US exports of crude oil and diesel are climbing even higher
Tankers are very busy loading up with American crude oil and refined products sold to overseas buyers.
Stay Up to Date on the Cargo Shipping Industry
The outbreak of the COVID-19 pandemic had a negative impact on shipping industry growth in 2020. With the world in lockdown, demand for non-essential consumer goods (and the means to ship them) decreased. Shipment of manufactured goods also decreased as factories closed in an effort to slow the spread of the virus. On top of that, China — one of the world’s largest exporters — was at the center of the pandemic, leading several countries to stop trade with the nation altogether.
According to the United Nations Conference on Trade and Development (UNCTAD), maritime shipping industry growth will likely slow or remain flat in 2023, driven by inflation and the ongoing war in Ukraine. For the overall 2023–2027 period, UNCTAD predicts growth at an annual average rate of 2.1%, slower than the previous 30-year average of 3.3%.
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Tankers are very busy loading up with American crude oil and refined products sold to overseas buyers.
Container shipping spot rates continue to ease but are still many times higher than they were pre-pandemic.
Peak season imports are expected to remain strong but rail delays require ‘immediate’ attention, says Port of LA’s Gene Seroka.
Congress introduced a bill to protect the health of port communities and address climate and environmental justice issues.
From crude tankers to product carriers to dry cargo ships, the largest vessels are earning less than their smaller counterparts.
Southern California ports can’t evacuate import containers fast enough. The backlog has yet again reached critical levels.
There were 125 container ships waiting offshore on Friday, including 36 off Savannah, 24 off Southern California and 20 each off Houston and New York.
In the second quarter, new highs were set for Cosco profits, OOCL revenue per container, and Evergreen operating revenues.
The number of import containers sitting at LA/LB terminals for nine days or more has more than doubled since February.
A shipping researcher dubbed July 1 “Bloody Friday” due to a large drop in stock prices for several shipping companies.
Spot freight rates are easing, but in a sign of resilience, container-ship charter rates remain near all-time highs.
A flood of newly built container ships will be delivered by shipyards in 2023-25. Can liners maintain pricing power?
Container shipping rates remain far above pre-COVID levels, yet there are more signs of prices easing.
The first half has been phenomenal for product tankers. How much of shipping upside is due to the war?
FreightWaves founder and CEO Craig Fuller analyzes the bullwhip effect on the current retail and trucking environments.
The drowning of over 15,000 sheep off Sudan is just the latest in a very long line of black marks for livestock shipping.
Retail sales are still up double digits compared to pre-COVID. Inventory-to-sales ratios have yet to fully recover.
America’s peak cargo importing season will start early this year, by the end of this month, says the Port of Los Angeles boss.
Bulk commodity shipping stocks held up well before this month. Now they’re falling alongside container shipping stocks.
Analysts from J.P. Morgan and Bank of America warned of an impending disaster for U.S. imports.
May was one of the busiest months in history for the container ports of Long Beach and Charleston.
With President Biden to speak at the Port of Los Angeles on Friday, here’s a look at how California’s San Pedro Bay emerged as America’s key port complex.
The International Maritime Organization and a California congressman look for strategies to lower emissions on World Ocean Day.
EU sanctions on Russian petroleum exports could have much more serious repercussions than earlier U.S. moves.
Maersk said it can provide end-to-end supply chain solutions with its ships calling its APM Terminals Elizabeth, followed by clearance through Maersk Customs Services and finally storage, fulfillment distribution and inland transportation through Performance Team.
CMA CGM, the world’s third largest liner company, froze spot rates in September-January, yet its revenue per container kept rising.
It took longer than expected, but the IMO 2020 investment pitch — save on ship fuel by installing scrubbers — is paying off big time.
An expert reveals what’s wrong with ocean shipping giants. Consumers are footing the bill for their massive profits.
The number of container ships waiting off Los Angeles/Long Beach recently sank to 25, the lowest tally since July 2021.
While the Federal Maritime Commission’s Rebecca Dye found no evidence of collusion among the major ocean carriers, an investigation into the “numerous charges” they assess still could be launched.
Tankers are loading up on American crude, diesel and gasoline exports. Can the free market withstand political pressure?
A Florida trio was recently sentenced to federal prison for their roles in a $200 million infant formula fraud scheme.
Without sanctions, tankers will keep loading Russian oil. ‘We’re not taking a moral high ground,’ says Frontline’s CEO.
Safety stats show resilience despite aging ships, cut corners on maintenance and rising pressure on seafarers.
East Coast gasoline inventories are alarmingly low. Gasoline imports from Europe could help but may not be enough to fill the gap.
It has been a terrible year for the stock market, a great one (so far) for product tanker and dry bulk shipping stocks.
Megaships are helping cause our current supply chain chaos. Big container boats have hampered competition and clogged up ports.
Zim continues to outpace growth rates of rival container shipping lines, but investor demand fears are on the rise.
Container shipping spot rates are easing, at least temporarily, and far fewer ships are stuck waiting off U.S. ports.
FreightWaves founder and CEO Craig Fuller lays out the premise of Freedom Trade.
Ocean carrier Hapag-Lloyd sees consumer demand and spot rates slipping, with market highs in the rearview mirror.
First came a pause in cargo bookings to Russia. Now, ocean carriers have halted almost all of their Russian port calls.
Shares of ocean shipping companies have given back much of their 2022 gains after another big sell-off.
The pain at the pump keeps getting worse. Bad news for consumers. Good news for owners of refined product tankers.
‘Right now, we don’t see a huge buildup of volumes because of the closedown in Shanghai,’ reports Maersk CEO Soren Skou.
New container prices, new production, lease rates, lease durations and used container prices are all down.
Container-ship transits of the Panama Canal are up as liners favor the East Coast. LNG transits are down as U.S. gas heads to Europe.
Craig Fuller explains the impact of higher diesel prices on the U.S. economy and consumers.
New reports from Maersk, Kuehne+Nagel and Drewry point to an ongoing boom for container shipping lines.
Retail stock pickers seem increasingly nervous about shipping. Shares of dry bulk, tanker, container and mixed-fleet owners all fell.
FreightWaves founder and CEO Craig Fuller writes about the impact of Chinese lockdowns on global supply chains and the U.S. trucking industry.
The Shanghai lockdown isn’t following the same supply chain script as the big Chinese disruptions of 2020 and 2021.
The trans-Pacific container trade is vastly different than pre-pandemic, with more ships, more competition, and a new leader: Maersk.
Russian imports via ocean, truck, rail and air are now being simultaneously squeezed. Shipping data shows growing pressure.
FreightWaves Founder and CEO Craig Fuller analyzes the impact of the latest Chinese lockdowns on the supply chains between China and the U.S.
Tanker, bulker and LNG shipping stocks rise as domestic freight and container stocks face pressure.
The future of global supply chains is in flux. The pandemic was a game changer. Then came the war.
The debate heats up on whether this is the beginning of the end of container shipping’s bull run.
The biggest deal in tanker shipping history would merge Euronav and Frontline, but consolidation is no panacea.
The partnership marks a “pivotal step” toward making green e-methanol more accessible and commercially viable for the maritime industry.
Folding five empty shipping containers into the space of one could curb smuggling, save shippers money and reduce emissions.
RH confirms sharp drop in demand since Russia-Ukraine war and sees no supply chain relief.
Charter rates hold steady at their peak as the seemingly neverending container shipping boom continues.
U.S. LNG cargoes were already flooding toward Europe months before the new deal. Real progress seems years away.
Some shipping shares are rising because of war tailwinds. Others are rising despite war headwinds.
Cost of shipping crude oil remains cheap, but tanker rates could jump if the war doesn’t end by fall.
Ship-position data shows a fleet of LNG carriers en route to Europe amid scramble to bolster energy supply.
Congestion could go from bad to worse as liners steer a record number of container ships toward East Coast ports.
California ports make progress on bottlenecks, but Chinese lockdowns could spur “hockey stick” import rise.
“Solving the climate emergency and decarbonizing our customers’ supply chains is a strategic imperative for Maersk,” said CEO Soren Skou.
COVID lockdowns haven’t closed Chinese ports yet. If they do, U.S. importers face “shockwave” of higher rates and delays.
A $150 million project at the Port of Brunswick will increase annual capacity to 1.4 million vehicles.
Rising sea levels and increasingly extreme weather are expected to cost ports and shippers billions of dollars annually.
The six companies plan to produce at least 730,000 metric tons of green methanol by the end of 2025.
COVID has been great for container shipping, terrible for cruising. What does this mean to MSC, which is big in both?
Vessel strikes are a major threat to whales, so better monitoring of their locations could help reduce collisions.
In general, land-based oil spills are more time-intensive to clean up, but oil spreads out more rapidly in water.
Liner company Zim expects to rake in a billion dollars more this year than in record-setting 2021.
Invasion and price spikes could destroy demand, weaken consumer confidence and curb cargo volumes, warns BIMCO.
The cost of the fuel consumed by the world’s commercial ships has skyrocketed — and it’s still rising.
Arkansas Gov. Asa Hutchinson is a leader in computer science education; Jonathan Hoffman has expertise in national defense.
Companies like ACI Logistix are using this broader approach to delivery as leverage in building their businesses.
Tanker stocks favored by retail traders post big gains, while most container and dry bulk stocks hold steady.
Container lines and tanker owners rapidly and preemptively suspend business with Russia.
The Felicity Ace, which caught fire in the Atlantic on Feb. 16, was transporting luxury vehicles to the United States.
Container lines, shipowners and shippers have a new way to navigate the market chaos: cleared freight futures.
FreightWaves is covering the logistics-related fallout from Russia’s invasion of Ukraine from the air to the ground to the sea.
The container port business is booming and the big are getting bigger, particularly in China.
There are now more container ships waiting off East and Gulf Coast ports than there are off Los Angeles/Long Beach.
Tanker and dry bulk trades could be disrupted; container shipping faces heightened risk of cyberattacks.
Expeditors announced its earnings while it is in the midst of a cyberattack.
“Partnering with Bunker Holding will accelerate the marine industry adoption of biodiesel to achieve aggressive carbon reduction goals,” said Bob Kenyon, senior vice president of sales and marketing at REG.
Volkswagen Group has not said how many vehicles are on the Felicity Ace or the breakdown of the models, although it has been reported they included 2022 Porsche Boxster Spyders as well as Audis, Bentleys and Lamborghinis.
The more ocean shipping is in the news, the more attention it gets from tech founders and investors.
Of 18 companies that Friend of the Sea evaluated, it identified Hapag-Lloyd as “the international shipping company most committed to minimizing the risk of whale ship strikes.”
The crew of 22 was rescued for ship headed to the United States.
“Removing plastic waste is a priority when discussing the protection of our oceans and conserving biodiversity,” CMA CGM Group said.
Green ammonia production emits no carbon dioxide, but it has major safety, cost and scaling hurdles to overcome.
After last year’s historic run-up, factories are producing fewer containers and pricing of new boxes is down.
Xeneta CEO Patrik Berglund explains how carrier negotiating power has changed the annual contracting equation.