#Maritime

CAI International sells railcar fleet to Infinity Transportation

A photograph of two railcars on a train track.

Container operator and transportation finance company CAI International is selling its remaining railcar fleet to Infinity Transportation, a transportation lessor and Global Atlantic Group subsidiary, so that it can concentrate on its container leasing business.

Infinity will buy the assets for $228.7 million in a deal that will close by Dec. 31.

“The sale of our remaining railcar fleet is an important milestone, as exiting the rail business allows us to execute our strategy of maximizing...

https://s29755.pcdn.co/news/cai-international-sells-railcar-fleet-to-infinity-transportation

Maritime History Notes: Tankers landed for Apollo program

WWII ships converted for Apollo program

In May of 1961, President John F. Kennedy committed America to landing an astronaut on the moon by 1970. Preparations to accomplish this amazing feat began soon thereafter. In addition to the actual rocket and space capsule, worldwide communication monitoring and tracking of the space shot were of major concern. This is where three laid-up World War II T-2 tankers supplied the solution.

T-2 Tanker (Photo: Captain James McNamara)

The three were chosen from a class known as Mission tankers of the...

https://s29755.pcdn.co/news/maritime-history-notes-tankers-landed-for-apollo-program

Career Tracks: World Shipping Council elects CEOs co-chairs

Rolf Habben Jansen, CEO of Hapag-Lloyd, and Jeremy Nixon, CEO of ONE, have been elected co-chairs of the board of directors of the World Shipping Council (WSC).

The board of directors also announced this week it had welcomed Matson Navigation and X-Press Feeders as new WSC members.

Jansen and Nixon have begun serving a two-year term as co-chairs. They succeeded Ron Widdows, who had served as the WSC chairman for more than a decade and previously announced his intention to step down once a...

https://s29755.pcdn.co/news/auto-draft

Frontline’s disappearing dividend ‘speaks volumes’ on tanker fears

tanker

Frontline (NYSE: FRO) — the last of the big public tanker owners to post earnings — just gave shipping investors more to worry about over the holidays.

First came the surprise decision to pay no dividend. As Jefferies analyst Randy Giveans put it: “No dividend stocking stuffer” for Q3 and probably for Q4 or Q1. Then came talk of a particularly opaque outlook and even whispers of a resurgence in newbuild interest.

‘We decided to keep the cash’

Frontline, which owns both crude and product tankers,...

https://s29755.pcdn.co/news/disappearing-dividend-speaks-volumes-on-tanker-fears

QSL buys out Groupe Robert’s stake in heavy-haul carrier

A semi-truck of Watson Transport with a trailer containing a rail car. QSL became full owner of Watson.

Canadian maritime terminal operator QSL has bought out Groupe Robert’s stake in Transport Watson & Sycamore to become full owner of the heavy-haul trucking company based near Montreal.

Quebec-based QSL announced the transaction on Tuesday without disclosing a price. The terminal operator and Groupe Robert, one of Canada’s largest trucking and logistics companies, jointly acquired Quebec-based Watson in 2018.

“I would like to thank Groupe Robert for enabling us to bring this acquisition project to...

https://s29755.pcdn.co/news/qsl-buys-out-groupe-roberts-stake-in-heavy-haul-carrier

Ag export equation: Bulk surge, box squeeze, ‘reefer madness’

soybean exports

Good news for America’s beleaguered agriculture exporters: China is buying again. A lot. Bulk-vessel loadings are finally returning to pre-trade-war levels just as President Donald Trump is leaving office.

Bad news for exporters: Ag shipments via containers now face a double whammy. First, exporters still don’t have enough containers to get their goods to Asia in a timely fashion. And second, China is once again clamping down on inspections on fears that frozen food carries COVID.

More ‘reefer...

https://s29755.pcdn.co/news/ag-export-equation-bulk-surge-box-squeeze-reefer-madness

French-American Thanksgiving: CMA CGM donates 10,000 turkeys

If you believe the story of the first Thanksgiving, the French weren’t there. But French container shipping company CMA CGM has gotten involved in the most American of holidays in a big way  this year — by feeding more than 35,000 U.S. residents.

“CMA CGM has a long tradition of giving back to the communities we serve,” said Ed Aldridge, president of CMA CGM America, in a statement. “There is no doubt that COVID-19 has fundamentally changed how all of us will experience Thanksgiving this year.”

CM...

https://www.freightwaves.com/news/french-american-thanksgiving-cma-cgm-donates-10000-turkeys

Tugboat captain presumed lost off Florida coast

The Coast Guard said Monday night that it had suspended the search for a man who had fallen from a tugboat near Blount Island in Jacksonville, Florida, early Sunday morning.

Coast Guard Sector Jacksonville said it received notification at about 3 a.m. Sunday from the tugboat Pops that a 42-year-old man had fallen into the water while transferring to a barge and had not resurfaced.

International Union of Operating Engineers Local 25 on Facebook identified the man as Ozzy Martinez and said he was...

https://www.freightwaves.com/news/tugboat-captain-presumed-lost-off-florida-coast

5 maritime sustainability trends for 2021

Shipping aims for more environmental sustainability.

According to the Environmental Defense Fund (EDF), “ships transport roughly 90% of world trade and account for 3% of global greenhouse gas emissions.” The International Maritime Organization (IMO) is having a large impact on sustainable operations for ocean freight. Here are five environmental sustainability trends coming in 2021.

Potential decarbonization and ETS

The Marine Environment Protection Committee (MEPC) met last week to discuss the new IMO short-term draft amendments that would require...

https://www.freightwaves.com/news/5-maritime-sustainability-trends-for-2021

CMA CGM’s third-quarter profits jump 522%

CMA CGM

Another container-line quarterly report, another big profit and another bullish outlook on the rest of the year.

French carrier CMA CGM reported net income of $567 million for Q3 2020 for the group, up 522% from $45 million in Q3 2019.

For the shipping division, earnings before interest, tax, depreciation and amortization (EBITDA) was $1.5 billion, up 76% year-on-year. Volume rose 1%, to 5.59 million twenty-foot equivalent units (TEUs). Revenue per TEU was $1,120, up 5.2%.

“During the fourth...

https://s29755.pcdn.co/news/cma-cgms-third-quarter-profits-jump-522

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