenues for the third quarter of 2019, but it also announced a swing back into profit. A combination of higher revenues and cost cutting delivered the positive result.

The Port of Long Beach and Port of Oakland said exports were up, but imports down when compared to October 2018.

International Longshore and Warehouse Union (ILWU) will seek to overturn a jury verdict that says it owes $93.6 million to the former operator of the Port of Portlands container terminal.

China-to-California box rates are up 16% from October lows, but are still down 43% year-on-year.

Lori Ann LaRocco’s new book chronicles the tariff war and tracks its impact through trade flows.

Growth from last year’s front loading makes for tough comps, as trade war upsets seasonal patterns.

In 2020, Matson expects to reap approximately $30 million in financial benefits from new vessels and other infrastructure investments.

All may not necessarily be as it may first seem in the world of company earnings. Dry bulk, ocean container shipping and logistics company Sinotrans (HKEX: 598) may not have delivered a Halloween shocker even though its third quarter results were splattered in red ink all over its income statement. One long-short equities analyst was very bullish on the company’s stock despite the seemingly-poor results!

Seaspan Corp. says there are attractive opportunities to increase the size of its fleet.

Lena Gothberg uses her podcast to spotlight diversity in the maritime industry.

With profits around the corner, listed shipping companies are reopening the dividend spigots.

Florida’s largest seaport will use federal funds as part of expansion of its largest marine terminal.

Women from around the world come together to push for gender equality in the industry.

Global Ship Lease says it focuses on trade lanes responsible for 70% of global container trade and not the big East-West trades.

U.S. Customs and Border Protection officers found the drugs stuffed in duffel bags inside a container load of scrap aluminum and copper en route to Europe from South America.

Evan Efstathiou has just bought his way into the maritime tech landscape.

COSCO Shipping Energy Transportation (HKEX: 01138; SSE: 600026) has shrugged off U.S. sanctions on subsidiary companies to report a huge jump in revenues and a massive surge in profits.

Ardmore Shipping execs predict the initial IMO 2020 phase will favor more expensive 0.1% MGO.

A federal jury has awarded $93.6 million to ICTSI Oregon, the former operator of the Port of Portland’s Terminal 6, after finding dockworkers engaged in illegal work practices such as work slowdowns and stoppages.

North America has surpassed North Asia (China) as EXPD’s highest revenue region.

Asia-Europe and Asia-U.S. spot freight rates jumped 12-30% last week, but can carriers hold on to the gains?

Danaos expects in 2020 container trade demand growth will outpace supply growth for the first time in almost 10 years.

It’s an income statement of two halves for COSCO Shipping Development, which both leases container ships while also making and leasing ocean shipping boxes. Revenues fell off a cliff. But COSCO Shipping Development was able to protect its bottom line by slashing costs. Profits surged.

With shippers and carriers unable to predict rates or capacity in the spot market from month to month, can a better alternative be developed by new freight capacity marketplaces?

An exclusive interview with Greece’s Ioannis Martinos on what’s next for Signal Ocean.

Transit times of 10-12 days are promised on the new service from DHL Global Forwarding.

Hong Kong Stock Exchange-listed ocean carrier Pacific Basin (HK: 2343) will issue US$175 million (approximately HK$1,371 million) of non-amortizing unsecured convertible bonds to boost its balance sheet while growing and renewing its fleet.

Logistics real estate developer ESR Cayman (HK: 01821) roared into public life on Friday when it floated on the Hong Kong Stock Exchange. It was the second-biggest IPO of the year in Asia.

Saudi Aramco, believed to be the world’s largest integrated oil and gas company, has announced it will undergo an IPO on the Saudi Arabian stock exchange.

truckers hauling construction materials and agricultural products, flyers promoting the protests also have been posted around the ports

New freight indices provide visibility on potential earnings premiums of scrubber-equipped vessels.

Shippers and NVOs urge the U.S. Federal Maritime Commission to implement the interpretive rule, while ocean carriers and marine terminals say it needs further refining.

In a thinly veiled swipe at President Trump’s trade policy, the U.N. says protectionism will result in weaker maritime demand over the next five years.

Container leasing company Textainer said a traditional peak season did not materialize in 2019.

“K” Line has warned the global economic slowdown could lead to a deterioration in transportation demand.

NYK Line, Japan’s largest shipping company had operating profit of $146.7 million, compared with a loss in the same period last year.

Ship owners like Dorian LPG are reaping the benefits of very strong VLGC spot rates.

Mitsui OSK Lines (MOL) recorded a major drop in revenues in the first half of its financial year as container earnings fell off a cliff and the U.S.-China trade war took its toll. But MOL was able to limit damage to operating profits.

Hong Kong-based port operator Cosco Shipping Ports (HKEX: 1199) has announced mixed results for the third quarter of 2019. Revenues were flat and profits were down. But box volumes rose. And analysts are bullish on the stock.

COSCO Shipping Holdings said its third quarter profit more than doubled.