Maritime

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?

Despite its takeover by ocean carrier, Swiss freight forwarder keeping it multi-modal with introduction of rail service from China to Europe.

Eric Johnson is hired as executive director and John-Kaare Aune is named managing director.

President Trump is reportedly considering granting Puerto Rico a 10-year waiver that will allow the island to receive U.S.-origin LNG exports on board foreign-flag vessels.

The committee guides the Transportation secretary on matters relating to marine transportation.

Air assets and a European Maritime Safety Agency satellite team will continue to monitor the area to ensure the long-term absence of oil spills.

Kenny Rocker, EVP of sales and marketing, said the rollout of the company’s Unified Plan 2020 is complete, which helped the Class I railroad overcome first-quarter challenges.

Forty ships detained in 2018 as federal inspectors begin exposing U.S.-flag safety data.

A top executive of the Panama Canal Authority outlines the prospects for LNG, LPG and crude/product tanker transits through the larger locks of the waterway.

Nick Brown, head of marine at classification society Lloyd’s Register, is at the front lines of ocean shipping’s technological evolution. He explains how he sees this transformation playing out.

East Coast Warehouse and the Global Cold Chain Alliance also announce appointments.

The Phoenix Jamnagar will be operated by Phoenix Tankers and primarily will transport crude oil to India.

The agreement to buy the South American companies, which export perishables to the U.S., Europe and Asia, extends the Swiss freight forwarder’s perishables network.

It’s a game of several parts as Drewry Shipping Consultants’ World Container Index indicates that rates are marginally down by 0.3 percent compared to the previous week. But the index is massively up, by 12.8 percent, compared with the same period last year. A flattening market can be perceived as “good news” given there have been a couple of weeks of slump.

Korea’s only remaining container ship line may want to go beyond its slot sharing deal, but Western carriers wary on subsidized shipping.

The companies will increase the number of services on which Hyundai Merchant Marine shares space from one to three.

Chartworld Shipping, Nederland Shipping and the Nederland Reefer chief engineer were charged with falsifying oil records and not reporting a hull breach to the Coast Guard.

The executive director of the Agriculture Transportation Coalition discusses port congestion, demurrage and detention fees, and ongoing China tariffs on agricultural goods.

The White House on Monday announced its intent to end sanction waivers to countries still importing revenue-generating oil from Iran.

Three states and several utilities will study the needs of electric trucks along the I-5 corridor to make long-haul electric trucks a reality. Plus, the future of Cummins, flex fuels, and are the Chinese taking our railway jobs?

The Pacific Merchant Shipping Association and longshoremen oppose the plan by the Oakland Athletics to build a ballpark on Port of Oakland property.

The shipbuilding campaign has the “potential to exceed 100 new LNG carriers over the next decade,” Qatar’s minister of state for energy affairs said.

U.S. unveils new strategy in response to increasing investments by Russia and China.

The San Francisco-based fleet management platform for the trucking industry reportedly has a valuation of $1.2 billion following the latest funding round.

Online retailer ramps up warehousing and ocean freight presence as part of meeting tight delivery window demanded by customers.

The funds will go toward expanding services in Louisiana and Virginia and supporting the development of a new service in New York.

The truck is the first of 10 the companies will deploy as part of the ZANZEFF project to haul cargo received at the ports of Los Angeles and Long Beach.

Jae-hoon Bae also will meet with employees, shippers and the head of the IMO during a visit to Europe less than a month after becoming head of the South Korean […]

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Container ship owner sees good demand balance with better rates on post-panamax vessels.

The Japanese shipping company announced plans to install the system on 21 very large crude oil carriers it operates.

The report said the very large ore carrier, which sank in March 2017 with 22 crew members presumed deceased, suffered “catastrophic structural failure” to the ship’s hull.

European shippers and forwarders help advance standard framework for measuring the impact of logistics on emissions.

Lighter loads through Panama Canal and schedule reliability are two effects hitting ocean freight; ‘We should not underestimate weather.’

Jointly owned Diamond Gas Sakura will transport LNG from Louisiana as part of a long-term time-charter contract.

Australia’s import, export and logistics industries are in dismay at a massively escalating series of surcharges that are being unilaterally charged to truckers and shippers by the nation’s main box terminal operators. There have been hikes in surcharges of hundreds of percentage points. And, in one case, an imposed surcharge was literally increased over a couple of years by 2,372 percent. Industry executives are furious.

There has been a steep drop in the volume of box traffic handled at Hong Kong, one of the world’s busiest box ports. Containerized throughput at Hong Kong took a dive in the first three months of 2019 when compared to the first quarter of 2018, according to preliminary figures from the Hong Kong Marine Department. Box traffic was down, on average, by 10.2 percent in the first quarter of 2019 compared to the first quarter of 2018.

A total of 140 cargo theft incidents were reported — a 22 percent year-over-year decrease — for an estimated total loss of $12.8 million, according to CargoNet.

FMC Commissioner Rebecca Dye provided an update on her agency’s ongoing detention and demurrage investigation.

Venture capital firm Kleiner Perkins led the funding round, which increased the Atlanta-based warehousing and distribution startup’s capital raised to $15 million.

The Dutch shipbuilder said “its financial situation stems from a sustained period of difficulty in a number of maritime sectors and investments it has made in its future.”

Changing distribution patterns could spell trouble for intermodal, report says.

The updated service creates the first direct link between North Vietnam and the West Coast of the U.S. and Canada, ONE said.

The U.S. is proposing $11 billion in tariffs on European Union goods because of allegations that Airbus received that amount of subsidies when it launched the Airbus 380, thereby harming U.S. interests. Read Jesse Cohen’s explanation of the articles proposed for tariffs and what the tariffs might do to the air cargo and maritime industries.

American Waterways Operators elects officers and Heartland Barge Management hires sales and leasing manager.

Accolades also go to Bahri, NYK, Old Dominion Freight Line, Pelican BioThermal, a Landstar agent and the RLS Logistics general manager.

FreightWaves puts Singapore, the world’s second-busiest box port, under the microscope –  examining box throughput, general cargo, bulk oil, non-bulk oil and ship registries.

The acquisition is the German logistics services provider’s sixth since November.

Executive director credits the Florida port’s “prolific diversity” of its cargo base for year-over-year growth.

The Omaha, Neb.-based company’s operating revenue and business volumes both fell by 2 percent.

The acquisition will give Greenbrier two manufacturing facilities in Arkansas and five additional operations that provide a range of railcar components and supplies.

Company is rebranded and key hires are made; freight payment industry veteran is picked up.

A former Chinese airline employee operating out of JFK Airport orchestrated a scheme using passenger flights to deliver packages to military officers in China.

Rolling out of 5G networks in the United Kingdom in late 2019 could prove to be the technology that makes autonomous vehicles possible. Testing of the technology will begin in June 2019.

A reported 60 gallons of oil entered the water, but there was no active discharge of oil from the DeJeanne Maria, the Coast Guard said.

Air cargo market expert Jesse Cohen writes about the ongoing efforts to increase security in air cargo operations. Read about the latest measures and how they impact the movement of freight.

The company also announced plans to invest up to $136 million in automated and semiautomated expansion projects and select redevelopment at its Atlanta campus.