|AUGUST 5, 2019|
- Asia-Europe rates up 7pc to US$806/TEU, USWC surge 11pc to $1,589/FEU
- 'K' Line fined US$23.4 million for conspiracy by Federal Court of Australia
- Cosco moves up the 'premier league' of port operators trailing Hutchsion
- S Korea to spend US$35b to boost cargo capacity to 1.85b tonnes
- PSA International closes deal on acquisition of Halterm box terminal
- ONE sets up new box depot at Rotterdam Maasvlakte with Kramer
- Virginia's FY2019 box volume hits record 2.9m TEU with higher imports
- Melbourne's box trade rises 4.1pc YoY in June, but down on May
- New pellet-bagging facility at Prince Rupert port to serve CN customers
- Cathay Pacific first to use ULD blockchain technology
- DSV sees air freight volumes rise 1pc and profit up to US$313m in H1
- Moscow's Sheremetyevo airport sees H1 cargo traffic rise 2pc
|AUGUST 4, 2019|
- Boxships withdrawing from service for scrubber installations, says research
- Govt keen to promote sea as the next gateway for tourism in the country
- Trade war impacting Far East-US rates as carriers move to improve demand-supply fundamentals on European routes, says report
- India's corn imports seen climbing to record high
- China's busiest port sees throughput rise 5.5 pc year-on-year in H1
- Container terminal utilisation rates seen rising
- Largest container movement through inland water transport flagged off
- GatewayRail starts EXIM operations at ICD Viramgam in Ahmedabad
- How digitally enabled logistics service providers are becoming strong enablers for young entrepreneurs & start-ups
- Nepalese Parliament set to ratify Inter-governmental Agreement on Dry Ports
- GST revenue collection in July 2019
- Revised framework for external commercial borrowing welcomed
|AUGUST 2, 2019|
- Asia-Europe rates continue to strengthen as carriers launch IMO 2020 tariffs
- Container terminal throughput set to hit near a billion teu in five years
- IAG Cargo impacted by softening air freight market, but CEO stays bullish
- Fears of 'no-deal' Brexit road and port congestion growing among hauliers
- Atlas Air blames trade tension and disputes with pilots for poor Q2 performance
- Revenue down, but profits up for upbeat XPO Logistics in first half
- China pledges to hit back as more US tariffs are promised
- Market Insight: Kuehne + Nagel rumoured to quicken its Asia restructure as trade wars bite
- Supply chain radar: XPO Logistics - let's hope all that glisters (guidance, mainly) is gold
- Analysis - DSV's interim results... solid, but for me, truly uninspiring
|AUGUST 2, 2019|
- AAL outlines its IMO 2020 strategy
Singapore-based multipurpose shipping specialist AAL has released details on how it plans to comply with the IMO 2020 global sulfur cap. AAL notes that it has has served the multipurpose heavy lift
- Damen introduces new Landing Utility Vessel
The aquaculture industry got its first look at a new Damen designed support vessel, July 26, when Coastal Workboats Scotland delivered the first Damen Landing Utility Vessel 1608 to client Loch Duart.
- VIDEO: World's largest plug-in hybrid delivered
Norway's Ulstein Verft shipyard has delivered the world's largest plug-in hybrid vessel, Color Hybrid, to Color Line. Measuring 160 m in length and 27.1 m in beam, the vessel can carry 2,000
|AUGUST 2, 2019|
- High scrubber uptake fails to lift earnings as retrofits ramp up
Scrubber uptake is accelerating as owners and operators focus on retrofitting the largest dry bulk vessels and tankers, where fuel...
- UK freeports plan would have been feasible within the EU
The EU is not set against the free zones, despite what those around UK prime minister Boris Johnson may have...
- From the News Desk: Sailing in red ink as trade tensions escalate
This week: More bad news for shipping as Trump's tariff tiff with China steps up a gear, earnings season reveals...
- GoodBulk posts small profit in second quarter
The Monaco-based owner has sold a supramax bulker, bringing it closer to being a pure capesize player
- Fresh US tariffs unlikely to spur more frontloading and may further damp transpacific trade
The to-be-imposed US tariffs on a further $300bn of Chinese exports comes amid an already underperforming peak season on transpacific...
- The Lloyd's List Podcast: Dire straits for shipping
On this week's podcast we're taking another look at the latest developments for shipping in the Strait of Hormuz and...
- Leaving LNG spot pool was 'tough' call, says GasLog
Liquefied natural gas carrier owner sees momentum for time chartering as it separately takes on board new flag advice for...
- From the many to the few
Could a merger between Hapag-Lloyd and Ocean Network Express make sense?
- Freeports are not the silver bullet to turbocharge UK trade
While industry has generally welcomed the government's additional focus on how ports can further support national and regional economies, the...
- Ex-Baltic Asia head Christopher Jones joins HFW in Singapore
Mr Jones' expertise on past and current freight rates, and ability to undertake valuation work will prove valuable, with HFW's...
- Daily Briefing
UK reopens controversial Brexit ferry tender | Indonesian 2020 cabotage waiver could create unfair competition and legal risk | Global...
- Coal still finds home in China
Chinese coal imports on panamaxes have been especially strong in the second quarter into July, benefiting in particular from cape...
- Owners are their own worst enemies, says Precious chief
Precious Shipping managing director Khalid Hashim claims that if recycling does not accelerate then the Baltic Dry Index will continue...
- The Interview: Nick Shaw
Nick Shaw got the job as chief executive of the International Group after only the second employment interview of his...
- Navy vessel and general cargo ship collide in Taiwan Strait
The cause of the accident is not known and shipping authorities are processing the case
- Trump's new tariffs decried by ports and retailers across the US
Even before the new tariffs were announced, ports across the country expressed concern over the adverse impact to their operations...
|AUGUST 2, 2019|
- Firming trans-Pac spot rates signal calmer peak
- TransX helps CN win domestic intermodal business
- Falling German river levels again threaten cargo flow
- Delays hit Chittagong port after bad weather
- Mexico City warehouse market unfazed by slow economy
- Collaboration needed to stem Mexico port delays
- "K" Line fined $23 million for ro-ro price fixing
- Indian digital forwarder capitalizes on reefer push
|AUGUST 2, 2019|
- Kirby snaps up more inland tank barges
Kirby Corp continues to grow its fleet. According to filings with the Securities and Exchange Commission, the Houston-based, New York-traded company bought seven inland tank barges from an unnamed leasing company for $8.43m during the second three months of 2019. Kirby lowers 2019 outlook, posts higher third-quarter profit Kirby sues K Line over spill in Houston Ship Channel For the quarter, t
- Kearns joins Jones Walker
James Kearns has joined Jones Walker's maritime team. Kearns joins the firm after spending nearly 27 years at Bryan Cave, where he represented owners, operators and financial institutions in buying, constructing and financing vessels while counseling clients on Jones Act compliance. "Jim's extensive experience in and knowledge of the maritime industry are assets to our clients and legal team," s
- Germans seize record-breaking cocaine stash from boxship
German authorities seized cocaine with a street value nearing $1.1bn (€1bn) off a boxship in Hamburg in the largest drug seizure in the country's history. The drugs were, according to media reports, stuffed into 4,200 packages, bundled into 211 sports bags and loaded into a container said to be containing soybeans. Drugs ship released after MSC pays $50m The ship reportedly originated in Urugua
- Relatives of Betelgeuse tanker disaster to bring court action
Forty years after the explosion off Ireland that claimed 50 lives, families launch call to Ireland to review its maritime safety
- Eleventh hour bid to rescue shipyard Harland & Wolff from administration
Workers urge government to renationalise famous Belfast builder of ill-fated Titanic
- GoodBulk takes dividend pot to $44m after profitable supramax sale
John Michael Radziwill's GoodBulk has completed a profitable asset play with the sale of its only supramax bulker and surprised the market with a bumper second-quarter dividend. Oslo OTC listed Goodbulk revealed the transaction and the increased payout as it continued a profitable start to a difficult year for the dry bulk market. GoodBulk content with Oslo listing as global stocks in turmoil J
- Emanuele Grimaldi lines up order as Finnlines plots $555m spend on new ships
Owner plots contract for brace of 'Superstar' class vessels
- Kirsi Tikka retires from ABS to join Pacific Basin board
ABS executive vice president Kirsti Tikka is retiring after 19 years at the Houston based classification society. Tikka, who is 62, is to join Pacific Basin as independent non-executive director. In a statement Pacific Basin said: "Environmental regulations, sustainability and new technologies including new ship and engine designs as well as new fuels and propulsion technologies will become incr
- Awilco LNG strikes leaseback deal to replace Teekay package
Awilhelmsen company Awilco LNG is set to refinance its fleet with a new sale and leaseback deal. Oslo-listed Awilco LNG said a term sheet covering the 156,000-cbm WilForce and WilPride (both built 2013) was in place with "a major leasing company based in Asia". GasLog withdraws LNG carriers from Golar pool JV Tor Olav Troim's Golar LNG edges closer to spinning off shipping fleet The ships were
- Tanker demand escapes direct impact from Trump's latest tariff rhetoric
A top Wall Street analyst has questioned why investors were dumping tanker shipping stocks amid a wider drop in the market after Donald Trump's latest tariff spat with China. New York-listed Teekay Tankers was sold off heavily yesterday as news about Trump's latest change on $300bn worth of Chinese goods hit the headlines. Shipping stocks drop as Trump's latest $300bn tariff spreads wider shockw
- GasLog looks to ramp up contract cover amid rising LNG rate tide
Peter Livanos company GasLog is looking to lock more vessels into period contracts after taking the "tough decision" to quit the Cool Pool this summer. GasLog eyeing resumption of Strait of Hormuz transits GasLog posts second-quarter loss amid weak rates New York-listed GasLog quickly fixed two former pool ships to Gunvor after pulling out from the spot venture with Golar LNG and Dynagas. Paul
- Shipping stocks drop as Trump's latest $300bn tariff spreads wider shockwave
Investors nervous following Donald Trump's latest tariff on $300bn worth of Chinese goods were unloading shares in the world's largest shipowner AP Moller-Maersk today. The selldown of stock in a company which had been vocal about its concerns around the impact of trade tensions comes amid a broader market retreat. Other major shipping stocks were also under selling pressure today after Trump
- Ince moves China chief to 'increasingly important' Singapore hub
The head of Ince in Beijing is moving to lead the Singapore office's China practice, as part of efforts by the law firm to strengthen its offering in Asia. Wai Yue Loh, who is a partner at the firm, will help the growing number of Chinese businesses entering the Singapore market and vice-versa. Loh is a litigator and specialises in shipping, commodities and energy disputes. Gordon Dadds secure
- Watershed looms for shiprecyclers after 15% fall in prices, says GMS chief Sharma
Anil Sharma expects a pick-up in recycling activity during the fourth quarter of this year and a potentially busy two or three years ahead. Currently, the market is depressed with prices continuing to slide. Sharma, the chief executive of major demolition cash buyer GMS, says the pending sulphur emissions cap has so far had little impact on the number of ships scrapped. But longer term, cleaner
- K Line hit by $23.4m competition fine
Australian court rules Japanese carrier has been operating a 'criminal cartel'
- Tor Olav Troim banks full IPO purse as underwriters back Borr Drilling float
Tor Olav Troim has added a third US public company to his empire with the successful $52.4m listing of Borr Drilling in New York. Borr Drilling sights up to $52.4m from New York's first offshore IPO since 2014 Tor Olav Troim's Borr Drilling looks to fetch $50m from New York listing Tor Olav Troim plots New York IPO for Borr Drilling Jack-up rig specialist Borr becomes the first offshore compa
- Westfal-Larsen dry bulk result 'does not look all that good' right now
Norway's Westfal-Larsen has reported more financial losses, but appears now to be closer to a breakeven result. The private Bergen-based bulker and chemical tanker company's holding firm, Navigation Co, cut its pre-tax loss in 2018 to $5.9m, down from $19.1m in 2017. Anders Nome Lepsoe, chief executive of Navigation, said it is too early to say whether the results will end up in the black in 20
- Ezion Holdings warns investors of further losses
Challenging market conditions and reluctance of lenders is holding back firm from reactivating assets
- Argus to launch bunker fuel derivatives contract via CME
Product designed to manage risk of disconnection between cargo and delivered bunker markets
- GasLog eyeing resumption of Strait of Hormuz transits
Peter Livanos-back LNG carrier owner said it may also consider re-flagging some of its ships
- South Korea plans $35bn investment in ports sector
Key part of the plan is to enable Busan to handle latest generation of mega-containerships
|AUGUST 2, 2019|
- "K" Line fined $23.4 million for conspiracy
The Japanese carrier pleaded guilty in Australia to being part of a criminal cartel.
- Deal to allow more US beef exports to EU
The deal reached in Washington on Friday will allow the U.S. to nearly triple its beef exports to Europe.
- Analysts: Next China tariffs will hit consumers more than prior rounds
Goods like clothes and toys are on the proposed tariff list.
- Trade spat dampens West Coast box flows
"Intermodal struggled in Q2," says the Intermodal Association of North America.
- Swift must pay in driver poaching lawsuit
A federal jury ordered the motor carrier to pay CRST $15 million for recruiting and hiring truck drivers who were under contract to its rival.
- Venezuela sanctions go away when Maduro goes
Commerce Secretary Wilbur Ross said easing U.S. sanctions once Interim President Juan Guaidó takes office will be a first step toward restoring the South American country's shattered infrastructure.
- Japan imposes export controls on South Korea
|AUGUST 2, 2019|
- August ICE Dubai crude derivatives open interest rises 5% to 95.83 mil barrels
Combined open interest for the August Dubai crude derivatives traded on the Intercontinental Exchange stood at 95.831 million barrels as of July 31.
- ARA fuel oil stocks up 19% on low exports as Singapore stocks build
Fuel oil stocks in the Amsterdam-Rotterdam-Antwerp hub jumped 19% to 1.21 million mt in the week to Wednesday, Insights Global data showed.
- ICE Aug Singapore HSFO open interest down 13% to 11.9 mil mt
Open interest for front-month August Singapore high sulfur fuel oil contracts traded on ICE fell 13.1% month on month to 11.87 million mt as of July 31, ICE data showed.
- Tight bunker availability at Dunkirk port
Availability of bunker fuel at the French port of Dunkirk was tight Friday, sources said.
- Limited supply of marine gasoil at Istanbul port
There is currently limited supply of marine gasoil at the Turkish port of Istanbul, sources said Friday, owing to limited cargo deliveries in the region.
- FUTURES 5: Oil settles higher as weakened US dollar fuels modest rebound
Oil futures settled higher Friday as markets eyed a weakened US dollar and a still-supportive fundamental picture.
- LSSR premium over ICE Brent hits record high
Low sulfur straight run fuel oil reached its highest point over ICE Brent crude oil futures Thursday, amid rising interest in the refinery feedstock.
- DUBAI FUTURES: Flat price collapses on US-China trade tension; spreads steady
Benchmark Dubai crude futures collapsed overnight, following a plunge in the global crude complex by nearly 4% after US President Donald Trump announced the US will impose a 10% tariff on $300 billion worth of Chinese goods.
- Shell Midstream sees higher crude pipeline flows on growing US Gulf of Mexico production
Shell Midstream saw a 21% year-on-year increase in pipeline crude flows to 2.073 million b/d during the second quarter as two new fields came online.
- ARA diesel, gasoil stocks up 1% on week: Insights Global
The Mediterranean market remained tight as a result of an EGPC tender, with both Libya and Tunisia supporting buying in the region.
- Shell sidesteps UK-flagged tankers for Hormuz oil transport
Shell is not currently using any UK-flagged vessels for voyages in the key oil shipping artery.
- Doubts cast over LSVGO's prospects as IMO 2020 blendstock
"It is not so good as a blendstock as its density would represent a penalty in the high density bunker pool," a trader said.
- Oil races lower after Trump announces fresh tariffs, escalating US-China trade war
The selloff "really points to [the] market's underlying concern about issues of trade, global economic growth, and demand," an analyst at Tradition Energy said.
- PBF Energy sees light-heavy crude spreads widening as IMO 2020 approaches
"We continue to navigate through the narrow light-heavy differentials," PBF CEO Tom Nimbley said Thursday.
- Maersk advances PBF Logistics clean bunker fuel supply deal by two months
Under the agreement, PBF Logistics will supply Maersk about 10% of A.P Moller-Maersk's annual fuel demand.