|NOVEMBER 21, 2019|
- Soren Toft is MSC's new chief executive officer: shipping line confirms
- Yang Ming sees Q3 loss swell to US$42m on operating revenue of $1.22b
- Chinese shipping line starts direct Wuhan to Japan box service
- Long Beach port sees box volume drop 2.4pc YoY in October to 688,425 TEU
- ONE drives home 'marine navigation safety practices' message
- Wartsila, PSA Marine trial autonomous harbour tug in Singapore
- ICTSI Matadi wins award for best infrastructure project
- Singapore Airlines Cargo October volumes fall 6.8pc yoy to 107,900 tonnes
- EVA Airways Q3 profit dives to US$41m on back of weak cargo demand
- UPS speeds up delivery times in Asia Pacific with service improvements
|NOVEMBER 20, 2019|
- MOL Group to build Japan's 1st LNG-fuelled ferries
- Skyways Bangladesh rebranded
- Time for higher BAF charges seen
- Duty exemption schemes ensure competitiveness of Indian exports, says Goyal
- GST administration to hold special filing demo session for new return forms on Dec. 7
- India appeals against WTO ruling on export incentives
- Kamarajar Port & Dredging Corporation of India among 28 CPSEs recommended for strategic disinvestment
- Energy & metal commodity prices seen further falling in 2020
|NOVEMBER 21, 2019|
- The joint way forward
- E-trucks for hinterland logistics provider
- Hamburg's comeback?
- Logistics support for bobsleigh pilots
- Upgrading the DUSS terminal in Hamburg-Billwerder
- PTV Group merges transport and logistics expertise in France
- Second Luxembourg-Jakarta service
- Canadian rail's environmental leadership recognised
- Pro Glove strengthens presence in the USA
- Key topics discussed in Dubai
- Reusable packaging for Airbus
- Caucedo terminal in the Dominican Republic enhanced
- "Curiosity of the Day"
- Bolloré Logistics signs contract with CFM
- New gondola type speeds up freight car turnover time
- New chairman for German transport alliance
- Rotor wind sails in the Baltic Sea
- Jettainer and Trilatec expand partnership
|NOVEMBER 20, 2019|
- 'Bitter taste' in 2M as MSC poaches star exec and noses toward top liner ranking
- Kuehne + Nagel to acquire Rotra's overland and logistics business
- SM Lines brings scheduled container shipping services back to Portland
- Gefco boxes clever to aid Airbus sustainability, but postpones its IPO
- Zim reports 'improved' results in Q3 as VSA with 2M continues to pay dividends
- Indonesia's Kertajati Airport has lofty cargo ambitions: 'bringing in the big boys'
- On the wires: K+N's latest bolt-on - something for DSV Panalpina to worry about?
- Supply chain radar: AP Møller-Mærsk cuts senior Latam staff as it preps to deal
- M&A radar: DSV Panalpina - shareholder value above all
- Market Insight: AP Møller-Mærsk + MSC - things you cannot buy...
|NOVEMBER 20, 2019|
- Proman Stena Bulk orders methanol-ready duo
Proman Stena Bulk Ltd has finalized an agreement with Guangzhou Shipyard International (GSI) in China to build two state of the art IMOIIMeMAX methanol-fuel ready 49,900 DWT vessels, with the first vessel
- Hyundai Heavy gets AIP for new containership power system
South Korea's Hyundai Heavy Industries aims to maximize the efficiency of Very Large Containerships (VLCSs) by simplifying the power system. HHI and Korea Shipbuilding & Offshore Engineering (KSOE) have been awarded Approval
- AMSC sees Jones Act tanker market getting tighter
"We are encouraged to see significant chartering activity in the Jones Act tanker market during the last few months leaving very limited shipping capacity available until the end of 2020," said Pål
- Eastern launches first of three new Staten Island Ferry double-enders
Eastern Shipbuilding Group, Inc., Panama City, Fla reports that its Allanton shipyard last week launched the SSG Michael H. Ollis, the first of three 320 ft Ollis Class ferries for the Staten
|NOVEMBER 20, 2019|
- Europe is destination of choice for LNG volumes
Forward gas prices are incentivising a build-up in inventory on land-based facilities as well as floating storage on LNG carriers...
- Carriers eye strong year-end for fraught freight rate market
Setting a positive tone ahead of Asia-Europe contract negotiations will be even more vital this year with the added pressure...
- Zim returns to profit despite trade uncertainty
'In spite of the challenging market conditions, Zim continued to record improved results in the third quarter, as it did...
- American Shipping sees 'stable and improving' market conditions
'We are encouraged to see significant chartering activity in the Jones Act tanker market during the last few months, leaving...
- Improved visibility a key driver for smart port development
The complexity of port ecosystems requires collaboration and data sharing to accelerate logistics chains
- Competition fears delay moves to prevent cargo misdeclarations
Carriers need to be alerted quickly to rogue shippers, but they fear breaching competition rules if they share information with...
- Queensland LNG exports feel impact of softer demand
Buyers are said to be seeking lower cost alternatives to contracted LNG volumes with projects in the Australia's north-eastern state
- Ports should focus on value over throughput
Ports that create value in the supply chain will make their customer base more productive, leading to improved performance for...
- Daily Briefing
Free to read: EU shipping emissions regulations: A sweet spot or a bureaucratic monster? | VLGC spot rates rise to...
- FSL sells two LR2 product tankers
Following the disposal, FSL's fleet will consist of 16 vessels
- MOL to order Japan's first LNG-fuelled ferries
These newbuild ferries that are designated to serve the Japanese market spell MOL's first announced LNG dual fuel newbuild orders...
- Eastern Pacific Shipping unveils tech accelerator start-ups
The accelerator will culminate in February 2020 with a demo day
- Yinson seals $800m refinancing deal for Ghana FPSO project
The fact that the deal was oversubscribed showed the banking market's confidence in Yinson's ability to maintain high uptime and...
- Houthi-held tugs and drilling rig freed
The vessels and crew were released once it was confirmed they were not related to 'countries of aggression'
|NOVEMBER 20, 2019|
- Shippers warn of CN strike disruption
- CP to install tracking devices on domestic chassis
- US truckload rates forecast to rise in 2020
- Zim rides 2M pact to Q3 profit
- Forwarders set to ramp up market share: FIATA
- European Commission proposes extending carrier block exemption
|NOVEMBER 20, 2019|
- Tanker rate spike a mixed blessing for South Sudan exports
Tonne miles down as China took less crude last month as cargoes headed to markets closer to home
- Star Bulk posts first dividend in seven years
New York-listed owner said it plans to give such a perk every quarter
- Kunlun legal woes plague new owner of collision-related VLGC
Cepheus Ltd, the new owner of a former Kunlun Holdings VLGC, has become embroiled in a legal dispute arising from a collision that took place in the Middle East in April. The 78,500-cbm LPG carrier Echo Star (built 2000), which Liberian-registered single-ship entity Cepheus took ownership of in August, was arrested in Singapore last week at the request of Blue Fleet Group. Nord/LB seizes Kunlun
- Ningbo Zrich Shipping fronts $100m Minsheng Financial Leasing buying spree
Beijing-based leasing giant Minsheng behind a string of secondhand purchases attributed to other owners
- Synergy Holdings takes 10% stake in Euroseas
Synergy Holdings has become one of Euroseas' top shareholders after its Synergy Marine sold almost its entire fleet to the New York-listed owner. Synergy Marine, a ship management firm controlled by Synergy Holdings chairman Andreas Papathomas, offloaded four boxhips for $40m, leaving it with one such vessel. Synergy Holdings has acquired 4.22 million Euroseas shares at $0.71 each for a 10.4% st
- Polaris inks SWS newcastlemax duo against Vale charter deal
South Korean outfit returns to China for newbuildings in under-the-radar deal
- Eagle Bulk circulates older supramax in buyer's market
Eagle Bulk Shipping is offering an older bulker for sale after withdrawing another from the market, dry bulk sources said. Connecticut-based Eagle Bulk is looking for offers on the 53,350-dwt supramax Skua (built 2003). But it has decided to hold onto the 52,400-dwt Jaeger (built 2004) after prices in recent weeks were not to its liking, the sources added. In a third-quarter earnings call, Eagle
- Team Tankers sells another older ship from Laurin Maritime deal
Team Tankers has sold a pair of 15-year-old, MR product tankers as it clears out the older vessels acquired in a deal to takeover Sweden's Laurin Maritime last year. The Oslo-listed tanker owner has sold the 44,000-dwt Team Tosca and Team Toccata (both built 2004) to Turkish interests, brokers said. Tina Revsbech switches from tankers to bulkers with job at Fednav Broker Frachtcontor seeks new
- Performance Shipping confirms third tanker buy
Performance Shipping has confirmed market rumours that it plans to buy a third aframax tanker for about $26m. TradeWinds reported Friday that the Simeon Palios-led owner committed to buying 115,600-dwt Virgo Sun (built 2007) at that price, according to Athens-based sources. The Sasebo Heavy Industries-built ship is currently owned by UK-based Zodiac Maritime, according to Performance strategy ch
- Scorpio Services Holding discloses Hermitage Offshore buy
Scorpio Services Holding has disclosed the trade that sent Hermitage Offshore shares skyward late last week. The holding company, which also has stakes in Scorpio Tankers and Scorpio Bulkers, bought 332,073 shares in Hermitage for $1.49 each. Insiders said to trigger Hermitage Offshore price surge Hermitage Offshore shares, short interest make huge jumps The holding company already owned 9.3 m
- Flex LNG to ramp up term coverage as newbuildings deliver
CEO Oystein Kalleklev says he is willing to fix all five 2020 newbuilds on long-term charters
- China Merchants emerges as seller in $380m Seaspan deal
Deal for six neo-panamaxes sees Chinese lessor scale down fleet
- Klaus-Michael Kuehne becomes Hapag-Lloyd's biggest shareholder
Companies controlled by Kuehne have bought a 29.2% stake, leapfrogging the Luksic family of Chile to be lead stakeholder
- US shipyards look to Washington to revive their fortunes
New legislation could energise an industry that has been in the doldrums since the early 1980s
- Proman Stena Bulk finalises GSI methanol tanker contract
Chinese newbuilding deal will initially involve two vessels
- Rhenus-Arkon moves into shipowning with debut eco-order
German alliance between Arkon Shipping and logistics player Rhenus inks deal for four cargoships in China
- Violent stowaways convicted after rampage on Grimaldi con-ro
Four African men guilty of affray after faeces-throwing stand-off on Italian vessel in the Thames Estuary
- ESL Shipping hints at expansion after profit rise
Finnish bulker owner aiming to build market share in the Baltic Sea
- Top Ship shares back below $1 three months after one-for-20 split
Company says it can't explain loss of 88% in shares value as competitors have logged gains in 30% range
- American Club, Gourdomichalis duo sued again as bulker battle rages
Claims from the Adamastos' detention would add up to several years' worth of insurers' payouts
- Zim makes it back into black as revenue rises
Israeli container line has benefited from slightly higher rates in the third quarter
- Kleven Verft logs more losses, but touts stronger balance sheet
Norwegian shipyard is confident restructuring will make it attractive for investors
- Ponant orders eco-cruiseship double for $332m
Fincantieri scoops deal from French line for new South Seas expedition vessels
- Lacking consensus, IMO's CO2 talks enter a difficult phase
But the United Nation body's initiatives in national plans and life-cycle assessments of alternative fuels draw some praise
- Houthi rebels release 16 seafarers after 'hijackings'
South Korea says two of its citizens among those freed by Yemeni group
- AMSC: Jones Act tanker market tightens as activity rises
Norwegian-listed owner says significant business being done in the US sector
- Greece issues $55m tender for Sea Diamond wreck removal
Greek port authority invites bids to lift cruiseship from its underwater Santorini graveyard
- Six buyers circle Sungdong Shipbuilding
Bidder for restructuring South Korean yard about to be chosen
- Flex LNG seals $629m financing and pays first dividend
Norwegian LNG carrier owner seals deal with 11 banks and Kexim for five newbuildings coming next year
- Bimco aims to avoid 'protracted' talks with new COA contract
Shipowners' organisation says lack of widely used standard form is leading to delays as shipments rise
- FSL Trust confirms sale of LR2 product tanker duo
Singapore-listed owner believed to have achieved $20m per vessel from Indonesian interests
- MOL to order Japan's first LNG-powered ferries
Mitsui OSK Lines (MOL) is to build the first two LNG-fueled ferries in Japan in a move that will cut CO2 emissions on the route that they will serve by 20%. MOL completes Kobe LNG bunkering trial The two ships are set to be ordered at Mitsubishi Heavy Industries (MHI) in December. Financial terms were not disclosed. On delivery in late 2022 and early 2023 the ships will be chartered by MOL
- New Cosco Croatia calls to boost access to central Europe
Long-term plans call for Rijeka terminal to be able to handle 20,000-teu boxships
- Eastern Pacific reveals tech accelerator line-up
Shipping giant's technology drive powers ahead with international group of participants
- Clarksons: Shipping's carbon footprint down 20% in a decade
Broker's figures show that industry is the most 'carbon efficient' against road, rail and air
- Fleet Management celebrates 25 years at home in Hong Kong
Managing director Kishore Rajvanshy hosts his fourth silver jubilee celebration in 2019 in Hong Kong
|NOVEMBER 20, 2019|
- Box pendulum swings even more toward East Coast
Freight data confirms that container lines are increasing their flows to the U.S. East Coast at the expense of California ports.
- Truck safety advocates blast FCC spectrum carve-out plan
Proposal could undercut "hundreds of millions" spent on connected-vehicle infrastructure
- CBRE sees tolerable 2020 slowing in U.S. industrial real estate
CBRE sees slowing but still-strong U.S. industrial real estate market
- Yang would anoint 'trucking czar' if elected president
Democratic candidate Andrew Yang also proposes a $1,000-a-month "universal basic income" for workers displaced by automation.
- U.S. rail volumes slump in flat peak season
U.S. rail volumes continue to slip as rail executives see muted peak season.
- When big data means big risk to brokers - FreightWaves Insiders with Cassandra Gaines [podcast]
"Getting your carriers' speed and HOS data comes with major risks to your brokerage," according to Cassandra Gaines.
- Lufthansa, Etihad leverage digital interface to capture more cargo reservations
API, or application programming interface, may soon become a common three-letter word in the air cargo space by making the booking experience similar to shopping...
- Chinese cargo airline ceases operations
Uni-Top expected to restructure
- Logistics providers leverage blockchain as 'digital passport for suppliers'
Chainyard's blockchain solution responds to a common pain point: qualifying hundreds of carriers is a convoluted and inefficient process.
- Freight Futures daily curve: 11/20
Los Angeles sparks a fire in the Trucking Freight Futures markets on Tuesday.
- Multipurpose apps can protect against digital overload
Drivers often suffer from so-called app overload. This leads to a cluttered phone screen and an irritated driver.
- Canadian industry groups seek swift resolution to Canadian National strike
The strike, coupled with and trade uncertainty, could hit businesses hard, groups say.
- ZIM reports profit, higher revenue in third quarter
ZIM reported a $5 million profit in the third quarter of 2019, saying it benefited from its cooperation with Maersk and MSC.
- Double whammy of heavy snow, flooding rain in western U.S. (forecast video)
Two feet of snow or more coming to the Mountain West. Desert Southwest gets drenched, possibly flooded.
- Luxury yacht maker Sunseeker plans to transfer 80 jobs to DHL Supply Chain
U.K.-based yacht builder Sunseeker is in advanced negotiations with DHL Supply Chain to help with its logistics operations.
- Commentary: What does the future look like for energy supply chains?
Brian Aoaeh writes about changes in the energy/fuel mix over the next 30 years in developed and developing economies.
- Potential investor bails out of Alitalia rescue
Atlantia charges that conditions for investment not met
- Target's stock surges after third quarter earnings beat
Target Corporation (NYSE: TGT) saw its stock surge after the retailer reported sales growth and traffic surges for both its physical stores and its digital...
- Why we built a trucking rate predictor
Our rate predictor builds rates from actual freight market conditions, using historically reported data only as a frame of reference.
- Shippers greet EC liner block exemption ruling with disbelief
Shippers believe container line consortia are anti-competitive and lack transparency.
- Today's Pickup: Hyperloop route between Chicago to Pittsburgh can create 900,000 jobs over a 25-year period
HyperloopTT does feasibility study on Chicago-Pittsburgh route; Nikola develops the most energy-dense battery; Virgin Atlantic is opening new routes in summer 2020.
- Catapult integrates Maersk Line rate data
Cargo rate platform adds "deep link" to Maersk's booking portal.
- US importer pays CBP $3.3 million for entry violations
U.S. Customs and Border Protection said optical lenses manufacturer Satisloh used false descriptions, tariff classifications and duty rates on its import entries for certain machinery...
- Lowe's announces plans to close more stores
Lowe's announces plans to make leadership changes and close 34 stores in Canada. The home improvement retailer increased earnings guidance for fiscal 2019.
- EU Commission to extend container line block exemption regulation
The European Commission believes that container shipping lines need consortia to make "operations more financially viable and efficient."
- Is the rebirth of shipping share offerings finally nigh?
Higher freight rates are piquing investor interest, bringing ship owners back to the capital markets.
- Truck hijackings become part of cartel violence in Mexico border city
Drug cartel members in the northern border city of Nuevo Laredo, Mexico, across from Laredo, Texas, recently hijacked trucks to form blockades on major avenues...
- The numbers don't lie: size of legal awards vs. trucking companies is soaring
The survey covers just the states of the Southeast but the numbers are still sobering,.
|NOVEMBER 20, 2019|
- External: Global Risk Management
- aAsian middle distillate cash differentials plunge over 80% amid ample supply, weak demand
This has also translated to a weakening gasoil swaps market structure, and the December/January spread was assessed at plus 9 cents/b Tuesday.