Supramax Shipping Index For Smaller Vessels Rose To Highest in Nearly Three Weeks

Higher demand across all vessel segments saw the Baltic Exchange’s dry bulk sea freight index extend it’s gains to 2,767 on Friday, its highest since November 12th. Among smaller vessels, the Supramax index added 32 points, or 1.4%, to its highest in nearly three weeks at 2,316. Despite recent volatility in vessel rates, dry bulk spot rates are expected to stabilize in November-December before a “seasonally soft” first quarter of 2022, shipbroker Jefferies said in a weekly note. The Baltic … Continue reading “Supramax Shipping Index For Smaller Vessels Rose To Highest in Nearly Three Weeks”

South Korea’s Hyundai Steel Launches First LNG Powered Ship in Eco-Friendly Plan

South Korea’s No. 2 steelmaker Hyundai Steel Co. in it’s carbon reduction plan is replacing its fleet of raw material carriers with eco-friendly ships. On Wednesday its first liquefied natural gas (LNG) powered ship, “HL Oceanic,” made its maiden voyage. HL Oceanic was built by Hyundai Samho Heavy Industries in Mokpo, South Jeolla Province. The LNG-powered ship is based exclusively on domestic technology, from ship design to construction, the localization level up to 97 percent of the ship price. The … Continue reading “South Korea’s Hyundai Steel Launches First LNG Powered Ship in Eco-Friendly Plan”

Baltic Exchange’s Dry Bulk Sea Freight Index Recovers Off Five Month Low As Chinese Steel Futures Prices Jump

The Baltic Exchange’s dry bulk sea freight index extended it’s gains to third straight winning session Monday. The BDI rose 3.6% to 2,645 its highest since November 15th. On June 17th the index was at 2,426. Despite recent volatility in vessel rates, dry bulk spot rates are expected to stabilize in November-December before a “seasonally soft” first quarter of 2022, shipbroker Jefferies said in a weekly note. The Baltic Dry Index (BDI) is a composite of the dry bulk timecharter … Continue reading “Baltic Exchange’s Dry Bulk Sea Freight Index Recovers Off Five Month Low As Chinese Steel Futures Prices Jump”

Baltic Exchange’s Dry Bulk Sea Freight Index Falls To Five Months Low

The Baltic Exchange’s dry bulk sea freight index extended it’s losing streak to five straight sessions Wednesday. The BDI fell 161 points or 6.2% to its lowest level in more than five months. On June 8th the index was at 2,430. Rates slipped across all vessel segments. The BDI is a composite of and factors in rates for Capesize, Panamax and Supramax Timecharter Averages. It is reported around the world as a proxy for dry bulk shipping stocks as well … Continue reading “Baltic Exchange’s Dry Bulk Sea Freight Index Falls To Five Months Low”

J.B. Hunt Transport Delivers Robust Earnings Despite Labor and Disruption Headwinds

J.B. Hunt Transportreorted better than expected Q3 earnings before the bell Friday.  $JBHT grew it’s revenues across all its segments despite labor challenges. With companies desperate to return to normal from the supply crunch freight demand has been accelerating.

Paccar Trucks to Deliver FedEx Packages Using Aurora’s Autonomous Technology

Aurora Innovation, a California-based self-driving technology company announced it is collaborating, with Paccar to launch a commercial pilot of autonomous trucks hauling goods for package delivery firm FedEx. The Paccar trucks will be equipped with Aurora’s autonomous technology to haul FedEx loads between Dallas and Houston on one of America’s busiest routes, the 500-mile round trip I-45 corridor. The pilot marks the next phase of a partnership among the three companies that was announced in January. The trucks will operate … Continue reading “Paccar Trucks to Deliver FedEx Packages Using Aurora’s Autonomous Technology”

Shipping Giant Maersk Notes Weaker Macro Numbers From Trade War Risks

Danish shipping giant A.P. Møller – Mærsk A/S released first quarter of 2019 with a 33% increase in EBITDA earnings to $1.2 billion but said still facing considerable uncertainties from weaker macro numbers and the risk from trade tensions and implementation of IMO 2020.