America’s energy boom: Crude exports soar to record high
U.S. crude exports have never been higher. Overseas buyers are incentivizing American producers to pump more “black gold.”
U.S. crude exports have never been higher. Overseas buyers are incentivizing American producers to pump more “black gold.”
Commodity shipping has a well-deserved reputation for extreme volatility. The rise and expected fall in dry bulk is a case in point.
U.S. diesel exports to South America’s west coast are heavily exposed to Panama Canal delays. Tanker rates have skyrocketed.
As the Panama Canal scales back on reservation slots, more ships without reservations wait longer to get through.
Union Pacific is seeking to beef up its intermodal offerings via a terminal in Phoenix and the addition of destinations for its on-dock rail service at Port Houston.
MSC, the world’s largest shipping line, faces the largest-ever shipper claim for alleged damages suffered during the supply chain crisis.
There has been a surge of attacks and threats targeting Israel-linked ships, including one incident where the U.S. Navy came to the rescue.
The Biden administration has announced a huge plan to tackle issues plaguing the U.S. supply chain that covers several cross-government partnerships.
This week in Borderlands: Eternity Group Mexico unveils a tool for shippers to monitor their carbon footprints; Finkargo closes a $20 million Series A funding round; cargo-partner launches a cross-border shipping solution; and SKU Distribution receives foreign trade zone status for its Arizona warehouse.
Time is running out for container lines as contract rate renewal season nears and spot rates fail to recover.
Mother Nature isn’t delivering significantly more water to the Mississippi but barge rates haven’t moved up.
Panama Canal restrictions force more ships to transit the Bab el-Mandeb Strait off Yemen, where they face a hijacking risk.
Belgium-based logistics provider Katoen Natie is expanding warehousing and rail facilities at its Norfolk, Virginia, operations, to support the export market for plastic resins.
Freight flows declined in Houston and Corpus Christi, Texas, in October, while container volumes rose at the Port of New Orleans.
Terminal operator ICTSI has not given up its quest for tens of millions in damages from the West Coast longshore union.
The era of rapid Chinese growth and large-scale government intervention is over, says China Beige Book CEO Leland Miller.
Zim’s headline loss looks ugly, but most of the decline was non-cash and it still has ample reserves to weather the downcycle.
Project freight forwarder deugro has opened a container terminal in Baytown, Texas, along the Houston Ship Channel.
A fleet of container vessels is up for sale as a company backed by Greece’s Evangelos Marinakis switches its bets to LNG shipping.
U.S. agribulk exports to Asia are taking the longer route via the Suez Canal due to Panama transit restrictions.
Cargo volumes are holding up, but rising transport capacity is outpacing demand, pushing container shipping rates even lower.
Containerized imports have rebounded strongly in 2023, with October volumes up 33% from February’s low.
The union representing East and Gulf Coast dockworkers warned members to prepare for a possible strike starting Oct. 1, 2024.
“This is not a diet. This is a resetting of the baseline,” said Maersk CEO Vincent Clerc on his company’s job cuts.
The water crisis at the Panama Canal is getting worse and will force more ships to take much longer routes.
Profits being reported by container shipping lines are down from the stratosphere but many still surpass pre-COVID returns.
Now that port labor unrest is over, West Coast container terminals are starting to claw back some of their lost volumes.
Cargo volumes showed mixed results for Gulf Coast ports in September, with Houston reporting container declines, New Orleans seeing gains and Corpus Christi getting a boost from crude oil shipments.
“The table is set to scale up as demand increases,” said Port of LA Executive Director Gene Seroka.
The Prince Rupert Port Authority is starting construction on a project that will increase rail-to-container transloading at the Canadian port, particularly for agricultural, forestry and plastic resin products.
Soy Transportation Coalition director says farmers diverting product from weak export market.
“We look forward to a moderate rebound in cargo volume through the end of the year,” said Port of Long Beach CEO Mario Cordero.
Officials from Nexxiot and Deloitte talk with FreightWaves in this Q&A about how combining data on container movements and a container’s financial streams can help ward off illicit trade.
Cosco earned more than $800 million in the third quarter, while one analyst expects Zim to lose more than $200 million.
Canadian Pacific Kansas City and CSX are seeking approval from the Surface Transportation Board to acquire some of the assets of short line Meridian & Bigbee Railroad. They plan to beef up an Alabama interchange as part of an effort to create a Mexico-Southeast corridor.
A leading exec in liquefied gas shipping gives his take on war in the Middle East, market fundamentals and shipping stocks.
The Port of Montreal has received funding from Canada’s National Trade Corridors Fund to build a new terminal aimed at boosting the port’s container handling capacity.
The volume of Russian crude exports is growing and the price is rising, spurring the U.S. and its partners to begin sanctions enforcement.
Geopolitics has always been a key driver of global shipping markets. How could the war in Israel affect rates?
Peak season demand propelled imports higher in September, although softening spot rates point to a fourth-quarter slowdown.
Barge rates on the Mississippi stabilized in the past week and are still well below where they were a year ago.
Tanker giant Frontline is poised to dramatically expand its fleet, while Euronav is on a path to privatization.
Investors have been burned for years by dilutive share offerings by micro-cap shipowners. Backlash is building.
The Chapter 11 filing of the ILWU dockworkers union dates back to a dispute over two electrician jobs in Oregon a decade ago.
Just when it looked like West Coast port labor drama had dissipated, the ILWU has filed for bankruptcy protection.
A flood of tanks, military vehicles and weapons systems is flowing from the U.S. to Europe. Shipowner ARC plays a pivotal transport role.
Seacor Holdings has sold its U.S. harbor towing operations to firms in Louisiana and Texas.
Cargo volumes were a mixed bag for Gulf Coast ports in August, with Corpus Christi and New Orleans reporting gains, while Houston saw a 20% decline in container shipments.
The Georgia Ports Authority reported a dip in August volumes at the Port of Savannah. But volume increases for rail traffic and roll-on/roll-off cargo were bright sports for GPA last month.
Inflation and economic fallout from the war are curbing demand just as a tidal wave of new ship supply hits the water.
Diesel is an essential fuel for the global economy. The world’s second-largest seaborne supplier, Russia, just halted exports.
Barge rates for moving grain on the Mississippi have continued to rise as water levels remain low.
The recent rate rebound turned out to be fleeting. As rates deteriorate yet again, shipping lines face mounting losses.
Although container volumes were down at the Port of Charleston year over year, South Carolina Ports’ Inland Port Greer saw record volumes in August.
Although the U.S. supply chain may no longer be imperiled by the pandemic-era chassis shortage, companies should still act in response to expectations that e-commerce and global trade will only continue to grow, according to the president and CEO of Trac Intermodal.
The supply chain crisis is over, but exporters are still paying more — and facing more logistical challenges — than they did before the pandemic.
Shipowner Grimaldi says a Jeep Wrangler used to push non-operating automobiles onto the vessel sparked the deadly fire.
The plot thickens in the legal battle between Bed Bath & Beyond and container lines. More carriers are in the crosshairs.
The Panama Canal Authority on Tuesday suspended bookings for super vessels through Sept. 30 in its latest measure to remove a backlog waiting to traverse the canal.
Canadian railway CN and Norfolk Southern are partnering to create a domestic intermodal service that will connect Canadian customers with markets in the U.S. Southeast.
Now that supply chains are back to normal, the typical effects of seasonality have returned, bringing U.S. imports up.
The new service will provide a direct connection from the Port of Savannah to CSX’s intermodal terminal in Rocky Mount, North Carolina.
Fuel costs were overshadowed by skyrocketing freight rates amid the supply chain crisis. Now, fuel costs are much more important.
Kent Britton was named as CEO of the Port of Corpus Christi on Wednesday after the previous chief executive abruptly resigned in May.
Along with a six-year port agreement, President Biden is underscoring the role of UPS Teamsters and ocean shipping reform in boosting the U.S. economy.
This was supposed to be a banner year for crude tankers, but output cuts and the Russian price cap are keeping rates under pressure.
Have shipping stocks been a good bet? Here’s a look at their performance year to date and versus pre-COVID.
Barge rates on the Mississippi in St. Louis, a key port, have risen sharply due to low water levels on the river.
Today’s refrigeration systems in transportation are extremely sophisticated, rooted in a history that reaches back nearly 150 years.
Based on current port data compiled by American Shipper, the East Coast and Gulf ports are strongly favored over West Coast ports.
Persistent congestion and higher delays at the Panama Canal could lead to lasting changes in global LPG shipping flows.
With the Panama Canal drought expected to continue, now might be the time for shippers to seek alternatives.
Asia-U.S. spot shipping rates have pulled back after a strong run-up, implying peak season may have passed its peak.
The Florida Legislature is providing $30 million for two new ship-to-shore cranes that Jaxport says will let more cargo move efficiently through the Port of Jacksonville.
Houston and New Orleans reported increased monthly cargo during July, while Corpus Christi posted a rise in crude oil exports.
Average CEO compensation rose as ocean shipping company earnings increased, fueled in many cases by share-based compensation.
Panama’s drought poses a serious challenge to the country’s canal operations, but fallout to global trade remains limited.
Freight booking platform Freightos is working to reduce its cash burn as it continues to grow and add new products.
July volumes at the Port of Charleston and South Carolina Ports rose 12% from June and 3% year over year.
Unprecedented supply-demand imbalances amid the pandemic led to historic dividend payouts by container shipping lines.
The global coal trade is thriving, with dry bulk ships busy carrying the loads. As the West consumes less coal, Asia buys even more.
Rail volumes to and from the Canadian ports of Vancouver and Prince Rupert are returning to normal after the 13-day strike in July, although capacity to catch up on the backlog appears limited for now, according to RailState’s analysis of its data.
Spot ocean shipping rates from Europe to the U.S. held up much longer than trans-Pacific rates. Now they’ve sunk to historic lows.
Zim lost $213 million in the second quarter. Will rising trans-Pacific spot rates help it reverse course in the third?
Price caps have been breached, discounts on Russian exports are dwindling, and more money is flowing to Russian coffers.
Looking ahead, Taiwanese ocean carrier Yang Ming said that “the overall momentum for economic recovery over the next two years still appears relatively weak.”
Container volumes in July rose sequentially by 17% but were down by 16% year over year at the Port of Savannah, the Georgia Ports Authority said Thursday.
Ocean carrier HMM attributed much of its first-half net-profit nosedive of 90% to overcapacity in the container shipping industry.
“Weaker demand and lower freight rates are having a very noticeable impact on our earnings,” said Hapag-Lloyd CEO Rolf Habben Jansen.
Containerized imports are rising seasonally, as expected. This year is on track to top pre-pandemic volumes by low single digits.
Expeditors had a second-quarter financial performance that might be expected from a company active in the air and ocean freight markets.