There was more evidence in this week’s container port freight markets that peak prices on the main east-west deepsea trades have passed. All three major indices recorded single-digit declines on the back of lower utilisation of ships loading in Asia. The most significant drops were seen on the transpacific Asia-North America route, where Drewry’s...

SEEKING ALPHA reports: – Saia, press release here (NASDAQ:SAIA): Q2 GAAP EPS of $3.83 misses by $0.18. (Quarterly sales were in line with expectations at $823.2m, +18.5% versus Q2 23.) The full post is here. Saia president and CEO Fritz Holzgrefe said in his prepared remarks: “During the quarter, we successfully opened six new terminals...

New Zealand’s Mainfreight (MFT) has topped our DeskOne terminal coverage for a couple of weeks now, its stock rally up to the annual general meeting (AGM) held yesterday, 25 July, ending in tears. As we highlighted, the latest update from management was hard to digest for investors following previous financial disclosure at the end of May where it...

Norwegian Car Carriers (NOCC) has added a third ‘ammonia-ready’ 7,000ceu LNG-powered ship to its two-vessel, $88m order at Chinese shipyard CIMC Raffles. The global newbuilding orderbook for pure car and truck carriers (PCTCs) is at an all-time high, amounting to 35% of the current fleet, according to recent Clarksons data. A vessel ‘ready’ for...

You have to hand it to Lineage Logistics in one respect – when management decides to do something, it doesn’t hang around. On 16 July it announced a price range of $70-$82 per share for its hungrily anticipated IPO, but noted it still awaited Nasdaq approval to put 47m shares up for sale. Nine days later – yesterday, 25 July – it made its Nasdaq...

Fears the Paris Olympic, and Paralympic, Games, with the opening ceremony this evening, could be blighted by industrial action in the transport sector have not materialised, and attention had turned to the promise of a grandiose and unique show for audiences worldwide. The centrepiece is an 85-strong flotilla of vessels on the river Seine, with delegations...