Gunvor in LNG offtake agreement with Cameron LNG Geneva-headquartered global commodities trader Gunvor has entered an agreement with Houston-headquartered Commonwealth LNG, which is planning to build an 8.4 MTPA liquefied natural gas (LNG) export terminal on the west bank of
Biofuel tests on CMA CGM box ships prove successful IKEA Transport & Logistics Services, the CMA CGM Group, and the GoodShipping Program report that they have successful completed of their 2019 biofuel test program on CMA CGM vessels. This following positive
Marine Log's TTB event will include a shipyard tour Marine Log's TTB - Tugs, Towboats & Barges - conference and expo, which next year is being held March 24 and 25, at the Renaissance Mobile Riverview Hotel, Mobile, Ala., will offer
Parasail based system could speed minefield clearance The Navy has demonstrated a parasail-based system to extend the distance at which Littoral Combat Ships can communicate with Mine Countermeasures (MCM) Mission Packages deployed within a mine threat area. The MCM
Austal gets $8 million more for LCS 24 work Austal USA, Mobile, Alabama, has been awarded a $7,993,893 modification to a previously awarded contract for littoral combat ships (LCS) industrial post-delivery availability (IPDA) support for LCS 24. This contract modification is
Art Anderson adds to Facility Division team Bremerton, Wash., based Art Anderson Associates has hired Ethan Ojala as a Mechanical Engineer. Ojala will work in the firm's Facility Division. He will carry out design efforts as a team member
WTO appeals crisis threatens world trade, Ecsa warns 'Should the WTO's Appellate Body cease operations after 10 December 2019, Europe and the rest of the world will suffer...
SSY invests in shipping analytics to keep control of data Shipbroker SSY has taken a stake in Gothenburg-based Marine Benchmark, which uses freely available data, via Automatic Identification System signals...
The Interview: Tom Crowley The head of the US marine solutions, energy and logistics company Crowley Maritime says it shines most brightly when there's...
Panama flag focuses on improving image Panama will be audited by the IMO in 2021 and Cigarruista says he does not want to see a 'bad'...
Frontline secures funding from China for 10 tankers 'Our strategy has focused on increasing our spot exposure throughout the year and we believe this will be reflected in...
National Bank of Greece sells $288m bad loan book to funds Funds will pay around 50% of balance sheet value for a package of about a dozen shipping loans jettisoned by...
China creates 'world's largest' shipbuilding group Newly formed China State Shipbuilding Corp has 147 research institutes, business units and listed firms, as well as total assets...
Carriers buoyed by falling bunker costs in third quarter Bunker prices were on average 20% lower in the third quarter, helping container lines drive down costs
Rotterdam takes top spot in connectivity league Piraeus and Algeciras battle it out for top spot in Mediterranean as Tanger Med continues to grow
Daily Briefing Free to read: Qatar goes it alone with diversification plans | Greece urges IMO to consider delaying sulphur cap |...
Cosco Shipping and Qingdao Port to jointly own Abu Dhabi Terminal The facility, the first terminal in which the CSP holds a controlling stake in the Middle East, handled 228,959 teu...
Law firm opens shipping practice in Singapore 'This is an area in which we already have strong capabilities in London, Australia and the US, and with the...
US sanctions Cuban firm for facilitating Venezuela's oil trade Washington has imposed sanctions on a number of Cuban companies for doing business with Caracas as part of its efforts...
Fundamentals trip up dry bulk market yet again While earnings have remained at healthy levels moving into the final quarter of the year, this has little to do...
Mozambique LNG signs off on $400m development loan The Mozambique LNG project is 'largely de-risked' since almost 90% of the production is already sold through long-term contracts with...
Modern Terminals' Peter Levesque leaves for Ports America Group Levesque joined the group in 2010 as chief commercial officer before taking on the role of group managing director in...
Voyager I Brazil oil spill theory debunked Brazilian researcher's suspicions of Greek-managed VLCC were based on faulty data
Storylines touts 'sold' units for residence-at-sea idea Storylines' vision for a vessel designed for year-round living has attracted scepticism, given the lack of an actual vessel
US approves four more LNG projects, bringing total to 11 The US Federal Energy Regulatory Commission last week approved four LNG projects as the global natural gas buildout continues. The projects, three in Brownsville, Texas and one in Corpus Christi, Texas will bring a total of 48.45 million tonnes per year of gas to market. Russia and US battle for European LNG market share "The commission has now completed its work on applications for 11 LNG expo
Frontline eyes more time charters, scrubber investments in 2020 John Fredriksen's tanker giant enjoys strong spot earnings while taking its time to plan for the future
Pierre Dincq hired to join Conti7 as chief operating officer Dincq to join Antwerp-based diversified group that has fleet of up to 40 bulkers
TUI Cruises appoints environmental advisory board TUI Cruises has appointed an independent environmental advisory board in an ongoing effort to provide carbon-neutral cruises. The four-member panel plans to meet "on a regular basis" with company management to discuss thoughts and ideas on improving environmental stewardship, the company said. TUI Cruises is a joint venture between German tourism outfit TUI Group and US cruise major Royal Caribb
Shell upscales on its call for LNG carrier newbuildings Energy major's appetite grows as it sifts through shipowner bids in 'fast-paced' vessel grab
Berge Bulk to splash out $540m on dual-fuelled newcastlemaxes Singapore-based shipowner lines up two firm orders and two options at both SWS and Qingdao Beihai
Greece's National Bank offloads $332-worth of shipping loans Unknown buyers pick up non-performing shipping loans from traditional Greek lender, who says 'banks are chasing us to buy them'
Cruiseship arrest pushes One Ocean higher up the endangered species list Canadian expedition cruise operator's restructuring efforts dealt heavy blow by unpaid trade creditors
Daily VLCC earnings stay near $100,000 amid IMO 2020 switch Spot returns of scrubber-fitted and non-scrubber tonnage begin to differentiate with market focus shifting to December-loading cargoes
Nordic Shipholding hit by longer than planned drydockings But Danish tanker owner cut loss due to lack of vessel impairments
Reed Smith targets Asian growth after losing legal duo Law firm continuing to invest in Singapore after Squire Patton Boggs recruits Stimpson and Kenworthy
Ready for impact assessments? UN puts shipping in the frame Draft biodiversity regulations under the United Nations Convention on the Law of the Sea (Unclos) could hold surprises for ocean industries
Samsung Heavy Industries signs five-ship deal for Arctic LNG 2 quintet with Zvezda Shipbuilder pushes to close its orderbook target for 2019 in a weak year for newbuilding orders
Global Ship Lease takes post-panamax containership spending spree to $100m Four 6,000-teu boxships take this year's tally to seven medium-size acquisitions since the Poseidon Containers merger
Irish Continental Group brings containership fleet to six Irish group takes another feeder containership vessel from German market
Shippers slam EU decision on liner consortia Lines need to be 'policed' after EU decision, says GSF
Ocean Yield buys back $42m in outstanding bonds The diversified Norwegian shipowner plans to refinance just over half of its bonds due in April 2020.
Vroon sells another car carrier as price pressure remains Dutch owner offloads vessel into Japan, while Zodiac also linked to sale of Eukor-chartered ship.
Korea Line emerges as winner of Shell LNG bunker vessel charter South Korean shipowner revealed as company behind order for 18,000-cbm newbuilding at Hyundai Mipo Dockyard
Monjasa adds $160m of financing ahead of IMO 2020 Danish bunker and tanker player welcomes aboard four new lenders
FIS brokers first LSFO futures trade on Singapore index John Banaskiewicz company says such deals help owners hedge bunker risk ahead of IMO 2020 deadline
Evergreen scraps containership trio for $18m Taiwanese owner said to have offloaded 1997/98-built vessels, while Petrobras markets tanker.
Champion Tankers secures higher-than-expected price for 22-year-old tanker Champion Tankers is poised to secure a higher-than-anticipated price for a 22-year-old, Italian-built MR tanker. The move comes as the Norwegian chemical and product tanker owner is in the process of renewing its fleet and clearing out the ships built before 2000. Market sources said the Bergen-based company has committed the 40,000-dwt Champion Trader (built 1997) to a Chinese buyer for $7.2m.
Great Eastern Shipping sells another older suezmax tanker Great Eastern Shipping has sold a 19-year-old suezmax tanker at a significantly higher price than the last done deal in the sector. The move comes as the diversified Indian owner continues to clear out its older suezmaxes. Shipbroking sources in Europe said Great Eastern has sold the 147,000-dwt Jag Lakshita (built 2000) to an undisclosed buyer for $16m. VesselsValue estimates that a Samsung
Frontline finances Trafigura suezmaxes with $544m Chinese leaseback deal John Fredriksen-controlled company also strikes agreement with Credit Suisse for a newbuilding tanker
Stolt Tankers in 20 ship sale and leaseback deal with CMBFL Oslo-listed chemical tanker owner will use funds to refinance certain debt secured on the vessels
Russia and US battle for European LNG market share Imports to the region have jumped nearly 80% year-on-year, according to Banchero Costa
Interceptor aims to tackle bulk of marine plastic waste by 2025 Gard-backed initiative aims to clean up 1,000 most polluting rivers, responsible for 80% of ocean plastic
Global Shippers Forum pans extending liner carrier protection The Global Shippers Forum says the views of exporters and importers have been ignored by European regulators extending antitrust protection to liner carriers.
US, Canadian and Mexican officials make pre-holiday USMCA push Last-minute meeting in Washington likely will hash out changes to make NAFTA's successor palatable to congressional Democrats.
Former trucking employee pleads guilty in elaborate wire fraud scheme Tracy Cox pleaded guilty to one count of wire fraud in federal court on Nov. 22, admitting she orchestrated an elaborate money transfer scheme to...
Prologis and Norwegian investment arm in $2 billion US logistics warehouse venture Prologis signs joint venture with Norwegian investment giant to buy 19 million square foot U.S. portfolio for nearly $2 billion
Tanker bosses give thanks for six-figure rates, order drought Crude-tanker rates are staying lofty for a prolonged period, proving that the October spike was no "one off."
Comment period extended for proposed rule on rail employee training The notice of proposed rulemaking pertains to training for Class II and Class III rail employees.
Fuller joins conversation on Chattanooga's digital future FreightWaves CEO Craig Fuller joined Chattanooga city leaders in discussing the city's tech movement.
5 transportation management system trends for 2020 Rapid advancements in technology continue to impact the transportation management system market. Here are five trends to watch in the year ahead.
Freight Futures daily curve: 11/27 Trucking Freight Futures quiet on Tuesday as the November spot contracts near expiration.
FMCSA monitoring weather for potential HOS changes Midwest storms could trigger exemptions for hauling snow removal materials and equipment.
Rail carloads see false positive on wonky comp North American Class I carloads increased year-over-year in week 47 on a favorable comp. The prior four-week average remains weak.
Today's Pickup: Getting on the same page with accounts payable; the great logistics moonshot Staying on the same page with accounts receivable; extending logistics into space
Operations at Canadian National resume The eight-day strike sent ripple effects across Canada's rail supply chain.
Report: Vertex Railcar owes nearly $45.4 million CRRC Yangtze Co. Ltd., owner of 22% of Vertex, claims nearly all of the debt listed in the petition filed in U.S. Bankruptcy Court in...
Commentary: Observations made on the future of supply chains from #FWLIVE Chicago Brian Aoaeh offers observations about the future of supply chains following his attendance at the recent FreightWaves LIVE event .
Capacity tightens into the holidays, but how long will it last? Will markets remain tight into the first quarter or soften right after Thanksgiving?
US sanctions put squeeze on Cubametales The Office of Foreign Assets Control places subsidiary to Cuban state-run oil shipper, Corporacion Panamericana, on blacklist for circumventing sanctions against Venezuela's oil sector.
New Jersey motor carriers consider next moves under ABC test law Grass might be greener in Keystone state rather than Garden state as new law puts new risk on motor carriers.
Redwood Logistics launches Connect 2.0, a software enabling data sharing and easier workflows Redwood Logistics has unveiled Redwood Connect 2.0, which can be leveraged by logistics experts to drag and drop what they want to happen to the...
Shipping's spot-rate model could collide with green agenda Investors and commodity shippers favor spot contracts, but GHG cuts will require more long-term employment.
US importer expects increase in Mexican avocados this winter Mexican avocado imports to the U.S. are expected to increase around 6% this winter compared to the same period last year, with as much as...
Knight-Swift opens tech brokerage office in Phoenix's East Valley KNX is hiring brokers and full-stack developers for the new office.
Labor Department sues Iowa trucking company over employees' 401(k) plan The Department of Labor claims Ben Shinn Trucking failed to remit employees' contributions to the company's 401(k) plan in a timely manner.
Analyst: The US-China trade war is 'sucking the life' out of trans-Pacific trade The shift of production from China to southeast Asia is unlikely to stop the trans-Pacific container market from declining this year.
Monjasa ups credit facilities by $160 million in preparation for IMO 2020 At current crude oil prices the bunker industry may need as much as $4 billion more working capital to meet the higher fuel bills next year, Lina Molfetas, senior bunker trader at KPI Bridge Oil, said in October.
Lukoil may halve HSFO output at foreign refineries in 2020
HSFO crack spreads at record lows as IMO 2020 looms Global cracks for high sulfur fuel oil have weakened sharply over the past two months after a year of abnormal strength.
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