XPO Logistics, Inc. (NYSE:XPO) was prepping late last year for a massive acquisition, one that Chairman and CEO Brad Jacobs said Tuesday would have effectively doubled XPO’s $17 billion a […]
A chief human resources officer is hired and an interim managing director is appointed.
The $562 million transaction will help Singamas shift its business focus to logistics services and the manufacturing and sale of specialized containers.
NYSE-listed Global Ship Lease is reporting improved conditions in the container ship chartering market.
Private equity Wind Point Partners has taken over Kentucky-based A&R Logistics, which plans to continue building resins handling facilities in Charleston and Savannah.
Speakers talked about the negative impact caused by the tariffs during a discussion co-hosted by Tariffs Hurt the Heartland and the Council of the Great Lakes Region.
There is not enough time to front-load shipments if Trump acts later this week.
The Massachusetts Port Authority plans to acquire two additional rubber-tired gantry cranes by year’s end for a total of 16 in operation at Conley Terminal.
Macquarie Infrastructure fund selling facilities to the Singapore-owned terminal operator for an undisclosed price.
Stocks of publicly listed ship owners, particularly in the dry bulk sector, are feeling the fallout of trade tensions.
Toll Global Forwarding has been selected by the Port of Los Angeles to negotiate a lease for a prime warehousing location currently used by NFI’s Cal Cartage unit.
Launching this summer, 360box will introduce a pool of 500 additional 53-foot trailers businesses can reserve for drop-trailer purposes.
The port announced Monday it also set a March record for cargo handled by rail.
Laurent Foloppe, Martin Stoekenbroek and Matthew Harding have new roles.
Implementation of the national agreement, which is retroactive to April 1, is delayed until a supplemental contract with Joint Council 40 is resolved.
Avin International and Nicos I.V. Special Maritime Enterprises were sentenced to pay a $4 million fine for illegally dumping oily bilge in the waters off Houston and Port Arthur.
Public ship owners like Navios Partners saw rates fall due to cuts in Brazilian iron-ore exports.
“Any attempt by the United States to reverse course on IMO 2020 could…potentially backfire on consumers.”
Executives at GasLog Ltd. believe the LNG shipping spot market is set to rebound. Others are not so sure.
Bills in state legislature to limit containerships calling Houston could “crush” economic growth, say International Longshoremen’s Association and USMX.
Connecticut Port Authority partners with wind energy company Ørsted and the electric utility Eversource on $93 million of improvements in New London.
Honors also go to Abdullah Aldubaikhi, Rich Cooper, Robinson carriers, Dayton Freight, DSV, Gebrüder Weiss, IFOY winners, MIQ, Resilience360, TenderEasy and Transporeon.
The new incentive plan is structured so that drivers are rewarded for their longevity with the company in combination with their performance.
H.R. 2396 would unlock the HMTF’s existing $9.3 billion balance and enable the expenditure of about $34 billion over the next decade.
Port commissioners will decide whether to give the Oakland Athletics four years to complete studies and agreements for proposed baseball stadium that industry opposes.
Increased visibility throughout the supply chain could help improve the length of haul from the OEM to the dealership, speakers said Tuesday at the JAXPORT conference.
Government approval has been given for the construction of a $250 million (US$175 million) liquefied natural gas import terminal at Port Kembla, 44 miles to the south-south-west of Sydney, Australia. The country is facing a shortage of gas and record high prices, which is somewhat ironic because Australia is likely the world’s biggest exporter of gas.
The National Association of Manufacturers hopes the pressure to vote on nominees will break years-long failure to restore the Export-Import Bank’s full loan-making authority.
Coyote Logistics Chief Strategy Officer Chris Pickett says shippers can benefit from the sharp drop in spot rates and believes the market still has yet to hit bottom.
Tank barge operator saw huge jump in delay days due to winter weather and one-off events that swept through U.S. waterways.
Ten-year waiver to move U.S. LNG to Puerto Rico is off the table – for now.
According to Seaspan Corporation, the largest U.S.-listed container-ship lessor, liner companies are pulling vessels from service to install scrubbers, which is increasing demand for new charters.
Fourth-largest port in India in possible path of violent cyclone.
Momentum is building to limit the speed of ocean-going vessels to curtail harmful emissions. The debate will focus on how this could impact charter rates, and whether it could have the unintended consequence of creating even more emissions-generating ship capacity.
Henriette Thygesen named chair, Chris Burruss tapped as VP, Paul Dollman appointed non-executive director and Jonathan Zier hired as business development manager.
NYSE-listed Scorpio Tankers has returned to profitability and its scrubber-installation program should position it to take advantage of the looming IMO 2020 rule.
Shippers benefit as transportation rates expected to stay low.
The 14 senators in a letter earlier this week said implementing and enforcing the stricter sulfur standards would “fuel America’s growing energy dominance.”
FMC commissioners told during a meeting Wednesday there is “ample capacity” and freight rates have decreased.
Aside from Lunar New Year slowdown, world’s biggest exporter reports ongoing volume growth despite concerns over trade slowdown.
President Trump was reportedly considering granting Puerto Rico a waiver in the requirement that U.S.-flag vessels be used to transport LNG from the mainland to the island.
Mid-Ship Group agreed to pay $871,837 to settle violations of sanctions involving financial transactions from charter party agreements between IRISL and two of its ships.
After falling rates and months of bad news, the dry bulk shipping community believes it has seen positive signs for the near-term markets. That’s despite some of the benchmark dry bulk seaborne volume and freight rate numbers taking a deep, deep dive. And, on analysis, the dry bulk shipping markets are currently really mixed-up.
Transitioning to a carbon free world could cost billions of dollars, but the price of a zero emissions technology is still considerbaly less than using fossil fuels, which could cost us the Earth.
So far this year, there has been heightened refinery downtime for maintenance and upgrades, but the tide is expected to turn in the second half, to the benefit of product-tanker rates.
When carriers cut ship speeds in the great recession, emissions fell. Now a group of companies says this phenomenon can be used to fight global warming.
Utility and telecom plays have been among biggest bets for Australian investment manager, but it’s also selectively added U.S. port assets.
Gains in international intermodal offset by losses in domestic container and trailer moves.
The conversion to become IMO 2020 compliant is expected to happen in the fourth quarter.
The shipping management platform currently is available in seven countries but is expected to be offered globally by the end of the year.
Graham Westgarth is named CEO, Rob Rose is appointed president and Somer Webb is promoted to chief financial officer.
This year marks the 200th anniversary of the first steamship to sail across the Atlantic.
Long-serving shipping man to replace former energy executive and consultant who led ship manager for less than two years.
Tanker companies like Euronav expect to see financial benefits from impending environmental regulations, which will change the type of fuel burned at sea and could eventually limit how fast ships can go.
Market expert Brian Aoaeh’s article focuses on the current and upcoming maritime industry issues – IMO 2020, global warming, rising sea levels, etc. Read Brian’s take on how the maritime industry is meeting these challenges.
Sharp increase in profit, revenues and volumes reflect the purchase of a majority interest in Orient Overseas (International) Ltd. last summer.
Bosch is working with Powercell to develop a hydrogen fuel stack for vehicles. Plus, housing index has positives for home buyers, JFK starts new phase of air cargo expansion, and trucking company in Denver crash had history of violations.
At the same time Wall Street investors are shunning ship owners, European banks are pulling back on providing debt to ocean shipping. What are the short- and long-term implications for freight markets?
A chief operating officer is hired and board members are elected.
U.S. soybean exports have fallen in the past year in part because of the drop in exports to China due to tariffs and swine fever.
DSV says it had “healthy top-line growth” and expects to close Panalpina acquisition in third quarter of 2019.
Developing markets offer high growth, but high risk, as dispute between east African nation and Dubai firm forces Chinese ports operator to refinance loan.
Deal signed to acquire 100 percent of the Offen Group subsidiary.
“It became clear that we could become a stronger, more competitive organization by joining forces,” Trinity’s Jeff Banning said.
The interoperable messaging solution xTrade is designed to allow organizations to safely share information with suppliers and business partners.
The Shipping Act provides the FMC special oversight of government-controlled common carriers operating in U.S. trades to ensure “just and reasonable” rates.
Box shipping executives may allow themselves a small sigh of relief as the latest freight rates data shows that the recent decline in freight rates appears to have stopped. And, on some routes, it’s even marginally increasing.
Overseas Orient Container Line (OOCL) has sold its Long Beach Container Terminal for US$1.78 billion (HK$13.973 billion) in cash, it was announced today by OOCL’s owner, Overseas Orient International Ltd (OOIL; HKEX:0316). OOIL says that it expects to realize a gain of just under US$1.3 billion from the deal.
Orient Overseas (International) Limited announced the sale for $1.78 billion of Long Beach Container Terminal to a consortium led by Macquarie Infrastructure Partners.
Urbain to leave as CEO June 1, become top aide to new chairman Saade.
Putting export-import documents online may make a difference between container arriving to customer on time or sitting in a warehouse.
Dry bulk shipping faced multiple headwinds in the first quarter, but NYSE-listed Scorpio Bulkers benefited from its smaller ships and its diversification into the product-tanker sector.
Hernán Rincón Lema is stepping down from airline holding company and Mike Stolzman is stepping in at port subsidiary.
Results of NYK, MOL and “K” Line suffer from loss by their joint venture, Ocean Network Express.
Tokyo, Japan-based ocean carrier, Kawasaki Kisen Kaisha http://kline.com/ (TYO:9107) has recorded a fall in revenues of Japanese Yen of 325,293 million down to JPY 836,731 million (US$7.5 billion) for the fiscal year ending March 31, 2019. Several board members have been removed.
Tonya Davis allegedly said individuals had passed driver skills tests when she knew the exams had not been administered.
The event also marked the first berthing of a containership at the new ICAVE terminal.
One-year old container ship joint venture expects customers to come back with more boxes and pay higher rates in 2019.
But because so many containerships are relatively new, the pool of candidates for scrapping is limited.
The memorandum of understanding was signed during the recent Belt and Road Forum in Beijing to further develop links between China and Hungary.
The consensus at a panel in Houston is that marine gasoil will be the first fuel to get a big boost in demand as IMO2020 approaches. That’s not good news if you’re a diesel buyer.
Trans-Pacific volumes and revenue up with OOIL acquisition, but stand-alone results reflect seasonal weakness.
World’s largest operator of marine terminals saw first quarter throughput at its non-China-based assets grow faster than China-based ones.
The port also is looking to speed up a project to widen its main shipping channel.
“Probably all undamaged containers will be on board” when the Hapag-Lloyd-owned ship departs from Freeport, which is expected to occur by early May.
Japanese transport company, Nippon Yusen Kabushiki Kaisha (NYK Line) (JPX:9101) has today reported a loss of approximately US$400 million (Japanese Yen 44.5 billion) for the year ended March 31, 2019. Following the red ink bloodbath, the company has replaced the chairman, president and representative directors.
The final part of the FreightWaves series on the Panama Canal focuses on dry bulk transits. The two trends: US agribulk cargo to Asia is down, Colombian coal to the west coast of South America and Asia is up.
Manufacturers should prepare for increased regional value content for the automobile sector, speakers said during an American Shipper webinar.
Richmond, Va.-based trucking company enters $15 million bid to obtain certain flatbed trailers from bankrupt New England Motor Freight.
USDA’s Animal and Plant Health Inspection Service said the 25 percent reserve fund keeps its quarantine inspections program running during spikes in demand.
Ocean Network Express, the container shipping company owned by NYK, MOL and “K” Line, forecasts a profit in the current fiscal year.
The weekly stop in Vung Tau is expected to continue until early August.
South Korean ocean box shipping company, Hyundai Merchant Marine, and Russian far East intermodal box transport specialist, FESCO, have announced a series of changes to their Russia-China-Korea shipping operations. Rail specialist FESCO has also announced extensive Russia-China rail services.
Also recognized are ATS, J.B. Hunt drivers, Prologis, TOTE Maritime Alaska and 3Gtms.
World’s largest ocean freight forwarder sees volume growth thanks to Asian export markets and its niche plays in pharma and healthcare.
Sluggish demand in the export trades from Asia to Europe has seen carriers blank nine sailings for the month of May 2019, taking out 115,000TEU in capacity, in an effort to bolster rates against slow growth.
CIT Group provides revolving credit line to the feeder ship company and shareholders vote to authorize additional shares.
As GasLog Partners reported its quarterly earnings, its CEO commented on prospects for both spot and long-term charter markets. He optimistically believes current spot weakness will be short-lived, and that rates will be driven higher by the wave of new liquefaction projects coming onstream.
In the second-part of its series on the Panama Canal, FreightWaves interviews a canal authority executive on trends for container-ship transits and expectations for ship size growth in the years ahead.
After languishing for years, tanker stocks are rising in 2019. Investors are seeking to get in early on the belief that the turnaround in rates is nigh. They’ve been wrong before — will their bets pay off this time?
