Canadian crude shipments to the United States by rail could rise more than 60 percent this year on demand by Gulf Coast refiners for the heavy crudes and the wide differential between Canadian grades and the U.S. benchmark. The rail shipments could reach as much as 350…
The U.S. trade deficit increased more than expected in November as imports of goods surged to a record high amid strong domestic demand, making it likely that trade will subtract from economic growth in the fourth quarter. The Commerce Department said on Friday the trade gap widened 3…
Solar modules worth more than $150 million are stuck at various Indian ports due to a dispute over their classification and the import tax applicable to them, sources said, which could delay Prime Minister Narendra Modi's clean energy goals…
Trading house Trafigura has hired Dan Stirk, formerly a North Sea crude oil trader at commodity trader Noble Group, to join its crude desk, according to trading sources.Stirk started his new job this week, one of the sources said.He served as North Sea trader at Noble starting in July 2016…
Odfjell SE has appointed Harald Fotland as chief operations officer (COO), effective January 5, 2018. The Norwegian tanker shipping firm said it is introducing a COO function to ensure full integration between ship management and commercial operations…
Street crews in the U.S. Northeast raced through the night into Friday to clear snow-clogged streets after a powerful blizzard and restore power to homes ahead of a brutal cold spell that has killed more than a dozen people.From Baltimore to Caribou…
Shipments of limestone on the Great Lakes totaled 28 million tons in 2017, an increase of 6.4 percent compared to 2016, the Lake Carriers’ Association (LCA) reported. 2017’s loadings were also 2.1 percent above the trade’s five-year average…
The integration of RasGas with Qatargas will enable the world’s largest LNG exporter to save QR2bn ($550 million) a year, Qatar Petroleum (QP), the state-owned energy giant, announced. Saad Sherida Al-Kaabi, President & CEO of Qatar Petroleum…
NYK president Tadaaki Naito called for promoting environmental issues and the utilization of IoT. 'I hope to advance the group’s activities with a focus particularly on the keywords 'green' and 'digitalization' this year,' he said. 'We are already making progress in both fields…
The total number of passengers who travelled with Viking Line in 2017 was 6,881,149 (6,502,191) or nearly 6 per cent more than in 2016. That figure is the highest in Viking Line’s history. The number of cargo units was 127,668 (131,918) while the number of passenger cars was 762…
President & CEO of Mitsui O.S.K. Lines Junichiro Ikeda says that his company is strongly determined to shape the future of the industry. Looking at the shipping market, conditions were mixed across businesses, with firm conditions in dry bulkers but weaker trends in tankers…
DryShips, a diversified owner of ocean going cargo vessels, announced today that it has taken delivery of its fourth high specification very large gas carrier (VLGC) newbuilding. The VLGC will be employed under a fixed rate time charter…
Malaysian port operator Westports Holdings Berhad recorded FY17 container throughput of 9m TEUs which declined 10% YoY, in-line with our expectation of a poorer throughput outlook for the year. The decline was mainly due to drop in transhipment…
Oceaneering International, Inc. announced that its TerminalSmart platform can now be used to manage all liquid terminal product movements across the entire facility from the dock to tanks and pipelines. Proven at the dock where it has been…
Egypt's Suez Canal revenues rose to $5.3 bln in 2017 from $5 bln in 2016, a statement by the Canal authority said on Thursday.The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government's main sources of foreign currency…