Category: Shipping

February 9, 2024

During the sixth week, the Marine Bunker Exchange (MABUX) global bunker indices experienced a modest decline. The 380 HSFO index dropped by US$8.74 to US$507.44/MT, edging closer to the US$500 threshold. Similarly, the VLSFO index decreased by US$10 with a […]

February 8, 2024

Insurer Swiss Re has come up with a chart to highlight the dramatic changes to the world seaborne map in recent years as shipping faces disruption in the Red and Black Seas as well as the Panama Canal and multiple […]

February 8, 2024

The global economy is heading towards monetary easing, expected to arrive in the following months. This could trigger a rebound in trade growth dynamics and demand across the board. In its latest weekly report, shipbroker Xclusiv said that “despite record […]

February 7, 2024

New data from Lloyd’s List Intelligence shows an acceleration of tankers diverting away from the Red Sea. Since Jan. 12, when the first of three U.S.-led military strikes began on Houthi land targets, more than 106 tankers have changed routes […]

February 6, 2024

Federal Reserve Chair Jerome Powell said Sunday his committee is unlikely to consider cutting the federal funds rate at its next meeting in March. The implication from his remarks in a “60 Minutes” interview was that the board would not […]

February 5, 2024

For the first 30 or so months of her tenure, UPS CEO Carol B. Tomé had the wind at her back. For the past year, however, a gale force storm has been blowing right at the company. The question is […]

February 1, 2024

FedEx has portrayed its new air network redesign in terms of streamlining the high-cost overnight parcel operation, but internal communications show the express delivery giant also sees an opportunity to aggressively go after heavyweight cargo booked by logistic providers to […]

February 1, 2024

Insurance has been a hot topic across the trucking industry over the past several years. Most often, however, insurance talks revolve around motor carriers and truck drivers. Freight brokers have largely been left out of the conversation. Broker liability is […]

January 30, 2024

Rail is often characterized as one of the more “old school” transportation options, but recent developments in the space have challenged that narrative. Railroad giant CSX, for example, is dedicated to investing both financial and human capital into a myriad […]

January 26, 2024

Several labor regulations in various stages of development could have wide-ranging effects on the trucking industry this year. Trucking executives will be focused on the regulatory rules, which are poised to go into effect alongside a separate slate of equipment […]

January 25, 2024

As major container shipping lines consistently bypass the Red Sea to avoid the threat of rebel missile attacks, air cargo volumes are finally getting a boost. Preliminary data now backs anecdotal reports a month ago of businesses shifting some Asia […]

January 24, 2024

Truckload carrier Covenant Logistics Group beat fourth-quarter expectations for profit and revenue, “despite the lingering weakness in the overall freight environment,” according to Tripp Grant, executive vice president. Chattanooga, Tennessee-based Covenant (NASDAQ: CVLG) reported fourth-quarter earnings after the market closed […]

January 24, 2024

In a most recent move for shipping data providers, multinational tech corporation ABB has acquired the shipping business of weather and meteorological forecasting specialist DTN. ABB acquired the shipping business of DTN Europe and DTN Philippines expanding the company’s offering […]

January 23, 2024

China Cargo Airlines has postponed until April plans to launch scheduled freighter service to Miami, which will make it the first Chinese carrier to operate between the city and mainland China. Worldwide Flight Services had announced in December that the […]

January 23, 2024

Efforts to build an international container terminal at the Port of New Orleans capable of handling ultralarge container vessels got a boost Monday from the federal government. The port announced it was awarded an additional $226.2 million grant to assist […]

January 22, 2024

Both inland ports at South Carolina Ports handled a record number of containers in the last year with Inland Port Greer moving 175,873 containers, translating to a 26% year-over-year growth and Inland Port Dillon increasing its volume by 55% to […]

January 22, 2024

Port of Oakland saw its container volumes decrease by 11.6% to 2,065,709 TEUs with full containers declining by 10.1% to 1,574,444 TEUs in 2023. “2023 finished strong,” pointed out Port of Oakland Maritime Director Bryan Brandes, adding, “Carrier on-time performance […]

January 18, 2024

The queue of ships waiting at both ends of the Panama Canal stands at just half the historical average since the waterway expanded back in 2016, highlighting the dramatic shift in seaborne trades in the western hemisphere seen in recent […]

January 17, 2024

The Red Sea exodus is gaining traction in multiple sectors with Egypt coming to terms with the fact that it will take a very big hit in revenues generated from Suez Canal transits this year. Suez Canal transits generated $10.25bn […]

January 16, 2024

Five NGOs – Fossielvrij, Protect our Winters, Dryade, CLAW, and Opportunity Green – have launched a legal challenge against the European Commission, requesting it to review its green investment rules on aviation and shipping. In Tuesday’s press release, Opportunity Green […]