Marine link
 

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.   


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.


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.


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.


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


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


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

NewPicture.jpg

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.


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


Baltic Index Edges Lower on Weaker Capesize Rates

(File photo: Star Bulk)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped on Wednesday as rates for capesize vessels fell. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 7 points or 0


Baltic Index Up On Firmer Rates for Panamaxes, Smaller Vessels

File photo: Star Bulk

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, inched higher on Monday, hitting a fresh nearly three-year high as rates for panamaxes and smaller vessels increased. The overall index, which factors in rates for capesize, panamax


Global BCOs Hit by Rising Contract Rates from Asia

Graph: Drewry Benchmarking Club

 Contract freight rates paid by Beneficial Cargo Owners to move their products by container have increased for a 4th consecutive quarter, according to actual contract rate data from the Drewry Benchmarking Club.   Average contract rates on two major container trade routes - from Asia


Marine Biofuels As Sustainable Alternative For Shipping

Participants of the roundtable share insights on the use of marine biofuels as sustainable alternative fuel for shipping. Photo: Maritime and Port Authority of Singapore

 The inaugural biofuel roundtable was held in Singapore today to drive discussions on the use of biofuels as a sustainable alternative fuel for the future of shipping.    Organised by the Maritime and Port Authority of Singapore (MPA), BHP and GoodFuels Marine (GoodFuels)


Baltic Index Inches Down on Capesize, Panamax Rates

File Image: CREDIT FedNav

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged down on Tuesday on lower rates across larger vessel segments.   The overall index — which factors in rates for capesize, panamax


Stena Adds Vessel on Gdynia-Karlskrona Line

(Photo: Stena Line)

Stena Lines reports the number of units carried by its Baltic Sea South freight business increased significantly in the first eight months in 2017, following strong growth through 2016.   This calls for increased capacity, and from Monday, August 28, a fourth ship, M/V Gute


Baltic Index Falls on Weaker Vessel Demand

© ArchonCodex / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday due to weaker demand for larger vessels. The overall index — which factors in rates for capesize, panamax, supramax and handysize shipping vessels — was down 22


Container Equipment Leasing Rates Under Pressure

Graph: Drewry Shipping Consultants Limited.

 Leasing companies are tightening their stranglehold over container equipment ownership as ocean carriers cut back on new purchasing and sell older inventory for leaseback, Drewry's report said.   But the lessors’ rapid expansion has come at a price as the combination of low


Awilco LNG Reduces Net Loss in Q2

Photo: Awilco LNG

 Norwegian based LNG transportation provider Awilco LNG reduced its net loss in the second quarter of this year due to higher activity of its vessels and steady spot rates.   Awilco LNG’s net loss dropped to $10.1 million in the second quarter, as compared to $11


Baltic Index Slips on Weaker Capesize Sector

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

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell slightly on Friday, dragged down by lower rates for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Drewry Warns BCOs to Adapt Their Contract Strategy

Image: Drewry Shipping Consultants Limited

 International transport and logistics executives using container shipping are facing the biggest shift in their ocean provider base for 20 years and must adapt their procurement and contract strategy, according to ocean freight procurement consultancy Drewry Supply Chain Advisors.  


More Cargo, Slower Steaming Support VLCC Rates

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

VLCC rates from MidEast to Asia gain around $3,000; higher chartering volumes for peak winter season could lift rates.   Freight rates for very large crude carriers (VLCCs) on Asian routes may have found a floor this week as a combination of increased chartering activity and some tankers


Baltic Index Hits near 3-year High

© Valentin Kundeus / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, touched a near three-year high on Monday, supported by higher rates across all vessel segments.   The overall index, which factors in rates for capesize, panamax


Baltic Index Eases From Near Three-Year High

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

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, snapped a six-day winning streak on Tuesday, weighed down by weaker rates for capesize vessels.   The overall index, which factors in rates for capesize, panamax


New Orleans' Big Plans Showing Dividends

(Photo: SEACOR)

A Container-on-Barge service intended to be an integral part of the regional intermodal equation is gathering momentum – and customers.    Quietly, the Port of New Orleans (NOLA) has marked some important accomplishments in the past two years, across multiple business sectors






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright