Solid growth in China’s cargo throughput has been revealed in newly published data. No doubt about it – the country’s cargo volumes are growing.
NEXT Trucking is opening a new drayage facility in a bid to speed up truck efficiency at the busiest seaport in the United States. The 18-acre facility, which is about […]
Maersk rolled out a fully online service for customers to book space on a container ship. The new offering, Maersk Spot, provides customers a port-to-port cargo loading guaranteed at a […]
Container shipping faces weak summer demand as trade related uncertainties keep pressure on freight rates. The Freightos Baltic Global Container Index (SONAR: FBX.GLBL) ended June 21 at $1,307 per forty-foot […]
Smoking crystal meth directly led to a fatal crash that killed two truckers; meanwhile, dead kangaroos, speeding, and dodgy crane operators feature in two labor-law hearings in Australia
Maersk (Nasdaq OMX: MAER) will find out how much customers are willing to spend on its ambitious environmental agenda with a carbon-neutral container service. The world’s biggest shipping line is […]
It appears that Chinese retail investors are moving capital out of the country in response to the devaluation of the yuan.
Shanghai Stock Exchange-listed China Merchants Energy Shipping (SSE:601872) is engaging in a new private share placement of up to 4.1 billion Chinese Yuan to fund a fleet renewal program.
Japanese company Inpex (TSE: 16050) has today announced that it has filed a revised plan of development for the US$18-$20 billion Abadi Liquefied Natural Gas Project. The revised plan is […]
Autonomous trains might be fully running in remote Australia, but it will take awhile before those kinds of trains will be rolling down the North American countryside.
Truck-borne freight is the most popular target for thieves, according to a new global study by cargo insurer TT Club and supply chain consultant BSI. Trucks and truckers face a variety of threats including firearm-bearing kidnappers and fake ‘police.’
The FreightWaves Freight Intel Group is producing research culled from FreightWaves SONAR and other sources. Read about its first several research papers and how to learn more.
It was a poorly-received IPO for CSSC Shipping. Institutional and retail take up was weak and its share price plummeted from the offer price.
Market expert Cathy Roberson writes about the growth of pharmaceuticals and life sciences cargo at Hartsfield Jackson Atlanta International Airport and the airport’s agreement with Amerstdam Schipol Airport.
One of Asia’s largest shipbuilders will help develop “digital twins” for ocean vessels, part of an effort to provide better monitoring and performance analytics around ocean shipping. South Korea’s Daewoo […]
FreightWaves’ SONAR chart of the week (June 16, 2019 – June 22, 2019) Chart of the Week: Drewry World Container Index – Shanghai to Los Angeles and Shanghai to New […]
Notorious bridge claims victim; freight road upgrades; truck company director fined after trucker deaths; horror crashes in good driving conditions continue; drayage gets an over-mass exemption.
Donald Broughton explains the harm that tariffs can do to the economies of the United States, the country(ies) that tariffs are imposed on and the global economy.
Iran has denied responsibility for the attacks carried out early yesterday morning on two tankers in the Gulf of Oman, the sea immediately adjacent to the Strait of Hormuz. A spokesman for the Iranian Foreign Ministry slammed the U.S. accusations as “baseless”. Maritime security experts say commercial ships are impossible to defend.
The scale and growth of China’s domestic over-the-road trucking and international ocean container shipping trade has been revealed in new data from the country’s Ministry of Transport.
The Port of Los Angeles saw May container volumes grow at their best year-to-date level since January, even as empty containers still account for most of the growth. To keep […]
A major developer of, and financial investor in, Asia Pacific logistics parks has launched a potential US$1.24 billion initial public offer on the Hong Kong stock exchange.
Walmart has exported its on-time, in-full requirement on the international marketplace. The results are improving but there is a lot of work to do.
The Port of Los Angeles expects cargo volumes to dip in the coming fiscal year due to the fall-off from last year’s front loading of containers and the potential impact […]
A consortium comprising DP World of the United Arab Emirates, the Russian Direct Investment Fund (a sovereign wealth fund), Rosatom and Norilsk Nickel have agreed to look into developing the Russian Northern Sea Route.
Experts say Aussie trucks should be widened a tiny amount… but officials ain’t listening. Also: truck driver funding; fatigue; drugged drivers.
In 2018, international shipping recorded the fewest number of casualties in 100 years, insurer Allianz reports. A disturbing truth about worrisome Wednesdays, and a curious incident involving cocaine-bearing sharks, were also revealed.
Market expert Henry Byers examines the U.S.-Chinese trade war and its impact on imports and the broader economy.
Australia’s border biosecurity system was stretched “close to breaking point” and had “severe impacts on sections of the shipping and exporting industries,” says the Inspector-General of Biosecurity.
Trade growth, demography and land use changes in the city of Melbourne, Australia, have made necessary a shift of freight from truck to rail, according to an analysis by Melissa Horne, Victorian Minister for Ports and Freight.
Market expert writes about how current trade issues between the U.S. and China, the U.S. and Mexico and the U.S. and the EU may disrupt supply chains and cause economic problems.
Market expert Cathy Roberson writes about the decline in global air cargo traffic; the only bright spot is in Latin America. Read why!
Trade war tariffs are hurting the competitiveness U.S. businesses working in China, according to the American Chamber of Commerce in China (AmCham China). Tariff troubles increased over the weekend as the latest round of Chinese tariffs on $60 billion of U.S. goods began on Saturday, June 1.
Flexport hired a former White House trade and economic advisor in a bid to harness research from the digital first forwarder’s datasets and to help customers navigate the shifting sands […]
Airline Garuda Indonesia has been ordered by an Australian court to pay A$19 million (US$13.14 million) in penalties for air cargo price fixing as part of a massive international cartel. Australian penalties of A$132.5 million (US$91.64 million) have so far been levied against 14 airlines.
Deadly crash treated as a potential murder/suicide; Mainfreight reports US$1.93 billion of revenues; druggy truckie gets 14 months; freight costs revealed.
Taiwan-based box-shipping line, Yang Ming, has set up shop in Jakarta, Indonesia, with joint venture partners. The new subsidiary will be known as “PT Yang Ming Shipping Indonesia”.
Beijing’s new dry bulk shipping regulations give the Chinese authorities powers to issue stop/suspend work, to redirect vessels and to prevent entry or exit from ports. There are a variety of monetary penalties for non-compliance.
A second seafarer was yesterday found dead following the collision of two cargo ships in the early hours of Sunday morning.
A crackdown on plastic waste illegally ocean-shipped to Malaysia took a dramatic turn last night. The country’s environment ministry announced that it would be sending 450 metric tons of contaminated plastic waste in 10 maritime shipping containers back to their countries of origin.
DHL, FedEx and UPS have dominated the global express market for years but recently, China’s express providers (including YTO Express, STO Express and SF Express) have been nipping at the […]
A deadly maritime accident has killed several people during a ship repair job in China. Accounts differ but it is clear that either eight or ten people are dead. A further 19 were hospitalized and are believed to be in a serious condition, but stable.
An explosion and fire that tore through a berthed container ship at the weekend caused 133 people to be hospitalized.
Australia’s a big trucking nation, but you wouldn’t know it from the way some road users drive. Also in this week’s Down Under Trucking: carelessness not terrorism; fugitive truck driver; police and regulatory enforcement.
The Chinese Belt and Road Initiative aims to create seamless freight movement between Europe and Asia, but the sustainability aspect of the project is still unclear.
China’s ports have handled just under 4.3 billion tons of cargo between January to April. The country’s main seaports have also handled 82.3 million TEU.
A looming workforce supply gap in the freight forwarding sector has caused the industry to reach out to over one million high school students.
A crew sailing off the coast of Singapore had a close encounter with pirates late last week, according to a new report from ReCAAP, the south east Asian anti-piracy center. […]
U.S. President Donald Trump is pushing ahead on the successor of NAFTA following the end of tariffs on Canadian and Mexican metals.
Chinese shipping giant Cosco (HKEX: 1919) was last weekend given, for free, 45 percent of the equity of ports and shipping operator, Hainan Shipping Holding. Cosco’s not just getting a […]
A five-month drought in Panama has reduced freight carrying capacity of the country’s canal of ocean carriers by nearly one-fifth. It’s also giving an unseasonal boost to shipping rates for […]
Ever wondered where trucks go? Wonder no more. A massive telematics study tells us exactly how and where trucks move. Also: health and safety, daylight robbery, law reform and compliance.
BW LPG, an ocean carrier of crude oil, gas, chemicals, and products of oil, has reported a first quarter 2019 net loss after tax of US$23.5 million. It’s a loss that’s about three times greater than the US$8.4 million loss recorded in the first quarter of 2018.
Chill winds from the Chinese economy have caused Australian freight forwarder Wiseway to downgrade its anticipated China/Australia freight volumes and earnings.
Hyundai Merchant Marine (KSE: 011200) started off 2019 much as it ended 2018, racking up losses. Despite a first quarter gain in volume that boosted revenue, fuel prices and finance […]
Colorful Auckland mayoral candidate John Tamihere has vowed to ban trucks from the city of Auckland during the day and sell the Ports of Auckland if elected.
Among the topics to be taken up by this week’s meeting of ocean shipping’s international regulator will be how the industry can lower its carbon dioxide output. One increasingly talked-about […]
Singapore-headquartered liquefied petroleum gas and petrochemicals ocean carrier, Epic Gas (OB:EPIC-ME) today announced minimal losses of US$300,000 in the first quarter of 2019. That’s an improvement of 89 percent, which represents a U$2.4 million uptick from the losses recorded in the first quarter of 2018.
Yang Ming Marine Transport (TSE: 2609) narrowed its first quarter 2019 loss thanks to higher volumes of container shipments. The Taiwanese liner operator reported first quarter revenue of $1.14 billion, […]
The countdown for bringing Chinese goods into the U.S. ahead of new import duties is now underway. But it’s unclear whether the sequel will match last year’s container crush due […]
Kuwait, Middle East-based logistics provider, Agility, generated consolidated revenues of 378.8 million Kuwaiti Dinar (US$1.25 billion) in the first quarter of 2019, the company reported today. That’s a 1.9 percent increase on the revenues generated in the first quarter of 2018.
Australian integrated logistics provider Qube (ASX:QUB) has acquired Brisbane-based crane-hire provider, mining-related logistics services provider and truck-operator LCR Group for A$135 million (US$94.14 million).
Brave driver rescues trucker from fiery death; hostile takeover; billions for roads; truck sales; pay truckers on time… or else!
Beijing has sworn to institute countermeasures to combat a huge increase in tariffs, from 15 percent to 25 percent, that have been imposed by Washington on $200 billion worth of a wide range of Chinese goods. A set of high-level, last-minute, talks yesterday to postpone or prevent the tariffs failed.
U.S.-based container ship operator Matson (NYSE: MATX) reported first quarter 2019 results that were above analysts’ estimates, thanks to strength in the company’s logistics business. The Honolulu-based Matson reported net […]
Manila, Philippines-based container terminal operator International Container Services International has posted a solid set of first quarter results. Revenues were up. Profits were up. Box lifts were up. The group attributed its good results to operational improvements, lower finance costs and a “ramp up” in contributions by its new ports.
Shipping container maker Singamas Container Holdings (HKEX:716) has announced that it will sell five of its subsidiary companies to Cosco Shipping Financial Holdings for RMB 3.8 billion. That’s about US$565 million.
Australian ports recorded in excess of 1.94 million twenty foot equivalent (TEU) container movements during the first quarter of 2019. But freight forwarders sense a downturn may be about to happen…
Domino’s Pizza has partnered with SingularityNET, to test decentralized AI services in an attempt to automate portions of its delivery operations.
It’s been busy in Australian trucking. A hostile takeover bid has succeeded, subject to shareholder and regulatory approvals. An innovative Aussie manufacturer has invented a new kind of intermodal tanker for dangerous chemicals. This, and more, in Down Under Trucking.
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.
Aside from Lunar New Year slowdown, world’s biggest exporter reports ongoing volume growth despite concerns over trade slowdown.
Utility and telecom plays have been among biggest bets for Australian investment manager, but it’s also selectively added U.S. port assets.
Developing markets offer high growth, but high risk, as dispute between east African nation and Dubai firm forces Chinese ports operator to refinance loan.
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.
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.
One-year old container ship joint venture expects customers to come back with more boxes and pay higher rates in 2019.
It was a truly shocking Easter on Australian roads with an appalling double-fatality in which a truck driver was incinerated in a head-on crash. Elsewhere, a drunk big rig driver faced an Australian court after driving backwards down a motorway and then jack-knifing his double-B into a gas station. Meanwhile, following a two-year study, Australian sleep scientists warned truckers that prolonged eye closure is a sign of drowsiness. And, finally, trucking corporations have been introducing new products, buying out shareholders and attempting hostile takeovers. It’s another week in Down Under Trucking.
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.
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.
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.
Global freight forwarder Bolloré Logistics and productivity software provider WiseTech Global ASX: WTC) have done a deal to roll-out WiseTech’s core software across the forwarder’s global network.
Despite its takeover by ocean carrier, Swiss freight forwarder keeping it multi-modal with introduction of rail service from China to Europe.
Korea’s only remaining container ship line may want to go beyond its slot sharing deal, but Western carriers wary on subsidized shipping.
Online retailer ramps up warehousing and ocean freight presence as part of meeting tight delivery window demanded by customers.
Cathy Morrow Roberson explains what makes Miami International Airport (MIA) special, and what the airport, airlines and air cargo companies are doing at that particular facility to facilitate cargo. Learn more about MIA in this article.
Lighter loads through Panama Canal and schedule reliability are two effects hitting ocean freight; ‘We should not underestimate weather.’
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.
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.
LA caught between straits of labor and capital; group looks for ocean freight’s Esperanto; and digital-first forwarder gets $20m funding.
World’s largest ocean freight forwarder adds money-back guarantee and carbon offset to what is now considered ‘table stakes’ in ocean freight.
Down Under Trucking: a weekly round-up of trucking news from Australia. The country has been struck by a spate of horrible crashes of trucks with multiple trailers have rolled over. On the corporate side, a major trucking-related hostile takeover has broken out. Politicians in Queensland are seeking to modify the Heavy Vehicle National Law and, on the commercial front, truck sales appear to be coming off the boil from last year’s red-hot market.
The grounding of all Boeing 737 MAX aircraft has caused many problems; it has also created an opportunity for freight forwarders. Read a market expert’s take on the situation.
While tariff fight may not repeat itself, other factors that lead to drayage capacity crisis still in play for shippers this year.
Keelung, Taiwan-headquartered ocean container carrier Yang Ming has announced that it signed charter agreements on April 10 for four box ships of 11,000 TEU with ship-owning specialist Shoei Kisen Kaisa of Imabari City, Japan.
When freight rates are terrible, even a slight improvement seems like an uptick. But a terrible market is still a terrible market. Capesize rates have marginally, slightly, improved… but they’re still dreadful. And the rest of the dry bulk shipping markets are doing their best to impersonate a submarine… they’re all steadily sinking. Ship scrapping that removes some excess tonnage may help rate recovery.
