Trucking companies across the country have experienced a rough first half of 2019. Coming off a profitable and robust 2018, the transportation industry has taken a one step forward, two steps back, which is causing many trucking companies to shutter their doors and leave thousands of drivers unemployed. There are many factors that have led […]
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With an attempt to boost the shipbuilding industry in the U.S., the Energizing American Shipbuilding Act has been reintroduced with bipartisan support. It is being supported by Senator John Wicker (R-Mississippi) and Congressman John Garimendi (D-California). This act would require 15 percent of liquefied natural gas (LNG) exports be moved by U.S. crewed and built […]
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As we head into the month of August, the New York Mercantile Exchange front month futures shifts to September. When we think of September we think of the fall and the seasonal changes to gasoline specifications. While the price spread between the expiring August contract (summer grade) and the October contract (reflecting higher reid vapor […]
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Oil prices rose Tuesday to two week highs as traders prepare for tomorrow’s forecasted cut in interest rates by the U.S. Federal Reserve and a crude oil draw in the Department of Energy weekly inventory report.
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Over the weekend there was a sizable oil spill off Guarello Island near Chile. The 40,000 liter spill was reported to the Chilean Navy on Saturday, July 27th by the Chilean mining company, CAP. The navy dispatched a pollution response and control team immediately in attempt to contain the spill. By the next day, they […]
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Halliburton Co. announced this week that it has cut eight percent of its North American workforce as a response to a slump in demand for hydraulic fracturing and have removed unused fracking equipment in the United States and Canada. The Houston-based contractor and world’s biggest provider of fracking equipment made the decision to downsize personnel […]
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Who is Boris Johnson and why should we care?
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Within the last year, we have witnessed very tight truck capacity. Shippers have engaged the Spot Market to find scarce capacity at budget straining prices. The absence of transparency in the market, along with sourcing and pricing, also results in a lack of operational flexibility which leads new market opportunity service failure. With the technology […]
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Back in December of 2016, the United States lifted its crude oil export restrictions. This new source of seaborne cargo, changed the global tanker industry. This adjustment intensified operators focus on U.S. crude ever since. With the recent renewed sanctions targeting Iran and rising geopolitical tensions near the Strait of Hormuz. However, with the rising […]
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The latest episode from Iran revolves around an Iranian drone that was destroyed by a U.S. Navy ship in the Strait of Hormuz. According to the U.S. Navy, the drone had flown within 1,000 yards of the USS Boxer and had ignored “multiple calls to stand down.” The end result, the drone was immediately obliterated. […]
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