Online Market News

Late 2018 saw the tanker market bubble upwards through late November, with daily vessel hires moving in the direction of, though not yet reaching levels not seen since late 2014-2015, when oil prices were in freefall and inventories building to the brim. A few pundits have suggested that we are seeing a “mini 2014” where lowered oil prices are coaxing another inventory build which would drive tanker capacity utilization, and per diem freight inflows, higher. The oil market has changed over four years…

Los Angeles Mayor Eric Garcetti today announced that Cargomatic, a Los Angeles-based, privately-owned technology company that matches trucking capacity with shipments, is testing its mobile app to speed up the flow of containerized cargo at the Port of Los Angeles (POLA). Cargomatic has developed a peel-off shipping concept that it calls the “Cargomatic Free Flow” program, a web-based solution that optimizes container moves for cargo owners, terminals, and trucking companies. Testing began in early January and preliminary results are encouraging, POLA said.

Congestion at Paradip expected to ease in a week if rains stop; higher-than-usual congestion at some other ports too. Indian power and steel companies are importing shiploads of coal due to a severe shortage at home, leading to heavy congestion in one of the country's busiest ports that now has twice the number of vessels waiting than its available berths. The over-crowding at Paradip port in eastern Odisha could derail India's efforts to prevent a shutdown of more than half of its power plants which are running on stocks of less than a week in the worst deficit since a massive blackout in 2012. While Power and Coal Minister Piyush Goyal has urged power firms to bring more coal into India - already the world's No.

Stolt-Nielsen S.A. and CheMatch.com have formed an alliance to integrate Stolt-Nielsen’s (SNSA) Internet-based logistic system, ChemLink.com, with CheMatch.com’s Internet-based exchange. SNSA has also made a minority equity investment in CheMatch.com. CheMatch.com creates an online market where buyers and sellers benefit from price transparency, market data and global access to products – free of time and geographic boundaries. Holding a formidable place in logistics and supply chain management for the chemical industry through ChemLink, SNSA offers customers the ability to track and manage even the most complex bulk shipments through the supply chain.