Davie launches Davie Autonomous Canada's Davie Shipuilding has announced the formation of Davie Autonomous Inc., an Ontario-based company that will manufacture and integrate uncrewed and autonomous maritime vehicles and systems in Canada. Davie Autonomous will initially
Grandweld to build two advanced offshore support vessels for Bahri Logistics Grandweld Shipyards, one of the UAE's largest fully integrated shipyards serving the maritime and offshore industries, reports that it has signed an agreement with Bahri Logistics, the integrated logistics business unit of
Wärtsilä and Carnival ink lifecycle agreement for four LNG-fueled cruise ships Wärtsilä and Carnival Corporation (NYSE: CCL) have entered into an 8-year lifecycle agreement covering four LNG-fueled cruise ships within the Princess Cruises and Carnival Cruise Line fleets, including two newbuild vessels currently
Michael DeBernardis named VP and chief counsel of Mission Technologies at HII HII (NYSE: HII) reports that Michael DeBernardis has joined the company as vice president and chief counsel for its Mission Technologies division, its all-domain national security solutions business. In this role, DeBernardis
VIDEO: Trinity House awards Vard two-ship "Future Afloat" contract Fincantieri reports that its Norwegian subsidiary Vard has signed a contract for the design and construction of two multi-function buoy and lighthouse maintenance vessels for Trinity House, the general lighthouse authority for
CEVA Logistics to open new contract logistics hub in France CEVA Logistics will open a new 44,000-square-metre logistics platform in Mably, in France's Auvergne-Rhône-Alpes region, during the summer of 2026. The facility will strengthen the company's contract logistics network while supporting the growing demand for e-commerce distribution in France. Located in the Éco Parc Bonvert business park near Roanne, the site will be capable of processing 200,000
Capital Ship Management joins K Shipbuilding and LR to develop wind-assisted MR tanker Capital Ship Management, K Shipbuilding and Lloyd's Register (LR) have launched a joint development project (JDP) to design a 50,000 dwt Medium Range (MR) tanker equipped with wind-assisted propulsion. The project will assess whether Wind-Assisted Propulsion Systems (WAPS) can deliver commercially viable fuel savings and emissions reductions for standard product tanker operations. While wind-assi
Montreal Port appoints new Chair of the Board and four new directors The Montreal Port Authority has announced the appointment of Anik Trudel as Chair of its Board of Directors, as part of a governance renewal cycle under the Canada Marine Act that also brings four new members to the Board. Trudel is Chief Executive Officer of Lavery and a lawyer by training, with nearly 40 years of experience with leading professional firms and organisations. Trudel has an extens
Maersk revises emergency contingency surcharges from Oman and UAE hubs Maersk has announced revised Emergency Contingency Surcharge (ECS) levels for exports from Salalah (Oman), Sohar (Oman), Fujairah (UAE) and Khor Fakkan (UAE) to a range of international destinations. The revised surcharges will take effect from 1 August 2026 based on the Price Calculation Date (PCD) for non-FMC trades. For FMC-regulated countries, including the United States, American Samoa, Puer
ONE updates customers on Egypt's mandatory UCR requirement Ocean Network Express (ONE) has informed customers that new customs requirements for export shipments from Egypt took effect on 18 July 2026. Under the rules introduced by the Egyptian Customs Authority, all export shipments originating from Egypt and moving through an Egyptian port must include a valid Unique Consignment Reference (UCR) number issued through the Nafeza single-window platform. Ex
Freightos Weekly Update: Ocean rates ease on early peak season cooling and capacity additions The US and Iran have traded strikes for ten days straight, with Iranian actions also targeting neighbor states and area vessels, and missile attacks reaching as far as US positions in Jordan. Traffic through the Strait of Hormuz has again slowed to a trickle, and the conflict has now extended to the Bab el Mandeb strait as well. Saudi Arabia and the Houthis have had a ceasefire in place since 202
Maersk revises peak season surcharge for North Europe-US trade Maersk will revise its Peak Season Surcharge (PSS) for shipments from North Europe to the United States in response to continued strengthening market demand. The revised surcharge will take effect from 19 August 2026 and will remain in place until further notice. It applies to all container types, including dry, reefer and special equipment. The carrier has set the surcharge at US$1,000 per conta
CMA CGM introduces emergency fuel surcharge amid renewed Hormuz tensions CMA CGM has announced the introduction of an Emergency Fuel Surcharge (EFS) following the renewed escalation of hostilities in the Strait of Hormuz, which the carrier said has driven a sharp increase in global fuel prices. The French shipping line noted that bunker costs have risen significantly across all regions and trades, reversing the easing observed in recent weeks and increasing the overal
Sarjak Container Lines expands Maldives presence Sarjak Container Lines (SCL) has partnered with Ocean Gate Logistics (OGL) to strengthen its project cargo and logistics services in the Maldives as infrastructure activity accelerates across the island nation. The partnership combines SCL's experience in international project logistics with OGL's local operational capabilities in Malé. Together, the companies will support the movement of contain
HPH Trust reports higher H1 profit as throughput grows 5% Hutchison Port Holdings Trust (HPH Trust) reported higher revenue and profit for the first half of 2026, supported by stronger throughput at its terminals in mainland China despite weaker volumes in Hong Kong. Revenue and other income increased 9.5% year-on-year to HK$6.19 billion, while operating profit rose 29.6% to HK$2.76 billion. Profit attributable to HPH Trust unitholders surged 85% to HK$
Maersk to gradually resume operations at Venezuela's Port of La Guaira Maersk has announced the phased resumption of operations at Venezuela's Port of La Guaira following disruptions caused by the earthquake on 24 June. The carrier said it is working closely with local authorities and port stakeholders to restore operations safely while supporting the continuity of customers' supply chains. The resumption plan will be implemented in stages over the coming weeks. Acc
MSC launches Afungi Shuttle to support northern Mozambique trade MSC has launched the Afungi Shuttle, a new maritime service connecting Afungi in northern Mozambique with dedicated feeder links from the ports of Nacala and Maputo. The new service has been developed to support increasing economic activity in the region, particularly the logistics requirements of the LNG project in Afungi. It will facilitate the transportation of construction materials, machiner
Heightened robberies panic ship owners, crews in Chittagong Three incidents of robberies on ships occurred in the Chittagong port area in three weeks, bringing the total to five this year so far, causing severe concern among ship owners and crews. In these incidents, goods worth thousands of dollars have been looted by armed robbers, though no crew members were harmed
Rotterdam-Munich rail link shifts trailer transport off the road A new intermodal service is moving trailer transport between the Port of Rotterdam and Munich from road to rail. The service launched in May. It is operated by Outdoor Life Group (OLG), Bos Dynamics, Hutchison Port Europe Intermodal (HPEI) and Rail Service Center Rotterdam (RSC Rotterdam). Trailers arrive at RSC Rotterdam by truck. They are then loaded onto the Bayern Express rail service to Muni
Turkon Line's LNG-powered Kasif Kalkavan makes first call at Marport Turkon Line's new LNG-powered container ship, Kasif Kalkavan, has completed its first port call at Marport, one of Türkiye's largest container terminals. The 4,000 TEU vessel is recognised as Türkiye's first and largest domestically built LNG-fuelled container ship. Built entirely with Turkish capital and engineering expertise, the ship represents a milestone for the country's maritime and shipbu
Explainer: Are Houthis targetting Saudi Arabia? For nearly four years, the Red Sea crisis had a familiar cast. The Houthis harassed shipping in a Gaza-linked campaign aimed at Israel and the West, while Saudi Arabia stood largely to one side, shielded by a truce that had held since March 2022
Wärtsilä posts record order intake in first half of 2026 Wärtsilä reported record order intake and higher profitability in the first half of 2026, supported by strong demand across its Marine and Energy businesses despite continued geopolitical uncertainty. During the first six months of the year, total order intake increased 23% to €4.93 billion, while the order book reached €8.98 billion, up 13% from a year earlier. Comparable operating profit rose 8
HHLA cuts 2026 outlook as terminal upgrades weigh on performance Hamburger Hafen und Logistik AG (HHLA) has lowered its expectations for the 2026 financial year after operational disruptions from terminal modernisation projects, rail infrastructure works and a weaker-than-expected market environment affected performance. The company said automation work at its Hamburg container terminals and extensive rail network infrastructure projects had a greater impact o
CEVA Logistics extends European partnership with Zalando through 2030 CEVA Logistics has extended its long-standing logistics partnership with Zalando, securing operations across Europe through 2030. The renewed multi-year agreements cover fulfillment centres, returns facilities and inbound logistics operations in Germany, the Netherlands and Poland. The extension also includes Zalando's major logistics hub in Rotterdam. The companies have worked together since 200
SOHAR Port and Freezone breaks ground on Oman Zinc Industrial Park SOHAR Port and Freezone has marked the official start of construction of the Oman Zinc Industrial Park, a US$ 50 million zinc recycling and processing facility being developed by Oman Zinc LLC within the SOHAR Freezone. The groundbreaking ceremony was held under the patronage of His Excellency Sheikh Saif bin Khaled Al Raisi, Member of the Shura Council representing the Wilayat of Liwa. Located o
John T. Essberger expands chemical tanker orderbook John T. Essberger GmbH & Co. KG has exercised an option for two additional 7,900 dwt chemical tankers, expanding its newbuilding programme to a total of eight vessels as part of its long-term fleet renewal strategy. The latest order follows the company's announcement in December 2025, when it placed an order for up to six chemical tankers at China Merchants Industry Yangzhou Dingheng. With the ne
Why Singapore is the place to be for World Maritime Day 2026 International shipping executives are being encouraged to make Singapore their base for a full week of high-level meetings, conferences and networking this September, as a concentrated run of major maritime events brings many of the industry's most influential decision-makers to the city. At the centre of the week - just two months away tomorrow - ...
German offshore wind adds 1.1GW as industry demands reform Germany added 1.1GW of offshore wind in the first half of 2026, but industry groups believe that the market still needs a hard reset if the next wave of projects is to reach final investment decision. Installed offshore capacity climbed to 10.8GW after 84 turbines with 1,077MW were connected to the grid between January and ...
TGS expands global seismic footprint with three new projects Oslo-listed seismic specialist TGS has expanded its multi-client reprocessing work with two new projects aimed at improving subsurface imaging in frontier basins in Norway and Canada. The company also won a new contract in Ghana. In the Norwegian Sea, TGS has launched the Atlantic Margin South Reprocessing project over more than 23,000 sq km of ...
Fairfield lands Neste charter for ice-class MR tanker pair Fairfield Maritime Japan has secured a long-term charter from Finnish refiner Neste covering two ice-class MR product and chemical tankers scheduled for delivery in 2029. The agreement will allow Fairfield Maritime Japan to finance and manage construction of the two 50,000 dwt vessels at South Korea's HD Hyundai. The ships are due to be handed ...
World's largest shipmanager sees owners demanding more than technical management The business of shipmanagement is moving beyond technical operations and cost control as owners increasingly look to managers for protection against geopolitical, regulatory, cyber and workforce risks, according to Bjorn Hojgaard, chief executive of Anglo-Eastern Univan Group, the world's largest shipmanager. Writing in the latest edition of Anglo-Eastern's in-house magazine, AE Foresights, Hojga
Seahawk pitches shipping volatility as portfolio diversifier Frankfurt-based Seahawk Investments has published new research arguing that the sharp divergence between shipping and energy subsectors can be turned into a source of portfolio diversification through long-short equity investing. Seahawk, the investment management arm of maritime and aviation advisory group Transport Capital, said different freight markets rarely move in lockstep, creating opport
Samsung Heavy partners with Sargent & Lundy on floating nuclear platform Samsung Heavy Industries has signed a memorandum of understanding with US nuclear engineering specialist Sargent & Lundy to accelerate development of a standardised floating small modular reactor platform. The agreement moves Samsung Heavy's floating SMR programme beyond the conceptual design completed in 2025 and towards licensing, construction planning and commercial deployment. The partners wi
Shanghai advances terminal projects after 6.2% box growth Shanghai International Port Group is advancing two major container terminal projects after first-half box volumes increased 6.2% to an estimated 28.74m teu. Total cargo throughput at Shanghai reached an estimated 304.78m tonnes during the six-month period, up 2.7% year on year. The port handled a record 187,312 teu in a single day on June 9, ...
Pelagic Credit adds chemical tankers to investment mix Oslo-listed Pelagic Credit has made its first move into chemical tankers, committing $24.7m to the pre-delivery financing of two newbuildings. The deal covers two 10,000 dwt vessels, with the funding to cover yard instalments through construction. The shipyard, owner and delivery dates have not been disclosed. Pelagic Credit expects the pre-delivery loan to generate around ...
Long Beach lined up as US testbed for nuclear-powered shipping The US Maritime Administration is set to sign a landmark agreement with the Port of Long Beach to explore small modular reactors for commercial ships and other port applications, pushing nuclear propulsion further into the mainstream maritime debate. The agreement, due to be signed in Washington on Wednesday, is the first of its kind between ...
Panama Canal trims booking slots The Panama Canal Authority is cutting daily booking capacity as concerns grow that a developing El Niño weather pattern could once again squeeze water supplies and disrupt one of global shipping's most important chokepoints. From July 25, auctions for close-in "Period 3" transit slots covering regular and super Panamax vessels will be suspended until further ...
Direct hits push Hormuz tanker traffic to new lows The Joint Maritime Information Centre now counts 14 Iranian attacks on commercial ships since June 25, underlining the rapid deterioration in security following the collapse of the US-Iran memorandum of understanding. Arrow Shipbroking said tanker movements had fallen sharply over the past week. Outbound traffic through Hormuz averaged just four tankers a day, while inbound ...
Evalend raises dry bulk bet with newcastlemax series Greek owner Evalend Shipping has been named as the buyer behind a three-plus-one newcastlemax order at China's Dajin Heavy Industry worth up to $310m. The yard identified the counterparty only as a Greek owner with interests across the tanker and gas carrier sectors. Shipbroking and market sources have linked the deal to the Kriton Lendoudis-led ...
2000-built car carrier fetches $42m at auction The 4,310 ceu Chang Sheng Hong was sold at auction on Tuesday for around $42m, according to sources, an exceptionally high price for a 26-year-old midsize PCTC. The Shanghai United Assets and Equity Exchange had marketed the China-flagged vessel with a reserve price of RMB95m ($14m), meaning the winning bid came in at roughly three ...
Houthi threat tightens Saudi oil pincer Tankers carrying Saudi crude as well as a Chinese car carrier have turned back in the Red Sea over the past 24 hours after Yemen's Houthis declared a naval blockade on Saudi Arabia, threatening the fallback export route the kingdom has relied on since the Strait of Hormuz became too dangerous to use. Asian refiners ...
COSCO orders eight heavylift ships at Chengxi COSCO Shipping Specialised Carriers has moved to grow its heavylift fleet with an investment of up to RMB2.624bn ($387.8m) in eight multipurpose heavylift newbuildings at CSSC Chengxi Shipyard. The Shanghai-listed owner will place the order through wholly owned COSCO Shipping (Hong Kong) Investment and Development or affiliated companies. Deliveries are scheduled to run from April ...
Oceaneering bags five-year asset integrity deal Houston-based Oceaneering International has been awarded a five-year inspection and asset integrity services contract by an unnamed Qatar-based oil company. The deal was won by the company's integrity management and digital solutions (IMDS) segment. The contract, which includes two optional one-year extensions, is expected to contribute meaningful revenue over its initial term. Under this agreeme
BP removes crews from Gulf of Mexico platforms ahead of storm Supermajor BP is following in Chevron's footsteps and is removing some personnel from several Gulf of Mexico platforms ahead of the approaching tropical storm Bertha. BP said that it evacuated some nonessential personnel from its Thunder Horse and Na Kika platforms in the US Gulf as a precaution ahead of an approaching storm. US supermajor ...
Splash Singapore: Al Seer Marine's Nitin Mathur on Hormuz, AI and Singapore Ahead of the inaugural Splash Singapore this September, Nitin Mathur, managing director of commercial shipping at Al Seer Marine, expects the tanker market conversation to be dominated by one region above all others. "I expect the discussion to focus on the implications of the US-Iran conflict and the resulting uncertainty around the Strait of Hormuz," ...
Seamec strengthens offshore fleet with DSV buy Indian vessel operator Seamec has signed a definitive agreement to purchase the diving support vessel (DSV) Seamec Anant from its parent company HAL Offshore. The vessel will be acquired for a price of $70m. Following delivery scheduled around August 31, the DSV will be chartered back to HAL Offshore at a $45,000 dayrate, securing steady ...
For maritime risk, look to the networks behind the ships Simon Puxley from Moody's writes for Splash today. As a young officer, I spent time working with government customs authorities on counter-narcotics operations. Our operations room was a snapshot of challenges we still face today. Seventeen different computer systems. Telex. Fax. Streams of information coming in from across the world from regions such as the ...
Eni books Saipem drillship for Ivory Coast campaign Italian energy services contractor Saipem has been awarded a new offshore drilling contract for one of its drillships by compatriot energy giant Eni. The contract was awarded by Eni's subsidiary, Eni Côte d'Ivoire Limited, and is valued at approximately $260m. Saipem will deploy the drillship Santorini offshore the Ivory Coast for a long-term development drilling ...
The Daily View: Middle East Gulf indexes at a crossroads
Green fuel subsidies welcomed, but EU ETS plan raises questions The European Commission's plan to overhaul the EU ETS is receiving a mostly positive reception, but there are still plenty...
TEN sells older brace of suezmaxes for $100m Sales are part of Greek owner's fleet replacement strategy and underline hot market for even older crude oil tankers
Lloyd's Europe avoids payout after scrap dealer fails to declare multiple past cargo fires Decisions spells out meaning of duty of fair presentation under Insurance Act 2015
Red Sea U-turns continue as Houthis prepare more attacks Increased tensions in the Red Sea come after Saudi Arabia has sought to shift crude exports away from the Middle...
West upgraded to A- rating with Standard and Poor's Move comes after improved technical results at UK-based club
Containership sales remain buoyant despite overcapacity concerns The secondhand containership market continues to show resilience as strong buyer demand exceeds the limited supply of available vessels
Middle East port update: Wednesday, July 22 In Kuwait, Shuaiba and Shuwaikh ports are at ISPS Level 2
Cosco continues newbuilding binge with order for eight project cargo carriers The $387m order aims to meet rising shipping demand from China's booming wind turbine exports
Bunker prices surge as Hormuz tensions reignite Further tightness expected as the Hormuz choke continues to limit bunker availability globally
Daily Briefing Baltic Exchange reveals back-up index plans if Hormuz crisis drags on | Cosco vehicle carrier makes U-turn after Houthi warning...
CargoWise customers content but wary about AI, pricing changes: report Research by a technology vendor to global forwarders found that CargoWise's major pricing model change last fall hasn't yet resulted in major cost increases.
US importers feel peak season capacity pinch to East Coast Asia-East Coast spot rates remain elevated with capacity limitations on the trade lane and a second round of restrictions on Panama Canal transits.
Shippers face new emergency fuel surcharges as bunker prices spike The prices of bunker fuel in Singapore have shot up in the two weeks since the US air strikes on Iran intensified, and ocean carriers aim to pass on the costs.
Heightened CBP security at US ports raises demurrage risks Some in the trade community said that inspections at US seaports hasn't been this severe since the aftermath of 9/11.
DSV narrows full-year forecast after solid first half The forwarder gathered momentum through the second quarter, largely driven by the ongoing integration of Schenker business and strong performance from the air freight and contract logistics divisions.
Vale shareholders tap lead independent director as new chairman Predecessor had resigned after pressure from mining giant's largest domestic stakeholder
'Good luck': Chappell warns investors off big crude tanker stocks Frontline, DHT and Nordic American Tankers in the crosshairs, while clean product tanker owners present discount valuations
ETS revamp could see millions pumped into European shipping Brussels could contribute towards the difference in cost between clean fuels and diesel
'Full-on war in two theatres and a third opening up': Ships under attack at an unprecedented rate More risk, less reward as shipping is thrown into turmoil yet again
A tale of two cycles: Earnings season sharpens dilemma for shipping investors This week's Streetwise takes a look at what equity analysts think about options and outlooks in two key sectors
Houthi threat puts Red Sea container shipping return in danger Carriers reassess Saudi calls and reconsider efforts to restore Suez Canal routings
Matson expects strong second quarter as China service demand remains robust Transpacific operator benefits from sustained demand and constrained capacity across key Asia-US routes.
Equinor CEO sweats on global oil and gas stocks as shipping strangled in Strait of Hormuz Oil inventories are running 'empty' while European LNG stocks are 15 percentage points below normal levels
Lloyd's of London probe: Former CEO broke rules over close relationship with colleague Investigation found John Neal also failed to raise whistleblowing complaints during his six-year tenure
European banks bounce back amid 'fierce' competition in $680bn ship finance market Lenders have not been adversely affected by Iran war and US-China tensions, Petrofin says
Russia set to step in as Houthis choke Saudi oil safety valve in the Red Sea Even without a US waiver, China, India and Turkey could be looking north
NorthStandard dethroned in shipping's premier football tournament Lilley Plummer Risks triumphs in Marine Challenge Cup
Western exporters 'overwhelmed' by armada of VLCCs fleeing Middle East chaos, broker Braemar says Singapore shop Sentosa believes West Africa could save the freight market
Seafarer killed and tanker on fire as Ukraine bombs two ships Deadly spate of attacks continues in Sea of Azov
Houthi missiles and drones ready to attack shipping near Bab el-Mandeb strait, military warns Rebel group have prepared arsenal near a key pinch point
Seafarer killed as Ukraine bombs ship in Russian port Deadly spate of attacks continue in Sea of Azov
Nova Marine Carriers CEO: 'Our hobby, our job, our life, it's the company' As Nova Marine Carriers marks its 45th anniversary, Vincenzo Romeo tells TradeWinds how a chance steel coil conversation and a friendship transformed his father's coaster business
Panama Canal chaos fears place spotlight on international shipping chokepoint Potential El Nino weather pattern causes waterway's authority to take action
Norden enlists global owners for its next wave of multipurpose newbuildings Around 20 vessels based on a 17,000-dwt design are planned with outside owners
Oslo shipping investor Pelagic Credit moves into financing chemical tankers Deal is backed by long-term charter to 'highly rated counterparty and globally respected owner', CEO says
Sanctioned Iranian 'rocket-fuel vessel' enters Red Sea for first time after Houthi blockade Container vessel tracked crossing the Bab el-Mandeb strait on Tuesday
Cosco Shipping bets $390m on wind cargo growth with eight newbuildings CSSC-controlled Chengxi Shipyard has been contracted to build a series of vessels to meet growth in the renewable shipping business
China's CMB Financial Leasing stocks its larder with $10.4bn shipping pipeline Leasing giant says diversification and Chinese yuan finance are helping it navigate volatile markets
LPG carrier crew recount harrowing Black Sea attack as blasts tears through accommodation Seafarers describe multiple explosions, heavy damage and emergency evacuation after Black Sea attack
Sharma stacks up on chemical tankers as ECO quartet sails into the Lila Global fleet Owner remains positive on the outlook for J19 segment
Norden works with global owners on building its next multipurpose fleet Around 20 vessels based on a 17,000-dwt design are planned with outside owners
Knight-Swift sees 'rapid progression' in TL fundamentals during Q2 Knight-Swift Transportation beat second-quarter expectations Wednesday after the market closed, noting considerable acceleration in truckload fundamentals as the period progressed. Knight-Swift ( NYSE: KNX ) reported second-quarter adjusted earnings per share of 63 cents, 28 cents higher year over year and 12 cents better than the consensus estimate (management's EPS guidance range was 45 to 49 c
Trump's tariff on drugs targets one of the world's most globalized supply chains President Donald Trump's plan to impose tariffs as high as 200% on imported generic medicines could reshape production and distribution networks that span across multiple continents and countries. The administration's new tariff policy on imported generic drugs could also have a huge impact on the three distributors that control most U.S. pharmaceutical distribution, and the logistics networks th
First look: CSX earnings CSX Corp. (NASDAQ: CSX ) reported second-quarter 2026 earnings after the market close on Wednesday, delivering a solid performance that exceeded Wall Street expectations on both revenue and earnings per share. The Class I railroad based in Jacksonville, Fla., posted revenue of $3.94 billion, up 10.1% year-over-year, while GAAP earnings per share came in at $0.54, beating analyst consensus estimat
Shipbuilders could see billions of dollars from defense spending bill As much as $26 billion could flow to domestic shipyards for new construction and advanced procurement as part of the National Defense Authorization Act legislation awaiting a vote in the Senate. Analysis by the Congressional Budget Office pegs the proposed FY 2027 NDAA authorizing roughly $26 billion for shipbuilding to: Build or support: The third Columbia-class ballistic-missile submarine One V
Street flip: Intermodal rail charges ahead in latest data Intermodal traffic outpaced carload freight in the latest weekly data from U.S. railroads. The Association of American Railroads said rail freight for the week ending July 18 was 523,900 carloads and intermodal units, up 3.4% compared with the same week last year. Carloads totaled 226,883 units, off 1.2%, while intermodal volume of 297,017 containers and trailers was better by 7.2% compared to 20
Segro's board will back Prologis' $18.7B takeover bid London-based logistics warehouse operator Segro has agreed to back an increased takeover bid from Prologis. The company's board acquiesced just hours after the San Francisco-based real estate investment trust upped its offer for the last time. Prologis ( NYSE: PLD ) put forward its "best-and-final" offer early Wednesday. The new deal values Segro at £14 billion ($18.7 billion) and increases the p
Einride's Flipturn deal creates a charging powerhouse Operating electric trucks is half the battle; how fleets handle the charging infrastructure is the other half. The gap between vehicles and charging infrastructure has slowed fleet electrification across North America. Einride AB now says it has a plan to close that gap. Einride AB ( Nasdaq: ENRD ) announced Tuesday that it has entered a definitive agreement to acquire Flipturn, Inc., a developer
AI Is Coming for Accounts Receivable's Busywork, Not Its Jobs Tarek Alaruri has spent his career on both sides of freight's money problem. First, chasing down loads as a broker, now helping shippers and carriers get paid faster. The CEO and cofounder of Stuut joined Malcolm Harris and Michael Vincent on FreightWaves' " What the Truck?!? " podcast to talk about how his company is using AI to connect the entire order-to-cash process into a single workflow tha
Two current owners seek to take Penske Automotive private Shares of Penske Automotive Group soared Wednesday in response to a takeover bid from the the company's current two biggest owners. Mitsui & Co. (U.S.A), which owns about 20.3% of Penske Automotive, and Penske Corporation, a privately-held company that owns about 52% of Penske Automotive, announced the bid to acquire the approximately 27.8% of Penske Automotive they do not already own. The deal,
Trucking safety blitzes uncover broad violations in Maryland, Florida, Kentucky and Illinois Commercial vehicle enforcement agencies in Maryland, Florida, Kentucky and Illinois are stepping up roadside inspections and traffic enforcement, uncovering hundreds of equipment, driver and safety violations and placing scores of trucks and drivers out of service. The recent actions are part of a broader push by state and federal regulators to improve commercial vehicle safety by targeting drive
UPS labels allegedly diverted $2 million in Nike shoes, indictment says Federal prosecutors indicted 12 people in an alleged cargo theft conspiracy targeting Nike's Memphis distribution operation. The group allegedly diverted at least $2 million in products between July 2021 and June 2024. Court records say Nike employees placed unauthorized UPS labels on selected shoe cartons. Those shipments then traveled from Memphis to addresses across the country. The U.S. Attor
Walkout by union dockworkers shuts down Oakland terminals Union dockworkers at the Port of Oakland walked off the job Tuesday in sympathy with striking employees at an area sugar refiner. The walkout by members of the International Longshore and Warehouse Union shut down terminals at Oakland; the job action extended to workers at the ports of Stockton and Sacramento, also in northern California. "Representatives from the Port of Oakland's major tenants
Alaska Air to acquire 4 cargo jets, base some in Hawaii Alaska Airlines will effectively double its freighter fleet capacity next year with the addition of four leased Boeing 737-800 converted freighters, enabling it to operate dedicated cargo jets in Hawaii for the first time, the company announced Tuesday evening. Separately, the company reported cargo revenue of $163 million for the second quarter, up 17% year over year. In the first half, cargo re
Stronger market helped Triumph in 2Q, Graft stresses other factors The complex lengthy letter from CEO and founder Aaron Graft to the shareholders of Triumph Financial this quarter touted the benefits from a stronger freight market, but not too much. Graft's letter, which tries to both explain and defend the performance and strategy at a company that operates a bank but is ultimately like no other in the logistics field, acknowledged in one of his first paragrap
Trimble's Big Move: Unpacking the Transportation Division Sale Summary View Transcript Trimble is reportedly selling its transportation division, including major acquisitions like Transporeon and PeopleNet. Bart de Muynck breaks down the challenges of integrating disparate carrier and shipper tech worlds, poor market timing for acquisitions, and why even large enterprises struggle to unify complex platforms in a rapidly evolving logistics tech landscape. Dis
Weather Optics: Unpacking Tropical Storm Bertha's Impact on Freight Summary View Transcript Tropical Storm Bertha is crawling along the Gulf Coast, raising concerns about significant coastal flooding and heavy rainfall. While this hurricane season is predicted to be quiet due to El Niño, Weather Optics' Joshua Feldman explains why slow-moving storms like Bertha can still pose a serious threat to logistics and supply chains, especially with localized heavy downpou
Supply Chain Alert: Bertha Could Disrupt Gulf Coast Logistics Summary View Transcript Tropical Storm Bertha is brewing in the Gulf, marking the second named storm of the season. While not yet a hurricane, Bertha's path across the Gulf Coast poses significant risks to freight markets and the vital energy sector. Learn how flooding, production shutdowns, and relief efforts will impact logistics, and why even a "tropical storm" status can spell major disruptio
Energy Market Chaos: Unprecedented Diesel Price Spike Hits Logistics Summary View Transcript The latest DOE/EIA report shows diesel prices experiencing their largest weekly jump since the Iran War, adding over 55 cents per gallon in just two weeks. This unprecedented surge in diesel, now twice the price of Brent crude, highlights severe imbalances in the global energy market. John Kingston breaks down the impact on US industry, natural gas, coal, and the looming t
Fuel Hedging: Restaurant Supply Chain's Secret Weapon for Stability Summary View Transcript Discover how Armada's CFO, Brian McGowan, tackles the complex, low-margin world of food and restaurant logistics. Learn how their comprehensive supply chain solutions, including innovative fuel hedging strategies, saved clients nearly $9 million amidst volatile fuel prices and inflation. We also discuss how AI and new tech are reshaping food delivery and what GLP-1 drugs m
Serial Entrepreneur Reveals Keys to Successful Freight Tech Exits Summary View Transcript FreightWaves sits down with Marc Held, CEO of HOPTEK, an AI-native freight monetization platform. Learn how his unique approach to problem-solving, influenced by a successful track record in logistics tech exits including Green Screens and Turvo, is now being applied to help carriers maximize profit and streamline tender decisions. Discover how HOPTEK is leveraging cross-c
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