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Greg Miller

Greg Miller covers maritime for FreightWaves and American Shipper. After graduating Cornell University, he fled upstate New York's harsh winters for the island of St. Thomas, where he rose to editor-in-chief of the Virgin Islands Business Journal. In the aftermath of Hurricane Marilyn, he moved to New York City, where he served as senior editor of Cruise Industry News. He then spent 15 years at the shipping magazine Fairplay in various senior roles, including managing editor. He currently resides in Manhattan with his wife and two Shih Tzus.
Sep - 2019 -
30 September
Greg Miller

Sanctions are cleaving the global shipping fleet in two

U.S. sanctions targeting a subsidiary of China’s COSCO Shipping could have far-reaching consequences.

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25 September
Greg Miller

Q&A: Jefferies’ Randy Giveans on the revival of shipping stocks

Shipping equities have suffered through a rough couple of years, but hope persists that market capitalizations and trading volumes can be resuscitated.

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23 September
Greg Miller

Keep your eye on containers in global circulation

The number of containers is a better bellwether of global trade than the number of container ships.

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20 September
Greg Miller

Ocean shipping on Wall Street: the sound of silence

Capital-market sentiment is so bad in New York that ship owners may end up raising more money in Oslo this year.

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18 September
Greg Miller

Saudi attacks spark higher tanker earnings

This week, VLCC tanker rates are rising, whereas both trans-Pacific box rates and Capesize bulker rates are slipping.

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16 September
Greg Miller

How drone attacks impact shipping: crude tanker fallout

The drone attacks in Saudi Arabia are reverberating across the ocean shipping business. Part II: the impacts on the crude tanker segment.

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Greg Miller

How drone attacks impact shipping: non-tanker fallout

The drone attacks in Saudi Arabia are reverberating across the ocean shipping business. Part I: the impacts on non-tanker shipping segments.

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13 September
Greg Miller

Pendulum continues to swing toward U.S. East Coast ports

Data confirms that U.S. importers are increasingly opting to bring Asian cargoes into East Coast ports.

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12 September
Greg Miller

IEA: Trucks, ships may face less IMO 2020 risk than feared

The International Energy Agency now believes implementation of the new fuel rule could be “much smoother than expected.”

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11 September
Greg Miller

Jitters for bulkers, steady for boxes

Dry bulk spot rates have pulled back from recent highs, while trans-Pacific container rates have held their gains.

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10 September
Greg Miller

Another LNG nail in coal’s coffin?

Final investment decisions for new global LNG export plants are surging, a negative for future thermal coal demand.

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06 September
Greg Miller

Hurdles persist to hedging IMO 2020 fuel fallout

According to Euronav, the derivatives market in low sulfur fuel oil is not deep enough to provide a viable IMO 2020 hedge – but it will be soon.

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Greg Miller

Another shipping giant brings its IMO 2020 fuel in-house

Tanker major Euronav has revealed new details on its strategy to counter IMO 2020 risks.

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05 September
Greg Miller

‘Sizzling’ bulkers hit near nine-year high

The beleaguered dry bulk shipping sector is nearing its post-financial-crisis peak. Is it sustainable?

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04 September
Greg Miller

Dry bulk rates are far outpacing earnings and shares

Companies like Safe Bulkers are booking their ships at considerably higher rates, yet investor interest remains muted.

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Aug - 2019 -
30 August
Greg Miller

How Hurricane Dorian could impact ocean shipping

A direct hit on both Freeport and Miami would compound fallout for ocean shipping.

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28 August
Greg Miller

LNG heats up, boxes continue slide

LNG shipping rates are being driven by seasonal issues. Box shipping rates are behaving counter-seasonally.

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26 August
Greg Miller

Epic Gas thinks big (and small)

Best-of-both-worlds business model of LPG carrier Epic Gas strives for both defensibility and growth potential.

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23 August
Greg Miller

Shipping magnate goes ‘all in’ with IMO 2020 wager

John Fredriksen’s shipping companies are increasing their exposure to IMO 2020 market effects.

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22 August
Greg Miller

Product-tanker shipping’s long and winding road

An exclusive FreightWaves interview with Concordia Maritime CEO Kim Ullman on product-tanker fundamentals and IMO 2020 fallout.

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21 August
Greg Miller

Supertankers jump, boxes rates tumble

VLCC rates are up over 200% month-on-month. Trans-Pacific box shipping rates are down 11% since the beginning of August.

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Greg Miller

How a global recession could impact ocean shipping

The next global recession would have a different impact on ocean shipping markets than the 2008-09 financial crisis.

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19 August
Greg Miller

Will other listed ship owners privatize after DryShips’ exit?

DryShips and Teekay Offshore are going private. With share valuations weak, others could follow suit.

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16 August
Greg Miller

How time charters offer window on bulk shipping sentiment

Time-charter rates can offer a clearer view on future sentiment than headline-grabbing spot rates.

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15 August
Greg Miller

IMO 2020 could spark more shipping tie-ups with fuel sellers

Golden Ocean could be a trendsetter, buying a stake in a marine-fuel operation to offset IMO 2020 price and availability risks.

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14 August
Greg Miller

Trans-Pacific box rates poised to rise?

Asia-U.S. container rates are still not showing peak-season strength, but optimism remains.

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Greg Miller

How U.S-China trade dispute steers ocean shipping stocks

Can listed shipping shares break out of their slump before the U.S.-China trade dispute is resolved?

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01 August
Greg Miller

Re-reading the IMO 2020 crude tanker tea leaves

As with product tanker rates, crude tanker rates show no sign yet of upside from IMO 2020 preparations.

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Jul - 2019 -
31 July
Greg Miller

Investors getting nervous about IMO 2020 tanker pitch

IMO 2020-driven refining activity and tanker demand appears to be materializing slower than previously expected.

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30 July
Greg Miller

Will a six-year-old bet on dry bulk recovery finally pay off?

Eagle Bulk is finally in position to benefit from a rate recovery. It has been a long time coming for funds that invested back in 2013.

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29 July
Greg Miller

More ‘black gold’ is winding its way down America’s rivers

Tank barges plying U.S. rivers are seeing higher rates as more petroleum is shipped.

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25 July
Greg Miller

Liner companies face rising cost to charter container ships

The quarterly results of Costamare reveal continued rise in container-ship charter rates.

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24 July
Greg Miller

Tanker rates adrift as Iran tensions simmer

This week, VLCC rates are going sideways, Capesize rates have reversed, and container shipping has yet to gain traction.

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Greg Miller

Switch to gas to accelerate, slashing U.S. coal demand

Low pricing will speed up Europe’s transition from coal to gas, according to Morgan Stanley.

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22 July
Greg Miller

U.S. sanctions Chinese buyer of Iranian crude as tanker risks rise

The already dicey relationship between the U.S. and China could get even dicier after a new sanctions decision.

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Greg Miller

Scorpio Bulkers’ stock up as mid-sized ships join the rate party

Rates for mid-sized bulkers including Kamsarmaxes and Ultramaxes are following Capesizes’ lead.

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20 July
Greg Miller

Hormuz ‘clock’ ticks another minute closer to midnight

Geopolitical risks are escalating, increasing the risk for petroleum shipments transiting the Strait of Hormuz.

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19 July
Greg Miller

Slowing growth in U.S. crude production could hit tanker rates

If U.S. crude output were to lose momentum, it would be felt by tanker owners much more so than before.

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18 July
Greg Miller

Capesize bulker rates are ‘electrifying’

It’s hard to blame the skeptics, given what has happened in the past, but dry bulk freight rates are getting pretty impressive.

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17 July
Greg Miller

Will IMO 2020 pull Asia containers from East to West Coast?

Sudden surge in marine fuel costs could spur shippers to consider switch to California over Panama Canal route.

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16 July
Greg Miller

How to go ‘straight to the freight’ when betting on dry bulk

An exclusive interview with John Kartsonas, the developer of the BDRY exchange-traded fund that tracks bulker rates.

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15 July
Greg Miller

Tanker shipping demand nightmare – fact of fiction?

Peak oil demand “lurks like a monster in the shadows,” warns Stifel analyst Ben Nolan.

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11 July
Greg Miller

Inside box shipping’s Caribbean ‘transshipment triangle’

The Caribbean is container shipping’s all-important crossroads of the Americas.

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10 July
Greg Miller

Bulker bosses explain freight price resurgence

Capesize owners were afraid to ballast to Brazil when a key Vale mine was closed. Now there are too few Capesizes in the Atlantic Basin, pushing up rates.

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09 July
Greg Miller

How IMO 2020 affects transport of ore, coal, grain and other dry bulk

Dry bulk transport is about to get more expensive thanks to new marine fuel regulations.

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Greg Miller

Is bull theory on shipping stock rebirth just wishful thinking?

Hope springs eternal for shipping stocks. Some analysts claim now is finally the time to jump back in.

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08 July
Greg Miller

Why container liner profits remain elusive despite alliances

It has now been a half-decade since the emergence of large-scale container liner alliances. What’s their track record?

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03 July
Greg Miller

Are new ship orders shrinking on fear of premature obsolescence?

Some believe the pace of regulatory and technological change is causing owners to pull back from newbuilding contracts.

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Greg Miller

U.S. soybean sales could bolster dry bulk

Dry bulk shipping could be a winner following the ceasefire in the trade war between the U.S. and China.

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02 July
Greg Miller

Drugs at sea – more coke plus more ships equals more problems

Could the record seizure of cocaine aboard the MSC Gayane be a sign of things to come?

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Jun - 2019 -
28 June
Greg Miller

Q&A: Economist talks tariff effects on trucking, rail and shipping

Top transportation economist Paul Bingham goes in-depth on trade war freight consequences, both pro and con.

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Greg Miller

Tech front runner CargoMetrics opens up on its game plan

An in-depth, exclusive interview with Scott Borgerson, co-founder and CEO of CargoMetrics Technologies.

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26 June
Greg Miller

IMO 2020 prep is already hiking cost to ship cargo by sea (with video)

Research by Clarksons confirms acceleration of scrubber installations, reducing available ship capacity.

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Greg Miller

Philly fire sparks product tanker earnings

East Coast refinery outage spurs more trans-Atlantic gasoline cargoes from Europe.

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25 June
Greg Miller

How shipping banks’ GHG focus impacts fleets and freight rates

An exclusive interview with Citi’s head of shipping Michael Parker on Poseidon Principles consequences.

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23 June
Greg Miller

Shipping tech finally has its ‘moment’ – can it get it right?

Sentiment toward shipping tech has reached a new high point among startups, tech investors and vessel interests.

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20 June
Greg Miller

Is container shipping market less turbulent than headlines imply?

Despite all the negative news, container shipping may be on a steadier course than in previous decades.

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18 June
Greg Miller

Tanker earnings jump after attacks

Geopolitical and trade tensions are having an increasing effect on shipping rates.

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Greg Miller

John Fredriksen-backed Flex LNG makes Spotify-style NYSE debut

The New York Stock Exchange (NYSE) has just welcomed another ship owner aboard. On June 17, the stock of liquefied natural gas (LNG) carrier owner Flex LNG (NYSE: FLNG) began […]

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17 June
Greg Miller

What canal toll plan means to shipping, rail and trucking

New incentives for container shipping could bring more boxes through the canal to the U.S. East Coast.

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14 June
Greg Miller

IMO 2020 credit risks to cascade across marine fuel supply chain

Suppliers, traders and ship operators will need to increase credit lines and be more diligent about counterparty risk.

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13 June
Greg Miller

Founder George Economou bids to take DryShips private

An independent valuation of DryShips’ fleet by VesselsValue puts the bid to take it private in context.

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Greg Miller

Tanker attacks could lead to jump in crude oil shipping rates (with video)

Middle East tanker attacks could spur oil importers to bring forward purchases, increasing shipping demand.

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12 June
Greg Miller

Suezmaxes spike, containers and LNG plateau

Suezmax tankers can carry half as much crude as VLCCs, but now command twice the VLCC rate.

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Greg Miller

When shipping stocks sold as one thing become something else

Performance Shipping’s expansion into the tanker sector underscores the continued appeal of diversification to listed ship owners.

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11 June
Greg Miller

Shipping software developers see new money but old challenges

Developers are poised to bring new software to the ocean shipping sector. What will work and what will not?

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10 June
Greg Miller

Slumping coal exports threaten rail and ocean shipping demand

U.S. coal export volumes are down 12.7 percent in the first four months of this year and the outlook looks even worse for 2020.

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07 June
Greg Miller

Crude supertanker rates could face ongoing capacity threat

Is a recovery near for VLCC crude tanker spot rates? Not yet, warns an an analyst at VesselsValue.

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06 June
Greg Miller

The rise and fall of the Cool Pool: what it means to LNG shipping

Bringing spot vessels together into a pooling arrangement made sense, but ultimately, business interests diverged.

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Greg Miller

TEN outperforms spot tanker rates with conservative approach

Switch to long-term coverage that began in 2016 continues to pay off in 2019.

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05 June
Greg Miller

LNG ‘problem child’ Dynagas Partners is still problematic

Investor concerns are intensifying over the fate of George Prokopiou’s publicly listed LNG partnership.

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04 June
Greg Miller

Boxes bounce back, VLGCs and Capes up

Rates are rising for bulkers and gas carriers, while container pricing on the trans-Pacific is showing signs of life.

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Greg Miller

Listed ship owners on track for worst fund-raising year ever

It has been the slowest start of the year on record for shipping on Wall Street.

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03 June
Greg Miller

U.S. LNG export projects remain on bullish track – a plus for shipping

With each passing day, it seems the U.S. LNG export sector is gaining further momentum.

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02 June
Greg Miller

Where will all the residual fuel go after ships barred from using it? (with video)

There may be so little demand post-2020 for high-sulfur fuel oil that it may end up stored aboard tankers.

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May - 2019 -
31 May
Greg Miller

Cargo price index falls in unison with port wait-time index

As U.S.-China trade tensions escalate, data appears to be pointing to a volume slowdown.

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30 May
Greg Miller

Boxes fall, LNG and refined products rise

Shipping rates are clawing their way back from lows set earlier this year.

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29 May
Greg Miller

Investment pitch on ‘feeder’ container ships has yet to pay off

Every corner of the ocean shipping world is completely distinct from the others. What fuels the tanker business is almost entirely different than what steers dry bulkers or container ships. […]

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Greg Miller

Connecting the dots – Trump, the trade war, OPEC and tanker rates

If a trade war pares GDP growth, OPEC cuts may be extended, weighing tanker rates.

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28 May
Greg Miller

Ships-for-shares trend continues as Star Bulk takes another fleet

Private equity-backed ship owners continue to sell fleets to already listed companies in return for shares.

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23 May
Greg Miller

Pruning of the Teekay family tree could bear fruit

The Teekay companies continue to concentrate their focus on oil and LNG shipping.

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22 May
Greg Miller

Logjam in Brazilian iron ore exports could be loosening

As a major owner of Capesize bulkers, Golden Ocean is heavily exposed to events in Brazil.

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21 May
Greg Miller

Rising off bottom, still far from recovery

There are some positive signs for shipping rates, but overall, disappointment prevails.

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Greg Miller

More ship owners eye Wall Street via direct listings, not IPOs

Golar LNG Ltd is spinning off a new public entity. Flex LNG is coming too. Shipping’s US-listed field is getting even more crowded.

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19 May
Greg Miller

Is new shipping finance model a game-changer or one-off?

A more flexible shipping loan concept is good for borrowers and their clients, but may have limited scope.

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16 May
Greg Miller

DryShips forges ahead as legal challenges persist

Despite the controversies through the years, DryShips has proven to be a survivor – and has posted another quarterly profit.

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15 May
Greg Miller

Charter rates for larger box ships outpace smaller classes

Large ships may provide liner operators with economies of scale, but they are proving more expensive in the chartering market.

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14 May
Greg Miller

Wall Street’s newest tanker major poised to make waves

NYSE-listed Diamond S Shipping brings an experienced management team back into the public arena.

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Greg Miller

Danaos sees little tariff fallout for box-ship chartering

Danaos CEO does not believe trade dispute will cut box-ship ton-mile demand.

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13 May
Greg Miller

Shipping caught in crossfire as trade dispute escalates

China’s new list more than doubles the tariff on LNG, but it’s the dry bulk stocks that are feeling the pain.

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Greg Miller

Navios Group’s tanker unit moves ahead with fleet renewal

In its first full quarter since repurchasing its spin-off, Navios Acquisition moved to lower its fleet age.

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11 May
Greg Miller

How an escalating trade war could play out for ocean shipping

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

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09 May
Greg Miller

International Seaways’ double exposure to crude and products

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

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Greg Miller

DHT positioned to take advantage of tanker recovery

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

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08 May
Greg Miller

Genco seeks differentiation in commoditized sector

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 […]

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Greg Miller

How trucking can mitigate risks of IMO 2020 marine fuel rule

IMO 2020 is will increase demand for distillates and put upward pressure on diesel. How should truckers prepare?

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07 May
Greg Miller

Eagle Bulk uses ‘active’ model to outperform the index

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

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Greg Miller

Global Ship Lease sees profits and charter coverage rise

NYSE-listed Global Ship Lease is reporting improved conditions in the container ship chartering market.

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06 May
Greg Miller

Shipping stocks pull back after Trump trade warning

Stocks of publicly listed ship owners, particularly in the dry bulk sector, are feeling the fallout of trade tensions.

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