Finance News


Refinery Strike Affects One-Fifth of U.S. Capacity

Feb 23, 2015

The largest U.S. refinery strike in 35 years entered its fourth week on Sunday as workers at 12 refineries accounting for one-fifth of national production capacity were walking picket lines.Sources familiar with the negotiations said talks may resume by mid-week to end the walkout by 6…

NOL Sells APL Logistics to Kintetsu

Feb 23, 2015

Neptune Orient Lines (NOL) has sold APL Logistics (APLL) to Kintetsu World Express (KWE) for $1.2 billion in a stunning deal that gives the Singapore-listed group a net gain of more than $900 million.The KWE Group considers the establishment…

Retailers to Obama: Bring ILWU, PMA to Washington

Feb 20, 2015

The National Retail Federation issued the following statement from Vice President for Supply Chain and Customs Policy Jonathan Gold on the ongoing West Coast port contract negotiations between the International Longshore and Warehouse Union…

Status of US West Coast Port Dispute Unclear

Feb 20, 2015

The status of a dispute between shipping executives and union leaders for dock workers at 29 U.S. West Coast ports was unclear on Friday, with the Journal of Commerce, which earlier reported a deal may have been reached, saying conflicting reports…

Union Rejects Oil Refinery Contract Offer

Feb 20, 2015

Union negotiators on Thursday rejected the latest contract offer from oil companies and said the largest U.S. refinery strike since 1980 may spread to more plants beyond the 11 where walkouts are underway.The United Steelworkers union (USW)…

Oil Price Plunge Delivers Mixed Results for Australia

Feb 19, 2015

The plunge in oil prices since mid-2014 will lift airline profitability, ease pressure on mining companies, perk up retailers, but strain the oil and gas sector, Moody's Investors Service said in its analytical report 'Low Oil Price Will Lift Airline Profitability…

Ledwidge Named CFO of Irish Continental Group

Feb 19, 2015

David Ledwidge has been appointed to the position of chief financial officer at Irish Continental Group Plc (ICG). A Member of the Institute of Chartered Accountants Ireland and a Bachelor of Science graduate from Dublin Institute of Technology…

Dan Bunkering Introduces New Structure

Feb 19, 2015

Dan-Bunkering (America) Inc. introduces new structure, appointing a new commercial director and employing two additional bunker traders.Operations in the Dan-Bunkering (America) are rapidly increasing and it has become necessary to change the organizational structure…

Glander International Bunkering Hires Dhawan

Feb 19, 2015

Glander International Bunkering  named Sumit K Dhawan as Senior Bunker/Lubricant Trader and Team Leader for the Mumbai office. Dhawan comes to Glander International Bunkering with more than seven years of experience in the bunker and cargo trading industry…

Pressure Mounts to Settle West Coast Port Dispute

Feb 19, 2015

LOS ANGELES, Feb 18 (Reuters) - Two U.S. Cabinet secretaries joined congressional leaders, three governors and a big-city mayor on Wednesday in pushing shipping lines and the dockworkers' union to settle a contract dispute that has led to months of turmoil and cargo backups at 29 West Coast ports…

U.S. Refinery Strike in 18th Day as Talks Resume

Feb 19, 2015

The largest U.S refinery workers strike since 1980 passed its 18th day on Wednesday but talks between union and oil company representatives over safety and pay restarted after a gap of a week and went into the night, according to a union text message…

Crowley Scholarships for Four UW Students

Feb 18, 2015

Crowley Maritime Corp. has awarded Thomas B. Crowley, Sr. Memorial Scholarships to four students at the University of Washington’s (UW) Michael G. Foster School of Business. The students, Jason Cisneros, Callie Hamilton, Irah Dizon and Joshua Banks…

Glander International Bunkering Hires Malik

Feb 18, 2015

Glander International Bunkering has recruited Shahid Malik as Bunker and Lubricant trader for the Dubai office. Malik has been involved in the bunkering industry for eight years, gaining experience in the U.S., Karachi, Saudi Arabia and the Middle East…

U.S. Labor Secretary Joins West Coast Port Talks

Feb 18, 2015

U.S. Labor Secretary Tom Perez on Tuesday urged shipping company executives and union leaders for 20,000 dockworkers to settle a contract dispute that has led to months of clogged cargo traffic and other disruptions at 29 West Coast ports.Perez…

Aker Solutions to cut 300 Norway Jobs

Feb 18, 2015

Norwegian oil services firm Aker Solutions plans to cut its domestic workforce in response to lower demand after crude prices tumbled, the company said on Wednesday.Around 300 employees within the maintenance, modifications and operations…

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