Shipping

One-way ship and two-way barge traffic was restored Sunday in the wake of the collision that spilled about 9,000 barrels of gasoline blend stock into the waterway.

Reducing greenhouse gases is a key agenda item as the Marine Environment Protection Committee meets this week in London.

The purchase has an up-front consideration of $21 million with a maximum potential performance-based earn-out of $9 million.

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).

Shipping’s ‘trade war’ equation is not measured in tons at sea, it’s measured in tons times miles at sea.

South Florida market continues to attract a steady flow of newcomers aiming to get their piece of the freight.

Inflation surprise is one of the biggest risks to economic growth for the remainder of the year, FTR senior economist Bill Witte said Thursday.

Awards also go to Crowley, James, Mountevans, Cloud Logistics, Fleet Advantage, Gebrüder Weiss, IAPH honorees, Indiana port, The Andersons and Werner.

The purchase of the TMS implementation and integration services provider is the Chicago-based 3PL’s third acquisition of 2019.

Ports America, Ceres and SSA Marine plan a joint venture in Charleston and Savannah, while TOTE subsidiary and Luis Ayala Colon want to partner in San Juan.

The FMC chair says if freight rates don’t improve to recoup carriers’ cost of capital, the industry “points toward more consolidations, mergers and acquisitions.”

Loaded imports were mostly flat and loaded exports decreased, but empty containers grew by double-digit percentages at both ports last month.

Seaboard Marine also will launch additional services in June linking Savannah to South America, Central America and the Caribbean.

Meeting the IMO 2020 sulfur regulation should not be a problem for owners when the regulation enters into force in January 2020 but making certain that the enforcement of the […]

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 […]

There are reasons to be optimistic about rates in both the crude and product tanker sectors – and INSW’s fleet spans both categories.

A requirement for ships to go slow in order to reduce greenhouse gas emissions could be counterproductive, says the Coalition for Responsible Transportation.

The companies will “collaborate on a wide range of cross-industry initiatives” and integrate their systems.

CEO Rolf Habben Jansen said transpacific contract rates saw an average “three-digit increase” per TEU.

Crude tanker owner DHT Holdings believes the stage is now set for a pronounced upswing in rates.

The high import levels expected through the summer are driven by a rise in retail sales and plans to increase and broaden the tariffs against China.

Containerized import volume was up 7% year-over-year, but port officials “are concerned about what comes next.”

Justin Pinchback is hired as chief people officer and Bookda Gheisar is named senior director for equity, diversity and inclusion.

The settlement affects 17,519 drivers who entered into vehicle lease and independent contractor operating agreements between 2007 and 2017.

Enhancement of routing and scheduling software designed to help transportation planners “do more with less.”

But the company says revenues are up and predicts an increase in operating revenue for 2019.

Hapag-Lloyd (FSE: HLAG) reported first-quarter results that were better than expected thanks to strength in its trans-Atlantic franchise, better exchange rates, and the one-time effect of an accounting rule change. […]

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.

It’s rough out there in the dry bulk ocean shipping business. New York-headquartered Genco Shipping & Trading (NYSE: GNK) posted a net loss of $7.8 million in the first quarter […]

Effective May 28 the maximum authorized draft for vessels transiting the canal’s Neopanamax locks will be 43 feet, down from 50 feet at the beginning of the year.

Pricing, procuring and planning ocean and rail freight was for years a dark art practiced by a cabal of freight forwarders and logistics professionals. But the ethos of many transport […]

APL Logistics, Kinedyne LLC, Port of Virginia and Sea Machines introduce new hires.

Some shippers have not yet posted general average and salvage security.

The National Association of Manufacturers called on Congress to swiftly reauthorize the Ex-Im Bank after three board members were confirmed.

The Transportation and Infrastructure Committee favorably reported the Full Utilization of the Harbor Maintenance Trust Fund Act with one lawmaker voicing opposition.

Members of the International Longshore and Warehouse Union have been negotiating with employers for 17 months to replace the contract that expired on March 31, 2018.

The agency on Wednesday officially announced that tariffs across $200 billion worth of goods will increase to 25 percent on Friday.

The containership chartering company also increased its operating revenue by $28.4 million in its first full quarter since merging with Poseidon Container Holdings.

She previously worked in the Transportation Department in various roles from 2003 to 2008.

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…

NASDAQ-listed Eagle Bulk believes its ‘owner-operator’ model allows it earn more than ‘pure owner’ competitors.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Orient Overseas (International) Limited announced the sale for $1.78 billion of Long Beach Container Terminal to a consortium led by Macquarie Infrastructure Partners.