Page 19 - Freight Waves News Today

Why this tanker shipping depression is different from past slumps Shipping busts can be even more exciting than shipping booms. When spot rates crash, debt comes due, vessels are arrested, bankruptcies pile up and vultures swoop in. But not all shipping collapses are so action-packed. Sometimes things never devolve into total crisis mode. Sometimes the market gets stuck in limbo — like tankers are now. Tanker rates have wallowed at or near historic lows throughout 2021, weighed by oil invento...

No relief: Global container shortage likely to last until 2022 The world does not have enough containers in the right places to handle cargo demand. It’s a conundrum that has persisted for so long that the mainstream press is finally covering it. The New York Times reported Friday how the box shortfall is contributing to inflation: “Demand … has outstripped the availability of containers,” while the U.S. pandemic situation has eased to the point where retailers can pass along higher tra...

Which shipping stocks rose the most in wake of COVID pandemic? The stock market has boomed in the COVID era, driven by fiscal and monetary policy and surging retail-investor interest. Many ocean shipping stocks — with the glaring exception of tanker equities — have followed suit. Which U.S.-listed shipping stocks rose the most? Price gains arbitrarily depend on which date range you choose. For shipping, the current one-year range is perhaps the best gauge of stock moves. Broader equity mark...

In 2020, shipping executives predicted the container-shipping capacity squeeze would last until Chinese New Year in February 2021. When that didn’t happen, they said mid-2021. The bar is now moving further out — to the fourth quarter or beyond. After market close on Tuesday, Matson (NYSE: MATX) CEO Matt Cox said on a conference call ...

‘Sky’s the limit’ for already lofty container-ship charter rates Just when you thought container shipping couldn’t get any hotter, it has. Liners are desperate for more ships to handle booming cargo demand. Companies known as tonnage providers or nonoperating owners (NOOs) — which own ships and lease them to liners — are now achieving rates and charter durations that haven’t been seen since the mid-2000s. The “sky’s the limit for charter rates,” said Alphaliner in its new we...

by Tyler Durden By Greg Miller, Senior Editor at Freight Waves, Prosecutors called it “the largest cocaine seizure in the 230-year history of U.S. Customs and Border Protection.” Twenty tons of cocaine worth $1 billion was found in seven containers aboard the MSC Gayane at the Philadelphia port on June 17, 2019. On Tuesday, the first of the conspirators — former MSC crewmember Vladimir Penda — was sentenced to five years and 10 months in prison for his crime. Fresh details on who was in...

Another shipping stock bites the dust as big tanker fleets merge The same cast of characters has been in tanker circles for years. If their company goes bust, they pop up somewhere else. Sometimes they fight with each other. Sometimes they cooperate. Occasionally, they sell their entire fleets to one another (and re-emerge after their non-competes expire). One such rare fleet deal was announced Wednesday morning: New York-based International Seaways (NYSE: INSW) will merge with Connecticut-base...

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

4 February 2021, 1:08 am EST By Recently, a trucking company, Forward air has just recovered from a ransomware attack. Even though the incident has already been dealt with, the company said it left a $7.5 million mark on the Q4 financial results. Furthermore, the company has vowed that even amidst the attack, it will not pay the ransomware demand. (Photo : Screenshot Youtube Video by 365 Trains & Trucks) According to ZD Net, the dent was reported as a loss of revenue outside of the cost that t...

Eight Must Reads for the CRE Industry Today (Feb. 1, 2021) Knotel filed for chapter 11 bankruptcy protection and will be taken over by Newmark Group, reports The Wall Street Journal. The WeWork meltdown will get turned into a prestige limited series by Apple with Jared Leto and Anne Hathaway starring, according to The Verge. These are among today’s must reads from around the commercial real estate industry. Real-Estate Startup Knotel Files for Chapter 11 Bankruptcy “Real-estate start...