|OCTOBER 11, 2019|
- IMO 2020 silver lining for shippers and carriers alike, Shenzhen TPM conference told
- IMO 2020 rule to leave container shipping lines with US$11b fuel bill
- US places 28 Chinese organisations on Entity List for alleged human rights violations
- US export figures show China no longer 'a developing nation'
- Phase 1 of DP World's deepwater port in Ecuador is operating successfully
- Busan New Port starts dredging work costing US$20.4m to attract mega box ships
- CITPL raises the bar for terminal productivity in south and east India
- Grounded B737 Max to resume service in mid-January: American Airlines
- FAA gives the go-ahead for UPS drones to operate
- Logistical headache in Vietnam with booming air freight exports to US
|OCTOBER 10, 2019|
- Container cash guarantees seen needing updating
- Ocean Network Express (Europe) accredited AEO
- Robust ocean exports seen driving India's trade
- Steel exports up during first 6 months
- Ports in Holland & partners preparing for possible no-deal Brexit
- Sagarmala aims at over 3,300 mtpa of port capacity by 2025
- Truck operators seek more specific support to tide over difficult time
- India down on global competitiveness index, but high in macroeconomic stability & market size
- Gujarat Maritime Horizon 2019 is where the fraternity is headed to in Ahmedabad today
|OCTOBER 11, 2019|
- Large ships need help
- New intermodal services in East and Southeast Europe
- Europa starts work on GBP 60 million logistics project
- USA: more than 6,000 vehicles to join natural gas fleet
- Founder of the Huettemann Group dies
- Dry ice replenishment in the Arabian desert
- Panattoni invests in Leipzig
- New Street Scooters with a higher additional load
- Shipowners better prepared for sulphur cap than expected?
- Rainer Liebhart to manage air cargo logistics
- Free passage restored for 15,000 vessels a year
- Atran Airlines grows fleet to six full freighters
- "Curiosity of the Day"
- Avon Freight Group to use new facility in Redditch
- Preparing for UK's peak bridge strike season in October
- Jaxport's board of directors elects new officers
- First flat rail operation in the Philippines
- Salzburg airport makes a stand
|OCTOBER 10, 2019|
- Supply chain radar: Is XPO Logistics back on the M&A trail?
- HMRC estimate of post-Brexit customs bill for shippers 'wide of the mark'
- Panama Canal use by box ships slows only slightly, but there's worse to come
- Astral drones wait on African runway for green light to take off
- El Al books first online freight shipment after joining cargo.one
- UPS makes $450m investment in gas-powered trucks
- Why lightning strikes twice as much over shipping lanes
- Analysis: Kuehne versus Kuehne just as the Danes close in...
|OCTOBER 10, 2019|
- Ingalls expands Shipbuilder Academy program
Huntington Ingalls Industries' (NYSE: HII) Ingalls Shipbuilding division hosted a ribbon-cutting ceremony on Tuesday for its new Shipbuilder Academy site in Gulfport, Miss. The Shipbuilder Academy was established in 2016 at Ingalls'
- AIDA Cruises to trial fuel cells on AIDAnova
By early 2021, Carnival Corporation's German market brand, AIDA Cruises, aims to be the world's first cruise company to test the use of fuel cells on a large passenger ship on board
- "Trade war wreaks havoc on U.S. exporters," says LA port exec
The Port of Los Angeles moved 779,903 Twenty-Foot Equivalent Units (TEUs) in September, a 2.7% decrease compared to 2018's record-breaking September. "The ill-advised U.S.-China trade war continues to wreak havoc on American
- New risks add to pressures on container market
"The mood-music surrounding the container market has deteriorated further in the last three months," says Drewry Shipping Consultants, which has downgraded its outlook for world container port throughput for the current year
- Ferry arrives in Scotland after epic delivery voyage
Scottish operator Pentland Ferries' new vessel Alfred arrived in Orkney yesterday after completing a 5,481 nautical mile voyage from shipbuilder Strategic Marine's Vung Tao, Vietnam, shipyard that began August 29. Designed by
- Finland signs corvette project construction contracts
The Finnish Defense Forces and shipbuilder Rauma Marine Constructions (RMC) have now signed a construction agreement for the Finnish Navy's new Pohjanmaa-class corvettes. The agreement, valued at EUR 647.6 million (about $714
- Shipyard ceremony marks start of LCS 27 construction
Lockheed Martin (NYSE: LMT) and shipbuilder Fincantieri Marinette Marine have marked the start of construction on Littoral Combat Ship (LCS) 27, the future USS Nantucket. In a ceremony at the shipyard, a
|OCTOBER 10, 2019|
- Bottiglieri says rates and regulators pushed shipping company to the edge
'We had to face all the proceedings and the competition of other shipowners who wanted to take advantage of situation,'...
- Unipec joins Exxon embargo on vessels linked to Venezuela
Unipec, the world's largest dirty tanker spot charterer, appears to have halted chartering vessels that have had any business links...
- Seafarers concerned over prosecution risks
Seafarers' fears include becoming scapegoats in environmental disasters, as the public and media campaign to hold someone to account
- Cosco's Piraeus investment plan handed partial approval
Fate of proposed new 2.8m teu box terminal extension still hangs in balance
- Shippers eye lower contract rates
Weak rates present an opportunity for negotiation of base costs, but shippers are warned to expect higher bunker costs
- Class NK joins decarbonisation coalition
Class NK joins competitors Lloyd's Register and ABS in cross-industry coalition to develop zero emissions vessels by 2030
- Forum to consider hazardous cargo concerns
Panel of experts from industry and regulators to seek solutions on containership fire issue
- LNG oversupply forcing floating storage, says Poten
In the short term, a contango market is supporting shipments, while in the long term, demand growth is dominated by...
- Viewpoint: Speed or power?
Slowing down to save the environment is an easy fix that produces instant results, but it does not encourage the...
- Daily Briefing
Free to read: Cosco Shipping woos forwarders as it clarifies end-to-end strategy | Registry calls for review of IMO's casualty...
- MISC seals two-vessel long-term LNG charter deal with ExxonMobil
Delivery of the two vessels, worth $405m, is scheduled for 2023 but no details of the charter contract were disclosed
- Deadly pig disease to bog down soyabean trades
The fall in volumes from the US and Brazil to China has led to an 8.5% drop from last year...
- DryShips to de-list from Nasdaq after Economou buyout approval
On closing of the merger, DryShips will become a privately-held company within Mr Economou's private empire and the shares will...
- Port of Charleston sees record growth and builds for more
The port remains focused on increasing business and investing in its infrastructure, especially the Hugh K Leatherman Sr Terminal now...
- Port of Virginia sees 9% growth in September container traffic over last year
The port also is progressing with its channel deepening and widening project that will create the deepest port on the...
|OCTOBER 10, 2019|
- US railroads nudging shippers away from trailers
- DHL looks to capitalize on growing El Paso market
- Flexport adds visibility capabilities with Crux buy
- Logistics market awash in unhelpful 'solutions'
- Trucker Tools rolls out automated booking for brokers
- WeWork debacle reveal logistics startups' sustainability challenge
- Driver problems top latest list of trucking woes
- US-China trade war drags air cargo down
|OCTOBER 10, 2019|
- Global Port Holdings sails into the Bahamas with $250m
Global Port Holdings (GPH) has arrived in the Bahamas, having begun operating its first cruise port in the region with plans to run more landings within the vacation paradise. The London-based port operator on Wednesday opened Nassau's Prince George Wharf Cruise Port with plans to carry out a $250m expansion over the next two years. Nassau Cruise Port, a consortium made up of GPH, Bahamas Invest
- Liberian Registry opens new office in Japan
The Liberian International Ship & Corporate Registry has continued its push into Asia, opening an office in Imabari. The office, its fifth in Asia since 2017, will be run by the registry's Japan president Eiji Okazaki and will handle ship registrations and technical issues locally. Okazaki had been the head of the registry's Tokyo office since its opening. "Opening the Imabari office was a natu
- Hudson Shipping Lines joins IMO 2020 enforcement group
Hudson Shipping Lines (HSL) has doubled down on its stance against using exhaust gas scrubbers to meet pending IMO 2020 regulations. The US ship operator has joined Trident Alliance, a group of shipping companies focused on ensuring full enforcement of pending IMO 2020 rules. Four months ago, it said publicly that it would boycott scrubber-fitted vessels on the premise that they transfer airborn
- T Rowe Price takes pole position in Tidewater
T Rowe Price has bumped up its holding in Tidewater, crossing the 10% threshold and leapfrogging into the top spot. The asset manager now owns 3.9 million shares in the Houston offshore player, up from 2.3 million. T Rowe Price now owns 10.1% of all shares, up from 8.6%. It was previously the fourth-largest shareholder behind BlackRock's 2.7 million share stake, Third Avenue Management's 2.6 mi
- VLCC earnings near $160,000 per day with charterers in "panic" mode
Vessel demand from Chinese players drive up VLCC rates with trickle-down effects in aframax and suezmax markets
- SFL looks to sell its $100m stake in Fredriksen sibling Frontline
SFL Corp could be looking to divest itself from sibling Frontline in a move that could net the shipping and offshore asset owner more than $100m. John Fredriksen's tanker owner Frontline disclosed in Securities and Exchange Commission filings Wednesday that fellow Fredriksen-backed company SFL might be looking to sell its entire 11 million share stake. Frontline sticks to 10 Trafigura tankers T
- Diana Shipping fixes panamax to Al Ghurair
Diana Shipping has fixed a post-panamax bulker to Al Ghurair Resources for a year at a rate in line with the market. The Simeon Palios-led shipowner has entered into a time charter contract with the UAE-based company for 98,704 dwt Polymnia (built 2012) at $14,500 per day, for 12 to 14 months. The charter is expected to make about $5.22m of gross revenue for the minimum scheduled period of the t
- Egypt orders 12 dredgers and work vessels at IHC
Dutch shipyard secures big order from ministry of defence
- Panama Canal sees record year for tonnage
The Panama Canal exceeded tonnage expectations for fiscal 2019, setting a new record for the globally important waterway. The canal saw 469 million Panama Canal tonnes (PC/UMS) transit for the year ended 30 June, beating the prior year's results by 6.2% and projections for 2018 by 4%. "These record-setting results reflect the Canal workforce's commitment to efficiency and ongoing investments in
- Brazil's Enseada files for preventive bankruptcy
Shipbuilder seeks protection in Rio with debts of $557m
- Vroon: scrapping PSV breaches sales agreement
VOS Primrose among several offshore vessels heading for recycling
- Gunvor reveals tanker fleet details as profit rolls in
Trading giant says it now has 17 ships through joint ventures; calls off refinery sale
- Cosco denies Iranian STS involvement as Beijing pushes for sanctions relief
Cosco Shipping Energy Transportation says its Dalian subsidiary does not own the CCPC Voyager, suspected to have carried Iranian crude via STS transfers
- Average anchor-handler rates hit year-high in North Sea
Seabrokers says September's average fixture level was the best so far in 2019
- Sea World sells vintage MR tanker in fleet renewal move
The Greek tanker owner Sea World Management & Trading has sold its first vessel in the sale-and-purchase market in six years in a deal that contributes to fleet renewal. Brokers in the US said the company has sold the 47,000-dwt Sea Halcyone (built 2001) to an undisclosed buyer. The the Onomichi Dockyard-built tanker has fetched a price of $8.3m. That's somewhat higher than VesselsValue's estim
- Ocean Yield buys dual-fuel ethylene carrier from Navigator
The LEG carrier will become the third Ocean Yield vessel able to run on ethane.
- Container lines opt for 'tandem sailing'
Tight market forces lines to take smaller ships to compensate for shortage or larger ones
- Lemissoler sells bulker trio from Diolkos arm
Cyprus-based Lemissoler Navigation has quietly sold the three supramax bulkers owned by its Diolkos Maritime arm. European brokers said the Diolkos the 56,000-dwt Anogyra (built 2011), Lefkoniko and Leonarisso (both built 2010) have all gone to an undisclosed buyer. The ships were all built at Jiangdong Shipyard in China. Belships offloads oldest bulker with bareboat-sale deal Indonesia report
- Chellaram gets 'top dollar' for supramax
Hong Kong-based bulker owner Chellaram Shipping has fetched a higher-than-expected price for a Japanese-built, 11-year-old supramax bulker. Belships offloads oldest bulker with bareboat-sale deal IMO 2020: 'positive hurricane' or cold shower? US brokers said the company has sold the 56,000-dwt Darya Mahesh (built 2008) for $12.5m, which is described as a "top dollar" price. VesselsValue says
- Danaos Corp resumes growth with post-panamax boxship buy
US-listed shipowner makes first purchase in five years, following successful debt restructuring
- Hyundai Samho clinches new European VLCC order
South Korean yard banking $94m for conventional tanker.
- Ariane orders sail-powered ro-ro for rocket transport
French group picks VPLP design for new low-impact ship
- LNG carrier rates jump again as vessels vanish from market
Modern ships blast through the $100,000 per day market with expectations of further rises to come
- Broker brought in to sell Remontowa's Arctic newbuildings
Two new former Royal Arctic Line multipurpose boxships offered for $13m each
- Greek banks gain EU approval to offload €80bn in bad loans
The state has guaranteed to help Hellenic lenders unload oodles of bad loans in a project code-named Hercules.
- Greek insurance broker Andreas Karaindros dies
Legendary insurance man passes away after long illness
- PV Trans steps in as AET scales back small chemical tanker fleet
Vietnamese operator looks to Malaysia for more tonnage
- Horses and umbrellas: seafarer superstitions still prominent
Ostensjo Rederi officers unpick the origins of some strange beliefs common among crews
- H Schepers prepares to exit market with sale of last ship
German shipowner reaches the end of the line after 51 years
- Is seven-year, $77m Iliopoulos 'scuttling' case finally at an end?
Appeal or criminal probe appear unlikely after High Court ruling, but questions remain unanswered
- Game is finally up for small-cap stocks after five years in desert
Painfully poor returns mean a whole class of small capitalisation public shipping companies face tough choices due to a dearth of investor interest
- LNG cargoes set to keep rolling out in oversupplied market
Project sanctions hit new heights with South East Asia a key focus for sales in the longer term, Poten says
- Shell returns to the market for slew of LNG carriers
Energy major keen to home in on one yard in effort to get the best deal on newbuildings it requires
- Affinity is right: Big Oil needs to stand behind LNG as a fuel
The industry does not want to wait for a zero-carbon solution to emerge
- MISC orders $405m LNG carrier double for ExxonMobil charter
Malaysian owner picks Samsung Heavy Industries for new gas ships
- 71 days: the inside story of the Stena Impero seizure
Stena Bulk chief executive Erik Hanell reveals the 'controlled chaos' and concerns behind the scenes as the Swedish shipowner's tanker became embroiled in the summer's simmering geopolitical tensions
- Tufton Oceanic pounces again with $8.75m boxship buy
UK owner spends more of its share-issue windfall
- Sasol finances first South African-owned chemical tanker
Energy company says deal is significant investment into localising and diversifying its supply chain
- TMS Cardiff Gas LNG carrier quartet up for grabs
A quartet of five-year-old LNG 'carriers from Greek shipowner TMS Cardiff Gas' fleet is being 'offered around the market for sale. Industry players and brokers named the tri-fuel diesel electric (TFDE) vessels as the 160,000-cbm sisterships Corcovado LNG, Kita LNG, Palu LNG and Yari LNG (all built 2014). TMS Cardiff's 'opportunistic exposure' to spot lays foundation for long-term approach They
- Gibraltar puts German boxship up for auction
Admiralty Marshal to take bids for Spica on 30 October
- Anglo International strikes another bulker deal with Kambara Kisen
Anglo International Shipping is expanding its fleet with a seven-year-old post-panamax bulker from Kambara Kisen of Japan. Brokers said the company has purchased the 98,700-dwt Jo Jin Maru (built 2012) for $19.8m. Training is no game as increasing autonomy trickles into shipping The Tsuneishi Group (Zhoushan) Shipbuilding-constructed vessel is due for special survey in June 2022, and the price
- Woodside Energy zones in on provider for LNG bunker vessel
Australia's Woodside Energy has selected a preferred shipowner for its planned LNG bunker vessel. Those working closely with the project declined to name the owner involved, but others in the wider industry pointed to Dutch shipowner Anthony Veder as the company left in the running for this project. BHP: LNG bunkering will see 'quantum leap' The LNGBV is understood to be advancing on the back o
- Singaporean bunker players take delivery of Brightoil ships
Six tankers that were put up for auction in Singapore last month have been sold
- DFDS agrees cold-ironing initiative with Copenhagen port
CMP joins growing number of ports offering plug-in power sources for passenger ships
- POSH buys out stake in Asia-focused harbour services firm
Singapore offshore vessel operator ends 15-year relationship with Sembcorp Marine subsidiary
|OCTOBER 10, 2019|
- Vacuum cleaner mogul ditches electric car project
British billionaire James Dyson has abandoned his dream of building an electric car.
- Worldwide parcel volume to hit 200 billion by 2025: Pitney Bowes
Global parcel activity will hit 200 billion a year by 2025, Pitney Bowes report predicts
- Ocean Rate Report: Tanker rates just soared past $150,000/day
Crude-tanker rates have now reached levels not seen since before the global financial crisis.
- Fava aims to take FreightWaves global
After a successful tenure with a startup freight forwarder, Fava is excited to start a new chapter at FreightWaves.
- Shippers remain in control of pricing power as carrier sentiment rebounds
This Week's Pricing Power Index: 30 (Shippers) Last Week's Pricing Power Index: 30 (Shippers) Three-Month Pricing Power Index Outlook: 50 (Balanced) The trucking industry operates...
- Kenco works to prove the value of technological investment with real-world test lab
When it comes to technology, it can be difficult to differentiate between a good investment and a waste of money.
- Shared moped startup raises $27.6 million and dodges gig-workers
Since 2018, Revel has expanded its fleets into Brooklyn, Queens and Washington, D.C. and plans to reach 10 cities by 2020.
- Virgin Atlantic and Delta open hi-tech export facility at Heathrow
Facility marks initial phase of ambitious plan to double capacity
- Ike files voluntary safety report revealing details of autonomous truck operation
The company is the first to release a safety assessment before testing vehicles on public roads.
- Freight Futures daily curve: 10/10
Fundamentals continue to drive strength in the East regional freight futures markets.
- Amazon partner Inpax lays off about 600 after Amazon ends relationship
Inpax, a delivery partner of Amazon.com, lays off more than 600 after Amazon cuts ties
- Heavy-duty brake plant to close, move production to Mexico
Haldex Brake Products Corp., a Swedish brake and suspension manufacturer for heavy-duty trucks, announced on October 8 that it is shuttering its manufacturing facility in...
- SkyBitz tackles wasted trailer space and cargo claims; announces collaboration with Omnitracs
SkyBitz has introduced a new sensor with camera that tracks available space and the condition of items inside a trailer. (Photo: Jim Allen/FreightWaves)
- Today's Pickup: Growth of on-demand mobility comes at the cost of public transport and marginalized people
On-demand mobility tramples on public transit; lab-meat will replace large chunks of the conventional meat industry; OPEC cuts oil demand forecast for third consecutive month.
- Record-breaking snowstorm trudging through Plains (forecast video)
Two feet of snow possible for parts of Dakotas, Minnesota as powerful early season storm stalls over northern Plains.
- Alcohol beverage importers want second round of CBMA
Customs brokers say a permanent extension of the 2017 Craft Beverage Modernization and Tax Reform Act would incentivize Customs and Border Protection to automate the...
- FMCSA chief Ray Martinez leaves the agency
Chief counsel Jim Mullen expected to take over as Acting Administrator on Oct. 28.
- Large aircraft lessors tap debt capital markets
Half of all commercial aircraft are accessed from lessors
- Rhenus commits to iconic distribution centers and U.S. expansion (WITH VIDEO)
European logistics giant could bring its famed, eco-friendly distribution centers to North America as its global expansion continues
- The unsurprising growth of Hispanics within the trucking industry
The Hispanic community has contributed immensely to the new American dream and is currently one of the fastest growing ethnic minorities within the trucking sector.
- Delta posts strong income gains despite slump in cargo revenue
Updated: 3:41 p.m. Delta Air Lines' cargo revenue dropped 37% to $189 million in the third quarter and year-to-date is off 13% to $567 million...
- Can precision scheduled railroading save the railroads' third-quarter profits?
With U.S. rail volumes slumping in the third quarter, can PSR soften that blow to the rail's bottom line?
- Autonomous electric truck startup raises $25 million (With Video)
The Swedish autonomous electric truck startup Einride closes a $25 million Series A round.
- German electric vehicle automaker sees 'huge market opportunity' in the U.S.
Deutsche Post-owned EV major StreetScooter has announced plans to expand to the U.S. market, commencing pilot tests early next year with DHL Express.
- SmartDrive Video Insights: The State of Convergence
This is the first in a series of videos produced by FreightWaves and SmartDrive, recorded at the recent SmartDrive Customer Conference in Atlanta. FreightWaves editor-at-large...
- Convoy touts 45% reduction in empty-mile emissions as its Automated Reloads program grows
Convoy launched Automated Reloads in June. Since then, the company said in "top markets," the number of empty miles has been reduced by up to...
- Covenant Transport among 4 to win Mike Russell Trucking Image Awards
The American Trucking Association handed out a number of awards, including the winners of its Mike Russell Trucking Image Awards, at its just concluded Management...
- Port Report: Port of Brunswick ready for 'substantial new business'
Georgia Ports Authority is looking to grow roll-on, roll-off cargo even as work continues on salvaging the capsized car carrier Golden Ray.
- Asia's merchant ships pollute world's oceans with plastic bottles
Asian merchant shipping and major drinks manufacturers are responsible for an increase in the amount of plastic bottles found in the world's oceans.
- Körber Logistics buys majority stake in logistics-robotics company Cohesio
Körber Logistics, the investment and logistics arm of tech conglomerate Körber of Hamburg, Germany, has acquired a majority stake in the warehouse autonomous logistics robot...
|OCTOBER 10, 2019|
- INTERVIEW: HSFO to VLSFO switch gathers pace as IMO 2020 nears - IBIA director
"I expect we will see increasing supply of VLSFO during October, November and December in most markets," Einemo said.
- Shanghai HSFO bunker premium dips from record high amid tepid demand
"Premiums have been sky-high [at Shanghai] and demand has gone to other ports like Japan," a Chinese bunker trader said.
- Vopak acquires minority stake in Algeciras terminal ahead of 100% divestment
The transaction value totals Eur125 million.
- Huge swell in freight rates sends waves through tanker, crude markets
One shipowner active in the West of Suez tanker markets said it feels like "Merry Christmas already."