Cosco Clears US Hurdle on Orient Overseas With Wharf Sale
Cosco Shipping Holdings Co. pledged to sell a container terminal in California, helping allay concerns of U.S. regulators and clearing the way for its $6.3 billion acquisition of Orient Overseas International Ltd. announced last year.
July 9, 2018World’s Biggest Shipping Market Booms as Trade War Shrugged Off
Whether it’s the price of hiring giant freighters to haul hundreds of millions of tons a year of iron ore and coal, or smaller carriers moving grains, there’s a theme emerging: dry- bulk shipping rates are rallying despite an escalating trade war that may yet damage China’s economy.
Cosco Shipping to Sell $947 Million of Orient Overseas Shares
Cosco Shipping Holding Co. plans to sell as much as HK$7.43 billion ($947 million) of shares in Orient Overseas International as part of efforts by China’s biggest container-shipping line to maintain the listing status of the rival it is acquiring.
Stormy Sailing Expected When Cargo Ship Fuel Standard Changes
A surge in demand is coming for diesel and related fuels as shipping companies close in on a deadline to reduce sulfur emissions.
Blockchain on Verge of Revolutionizing Shipping Industry
Globalization has brought the most advanced trading networks the world has seen, with the biggest, fastest vessels, robot-operated ports and vast computer databases tracking cargoes. But it all still relies on millions and millions of paper documents.
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 billion on it.
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.
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 almost four years.
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.
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.