|OCTOBER 16, 2019|
- Tanjung Pelepas port intends to raise capacity to 30 million TEU by 2030
- OOCL cancels Asia-Europe round-trip sailings due to insufficient demand
- US sanctions on China's Cosco hits supply of IMO-compliant low sulphur marine fuel
- Cosco fails to gain approval to build fourth box terminal at Greek port of Piraeus
- Liebherr Cranes wins big in Port of Bremerhaven
- Good leadership is vital to success of maritime crewing strategy, crew and ship safety
- Hamburg port to encourage electric power usage during ships' lay time
- Kuehne + Nagel to make less-than-container load shipments CO2 neutral from 2020
- New Sino-French aircraft engine gets civil aviation certificate in China
- Heathrow airport demands airlines to commit to decarbonisation targets
- Pilot shortage depressing sale of British business jets, says Colibri Aircraft
|OCTOBER 15, 2019|
- Addressing invasive species in ships' ballast water - treaty amendments enter into force
- Bahri showcases innovation-driven services & advanced maritime capabilities
- Maritime piracy incidents down in Q3, but Gulf of Guinea a hot spot
- MOL tabletop drill focuses on containership safety
- Portall announces agreement with INTTRA by E2open
- Several states sign MoUs to join FASTag, paving way for a common electronic tolling system across the country
- CBIC launches scheme to attract investment & support Make in India programme
- Keep dairy sector out of RCEP trade pact, says Union Minister
- A. V. Vijayakumar releases CBLR Question Bank
- Multilateral trading system seen enduring & adapting
|OCTOBER 16, 2019|
- The five biggest winners
- Stadler wins first large contract in the Pacific region
- "Emirates Delivers" - from the USA to the UAE
- Longest heavy-load railway sets off
- CEO of SBB Cargo to step down
- Post Luxembourg develops contract logistics portfolio
- Piraeus to handle 10 million teu?
- 165 job losses in Basel
- Uniform brand: AFG operates under new name
- Dutch airport operator expands Down Under
- Nine new trucks to boost recycling fleet
- Four wings for a rocket
- La Salle acquires facility in South Korea
- ADAC invests in partner network
- Agility gains prestigious award in Africa
- IAG Cargo offers end-to-end monitoring
- "Curiosity of the Day"
- Port of Hamburg to remain stable in 2020
|OCTOBER 15, 2019|
- Shippers should open talks on container contracts now, says Drewry
- Financial troubles mount for grounded Jet Airways - and its creditors
- Trade war has accelerated the 'internationalisation' of Chinese companies
- Oliver Kaut new head of global air freight at Leschaco
- Indonesia's Lion Air to launch long-delayed IPO
- China's port deals a test of the US-Israel alliance
- Alvaro Gomez-Reino and Mervyn Walker complete John Menzies exec team
- On the wires: Uber-bullish RH Jansen unshakeable on M&A - bad news for Hapag shareholders?
- Supply chain radar: WFS, Swissport, BBA & Menzies - something's about to give in cargo handler deals...
|OCTOBER 15, 2019|
- Reefer owner, manager to pay $1.8 million in pollution plea deal
Two Athens, Greece, based companies are to pay a $1.8 million criminal penalty under a plea agreement in relation to various charges involving the 13,049 gt, 1991-built, Bahamas-flagged refrigerated cargo containership Nederland
- Navy supports San Diego destroyer double drydocking
BAE Systems San Diego shipyard has successfully drydocked two destroyers, stern-to-stern, in its Pride of California floating dry dock. The dock is the shipyard's largest, with a length of 950 ft, breadth
- Alabama pellet plant is good news for barge biz and Port of Pascagoula
Alabama Governor Kay Ivey joined executives of the world's largest wood pellet producer, Enviva Partners, LP, this month to announce that the biomass company expects to invest approximately $175 million to construct
- MOL to study installation of a hard sail on a coal carrier
File this one under "why bother?" Or under "every little helps." Japan's Mitsui O.S.K. Lines, Ltd. (MOL) Tohoku Electric Power Co., Inc. are moving ahead with a joint study on installation of
|OCTOBER 15, 2019|
- Tanker earnings collapse on lower West Africa ship charters
Earnings for very large crude carriers on routes to Asia from the Middle East Gulf plunged the most
- World steel demand to remain resilient
China's steel demand is showing high growth this year owing to a strong real estate sector, the World Steel Association...
- Shipping is 'human capital intensive' industry, says ship finance veteran
'We don't build the business. We build people. And people build the business,' says Katerina Stathopoulou of Investments and Finance
- MSC confirms options for five new ultra large boxships at DSME
Order at Daewoo Shipbuilding & Marine Engineering will join fleet of ultra large boxships. Brokers indicate they will be scrubber-fitted...
- Fuel-cost indexing mechanism set up for IMO 2020
With fuel surcharges set to increase sharply, a shipper lobby group has produced a toolkit to make extra charges more...
- BW Group sells BW LPG stake for $45m
Parent company sells a 5% stake in BW LPG but still controls about 42%
- MPA revokes bunker craft operator licence of Inter-Pacific Petroleum
MPA has taken a tough stance against the tampering of mass flow meters, with magnets in particular singled out. Two...
- Changing Lanes: Japan-EU trade agreement boosts Italian exports
Trade deal demonstrates benefits of economic co-operation and free trade
- Changing perceptions from the inside out
In the latest of a mini-series of features examining the changing face of communications within maritime, Mark Stokes argues that...
- Daily Briefing
Free to read: Tanker rates hit fresh 15-year high | Iranian oil tanker freed by Gibraltar offloads cargo in Syrian...
- Barakah Offshore revival scuttled by Petronas licence suspension
The agreement with white knight Lecca Group to pump in $9.7m and buy pipelaying barge Kota Laksamana 101 for $21m...
- Lukoil to produce IMO 2020-compliant LSFO
As shipping companies are forced to use more environmentally friendly fuel and reduce emissions, Russian refiners that produce excess heavy...
- Alafouzos family tightens grip on Okeanis Eco Tankers
The family has boosted its majority stake in the Oslo-listed firm just as QVT Financial becomes its second-largest shareholder
- Capesizes eye gains as Vale ramps up iron ore output
Vale is also expecting to bring back a further 25m tonnes of shuttered iron ore output in 2021
- Lloyd's Law Reports: A century of maritime and commercial law reporting
In October 1919, Lloyd's launched the first series of law reports dedicated to shipping matters, a tradition that has now...
|OCTOBER 15, 2019|
- US trucking market flashes a turn signal
- Data sharing will cut demurrage: West Coast ports
- Virginia moves to become deepest US East Coast port
- Ocean reliability needs to extend to inland destinations: Electrolux
- Blank sailings mount on slumping Asia-Europe trade
- Truck market could flip quickly in 2020: Coyote Logistics
- Container lines report minor disruption after Japanese typhoon
|OCTOBER 15, 2019|
- Did private sales pitch tank public tanker stocks?
Investment bank's rumoured query on behalf of owner looking to sell shares may be responsible for tanker selloff after robust stock rally in recent weeks.
- LR2s crack $100,000 per day level: Bugbee
Scorpio president tells finance conference that clean markets are moving "pretty quickly" in aftermath of crude surge.
- Buzby: US needs larger merchant fleet for sealift
The US military is mighty but needs more US-flagged ships to get its armaments overseas in times of international conflict, according to a high-ranking maritime official. US Department of Transportation maritime administrator Mark Buzby said as the keynote speaker for Capital Link's Maritime Forum in New York. "The commercial fleet is not where it needs to be," he said. MarAd: LNG growth could
- Surging tanker shares bring M&A back into play
With many stocks now above NAV, mergers and private equity exits deemed more likely if gains are sustainable.
- Trade war 'positive' to boxship sector
Many in maritime see the ongoing US-China trade war as detrimental to shipping, but not everyone shares that view. Global Ship Lease executive chairman George Youroukos said it is "beneficial" for boxships Tuesday at Capital Link's Maritime Forum in New York, reiterating what he said at a New York Capital shipping forum six months ago. "My view is a bit controversial," he said as a panelist on b
- VLCC rate bubble pops as 'tanker madness cools' and fixtures fail
Asian refineries cut spot crude buying due to squeezed refining margins, hurting vessel demand
- Navios Maritime Partners repays $419m loan, secures new financing
Navios Maritime Partners has cleared some major debt off its ledger using a combination of cash, bank debt and vessel sales. The New York-listed partnership has fully repaid a $419m loan due this month. "Through a combination of cash, commercial bank debt and sale-and-leaseback transactions, we materially reduced our cost of capital and strengthened our balance sheet," chief executive Angeliki
- IMO 2020 disruption will benefit scrubber 'fast lane' owners
Shipowners with scrubbers installed before year's end stand to benefit from IMO 2020 disruption, but others behind the curve may not be so lucky, Scorpio Bulkers' Robert Bugbee says. When the clock strikes midnight into next year, International Maritime Organization will lower the limit for ship exhaust sulphur content to 0.5% from 3.5%. Owners will adhere to this rule either by installing scrub
- Mozambique LNG tender papers sent to shipowners
Up to 16 vessels needed for greenfield liquefaction project by 2023
- OW case settled on eve of US Supreme Court meeting to consider it
The US' highest court will not decide whether physical suppliers have a lien on marine fuel bought through collapsed Danish supplier
- Eimskip wins back seized documents in epic antitrust saga
Icelandic line still trying to end competition probe, but wins one legal battle
- TCC trustee heads to US appeal court in box volumes row
Danish law firm contesting bankruptcy and district court rulings in favour of shippers
- Insurance veteran and publisher Sam Ignarski dies aged 64
Sam Ignarski, founder of marine insurance newsletter Bow Wave and former Thomas Miller executive, has died aged 64. Ignarski was a senior underwriter at the TT Club in the 1980s before becoming a director of the Thomas Miller-managed logistics mutual in 1989. Thomas Miller expands in Japan In the mid-1990s, he went on to become head of Thomas Miller Hong Kong. He was a keen writer with a sha
- Product tankers catching rate wave, but could conversions beckon?
Analysts positive on clean sector as owners reportedly consider switching tonnage to dirty trades
- Sinopec poised to cut refining runs as tanker rates climb
China's biggest refiner is to cut its run rates from next month in response to sky-high tanker freight rates, according to reports. Tanker owners could bank billions in 'blockbuster' market Sinopec Corp will begin reducing its refining throughput from November, according to reports by Reuters and Bloomberg, both citing anonymous sources with knowledge of the matter. Sinopec's total processing
- Bomin Bunker and ING Bank appeals battle aims to tackle key OW Bunker question
Court to decide whether physical supplier's contractual terms holds weight for bunkers sold through collapsed Danish middleman
- Alafouzos brothers boost holdings in Okeanis
CEO Ioannis and sibling Themistoklis add to holdings in Oslo-listed VLCC company
- BW Offshore to redeploy FPSO after deal terminated
Owner moving Umuroa out of New Zealand after Tamarind fails to extend charter.
- DSME order for large boxship quintet linked to MSC
Liner giant looks set to back scrubbers next generation of containerships
- North gives the green light for move into fixed premium
Diversification takes off at P&I mutual as it enters new market
- As Britannia drops general increase, will others follow?
P&I club puts the emphasis on individual risk rather than collective pricing
- Greek authorities try once again to auction off abandoned ropax
PPorts ministry wants rid of listing, laid-up ferry after numerous failed attempts
- Restis joins sale-and-leaseback trend with $34m MR2 deal
Financial sale of tankers marks first lease transaction for Greek shipowner
- Nikolaos Vafias lines up capesize asset play
Greek shipowner Nikolaos Vafias is poised to repeat another profitable asset play, circulating a 14-year-old capesize bulker that he purchased just a few months ago. Several broking sources in Athens and London said the 176,000-dwt Cape Aria (built 2005) has been offered for sale. The Japanese-built vessel is available for inspection in Rotterdam until 16 October, according to some reports. Niko
- Boa secures charters for two laid-up anchor-handlers
Company had been trying to sell duo before government stepped in with deal
- Diana share buy-back hugely over-subscribed
Shareholders offer in double the stock the bulker owner was prepared to purchase
- Spliethoff heads to China for newbuildings
Dutch group orders MPP/heavy-lift duo at Mawei Shipyard
- MOL and Tohoku to trial hard sail on coal carrier
Installation likely to go ahead after further tests to verify its impact on discharge operations
- Nigerian piracy 'good' for Penguin's business, says analyst
Singapore builder should continue to benefit from West Africa's security issues
- BW Group offloads 7m BW LPG shares in $45m deal
Singapore shipowner says move designed to increase liquidity in VLGC owner's stock
- Total increases LNG relationship with India's Adani
French oil major expands its strategic partnership with eye on nation's growing gas market
|OCTOBER 15, 2019|
- Oregon coalition revives effort to cap greenhouse gas emissions
The move follows a failed attempt to pass a cap-and-trade bill in the state legislature.
- J.B. Hunt sees some cost headwinds from digital transformation
J.B. Hunt Transport Services reports earnings light of expectations, but cost headwinds from digital platform transformation appear to be the primary culprits.
- United Airlines sees friendly skies ahead
United Airlines [NASDAQ: UAL] reported cargo revenue dipped 4.7% to $282 million year-over-year in the third quarter, but more than made up for it with...
- Venture capitalist Dan Conner's advice to startup founders
As a venture capitalist himself, Dan Conner shared what he believes every founder should know when seeking to raise capital.
- DHL Express to supersize Incheon parcel hub
DHL Express plans to invest 131 million euros ($144.5 million) to nearly triple the size of its package sort facility adjacent to South Korea's Incheon...
- FedEx Freight expands last mile delivery network
FedEx Freight goes national for its last-mile heavy freight deliveries
- How Amazon can deliver $1 items overnight for free
This shift in Amazon's logistics should make brick and mortar competitors like Walgreens, CVS, Walmart and Target nervous.
- Powerful Nor'easter about to hammer East Coast
Storm could soon "bomb out" over New England. Flooding, wind damage, air and ground supply chain delays to follow.
- Regulations prompt freight rail sector to address cybersecurity
Government initiatives are encouraging the freight rail sector to address cyber threats. But what else needs to be done?
- Prologis posts solid third-quarter numbers as macro tailwinds continue
Prologis checks in with solid third quarter as macro trends remain strong
- Surprise! The Airbus jetliner you ordered years ago just got more expensive
Large aircraft are included in the list of $7.5 billion worth of European imports that will be subject to new U.S. tariffs starting Oct. 18....
- Smallest carriers report surging ELD compliance as December deadline looms
The carriers with the fewest trucks are also the least compliant, meaning the carriers with the most to lose are the same carriers that cannot...
- Freight Futures daily curve: 10/15
National Trucking Freight Futures rates open the week lower on weakness in the East.
- Commentary: Short line railroads - custom high-growth freight service
Market View commentator Jim Blaze writes about the advantages short line railroads offer to shippers.
- Commentary: Is there enough electricity for electric vehicles?
Market Voice Ben Thrower writes about electric vehicles - and their potential impact on the U.S. energy grid.
- Labor strike dampens P.A.M. Transportation's results
P.A.M. Transportation Services calls out GM strike as the primary reason the carrier failed to meet earnings expectations.
- Life-saving logistics: Moving live organs between donors and recipients
Surgeons save lives, but it is often the transportation and logistics companies working behind the scenes that make their jobs possible.
- Market celebrates Knight-Swift's guidance cut
Knight-Swift Transportation lowered its third and fourth quarter 2019 guidance amid intermodal and truckload woes. However, some analysts find this as a reason to celebrate.
- Soaking southern rains, Red River flooding (forecast video)
Flash Flood Watch for parts of the South today. Major flooding on parts of Red River in upper Midwest.
- Dutch delight at Brexit bounty
FreightWaves finds growing evidence that manufacturers and distributors are transferring operations from the U.K. to northern Europe.
- Today's Pickup: dexFreight completes blockchain project, gets carrier paid within minutes
dexFreight has successfully completed a blockchain pilot program that saw a carrier receive payment from the shipper within minutes of making a delivery. Plus, Rivian...
- US limits sanctions to Turkish defense, energy ministries
The Trump administration takes aim at financial assets of Turkish government agencies and officials linked to military strikes in Syria, but Congress may legislate broader...
- New IMO 2020 fuel indexing mechanism launched
European shippers have joined with leading container line analyst Drewry to bring order to the "who pays what" implementation of IMO low-sulfur fuels.
- Motiv Power Systems raises $60 million for electric truck conversions
Motiv Power Systems, which converts medium-duty trucks from gasoline to run on zero-emission electricity from batteries, is getting $60 million in equity funding from Winnebago...
- Tokyo freight infrastructure stands up to the wrath of Super Typhoon Hagibis
Although Super Typhoon Hagibis has caused catastrophic floods, mudslides and at least 68 tragic deaths in Japan, FreightWaves understands from local sources that Tokyo's critical...
|OCTOBER 15, 2019|
- Brent CFD backwardation structure narrows on higher freight rates
The structure continued to soften into Tuesday morning, with broker reports indicating October 21-25 CFD was trading just 68 cents/b higher than November 25-29 in the brokered market Tuesday morning.
- Singapore port authority revokes IPP's bunker craft operator licence
"Inter-Pacific will not be allowed to operate as a bunker craft operator in the Port of Singapore," MPA said.
- External: Global Risk Management
- CMA-CGM to raise container rates November 1
The company's rate increases come just before carriers head to the table to renegotiate contracts for the next calendar year.
- Med-Japan LR2 tanker rates hit 2019-high on increased demand from east