Logistics

Bollore Consortium Misses out on Cameroon's Kribi Port Shortlist

A consortium led by France's Bollore failed to make the final shortlist of firms vying to manage a new container terminal in Cameroon's southern port of Kribi,

Long Beach Picketers Not Striking -Port CEO

Port of Long Beach CEO Jon Slangerup issued a statement addressing the status of picketing truckers at the harbor, pointing out that the demonstration is not a strike.

Baltic Index Flat on Muted Shipping Activity

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, remained flat on Monday on muted shipping activity.   The overall index,

Milaha Reports Improved Net Profit for Q1

Qatar Navigation (Milaha) Q.S.C. has announced its financial results for the three months ended March 31, 2015, in which it reported operating revenues of QR 786 million vs.

Truckers to Strike Four SoCal Shippers

Truckers who haul freight from the ports of Los Angeles and Long Beach will go on strike against four ground-shipment companies on Monday, a Teamsters union official said,

Global Investors Move Against Norway on Gasline

A group of international investors is suing Norway in an attempt to overturn its decision to cut gas pipeline tariffs, arguing the fee reduction will cost them 15 billion crowns ($1.

Maritime Tension Dominates Southeast Asia Summit

Southeast Asian leaders edged closer to open criticism of China's land reclamation in the disputed South China Sea at a regional summit on Monday, as the Philippines

PetroChina Q1 Profit Dives, Misses Target

PetroChina, China's biggest oil and gas producer, reported a sharper-than-expected 82 percent fall in first-quarter profit, due to lower international crude prices

Saipem Beats Q1 Forecast on Improved Margins

Italian oil services group Saipem confirmed guidance for the year after its first-quarter operating profit beat forecasts on healthier profit margins from new orders.

Sonatrach Demanding Service Discounts

Algeria's state energy company Sonatrach has demanded its service providers cut their prices by up to 15 percent as the OPEC member country tries to ward off the impact of falling oil prices,

Norway: Statoil Must Proceed with Snorre Expansion

Norway's Statoil must move ahead with the delayed upgrade of the Snorre oil and gas field in the North Sea because it is a time-critical investment, energy minister Tord Lien said on Monday.

Oil Glut Strains West Texas Storage Logistics

Four-hundred miles from the near overflowing tanks at the U.S. oil hub in Cushing, Oklahoma, a second glut in the Permian Basin of West Texas is pressuring oil

Sembcorp Marine Q1 Profit Down, Challenges Coming

Brazil's oil and gas industry mired in uncertainty. Singapore-based rig builder Sembcorp Marine posted its lowest quarterly net profit in at least five years and forecast a challenging year ahead,

Precision Drilling Beats Street, Costs Fall

Precision Drilling Corp reported a better-than-expected quarterly profit as job cuts and other cost-cutting measures helped Canada's largest drilling contractor

Lagos Port Drags on Africa's Top Economy

Ruling party reforms improved Apapa port; shippers still face delays and corruption. The road leading to the Lagos port, which handles nearly everything that Africa's biggest economy imports,

Brent Slips to $65, Dollar Strengthens

Dollar up 0.3 percent against basket of currencies; U.S. rig count drops to lowest since 2010. Brent crude slipped to around $65 on Monday as the dollar strengthened, but a further sign that U.

Iron Ore Miners, OPEC on Same Path

One of the themes from the recent weakness in crude oil and iron ore is that major producers are deliberately oversupplying as they are willing to tolerate falling

PSA Commissions new Dammam Terminal

  Saudi Global Ports LLC (SGP), a joint-venture company formed between the Public Investment Fund (PIF) of the Kingdom of Saudi Arabia and PSA International (PSA)

Hiab to launch MULTILIFT Futura - a new-generation skiploader

  Hiab, part of Cargotec, is set to launch a new generation skiploader, MULTILIFT Futura. The new skiploader with over 100 smart innovations is designed to lift

Golden Ocean Reshuffles Fleet, Delays Newbuilds

  Golden Ocean Group Limited has entered into several agreements concerning its fleet. Golden Ocean has agreed with Ship Finance International Ltd ("Ship Finance")

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