Quarterly net losses could be around the corner for container lines, but EBITDA will stay high even if carriers dip into the red.
The Georgia Ports Authority reported its second-busiest February ever.
Freight reservation aggregator Freightos issued its first earnings report as a public company. Reducing losses continues to be a challenge in a difficult economy.
Shipping line Zim could face net losses in the quarters ahead, yet it has a hefty cash cushion to soften the blow.
With virtually no new ships on order and demand strengthening, the tanker business seems poised for a bull run.
A CERAWeek panel on the shipping industry complying with IMO 2050 focused on hydrogen but in an undetermined form.
U.S. businesses overshot in 2022, importing way more than they needed. The hangover is in full swing, depressing 2023 imports.
Shipping line NYK says operating Nippon Cargo Airlines is too expensive and plans to sell it to another Japanese carrier.
Supply chain issues are in the rearview mirror for Fed inflation policy, but for importers, there’s still room for improvement.
Container lines are unable to prop up rates because they haven’t culled enough capacity to compensate for weak demand.
This week in Borderlands: Houston export terminal lets Temco capitalize on grain demand; $10M FAST lanes completed at World Trade Bridge; Spearpoint Logistics to open distribution hub in Texas; and Port Houston’s terminal container yards receive upgrade.
Shipping lines like Hapag-Lloyd have suffered sharp rate falls from the peak, but they’re nowhere near financial distress.
Kuehne + Nagel had a highly profitable year in 2022 despite macroeconomic headwinds, but results fell considerably in the fourth quarter along with transport demand.
Charter rates are far below the peak but higher than pre-COVID as liners continue to sign new container-ship leases.
The Port of Virginia says it’s nearly done with its channel deepening project, which will enable the port to allow for two-way traffic of ultra-large container vessels.
Despite lower demand for transportation, repealing the ocean carriers’ antitrust immunity is still in play on Capitol Hill.
In-transit visibility options have skyrocketed over the past several years, making it easier than ever to track a shipment’s en route movements. The same cannot be said, however, for terminal visibility.
Larger crude tankers are moving more U.S. exports on shorter voyages to Europe as long-haul volumes to China stagnate.
After a year of sanctions and “self sanctions,” shipping cargoes caught in the crossfire continue to find their way to buyers.
Last year’s peak retail season stands apart from previous years in that there wasn’t much of a “peak” at all.
Cargo flow remained constant at ports in Houston and Corpus Christi, Texas, but slowed slightly in New Orleans.
New Alphaliner data highlights the enormity of new container shipping capacity that’s poised for delivery.
Almost eight months without a union contract, container terminals and their workers are making customers nervous and risk losing business permanently, Global Supply Chain Week panelists warn.
Two container shipping experts give their take on how the hangover after the pandemic boom could play out.
Port expert Walter Kemmsies discussed the distortions in trade and demand for goods and services created by the pandemic during FreightWaves’ Global Supply Chain Week.
Expeditors suffered a significant decline in fourth-quarter earnings as the air and ocean freight markets dropped sharply.
This week, FreightWaves will host Global Supply Chain Week, a three-day virtual experience featuring dozens of leaders in global trade.
The Baltic Dry Index has fallen 91% since October 2021 to one of its lowest levels ever, yet shipowners remain confident.
An upcoming supply chain legislation package will include curbs on Chinese influence over global shipping.
More than 43,500 people in Turkey and Syria have died as a result of the Feb. 6 earthquake, which the United Nations is calling a “once-in-a-generation disaster.”
Los Angeles continues to face a double whammy of sinking demand and fears over the port labor contract that expired in July.
The Georgia Ports Authority said a 16% drop in imports year over year “was fueled in part by reduced orders in retail and manufacturing.”
APM Terminals Mobile has begun a $60 million rail expansion project at the Port of Mobile, Alabama.
The recognition by the Maritime Association of the Port of New York and New Jersey “is reserved for those who have made a lasting difference in our industry and helped advance all aspects of the global transportation industry.”
HMM acknowledged that “freight rates in most key trade lanes have been under downward pressure since H1 2022.”
Ocean carrier Zim will increase the frequency and size of ships used for its e-commerce Baltimore Express service.
Executive Director Mario Cordero said he is optimistic the Port of Long Beach will recapture market share.
This week in Borderlands: The Port of Corpus Christi finishes 2022 with a new tonnage record; Emergent Cold Latin America acquires Mexico-based Qualianz; J&J Snack Foods is opening a major logistics hub in Dallas; and CBP seizes more than $5 million worth of meth hidden in a shipment of radishes.
Ocean carrier revenues fell sharply in the fourth quarter versus the third and continued sinking in January.
Sanctions have split the world’s tanker fleet in two. On one side, those that follow Western rules; on the other, those that don’t.
After a bounce in January, containerized imports could drop this month to the lowest level since May 2020.
Ocean carrier Maersk sees a rough second half of the year, when remaining support from contract rates “will disappear.”
The reversion in spot rates is pulling down contract rates, with a significantly delayed effect on ocean carrier earnings.
The tanker industry has a storied history of corporate showdowns. The latest, a three-way tussle involving Euronav, looks far from over.
The day after C.H. Robinson announced disappointing fourth-quarter earnings, the analyst community showed little optimism for the 3PL leader’s near-term future.
GoFreight, a startup freight shipping platform for small and midsized freight forwarders, recently raised $23 million in a Series A round.
Interim CEO Anderson says cost savings target is $150 million by the end of the year; Global Forwarding drags down Q4 earnings.
The 2M partnership between MSC and Maersk — which is breaking up — is the smallest of the three alliances. The Ocean Alliance is much larger.
ONE’s profit dropped by 50% quarter over quarter to $2.76 billion.
German ocean shipping company Hapag-Lloyd said its earnings before interest, taxes, depreciation and amortization jumped by $7.6 billion year over year.
Container shipping rates from Europe to the U.S. are finally falling, but they’re still exceptionally high.
Russian crude restrictions are having the predicted effect on tanker trades, soaking up more vessel capacity as sailing distance lengthens.
Speculation is swirling on how the end of a global container shipping alliance will affect ocean carriers and cargo shippers.
“Terminal and infrastructure investments are a crucial element of our strategic agenda and India is one of our key growth markets,” Hapag-Lloyd CEO Rolf Habben Jansen said.
1994: Those involved in response to the 600,000-gallon spill reflect on their efforts.
Shipping services around the globe will be reconfigured after the top two carriers end their vessel-sharing agreement.
“We are proud to be part of this first-in-history interoperability launch between eBOL platforms,” said CargoX founder and CEO Stefan Kukman.
Steel, crude oil and refrigerated shipments rose as ports in Texas, Louisiana and Alabama recorded increased freight volumes in 2022.
Are falling commodity shipping spot rates the result of normal seasonality or a symptom of global economic malaise?
White House economic adviser Brian Deese points to supply chain improvements while new pressures loom overseas.
American imports remain a tale of two coasts, with continued strength in container volumes headed to Atlantic ports.
The 9,133,657 twenty-foot equivalent units the Port of Long Beach handled in 2022 were only 2.7% off the record-setting 2021.
South Carolina Ports moved nearly 2.8 million TEUs in 2022, the most in the state’s history.
Annual volumes at the Nova Scotia port exceeded 600,000 twenty-foot equivalent units for the first time in its history.
RoadOne IntermodaLogistics has acquired The Transporter Inc., an intermodal service provider with facilities in Houston, Dallas and Laredo, Texas.
2023 was a banner year for the Port of Virginia, with annual volumes higher year over year as more traffic went to East Coast ports.
“It was a challenging year, but collaborative effort across Georgia’s supply chain ensured cargo movement remained fluid,” Executive Director Griff Lynch said.
FTR Transportation Intelligence expects a competitive truck market and port activity shift to put pressure on rail intermodal in 2023.
The railroads must work with other supply chain stakeholders and even consider sharing infrastructure in order to maintain an integral role within the broader freight transportation network, experts said at the Transportation Research Board’s annual meeting.
The biggest container ships sailing on the oceans can carry more than 24,000 TEUs and are as tall as the Empire State Building.
Legislation aimed at “fixing the supply chain” would allow drivers under age 21 to haul freight to and from ports.
Marine fuel rules have become a key factor in diesel prices, but a new set of regulations may actually push downward on the market.
A first-ever strategy aimed specifically at decarbonizing transportation encourages maritime and rail over highway freight.
Imports continue to decline and are close to where they were before COVID-19, but the coastal mix is very different.
Sanctions on Russian crude exports have yet to boost tanker rates. Some question whether sanctions on Russian diesel will either.
The East and Gulf coasts combined have overtaken the West Coast in port market share, but there are limitations the East needs to deal with, said panelists at a meeting of the Transportation Research Board.
Remaining queues of waiting ships are dwindling, another sign that supply chain pressure is winding down.
Port Houston plans to begin implementing fees for long-dwell containers beginning Feb. 1.
The top 10 liner operators hiked aggregate capacity by 13% in 2000-22 and continue to control 85% of the global fleet.
As cars gained popularity, ships were converted and built specifically for transporting vehicles overseas.
The predicted boost to tanker rates from Russian crude disruptions has yet to materialize. Instead, rates have declined.
Just as the pandemic wound down, another market-altering event for shipping — the Ukraine-Russia war — ramped up.
Container shipping lines are gradually getting their services back on schedule, but they still have a long way to go.
Trans-Pacific spot rates fell first. Trans-Atlantic spot rates and Asia-U.S. contract rates look like they’re next in line.
Backers of a shipping regulation that begins Jan. 1 believe it will reduce carbon emissions. Critics warn it could backfire and increase them.
Over the past five years, Port X Logistics has grown from a startup to a major player in the drayage, transloading and trucking worlds. This level of growth — especially in the midst of a pandemic — has required serious planning, hard work and commitment.
By the start of the 1900s, about 40 U.S.-flag ships were operated by the country’s lumber titans, proving to the industry at the time that marine transport was more efficient than rail.
Auto imports, crude oil and petroleum shipments rose as ports in Houston, Corpus Christi and New Orleans recorded mixed freight volumes in November.
The spending bill to keep the federal government running through fiscal 2023 includes updated measures for trucking and maritime sectors.
The U.S. could seek forfeiture of the MSC Gayane, a large ship involved in an infamous smuggling operation, says Bloomberg Businessweek.
Foreign-flagged vessels working in the U.S. offshore energy sector would face new restrictions under a proposal before Congress.
Containerized imports to the ports of Los Angeles and Long Beach have now fallen well below pre-COVID levels.
The Port of New Orleans has received $800 million from two major trade operators toward a planned $1.8 billion container facility.
The Georgia Ports Authority last month handled 464,883 twenty-foot equivalent units, a decline of 6.2% from the 494,699 TEUs moved in November 2021.
November saw another double-digit drop in America’s containerized imports, driven by sinking volumes from Asia.
Shipping giant Maersk changes leadership as it transitions from a period of massive profits to one of challenging market conditions.
AskWaves looks at GAO’s warning that the U.S. needs to step up capabilities and oversight in the Arctic region as emerging shipping routes gain steam.
Faster easing of China’s COVID restrictions could provide eventual support for container and dry bulk markets and a more immediate boost for tankers.
The pilot of the Ever Forward could face civil charges as a result of the vessel being stuck in Maryland’s Chesapeake Bay for more than a month.
GCT will sell its terminal operations in Staten Island, New York, and Bayonne, New Jersey, to shipping giant CMA CGM.
