11:41 a.m. Feb. 24, 2021
- By Andrea Riquier
Dow ends shy of 32,000 milestone, books record as Powell testimony awakes bulls on Wall StreetStocks surge to end higher Wednesday, even as bond yields scale new heights, after Federal Reserve Chairman Jerome Powell's second day of dovish testimony helped restore bullish sentiment on Wall Street.
11:46 a.m. Feb. 22, 2021
- By Jeremy C. Owens
Carnival plans to sell $1 billion in fresh stock as cruise ships remain in portUnable to take customers around the world on its cruise ships, Carnival Corp. expects to sell some stock instead.
9:09 p.m. Feb. 16, 2021
Maersk fast-tracks plans for carbon-neutral shipShipping giant A.P. Moller Maersk A/S is fast-tracking efforts to transition to carbon-neutral ship operations with plans to add in two years what would be the first container ship running on biofuel.
11:49 a.m. Feb. 10, 2021
Stocks Have a Mixed Close as February Rally Pauses
Consumer price prices rose 0.3%, in line with estimates, while core inflation, which excludes food and energy, was unchanged, missing estimates of 0.2%.
11:10 p.m. Feb. 9, 2021
- By Barbara Kollmeyer
European stocks struggle after mixed earnings, while U.S. equity futures riseA weaker day for markets on Tuesday is giving way to gains on Wednesday, with European investors fielding earnings and U.S. inflation data on deck.
10:11 p.m. Feb. 9, 2021
Maersk profit up amid strong demand, freight ratesA.P. Moeller-Maersk AS said Wednesday that it saw surging demand in the fourth quarter while freight rates spiked due to bottlenecks across the entire supply chain, including a shortage of ships and containers.
8:21 a.m. Feb. 5, 2021
Canada bans cruise ships for a year, blocking trips from AlaskaThe Canadian government has extended a ban on cruise ships through February 2022, which is expected to block trips from visiting Alaska this year.
5:54 p.m. Feb. 4, 2021
Canada extends cruise-ship ban through February 2022The extended ban complicates cruise operators’ efforts to restart sailings in North America this year, prolonging their hiatus since voyages came to a halt in March 2020 due to coronavirus outbreaks on ships.
11:27 a.m. Feb. 2, 2021
Stocks Rally to Close Higher as Stimulus Hopes Grow
A batch of strong earnings reports and continued signs of progress on the stimulus and Covid-19 fronts helped boost sentiment.
4:45 a.m. Jan. 27, 2021
- By Sunny Oh
Surge in shipping costs adds to inflation worries -- 'no one in the industry was prepared for this spike'Already eyeing the potential inflationary surge sparked by further U.S. fiscal relief, investors may have to reckon with another source of inflation - rising shipping rates.
5:46 p.m. Jan. 22, 2021
Intervene Now to Stop a Humanitarian Crisis at Sea
The pandemic has left ship crews stranded around the world. The crisis is threatening global supply chains.
3:29 p.m. Jan. 22, 2021
Shipping Costs Are Spiking. What That Means for Inflation.
Containerized shipping has driven up transport costs since pandemic populations shifted to goods from services. These costs will add to retail prices, but are unlikely to ignite inflation. The answer: an end to the pandemic.
7:29 a.m. Jan. 19, 2021
Shipping Rates Are Soaring. What That Says About the Economy — and Inflation.
Rising demand for goods from people stuck at home during the pandemic has lifted one measure of the cost of shipping by some 60% since early December. Will it also cause prices to rise?
10:54 a.m. Jan. 12, 2021
5 Stocks to Play the Next Surge in Natural Gas
Prices move in response to the weather, and on changes in supply and demand. Things are looking up in both areas, according to analyst Jordan McNiven at Tudor Pickering Holt & Co.
8:55 a.m. Jan. 12, 2021
- By Tomi Kilgore
Royal Caribbean extends cruise suspensions through AprilShares of Royal Caribbean Group slipped 0.4% in afternoon trading Tuesday, after the cruise operator it will extend the suspension of its cruises for its global fleet through April 30, amid health concerns related to the COVID-19 pandemic. The company said its decision comes after consulting with Cruise Lines International Association, and in conjunction with the Centers for Disease Control and Prevention (CDC). The company had previously suspended cruises through February. Tuesday's announcement comes after fellow cruise operator Carnival Corp. it would pause sailings of its Princess Cruises through May 14. Although the CDC isn't suspending cruises, it currently recommends " ," because the risk of COVID-19 on cruise ships is "very high." Royal Caribbean said its new suspension excludes sailings onboard its Quantum of the Seas cruise ship in Singapore and Spectrum of the Seas in China. "Our plan is to resume further operation in May," the company said. The stock has gained 2.9% over the past three months but has tumbled 46.0% over the past 12 months, while the S&P 500 has gained 16.3% over the past year.
4:29 a.m. Jan. 11, 2021
- By Tomi Kilgore
Carnival expects to report quarterly net loss of more than $2 billionShares of Carnival Corp. fell 1.6% in premarket trading Monday, after the cruise operator indicated that fiscal fourth-quarter losses would be greater than expected, while cash burn was better than forecast. The company said it expects to report a net loss of $2.2 billion for the quarter ended Nov. 30, compared with the FactSet loss consensus of $1.59 billion. Excluding non-recurring items, the adjusted loss is expected to be $1.9 billion, compared with the FactSet loss consensus of $1.60 billion. The monthly average cash burn rate for the quarter was $500 million, which was "slightly better than expected," due to the timing of capital expenditures. The monthly average cash burn rate for the fiscal first quarter is $600 million. Separately, the company now expects to dispose of 19 ships, representing about 13% of capacity before the COVID-19-related pause of operations. The stock has tumbled 58.1% over the past 12 months through Friday, while the S&P 500 has gained 17.1%.
8:09 p.m. Dec. 13, 2020
Oil tanker suffers explosion after being hit by 'external source' near Saudi Arabia's port city The Singapore-flagged BW Rhine saw all 22 sailors on board escape without injury, the BW Group said in a statement. The company warned it was possible some oil leaked out from the site of the blast.
7:45 a.m. Dec. 9, 2020
Honda halts UK production amid COVID-19, Brexit shipping delaysCar maker Honda said Wednesday it has temporarily halted production at its plant in England after shipping delays linked to the COVID-19 pandemic and preparations for Brexit left it with a shortage of parts.
9:59 p.m. Dec. 8, 2020
Royal Caribbean 'cruise to nowhere' returns to Singapore after passenger tests positive for COVID-19 Royal Carribbean said in a statement that a guest on the Quantum of the Seas ship “tested positive for coronavirus after checking in with our medical team.”
7:50 a.m. Dec. 8, 2020
- By Tomi Kilgore
Norwegian Cruise's stock surges toward 9-month high, and sixth-straight gainShares of Norwegian Cruise Line Holdings Ltd. rallied 4.4% in midday trading Tuesday, putting them on track for the highest close since March 5. The stock was headed for a sixth-straight gain, in which it has soared 21.0%, and for the 10th gain in 11 sessions. Tuesday's rise comes a day after the cruise operator announced a partnership with AtmosAir Solutions to install continuous disinfection air purification systems in all of its ships. The systems feature active COVID disinfection in the air and on surfaces through bi-polar ionization. The win streak has continued despite the company's announcement last week that it was extending the suspension of voyages for another two months, through March. Over the past six days, shares of fellow cruise operators Royal Caribbean Group tacked on 5.6% and Carnival Corp. climbed 18.7%, while the S&P 500 has gained 2.2%.
11:58 p.m. Dec. 7, 2020
Shipping secrets and tech tips for pulling off a physically-distanced gift exchangeSending gifts and enjoying a family get-together via videoconferencing is a great way to make the most of the situation and create holiday magic. But don't just wing it.
2:49 a.m. Dec. 6, 2020
Pearl Harbor Day to be commemorated differently in 2020 due to COVID pandemicHealth risks to the aging survivors of the attack and other World War II veterans mean none of them will gather at Pearl Harbor this year.
3:45 a.m. Nov. 21, 2020
- By Nicole Lyn Pesce
16 ways to throw together a smaller, no-fuss Thanksgiving dinner at the last minute The CDC says folks shouldn't travel for Thanksgiving. These places can deliver everything you need — contact-free, if you want.The CDC says folks shouldn't travel for Thanksgiving. These places can deliver everything you need — contact-free, if you want..
1:30 p.m. Nov. 20, 2020
Triton International Feared Covid Would Wreck 2020. It Didn’t, and Now It’s a Strong Play on Global Shipping.
The coronavirus crisis has produced many winners—and not all of them obvious. Consider container-leasing shipping company Triton International.
10:15 a.m. Nov. 20, 2020
Oil Is Building Up in Storage Again. Why Prices Won’t Go Negative This Time.
In the week ending Nov. 13, 61.6 million barrels of crude were in storage at Cushing, which is about 81% of capacity. That’s just 3.8 million barrels below the storage levels from April.
2:52 a.m. Nov. 11, 2020
Why the Stock Market Is Ignoring the Covid-19 Resurgence
Biden moving forward with transition plan despite challenges, Supreme Court hears argument against Affordable Care Act, U.K. erects barricades against “hostile” takeovers, and other news to start your day.
9:22 a.m. Nov. 10, 2020
Apple Unveils First Macs Powered by New M1 Chip
The computers are powered by the M1, a new Apple-designed system-on-a-chip, as Apple’s long relationship with Intel fades away.
4:04 a.m. Nov. 6, 2020
- By Jacob Passy
Cruises from the U.S. can begin sailing again --- but be ready for shorter voyages, multiple COVID tests and no more buffetsWhile the cruise industry can start to take steps to reopen, the CDC's final approval could take months to receive.
3:25 a.m. Oct. 28, 2020
Norfolk Southern profit falls, but beats forecastsNorfolk Southern Corp. said profit moved lower for the third quarter in part because several key products the railroad ships remained weak as the economy looks to rebound from the effects of the Covid-19 pandemic.
3:53 a.m. Oct. 13, 2020
Shipping Giant Maersk Says Demand Is Improving. Why That’s Good News for Everyone.
The shipping giant said demand was recovering faster than expected and raised its profit guidance for 2020.
7:30 a.m. Oct. 9, 2020
- By David M. Hart
Clean-energy technology often faces a ‘valley of death’ — this idea would change that Government policies to help clean-energy companies commercialize their technologies are necessaryGovernment policies to help clean-energy companies commercialize their technologies are necessary.
6:34 a.m. Oct. 9, 2020
- By Rupert Steiner
Royal Caribbean trials ‘cruises to nowhere’ with ships sailing in circles from SingaporeTough new safety measures mean passengers won’t be able to enjoy the sights and experiences of faraway lands, but can still appreciate the facilities, food and weather onboard.
1:52 a.m. Oct. 5, 2020
- By Philip van Doorn
Professional investors have their eye on these eight stocks as the used-car market in the U.S. moves online Carvana, for now, leads the way in a used-car market that’s fragmentedCarvana, for now, leads the way in a used-car market that’s fragmented.
3:57 a.m. Oct. 1, 2020
- By Barbara Kollmeyer
The next batch of winning stocks in the pandemic era will come from these 3 areas, fund manager saysThe stock market this year has clearly shown which companies can thrive in a pandemic. Now it's time to see who can survive. Our call of the day lays out the sectors to own.
1:00 a.m. Sept. 29, 2020
4 Small-Cap Energy Stocks With Healthier Balance Sheets
Most of the stocks are down this year, but promising small-cap companies could become takeover targets or attract new investors looking for alternatives to the large-caps in the industry.
5:49 p.m. Sept. 21, 2020
- Associated Press
Trump’s Space Force has its first deployment: to the United Arab EmiratesSpace Force now has a squadron of 20 airmen stationed at Qatar’s Al-Udeid Air Base in its first foreign deployment.
2:11 a.m. Sept. 16, 2020
- By Tomi Kilgore
Carnival’s stock takes a dive after plans for stock offering, increased ship disposals Royal Caribbean optimistic that CDC could lift no-sail order sooner rather than later, analyst says, but shares fall along with Carnival’sShares of Carnival Corp. dropped Tuesday, helping drag down its peers’ stocks, after the cruise operator disclosed plans for a $1 billion stock offering and for accelerated capacity reductions, as it deals with the negative effects of the COVID-19 pandemic on its operations.
2:44 a.m. Sept. 15, 2020
- By Tomi Kilgore
Carnival's stock slumps after ship disposals increased, net loss outlookShares of Carnival Corp. slumped 2.5% in premarket trading Tuesday, after the cruise ship operator said it will accelerate actions to become leaner, including an increased reduction in capacity. The company said it was accelerating the exit of 18 ships from its fleet, representing a reduction in capacity of 12%; in July, the company said it expected to dispose of 13 ships, representing a reduction in capacity of 9%. Carnival said it expects only two of the four ships originally scheduled to be delivered in 2020 will be delivered by the end of the year, and only expects five of nine ships originally scheduled for delivery in fiscal 2020 and 2021 are expected to be delivered by the end of 2021. Also Tuesday, Carnival said it expects a net third-quarter loss of $2.9 billion, including a $900 million cash impairment charge, and an adjusted net loss of $1.7 billion. The FactSet consensus for net losses is $1.66 billion. The stock has tumbled 64.9% year to date through Monday, while the S&P 500 has gained 4.7%.
9:35 a.m. Sept. 8, 2020
Target’s Coronavirus Boost Might Not Last. Here’s Why.
Target stock is at risk as the retailer’s e-commerce business grows, says MKM analyst Bill Kirk, who reiterated a Sell rating and $127 price target.
6:56 a.m. Sept. 6, 2020
- Associated Press
Germany intensifies pressure on Russia over poisoning of opposition leader NavalnyGermany on Sunday increased pressure on Russia over the poisoning of Russian opposition politician Alexei Navalny, warning that a lack of support by Moscow in the investigation could “force” Germany to rethink the fate of a German-Russian gas pipeline project.