Logistics

Cyprus: Statoil, Exxon, ENI, Total Mulling Offshore Gas

Cyprus received expressions of interest from ENI, Total, Statoil, Exxon Mobil, Qatar Petroleum, and Cairn in a licensing round for offshore hydrocarbon blocks which lapsed last week,

Coal Surges Past $50 as Crude Prices Sag

Both coal and oil rallied from over 10-year lows in early 2016, but coal, oil have diverged since June. Coal prices in 2016 have regained their footing above the psychological threshold of $50,

Oil hits Three-month Low

Brent on track for first monthly loss since January; weekly U.S. crude stocks fall less than expected. Oil prices fell close to three-month lows on Wednesday after U.

Norfolk Southern Profit Dips on Falling Freight Volume

Norfolk Southern Corp, the No. 4 U.S. railroad, on Wednesday reported a higher quarterly net profit, citing a 7 percent drop in freight volumes led by a precipitous decline in coal.

DP World to Develop Kaohsiung Port's Terminal 7

Global trade enabler DP World and the state run Taiwan International Ports Corporation (TIPC), have signed a Memorandum of Understanding (MoU) for the development

GAC Brazil Sets Up 7th Office

In the latest stage of its national expansion, GAC Brazil has opened a seventh office to offer its shipping, logistics, bunker fuels and marine logistics at one

No Clues on Hanjin's Financial Health

 Cash-strapped Hanjin Shipping Co. sources say that the negotiations with tonnage providers for lower rates are undergoing, but wouldn't say much else.   According to Korea Herald, the country's No.

Russia, Turkey Reach Decision on TurkStream, Nuclear Power Plant

A political decision has been taken to continue work on the TurkStream natural gas pipeline project and the Akkuyu nuclear power plant in Turkey, Russian news agencies

New Container Facility at Krishnapatnam Port

Krishnapatnam Port, India's largest all-weather; deep water port on the east-coast of India has inaugurated CONCOR’s - Port Side Container facility – a Government of India undertaking.

China Joins UN Trucking Treaty

China has taken a major step towards establishing a speedy new "Silk Road" to Europe by signing up to a U.N. trucking treaty.   Fifteen years after joining the World Trade Organization (WTO),

Gulf Petrochem Group Expands European Bunker Operations

Gulf Petrochem Group, the UAE based global bunker supplier, has announced that it is now officially offering physical bunker supply in the port of Rotterdam, out of its new office based in Dordrecht.

DP World's H1 Volumes Rise

Ports operator DP World reported on Tuesday first-half 2016 gross container volumes up 1.2 percent on a like-for-like basis and up 2.5 percent on a reported basis.

Broad Declines drag Baltic Index down

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday on lower rates for capesize, panamax and supramax vessels.

BP Q2 Profit Disappoints on Weak Margins, Crude Price

British oil major BP reported lower-than-expected profit for the second quarter due to weak refining margins and oil prices, prompting another cut to its 2016 investment budget to below $17 billion.

John Kemp asks: Why Haven't Oil Prices Fallen Further

Hedge funds and other money managers have begun to amass another large short position in futures and options contracts linked to the price of crude oil. But

BP Pursues New Projects Despite Profit Miss

BP could sign off on three more projects this year. BP will forge ahead with at least three more new projects this year, its CEO said, despite the British oil

Oil Nears $44, Lowest since May

Brent falls to $44.25 intraday, lowest since May 10; BP CEO says oil stocks will take 18 months to work off. Oil on Tuesday hit its lowest since May, falling towards $44 a barrel,

Will UK Maritime Traffic Rise or Fall on Brexit?

 UK container traffic will see more muted growth than expected a few months ago, at least in the short term, says Drewry.   Patrick Walters, Peel Ports’ Group Commercial Director,

Will Container Lines Skip UK Ports on Brexit?

 British importers and exporters prefer direct mainline container services calling at their national ports and tend to dislike feeder services, says a Drewry report.

CMA CGM Reopens Spain to Algeria Service

 CMA CGM NAF Lines is re-opening  a regular service from Barcelona to Djen Djen on EURONAF service with immediate effect.   First Departure: m/v VEGA OMICRON voy.

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