|AUGUST 8, 2019|
- Danaos first half profit up 17pc to US$34.3 million as revenue flattens
- China Belt and Road power investments surge says Greenpeace research
- Malaysia restarts China's Belt and Road rail project with after cost reduction
- Indian Commerce Minister's absence risks thwarting China's free trade deal
- Zeamarine wins contract to move oversized cargo to Australian mine
- Chinese billionaire charged with evading US$1.8 billion in US duties
- Zim expands coverage in the intra-Caribbean basin trades with box service
- Richard's Bay port cargo volume drops in June to 8.3 million tons
- Canadian shipping sector welcomes government plan to build icebreakers
- Hong Kong air cargo operations hit by protests, but not severely
- Hactl's logistics arm extends road feeder service to western PRD
- Heathrow ground-staff strike is again put off as settlement hopes persist
- Cargolux signs collective labour agreements with unions LCGB and OGBL
- SpiceXpress launches freighter service connecting 5 Indian cities
|AUGUST 7, 2019|
- MOL in strategic partnership to develop zero-emission fully electric vessels
- Essar Ports' Salaya Terminal registers 160 pc cargo growth in Q1
- Automation in Logistics: Need of the Hour
- HMM enters into Block Train Agreement for ICD Patli
- Saranya is the first woman instructor of ODC vehicle in India
- Truck rentals see drop in recent months
- Ministry of Coal begins auction of coal mines
|AUGUST 8, 2019|
|AUGUST 7, 2019|
- Hapag-Lloyd's 'pretty good half-year' turns around 2018 losses
- Air Canada Cargo eyes new revenue streams as results disappoint
- Strong first half for DP-DHL and P&P delivers first profit since 2017
- Self-drive truck start-up launches freight routes in Texas
- Heroin worth £40m found in shipping container at Felixstowe
|AUGUST 7, 2019|
- DNV GL grants AiP for LNG fueled bulker design
Japan's K-Line and Namura Shipbuilding Co., Ltd. have received DNV GL approval in principle\ for the concept design of a 250,000 dwt LNG-fueled ore carrier. The concept vessel is based on Namura's
- Renk wins first order for maritime hybrid drive system
Gearing and transmission specialist Renk AG reports that its Rheine, Germany, plant has won its first new construction contract for its MARHY maritime hybrid system. The system enables ships with two-stroke engines
- Dorian LPG back in the black
Stamford, Conn., headquartered Dorian LPG Ltd. (NYSE: LPG) a leading owner and operator of modern very large gas carriers (VLGCs), reported financial results for the three months ended June 30, 2019 that
- Sea Machines expands European sales force
Boston, Mass., headquartered Sea Machines Robotics has hired industry veteran Frank Relou to lead its European sales efforts, as European business development manager. Sea Machines offers proven commercial-grade, wireless, remote vessel-control systems
- Baleària Caribbean links Fort Lauderdale and Bimini with high-speed ferry
Wednesday, August 7, Baleària Caribbean will launch a new fast-transport service linking Fort Lauderdale (Florida) with the island of Bimini in the Bahamas. The Incat Tasmania built fast ferry connecting these two
|AUGUST 7, 2019|
- EU urged to take more global view on shipping
The Union of Greek Shipowners, representing 53% of EU tonnage, advises Brussels that 'undermining the IMO undermines EU shipping'
- Capesizes come down from highs
The sudden increase in shipments from Vale out of Brazil a few weeks ago had caught owners by surprise, leading...
- TEN signs orders for up to two LNG carriers at HHI
Long-awaited move would double Greek tanker owner's LNG fleet if optional second ship also proceeds
- DHT forecasts promising second half for VLCCs
Update: DHT will have 18 of its 27 very large crude carriers fitted with scrubbers to meet International Maritime Organization...
- China mulls opening of coastal trade to foreign carriers
The idea was spelt out in policy planning documents released by the central government this week relating to the expansion...
- Habben Jansen calls for increased boxship scrapping
German container line sees dark clouds but no cliff edge for box shipping
- First Ship Lease sees positive signs for second half
The trust's board will also continue to explore strategic initiatives aiming to achieve a new phase of growth after successfully...
- Dorian LPG unveils share buyback after return to the black
Very large gas carrier rates nearly doubled in most recent quarter and US-listed owner sees 'finely balanced' market ahead
- Maersk launches Asia-Europe ocean-rail service
New service offers competitive transit times from Asia to European ports
- Slowing container growth hits volume multiplier
The ongoing Sino-US trade war has in fact failed to bring down overall container volumes. However, the growth outlook for...
- Daily Briefing
Ships leave UK flag amid Hormuz threat | Venezuela beats US sanctions via ship-to-ship network off Malta | Greek owners issue...
- Shipbuilding slows on jitters about world economy and IMO red tape
Yangzijiang, which posted lower revenue on fewer newbuild deliveries for the first half to June, is diversifying it business by...
- Hapag-Lloyd returns to black in first half
Higher fuel costs and geopolitical risks still linger as Hamburg-based line reports strong second quarter and first half results
- Cosco Shipping promotes Zhang to senior management
Mr Zhang now holds posts as a vice-general manager of Cosco Shipping Holdings and the chairman of Cosco Shipping Ports
- China reportedly eyes joining US-led mission to protect Strait of Hormuz
Away from any Sino-US co-operation on armed escorts, the idea of any Japanese and American tie-up was reportedly not discussed...
|AUGUST 7, 2019|
- New UN container port index: Shanghai tops in connectivity
- JOC Research Note: US intermodal savings lowest in five years
- Port of Houston pushes ahead with gate expansion
- Weak air freight, truckload hit Roadrunner's Q2 line
- US LTL truckers battle for profits, not pallets
- Hapag-Lloyd extends profitability through H1
- India pushes coastal, inland waterways solution
- Maersk ocean-rail service adds new wrinkle to Asia-Europe
|AUGUST 7, 2019|
- Star Bulk Carriers returns to loss amid impairment charge
Petros Pappas-led bulker owner records depreciation and non-cash expenses.
- Genco widens second-quarter loss amid higher costs
John Wobensmith-led bulker owner misses Wall Street consensus by $0.01.
- Thanassis Martinos back in S&P market with Norden supramax buy
Greek shipowner Thanassis Martinos is understood to have snapped up a supramax bulker from Norden, ending a deal drought extending for around 10 months. Martinos company Eastern Mediterranean Maritime is tipped to have purchased the 57,000-dwt Nord Manatee (built 2010) from the Copenhagen-listed firm. Oman Shipping makes $46m entry into ultramax bulker market Eagle Bulk Shipping eyes growth opt
- Japanese owners in sales spree of secondhand MR product tankers
Secondhand market for MR product tankers remains active with Japanese tonnage providers selling vessels in the nine to 10-year bracket
- Diamond S sees scrubber delays
Connecticut owner witnessing longer wait times both for its own ships and in the general market.
- China's latest US blow may not have an effect for bulker trading
US agricultural shipments to China cannot be hurt much by a new cut in buying because they are too scarce now
- BW LNG's Sohmen-Pao drops hint of vessel fixtures to BP
Shipowner BW LNG has given a first indication that it has chartered at least one of its LNG carriers to energy major BP. The connection to BP was made in the company's inhouse magazine, World Horizon, where BW Group chairman Andreas Sohmen-Pao said "good things are happening across the group", listing progress on FSRUs and "new LNG charters with BP" among the developments. BP swoops on BW LNG ga
- Ocean Longevity offloads panamax, giving up on three-ship sale
Ocean Longevity continues to trim its fleet with sales to Fuzhou player Kind Faith among others
- Matson cuts second-half outlook amid earnings miss
Lower container volumes to Hawaii and China pushed the company to rethink its second-half forecast
- Pair of shipowners sue over tug-into-ship crash
Dutch and Norwegian shipowners are suing American tugboat owners for a January crash on the Mississippi River. Monday, Maas Shipping and Belships together filed suit in New Orleans federal court against two tugs and their owners, looking to recover more than $700,000 after the duo crashed into the 34,914-dwt Maas Confidence (built 2016) and the 61,252-dwt Belforest (built 2015) while anchored. T
- Seaspan expects no company impact from latest Trump tariff
US plan to tax another $300bn in Chinese imports will have a 2% negative effect on boxship sector, chief executive Bing Chen says.
- Oaktree further grows stake in Eagle Bulk by $5.1m
Top shareholder Oaktree Capital Management has once again expanded its interest in Eagle Bulk Shipping by millions of dollars. The Los Angeles-based investor has bought 1.2 million more common shares in the New York-listed bulker player, bringing its stake to 40.1%, according to an SEC filing. Eagle's share value, which slipped 2.3% to $4.24 in the first minutes of trading, makes for a $5.1m inv
- Even the shift into renewables could not save Titanic shipyard
Belfast shipbuilder Harland and Wolff, remembered for constructing the infamous ocean liner, has finally gone bust after decades of failure to secure a viable future
- Skaugen pledges to revive embattled family company
Morits Skaugen is willing to inject capital despite auditor's warning over Eikland's ability to continue operations
- Tidemand group of companies sees annual profit cut in half
Norway's Tidemand group logged profits for bulker operator Eastern Bulk Carriers and owner Stove Shipping last year, according to its recently released annual report. But profits before tax were almost halved in 2018 from 2017 to a combined pre-tax surplus of $7.1m, down from $12.7m for Eastern Bulk and Stove. The bulker operations of the privately-owned group, which is controlled by Otto Tidem
- Webber may have left but better structures are likely here to stay
Groundbreaking analyst is expected to keep pushing the governance initiative by taking bites at shipping's rotten apple from a different seat
- Naphtha matters more to LR product tankers than IMO 2020
Emerging structural weakness in East Asia naphtha imports paints a gloomy picture for LR product tankers in the long run
- DHT Holdings waits on period deals with chunk of VLCCs set for scrubber retrofits
DHT Holdings is projecting a spike in VLCCs leaving the market in coming months to have scrubbers fitted and is waiting on a rising rates before locking in time charter coverage. Svein Moxnes Harfjeld, co-chief executive of the shipowner, said around 140 VLCCs are set to be fitted with scrubbers, of which today only around 20 have the kit onboard. "There is a good chunk of ships now that will be
- Hapag-Lloyd shares race to record level on back of stellar second quarter
Hapag-Lloyd shares raced to the highest level on record today as the German container line booked a strong second quarter performance. Its stock surged by one fifth as a profitable quarterly performance was coupled with stable full-year guidance. Hapag-Lloyd sticks to forecasts despite geopolitical trouble Hapag-Lloyd eyes opportunities as Hamburg opens up Berenberg Capital analysts led by Joe
- UK seizes nearly $50m in heroin from shipping container
British authorities have seized nearly 400kg of heroin from a shipping container berthed at Felixstowe, leading to three arrests. The drugs, with a street value of roughly $48.5m (£40m) were hidden under a load of bathrobes and towels in a container that arrived in the port 1 August, according to the UK's National Crime Agency (NCA). Marinakis rejects drugs link, vows to fight 'plotters' "It is
- Seaspan sees lower earnings amid higher costs
Bing Chen-led boxship owner's second-quarter revenue declined 2.2%.
- TEN firms up LNG newbuilding at Hyundai Heavy Industries
Greek owner moves to inch up its gas fleet amid talk of business for lone vessel
- Diamond S Shipping eyes 2020 sparkle for tankers after second quarter loss
Craig H Stevenson Jr struck an upbeat note on the tanker market as Diamond S Shipping booked a loss in its first full quarter as a public company. New York's shipping newcomers tipped to shine among 'coiled spring' of maritime stocks Wilbur Ross sells Diamond S stake Diamond S is now one of the world's largest public tanker owners having combined its private fleet with the tankers from Evangelo
- Bonus payments and a buyback as Dorian returns to the black
Dorian LPG has awarded bonus payments to top executives and sprung a $50m share buyback after returning to the black for the fiscal first quarter. The VLGC giant has posted a loss for the past three financial years, but has started its 2020 fiscal year in the black in a rising freight market. Hadjipateras hopeful of VLGC recovery as rates reach three-year highs Commodore Hadjipateras calls for
- Record US crude exports support tanker market confidence, says Kepler
US crude exports raced to new record levels in June, supporting a bullish outlook for the big tanker market, according to Kepler Cheuvreux. Clarksons: hot VLCC rates 'the exception not the rule' Petter Haugen, head of shipping research at Kepler Cheuvreux, said the 3.16m bpd exported in June marked the first time in history US oil output had pushed above 3m bpd. He said the June figures from US
- Mitsui OSK Lines and Cosco Shipping Energy deepen gas carrier partnership
Japanese giant Mitsui OSK Lines and Chinese heavyweight Cosco Shipping Energy Transportation have signed a fresh pact to develop LNG and ethane carrier business. Latest Arc7 newbuilding takes NSR for maiden voyage MOL LNG carrier sets Arctic transit record The two companies have been working together on gas projects for over a decade and the new memorandum of understanding is designed to target
- James Fisher buys Brazilian subsea services company
This is the third firm in which James Fisher has acquired a stake since 2019 began.
- Borealis sticks to same tune with sale of boxship to Simatech Shipping
Owner completes sale of third boxship of this size so far this year
- Hapag-Lloyd sticks to forecasts despite geopolitical trouble
Hapag-Lloyd has carded a stronger than forecast second quarter report and is keeping its full-year forecast stable despite geopolitical uncertainty and a softening Eurozone economy. Berenberg shipping analyst switches sectors Hapag-Lloyd eyes opportunities as Hamburg opens up Maersk blockchain venture grows to cover over half of global ocean container cargo The German container line saw freigh
- MPP operators divided as they reveal their hand on IMO 2020
AAL and Zeamarine opt for low-sulphur fuel, while Spliethoff sticks to scrubbers
- US LNG bunker barge for Shell takes shape
Cargo tanks have been fitted to a 4,000-cbm LNG bunker barge newbuilding in the US that was contracted against a time charter with Shell. Images seen by TradeWinds show the four 1,000-cbm tanks provided by Wartsila being fitted into the barge, which is under construction at VT Halter Marine in Pascagoula, Jackson County, Mississippi. Shell unveils first US LNG bunker barge Shell Trading (US) ag
- Salvor Tsavliris turns insurance broker with SSL Endeavour role
Greek salvage man takes non-executive role as chairman of nascent Lloyd's outfit
- Enviva to start wood pellet exports from Pascagoula
Facility to help meet increasing demand from Asian, European, and Caribbean customers
- Hapag-Lloyd gets tough on dangerous goods misdeclaration
Shippers face fines and criminal prosecution if they don't declare hazardous cargoes.
- POSH books bigger second quarter loss
But Robert Kwok-backed OSV player saw growth momentum for its new subsea and renewables segments
|AUGUST 7, 2019|
- Genesee and Wyoming's second-quarter operating income falls on declining revenues
Genesee and Wyoming sees second-quarter operating income decline amid lower freight revenues from its Australian and European operations and flat year-over-year revenue from its North...
- TTSI buys transload specialist to add Pacific Northwest reach
Southern California drayage and logistics firm looks to add to customer base with deal.
- CBP should update internal policies for inspections, GAO says
DHS concurred with the four recommendations made by the congressional watchdog agency.
- Updated: Lyft sees record revenue and raises its outlook
Lyft reported revenue well ahead of estimates and commented that continued improvement in market conditions, which may mean lower rider discounts and an easing competitive...
- SNC-Lavalin to sell stake in Ontario toll route for C$3.25 billion
The Canada Pension Plan Investment Board is set to get controlling interest in the company that operates the highly profitable Ontario Highway 407 electronic toll...
- OMB confirms hours-of-service rulemaking still under review
Agency will not comment on new publication date until review is finalized.
- 'We're doing what we said we would:' AIT Worldwide CEO talks acquisition strategy
For AIT President and CEO Vaughn Moore, trusting the company's process is more important than chasing any particular outcome.
- No-deal Brexit might lead to empty shelves in U.K. supermarkets
The U.K. imports a bulk of the food it consumes from mainland Europe, and this might be a problem in the event of a no-deal...
- Navistar's mid-decade engine debacle drives customer-focused culture change
Navistar lost nearly half its market share in the middle of the decade because of an engine emissions issues. It has been recovering but now...
- Exclusions for second and third China tariff tranches issued
Plastic containers, polyester yarn, steel pet cages and lawn care equipment are among the goods excluded.
- Oregon senator wants railroads to alert local responders about crude-by-rail shipments
U.S. Senator Ron Wyden's (D-Oregon) new bill would require the railroads to supply information on crude volumes to emergency responders, and it would mandate that...
- Kottke Trucking acquires Florida-based trucking fleet
Kottke Trucking, an interstate company focused on refrigerated and dry van transportation, recently acquired Davenport, Florida-based Wayne T. Fellows, which specializes in refrigerated less-than-truckload and...
- Pound ground: FedEx draws line in the sand, tells Amazon to drive off
FedEx, tired of jumping through hoops for Amazon.com at non-compensatory rates, cuts the ground-delivery cord with the e-tailer
- Freight All Kinds - the Logistics of Shipping Racecars
In auto racing, the racecar is the star and teams spend a lot of effort getting to the race on time. But they also need...
- Seaspan: Containership demand cushioning trade war impact
Seaspan says high demand for containerships has shielded it from the U.S.-China trade war.
- Today's Pickup: Britain's food industry warns of Brexit shortages
A hard departure from the European Union will hit availability of fresh foods and increase costs as British supply chains contend with port delays and...
- Dye set to deliver container availability recommendations
FMC Commissioner Rebecca Dye is scheduled to deliver her demurrage and detention recommendations to her fellow commissioners on Sept. 3.
- Cathay Pacific latest airline to report struggling cargo segment
Cathay Pacific is the latest in a string of airlines to cite trade tensions as the reason for plummeting cargo segments.
- PACCAR settles $1.7 million OFAC penalty for DAF misstep
PACCAR agreed to a $1.7 million settlement from the U.S. Treasury Department that its European subsidiary, DAT Trucks, illegally engaged in the sale 63 trucks...
- Indian startup FreightBro: leveling the playing field for freight forwarders
FreightBro is a digital enabler that helps digitalize and automate several manual operations within the shipping industry, tailored to suit small- and mid-tier freight forwarders.
- Hapag-Lloyd: First half 'solid,' with higher volumes, rates
Hapag-Lloyd says it outlook for the second half of 2019 is unchanged even if it has to deal with more trade restrictions.
- Updated: Roadrunner sees another rough quarter, "narrows strategic focus"
Roadrunner Transportation Systems reports another large operating loss and announces that it will narrow its focus to its logistics and asset-light LTL segments.
- Houston firm invests in technology to transform cow manure into fuel for heavy duty truck fleets
EIV Capital, a Houston firm that invests in energy businesses, recently helped raise $75 million in funding that will research turning dairy cattle's recycled cow...
- Firm helps U.S. companies bypass China tariffs via Canada (with video)
Stalco, a Toronto third-party logistics provider, takes advantage of duty-free limits to legally fulfill online orders of Chinese goods to consumers in the United States...
- PORT REPORT: Up! Up! Up! Chinese ports record first half increase in box throughput
Chinese port throughput volumes (all cargoes) for the first half of 2019 are up 7.3 percent compared to the first half of last year, according...
|AUGUST 7, 2019|
- ADNOC buys 10% stake in Vitol-backed energy storage firm VTTI
VTTI owns 15 storage terminals across 14 countries, with a capacity to hold a combined 60 million barrels (9.5 million cu m) of crude and products.
- FUTURES 5: Oil settles lower as US crude build weakens supply/demand fundamentals
Oil price declines extended for a third straight session Wednesday after a surprise US crude build exacerbated increasingly dim supply-and-demand outlooks.
- US, Saudi Arabia say they are working together on oil markets amid Gulf tensions
Falih and US energy secretary Rick Perry met Tuesday in Washington to discuss the stability of oil markets and the kingdom's hosting of the G20 presidency.
- OPEC July output slumps to 5-year low on Saudi overcompliance
Compliance with production quotas rebounded in July, mainly because Saudi Arabia pumped way below its quota, making up for under-compliance by Iraq.
- REFINERY NEWS: Par Pacific Holdings sees Singapore market conditions improving ahead of IMO 2020
Par has major turnaround planned next summer at the Hawaii plant, Israel said.
- ANALYSIS: Canadian heavy crude futures rise in Q4 as IMO 2020 concern wanes
The improving outlook for WCS in the fourth quarter is due to "continued inventory draws and potential increased pipeline capacity," a trader said.
- FUTURES: Crude steady amid US stock draw, trade tensions
"Despite the PBOC moving to strengthen the yuan after Monday's sudden depreciation, the market remained on edge," ANZ analysts said.
- TRADER NOTE: IBIA appoints Alex Tang as regional manager for Asia
Alex Tang joins IBIA from the AVA Marine Group Pte Ltd. where he was managing director.
- USGC HSFO assessed at lowest level since 2017 as buyers wait on sidelines
A decline in buying interest, coupled with a return of selling interest from multiple parties, has caused this sudden drop in the USGC fuel oil market.
- Fitch cuts oil price forecasts as trade tensions escalate
The ratings agency expects Brent prices to average $67/b in 2019, falling to $65/b in 2020 and $61/b in 2021,it said in a monthly oil outlook note dated August 2.