NOV '24 US Transport Unemployment Up Again, now above Pre-Pandemic benchmark
The unemployment rate in the U.S. transportation sector was 4.8% (not seasonally adjusted) in November 2024 according to the Bureau of Labor Statistics (BLS).These data have been updated on the Bureau of Transportation Statistics’ (BTS) Unemployment in Transportation dashboard. In November 2024, the transportation sector unemployment rate rose 0.3 percentage points from 4.5% in November 2023 and was above the pre-pandemic November 2019 level of 3.3%.
Philippines, Partners Hold Drills in the South China Sea
The Philippines held maritime drills with the United States and Japan inside its exclusive economic zone in the South China Sea, its military said on Friday, two days after a maritime confrontation with Beijing around a disputed shoal.The drills, which brought together a U.S. Navy P-8A Poseidon aircraft, Philippine Navy ship BRP Andres Bonifacio and a C-90 small plane, and Japan's Murasame-class destroyer JS Samidare…
US Diesel Exports to ARA Set to Rise
Diesel shipments from the U.S. Gulf Coast to Europe's main trading and refining hub, the Amsterdam-Rotterdam-Antwerp (ARA) region, are set to rise owing to improving export margins on the back of scarce supply in Europe and rising U.S. refinery production, according to traders and ship tracking data.Europe is seeking higher transatlantic diesel imports, as weaker export margins for shipments from east of Suez slowed flows on that route in the last two months.
Baltic Index Snaps Losing Streak on Larger Vessel Rate Rise
The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped a seven-session losing streak on Friday, supported by gains in larger vessels.The index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, gained 7 points to 1,167 points, but the index was down over 13% for the week.The capesize index .BACI edged up 5 points to 1,535 points. The contract posted about 28% decline for the week.
Bulk Shipping: Corn surges on technical buying, solid exports
U.S. corn futures climbed to a two-week high on Friday on technical buying and support from strong U.S. export sales, putting the market on pace for its strongest weekly advance in a month.Soybeans followed corn higher, although forecasts for a record-breaking Brazilian harvest limited gains, while wheat futures were mixed.Row crop futures have largely held within narrow trading ranges since mid-November as traders assessed crop weather in South America…
AET, SMF ink MoU to Strengthen Maritime Talent
AET, owner and operator of maritime transportation assets and specialised services and a member of the MISC Group, and the Singapore Maritime Foundation (SMF) have signed a Memorandum of Understanding (MoU) to jointly develop Singapore’s maritime talent pool.Under the MoU, AET will sponsor four scholarships and two internships per year from 2025 to 2027, continuing its support for the AET-MaritimeONE partnership.
Svitzer enters Sao Luis Port, ramps up Brazil presence
Svitzer has begun operations in the Port of Itaqui in São Luís, Maranhão, marking another significant milestone in its expansion across Brazil. Over the past nine years, Svitzer has invested more than R$650 million in the country, reflecting its commitment to the Brazilian market and its strategy of delivering safe and reliable marine services to its customers.The Port of Itaqui, located in one of Brazil’s largest port complexes…
Port Authority-Led Supply Chain Panel Steers NY/NJ Seaport
The summer of 2013 was a breaking point for the Port of New York and New Jersey.“It was like Armageddon,” said Bethann Rooney, port director at the Port Authority of New York and New Jersey. “It was the worst cargo congestion we’ve ever seen.”The compounding causes – technological difficulties, a labor shortage, and lingering effects of Hurricane Sandy – couldn’t be fixed by any single entity at the port.
First Jacket Foundation for CVOW Substation Sets Sail from Danish Port
The first jacket foundation for the substation of the Coastal Virginia Offshore Wind (CVOW) project has departed from the Danish Port of Esbjerg and is on its way to the United States to be installed at the country’s largest offshore wind farm.The first of three offshore jacket foundations, standing 60-meter-tall and weighing approximately 2,445.6 tonnes, has been shipped from the production site at…
Converse Joins Greensea IQ EverClean Growth Team
Greensea IQ appointed Brooks Converse as Director of Business Development, focused on driving the growth and adoption of EverClean, the company’s flagship in-water hull cleaning solution, while building stronger partnerships within the maritime industry.Converse holds a Master of Science in International Transportation Management from the State University of New York Maritime College, and his understanding…
Rottnest Fast Ferries takes new 32m Vessel
Austal Philippines delivered a 32m catamaran to Rottnest Fast Ferries, less than 12 months after commencing construction in Balamban, Cebu.Dubbed Ocean Master and designed by Incat Crowther, was officially accepted by representatives from Rottnest Fast Ferries following the successful completion of sea trials in November 2024.President of Austal Asia, Wayne Murray said “The Austal Philippines team…
Senator Wicker, SECDEF Nominee Pete Hegseth Meet
U.S. Senator Roger Wicker, R-Miss., the highest-ranking Republican on the Senate Armed Services Committee, met with President Trump’s nominee to serve as the next Secretary of Defense, Pete Hegseth.During the meeting, the two exchanged views on a range of critical national defense topics, including the military challenge posed by the Chinese Communist Party, continued instability in Europe, and the growing threats of adversaries such as China…
Cargo Ship’s Crew Rescued in Red Sea
The crew of Panama-flagged cargo ship MV ISA STAR have been rescued in the Red Sea after sending a distress signal, the EU's Aspides naval mission said."All crew members aboard the MV ISA STAR have been rescued and will be transported to Djibouti, the nearest safe port of call," Aspides said in a statement posted on Facebook.The vessel had reported flooding in the engine room and the master requested assistance…
Sembcorp Signs 10-Year LNG Supply Contract with Chevron
Sembcorp Industries has signed a Sale and Purchase Agreement (SPA) with Chevron’s Singapore branch to import up to 0.6 million tonnes of liquefied natural gas (LNG) year, starting from 2028.The LNG deliveries will take place over the course of 10 years as agreed by the companies.The SPA will further strengthen Sembcorp’s existing natural gas supply portfolio from diversified piped and liquefied sources globally.As a key natural gas importer for Singapore…
