FreightWaves Ocean

GCT will sell its terminal operations in Staten Island, New York, and Bayonne, New Jersey, to shipping giant CMA CGM.

Declining ship fuel prices equate to savings for containerized cargo shippers and lower costs for tanker and bulker owners.

Spot shipping rates continue their historic slide, putting even more pressure on container lines’ contract business.

Even if no oil moves under price caps, Russian exports could face deep discounts and continue to flow via “shadow tankers.”

Hopes that China will relax its zero-COVID policy are fading, raising concerns about shipping volume fallout.

Southern California’s container-ship logjam ends as congestion eases at East and Gulf Coast ports.

Ocean carriers have been shielded by lucrative annual contracts with cargo shippers, but contract coverage is starting to crumble.

Stratospheric LNG shipping rates offer a lesson on the do’s and don’ts of measuring earnings momentum.

Global energy trades face even more tumult ahead. “This could get crazy,” says Scorpio Tankers’ Robert Bugbee.

Earnings for Zim, the world’s 10th largest ocean carrier, peaked in the first quarter and continue to slide as rates fall.

The head of Los Angeles’ port is on a worldwide sales blitz, trying to convince shippers and carriers to come back.

Drop in imports from China in recent months comes on the heels of years of gains by exporters in the rest of Asia.

Container shipping fundamentals are not as bad as spot rates imply, says the head of the world’s fifth-largest ocean carrier.

Imports remain 7% higher than pre-pandemic levels, with volumes steadying last month after September’s plunge.

Some VLGCs carrying propane and VLCCs carrying crude have joined LNG carriers in shipping’s six-figures-per-day club.

Europe must replace all seaborne crude imports from Russia within the next few weeks. Crude tanker owners stand to gain.

Maersk’s guidance implies fourth-quarter earnings will plunge 39% compared to the third-quarter peak.

Product-tanker share prices are up triple digits year to date as investors position for sanctions upside.

The world’s seventh-largest ocean carrier expects profits to fall, yet its projections remain vastly higher than pre-COVID levels.

Spot rate indexes look like they’re stabilizing — at least temporarily — after double-digit plunges in August and September.