|JULY 18, 2019|
- China exports and imports fall, but less precipitously than expected
- US-China trade dispute drags down box volumes at Port of Long Beach
- KMTC feeder ship ravaged by chemical fire is sold for scrap
- Venezuela makes oil transfers in waters off Malaysia as Iran does
- Nike supplier quits Vietnam after quitting China - finding tariffs inescapable
- Huawei Technologies to invest US$3.1 billion in Italy in 5G upgrade
- China re-shuffless trade team, agrees to buy US produce, but doesn't
- Hapag-Lloyd and ONE announce Mideast-India-Africa Express service
- Eco-regulations and tough market drive 30-truck carrier to the wall
- China's approval clears last hurdle to MacGregor buying TTS Group
- Nippon Paint Marine reflects cool tones on ship coatings in darker hues
- Weekly rail freight traffic for week ending July 6 down 5.3 per cent
- FedEx still world's top cargo carrier, Emirates is in 2nd place, says IATA
- Hard hit Korean Air Cargo halts cargo handling at three terminals
- Arbitration panel rules it has jurisdiction over Agility's dispute with Iraq
|JULY 17, 2019|
- CMA CGM India receives ISO 9001:2015 certification for its Quality Management System
- Container Owners Association publishes "Guide to Container Tracking & Telematics Technology"
- Germany accedes to ship recycling convention
- Persian Gulf designated high-risk region for ships
- Exemption from charges for late filing of Bill of Entry
- Sharp fall in foodgrains imports, says Agriculture Minister
- 'Capacity expansion, enhanced capacity utilisation of anchor customers & significant increase in third-party cargo handling has helped Essar Ports consolidate its position'
- Iron ore traffic surges year-on-year during April-June
- Allcargo Logistics' Kolkata CFS shows promise to boost ex-im trade through West Bengal
- Lactalis India signs on DHL SmarTrucking as logistics partner
- Govt to reduce licencing time for sensitive, dual-use exports: Additional DGFT
|JULY 17, 2019|
- BAF calculator may help ease uncertainty over looming IMO 2020 fuel rule
- ANA Cargo looks to first B777F to lift its spirits as trade war impacts demand
- Marken expansion pushes UPS to forefront of pharma clinical trials sector
- A tale of two railroads: CSX and CP report contrasting results
- Multiple offers lodged for Prestwick Airport, government reveals
- Supply chain radar: Mr Market is betting on Hapag-Lloyd + Evergreen, or... not
- Shippers bemoan liner capacity cuts this peak season
- On the wires: CSX hammered - 'Thank you, folks'
- Supply chain Q&A: 'people, not technology, make or break a business'
- Supply chain radar: XPO Logistics execs' emoluments under the spotlight
|JULY 17, 2019|
- Cook Inlet puts newly acquired tugs to work
Cook Inlet Tug & Barge (CITB), an independently managed subsidiary of Foss Maritime Company, reports that operations on Alaska's North Slope are officially underway for the 2019 ice-free season. Three newly acquired
- Crowley promotes Peter Sutton
Crowley Maritime Corp. has promoted Peter Sutton to vice president of health, safety, security and environment (HSSE) and operations integrity for the company's Shipping business unit. In his role, he will lead
- Arrest in illegal charter boat case
A Michigan man has been arrested on federal criminal charges for allegedly conducting illegal charter boat operations on Chicago waterways. According to a criminal complaint and affidavit filed in U.S. District Court
- Canada awards Davie, Seaspan frigate maintenance contracts
Canada has unveiled plans to invest C$7.5 billion (about US$5.74 billion) in maintaining the Royal Canadian Navy's fleet of 12 Halifax-class guided missile frigates between now and their planned retirement in the
|JULY 17, 2019|
- Diverted Iranian tanker's trading patterns raise suspicion
Iranian forces towed the tanker Riah into Iran's waters after receiving a request for help, Foreign Ministry spokesman Abbas Mousavi...
- Top Ships seals $25.6m deal with Chinese financier
Nasdaq-listed tanker owner Top Ships is using a Chinese financier to reduce the costs of its debt on three ships
- Oil tanker investments at risk from decarbonisation
A new report by MSI foresees that the number of oil tankers is likely to decline by a third between...
- HSFO bunker demand to more than halve after 2020
The forecast of a more than halving of demand is based on 90-95% compliance with IMO 2020, which will undermine...
- Germany accedes to Hong Kong convention on ship recycling
International Maritime Organization convention now supported by 13 countries, but ship-recycling nations still lacking
- Unifeeder to offer eight weekly sailings from Sweden
New service is said to be aimed at providing multimodal routing options for Swedish exporters in a country that has...
- Maritime Intermodal starts new rail services from London Gateway
Additional trains at London Gateway will provide greater scale as container volumes at the port continue to grow
- Overcapacity still putting pressure on container rates
Scrubber refits will take out some capacity ahead of IMO 2020, but pressure will remain in charter rates for smaller...
- Indonesia to divert more LNG cargoes before demand ramps up
Energy consultant WoodMac predicts that Indonesia will require LNG imports only from the 2030s. That would predispose the country's national...
- Logistics firms face risks in adopting new technology
Logistics firms are still struggling to implement established technology and services
- Digital ship funding platform brings on board Greek consultancy
Greek shipping finance consultantancy will handle 'part of the analytics' for new electronic platform founded by Dagfinn Lunde, Marina Tzoutzouraki...
- Daily Briefing
British-flagged ships avoid Gulf amid Iranian threats | Legal bid to block release of seized Iranian tanker | China LNG...
- FortisBC secures first-term sales of Canada LNG to China
FortisBC looks set to ramp up LNG exports from the Tilbury project, which underwent expansion to boost its liquefaction and...
- Iran says missing tanker was rescued and towed for repairs
The Riah had been regularly shuttling between United Arab Emirates and Gulf of Oman for months before it deviated off...
|JULY 17, 2019|
- US truckload pricing battle heats up
- Seasonal project cargo reaches Russia's Amur gas plant
- PierPass fee increase takes effect Aug. 1
- CSX says lower truck rates hurting intermodal
- Funding to fuel Traxens' container line orders
- Maersk taps into Indian fruit export growth
- Private terminal operators decry India's coastal incentives
- Still no timeline for ILWU election do-over
|JULY 17, 2019|
- Pioneering LNG bunker vessel prepares for key gas trials
Test of KC-1 system's performance will be carefully watched by two other firms embroiled in row over the technology
- 'Wing in a box' trials go deeper for wind-assisted propulsion
eConowind makes first sale of retrofit system to Dutch shortsea operator Van Dam
- Asian buyers shun Iranian crude as US sanctions kick in
Iranian oil sales to Asia have all but dried up as sanctions waivers expire
- Sun Enterprises books aframax tanker newbuildings at Daehan
Two-ship deal at South Korean shipyard marks Greek owner's return to the sector
- China cracks down on stealth ships calling at Yangtze ports
River patrols target foreign-flag general cargoships that turn off transponders to avoid entry formalities
- The dark trade of 'hijacked' product tanker Riah
Tanker caught in Middle East Gulf hijack scare spent a lot of time hiding its location, so what was it up to?
- Wellard gets $22m in finance deal for livestock carrier
Australian livestock exporter is selling vessel to pay bank and bondholders
- First LNG freight swap executed, ushered along by Affinity
Total Gas & Power and Glencore executed the trade, facilitated by shipbroker Affinity
- Germany ratifies Hong Kong Convention
Hong Kong Convention moves 'a step closer to its entry into force'
- First Ship Lease converts $7.25m in bonds
First Ship Lease Trust (FSL) has almost 175 million more shares on the Singapore Exchange. FSL Trustee Management, acting as trustee-manager of the Roger Woods-led diversified owner, has exercised its right to turn $7.25m in redeemable 7% convertible bonds into stock at $0.04157 per share. Topouzoglou move to up stake in First Ship Lease Trust The new units shall be equal to FSL's issued shares
- Diana Shipping fixes panamax on period as spot rates hit six-year highs
Diana Shipping has fixed one of its panamax bulkers on a short-term period contract as the spot market reached its best levels in almost six years. Panamax bulker market posts massive gains but correction looms The 75,700-dwt Selina (built 2010) was fixed to Hong Kong-based Ausca Shipping for a period of seven to nine months. The gross rate is reported at $11,750 daily, minus 5% commission for
- Shanghai and Dubai add to squeeze on London as leading shipping hub
London's position as a top three maritime city globally is coming under pressure from both Shanghai and Dubai, according to the latest rankings. While still the dominant shipbroking hub, London was pushed out of second spot on the Xinhua-Baltic International Shipping Centre Development Index by Hong Kong last year and now the two other cities in the top five are closing in. London falling: UK sh
- Attica in €175m bond sale to roll over debt, buy scrubbers
Greece's biggest ferry company to spend up to €26m on marine exhaust gas cleaning systems
- Eimskip bids to halt competition probe
Icelandic owner goes to court to stop "illegal" investigation.
- Royal Caribbean cancels Puerto Rico call amid political strife
Royal Caribbean Cruises has cancelled a planned call to San Juan, Puerto Rico, amid political strife in the US territory's capital city. Thousands of protesters on Monday marched the city's streets, calling for governor Ricardo Rossello to step down two days after the reported discovery of inappropriate emails with closest aides. "In light of current unrest in San Juan, Puerto Rico, we have canc
- Svitzer strikes end as tug crews agree pay deal
The long-running dispute has caused 11 strikes by members of the Nautilus trade union.
- LPG and tanker stocks race ahead of S&P 500 as recovery unfolds
Tanker and LPG shipping stocks are outperforming the S&P 500 this year despite the wider industry being out of fashion on Wall Street. While LNG, car carrier and chemical tanker shares have struggled to date in 2019, overall shipping equities are up 15%, according to data from Clarksons. The LPG peer group has been the shipping world's top performer this year, with John Fredriksen and Stolt Niel
- Hyundai Heavy workers vote to strike
South Korean shipbuilder faces more disruption over wages.
- Havyard Group bondholders sign off on waivers
Havyard Group's bondholders have joined other creditors in providing covenants waivers for the company. The move means the Norwegian shipbuilder now has waivers in place for all its key financial arrangements, after uncovering "significant accounting deviations" that sparked the breach. Havyard faces covenant breach after accounting 'deviations' Canadian owner behind Havyard PSV resale Just
- Russian cargoship crew running out of food
Master also says seafarers on detained cargoship have not been paid.
- Liberalisation will do little for China's struggling port agencies
'Chaotic' competition and thin margins make it unlikely new players will rush in
- Rising US energy exports set to spark demand for both large tankers and LPG carriers
Hike in output anticipated to drive the need for 50 extra large tankers and a similar number of big gas carriers
- JGC to build LNG ship-fuel plants
Japanese engineering company wins contract for Total refinery in Oman.
- Energy transition to have 'radical' impact on shipping markets and asset values
Tanker and bulker owners could see asset values plunge as a global energy transition slices demand for their vessels and the world fleet shrinks, Maritime Strategies International has warned. While containership owners will escape largely unscathed in the doomsday scenario as coal and oil become increasingly sidelined, shipping lenders will also be caught in the fall-out, MSI predicted. Shell a
- Swedbank cuts dividend to strengthen capital
Swedish owner chops payout from 75% to 50% of profit.
- Idle boxship fleet grows as scrubbers fitted
Alphaliner identifies 118 vessels out of action due to yard calls.
- MSC cracks down on shark fin trade
Swiss liner giant clarifies zero-tolerance policy.
- Clyde & Co shipping lawyers suspended for alleged financial misconduct
Two shipping lawyers have been suspended from Clyde & Co's London office while the law firm investigates suspected financial misconduct by the pair. Ince quartet head to Clyde & Co The pair include a partner at the firm and an associate, TradeWinds has learned. Clyde & Co told TradeWinds: "We can confirm that we have referred two solicitors to the Solicitors Regulatory Authority of England & Wa
- The debates that could reshape climate rules and the IMO itself
Empowering developing economies while lifting restrictions on the press and lobby groups will likely change how the regulator makes decisions
- Standard Club turns P&I focus on mega-boxship blazes
P&I insurer warns members of problems linked to ultra large boxship fires after run of recent incidents
- Spar Shipping posts doubling of annual profit
But Norwegian bulker owner is not optimistic about 2019 and is now pursuing a spot-oriented charter policy due to prevailing weak markets
- Hunter Group hires Swedbank executive as new finance chief
Arne Fredly's Hunter Group has hired Swedbank corporate finance executive Lars M Brynildsrud as its new chief financial officer. Charters behind double VLCC strike by SK Shipping emerge as price focus intensifies Koch strikes VLCC charter that raises questions over Hunter sale Brynildsrud will work alongside chief executive Erik Frydendal who had previously held both positions. Hunter has ma
- Khamenei: UK will pay for "wickedness"
Iranian supreme leader reiterates retaliation threat after Grace 1 seizure.
- Drugs ship released after MSC pays $50m
MSC Gayane goes free after security deposit and surety bond handed over to US authorities.
- Differing fortunes for capes and handies in post IMO 2020 world
Capesizes set to fair better in post 1 January, with handies set to suffer, says analyst.
- Keppel bags dredger and FPSO contracts worth $95m
Deals mark third time respective customers have placed contracts with Singapore group
|JULY 17, 2019|
- 'Clear line in the sand' on Huawei
A bipartisan group of U.S. lawmakers introduced legislation that would require congressional approval to remove Huawei from the Commerce Department's Entity List.
- Mexico marks vehicle export record
A record number of Mexican-made vehicles cross the borders to be sold in North American and Asian markets.
- CBP making gains on fentanyl trafficking
A House subcommittee told Tuesday CBP fentanyl seizures thus far in FY19 equal all of FY18.
- WTO: US violated trade rules
The World Trade Organization Appellate Body finds against prior U.S. CV duties on China.
- Executive Moves
- Canadian Pacific's Q2 profit jumps
- Cambodia port finds 83 containers of rubbish
- CSX lowers revenue outlook
- Long Beach gets 'Texas U-turn'
- Mexico eyes new Manzanillo terminals
- Iranian auto parts execs fined
|JULY 17, 2019|
- FUTURES 5: Oil prices ease following steep US refined-product build
Oil futures settled lower Wednesday after US Energy Information administration data showed a surge in US refined product inventories in the wake of Hurricane Barry last week.
- Tight HSFO supply in Singapore boosts arbitrage opportunities
Tight supply of high sulfur fuel oil in Singapore is boosting arbitrage economics for deliveries to Asia from Europe and Russia, but the timeframe for opportunities may be limited, market sources said this week.
- Bunkering operations curtailed at Spanish port of Las Palmas
Bunkering operations at the Spanish port of Las Palmas in the Canary Islands have been reduced due to bad weather, sources said Wednesday.
- Unerco Petroleum launches as new bunker fuel supplier in Turkey
- Iran claims missing small tanker in Strait of Hormuz has been taken for repairs
- Iran's exports nosedive as it starts to build oil flotilla
China is continuing to import Iranian crude, much of it in the form of debt repayment.
- ANALYSIS: Strong gasoil EFS fails to dent newbuild VLCC East-West fixtures
"The arbs are now shut but I have the impression that there is a rather good amount of product here," a Europe-based trader said.
- State oil giants raise trading game in battle for global flows
Middle Eastern, North African NOCs are going head to head with independent oil traders and integrated oil majors to capture a larger slice of the global energy commodities market.
- US readies plan for escorting oil tankers through Strait of Hormuz
"We do need to internationalize an operation to enhance maritime security," Hook said.
- TRADER NOTE: Fuel oil trader Hsieh Dean Horng leaves PetroChina
Hsieh had worked at the company since 2007.
- Measures to transition to IMO 2020 to gain pace in Q3: Fratelli Cosulich CEO
Come 2020, another issue will be who will control the supply chain, Cosulich said.
- DUBAI FUTURES: Sour crude resists Brent crude slide on US-Iran rhetoric
"The possibility of US-Iran rapprochement seems to be deflating geopolitical risk right now," Tradition Energy analyst Gene McGillian said.
- Singapore 380CST HSFO Aug/Sep rebounds as focus shifts back to supply tightness
"The market has stabilized after the plunge," a Singapore-based trader said.
- New EU Commission president plans 2050 EU net-zero CO2 law
"Emissions must have a price that changes behavior," Ursula von der Leyen told the European Parliament earlier on Tuesday.
- Compliance with IMO 2020 likely around 90%-95% in initial years: consultant
"There will be a lot of whistle-blowing activity. But there will be non-compliance for sure," Tolson said.
- Japan 'not considering' sending forces to defend Strait of Hormuz: minister
"At present, we are not considering sending the Self-Defense Forces," Iwaya said at a press conference in Tokyo.
- TRADER NOTE: Marco Perassolo joins Gunvor as LSFO trader
Perassolo previously worked as a fuel oil trader at Totsa.