Logistics

Baltic Sea Index Down as Weak Demand Hits Vessel Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Friday as lack of demand took a toll on rates for most of the vessel segments.

Soo Locks Open for Great Lakes Shipping Season

At 12:01 a.m. on Wednesday, the U.S. Army Corps of Engineers officially opened the Soo Locks for the start of the 2015 Great Lakes shipping season.   The locks at Sault Ste.

Plans in Place to Test Intermodal River Transport

The Paducah-McCracken County Riverport Authority and Ingram Barge Company has announced plans to assess the viability of Intermodal River Transportation, utilizing

Asia VLCC Rates Flat, Owners Battle Further Drop

Owners to resist charterers attempts to push rates down; VLCC rates could soften if cargo volumes fall. Rates for very large crude carriers (VLCCs) on key Asian

Japan's JX Refining Output Shrinks 10 pct y/y

Japan's top oil refiner JX Nippon Oil & Energy Corp said on Friday it would refine 10 percent less crude oil in April from the same month a year ago due in part to slowing domestic demand.

Statoil: Polarled Pipe-Laying Kicks Off

On 26 March, the Solitaire pipe-laying vessel started on the first stage of the Polarled installation project. The 482-kilometre long pipeline will transport gas

CNOOC Profit Up, More Cost Cuts coming

China's top offshore oil producer CNOOC Ltd said on Friday its 2014 net profit rose 6.5 percent, beating forecasts, as cost cuts and higher output helped it offset the slide in global oil prices.

Cosco Bulk Shipping Losses Down in 2014

China Cosco said losses in its main dry bulk shipping business fell sharply in 2014 and its container shipping gross profit grew amid a still subdued global shipping market.

Oil Falls as Middle East Supply Fears Ease

U.S. crude set for biggest weekly gain since early 2011. Oil prices fell more than $1 a barrel on Friday as worries receded over the threat of disruptions to

Trafigura Expands Rosneft Oil Deal

Russia's Rosneft to sell Trafigura up to 1.6 mln T in April; Trafigura's April volumes of Russian oil second only to China. Trafigura is emerging as the new king of Russian oil trading,

Schlumberger Debuts Single Intervention Tool

Schlumberger announced today the release of the ACTive Straddle* coiled tubing real-time multiset inflatable packer. The packer provides all functions needed to

Qatar Hikes Container Storage & Clearance Charges

   Changes to sea port charges have been implemented in Qatar, as per the decision of the country's Council of Ministers.   20' containers (clear in approx. 3–7 days,

GAIL Seeks 7 LNG Cargoes

 GAIL (India) will buy seven liquefied natural gas (LNG) cargoes for delivery from October 2015 until December 2016, according to the tender document obtained by Reuters.

Baltic Sea Freight Index Flat on Muted Vessel Activity

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, remained steady on Thursday due to a muted vessel activity.

Long Beach, LA Collaborate to Improve Cargo Flow

Executives from the ports of Long Beach and Los Angeles held a kickoff meeting earlier this week to begin working together to focus on cargo conveyance strategies

Expanded Panama Canal to be Operational by April 2016

The widened Panama Canal is expected to finally be up and running in April 2016, after months of delays and cost overruns, AFP reports. The expansion project area will allow bigger ships to transit,

Soo Locks Open for Cargo Ships

 Despite the chilly temperatures and heavy snowfall the U.S. Army Corps of Engineers opened the Soo Locks for the start of the Great Lakes shipping season.    The Edwin H.

'Run to Remember' by USCG Foundation

   The Coast Guard Foundation, a non-profit organization committed to the education and welfare of Coast Guard members and their families, announced this year’s

JIT Transit Slots Reduced at Panama Canal

   The Panama Canal has experienced an unusual increase in the number of vessels awaiting transit during the past few weeks. Several measures have been implemented to reduce the backlog,

Swiber Gains $405.6 mi Contracts

  Business momentum is fast picking up at Swiber Holdings Limited despite the downturn in the oil and gas industry as the Group clinches a total of US$405.6 million for a series of contracts,

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