Thordon Bearings adds SAI Engineering to its global distributor network Thordon Bearings, a leader in environmentally safe, water-lubricated and grease-free bearing and seal solutions, has welcomed Vancouver, B.C.- headquartered marine engineering and naval architecture firm SAI Engineering to its growing global network
RWE in $1.22B agreement to relinquish U.S. offshore wind leases RWE U.S. Offshore reports that it has reached a $1.2 billion settlement with the U.S. Department of the Interior to resolve claims against the U.S. government and relinquish its offshore wind leases
Eastern Shipbuilding cuts steel for first of three new WSF hybrid-electric ferries Eastern Shipbuilding Group Inc. (ESG) and Washington State Ferries (WSF) recently marked the start of construction on three new 160-vehicle hybrid-electric ferries at a steel cutting ceremony in Florida. David Sowers, program
Nichols Brothers wins contract to build new San Francisco Bar Pilots station boat The San Francisco Bar Pilots Benevolent and Protective Association has awarded Freeland, Wash.-based Nichols Brothers Boat Builders (NBBB) a contract to construct the organization's next-generation station vessel boat Designed by Glosten and
DP World to build logistics hub adjacent to Antwerp Gateway Terminal DP World has announced the development of a new temperature-controlled logistics hub in the Port of Antwerp, with an initial investment of EUR 48 million and total long-term investment anticipated to reach approximately EUR 100 million across subsequent phases. The facility will be developed in partnership with logistics real estate specialist Montea and Maatschappij Linkerscheldeoever on an 83,0
Tariff deadlines drive import surge in second quarter 2026 The second quarter of 2026 was defined by regulatory volatility, regional volume divergence and significant empty container repositioning dynamics across North American West Coast container ports. Facing a hard July 24,according to Sea Intelligence, 2026 deadline for new permanent trade tariffs following earlier judicial reversals, shippers front-loaded inbound cargo into NAWC ports, resulting in
Port of Nanaimo established as an economic driver for Canada An independent economic impact study conducted by Deetken Insight has confirmed that the Port of Nanaimo generated CA$ 2.4 billion in economic output in 2025, establishing the port as a significant economic driver for Canada, British Columbia and Vancouver Island. The assessment used recognised Statistics Canada data and economic modelling to evaluate the impacts of the port and its broader port
Hanwha establishes new company Hanwha Machinery and Service Holdings officially launched on August 3, 2026, establishing a new holding company dedicated to strengthening Hanwha Group's tech and life solutions businesses through greater specialisation and portfolio synergy. Hanwha M&S serves as the holding company for two core business portfolios. Its Technology Solutions division encompasses Hanwha Vision, Hanwha Semitech, Han
DHL Group reports revenue growth in second quarter 2026 DHL Group delivered strong financial performance in the second quarter of 2026, with Group revenue increasing 13% year-on-year to EUR 22.4 billion, compared to a prior-year quarter affected by tariffs and trade policy disruption. Operating profit rose 30% to EUR 1.9 billion, with the EBIT margin improving 1.1 percentage points to 8.3%. Group net profit after non-controlling interests reached EUR
Klaipeda Container Terminal implements Portchain quay Klaipeda Container Terminal has announced the implementation of Portchain Quay, continuing its digitalisation journey following the successful deployment of Portchain Connect earlier in 2026. The new platform will replace fragmented manual planning processes with a centralised solution for berth, crane and gang planning, supported by real-time vessel tracking and planning scenario capabilities. P
Great Abidjan sets operational record at Port of Tema Great Abidjan completed a record-breaking call at the Port of Tema on 2 August. According to Grimaldi Group, the call set a new operational benchmark for its Deep Sea East Asia-South Africa-West Africa service. Cargo discharged at Tema During the call, Great Abidjan discharged: 3,100 lane metres of rolling freight 1,100 light vehicles 350 TEUs 120 lane metres of project cargo on Mafi trailers The
How two chokepoints became one system As shipping operations in Red Sea and Hormuz facing prolonged disruptions, Container News is trying to decipher the potential convergence of both into one system
Global Ship Lease reports second-quarter 2026 results Global Ship Lease (GSL) has announced its unaudited financial results for the second quarter and first half of 2026. The containership owner reported operating revenue of US$198.7 million for the second quarter. Revenue for the first six months reached US$396.8 million. Second-quarter financial performance Net income available to common shareholders totalled US$89.3 million, or US$2.48 per share,
PIL partners with Celonis and WNS to expand Process Intelligence Centre of Excellence Pacific International Lines (PIL) has partnered with Celonis and WNS to expand its global Process Intelligence Centre of Excellence (CoE). The partnership will support PIL's digital transformation across 90 countries. It will also help the carrier improve visibility across its global operations. Headquartered in Singapore, PIL operates a fleet of more than 100 container vessels. Creating a digita
Maersk revises PSS from South Asia to Saudi Arabia and Jordan Maersk will revise its Peak Season Surcharge (PSS) for dry container shipments from South Asia to Saudi Arabia and Jordan. The revised surcharge will take effect on 15 August 2026 and remain valid until further notice. Origin and destination scope The PSS will cover shipments originating from: Bangladesh India Sri Lanka Maldives Nepal The destination scope includes Saudi Arabia and Jordan. Maersk
Hapag-Lloyd outlines mandatory Kenya ACD requirements Hapag-Lloyd has informed customers about Kenya's new Advance Cargo Declaration (ACD) requirements for containerised imports. The Kenya Revenue Authority (KRA) introduced the new ACD platform on 3 August 2026. The requirement applies to all containerised cargo destined for Kenyan ports. Shippers, exporters or freight forwarders must obtain an ACD Reference Code before loading. They must also inclu
Explainer: Jebel Ali enters a new phase Containers are crossing the Gulf again. But Dubai's great port is now fed from the land, and Iran's dependence on its rivals has deepened rather than eased
ONE launches Mozambique Coastal Link service Ocean Network Express (ONE) has announced the launch of its new Mozambique Coastal Link Service (MCL). The service will connect Far East Asia with Mozambique via Port Louis. Moreover, ONE expects it to provide reliable transit times and additional capacity. MCL service rotation The Mozambique Coastal Link Service will operate on a bi-weekly basis. It will follow this rotation: Port Louis - Maputo
Explainer: The country that can't reroute A war at sea is being paid for on land by a country with no ships, no ports, and no way to pass the bill along
BIMCO: Dirty tanker loadings drop 62% from Russian Black Sea and Sea of Azov ports Dirty tanker loadings from Russian ports in the Black Sea and Sea of Azov fell sharply during the second half of July. BIMCO reported a 62% decline during the final two weeks of the month. The organisation compared the figures with the average from the previous four weeks. "During the last two weeks of July, dirty tanker loadings from Russian Black Sea and Sea of Azov ports fell 62% compared to t
Peninsula and Evos plan biofuel storage infrastructure in Algeciras Peninsula and Evos have signed a Memorandum of Understanding (MoU) to develop dedicated biofuel storage infrastructure at the Port of Algeciras. The companies plan to develop the infrastructure at Evos' terminal. The proposed expansion could provide up to 60,000 cubic metres of storage capacity. Peninsula would use the entire capacity to support the growth of its regional biofuel supply chain. Su
How Iran's pressure campaign is repricing the sea lanes Tehran is betting that raising the cost of protecting global commerce beats raising the cost of confronting Iran directly. For shipping, that bet is already being priced in
Damen agreed with Aegean Tugs for tug delivery Damen Shipyards Group has signed a contract with Greece-based Aegean Tugs Shipping Company for the delivery of an ASD Tug 2811, with delivery scheduled for the first quarter of next year at Kalymnos in the Dodecanese region, the home port of the Greek operator. The ASD Tug 2811 measures 28.57 metres in length with a beam of 11.43 metres and delivers 60 tonnes of bollard pull, combining compactnes
Descartes launches AI-powered free trade intelligence solution Descartes Systems Group has introduced its new AI-enabled Free Trade Intelligence solution, designed to help manufacturers, importers and exporters lower costs by making more informed sourcing and trade decisions. The solution addresses a critical gap for organisations whose enterprise resource planning systems lack comprehensive global trade management capabilities, enabling faster qualification
Dalian Shipbuilding presents second-generation LNG Carrier A steel cutting ceremony marking the official commencement of construction for another 175,000 m³ LNG carrier, designated G175K-11, was held on July 28, 2026 at Dalian Shipbuilding Industry. The vessel is being built for COSCO Shipping LNG Investment and surveyed by China Classification Society, with senior representatives from CSLNG, China International United Petroleum and Chemicals, Sinopec Ka
Excelerate picks up LNG carrier for first FSRU conversion US-listed Excelerate Energy has acquired the 2010-built LNG carrier Methane Patricia Camila, earmarking the ship for the company's first conversion into a floating storage and regasification unit. Excelerate disclosed the purchase in its second-quarter update without naming the seller or price. A Tokyo Stock Exchange filing from Japan's Meiji Shipping Group shows the ship changing ...
Tufton-backed Stainless Tankers heads for full fleet exit Oslo-listed Stainless Tankers has laid out plans to sell its remaining six chemical tankers within the next 18 months, moving the Tufton-backed vehicle towards a full fleet exit. The company said the vessels would be sold in an orderly manner before their next major capital expenditure requirements and within the five-year investment horizon set when ...
EnerMech bags maintenance deal in the North Sea UK-headquartered oilfield services specialist EnerMech has secured a multi-year contract to deliver topside process and shutdown services across an offshore asset portfolio of an undisclosed North Sea operator. The award is the second major contract secured by EnerMech in recent months for comparable topside process services in the North Sea. The previous deal was awarded ...
Shell greenlights next phase of Malaysian deepwater field Supermajor Shell, through its Malaysian subsidiary, Sabah Shell Petroleum Company, has taken a final investment decision on the third phase of the Malikai deepwater development. The project involves drilling four oil-producing wells to enhance Malikai's expected recoverable oil volumes, with the aim of sustaining material liquids production of around 1.4m barrels per day towards 2030 ...
Bruton lands six-figure rate for second new VLCC Tor Olav Trøim-backed Bruton has fixed its second VLCC newbuilding at a net rate of $105,700 per day. The Oslo-listed tanker owner has placed the 300,000 dwt Mount Horizon on a fixed-rate charter lasting between 12 and 15 months with an unnamed counterparty. The ship is scheduled to deliver from China's New Times Shipbuilding in ...
Hagland brings in Gerdes newbuild on charter Norwegian shortsea operator Hagland Shipping has taken a battery-hybrid mini-bulker on a multiyear charter from Germany's Reederei Gerdes and commercial platform over-C. The 2026-built Forty-Two G is a 3,800 dwt Damen Combi Freighter 3850 constructed at Ba Son Shipyard in Vietnam. Financial terms and the precise charter period were not disclosed. The vessel combines battery-hybrid ...
Sweden clears Caffa transfer to Ukraine in landmark ruling Sweden's Supreme Court has cleared the way for the cargo vessel Caffa to be transferred to Ukraine, establishing a potentially significant precedent for ships accused of trading stolen commodities from Russian-occupied territory. The court refused the owner permission to appeal, leaving earlier decisions by the Ystad District Court and the Court of Appeal in force. ...
Transocean secures new Gulf of Mexico and Africa rig work Offshore drilling giant Transocean has secured two extensions and one new contract for three of its rigs. According to information provided in the company's fleet status report, an unnamed operator awarded a two-well contract extension to the 2016-built drillship Deepwater Conqueror in the US Gulf of Mexico. The rig has been working for the operator ...
OceanPal exits shipping to go all-in on AI Nasdaq-listed OceanPal has completed its exit from shipping, selling the holding company behind its remaining fleet as the former Diana Shipping spin-off shifts entirely into artificial intelligence and digital assets. The company transferred all its interests in OP Vessel Holdco to Sezali Inc on July 31. Rather than receiving cash, OceanPal secured the cancellation of ...
Nigeria targets up to $50bn for upstream expansion Nigeria is targeting $30bn to $50bn in new upstream investment over the next five years, with 22 major offshore projects expected to move forward between 2026 and 2030. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) chief executive Oritsemeyiwa Eyesan said the projects would help lift crude output, create jobs, and strengthen energy security. She added ...
Centrofin tied to six-ship Titan Wind tanker order Greek owner Centrofin has been linked to an order for six LR2 tankers at China's Titan Wind Energy, handing the merchant shipbuilding newcomer a contract worth as much as $480m. Shenzhen-listed Titan Wind said an offshore engineering subsidiary had signed for six firm 114,000 dwt product and crude tankers with a unit of an unnamed ...
Iran and Oman close in on new Hormuz traffic regime Iran and Oman are expected to unveil a new traffic arrangement for the Strait of Hormuz imminently, potentially redrawing established shipping lanes and giving Tehran a formal role in overseeing vessels entering the Persian Gulf. Iran's foreign ministry said the two countries had agreed the geographical coordinates of a proposed route and were completing a ...
Valaris lands new contracts as backlog reaches $4.6bn Offshore driller Valaris has secured a batch of new contracts and extensions for its rig fleet, lifting its backlog to $4.6bn. Its 2015-built Valaris DS-18 drillship won a letter of award from an unnamed client for a two-well exploration program. The program is expected to commence in the fourth quarter of 2026 and last up ...
Shipowners shouldn't assume today's strong recycling market will last Limited demolition supply and intense buyer competition have created one of the strongest ship recycling markets in years. Hitesh Vyas from Wirana Shipping reports. Shipowners are currently benefiting from one of the strongest recycling markets seen in recent years. Demand from cash buyers and recycling yards remains high, yet the supply of end-of-life vessels is ...
Panama tightens canal draft limits again The Panama Canal is imposing two further draft reductions at its neopanamax locks as falling water levels and a strengthening El Niño revive memories of the disruption seen in 2023 and 2024. From August 26, the maximum authorised draft will fall to 48 feet (14.63 m), before being reduced again to 47.5 feet (14.48 m) ...
Sean Dalton lined up to become IUMI president Former seafarer Sean Dalton has been nominated as the next president of the International Union of Marine Insurance, putting the Munich Re executive in line to lead the 152-year-old association. Dalton is the sole nominee and is expected to be elected by the IUMI Council on September 23 during the organisation's annual conference in Rotterdam. ...
Shipping's AI forecasters run into the limits of history Machine learning is improving freight-rate forecasting, but shipping's volatility remains beyond the reach of any model. A review of 28 studies published between 2012 and 2024 found growing use of vessel supply, commodity demand, bunker prices and economic indicators to predict markets. Yet it also concluded that geopolitical shocks, regulation and sudden supply disruptions cannot ...
Japan proposes taking net zero out of IMO Net-Zero Framework Japan has added a late IMO plan into the mix, stripping the NZF of its mandatory carbon price and Net-Zero...
Genco hopes to ride capesize wave as Diana takeover bid drags on A healthy capesize market amid strong iron ore trade is driving a successful year so far for Genco, as it...
Drone attacks off Odesa leave German capesize bulker adrift and another ship lost Russia's Ministry of Defence claimed the vessels were carrying 'military cargo'
SeaLead winds up operations after US sanctions over Iran links SeaLead has entered liquidation a year after US sanctions over Iran links stripped the Singapore carrier of most of its...
Panama Canal Authority lowers neopanamax draught limit again Vessels will have to have a draught less than 14.5 m by early September in order to pass through the...
Standard & Poor's upgrades Japan Club outlook Ratings agency notes increasing capital strength at marine mutual
Hiscox reserves $60m for Middle East Gulf conflict Reserve includes around $40m for London market specialty exposure, with the rest for reinsurance losses
Hormuz deal nears, but shipping warned risk will remain 'extreme' Iran and Oman are edging towards an agreement on future shipping routes through the Strait of Hormuz, but a fresh...
China Merchants orders five aframaxes amid tanker supercycle The 2029-2030 deliveries will renew the Chinese owner's fleet as geopolitical disruption drives up tanker demand and earnings
Daily Briefing Stuck in the Middle East Gulf: seafarers reveal the human cost of a shipping war | VLCC marine insurance costs...
Panama Canal draft limits could cut into US East, Gulf coast capacity Late-summer draft limits on the Panama Canal will mean the largest vessels calling the East and Gulf coasts won't be able to fully load for peak shipping season.
Carrier SeaLead ends operations weeks after US sanctions hit The voluntary liquidation by the Singapore-registered liner means its main container line services between Asia and the Middle East, the Mediterranean and the Baltic have ceased.
Tailwinds provide 'favorable' H2 outlook for intermodal: analyst Higher diesel prices and rising truck rates seem poised to continue in the near term, giving the North American intermodal market an opportunity to maintain its steady performance in the back half of the year, writes Larry Gross.
Data center demand offers forwarders value-added services beyond air freight While the AI equipment boom competes with e-commerce for air freight capacity out of Asia, the fast-growing tech shipments offer better yields and more opportunities for logistics providers.
Can Brunei become industry's next ship-to-ship transfer hub? Industry leaders see opportunity-but say confidence must come before cargo
Dark Iranian tankers converge off Malaysia for oil transfers 'at scale' Eight crude carriers observed in ship-to-ship transfer zones offshore
Sellers 'should be suspicious': UK sanctions vessels sold into shadow fleet Six vessels and ship manager targeted in first round of measures under new UK prime minister
Port authority seeks to extract itself from lawsuit over deadline Grimaldi car carrier fire Italian car carrier operator and families of dead firefighters push back against request for judgment
Cheniere highlights complexity of restarting Middle East LNG supply chains Company is approaching production and export of its 5,000th cargo
Panama Canal faces fresh draft cuts as it grapples with El Nino impact Waterway's authority learning the lessons from 2023 drought crisis
Mind the gap: Genco Shipping tells why divide may be widening in takeover battle Genco is paying big dividends even as Diana Shipping subtracts them from any cash bid price
Excelerate Energy explains its choice of LNG carrier for FSRU conversion Regas specialist talking with Seatrium on job as CEO says company can deploy as many units as it can get its hands on
Exmar buys Maran Gas steamship and charters it out as new LNG bunkering unit Belgian owner takes third Angelicoussis steamship for use as a new breed of vessel: the floating transshipment unit
Swedish court clears handover of Russian shadow fleet ship to Ukraine Supreme Court dismisses an appeal from the owner of the Caffa
Exmar buys Maran Gas steamship to modify for LNG bunkering operations Belgian owner takes third steamship Angelicoussis' gas arm for use as a new breed of vessel: the floating transshipment unit
How Scorpio Tankers hitched a five-year convertible ride on the cheap This week's Streetwise takes a look at convertible bonds and how they have driven down Scorpio's financing costs
Exmar charters Maran Gas steamship to modify for LNG bunkering operations Belgian owner takes third steamship Angelicoussis' gas arm for use as a new breed of vessel: the floating transshipment unit
Sinokor snatches $510,000 per day VLCC spot fixture for Strait of Hormuz transit Owners earning blockbuster rates for passing through Strait of Hormuz and Bab el-Mandeb
Global Ship Lease boss defends 'transformative' newbuilding bet It's the 'right time' to seize a rare market opportunity, says CEO Thomas Lister
Pacific Basin Shipping quadruples profit as freight markets strengthen Daily operating margins for its operated fleet of bulkers remain at four-figure levels
'A licence to print money': How much longer can container shipping get away with it? Events have rescued the sector for a decade but its luck may be running out
Cypriot net-zero champion Lemissoler receives pioneering ultramax pair Philippos Philis-led company takes first step towards net-zero target with ships chartered by Cargill
Zodiac Maritime joins big-name owners selling VLCCs to Adnoc L&S at historic prices Deal shows significant profit on a tanker at a time when values are soaring
Excelerate Energy FSRU restarts after boiler breakdown New cargo arrives to alleviate gas shortage
Turkish newcomer triples newbuilding fleet with 10 bulk carriers in China The Turkish shipping newcomer now has a total of 12 ultramax bulk carriers on order in China
Tankers shy away from lifting Kazakh oil after Black Sea ship attacks Caspian Pipeline Consortium suspends operations again due to safety concerns
North Star banks $370m after Fredriksen and Ofer fleet deal Banks including KfW and Rabobank provide cash for continued growth
Gulf war heralds reckoning for private equity players in marine insurance Niche providers look to bank profits after boom in specialist players in 2020s
Paliou buys back vessels as Diana spin-off quits shipping to go all-in on crypto OceanPal offloads bulkers and a tanker following pivot to AI tokens
Stainless Tankers puts chemical carrier fleet up for sale Bosses at Tufton-backed owner plan orderly disposal
Black Sea death toll rises as Russian strike kills Ukrainian seafarer Latest incident comes as Ukraine's defence forces boast hitting 236 Russian boats and ships in July
Hagland Shipping expands fleet with hybrid bulker newbuilding Norwegian owner chartering new coastal vessel from German partner
Asyad Shipping signs three-year fixes for big chemical tanker newbuildings Order in China had not previously been reported
Iran and Oman agree transport plan for Strait of Hormuz US held off attacks at the weekend amid hopes for a deal that could restart shipping through key chokepoint
Genco Shipping pays highest ever dividend with 'compelling returns' ahead Company beat analyst bets and guides to stronger payout in current quarter on firming rates
Top Ships buys three tanker newbuildings from boss Pistiolis as backlog nears $1bn Greek owner acquiring MRs ordered by major shareholder earlier this year
Tor Olav Troim's Bruton snares big time-charter rate for second new VLCC Norwegian operation fixes Mount Horizon for $105,700 per day
Middle East conflict propels Glencore profit as freight capacity tightens Commodities giant reveals it is seeking a secondary listing in Australia
Middle East conflict propels Glencore's profits as energy costs rise and freight capacity tightens Commodities giant reveals it is also seeking a secondary listing in Australia
Gulf and Red Sea crossings plummet after latest tanker attack Kpler data shows big drop in traffic on Wednesday
China quietly strengthens its Arctic shipping toolkit New services point to a broader effort to support commercial polar navigation
Greece's Centrofin behind tanker order at shipbuilding newcomer Dimitris Procopiou's contract is only the second commercial shipbuilding deal the Chinese manufacturer has inked
Truck driver admits $510K fuel card fraud without buying fuel A West Virginia truck driver admitted stealing more than $510,000 from his employer through a fuel card scheme that never required pumping a gallon of diesel. Federal prosecutors say Jeffrey Jeffers created fictitious service stations through online payment platforms, then processed fraudulent charges against company-issued fuel cards. The payments flowed into accounts connected to those fake bus
PACCAR recalls 5,919 trucks over electrical defect PACCAR is recalling 5,919 model year 2027 Kenworth and Peterbilt trucks because of the power distribution center. It is the box that routes electrical power through the cab, and may have oil in it. The company reported the problem to the National Highway Traffic Safety Administration on July 27. NHTSA lists it as recall 26V485. PACCAR calls it 26PACD. If the box fails, a driver can lose engine po
Uber Freight still unprofitable after big revenue jump Uber Freight had a significant jump in revenue not only on a year-on-year basis but sequentially as well. However, it only moderately improved its bottom line performance, which remains solidly as a negative number. Uber Freight's revenue for the second quarter was $1.583 billion. That is up 25% from a year ago and 18.3% sequentially. Uber (NYSE: UBER), in its earnings and on its conference call
Cyberattack on Ceva Logistics warehouses in Europe impacts retailers Operations at eight Ceva Logistics warehouses in Europe were disrupted over the weekend by a cyberattack, causing shipping delays for many of the freight giant's retail customers with inventory stored in those locations, according to a source close to the situation. Affected customers were notified Aug. 1 that a cyber intrusion was impacting part of Ceva's contract logistics operation, the person
RXO, post-Montgomery, sees benefit in its insurance, vetting After discussing a second quarter financial performance that was mixed but predicting better times ahead, management of 3PL giant RXO spent a significant amount of time on its earnings call with analysts touting what it sees as a strength: its insurance coverage and how it vets carriers before letting them into its network. With the brokerage industry dealing with the one-two punch of Montgomery
RCMP warn after 12 trucking businesses ship orders on fraudulent credit cards Saskatchewan RCMP are investigating a fraud scheme that targeted 12 heavy-duty trucking and transportation businesses. Investigators say callers placed phone orders for truck tires, engine oil and trailer parts. The callers provided credit card details, and each transaction appeared approved and pending. Businesses then shipped the products by courier before the payment ultimately failed. The fra
Strong peak demand pumps trans-Pac box rates After what was seen as a tariffs-chasing early peak season, the trans-Pacific market is showing early signs of stronger demand. Asia-U.S West Coast prices decreased 1% to $6,129 per forty foot equivalent unit in the latest week's Baltic Index from Freightos (NASDAQ: CRGO ), a contributor to SONAR data. Asia-U.S. East Coast prices stayed level at $9,012 per FEU. The early late May-early July peak
Truck manufacturer exits Ohio location, eliminates 1,341 jobs International Motors is laying off 1,341 employees at two manufacturing facilities in Springfield, Ohio, following the sale of the operations to Canadian defense and commercial vehicle manufacturer Roshel. The Lisle, Illinois-based truck manufacturer said it has signed an asset purchase agreement under which Roshel will acquire the operating assets of the Springfield Assembly Plant and the Truck
Taiwan manufacturer settles case over falsified customs entries for $5.2M A Taiwan-based manufacturer of light-emitting diodes and its Texas-based subsidiary have agreed to pay the U.S. government $5.15 million to resolve allegations the companies knowingly failed to pay duties on LEDs imported from China, the Department of Justice said Wednesday. The settlement with publicly-traded Everlight Electronics and its Everlight Americas comes three weeks after the announceme
Reopening: Strait of Hormuz awaits Iran-Oman agreement A standoff between Iran and the United States is keeping the Strait of Hormuz all but closed to normal vessel traffic while Tehran and Oman finalize a proposed 60-day reopening framework. Transit through the entryway to the Persian Gulf remains sharply depressed. Consultant Kpler recorded only eight vessels crossing on August 5 - five tankers and three bulk carriers - down from more than 100 vess
392 stolen vehicles worth $28M stopped before overseas export, RCMP says The Royal Canadian Mounted Police recovered 392 stolen vehicles worth an estimated $28 million through a yearlong anti-fraud pilot. Authorities stopped the vehicles before overseas export from Canadian ports. The recoveries occurred in Halifax, Montreal, Toronto and Vancouver. The RCMP announced the results Tuesday. Project NoCargo began in June 2025 after investigators identified a growing expor
Fleet liability playbook shifts from defense to proof Carriers have competed on two variables for decades: price and service. A wave of nuclear verdicts is adding a third. Unfortunately for fleets, it's the only one that gets argued in front of a jury. That third variable is proof. Verdict exposure is rewriting fleet liability from a question of insurance limits into a question of evidence. Now, legal discovery is where fleets find out whether they
First look: mixed performance at RXO with some strong points With most financial measures at RXO not improving or outright declining between the second quarters of 2025 and 2026, respectively, the company's earnings announcement focused on several other measurements, mostly volume-related, where a strengthening freight market has been a tailwind for the 3PL. While comparisons to the second quarter of 2026 were not overly positive for the company, some of t
Cash Conversion Cycle Warning: Middle-Market Squeeze Revealed Summary View Transcript RapidRatings Executive Chairman James Gellert reveals the silent strain on middle-market companies. Discover how extended cash conversion cycles, driven by slower payments from larger customers and rising costs, are impacting financial health across supply chains. Gellert also explains RapidRatings' algorithmic approach to financial analytics for both public and private co
Trucking Capacity Declines: LMI Shows Shifting Trends Summary View Transcript The July Logistics Manager Index (LMI) reveals key shifts in the freight market. While overall logistics costs decreased slightly month-over-month, transportation capacity is contracting at a faster rate, indicating a tightening market. FreightWaves experts break down how these numbers, alongside increased regulatory enforcement, will impact shippers and carriers heading i
This AI Platform Processes 2000 Invoice Lines in Under a Minute Summary View Transcript Keeping up with U.S. tariff changes and manual data entry has become a full-time job for freight forwarders and customs brokers, but it doesn't have to be. Jay Edlin, Co-Founder & CEO of Wove, explains how their AI-powered orchestration platform is automating complex tasks, from ingesting 431-page federal notices in an hour to processing 2000-line commercial invoices in ju
Intermodal Boom? What CEOs See Now Summary View Transcript Intermodal demand is surging, but drayage capacity is tight. Geoff Anderman, CEO of STG Logistics, dives into what's driving this growth and how recent restructuring and new ownership are positioning STG to capitalize on market opportunities. He also shares insights on port activity, tariff volatility, and the competitive landscape for intermodal services. An intermodal ma
Rail Traffic UP: Is the Industrial Economy Robust? [AAR Data] Summary View Transcript North American rail traffic is showing surprising strength, especially when you exclude coal carloads. Bill Stephens from Trains Magazine breaks down the latest AAR data, revealing a robust industrial economy with significant gains in metallic ores and scrap iron, despite overall flat carload growth. We also discuss the ongoing CPKC merger debate and what it means for US a
Forward Air takes step in right direction in Q2 Forward Air reported Wednesday its best quarterly performance since a "messy merger" with freight forwarder Omni Logistics in January 2024. Operating results improved in all of its segments during the second quarter, with Expedited Freight leading the way. Consolidated revenue of $673 million was up 9% year over year. Consolidated adjusted EBITDA of $93 million was 18% higher y/y. Forward's ( NAS
Federal crackdown leads to arrest of 86 truck drivers, 766 out-of-service orders Federal authorities say a three-day commercial vehicle enforcement operation across four Midwestern states resulted in approximately 766 out-of-service orders and the arrest of 86 truck drivers. The second wave of Operation Highway Shield was conducted July 28-30 by the U.S. Department of Homeland Security (DHS) and the U.S. Department of Transportation (DOT). According to DHS and DOT, inspectors
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