Maritime

Even with a 15-20% increase in container freight costs from Asia to the U.S., prices would still be far below 2018 rates.

Ocean shipping along the coast of Oman, in the Middle East and throughout the Arabian Sea, is being disrupted by Cyclone Kyarr – the most powerful storm ever in that sea-space. However, local sources advise that shipping through a globally critical oil chokepoint, the Strait of Hormuz, is unaffected.

Hutchison Port Holdings Trust (SGX: NS8U), a Singapore Stock Exchange-listed container terminal operator active in Hong Kong and mainland China, has reported a small decline in unaudited revenues for the nine months to September. That led to a 5% fall in profit after tax.

Hong Kong Stock Exchange-listed ocean container carrier SITC (HKEX: 01308) has reported increases in its unaudited third-quarter results despite a global trade slowdown and the China-U.S. trade war. SITC’s container revenues and volumes have both increased.

CAI International Inc. (NYSE: CAI), a leading container-leasing and logistics company, said it had modest year-over-year growth in revenue from continuing operations in the third quarter but that it had a net loss because of its decision to seek a buyer for its railcar fleet. The company reported total revenue of $107.6 million in the […]

Biesterfeld: “We expect that North American routing guides will continue to reset at lower prices.”

World’s largest shipping line teams up with major customers in test of carbon-neutral fuel.

Floating storage, scrubbers delays and newbuilding unease should continue to squeeze crude-tanker capacity.

If container carriers refrain from adding too much capacity, transpacific freight rates may rise in coming months, says Drewry Shipping Consultants.

CEVA Logistics, the third-party logistics subsidiary purchased by the French shipping giant in April, will cross-sell and share warehousing with Wing.

Of the 200 U.S.-flag shipping companies that were formed after World War I, only one remains in operation today.

Fewer cargoes, lower freight rates, higher fuel costs and the consequences of operating a smaller fleet during a time of a slowdown in world trade has led intra-Asia specialist, Samudera Shipping (SGX: S56 / SAMU.SI), to report a net loss for the third quarter of the year.

Poor navigation and poor “bridge resource management” were the cause of the Maersk container ship, the Leda Maersk, running aground in a New Zealand harbor channel during fair weather.

Growing source of U.S. containerized goods imposes navigation restrictions due to sunken boxship.

Market prognosticators have been saying dry bulk will recover “next year” almost every year for the past decade. Will it finally happen in 2020?

Francis Alvarez, who operated a forwarding service in Houston, faces a maximum of 10 years in prison and a $1 million fine for violating the Sherman Act.

Engines in Australian trucks may have been modified to allow them to break speed limits. Australian police have been reading premises across the country. In other Down Under News: APE eats up AHG; new boss for Orcoda; mobile phone driving surveillance laws; broken bridges; accident black spots; corporate debt.

Offshore energy operations could get competition from foreign ships.

Orient Overseas Container Line (OOCL) said both container volumes and revenue were higher in the third quarter this year than in 2018.

Marine transportation outperforms as barging gets back to normal, but other units struggling.