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
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...
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
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...
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
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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