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Maritime

FreightWaves Oil Report: Some words of assurance on IMO2020 supplies from a veteran oil trader

A weekly look at what occurred in the oil markets of the U.S. and the world this past week and what’s ahead. From left to right: Michael Winstone, Freepoint Commodities; Ananth Srinivasan, V-Tic Services; Giacomo Rispoli, Eni; Ralph Grimmer, Stillwater Associates; Richard Swann, S&P Global Platts It’s going to be OK. That was the message …

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Major Indian port in path of tropical cyclone

Tropical Cyclone Vayu formed in the Arabian Sea earlier this week, the eye brushing by the northwestern coast of India on Thursday, June 13. Ahead of the storm, airports were shut down, schools were closed and hundreds of thousands of people were evacuated. Powerful winds about 70 miles from the eye of the storm reached …

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Commentary: Tariffs are terrible taxes

FreightWaves features Market Voices – a forum for market experts with unique knowledge from numerous transportation sectors and other critical expertise. Anything that inhibits trade, in the long run, results in lower prosperity for everyone globally. Tariffs, between the U.S. and its trading partners, represent one of the worst forms of taxation for several basic …

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Port Report: China’s massive growth in ocean box shipping and over-the-road trucking

The scale and growth of China’s domestic over-the-road and international ocean container shipping trade has been revealed in new data from the country’s Ministry of Transport. Last year the country shipped 249.8 million twenty-foot equivalent shipping units (TEUs), which was a 5.3 percent increase on the previous year. The total weight of the cargo in …

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DryShips’ fleet valuation provides support for Economou bid

Since its public debut in 2005, George Economou-led DryShips (NASDAQ: DRYS ) has stood out from the pack in the public shipping arena. It has done more controversial related-party deals than any other listed shipping player. It has been sued by shareholders more often than any other public owner (although it has yet to lose …

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IMO 2020 presentations outline scenarios for fuel switching that will impact diesel markets

The threat to the trucking industry from the IMO 2020 regulation has always been whether the new rule affecting marine fuels is going to pull so much product from the distillate/diesel supply chain that the pain at the pump affects both trucking capacity and the bottom line for carriers big and small. In two presentations …

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Port Report: Sleepless in Seattle as big terminal goes for late gates

Washington’s container ports are looking to incent marine terminals to open at off-peak hours for trucks in preparation for the peak shipping season. The move underscores how U.S. ports are hoping to prevent a repeat of last year’s well-documented container congestion. The Northwest Seaport Alliance (NWSA), which oversees the ports of Seattle and Tacoma, said …

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Ocean Rate Report: Suezmaxes spike, containers and LNG plateau

The big news for ocean shipping freight rates this week is demand out of the oil-producing nations of West Africa, which is pushing up rates for the second-largest category of crude oil tanker. The container sector has rebounded from May’s travails, at least somewhat, while rates for liquefied natural gas (LNG) carriers have stumbled to …

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Port Report: Los Angeles port boss says workers must prep for future

The Port of Los Angeles saw May container volumes grow at their best year-to-date level since January, even as empty containers still account for most of the growth. To keep volumes going, the seaport’s employees will face a changing workplace in the coming years as new technologies improve cargo fluidity, the port’s executive director said. …

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Commentary: Record number of empties – a logistical fact of life or a symptom of shipping dysfunction?

Note: FreightWaves occasionally publishes commentary from industry sources with expertise, information and opinion on current transportation topics. The opinions expressed in the article are solely those of the author and not necessarily those of FreightWaves. Submissions to FreightWaves are subject to editing. The author of this commentary is Nicholas Press, Founder and CEO of CEC …

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