Cummins Inc.’s environmental citizenship record didn’t shield it from the U.S. attorney general’s criticism when it agreed to pay a record fine.
Ocean shipping kept the world’s cargo flowing amid two wars and disruptions at both the Panama and Suez canals.
The volume of Russian crude exports is growing and the price is rising, spurring the U.S. and its partners to begin sanctions enforcement.
A flood of tanks, military vehicles and weapons systems is flowing from the U.S. to Europe. Shipowner ARC plays a pivotal transport role.
Inflation and economic fallout from the war are curbing demand just as a tidal wave of new ship supply hits the water.
Diesel is an essential fuel for the global economy. The world’s second-largest seaborne supplier, Russia, just halted exports.
Price caps have been breached, discounts on Russian exports are dwindling, and more money is flowing to Russian coffers.
Tanker shipping sanctions compliance is getting a lot more complicated as the price of Russian crude oil rises.
The Wagner mutiny is drawing attention to what happens after the war in Ukraine ends. When it does, shipping will see major changes.
Mainstream European tanker owners that are willing to load Russian oil are far outperforming the broader market.
Older ships are being kept in service longer in pursuit of profits, heightening the risk of accidents and spills.
Europe faced a potentially disastrous energy shortage after war broke out. LNG shipping played a vital role in limiting the fallout.
The war has stoked fears of global shortfalls of wheat, corn and fertilizers, but the flexibility of shipping trades has limited the risk.
Russia’s invasion of Ukraine and the temporary blockage of its Black Sea port have redirected the flow of grain from Ukraine.
Mainstream tankers have moved into the Russian crude export trade. The price cap might push them back out again.
More Western tankers are jumping into the Russian trade — legally, under the price cap — to pocket big freight premiums.
Worsening China-U.S. relations underscore how pivotal geopolitics has become to global shipping and trade.
Crude production cuts are inherently bad for tanker shipping, but analysts are downplaying the fallout.
Tanker capacity for diesel is already tight amid war fallout. With very few ships on order, future transport capacity could fall short.
With virtually no new ships on order and demand strengthening, the tanker business seems poised for a bull run.
Germany’s Traton Group topped $42 billion in revenue for 2022 with Navistar contributing significantly to the top and bottom lines.
Daily Russian Fossil Fuel Revenues Still at $500 million
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.
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.
Russian crude restrictions are having the predicted effect on tanker trades, soaking up more vessel capacity as sailing distance lengthens.
Are falling commodity shipping spot rates the result of normal seasonality or a symptom of global economic malaise?
Sanctions on Russian crude exports have yet to boost tanker rates. Some question whether sanctions on Russian diesel will either.
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.
Even if no oil moves under price caps, Russian exports could face deep discounts and continue to flow via “shadow tankers.”
Global energy trades face even more tumult ahead. “This could get crazy,” says Scorpio Tankers’ Robert Bugbee.
The Ukrainian aircraft manufacturer Antonov said it expects rebuilding the aircraft destroyed by Russian fighters to cost at least 500 million euros.
Some VLGCs carrying propane and VLCCs carrying crude have joined LNG carriers in shipping’s six-figures-per-day club.
Europe must replace all seaborne crude imports from Russia within the next few weeks. Crude tanker owners stand to gain.
Product-tanker share prices are up triple digits year to date as investors position for sanctions upside.
The “shadow fleet” is not large enough to save Russian oil exports from Western sanctions, according to multiple analysts.
As container shipping stocks get battered by collapsing rates, tanker shares could be poised for a long bull run.
With war raging and pipelines sabotaged, shippers are paying astronomical sums to transport LNG across the oceans.
The EU is going to ban imports of Russian crude and petroleum products. It still has a long way to go to find replacement supplies.
The G-7 plan to squeeze Russia’s oil profits hinges on the EU revising its own sanctions. Those revisions face opposition.
“Right now, shipping companies around the world are looking at this and scratching their heads,” says sanctions expert Bruce Paulsen.
Tanker stocks are proving to be a shelter from the Wall Street storm as demand grows for ships that transport oil and natural gas.
If the U.S. curbed gasoline and diesel exports, tankers would sail longer distances to replace lost volumes — a plus for tanker earnings.
The Russia-Ukraine war caused demand for LNG to surge. Owners of LNG carriers are in prime position to profit this winter.
The cost of marine fuels is down sharply from the wartime peak, except for ‘clean’ LNG, which is getting even more expensive.
Daimler Truck posted improved revenue and income in Q2 but expressed full-year concerns because of Russia’s war on Ukraine.
It looks increasingly likely that war-driven changes to global crude flows will persist for an extended period.
On Jennifer Rumsey’s second day as CEO, Cummins Inc. reported strong Q2 earnings in North America.
Fallout from the Ukraine-Russia war and concerns over power supply in Europe and Asia support demand for seaborne coal.
Cargo vessels allegedly are meeting at sea to transport stolen Ukrainian grain to Turkey and Syria.
Don’t expect the restrictions that truck manufacturers are imposing on Class 8 order intake to last. There’s too much at stake.
Average change in the price of selected raw materials
In February, Russia was still making around 40% more money off its exports of oil, gas and coal in May 2022 than it did one year earlier
The first half has been phenomenal for product tankers. How much of shipping upside is due to the war?
Airlines act as an auxiliary transport wing for the U.S. government during times of crisis.
EU sanctions on Russian petroleum exports could have much more serious repercussions than earlier U.S. moves.
Class 8 truck orders fell in May for seasonal reasons and because manufacturers kept a tight lid on bookings.
Kpler: Russian crude exports in April highest since June 2019
Tankers are loading up on American crude, diesel and gasoline exports. Can the free market withstand political pressure?
Amsterdam airport lost a major cargo customer because of Russia’s invasion of Ukraine.
Russian airline Volga-Dnepr is trying to revive its fortunes, and the Russian economy, with a new air logistics deal with Moscow.
Without sanctions, tankers will keep loading Russian oil. ‘We’re not taking a moral high ground,’ says Frontline’s CEO.
First came a pause in cargo bookings to Russia. Now, ocean carriers have halted almost all of their Russian port calls.
The U.S. military has tapped private cargo airlines to ferry weapons for Ukraine to Poland.
Container-ship transits of the Panama Canal are up as liners favor the East Coast. LNG transits are down as U.S. gas heads to Europe.
“Higher shipping costs hit prices of imported goods at the dock within two months and quickly pass through to producer prices — many of whom rely on imported inputs to manufacture their goods,” IMF researchers wrote.
Retail stock pickers seem increasingly nervous about shipping. Shares of dry bulk, tanker, container and mixed-fleet owners all fell.
Air Lease Corp. is writing off $800 million worth of aircraft it can’t reclaim from Russian airlines – another reason leasing could be more expensive.
The U.S. government is preventing the sale of any item to a Russian cargo airline it accuses of flying U.S.-made aircraft in violation of sanctions.
Volvo reported record Q1 truck sales despite ongoing supply chain interruptions. The company took a $423 million charge for suspending Russia business.
Russian imports via ocean, truck, rail and air are now being simultaneously squeezed. Shipping data shows growing pressure.
The future of global supply chains is in flux. The pandemic was a game changer. Then came the war.
Fuel supplier Pilot Company raised $1 million for Save the Children’s efforts in Ukraine through round-up donations at travel centers and restaurants.
Swedish truck maker AB Volvo halted its business in Russia because of the invasion of Ukraine. Now it is counting the cost.
Relief efforts are ‘proving extremely challenging’ for those stuck on 140 vessels in the conflict zone.
The air cargo market turned negative in March, after a strong February, because of the Ukraine war. Analysts say inflation and lower export orders could signal less shipping activity ahead.
RH confirms sharp drop in demand since Russia-Ukraine war and sees no supply chain relief.
Charter rates hold steady at their peak as the seemingly neverending container shipping boom continues.
Four Class I railroads have donated funds to support humanitarian relief efforts in Ukraine and surrounding areas. Also, U.S. and European rail sector officials form a task force to support Ukrainian freight and passenger rail.
U.S. LNG cargoes were already flooding toward Europe months before the new deal. Real progress seems years away.
Cost of shipping crude oil remains cheap, but tanker rates could jump if the war doesn’t end by fall.
Medical Response Drones from Draganfly will be used to deliver lifesaving medical supplies like blood and wound care kits.
Ship-position data shows a fleet of LNG carriers en route to Europe amid scramble to bolster energy supply.
AirBridgeCargo has stopped flying its large Boeing 747 cargo jets because of U.S. and European sanctions on Russia.
Getting Russian aircraft in the air to fly home is like aiding and abetting a criminal, the U.S. says. Penalties will apply.
Lives are changing for the people of Ukraine due to Russia’s invasion. Here are three examples from the freight community.
Paul-Bernard Jaroslawski, founder and president of Freight Caviar, explains how the war in Ukraine is affecting the large trucking and logistics outsourcing industry in a fireside chat during the FreightWaves’ 3PL Summit.
Delivery of fuel, ammunition vital during times of conflict
Congress is paying more attention than ever to freight supply chains. Here are 10 pending bills that attempt to address disruption and lower costs for carriers and their customers.
Russia’s aviation system is quickly being ground to a halt by sanctions.
Fancy a Moscow mule or White Russian? Get ready to change brands.
Oil companies face a potential profits-versus-people dilemma as a flotilla of tankers carrying Russian oil heads for U.S. ports.
A former U.S. Army officer turned CEO explains the dangers of cyberwarfare, and why his company is working to protect trains, planes and tanks from getting hacked.
The energy secretary aims her comments at investors, saying they need to support more output.
In a letter to associates, PepsiCo CEO Ramon Laguarta said, “As a food and beverage company, now more than ever we must stay true to the humanitarian aspect of our […]
As more than 2 million Ukrainians have fled their country in the past 13 days since Russia launched a military invasion, several U.S.-based trucking and logistics companies have donated money, while others, including nonprofit groups, have raced to the region to provide direct humanitarian relief to refugees.
Amos Hochstein is a longtime oil expert within the State Department.
Longshoremen along the U.S. West Coast say they won’t touch any shipments for Russia.
At CERAWeek, CEO Ryan Lance says energy security hasn’t been managed well, and the economy is dealing with the fallout from that.
