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Sinking Shipping Industry Eyeing Mergers to Stay Afloat

The global shipping industry is in the midst of a huge downturn, with weak demand engulfing it for the past few years. Experts acknowledge that the sector’s biggest hurdle is overcapacity, but the wave...

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Shipping Industry Calls for Exemption from Carbon Market Reform

The global shipping industry has urged the European Union to drop the sector's inclusion in proposals adopted Feb. 15 to reform the bloc's carbon market, saying it risks distorting trade and...

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Shipping Stocks That Soared After the Election Have Now Tanked

Shortly after Donald Trump was elected president Nov. 8, the stock prices of a slew of shipping companies soared by more than 1000% on hopes that commodity prices would rise and U.S. manufacturing...

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Global Shipping Fleet Braces for Chaos of $60 Billion Fuel Shock

Little more than 2½ years from now, the global fleet of merchant ships will have to reduce drastically how much sulfur their engines belch into the atmosphere.Rogan Ward/Reuters

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Philly Shipyard to Build Cargo Ships for New Shipping Line Serving Hawaii,...

Philly Shipyard announced June 8 that it will build up to four new containerships and is in “advanced discussions” to create a new cargo shipping line to provide transpacific service between the West...

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UPS Inc. to Add Holiday-Shipping Surcharge in November, December to Handle...

UPS Inc. will institute a holiday-shipping surcharge for residential delivery in much of November and December this year to help deal with the torrent of e-commerce shipping at that time of year.The...

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Amazon to Become Major Produce Shipper With Purchase of Whole Foods

With its pending purchase of the Whole Foods grocery chain, Amazon.com Inc. will become a major shipper of fresh produce, a transport market that has always been difficult and is now getting even more...

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Matson’s Earnings Increase by 33% as Hawaii Cargo Shipments Decline

Matson Inc. sailed over a shallow trough of lower Hawaii cargo shipments to produce a 33% profit gain in the second quarter largely driven by enhanced business in China and Alaska.The Honolulu-based...

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From Worst to Best: A Shipbuilder's Fortunes Turn Around

Yangzijiang Shipbuilding Holdings Ltd., which specializes in dry-bulk carriers, has rallied 83% in 2017 to lead the benchmark Straits Times Index. The Chinese shipbuilding firm has made a comeback...

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Maersk Says June Cyberattack Will Cost It Up to $300 Million

A.P. Moller-Maersk A/S said a cyberattack that hit the owner of the world’s biggest container shipping company at the end of June will wipe as much as $300 million off profits in the third quarter.The...

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E-Commerce Drives Global Package Shipping Volume to Rise 48% in Two Years

Global package shipping volume increased by 48% during the past two years, powered by growth in e-commerce, according to a report released last week by technology company Pitney Bowes.Package or parcel...

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Autonomous Ships Are Setting Sail in Boston

Frank Marino sat in a repurposed U.S. Coast Guard boat bobbing in Boston Harbor one morning late last month. He pointed the boat straight at a buoy several hundred yards away, while his colleague...

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Shipping Companies’ Expansion in Hawaii Could Go Bust for Some

When an established maritime company announced tentative plans last month to start a new domestic shipping line in 2020 to serve Hawaii, it said such service would provide “market stability.” But...

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Trump Waives Jones Act to Speed Up Aid Shipments to Puerto Rico

President Donald Trump ordered the Jones Act to be waived for shipments to hurricane-ravaged Puerto Rico immediately at the request of Governor Ricardo Rossello, White House press secretary Sarah...

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Opinion: The 2017 Capacity Crisis: Past Lessons, Current Advice

Trucks are harder to find and more expensive than ever.In late September, FTR and Truckstop.com reported load availability was up 110% over 2016. By mid-October, DAT reported the van load-to-truck...

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Shipping Billionaires are in a High Seas ‘Arms Race’

A shopping spree by two billionaires is shaking up a shipping industry still recovering from years of falling rates and overcapacity.Jacques Saade’s CMA CGM SA, the world’s third-largest container...

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Soaring Global Freight Costs Expected to Squeeze Traders, Boost Food Prices

It’s getting more expensive to transport commodities around the world, threatening to squeeze profits for global traders and raise food prices.The Baltic Dry Index, a benchmark of shipping rates,...

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Shipping Costs are Surging Globally

The cost of moving pretty much every dry-bulk commodity — from fertilizer to salt to rocks — has surged since July, lifting the London-based Baltic Exchange’s main freight gauge to its highest in...

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UPS Says Deliveries Are Back to Normal After Shopping Surge

United Parcel Service Inc. says it’s gotten deliveries under control after a surge of online shopping caused some delays following Thanksgiving.Transit times are back to normal, the world’s largest...

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Greek Shipper Bets $1 Billion on Fuel Rule Upending World Trade

A Greek shipowner is predicting new rules for marine fuel will put thousands of the world’s merchant vessels out of business in the next two years, roiling global trade. In fact, he’s wagering $1.1...

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