Maritime

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.

A boost to demand from higher commodity volumes and a reduction in supply owing to IMO 2020 low sulfur fuel regulations are giving a boost to the international dry bulk freight markets, says Hong Kong ship operator Pacific Basin (HKEX: 2343).

Port of Oakland has seen an uptick in volumes this year and is optimistic about remainder of 2019.

VLCC rates have rapidly fallen from over $300,000 per day to around $125,000 per day.

A U.S. Coast Guard investigation in February discovered the Nederland Reefer’s chief engineer had devised a scheme to illegally dump oily bilge into the sea.

September saw China record its lowest monthly export growth to the U.S. since 1996 as the trade war inflicted more damage.

World’s second largest container fleet continues push with ultra-large container ships.

European shippers have joined with leading container line analyst Drewry to bring order to the “who pays what” implementation of IMO low-sulfur fuels.

Although Super Typhoon Hagibis has caused catastrophic floods, mudslides and at least 68 tragic deaths in Japan, FreightWaves understands from local sources that Tokyo’s critical freight infrastructure – seaports and airports – are undamaged. Japan’s wider logistics network is suffering from a miscellany of damage such as flooding.

Maritime carriers are leaving up to US$110 on the table every time they carry a box, according to research from startup MizzenIT. And that means ocean carriers could be missing out on hundreds of millions of dollars a year simply by not charging the right price.

Headlines may proclaim “$300,000 per day” but most crude tankers are not making anything close to that.

Market Voice Darren Prokop writes about automation at ports and the progress – and disruption – that will bring.

Maersk subsidiary looks to fix congestion that had been widely cited in 2018 front-loading.

Asia-Europe demand has been strong for much of the year, but spot rates have tumbled as some lines have cut rates. With demand weakening, carriers are poorly placed ahead of annual contract negotiations, says Drewry.

Freight volumes in and out of Japan’s busiest port, the Port of Tokyo, have declined in the first six months of 2019 compared to the first six months of 2018, new comprehensive data shows.

An influx of new container ships has hiked the average size of vessels deployed on the trans-Pacific and Asia-Europe trades, reports Alphaliner.

Freight forwarder Flexport acquired a startup that develops technology for tracking containerized goods. Burlingame, California-based Crux Systems said its technology “informs supply chain planning by driving actionable insights that can […]

VLCC rates are reaching epic levels in the wake of an attack in the Red Sea on an Iranian Suezmax tanker.

Port of Los Angeles container volumes dipped in September and its executive director called for a negotiated settlement of the U.S.-China trade ware.

The first news led to a spike that pulled back. But prices were higher as the U.S. trading day began.

Crude-tanker rates have now reached levels not seen since before the global financial crisis.

Both canal stats and container transport pricing confirm continued momentum for U.S. East Coast ports.

Georgia Ports Authority is looking to grow roll-on, roll-off cargo even as work continues on salvaging the capsized car carrier Golden Ray.

Asian merchant shipping and major drinks manufacturers are responsible for an increase in the amount of plastic bottles found in the world’s oceans.

What is the most bizarre transportation law case you’ve ever heard of? The story of the demise of the tanker Brilliante Virtuoso may top your list.

Port of Los Angeles approves environmental plan for terminal that accounts for 17% of its container volume.

Houston still the main gateway for resin shippers, but other Southeast ports growing as well.

Maersk expects ample supplies of low-sulfur fuels to be available in most ports, but warns shippers to expect higher costs.

For a window on future demand for U.S. crude oil, look to international markets, as ever-more U.S. volumes head to sea.

New third-party logistics firm to take over yard and warehouse that handles ‘considerable’ freight.

U.S. Federal Maritime Commission Chairman Michael Khouri talks with American Shipper about priority container shipping regulatory issues for fiscal year 2020.

SeaCube Container Leasing has rapidly expanded its refrigerated container fleet and is now the third largest lessor of reefers and largest lessor of gensets.

The chairman of DSV Panalpina says the company will concentrate on bringing Panalpina into the fold for 12-18 months, before its next acquisition, which may be aimed at strengthening its road business.

Drewry expects service levels to be cut by lines if shippers prove unwilling to foot the bill for mandatory low-sulfur fuels.

Break bulk is a shrinking market. Pure-play break bulk operators are being squeezed as governments and seaport operators boost local infrastructure. Meanwhile non pure play competitors simultaneously try to grab market share.

Trucks are competitively priced on East Coast lanes and offer better service than the railroads.

The Motley Fool discovers last-mile logistics. IMO 2020 will impact logistics warehousing footprint, JLL says

VLCC rates are now at or near $100,000 per day, courtesy of U.S. sanctions targeting China’s COSCO.

Break bulk is in a state of change… and experts are forecasting a shrinking of the world fleet and a possible winnowing out of players.

Traxens says the new standard will facilitate growth in smart container usage.

The Baltic Exchange has been unrivaled in its creation of indices for dry freight futures. That may be about to change.

The transfer of production out of China to avoid U.S. tariffs of up to 25% is having a tangible impact on global trade flows.

The consultants Drewry and supply chain software company CyberLogitec say technology could help small and medium shippers by reducing volatile spot rates.