Logistics

COSCO Plans European Transhipment Hub

 China's COSCO is forging ahead with a plan to build a European transhipment hub, reports Reuters. The state owned shipping giant is expected to make an offer for

MOL Enhances CSW Service between Asia and East Coast South America

 Mitsui O.S.K. Lines (MOL, President & CEO: Junichiro Ikeda) today announced the enhancement of its Asia and East Coast South America trade by merging existing

MISC Bhd: Revenue Up

 Malaysia International Shipping Corporation Berhad (MISC Berhad), a shipping arm of Petronas, has seen an increase of 12.3 percent in its net profit for the 2015

Cosco Merger May Change Industry Dynamics

 The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry,

Kemp Joins PMSA as Vice President

The Pacific Merchant Shipping Association (PMSA) announced the hire of Carl Kemp as a Vice President based in the organization’s Long Beach office.    Kemp brings

LNG Deliveries to Lithuania to Triple

LNG deliveries to Lithuania will triple to the end of September as a result of two new contracts signed by the country's Klaipeda terminal, its operator Klaipedos Nafta said on Friday.

Baltic Index Records New Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low for the ninth straight

Lithuanian Lietuvos Duju Tiekimas to buy LNG from Statoil

Lithuanian gas supplier Lietuvos Duju Tiekimas (LDT) said on Friday it would buy 300 million cubic metres (mcm) of gas from Norway's Statoil, to be delivered to the Klaipeda LNG terminal by October.

Obama's Call for $10 Oil Tax is DOA

President Barack Obama's final budget will propose a $10 per barrel oil tax, investing the proceeds in mass transit, high-speed rail, urban planning, highway upgrades and self-driving cars,

COSCO Also Eyes Greek Train Network

China's COSCO already the sole bidder for Greece's Piraeus Port. Buying both would give COSCO a European transhipment hub. China's COSCO is expected to make

Asia-Europe Box Rates Down 8 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 per 20-foot container (TEU) in the week ended on Friday,

EU Clears Schlumberger's Acquisition of Cameron

The European Union executive on Friday cleared the purchase of equipment maker Cameron International Corp by Schlumberger, the world's No.1 oilfield services provider.

BG Profits Slip Before Shell Takeover

BG beats 2015 production target thanks to Brazil, Australia. Britain's BG Group, in its last results update before its takeover by Shell, reported a 22 percent

UAE Plans Floating LNG Import Terminal

State-owned Abu Dhabi National Oil Co. (ADNOC) plans to start a new liquefied natural gas floating import terminal (FSRU) in the second half of this year, three LNG industry sources said.

Loss-Making Production Unlikely to be Shuttered

Even as millions of barrels of oil are pumped at a loss at current prices, only a fraction of the production has been shut, industry research group Wood Mackenzie said on Friday.

Oil Steady, Weak Fundamentals Weigh

Speculative activity largely behind price volatility. Oil steadied on Friday in a volatile session, as bearish fundamentals pressured prices despite bullish indications earlier in the week.

Glencore to Lift Iranian Fuel Oil at Bandar Mahshahr

Anglo-Swiss commodity trader Glencore has chartered a ship to load Iranian fuel oil at the Iranian port of Bandar Mahshahr in a move that signals the return of

U.S. Energy MLPs May be Running Out of Road

Investment vehicles that funneled more than $100 billion into U.S. pipelines, storage and other facilities during the shale boom now face an existential crisis

Total Consortium Bids for Greek Offshore Block

France's Total in a consortium with Greece's Hellenic Petroleum and Italy's Edison has bid for one offshore gas drilling block in the west of Greece, an official

Schottel Canada Opens Quebec Offices

Sylvain Robitaille has been named Regional Sales Manager. Reflecting the growing volume of shipbuilding projects and expansion of its customer base in the region,

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