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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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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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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If the quote “the trend is your friend” isn’t the true narrative of the energy complex over the past 20 trading days, I’m not sure what other phrase may be used to depict exactly what we have witnessed. WTI crude for August delivery has had a 20.15% rally from its lows on June 12th to […]
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Philadelphia Energy Solutions (PES) announced the closing of their doors a couple of weeks ago, but there was, and still is, a lot of uncertainty for what that means for the future of the union workers and the physical plant itself. PES recently announced its commitment to extend pay for union workers through August 25th, […]
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Kentucky Trucking Association President, Rick Taylor is one of many Kentuckians who feel there is work to be done in many of the freight corridors in the state. On June 25th, the Kentucky Transportation Cabinet unveiled a list of projects that will be considered for 2020. According to Eleanor Lamb of Transport Topics, this list […]
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