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shipping
Commodities US Crude Bound for Israel for First Time Since 2023, Times of India Reports
A Times of India report headlined 'US crude bound for Israel for first time since 2023' was published on 1 August 2026. The source text supplied no additional details about the cargo, pricing, or routing.
Logistics Viking Supply Ships installs Kistefos duo as CEO and group CEO
Viking Supply Ships will install Ulrik Mannhart as chief executive and Bengt Rem as group CEO on August 1, following the resignation of Trond Myklebust. Both new leaders come from controlling shareholder Kistefos, which holds 80.1% of shares and 85.3% of voting rights, according to Splash247.
Logistics East Asia faces $890bn maritime investment bill to 2040, World Bank warns
The World Bank estimates East Asia and the Pacific needs about $890bn through 2040 to modernize ports, replace aging fleets and build alternative-fuel supply chains. Ports need $12bn annually, container capacity may nearly double, and China accounts for 65% of port spending. The report warns that regulatory uncertainty has led to sectoral paralysis.
Logistics Wagenborg exits roro sector with Wallenius SOL sale of ice-class duo
Royal Wagenborg is leaving the pure roro sector, selling ice-class sister vessels Bothniaborg and Balticborg to Wallenius SOL. The deal transfers a long-term contract of affreightment with Smurfit Westrock covering kraftliner cargo from Piteå, Sweden. Wallenius SOL will continue the service before integrating it into its wider northern European network.
Logistics Seanergy lifts fleet renewal to $591m with two Japanese-built capesizes
Greek bulker owner Seanergy Maritime has expanded its fleet renewal programme to eight ships worth a combined $591m, including two Japanese-built capesizes. Long-term charters on three China-built newbuildings set floor rates at about $23,100 per day, above which earnings link to the Baltic Capesize Index. The company also posted record Q2 net income of $26.2m and its spin-off United Maritime sold a panamax while adding capesize tonnage.
Logistics Norwegian offshore vessel owner DOF wins AHTS contracts and Petrobras PLSV extensions
Norwegian offshore vessel owner DOF has won two new AHTS vessel contracts and two long-term Petrobras extensions in Brazil, according to Splash247 Maritime. The AHTS contracts, each worth $15m-$25m, start in Q4 2027, while PLSVs Skandi Buzios and Skandi Recife are extended through January 2028.
Logistics Iran Remains Chief Suspect as Damietta Drone Strike Disrupts LNG Operations
A drone strike at Egypt's Damietta port hit the US-owned FSRU Energos Winter and adjacent LNG carrier GasLog Salem, disrupting LNG import operations. Iran remains the principal suspect, though no group has claimed responsibility and the investigation continues.
Logistics China's Panama-Flag Detention Campaign Starts to Ease, Data Shows
China’s detention of Panama-flagged ships dropped sharply in July to 16 from 140 in May, following Beijing–Panama City negotiations. Nearly 500 Panama-flagged vessels were detained since January, with the dispute rooted in the removal of CK Hutchison's Panama Ports Company from canal terminals.
Trade Singaporean Charged Over Sanctioned North Korean Bulker Petrel 8 Flag Registration
David Chong Kwok Yong, 49, has been charged in Singapore with abetting Niue Ship Registry in registering the UN-designated bulk carrier Petrel 8 under a foreign flag. Singapore's Commercial Affairs Department alleges the registration occurred between May 18 and August 18, 2022, despite grounds to believe the vessel was linked to prohibited North Korean cargoes.
Logistics NYK invests in MidOcean Energy to expand LNG footprint via Mitsubishi joint venture
Nippon Yusen Kaisha (NYK) will invest in UK-based LNG company MidOcean Energy through Mitsubishi-created Diamond Gas MidOcean Limited, expected to become a jointly owned company. The deal includes a strategic partnership in LNG marine transportation, completing between August and September 2026.
Logistics Minimum safe manning must not become shipping's commercial target
Steve Cameron, chair of the Nautical Institute's London branch, warns that minimum safe manning requirements are increasingly treated as commercial targets rather than safety floors. He argues that growing workloads — from tighter port turnarounds to new cyber and security procedures — are piling pressure on unchanged crew numbers, with fatigue weakening the last line of defence at sea. Cameron calls for honest manning reviews against current operations, not approved figures.
Logistics Carriers Gain Leverage: Become a Shipper of Choice to Win Capacity, Says Covenant SVP
Carriers have entered their strongest negotiating position in years, giving them leverage to prioritize shippers offering predictable, steady freight volumes. Covenant Transport SVP Tyson Wimberly shared strategies at the Univar Carrier Kickoff, highlighting regulatory constraints, insurance cost inflation, and driver pay variability as key challenges. Shippers must become a 'shipper of choice' to win capacity.
Logistics LTL Surges as Truckload Rates Rise: Saia's Record Q2 and $1.6B Investment
Rising truckload prices and tightening capacity are driving shippers to LTL, leading Saia to record Q2 tonnage. The carrier has invested $1.6B in infrastructure and is targeting selective freight. Implications for logistics operators include tighter capacity and potential rate increases.
Logistics Freight Success Demands Strong Carrier Partnerships, RXO Strategy Reveals
Spot freight rates are running 40% to 70% above contracted lane pricing, making many contract awards paper rates, according to RXO VP Brian Riley. He recommends shifting from waterfall routing guides to multiple primary carrier awards and proactive rate increases to secure capacity.
Logistics Why 'Shipper of Choice' Is a Strategic Imperative in Chemical Logistics
Univar Solutions is doubling down on its 'shipper of choice' strategy to secure liquid bulk hazmat truck capacity. Vice President Rob McCray outlined the approach at the company's annual carrier kickoff, emphasizing long-term partnerships, disciplined route-guide strategies, and proactive fuel surcharge adjustments as market conditions shift toward carrier-favorable trends.
Logistics UPS Unveils Digital Tools to Attract Small Businesses Amid Strategic Shift from Low-Margin E-Commerce
UPS announced new digital tools to enhance the shipping experience for small businesses, including a centralized pickup dashboard and Smart Pickups that can save up to 50% over daily pickup costs. The move supports UPS's strategy to focus on higher-margin verticals as it reduces low-margin e-commerce deliveries, with SMB package volumes growing 4.3% year-over-year in Q2 and reaching 34.5% of U.S. domestic volume in Q1.
Logistics Transponders Off: Saudi Crude Tankers for India Exit Red Sea 'Dark' to Avoid Houthi Blockade
Two oil tankers carrying Saudi crude to Indian refiners—the Suezmax Amazon and Aframax Rodos—switched off their Automatic Identification System (AIS) transponders to safely exit the Red Sea via the Bab el-Mandeb Strait, after Houthi rebels announced a blockade on Saudi shipments. The vessels, managed by Dynacom Tankers, changed course southward on July 22 and are now heading to India, with Rodos due at Mangalore on August 1 and Amazon expected in Chennai in early August. This is the first known instance of 'dark' sailing for Saudi crude tankers to India since the blockade began.
Logistics Scorpio Tankers Takes Minority Stake in Eight VLCC Newbuilds and Orders Two LR2s
Scorpio Tankers has taken a minority stake in an eight-vessel VLCC newbuilding venture and signed a letter of intent for two LR2 product tankers at Jiangsu Hantong Ship Heavy Industry. The company also completed MR newbuilding agreements at Jiangsu Yangzi-Mitsui. The moves expand Scorpio's directly controlled newbuilding programme to 14 ships, with exposure to additional eight VLCCs through the joint venture. Net income surged to $387.5 million in the second quarter.
Logistics Vafias-backed Stealth Maritime Orders Two More MR Tankers from HD Hyundai, Extending $1.3bn South Korea Newbuilding Drive
Harry Vafias-backed Stealth Maritime has ordered two additional 50,000 dwt MR product tankers at HD Hyundai Heavy Industries for $53m each, extending a South Korean newbuilding drive valued at around $1.3bn. The company now has at least 15 tankers under construction at South Korean yards across MR, LR2, suezmax and VLCC segments, with deliveries stretching through 2030.
Logistics Blystad's Songa Box Orders Up to Six Feeders at Chinese Newcomer Shipyard
Arne Blystad's Songa Box has ordered two 1,300 teu feeder vessels at Hubei Guangji Green Energy Shipbuilding in China, with options that could bring the series to six ships worth $180m. The order expands Songa Box's pipeline to eight firm newbuildings and up to 12 with options, amid a broader feeder fleet renewal.
Logistics W Marine broadens newbuild drive with ultramax order at Jiangsu Dajin
Greek shipowner W Marine has placed an order for three 64,500 dwt ultramax bulk carriers at China's Jiangsu Dajin Heavy Industry, with deliveries scheduled for May, August, and November 2028. The deal, the company's first ultramax newbuildings, expands its newbuilding pipeline to five vessels, including two 1,800 TEU feeder containerships booked at Huanghai Shipbuilding. W Marine recently took delivery of two kamsarmaxes from Chengxi Shipyard, marking its return to the newbuilding market after nearly 20 years.
Logistics Jinhui Shipping Secures $70M in Leaseback Financing for Four Ultramax Newbuilds
Jinhui Shipping and Transportation has secured up to $70m in leaseback financing for four ultramax newbuildings across two deals, according to Splash247. The Oslo-listed owner is renewing its fleet with 63,500-64,500 dwt vessels and disposing of older supramax tonnage.
Logistics Seacor Marine Reviews Strategic Options as Investors Push for Sale of Company or Assets
Seacor Marine has announced a strategic review that may lead to a sale of the company or its assets, following pressure from shareholders including the largest holder Pointillist Family Office. The company has retained independent financial advisors, but no timetable or guarantee of a transaction exists.
Logistics Petra Marine Sells Two Accommodation Barges for Combined $15 Million in Separate Deals
Malaysia's Petra Marine has agreed to sell two Malaysian-flagged accommodation work barges in separate deals totaling $15 million. The Petra Endeavour was sold to India-based AJR Oil & Gas Engineering Services for $7.75m, and the Petra Orbit to UAE-registered Beaufond Swissline for $7.25m. Petra Marine said the sales will reduce future laid-up, reactivation, and drydocking costs.
Commodities China pulls ahead of Europe in green shipping fuels with faster project execution
China has three operational green shipping fuel plants producing 10 times the combined output of six European sites, according to Transport & Environment. Europe has 69 projects but 80% have not reached final investment decisions. Chinese shipowners are already securing large supply deals with Chinese producers like Goldwind and China Energy Engineering Corporation.
Logistics GTT Projects 550 New LNG Carriers Needed by 2035, Signaling Fleet Expansion
GTT expects around 550 LNG carriers to be ordered between 2026 and 2035, adding to the current record orderbook of 338 ships. The forecast is driven by 37m tonnes per annum of new liquefaction capacity reaching FID this year and a projected 5% annual LNG demand growth, primarily from Asia. Shipyard capacity is expanding to meet demand, with Korean and Chinese yards expected to exceed 100 annual slots by 2028.
Trade US Sanctions Iran’s Hormuz ‘Extortion Scheme’ and Eight Shadow Tankers
The US Treasury sanctioned Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority for running an IRGC-backed extortion scheme that forces commercial vessels to purchase maritime insurance before transiting the Strait of Hormuz. OFAC also designated eight tankers and their owning companies for transporting Iranian crude oil, bringing the total shadow fleet sanctions to over 100 ships since the start of the year.
Logistics Drone strike hits FSRU and LNG carrier at Egypt's Damietta terminal, extending maritime conflict into Mediterranean
A drone strike at Egypt's Damietta terminal hit the floating storage and regasification unit Energos Winter and the LNG carrier GasLog Salem, causing fires that were extinguished. The incident, which occurred far from previous conflict zones near the Strait of Hormuz and southern Red Sea, represents a significant escalation in maritime attacks and may force logistics operators to reassess risk in the Mediterranean.
Logistics Houthis Weigh Toll Scheme for Red Sea Shipping as Attacks Shift to Revenue Generation
Yemen's Houthis are considering a toll scheme for commercial vessels transiting the Bab el-Mandeb strait, potentially shifting from missile and drone attacks to a revenue-generating system controlling access to the southern Red Sea. The proposal, discussed during Houthi officials' July visit to Iran for the funeral of supreme leader Ali Khamenei, involves Iranian advisers developing a new authority to administer fees. Chinese-controlled vessels may be exempt, reflecting separate negotiations with Beijing.
Logistics COSCO Shipping Development Orders 15 Newcastlemax Bulk Carriers in $1.1 Billion Fleet Expansion
COSCO Shipping Development has approved orders for 15 newcastlemax bulk carriers totaling RMB7.92bn ($1.1bn). Ten vessels will be built by Shanghai Waigaoqiao Shipbuilding and five by Nantong Xiangyu Shipyard, all with provisions for future methanol or ammonia conversion. The ships will be leased for 20 years to Wai Fung Shipping, a COSCO Shipping Bulk subsidiary.
Logistics The Chemical Blind Spot in Ballast Water Treatment: Unmonitored Bromoform Risks to Ports and Shipping
Ballast water treatment systems that use oxidant-based methods, such as electrochlorination, generate disinfection by-products like bromoform which accumulate in port waters without monitoring. The IMO's approval process uses a hypothetical Model Harbour rather than real port conditions. Global ballast discharge volumes remain poorly measured, while studies show bromoform concentrations in treated water are ten times higher than in industrial effluents, with estimated annual release of 860 tonnes worldwide.
Logistics Housing Market Crash Slams Last-Mile Delivery: Growth Halved, Consolidation Looms
The big-and-bulky last-mile delivery segment is seeing growth halved to roughly 5% annually through 2027, driven by a stalled housing market with 6-7% mortgage rates. A joint report from Armstrong & Associates and the National Home Delivery Association highlights intensifying competition, the need for AI-driven execution, and looming consolidation. Labor availability is also tightening due to CDL enforcement.
Logistics Freight Rates Soar on Capacity Crunch, Not Demand: Q2 Earnings Confirm Tight Market Through 2027
Major carriers' Q2 earnings reports indicate the freight market is tightening due to capacity constraints rather than surging demand, with spot rates at $3.53 per mile and contract rates up 18% year-over-year. Regulatory pressures and high barriers to entry are keeping capacity tight, while Brent crude oil at $100 per barrel adds fuel cost pressure. FreightWaves analysts expect the cycle to persist through at least 2027.
Logistics UPS Falls Behind in Robust Trucking Market as PACCAR Rides Strong Demand
UPS's Q2 earnings missed expectations as the carrier declined to guide domestic volumes higher for H2, with Amazon's Flex expansion and ongoing restructuring weighing on sentiment. Meanwhile, PACCAR reported strong heavy-truck deliveries and raised its H2 outlook, indicating robust demand and favorable pricing. The tight driver market and upcoming EPA 2027 mandate are shaping capacity and equipment purchase decisions across the sector.
Logistics J.B. Hunt Warns Freight Rate Rally Still in Early Innings as Costs Outpace Contract Rates
J.B. Hunt's over-the-road segment posted a Q2 loss despite five consecutive quarters of double-digit growth, as spot rates surged roughly 40% year-over-year. According to FreightWaves, SVP Josh Fellin said the rally is supply-driven but the magnitude reflects four years of margin erosion, with operating costs per mile up 48-60% since 2019 while contract rates rose only 5-6%. The recovery is in 'early innings' and full contract-rate repair will require at least one more bid season, with driver pay set for another significant step up in 2025-2027.
Logistics AI Data Centers Create 'Capacity Tax' Driving Up Flatbed Freight Rates for Shippers
AI data center construction is absorbing flatbed capacity, driving up rates for traditional bulk shippers in a soft market. IntelliTrans' Blake Azell explains the 'capacity tax' and offers four steps for shippers to navigate the structural shift.
Logistics Baltic Exchange CEO Predicts Rise of Outcome Markets as Shipping Faces New Volatility
Baltic Exchange CEO Mark Jackson forecasts the emergence of outcome markets alongside freight forward agreements (FFAs) and options as shipping faces increased volatility from geopolitical shocks, weather disruptions, and shifting trade patterns. He will discuss these trends at the Splash Singapore conference in September 2026, where dry bulk market dynamics and technology will be key topics.
Logistics C.H. Robinson Hits Operating Margin Target, Continues Job Cuts in Q2 2026
C.H. Robinson achieved its mid-cycle operating margin target in Q2 2026, with adjusted operating margin rising to 34.7%. However, the company continued job cuts as part of its Lean AI strategy, while mixed performance across transportation modes revealed truckload weakness and LTL and air strength.
Logistics BNSF CEO assails UP-NS merger filing, says transcon will raise rates and prices
BNSF CEO Katie Farmer criticized the latest UP-NS merger filing, arguing it does not mitigate anticompetitive impacts and will raise rates for shippers and prices for consumers. The combined railroad would control 37% of North American rail traffic, with an additional 13% via a CN operating agreement.
Logistics Is This Trucking Market Different? Why Capacity Won't Flood Back In
Triumph Financial CEO Aaron Graft explains that increased litigation, regulation, and legislation are acting as barriers to entry in the trucking market, preventing the surge of new capacity seen in previous cycles. This structural shift suggests tight market conditions may persist longer than expected, impacting profitability and driver availability for freight operators.
Logistics Top Ships Redirects Dubai Refund into Three MR Tanker Newbuildings, Orderbook Reaches 10
Top Ships has redirected funds from a cancelled Dubai property deal into three MR tanker newbuildings, increasing its orderbook to ten vessels. The company will pay about $7.4m after deducting the $23.5m refund. The vessels have secured five-year charters with an unnamed oil major, with potential gross revenue of $140.6m.
Logistics Greek Owner JME Navigation Adds Another Ultramax to New Dayang Orderbook, Securing 2030 Delivery Slot
JME Navigation has ordered another 64,000 dwt ultramax from New Dayang Shipbuilding, scheduled for early 2030 delivery. The deal lifts JME's orderbook at the yard to three Crown 63 vessels, with the first due July 2027. No price has been disclosed, but a recent comparable order valued similar ships at about $38.5 million apiece.
Logistics South Africa's Prince Edward Graving Dock Sees Major Upgrade with Troy Docking, Boosting Ship Repair Options
Transnet National Ports Authority docked the crude oil tanker Troy at Durban's Prince Edward Graving Dock, demonstrating enhanced capacity after a R200m ($12m) upgrade. The vessel, one of the longest to use the facility, will undergo 10 days of repairs, supporting local employment and reinforcing Durban's position as a key ship repair destination in Africa, with increased traffic due to the Red Sea crisis.
Logistics Carrier diversification unravels the last-mile delivery duopoly as shippers seek alternatives
A new AlixPartners survey reveals that 55% of retailers now use carriers outside FedEx, UPS, and USPS, with alternative carriers growing 13% in volume. Amazon became the largest domestic parcel carrier in 2025, while FedEx and UPS are pivoting to B2B logistics. The trend is driven by rising consumer expectations (2.6 days max for free shipping) and escalating costs.
Logistics Sallaum Lines Expands Car Carrier Orderbook with Fresh China Deal, Boosting Ro-Ro Capacity
Swiss car carrier operator Sallaum Lines has ordered a new 8,600-ceu LNG dual-fuel car carrier from China Merchants Shipyard, with an option for a second vessel. The order lifts its newbuilding program to nine vessels with a combined investment of more than $850 million. The latest vessel is scheduled for delivery in 2029, joining a series of ships already delivered or due in the near term.
Logistics BGN Launches US Gulf Bunkering Arm, Expanding into Direct Physical Supply of Marine Fuels
BGN has launched its first US retail bunkering operation, supplying conventional marine fuels from Houston across the Gulf Coast. The new business will serve the company's own LPG fleet and third-party customers, supported by a partnership with Centerline Logistics and two chartered barges. The move expands BGN beyond wholesale fuel trading into direct physical supply, while the company continues to grow its LPG and LNG shipping footprint.
Logistics Dry Bulk Volatility Is No Longer the Risk but the Business Model, Says Sagitta Marine CEO
Dry bulk freight market volatility has shifted from cyclical predictability to disruption-driven uncertainty. Thomas Zaidman, CEO of Sagitta Marine, explains that commercial decisions now hinge on managing geopolitical and climate risks rather than eliminating them. The article examines how Red Sea diversions, Panama Canal restrictions, and algorithmic trading have transformed hedging and contracting strategies.
Logistics Zhenghe Mainline Orders Six 4,600 TEU Boxships at Hengli Shipbuilding for Baltic Service
Chinese state-owned carrier Zhenghe Mainline has ordered six 4,600 TEU containerships from Hengli Shipbuilding in a deal worth over RMB3 billion ($443 million). The vessels will serve a new route linking Taicang with the Baltic, giving parent Jiangsu Port Group greater control over capacity for eastern China exporters. The order brings Zhenghe's confirmed orderbook at the yard to 11 ships with combined capacity of about 47,700 TEU.
Logistics IACS chief Robert Ashdown appointed chair of trustees at seafarer charity Stella Maris UK
Robert Ashdown, secretary-general of the International Association of Classification Societies (IACS), has been appointed chair of trustees at seafarer charity Stella Maris UK. He succeeds Captain Esteban Pacha, who steps down after eight years and becomes the charity's first ambassador. Ashdown previously served nine years as a trustee of the charity, which provides practical, pastoral, and spiritual support to seafarers, fishers, and their families.
Logistics Indian Oil to Acquire 50% Stake in VLGCs as US LPG Imports Surge
Indian Oil Corporation plans to acquire a 50% stake in very large gas carriers (VLGCs) as it prepares to increase LPG imports from the United States. The move responds to a sharp rise in US LPG purchases—volumes in June were 145% higher than February—while Middle Eastern supplies decline. The tender targets vessels of 80,000-93,500 cubic metres, with bids due September 7.
Logistics Jinhui Secures $36M via Leaseback for Two Ultramax Newbuilds, Advancing Fleet Renewal
Jinhui Shipping and Transportation has arranged up to $36 million in sale-and-leaseback financing for two new ultramax bulk carriers building in China. The vessels, scheduled for delivery in early 2028, will be leased back for up to five years, supporting the company's fleet renewal programme and retention of operational control.
Logistics Zodiac Maritime Orders Eight 6,400 TEU Boxships at Hengli Heavy Industry, Extending $1.6B Drive
Eyal Ofer's Zodiac Maritime has been linked to an order for eight 6,400 TEU containerships at China's Hengli Heavy Industry, worth about $640 million. The vessels are scheduled for delivery in 2028 and 2029. This order extends Zodiac's boxship newbuilding drive to 19 vessels since early 2025, with a combined capacity of around 135,200 TEU.
Logistics Houthis Keep Up Pressure on Saudi Shipping with Fourth Tanker Attack Amid Partial Red Sea Recovery
Yemen's Houthis attacked the 49,990 dwt tanker NCC Ghazal, the fourth Saudi-linked vessel targeted since declaring a blockade. Despite a partial recovery in traffic through Bab el-Mandeb, crossings remain volatile with no VLCCs or LNG carriers. The Joint Maritime Information Center has raised the threat level to substantial.
Logistics Resumed US-Iran Attacks Inject Fresh Uncertainty Into Strait of Hormuz Shipping
Iran and the United States have resumed military attacks, ending a lull and injecting fresh uncertainty into shipping through the Strait of Hormuz. Iran's Revolutionary Guard claims it hit three oil tankers after they ignored warnings, while a US blockade since July 14 and mine risk make internationally recognised lanes unusable. A Gulf-backed Omani proposal for joint management faces Iranian rejection.
Logistics COSCO Shipping Heavy Industry Plans $1.1 Billion Mega Yard in Tianjin with Two VLCC-Scale Drydocks
COSCO Shipping Heavy Industry has filed environmental plans for an RMB8bn ($1.1bn) greenfield shipyard in Tianjin's Lingang Economic Area. The facility will cover 145.9 hectares with two VLCC-scale drydocks, three outfitting berths, and 448,000 sq m of workshops. First newbuild deliveries are scheduled for 2029, targeting large bulk carriers and containerships.
Logistics Diana Shipping threatens to cut Genco takeover bid after fleet value drops $50m
Diana Shipping has warned it may reduce its $27.34-per-share takeover proposal for Genco Shipping & Trading, citing a $50 million drop in Genco's fleet value since early June. The Athens-based owner claims a softer dry bulk market is eroding Genco's net asset value, and has also questioned the valuation method used by the New York-listed owner. Genco has rejected the allegations, stating that broker valuations show vessel prices are still rising.
Logistics Golden Energy Offshore Secures UK North Sea PSV Contract Worth Up to £10m
Norwegian offshore vessel owner Golden Energy Offshore Services (GEOS) has secured a term contract for its 2015-built PSV Energy Pace with an unnamed first-class international charterer. The firm period covers nine wells (~319 days) with options for eight more, total potential value of £10m ($13.3m). Operations will take place on the UK Continental Shelf.
Logistics CMA CGM and Stonepeak launch $2.4bn United Ports joint venture for global terminal expansion
CMA CGM and infrastructure investor Stonepeak have completed the formation of United Ports, a joint venture holding nine container terminals across five countries. Stonepeak invested $2.4bn for a 25% stake, while CMA CGM retains 75% ownership and operational control. The portfolio includes key gateways in Los Angeles, New York, Brazil, Spain, Taiwan, and Vietnam, with plans to add Nhava Sheva Freeport Terminal in India pending regulatory approvals. The JV will fund capacity expansions, cargo-handling equipment, rail connections, and electrification. Stonepeak may commit an additional $3.6bn, bringing potential total investment to $6bn.
Logistics CMA CGM and Stonepeak Launch United Ports LLC in $2.4 Billion Terminal Joint Venture
French liner CMA CGM and private equity firm Stonepeak have announced the formation of United Ports LLC, a joint venture to expand CMA CGM's global network of marine terminals. Stonepeak will invest $2.4 billion for a 25% stake, with CMA CGM retaining 75% and operational control. The venture includes 10 key port assets across four continents, and CMA CGM plans to reinvest the capital in its core transportation businesses.
Logistics UPS shift away from Amazon shows bigger payoff
UPS completed its phase-out of low-margin Amazon business in Q2, leading to higher revenue per piece and profit despite lower volume. The company closed 45 facilities and automated 68.5% of U.S. volume, driving cost savings. Management raised full-year guidance.