Maersk Explores Arctic Shipping Route with Russia

Shipping group A.P. Moller-Maersk said on Friday it is in talks with Russia's state-owned icebreaker operator to send more goods via the Arctic, which is becoming more accessible as climate change reduces the sea ice.Russia has made developing…

Boskalis to Salvage Gulf of Oman Tankers

Dutch marine engineer Boskalis said on Friday it had has been appointed to salvage both tankers that were hit in the Gulf of Oman in a suspected attack.Boskalis said the condition of the Front Altair tanker, carrying a cargo of naphtha, was still worrying…

Latest on Tanker Attacks South of the Strait of Hormuz

U.S. President Donald Trump blamed Iran on Friday for attacks on two oil tankers at the entrance to the Gulf despite Tehran's denials, stoking fears of a confrontation in the vital oil shipping route.Here are the latest developments:* U.S. President…

COFCO in Talks to Buy Stake in Russian Port Grain Terminal

Top Chinese grain trader COFCO is in talks about buying a shareholding in a grain export terminal in the Russian port of Novorossiysk as part of its expansion in Europe, sources said on Friday.COFCO is understood to be in talks about buying…

French, Italian Shipbuilders Forge Naval Alliance

France and Italy forged a military shipbuilding alliance on Friday, as state-controlled Naval Group and Fincantieri signed off on a 50-50 joint venture that will bid for Franco-Italian warship projects and sell to the world market.The alliance…

Big Cash Boost at Boston Port

A new report from the Massachusetts Port Authority (Massport) shows the Port of Boston contributed $8.2 billion in economic activity in 2018, up from $4.6 billion in 2012.Smart investments and partnerships have led to growth in jobs, business revenues…

Annual truckload and intermodal pricing gains remain intact, reports Cass and Broughton Capital

Truckload rates, which measure linehaul rates, headed up 1.2% annually to 135.3 (January 2005=100), extending a stretch of gains going back to November 2017. On the intermodal side, total May intermodal pricing was up 4.2% annually, to 147.0, and down 1.9% compared to April.

U.S. rail carload and intermodal volumes are down for week ending June 8, reports AAR

Rail carloads, at 246,758, fell 9.1% compared to the same week a year ago, and intermodal units, at 266,341, slipped 8%.

ReCAAP Reports Seven Piracy Incidents

ReCAAP ISC issued its monthly piracy report, informing of seven incidents of piracy and armed robbery against ships in Asia in May 2019. There was no report of abduction of crew in the Sulu-Celebes Seas and waters off Eastern Sabah; and no hijacking…

US Leads World Oil Reserves

The United States has a world-leading 293 billion barrels of recoverable oil resources, which is 20Bbbl more than Saudi Arabia and 100Bbbl more than Russia, with the Permian Basin leading that charge.Rystad Energy’s estimate of US recoverable…