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.
The maritime sector, which is undergoing profound changes, will be spotlighted at the upcoming FreightWaves LIVE event.
U.S. House green-lights measure to improve big-ship access.
Even with a 15-20% increase in container freight costs from Asia to the U.S., prices would still be far below 2018 rates.
Ocean shipping along the coast of Oman, in the Middle East and throughout the Arabian Sea, is being disrupted by Cyclone Kyarr – the most powerful storm ever in that sea-space. However, local sources advise that shipping through a globally critical oil chokepoint, the Strait of Hormuz, is unaffected.
Hutchison Port Holdings Trust (SGX: NS8U), a Singapore Stock Exchange-listed container terminal operator active in Hong Kong and mainland China, has reported a small decline in unaudited revenues for the nine months to September. That led to a 5% fall in profit after tax.
Hong Kong Stock Exchange-listed ocean container carrier SITC (HKEX: 01308) has reported increases in its unaudited third-quarter results despite a global trade slowdown and the China-U.S. trade war. SITC’s container revenues and volumes have both increased.
CAI International Inc. (NYSE: CAI), a leading container-leasing and logistics company, said it had modest year-over-year growth in revenue from continuing operations in the third quarter but that it had […]
Biesterfeld: “We expect that North American routing guides will continue to reset at lower prices.”
World’s largest shipping line teams up with major customers in test of carbon-neutral fuel.
Floating storage, scrubbers delays and newbuilding unease should continue to squeeze crude-tanker capacity.
If container carriers refrain from adding too much capacity, transpacific freight rates may rise in coming months, says Drewry Shipping Consultants.
CEVA Logistics, the third-party logistics subsidiary purchased by the French shipping giant in April, will cross-sell and share warehousing with Wing.
Of the 200 U.S.-flag shipping companies that were formed after World War I, only one remains in operation today.
Fewer cargoes, lower freight rates, higher fuel costs and the consequences of operating a smaller fleet during a time of a slowdown in world trade has led intra-Asia specialist, Samudera Shipping (SGX: S56 / SAMU.SI), to report a net loss for the third quarter of the year.
Poor navigation and poor “bridge resource management” were the cause of the Maersk container ship, the Leda Maersk, running aground in a New Zealand harbor channel during fair weather.
Growing source of U.S. containerized goods imposes navigation restrictions due to sunken boxship.
Market prognosticators have been saying dry bulk will recover “next year” almost every year for the past decade. Will it finally happen in 2020?
Francis Alvarez, who operated a forwarding service in Houston, faces a maximum of 10 years in prison and a $1 million fine for violating the Sherman Act.
Engines in Australian trucks may have been modified to allow them to break speed limits. Australian police have been reading premises across the country. In other Down Under News: APE eats up AHG; new boss for Orcoda; mobile phone driving surveillance laws; broken bridges; accident black spots; corporate debt.
Offshore energy operations could get competition from foreign ships.
Orient Overseas Container Line (OOCL) said both container volumes and revenue were higher in the third quarter this year than in 2018.
Marine transportation outperforms as barging gets back to normal, but other units struggling.
Global logistics software developer WiseTech (ASX: WTC) has come under renewed attack from investment advisor company J Capital. WiseTech continues to reject all claims of impropriety and asserts J Capital is simply “wrong.”
South Korea-based ocean box shipping line Hyundai Merchant Marine (KRX: 011200) has revealed plans to issue a 660 billion Korean won (US$562.4 million) convertible bond. It’s a bold move for a company that’s already carrying KrW4.1 trillion (US$3.49 billion) of debt. One analyst has described the company as having a “horrible balance sheet”.
The autumn peak season will be over before you know it. Trans-Pacific container rates have yet to budge.
Ocean carrier says the onus in on marine fuel suppliers to scale up production to meet target dates.
The container leasing company Triton International said it had “solid” financial performance in the third quarter despite weak leasing demand since last fall.
Lost in the US-China’s trade war’s impact on imports is the devastating effect on US exports
Top shipping execs reveal the inside story of the recent crude-tanker rate maelstrom.
Shippers will shun container lines that lack transparency or overcharge for low-sulfur fuels.
Container ship lessor says charter rates on larger vessels is improving as supply falls.
Broadford Global has made a mandatory unconditional offer for all the H shares in the dual-listed Dalian Port Co. (HKEX: 2880 and SSE: 601880) of Liaoning Province, China.
Scorpio Bulkers plans to continue to monetize its position in related-party Scorpio Tankers.
Diesel is a sideshow at the Argus Media conference but the impact on it is always in the background.
Aggressive action by Indonesia’s marine police is putting pressure on Southeast Asian pirates and the number of local attacks is falling, the crime-fighting International Maritime Bureau has reported.
Toy maker Hasbro reported lower third-quarter earnings, citing tariffs on Chinese products and higher supply chain costs.
Extension of “Maritime Silk Road” threatens U.S. economic, military standing.
Headlines have highlighted booming VLCC rates, but spot LNG shipping rates have now taken the crown.
The world’s second-largest third-party logistics provider reports sea and land transport Q3 performance gains but confirms air freight market decline.
The Wise Honest illegally transported coal on behalf of the North Korean regime from November 2016 to April 2018.
Freight flows in and out of Japan may again be disrupted owing to the presence of ex-Typhoon Neoguri, located to the south east of Osaka, which is dumping huge amounts of rain onto a waterlogged Japan. Meanwhile, out in the far reaches of the Philippine Sea, near the Guam island group, Typhoon Bualoi is also lining up to threaten Japan.
Containerships should be designed with “fire compartments” to prevent the spread of shipboard fires say marine insurers.
Logistics in Alaska can be both amazing and frustrating. Alaska is the most expansive and diverse logistics laboratory in the United States. Take the largest state in the nation, yet […]
Better fuel prices, capacity and cost management help push up results for worlds largest ocean carrier.
An exclusive Q&A with Carlos Di Mottola, CFO of Milan-listed D’Amico International Shipping.
Nearly all maritime kidnappings and hostage-takings in the nine months to the end of September this year took place in or near the Gulf of Guinea, said global maritime piracy watchdog the International Maritime Bureau (IMB).
The last couple of days took a dramatic turn with U.S. short seller J Capital making explosive allegations that global logistics software behemoth, WiseTech – a A$9 billion (US$6.2 billion) company, has been seriously misleading investors. WiseTech has robustly denied these claims. In other news: CTI Logistics annual results; truck rest stops “desperately needed”.
The Port of Long Beach saw a slide in container volumes arrested in September and hopes to attract more cargo with incentives.
Off-site facility aims to give terminal more room to operate and make chassis moves more fluid.d
Improved shipping stock prices and heightened time pressure on private equity ship owners should spur more consolidation.
Terminal operator joins TradeLens as it looks to align with ocean carriers and provide better box tracking.
French calls for mandatory slow steaming continue, but the introduction of low-sulfur bunkers could see container lines accelerate services as fuel markets are played for competitive advantage.
A wide-ranging roundtable discussion on the implementation of precision railroading will highlight FreightWaves Radio on SiriusXM Road Dog Trucking the weekend of Oct. 19-20. The show will bring together two […]
Japan’s freight industry is set for a downturn on the back of declining economies in the U.S., China and the Eurozone, new research reveals.
The car carrier Golden Ray, which ran aground and capsized while it was leaving the Port of Brunswick, Georgia, on Sept. 8, will be cut up in place and removed.
Maryland congressman was staunch supporter of the Jones Act and U.S. flag shipping.
Could new tariffs derail solid rate performance in the trans-Atlantic trade?
Industry veteran picked to head one of the largest U.S. East Coast terminals, which is undergoing upgrade.
