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Freight In

Improving U.S. Freight Transportation System

The Panel on 21st Century Freight Transportation published its final report on United States freight transportation, offering an assessment of its current condition with recommendations for strengthening nationwide infrastructure and U.S. economy. The panel, led by its Chairman, U.S. Rep John J. Duncan, Jr. (R-TN) and Ranking Member Jerrold Nadler (D-N.Y.), was founded by Full Committee Chairman Bill Shuster (R-Pa.) and Ranking Member Nick J. Rahall, II (D-W.Va.) in April 2013 to examine U.S. freight transportation, the role it plays on the nation’s economy and ways in which it may be improved, including financially, structurally and technologically. The Freight Panel offered to Congress a list of suggestions to “safely and efficiently meet the needs of freight movement in the 21st century:” Direct the Secretary of Transportation, in coordination with the Secretary of the Army and the Commandant of the U.S. Coast Guard, to establish a comprehensive national freight transportation policy and designate a national, multimodal freight network; Ensure robust public investment in all modes of transportation on which freight movement relies, and incentivize additional private investment in freight transportation facilities, to maintain and improve the condition and performance of the freight transportation network;


Crude Oil Tanker Market Weakened, says OPEC

Graph provided by OPEC

 Crude oil tanker market sentiment weakened in April as average spot freight rates dropped on most reported routes, OPEC said in its latest monthly report.   On average, dirty tanker freight rates were down 8% from the month before.  Despite a stronger market seen in the VLCC sector, average dirty spot freight rates declined, influenced by the declines in Suezmax and Aframax freight rates.   


World Container Index (WCI) to launch in September

Drewry Shipping Consultants and The Cleartrade Exchange announced that the World Container Index (WCI), the first Europe-based assessment of container freight rates and index production, is scheduled for launch in September 2011. The index will be designed to provide a new and important facility for the global market to hedge their freight rate risk and see major improvements in forward price discovery through the container derivatives market.


Asia to Northern Europe Shipping Rates Jump 177%

Photo by Maersk Line

 Asia to Northern Europe shipping freight rates for transporting containers jumped by 177.3 percent to $1.109 per 20-foot container (TEU) in the week ended on Friday, reports Reuters, quoting data from the Shanghai Shipping Exchange.   As all major container shipping lines implemented a price hike announced earlier, the  freight rates rose nearly three-fold.   Freight rates on the world’s busiest shipping route have tanked this year due to overcapacity in


Logistics Confidence Index Again on the Increase

Stifel Nicolaus Logistics Confidence Index suggests the current market remains weak, however the outlook is increasingly positive. The Stifel Nicolaus Logistics Confidence Index increased for the third consecutive month in January 2013, according to the latest industry study undertaken by Transport Intelligence. The overall index, an average of the current and expected situation, increased 0.8 points to 48.8 from 48.0 in the last month of 2012.


Shipbrokers, Oil Brokerage House Form Freight Forwards

BraemarTankers Ltd., Galbraith's Ltd., E.A.Gibson Shipbrokers Ltd., PVM Oil Associates Ltd. and Seascope Shipping Ltd. have formed Global Freight Forwards Limited. The company has been created initially to broker forward freight swaps for the tanker market segment in key trade routes. Contracts have been devised to meet multi-client needs and in response to Owners' and Charterers' requirements for freight protection without taking physical delivery.


Crowley Merges Jarvis International Freight into Crowley Logistics

Crowley-Press-Release-Containers_High-Res.JPG

Business Unit to Now Offer Project Logistics and Global Freight Management Services to New Industries and more Geographic Locations. Crowley Maritime Corporation announced today that its recently acquired Houston-based, freight forwarding, export packing and logistics company, Jarvis International Freight, Inc., will transition into the company as a new branch of Crowley Logistics, offering project logistics and global freight management services to a wider array of industries and in more


Free App Makes Freight Markets Mobile

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Freight Investor Services (FIS), a broker of freight and commodity swaps, launched a mobile app that puts the freight and commodity swaps market in the hands of users, wherever they are. The app combines indicative market prices across the main freight and commodity groups with powerful graphing to display forward curves and historical spot prices. Also included are FIS daily reports for all markets, including closing curves, commentaries, spreads and ratios.


IRS Changes Freight Tax Exemption

The US Internal Revenue Service (IRS) issued final, temporary and proposed regulations recently that significantly change certain requirements to claim the exemption from freight tax. In addition, the regulations clarify that certain activities will be treated as "incidental" to international shipping operations, meaning that income from these incidental activities can qualify for the exemption from freight tax. (Source: HK


Halonen Named COO, Greencarrier Freight Services

Jarmo Halonen Photo Greencarrier Freight Services

Greencarrier Freight Services has promoted Jarmo Halonen to the role of Chief Operating Officer, with combined responsibility for the company’s air, ocean, road and rail freight activities. This is the first time the four modes have been brought under the control of one director.   Mr Halonen, formerly Group Director Road Freight, says: “We felt that it was important to bring together all the services we offer to ensure we can focus on our international growth and strengthen


Study Examines Economic Impact of US Waterways

© Tak Inaba / Adobe Stock

A study unveiled today documents the contribution of the American tugboat, towboat and barge industry to the U.S. economy.   The study, developed through a cooperative agreement between the American Waterways Operators (AWO) and the Maritime Administration (MARAD) and conducted by


Baltic Index Flat After Nine Winning Sessions

File Image (CREDIT: AdobeStock / (c) Lukasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, was flat on Monday, as gains across capesize vessels were offset by lower rates for panamaxes.   The overall index, which factors in rates for capesize, panamax


Antwerp Port Container Freight Up by 2.5%

Photo: Port of Antwerp

 The port of Antwerp handled 111,385,518 tonnes of freight during the first six months of this year, 2.8% more than in the same period last year.    Container freight once more performed well after a number of exceptional years, with an increase of 2.5% in terms of tonnage and 1


Baltic Index Gains for Seventh Straight Session

© bergamont / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for seventh session in a row on Wednesday supported by stronger demand for larger vessels.   The overall index, which factors in rates for capesize, panamax


DHS Custom Passenger Ferry Launched

Photo: Gulfstream Shipbuilding

Gulfstream Shipbuilding launched a custom passenger/vehicle ferry for the U.S. Department of Homeland Security (DHS) on July 12, 2017.  This 118 x 27 x 10.75 ft. crew boat-style vessel will be delivered in the fall 2017 to service the New York and Connecticut waters


Smaller Tonnage Buoys Baltic Index

File Image: a handy sized bulk carrier (FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday, tracking gains across panamax and smaller vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Low Water Still Hampers Rhine, Danube shipping

File Image: A typical tow makes its way along the Danube River in Germany (CREDIT: AdobeStock / (c) digitalstock)

Water on the Rhine and Danube in Germany remains shallow and cargo vessels cannot sail fully loaded, traders said on Monday.   The rivers had fallen below normal levels in late June after dry weather.   The Rhine is still too shallow for normal sailings from Duisburg and Cologne to


Stronger Rates Across Vessels Lift Baltic Index

© Aihsan Ariturk / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday as rates climbed further across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 12 points, or 1


Baltic Index Snaps Eight-session Losing Streak

© Amarinj / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday to snap an eight-day losing streak, boosted by improved rates across all vessel segments. The overall index, which factors in rates for capesize, panamax


Baltic Index Down Again

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, inched lower on Monday on weaker rates for larger vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 2 points, or 0


Firmer MidEast, WAfrica Sentiment Supports VLCC Rates

File Image (CREDIT: AdobeStock / (c) Carabay)

Middle East rates helped by fewer old vessels; about 96 MidEast cargoes fixed, 25 to come.   Freight rates for very large crude carriers (VLCCs) could rise next week on firm sentiment in the Middle East and West Africa markets but higher oil prices and fewer floating storage opportunities


COSCO Records H1 Profit on Improving Market

File Image (CREDIT: AdobeStock / (c) Marina Ignatova)

COSCO Shipping Holdings expects to post a profit of around 1.85 billion yuan ($272 million) in the first half, helped by an improving shipping market.   The world's fourth-largest container shipping line made the forecast in a stock market statement on Thursday. It recorded a loss of 7


Baltic Index Falters Again

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped for the fifth straight session on Wednesday, hurt by lower rates for larger vessels and supramax.   The overall index, which factors in rates for capesize, panamax


Oil Spilled After U.S. Train Derailment

File Image: A typical Crude Oil train in the United states makes its way south along inalnd waterways. CREDIT: Dagmar Etkin

Canadian National Railway Co said about 20,000 gallons of oil was released following a freight train derailment at Plainfield, the U.S. state of Illinois on Friday, according to a filing with state pollution regulators.   The cause of the derailment was unknown


Lower Rates for Large Vessels Weighs on Baltic Index

File photo: d’Amico Group

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped for the second straight session on Friday on weak rates for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels






 
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