Carriers Blank More Sailings as Transpacific Box Rates Continue to Slide

By Gavin van Marle (The Loadstar) – A blanked sailing from the 2M+HMM grouping on the transpacific this week failed to halt the further erosion of freight rates to both the Asia-US west coast and Asia-US east coast destinations. The departure of the 8,500 teu Hyundai Faith, scheduled for this week, was cancelled “to rationalise […]

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Unrelenting Midwest Rains Add to Wettest 12 Months Ever for U.S.

By Brian K. Sullivan (Bloomberg) — The rain across the Midwest and Great Plains that’s closed refineries, flooded streets and snarled Mississippi River traffic shows no sign of abating, adding to the U.S.’s wettest 12-month stretch on record. Heavy showers will fall from Texas to the Great Lakes as a months-long pattern of storms continues […]

2020 Fuel Clampdown Risks Nosedive for Middle East Crude

By Serene Cheong and Sharon Cho (Bloomberg) — The global push for cleaner-burning ship fuel is threatening to drive the value of Middle East crude to a record low even as supplies are squeezed. The discount of Middle East’s Dubai crude to London’s Brent could widen beyond $8 a barrel from current levels around $4, according to […]

U.S. Blames Iran’s Revolutionary Guards for Tanker Attacks

By Phil Stewart, Idrees Ali and Roberta Rampton WASHINGTON, May 24 (Reuters) – The United States announced on Friday the deployment of 1,500 troops to the Middle East, describing it as an effort to bolster defenses against Iran as it accused the country’s Revolutionary Guards of direct responsibility for this month’s tanker attacks. U.S. President Donald […]

ITF Urges Canada to Halt Lashing on St. Lawrence River After Man Overboard Fatality

The International Transport Workers Federation is calling on Transport Canada to ban foreign-crew from undertaking lashing work while vessels are underway on the Saint Lawrence River the death of a Maersk Line officer earlier this week. The Sri Lankan Second Officer, named Ravindu Lakmal Pieris Telge, fell overboard from the containership Maersk Patras at approximately […]

Maersk Warns Trade Tensions are Hurting Shipping’s Growth

By Jacob Gronholt-Pedersen and Stine Jacobsen COPENHAGEN, May 24 (Reuters) – A.P. Moller-Maersk , the world’s largest container shipping company, warned on Friday that trade tensions and an economic slowdown are slowing growth in global freight. Maersk, which is seen as an indicator of global trade patterns, cut its forecast for global growth in container […]

Orange’s Sea Cable Repair Fleet Looks Beyond Investment Boom

By Angelina Rascouet (Bloomberg) — For decades, ships owned by French phone carrier Orange SA have traveled the world’s oceans, installing and fixing the undersea cables that carry internet traffic from one continent to another. The fleet of six run by Orange Marine is now looking to diversify, even with the biggest investment boom for […]