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.
The introduction of new low-sulfur fuels, bearish demand and increased blanked sailings will bring more volatility to box markets in the coming months, says MSI.
“Items that likely would have been forfeited, slated for auction or destroyed as part of a final disposition are now going to help those in need,” CBP’s Miami International Airport port director said.
Dredging could begin in late 2020 after port finishes shoreside upgrades.
Crude tanker rates continue to surge, driven by geopolitical tensions. Meanwhile, container rates remain weak.
Energy markets appear to believe that capacity constraints will raise diesel prices next year.
From Oct. 1 new low-sulfur fuel charges are being levied by some container lines with more to follow through Q4. Use of the fuels is not mandatory until January 1, 2020.
U.S. sanctions targeting Iranian crude aboard Chinese ships ensnare Canadian-headquartered, New York-listed owner of Bahamas-flagged vessels carrying Russian cargoes via Arctic Sea.
Export and import volumes falling well below earlier estimates as economy slows and trade tensions rise.
The World Shipping Council considers next steps after the U.S. Federal Maritime Commission on September 26 denied a part of its petition calling for the elimination of service contract filing.
Brandon Fried, executive director of the Airforwarders Association, believes U.S. Customs and Border Protection must step up engagement with his industry to boost its participation.
Japanese shipping giant NYK has taken a big step into the future as it has revealed the successful trial of a “Maritime Autonomous Surface Ship”, which it claims as a world-first.
Rod Sims, the chairman of the Australian Competition and Consumer Commission, has barked at the many monopolists inhabiting Australia, including the world’s biggest coal export port, the Port of Newcastle.
U.S. sanctions targeting a subsidiary of China’s COSCO Shipping could have far-reaching consequences.
Calls allegations she used her position to benefit family’s shipping business “false”.
The company is following through on a pledge to acquire 1,000 branded intermodal containers by the end of 2020.
The system of internal waterways vital to the nation’s shipment of agricultural commodities is rapidly diminishing in its capabilities to handle bulk shipping.
Hong Kong-based 300cubits is suspending its platform after it failed to generate sustained interest within the maritime logistics space due to issues with interoperability and government regulations.
For 235 years China and the U.S. have sought out each other’s markets by utilizing their fleets of merchant ships.
Seventh busiest North American container port looks to add more infrastructure to handle larger ships.
Northern Asia is again in the cross-hairs of an extreme weather event as Typhoon Mitag bears down on some of the busiest box ports in the world.
A massive explosion aboard a chemical tanker blew a fireball and mushroom cloud into the sky over the weekend at the Port of Ulsan, South Korea. Local reports indicate that about 18 people were injured primarily from burns and smoke inhalation. One ship has likely been rendered inoperable and another has sustained heavy damage.
Australian logistics continues to be dangerous for workers: a man was tragically crushed to death last week. In corporate Australia, companies are winning contracts. Meanwhile, trucks might get bigger in Australia, following an official recommendation.
Air and ground express firm DHL Express announced September 27 a 5.9% general rate increase on shipments moving to and from the U.S., effective January 1, 2020. The increases are […]
As California tightens trucking emissions, natural gas seen as most viable in market currently.
Ben Thrower writes about the coming IMO 2020 regulations and its impact on the shipping industry.
The U.S. Federal Maritime Commission does not expect easy answers to the question of how to fairly assess demurrage and detention when Customs and Border Protection holds containers.
The Treasury Department’s Office of Foreign Assets Control identified Moscow-based Maritime Assistance LLC as the head of a “sanctions evasion scheme” to deliver jet fuel to Syria.
U.S. trucking operators, heed this warning from Asia. Maritime experts say that after the IMO 2020 deadline, fuel availability will be uncertain, scrubbers won’t work, stockpiles will “evaporate” and fuel prices will “go through the roof”.
The Federal Maritime Commission approves the ocean container carrier organization’s petition to eliminate publication of essential terms but retains the requirement to file the actual service contracts.
New regulations are expected to affect around 60,000 ships, requiring them to reduce their sulfur emissions by more than 80%.
Small tariff increase fails to excite demand as rates reach 2-year lows.
The U.S. Office of Foreign Assets Control said the sanctions do not apply to parent company COSCO Shipping Corp. and other affiliates not involved in the transport of Iranian oil.
The start of the box shipping slack season commences next week when Chinese factories close for the Golden Week holiday. Further spot rate losses are predicted by Alphaliner.
Trade lanes will come to a halt if the U.K. exits the EU on October. 31, believes the Secretary-General of the European Shippers Council.
Technology is posed to assist the LTL shipping sector and in some cases, already has.
Four ocean shipping firms and four tankers are added to the Office of Foreign Assets Control’s Specially Designated Nationals List for their roles in supporting Maduro regime.
The new platform focuses on collaboration, workflow automation, and allows users to define business priorities.
Shipping equities have suffered through a rough couple of years, but hope persists that market capitalizations and trading volumes can be resuscitated.
Countries around the world are aligning their corporate insolvency regimes with the U.S. system. Lawyers say alignment will benefit the international ocean shipping industry.
At 400 meters in length, the CMA CGM Jacques Saade has capacity for over 23,000 containers.
Port of Long Beach is offering incentive payments to ocean carriers in an effort to stabilize declining cargo volumes.
The U.S. Department of Agriculture agency looks forward to receiving import documentation through Customs and Border Protection’s International Trade Data System.
The shipping giant has teamed up with JDA to boost warehouse and supply chain visibility
Container ships are setting new records, but for all the wrong reasons, as the vessels become an increasingly popular way to smuggle drugs. As FreightWaves’ Mike King reported, the Maersk […]
Wind technology may be a solution for rail industry.
Getting to Zero Coalition, which includes Maersk Line, calls for “commercially viable zero-emission vessels” to be deployed on deep sea trade by 2030.
The number of containers is a better bellwether of global trade than the number of container ships.
Team of rivals? The competing ports of Los Angeles and Long Beach are looking at additional ways to cooperate for their mutual benefit.
The U.S. Federal Maritime Commission (FMC) issued a proposed rule to promote “just and reasonable” demurrage and detention charges.
The $42.3 million bust is the latest in a string of global maritime drug seizures at sea and in ports.
Forwarder outlines pathway to carbon neutral future as climate change takes on new urgency.
Capital-market sentiment is so bad in New York that ship owners may end up raising more money in Oslo this year.
France, Germany float proposal that would increase USPS charges for handling foreign mail, keep US in UPU
The U.S. Federal Maritime Commission set the new comment deadline for its notice of proposed interpretive rule to address demurrage and detention practices to Oct. 31.
BIMCO says there are “several indications” that goods are being shipped from the Far East to Europe and then transshipped to the U.S. East Coast to avoid tariffs.
Despite sea change in business model, carriers and drivers may want to wait for more clarity.
Academics look at the trade imbalance between the United States and China and weigh in on possible fixes.
FIATA warns that higher air, ocean and trucking fuels costs will be passed directly on to customers.
