|SEPTEMBER 20, 2019|
- OOIL names Cosco's Wang Haimin as new CEO in major reshuffle
- China's port of Nansha gains 2M alliance's US east coast service
- US DOT head probed for alleged abuse of power to benefit relatives
- US proposes a rule to address future demurrage and detention disputes
- Cases of scrubber corrosion surface less than six months after installation
- CMA CGM Rhone is largest boxship to call at Chennai Port
- DHL moves all equipment for Rugby World Cup tournament in Japan
- Hong Kong maintains ranking as top world's busiest cargo airport
- WFS opens new pharma centre at Copenhagen Airport
- Turkish Cargo's IATA CEIV Pharma certificate renewed for three years
|SEPTEMBER 19, 2019|
- Hughes India launches maritime mobility services
- Hyundai Heavy Industries receives AIP for new LPG carrier design
- IMO member states urged to fully implement new global marine fuel sulphur cap
- IRClass makes a mark in London International Shipping Week
- Mundra Custom Brokers' Association elects office-bearers for 2019-22
- NYK selected for world's leading ESG index for 17th consecutive year
- Saudi Aramco ports open despite drone attacks
- National Logistics Policy to reduce trade costs, says Goyal
- NHAI bid to revive Public-Private Partnership for National Highway projects
- Govt constitutes committee to review Companies, LLP Acts
- The future of India lies in MSME sector: Piyush Goyal
- All roads lead to Sahara Star for the Maritime And Logistics Awards (MALA) 2019 in Mumbai today
- JBS Academy celebrates Teachers' Day with teachers & industry veterans
|SEPTEMBER 20, 2019|
- Fuelling powerful alternatives
- Maghreb trade on the rise
- Ifco chooses Julian zu Putlitz as CFO
- P&O Ferrymasters opens new warehouse in Rotterdam
- CMA CGM's new short sea service
- Renewed recognition for sustainability efforts
- Qatar Airways to serve Luanda
- Clark expands its sales activities in Spain
- DHL brings the Rugby World Cup 2019 to Japan
- Short-line railroad to serve cat litter producer
- Airbus predicts 50% more freighters by 2038
- Hamburg Sud goes even more digital
- Macron names Jean-Pierre Farandou as new head of SNCF
- "Curiosity of the Day"
- Greenhouse in the desert
- Investing in GPS receivers for precision positioning
- Additional equipment for Le Havre and Marseille
- Swiss Worldcargo highlights "success stories"
|SEPTEMBER 19, 2019|
- Hauliers trapped in ports, 150 km queues, and a Catch 22 for business - UK government Brexit 'plan' laid bare
- CH Robinson to invest $1bn in technology - or just 1.2% of gross revenues
- Evergreen ULCV order will leave THE Alliance far behind rivals in terms of big ship capacity
- Shippers and insurers renew calls for transnational coordination to tackle cargo theft
- FedEx axes older freighter fleet as tough air freight market starts to bite
- Management shake-up at Cosco Shipping
- Qatar Airways sees cargo revenues rise as the overall group reports a loss
- Airbus hikes forecast for future freighter demand
|SEPTEMBER 19, 2019|
- Kongsberg provides "full picture" solution for SeaDream mega yacht
Kongsberg has signed a contract with Damen Shipyards for the delivery of a fully integrated Kongsberg Maritime solution for the 155 m mega yacht Innovation on order at the Damen Mangalia shipyard
- ABS announces LNG Cargo Ready notation for ethane carriers
A lot of focus at this week's Gastech event was on ethane and Very Large Ethane Carriers. As we report elsewhere, Houston headquartered American Ethane Company is planning to build a fleet
- Ørsted awards Van Oord major Taiwan wind farm cable contract
Here's a reminder that there's more to offshore wind farms than wind turbines. Rotterdam headquartered Van Oord has been awarded a contract by Ørsted for the cable installation works at the Greater
- USACE sets date for Bonneville lock reopening
The Bonneville navigation lock will return to service, allowing vessels to pass through it, beginning 10 a.m. Sept. 30, according to officials at the Portland District, U.S. Army Corps of Engineers. Bonneville
- American Ethane to build fleet of giant ethane carriers
Houston-based American Ethane Company has announced plans to order 17 very large ethane carriers at Chinese shipyards Hudong-Zhonghua and Jiangnan. The 150,000 cu.m VLECs will transport 7.2 million tonnes per year of
- Aurelius Finance backs Ardent buyout
Aurelius Finance Company is providing finance to support the buyout of Ardent, the company formed in 2015 by the merger of Crowley's Titan Salvage with Svitzer Salvage. The deal will see Ardent's
- Fincantieri Bay opts for Wärtsilä solution for LNG bunkering barge
The 5,400 cu.m LNG bunkering barge on order at Fincantieri Bay Shipbuilding (see earlier story) will have a W'rtsil' LNG Cargo Handling System. Wärtsilä says the order endorses its leading position in
- Eastern launches first of two Z-drive tugs for Bisso Offshore
Eastern Shipbuilding Group, Inc., Panama City, Fla., reports that its Allanton facility has recently launched the C.D. White, the first of two 5,100 HP Z-drive ship handling tugs under construction for Bisso
- Vard to build advanced trawler for Luntos
Russian deepwater fishing company Luntos Co. Ltd. has ordered a state-of-the-art stern trawler from Fincantieri Group member Vard. To be built to Vard 8 02 design, the 80.4 m x 16.7 m
|SEPTEMBER 19, 2019|
- TMS Cardiff Gas confirms seven-year Total deal
The charter appears to relate to the sole unit previously without a charter out of a total of 11 on...
- Dynagas agrees 'transformative' refinancing
Dynagas did not immediately identify the banks in the consortium, but said that the refinancing was 'transformative' for the partnership
- DP World considers offshore expansion with a bid for MEO
EXCLUSIVE: Cash-rich DP World is potentially following its $1bn Topaz buy-out by entering the bidding for embattled Singaporean offshore supply...
- Patrick Walters leaves Peel Ports role
Peel Ports chief commercial officer is moving on after five years at the port and terminal owner
- New ISO consultation on 0.5% fuels unveiled
International Organisation for Standardisation releases new PAS for incoming fuels
- Saudi oil supply disruption will benefit VLCC market
Very large crude carriers owners would benefit from congestion at Saudi ports and buyers securing shipments from other distant sources
- Frontline opts not to buy four more suezmaxes from Trafigura
The tanker owner decides to stay with 10 suezmaxes as it looks for more tonnage in the very large crude...
- NYK wins long-term coal freight contract with Vietnam-based power plant
NYK has a new strategy of seeking to control exposure to volatile market conditions by maintaining and expanding long-term dry...
- Cosco Shipping Ports trims portfolio in Yangtze Delta
In what appears to be a revamp of its Yangtze River Delta portfolio, Cosco Shipping Ports is also looking to...
- Ships reap huge savings from burning LNG at today's prices
High-sulphur fuel oil prices surge after the crude oil outage at two plants in Saudi Arabia. This situation has has...
- Viewpoint: Stability before speed
It remains the legal responsibility of the master to keep a ship safe, but the tools which the master requires...
- Daily Briefing
Free to read: Insurers investigate scrubber risk and expect 2020 engine damage claims| Owners want a level playing field come...
- Reefer industry braces for equipment shortage
With reefer fleet growth flat this year and reefer production in the second half of 2019 seen unlikely to meet...
- Port of Oakland's Chris Lytle wins 'Connie' Lifetime Achievement award
Connie Awards are presented annually to maritime industry leaders who have had substantial impact on container shipping. Lifetime Achievement awards...
- Container oligopoly's capacity management will shape rates, not demand
The industry has gained the required agility to mitigate unfavourable macroeconomic events such as the US-China trade spat, says Seaintelligence
- Industry must raise its game on boxship fires, salvor tells IUMI
'Large casualties need assistance, they cannot be out at sea for a long time, and we've all seen that,' said...
- Shell and Qatar Petroleum set up LNG bunkering venture
The two companies will take equal ownership in the new venture, which aims to facilitate the sale of liquefied natural...
|SEPTEMBER 19, 2019|
- Low single-digit growth forecast for ocean, intermodal sectors
- No 'one size fits all' for smart container use
- Best supply chains look inward: speakers
- Indian freight groups press government on surcharges
- Shippers find value going digital on LTL
- Mongla port targets Chittagong apparel exports
|SEPTEMBER 19, 2019|
- Cape rates should 'remain tight' despite downward trend
They should stay above $25,000 per day, Jefferies analyst Randy Giveans says
- Ardent management tap alternative finance to buy stake from Svitzer and Crowley
Ardent's management buy-out will allow Svitzer and Crowley to focus less on the salvage segment.
- The history boys: Jacq Pierot & Sons celebrates 125 years
Founded in Rotterdam, transplanted to New York, Jacq Pierot & Sons is learning new tricks as it navigates its third century
- It hasn't been plane sailing for this city at sea
A dream to build a vessel four times longer than the world's largest cruiseship, complete with airfield, has been on the drawing board for decades. The visionaries behind it are confident they can get the ship (and that airfield) on to the water soon
- Secrets of the deep: the Red Sea mystery
The loss of a bulker turned into a bitter insurance dispute. But the case never quite made it to court, leaving the market no clearer on the conflicting claims.
- Schepers finds new homes for two more boxships in $18m deals
But German manager retains management of other vessels with new structures
- Union Maritime tanker asset play pays dividends
UK shipowner Union Maritime appears to be logging a substantial profit on the sale of a 16-year-old aframax tanker. The 104,900-dwt Anavatos (built 2003) has gone to an Indonesian buyer for between $13.5m and $14m, European shipbrokers said. It has an attractive dry-docking status, as it passed special survey in April last year. Union Maritime linked to eight-ship deal with BP Shipping Union Ma
- Evangelos Marinakis cape flip yields $2m profit, brokers report
Capital Maritime & Trading has made a quick $2m profit by flipping a capesize it acquired less than three months ago, according to market sources. Several brokers in Greece, London and the US report the Evan'gelos Marinakis-led owner as selling the 177,500-dwt Aristofanis I (built 2005) to unidentified South Korean buyers for between $16.5m and $16.7m. The Mitsui-built vessel used to trade in th
- VLCC queue shortens as Saudi exports resume after attack
The Maran Arete became the first ship to lift from the world's largest oil export terminal on Tuesday following last weekend's drone attacks
- Ex-Clarksons man Zeuthen opens up in Denmark for Synergy
Experienced executive to spearhead Singapore group's shipmanagement operations in Copenhagen.
- Global Ship Lease revamps capital structure with fresh debt
Global Ship Lease (GSL) has attained hundreds of millions of dollars in new debt, essentially resetting its capital framework. The Ian Webber-led boxship owner has scored a new syndicated $268m senior secured credit facility comprised of two tranches with several lenders, including Credit Agricole Corporate and Investment Bank and ABN AMRO Bank. CIT Bank, Hellenic Bank Public Company and Siemens
- Dynagas LNG strikes deal for 'transformative' $675m loan
Dynagas LNG Partners is using a fresh loan to help eliminate its existing debt. The New York-traded gas carrier owner announced Thursday a new $675m senior secured loan that will be used, alongside cash on hand, to pay down a $470m loan and a $250m in bonds, totalling $720m. The company has $112m in cash and equivalents, according to Securities and Exchange Commission filings. Investors fight f
- Former Aegean Marine directors sued over alleged 'fraud scheme'
Peter Georgiopoulos named among the defendants as creditors launch lawsuit in New York over alleged $300m fraud
- BNP Paribas forces auction of last Brightoil VLCC
Chinese court orders sale of Bright Gem as arrest period expires.
- Borealis tastes victory as dragon boat race brings LISW to a close
Christoph Toepfer joins the winning team as Spinnaker Global's annual charity competition raises more than $190,000 for the OSCAR Campaign
- POSH facing $42m impairment as JV defaults
Singapore owner could not reach agreement with Terasea over new financing.
- Samos Steamship buys open-hatch bulker from Gearbulk
Samos Steamship is increasing its position in the open-hatch bulker market by taking a 10-year-old ship that has been operating in the Gearbulk fleet. US sources said the Greek bulker and tanker owner has purchased the Santoku Shipping-owned 54,200-dwt Kashi Arrow (built 2009) for a fairly low $10.7m. Kassian continues clear out with sale of ageing panamax bulker Gearbulk and Samos did not res
- Seaspan eyes buys with $500m financing deal
Boxship owner says facility now gives it access to $1.5bn.
- Fincantieri injecting equity in Vard after deep loss for 2018
Italy's Fincantieri is injecting fresh equity into Vard Group after the Norwegian shipbuilder suffered heavy losses. Vard has logged a loss after taxes of NOK 1.88bn ($220m) last year, against a NOK 99m loss in 2017, Norwegian daily Finansavisen reported. Norwegian shipyards and equipment makers diversify from offshore shipbuilding Fincantieri firms up first of six Viking ships Vard has had ac
- TMS Cardiff Gas confirms newbuilding interest
Christos Economou-controlled owner says latest new vessel fixed for seven years, with more to come.
- Lauritzen Bulkers cull of owned ships continues
Danish operator Lauritzen Bulkers has sold another ship as it pares down its owned fleet, but is so far holding on to its newest vessels. European and US brokers said the outfit has disposed of the 31,800-dwt Elvira Bulker (built 2011) - its seventh bulker sale since June. Lauritzen set for bulker owning exit with sale of China-built trio The Hakodate Shipyard-built vessel has gone to an undisc
- SeaBird Exploration lines up survey work in Africa and Asia
SeaBird Exploration has won new deals to conduct offshore surveys in Africa and in the Asia-Pacific region. Equipment delays to hit SeaBird Exploration's bottom line The Oslo-listed company said it has signed a contract to acquire a 2D seismic survey for an unnamed "international" oil and gas company in the Africa region. The three-week-long contract will employ Seabird's 81-metre seismic surv
- ISO releases IMO 2020 fuel specifications
Standardisation body aims to end lack of clarity over low-sulphur bunkers' viscosity and stability.
- CMA CGM strikes long-term deal with Eastern Pacific for dual-fuel sextet
First company to invest in LNG-fuelled units adds another six ships to chartered fleet
- Glencore joins Cargill's chartering revolution
Trader becomes sixth member of group aiming to digitalise transactions.
- Zodiac Maritime takes advantage of low prices to grab capesize
Diversified owner buys another Japanese-controlled unit
- MOL Chemical Tankers toasts Nordic takeover with London fest
CEO Tsuneo Watanabe toasted 12 months of ambitious expansion with a special cocktail event
- Avenir lines up charter with Petronas for first small-scale LNG newbuilding
Start-up looks set to lock in first of six vessels it has on order at Chinese yards to Petronas
- Transal Denizcilik eyes acquisitions of small tankers
Turkish owner wants to focus on ships of 10,000 dwt or smaller after reportedly selling three vessels for nearly $25m
- NYK linked to VLCC sale as prices fall
Brokers say 2005-built Toyo fetched $28m in Greece.
- Spanish bust drugs ring run by 'Messi of hashish'
Spanish police have broken up a drugs ring involving specially built speedboats. The illegal operation was run by Abdellah El Haj, a Moroccan citizen dubbed the "Messi of hashish", AFP reported. Mexico seizes fentanyl on Maersk boxship It cited a spokesman for Spain's Guardia Civil force as saying police seized five boats, 17 vehicles, several weapons and more than €500,000 ($551,000). A shipy
- NYK signs 25-year bulker contract in Vietnam
Japanese owner to carry coal for Van Phong Power Company.
- Saudi Arabia joins US-led Middle East Gulf flotilla
Nation signs up to International Maritime Security Construct in wake of refinery attacks
- Panama Canal need not be a bottleneck for LNG carriers
But transits slots must be increased to design capacity and more gas carriers be allowed through as trade volumes rise
- New wave of VLEC orders awaits starter's gun
Class society ABS sees potential for 40 newbuildings as it tracks projects
- Trump opts for more sanctions over military response to Saudi attacks
US president claims failure to attack Iran in the summer was a 'sign of strength' not weakness
- Van Oord bags Taiwan offshore wind farm contract
Dutch contractor latest to benefit from Asian nation's investment in renewable energy
- Azure takes control of handies managed by Taylor Maritime
Investor AFO expands own vessel vehicle by taking commercial role for four ships from Taylor Maritime
- Logger trade helps China win Solomon Islands tug of war
Private owners of veteran tonnage influence island nation's decision to turn its back on Taiwan
|SEPTEMBER 19, 2019|
- Typhoon Tapah to menace southern Japan and Korea
After several days of dithering in the Philippine Sea, tropical storm Tapah (also called Nimfa) has transformed into a typhoon. It has also started accelerating...
- GM strike brings layoffs to truckers in Canada
U.S.-based Martin Transportation Systems temporarily lays off drivers at Windsor, Ontario, branch as strike hits cross-border routes between GM plants.
- Amazon announces purchase of 100,000 EV delivery vehicles from Rivian - the largest order ever
The deal coincides with an ambitious new initiative aimed at making Amazon carbon neutral by 2040.
- Pricing Power Index: Shippers still have the advantage as long-term momentum builds for carriers
Critical events caused more panic than actual disruption to supply and demand.
- Navistar will build Industry 4.0-ready truck plant
Navistar is building a new Industry 4.0-ready plant near San Antonio, Texas that will help raise earnings before interest, taxes, depreciation and amortization.
- Former US agriculture chiefs push USMCA ratification
Pressure applied as some Democrats remain concerned about labor provisions.
- Hyundai to pay $47 million fine for illegal diesel engine imports
Manufacturer installed diesel engines in construction equipment that failed to meet emissions standards under the Clean Air Act when imported into the U.S. from 2012...
- House Democrats seek to slow White House plan for LNG rail shipments
Two lawmakers want more extensive review of the risks and practice of using tank cars to haul liquefied natural gas.
- Fallout from the Saudi attack: American drillers are more than capable of covering the shortfall
As the world's top producer of oil, the United States is more than capable of withstanding the global effects of the Saudi Arabian refinery attack.
- Freight Futures daily curve: 9/19
Increased freight volumes out of Texas due to Imelda drive DAL to LAX futures on Wednesday.
- Where's my container?
Ports, terminal operators and shipping lines are striving to improve the flow of information.
- Texas swamped with major flooding (forecast video)
More than 20 inches of flooding rains have shut down roads in southeastern Texas. Threat continues today.
- Toyota, key supplier to invest nearly $800 million in San Antonio manufacturing facilities
Toyota recently announced a $391 million investment at its Tacoma and Tundra assembly plant in San Antonio. In addition, Aisin AW, a Japanese auto supplier...
- Today's Pickup: German auto parts suppliers' stare at insolvency over market downturn
German auto industry is going through an economic crisis; Waymo carriers 6,000 passengers in its first month of autonomous taxi service; e-scooter market witnesses a...
- FreightWaves pledges to offset carbon footprint for event series
At FreightWaves, we are trying to do our part by bringing transparency and commentary to market issues, including climate footprints, sustainability, and innovation.
- $60 million AV grant package includes automated fleet testing
$7.5 million going to Virginia Techs will also help set industry guidelines.
- PSR changes largely done, railroads make intermodal pitch
Executives at North America's major railroads are making the case that intermodal service will be more reliable and consistent after a year of major service...
- World's foremost blockchain experts and groundbreaking projects part of the upcoming BiTA Symposium
Blockchain experts will present innovative projects and discuss the latest in the development of the technology for logistics operations at the upcoming BiTA Symposium Chicago,...
- U.S. rail volumes remain soft in September
Trade uncertainty and loose truck capacity continue to weigh on rail traffic.
- Drivers as assemblers: a closer look at last-mile freight delivery
Last-mile freight delivery might involve drivers to act as assemblers, helping set up products like furniture and home appliances. These driver-assemblers have specific skill sets...
- Getting Inside the Trans-Alaska Pipeline
Hilcorp makes headway in Alaska buying out BP's Alaska assets.
- UPS drivers don a uniform upgrade after 100 years
While still mostly brown, the shirt is now made with breathable, micro-pique fabric that ensures comfort in hotter temperatures.
- How brokers manage working capital in a challenging freight environment
In partnership with Carggo... the next few quarters will squeeze brokerage cash flows. Technology can help.
- German mobility startup Wunder Mobility enters U.S. market
Wunder Mobility has raised $29 million in an extended Series B round and is channeling it towards expanding its geographic footprint and suite of mobility...
- IRU Exclusive: Driver shortages a 'real and growing threat'
Boris Blanche, managing director of the International Road Transport Union, believes upskilling, better recruitment practices and semi-autonomous trucking can help address the shortfall of drivers.
- Port report: What peak season? Key box trade hardly bumped
According to an MSI analyst, a key mainline container trade hardly bumped this summer - and the forward outlook for carriers is less than upbeat.
|SEPTEMBER 19, 2019|
- Saudi disruptions expose Asia's deficient emergency oil reserves
While organizations like the International Energy Agency have coordinated strategic petroleum reserves (SPR) in member countries, most Asian countries are not IEA members and are unable to fund expensive long-term storage programs.
- Attacks on Saudi oil units affecting major Asian crude buyers differently
- FUTURES 5: Refined products rally as storm disrupts USGC refinery operations
NYMEX refined products futures jumped Thursday as Tropical Depression Imelda disrupted refinery operations in Texas.
- External: Praxis Energy Agents DMCC
- Saras ready to produce 950,000 mt of VLSFO by 2020
- Specification body ISO sets out 0.5% sulfur bunker fuel challenge
The PAS "defines general requirements that apply to all 0.50 mass % sulfur fuels and confirms the applicability of ISO 8217 for those fuels."
- ISO releases much-anticipated IMO 2020 compliant fuel specification
The ISO/PAS 23263:2019 document "Petroleum products -- Fuels (class F) --Considerations for fuel suppliers and users regarding marine fuel quality in view of the implementation of maximum 0.5% sulfur in 2020" is now available.