|AUGUST 28, 2019|
- Chinese ports' July box throughput rises 6.9pc YoY to 22.77m TEU
- CMA CGM sticks to green path and says no to Northern Sea Route
- Biggest US box ports achieve 2.7pc YoY increase in import volumes in July
- Ports of LA, Long Beach work on agreement to boost their competitiveness
- POLB to study impact of port's automation on city as fears of job cuts mount
- P&I clubs accused of providing insurance to sanctioned vessels
- Vietnam's container throughput hits a record 12.93m TEU in 2018
- Pirates still holding 8 crewmen abducted from cargo ship in Cameroon
- Amazon to take equity stake in Canadian airline Cargojet
- JAL resumes services as nation's airlines seek to boost cargo business
- Panalpina announces changes to board of directors after DSV merger
|AUGUST 27, 2019|
- Advisory on shipments to/from Venezuela
- APL announces enhancements to Asia Australia Express 1 & Asia Australia Express 2 services
- Global Logistics celebrates 9th anniversary of Direct Console service from Japan to India
- NYK Group to build new heavy-lift vessels
- OOCL announces service connecting South-East India with North Europe
- Overweight Surcharge on cargo bound for Chittagong extended
- DGTR recommends 5 pc increased duty on Malaysian palm oil imports
- Motherson Group launches "SAMRX" to provide technologically advanced transportation solutions supporting "Make in India"
- A third of $ 5-trn economy should be exports, says ex-President
- PM Modi tells Donald Trump that $ 4 bn worth of imports in pipeline
- Survey estimates GDP growth at 6.9 pc in 2019-20
- Proposed Traders Market to create first smart Freezone marketplace in Middle East
|AUGUST 28, 2019|
- The last mile in LA
- Turkey receives the first hybrid locomotives
- Rail transport of bulk liquids increases in Africa
- Time to end air cargo anti-trust dispute
- Yusen Logistics opens new office in Koper (Slovenia)
- Atlas Air mourns passing of board chairman Robert Agnew
- The calm before the storm?
- Port in Mayotte in the Indian Ocean turns smart
- 68,000 wagons to have digital technology by 2020
- ECS opens office in Porto
- Halifax Stanfield begins building air cargo logistics park
- Nicolas Gauthier moves from France to Ecuador
- Improving port conditions in Honduras
- Locomotives unit will be sold to Chinese manufacturer
- Record revenue for Lindsay Australia
- A crane returns to the skies
- Sven Vangermain to manage sales in Middle East and Africa
- "Curiosity of the Day"
|AUGUST 27, 2019|
- OOCL drives $139m OOIL H1 profit for Cosco, but falls below industry par
- Macron claims slow-steaming the best way to cut box ship emissions
- Vietnam 'has bitten off more than it can chew' as it struggles with growth
- An open letter to container lines: please stop fooling yourselves
- Russia's VD Group fights crisis and restructures business
|AUGUST 27, 2019|
- NYK Bulk orders next gen heavy lift duo
Japan's NYK Bulk & Projects Carriers Ltd. (NBP) has signed a contract with Nanjing Jinling Shipyard Co. Ltd., which is part of the China Merchants Group, to build two next-generation energy-saving heavy-lift
- Gulf Island books TxDOT order for 300 ft hybrid ferry
Gulf Island Fabrication, Inc. (GIFI) reports that its Shipyard Division has received an award for the construction of a 495 passenger, 70 vehicle, double-ended ferry for the Texas Department of Transportation (TxDOT).
- VIDEO: Dutra launches hydraulic dump scow
Corn Island Shipyard, Grandview, Ind. has launched the 6,000 cu.yd, Jones Act compliant hydraulic dump scow ES15 for San Rafael, Calif., headquartered Dutra Group, The barge has been christened and commissioned and
- Crowley orders 55,000 barrel ATB
Crowley Fuels has signed construction contracts to build a 55,000-barrel, articulated tug-barge (ATB) that is specifically designed to serve the Western Alaska market with delivery of clean fuel products. The 410-foot ATB
|AUGUST 27, 2019|
- Frontline targets growth in VLCCs
The John Fredriksen-owned company is continuing to trade in the Middle East with 'heightened security', says chief executive Robert Macleod
- Venezuela-China oil flows fail to stem plunging tanker demand
US sanctions against Venezuela are hammering down its oil exports, but it is maintaining shipments to China
- At least three dead after ferry capsizes off Cameroon
A search and rescue operation has saved over 100 people but number of missing remains unclear
- Swedish Club first half combined ratio hits 108%
Gothenburg-based International Group affiliate reports an underwriting loss of $2.2m compared with a surplus of $4.7m last time round
- Carrier results demonstrate benefits of consolidation
Despite economic headwinds, container lines have managed capacity sufficiently well to ensure revenues have grown
- Load factors: Carriers failing to address trade imbalance
MDS Transmodal forecasts average load factors on the Asia-Northern Europe trad will fall from around 74% in the second to...
- Frontline well-positioned for tanker upturn
The company's long-range two tanker Front Altair, which was hit by an explosion in the Strait of Hormuz in June...
- Monjasa buys five tankers for 2020 supply
The five ships have an average age of ten years and can segregate between two and six different types of...
- Cork boosts customs facilities ahead of Brexit
Irish port is working with government and EU to ensure trade flows are not disrupted in the event of a...
- Grimaldi signs up to environmental charter
Italian shipowner joins forces with French owners in pushing for better environmental performance for shipping
- Citigroup promotes Michael Parker
Citigroup has promoted Michael Parker to chairman of its shipping and logistics division, with Shreyas Chipalkatty stepping up into the...
- BPCL to invest in FLNG terminal
The company is betting big on gas business in anticipation of energy consumption basket undergoing change as focus shifts to...
- Daily Briefing
The worst may be over for LNG shipping | Tariffs on US crude imports will shake up VLCC market |...
- Tariffs on US crude imports will shake up VLCC market
The tax will reduce the competitiveness of Chinese petroleum product exports and disadvantage the Chinese energy industry ahead of the...
- Allianz Marine moves closer to merger with Pacific Radiance
Pacific Radiance has also asked for an extension of debt protection of its creditors beyond the current deadline of September...
- The worst may be over for LNG shipping
Rates have rebounded from near-three year low and will continue to rise, though rounding up the year at far from...
- Cosco Shipping boxship damaged in collision in Vietnam
Lloyd's List vessel tracking data shows the vessel was supposed to head west and arrive in Piraeus in Greece on...
- Argentina promotes unrealistic expectations regarding Vaca Muerta LNG, says consultant
Although the development of several projects has proven the economic viability of the resource, production is still not enough to...
- Maryland Port Authority eyes increased throughput for port of Baltimore
The Maryland Port Authority has announced plans for dredging projects aimed at improving container throughput, along with other efforts to...
|AUGUST 27, 2019|
- "Very soft" Mexican peak season expected
- Tariffs slow US wind project momentum
- JOC VIDEO: Blockchain, digitalization standards for container shipping
- Cork port doubles customs capacity ahead of Brexit
- Logistics software provider Turvo adds embedded payment tool
|AUGUST 27, 2019|
- Analysts divided on Frontline earnings
Frontline's second quarter performance has earned disparate reviews from analysts. The John Fredriksen-backed tanker owner Tuesday reported $1.08m in net earnings for the three months ended 30 June, with most ship classes surpassing break-even rates ahead with the IMO 2020 emissions regulations fast approaching. Frontline sets sights on VLCC growth Frontline 'open for business' after $675m Traf
- ITF slams US over threats to revoke seafarer visas
Unfair to expect seafarers "to have any influence over the destination of a vessel or its cargo", a top official says
- AIDA Cruises, Hapag-Lloyd top green tech ranking
AIDA Cruises and Hapag-Lloyd are leading the way on efforts to sail environmentally friendly ships, according to experts. German environmental group Nature and Biodiversity Conservation Union (NABU) has placed 6,600-berth AIDANova (built 2018) on top of the roster for using LNG for power. Costa Cruises' 6,522-berth Costa Smeralda (built 2019), also owned by US-based Carnival Corp, shared the top
- Greek shipowner, crew convicted in air pollution case
Fines imposed after repeated violations of rules banning the burning of high sulphur fuel
- UK and Iran dispatch warships to Middle East waters
A British ship heads to the Middle East Gulf, while an Iranian one is sent to the Gulf of Aden
- Frontline sets sights on VLCC growth
CEO Robert Hvide Macleod says big tankers are the next area for fleet expansion after Trafigura deal.
- Performance Shipping sells panamax boxship
Performance Shipping is selling one of its small panamax boxships to an unnamed buyer as it continues to reduce its exposure to the container market. Container market tilts in favour of liner operators Performance Shipping cuts quarterly loss The owner, formerly known as Diana Containerships, has signed a memorandum of agreement to sell the 5,042-dwt Pamina (built 2005) for $9.13m before commi
- Owner and master charged over bulker reef spill
Globex and Kuk Hyun Jang face trial in Australia.
- PSV owner Standard Drilling bounces back into profit
Norwegian owner says market was strong in second quarter.
- Reach Subsea returns to profit as pricing improves
However, year-on-year activity levels have fallen, according to the subsea vessel and services company.
- Busch eyes IMO 2020 'dislocations' as Navig8 ups profit
Private owning company of Navig8 Group enjoyed stronger quarter to 30 June.
- Soderberg in at GEV as Jensen quits for new job
Former Frontline boss replaced by Thomas Soderberg as Australian owner's head of shipping.
- Hadjiyiannis firm linked to purchase of MOL VLCC
Greek-Cypriot owner Andreas Hadjiyiannis is believed to have snapped up a Japanese VLCC at a bargain price. Athens-based brokers report his Hellenic Tankers outfit is the buyer of MOL's 306,400-dwt Oriental Jade (built 2004). Market rumours last week attributed the deal to Asian interests at a price of $29m. According to information circulating since then, however, the Oriental Jade was acquired
- Axxis Geo Solutions wins $4m seismic survey deal in Brazil
Axxis Geo Solutions (AGS) has announced its first major contract since taking over Songa Bulk's listing on the Oslo Stock Exchange in July. Songa Bulk's seismic merger is not Blystad push into offshore Havila PSVs fixed on period charters to Axxis Geo Solutions SAExploration has awarded the Houston-based seismic ship operator a deal for ocean-bottom node (OBN) source work in Brazil with a mini
- OOCL turns around loss in first half
Cosco-owned line boosted by higher liftings and revenue.
- North P&I Club sets up shop in the heart of London
Newcastle-based P&I mutual joins International Group members with representation in the UK capital
- Buyers circle third NWS LNG carrier in slow fleet sell-off
Two of seven project vessels have been sold but another deal has failed
- Korea P&I Club's conservative strategy keeps AM Best on side
Rating agency retains Seoul-based insurer's 'A- excellent' score despite two high-cost claims this year
- Monjasa swoops for five bunker tankers as 2020 looms
Danish owner extends ownership of supply chain in core markets.
- 90 people missing after ro-pax capsizes
Cameroon says bodies still stuck in wreck of Austrheim.
- Front Altair will be back in business in fourth quarter
Frontline tanker damaged by torpedo attack undergoing repairs in Dubai.
- Frontline seals new loan in 'compelling' market
Norwegian owner finances new suezmax as revenue jumps in second quarter.
- Yangzijiang looks to reassure investors in conference call
Troubled Chinese shipbuilder says "customers and bankers remain supportive"
- NYK signs for heavy-lift ships in China
Japanese owner picks Nanjing Jinling for two new eco-vessels.
- Indonesian supramax feared lost with all hands
Reports claim ship carrying nickel ore has been out of contact for almost one week
- Bore books LNG-fueled Ro-Lo trio at China's Wuhu
Spliethoff Group-backed Finnish owner bolsters environmental credentials with latest newbuilds
- Hyundai Samho bags VLGC brace and product tanker trio
South Korean yard books five ships in deals that add over $330m to order backlog
|AUGUST 27, 2019|
- OmniTRAX acquires shortline railroad assets in northern Ohio
The acquisition seeks to build upon the company's rail assets in Ohio and expand its presence into the Port of Cleveland.
- McLane subsidiary exempted from 30-minute rest rule
Roughly 3,580 drivers will be affected by the FMCSA's exemption
- Tropical Storm Dorian could flood Puerto Rico, then Florida
Notice to Puerto Rico: "The biggest problem [with Tropical Storm Dorian] will be the rain."
- Profits plunge at AusPost
Australia Post, a government-owned post and freight service, has reported revenues of just under A$7 billion but has experienced a massive fall in profits.
- Ted Alling, partner of Dynamo Ventures, on Chattanooga's startup culture
Dynamo Ventures is a Chattanooga-based supply-chain venture capitalist company. Ted Alling, a partner at Dynamo, sits down with FreightWaves founder and CEO Craig Fuller to...
- December expiration of AOBRD grandfather clause unlikely to cause capacity crunch
Individual carriers may face consequences for putting off the switch to ELDs, but the overall market is not expected to take a hit.
- Georgia verdict against steel hauler may be the biggest ever... by a lot
The gruesome deaths of five family members leads to what may be a record-breaking award.
- Dana acquires Canadian electric truck firm Nordresa
U.S. auto parts maker purchases Quebec firm that produces electric drive trains and integrates them into commercial vehicles.
- Cargolux finances another freighter
The Luxembourg-based airline takes an unusual path to pay for its latest B747-ERF.
- Central figure charged with theft in autonomous vehicle trade secrets case
Anthony Levandowski, a star engineer at Google and Uber, is charged with 33 counts of theft and attempted theft in a federal indictment unsealed Tuesday,...
- UK watchdog group launches aviation merger inquiry
MUFG Bank's anticipated acquisition of the aviation finance business of DZ Bank draws scrutiny.
- Mexican government closing foreign trade offices as part of budget cuts
As part of an Austerity Law passed by the Mexican legislature in May, commerce officials in Mexico recently ordered the closure of six foreign commercial...
- Criminal charges filed against Wallenius Wilhelmsen
Norway's Wallenius Wilhelmsen, a major global ocean carrier of vehicles, now faces a criminal prosecution in Australia after the local competition regulator filed charges against...
- The costs of Bernie Sanders' "green deal"
2020 presidential candidate Bernie Sanders released details on his proposed $16.3 trillion Green New Deal on August 22. This deal would cover a range of...
- Commentary: Is intermodal rail stalling?
Market Voice Jim Blaze writes about rail intermodal and what is happening to this area of the railroad sector.
- Tracking severe weather, Tropical Storm Dorian (forecast video)
Tropical Storm Dorian heading for Puerto Rico, Dominican Republic.
- Air Canada's Transat purchase faces additional government scrutiny
Transport Canada says C$720 million deal "raises public interest issues" and requires review that could last until May 2020.
- Bob Costello at McLeod: healthy economic activity but slower growth
Bob Costello still believes in the driver shortage.
- Heartland Express flexes its balance sheet again with Millis acquisition
Heartland Express once again uses its strong financial position to acquire. The carrier has a pattern of building cash balances and finding accretive tuck-in deals.
- Logistics businesses: adopt technology or revenue will slide
Transport and logistics businesses need to seriously consider investing in digitalization if they want to stay afloat in this rapidly evolving market.
- Today's Pickup: Transflo expands offerings for trucking
Transflo has bundled an ELD, weigh station bypass, navigation and more into a single solution available on driver's mobile devices.
- FourKites offers shippers tool to help identify and share unused capacity
FourKites has introduced a new analysis tool to help shippers identify unused capacity in their trailers.
- Shipping wind turbines is not a breeze
It takes a year of advance planning and up to 10 loads to move a single monster turbine.
- Port Report: OOIL sees first-half profit thanks to rate boost
Rates manage to outperform volume drops as carrier swings to profit.
|AUGUST 27, 2019|
- Russian refinery maintenance triggers surge in exports from Ust-Luga
Russia's medium sour Urals crude will see a September surge in volumes loading from the Baltic terminal of Ust-Luga, as more oil is available for export due to maintenance at several of the country's domestic refineries.
- ICE LSGO speculative net length up 757 contracts on week
Speculative net long positions for ICE low sulfur gasoil futures were up 757 contracts to 63,435 in the week to August 20, data from ICE showed late Friday.
- Russia domestic fuel oil prices fall, cutting premium to netbacks
Russian domestic fuel oil prices tumbled at a number of refineries this week, cutting the domestic price premium over export netbacks.
- PDVSA sends Cubametales another 150,000 barrels of 0.5% sulfur diesel in August
PDVSA has sent Cuba's Cubametales an additional 150,000-barrel shipment of 0.5% sulfur diesel in August, an official with the Venezuelan state company said Tuesday.
- Iran can see maximum crude output only in three days: oil minister
Iran is able to get back to its pre-sanctions oil production level in a matter of three days once the limits are lifted, the country's oil minister, Bijan Zanganeh, said Tuesday, according to state news agency IRNA.
- FUTURES 5: Crude rallies on crude stock draw, tropical storm concerns
Crude futures rallied Tuesday, bolstered by a larger-than-expected US crude inventory draw, and concerns that Tropical Storm Dorian might disrupt refined products supplies in the Caribbean.
- Bunker supplier Monjasa adds five barges to fleet
Monjasa supplied 4.1 million mt of bunker fuel in total last year.
- REFINERY NEWS: Russia's Tatneft working on new catalytic cracker
- External: Global Risk Management
- DUBAI FUTURES: Brent/Dubai forward spreads tighten toward month-end
"November arrivals is as far as anyone's planning -- the headlines are so uncertain that putting on any big position on paper is risky," a trader said.
- US crude inventories likely lower as refiners maintain high runs
Cactus II will be joined by the 400,000 b/d EPIC crude pipeline and the 900,000 b/d Gray Oak pipeline, both expected to start up by year's end.
- REFINERY NEWS: Japan's Fuji Oil resumes run rate of nearly 100% after resolving issues
The refinery's run rate has recovered to the normal level of close to 100% of capacity as of Monday, the spokesman said.
- Iran sells tanker released from Gibraltar to unnamed buyer: spokesman
"The destination of this ship will be decided by the oil buyer," Ali Rabei said, according to state news agency IRNA.