Ports in both Houston and Corpus Christi, Texas, recorded mixed results in May, with increases in container shipping, but a decline in crude oil exports.
The Port of Corpus Christi, Texas, announced the completion of its $625 million, six-year ship channel expansion.
Container volumes rose 21% at Port Houston in May, while the Port of Corpus Christi, Texas, recorded a 9% increase in crude oil shipments.
Ports in New Orleans and Corpus Christi, Texas, recorded year-over-year increases in cargo volumes in February.
Ports in Houston and New Orleans recorded year-over-year increases in cargo volumes during January, while Corpus Christi, Texas, saw a slight decline.
Freight flows declined in Houston and Corpus Christi, Texas, in October, while container volumes rose at the Port of New Orleans.
Cargo volumes showed mixed results for Gulf Coast ports in September, with Houston reporting container declines, New Orleans seeing gains and Corpus Christi getting a boost from crude oil shipments.
Kent Britton was named as CEO of the Port of Corpus Christi on Wednesday after the previous chief executive abruptly resigned in May.
The International Energy Agency predicts Asia will buy growing volumes of U.S. crude through 2028. That’s good news for supertanker demand.
Mainstream tankers have moved into the Russian crude export trade. The price cap might push them back out again.
Crude production cuts are inherently bad for tanker shipping, but analysts are downplaying the fallout.
U.S. crude oil production
“Brent Blend” sounds like something Loretta Lynn’s forebears might have distilled in West Virginia.
Container, crude oil and petroleum shipments rose as ports in Houston and Corpus Christi recorded strong freight volumes in June.
Adjusted for inflation 1978 – 2022
energy trade between the U.S. and Mexico reached a nine-year high
The United States has imported a relatively small share of crude oil from Russia, but U.S. imports of petroleum products from Russia — namely, unfinished oils and fuel oil.
After declining in 2020, the combined production of U.S. fossil fuels increased by 2% in 2021
EIA forecasts global crude oil demand will exceed global supply through the end of the year.
Crude-tanker owners continue to pile up huge losses, but hopes are high for next year.
Cost of fuel consumed by container ships, bulkers and tankers is effectively at a seven-year high.
Hurricane Ida made landfall near Port Fourchon, Louisiana, as a Category 4 hurricane on Aug. 29
Establishment of Petroleum Administration for Defense Districts (PADDs)
Exports of liquefied natural gas, agricultural commodities and crude oil led the way during first half of 2021.
In 2020, five countries accounted for about 50% of the world’s total crude oil production
Analysts tally tanker fallout after OPEC+ stuns market with decision to hold the line of production cuts.
In Alaska, oil and politics (and logistics) mix. Big time.
An exclusive interview with Samir Madani, co-founder of TankerTrackers.com.
There’s still too much oil in the world and tankers are still filling up with the overflow.
Darren Prokop explores the reasons for the huge drop in oil prices and what the ramifications are because of the drop.
America had been on track to become the world’s largest propane exporter until Saudi Arabia opened its crude spigot.
The Canadian oil and natural gas producer cited falling crude prices as a reason for temporarily stopping crude shipments via rail.
Tanker rates are back in the stratosphere as the Saudis move ahead with production push.
USD Partners and Gibson Energy will begin construction of a unit in April that will produce a nonhazardous heavy crude product.
Here’s why tanker stocks are rising as the rest of the U.S. stock market is crashing.
Titanium Transportation opens second U.S. brokerage office, plus oil collapse pressures economy, traffic congestion costs Americans, and how many trucks can you stack on top of each other?
Manufacturing outlook: The coming week will be telling for the industrial segment. The Institute for Supply Management updated the Purchasing Managers’ Index (ISM.PMI). It breached the 50-expansion threshold in for two consecutive months. There may be some talks of a turnaround for the manufacturing segment. However, the numerous headwinds in the current macro-economy suggest that […]
Diesel fuel price outlook EIA statistics show total U.S. distillate production at the highest level ever for the second week of February despite significant concern over demand. Inventory reports were bearish. One other factor looming in the market: OPEC meets March 5-6. All models show it needs to cut further to balance markets, but it […]
Manufacturing outlook: The coming week will give some insights into the outlook for manufacturing activity in the Northeast region via the Empire State Manufacturing Index. The overall segment remains depressed and sustained rise is not expected through the first quarter. Construction outlook: There will be updates for housing and construction from housing starts, building permits, […]
Tender rejections: Looking into the week, we expect the capacity to continue to loosen as volumes remain at midwinter levels. Occasional surges in demand are not unheard of in February, but they are unlikely to have much impact on capacity. Carriers who operate in California and around the ports need to start thinking about the […]
Diesel fuel price outlook The rack-to-retail spread has widened to more than $1.10/gallon, creating an unearned windfall for trucking carriers. Diesel markets have been sliding in part on an overall decline in oil since the start of the year, but retail is slow to follow. Diesel itself has fallen farther than crude, primarily on fears […]
Brent and WTI refer to indexes that measure the price of oil
Accident in Saskatchewan causes 1.5 million-liter crude oil spill.
Canadian province will allow producers to exceed limits exclusively for rail shipments to meet higher demand.
Reports have been surfacing that the Alberta government could grant more crude-by-rail contracts.
For a window on future demand for U.S. crude oil, look to international markets, as ever-more U.S. volumes head to sea.
VLCC rates are now at or near $100,000 per day, courtesy of U.S. sanctions targeting China’s COSCO.
FIATA warns that higher air, ocean and trucking fuels costs will be passed directly on to customers.
The drone attacks in Saudi Arabia are reverberating across the ocean shipping business. Part II: the impacts on the crude tanker segment.
The price of diesel fuel has an obvious impact on transportation providers costs, but it also can give insight into demand for their services.
U.S. production increased 21 percent year-over-year to 898,000 barrels/day.
As with product tanker rates, crude tanker rates show no sign yet of upside from IMO 2020 preparations.
Long before sunrise, Molly Sizer starts her day in West Texas as a professional frac sand hauler. She gets dressed, drives her Peterbilt truck to one of the dozens of frac mines around the Permian Basin, is loaded with 50,000 pounds of sand, drives 100 miles or more through crowded bumpy roads and finally delivers […]
Tank barges plying U.S. rivers are seeing higher rates as more petroleum is shipped.
This week, VLCC rates are going sideways, Capesize rates have reversed, and container shipping has yet to gain traction.
The already dicey relationship between the U.S. and China could get even dicier after a new sanctions decision.
Geopolitical risks are escalating, increasing the risk for petroleum shipments transiting the Strait of Hormuz.
If U.S. crude output were to lose momentum, it would be felt by tanker owners much more so than before.
Peak oil demand “lurks like a monster in the shadows,” warns Stifel analyst Ben Nolan.
Port Corpus Christi could emerge as the United States’ top crude oil export hub over the next decade, thanks to more than $380 million in new shipping facilities and three oil pipeline projects worth $5.2 billion, according to a new study. Wood Mackenzie’s North America Crude Markets Service reported that the startup of three new […]
Geopolitical and trade tensions are having an increasing effect on shipping rates.
Middle East tanker attacks could spur oil importers to bring forward purchases, increasing shipping demand.
Is a recovery near for VLCC crude tanker spot rates? Not yet, warns an an analyst at VesselsValue.
If a trade war pares GDP growth, OPEC cuts may be extended, weighing tanker rates.
NYSE-listed Diamond S Shipping brings an experienced management team back into the public arena.
Shipping’s ‘trade war’ equation is not measured in tons at sea, it’s measured in tons times miles at sea.
There are reasons to be optimistic about rates in both the crude and product tanker sectors – and INSW’s fleet spans both categories.
Crude tanker owner DHT Holdings believes the stage is now set for a pronounced upswing in rates.
Tanker companies like Euronav expect to see financial benefits from impending environmental regulations, which will change the type of fuel burned at sea and could eventually limit how fast ships can go.
Your weekly snapshot of how the markets are doing.
Lower WTI prices mean slower pipeline construction and more pressure on crude-by-truck.
Gig economy companies contend with Supreme Court ruling that mandates full time workers to be considered as employees and not contractors; oil supply reduces after Saudi Arabia’s drastic production cut; government shutdown strains supply chains across the country.
Crude oil crashes; FedEx slashes profit forecasts; Musk unveils Boring Company’s first tunnel; container and petroleum exporters fight at Port of Houston; Fed expected to make a ‘dovish hike’ today.
Oil prices fall on the back of a possible supply glut; highly populated cities are fighting back to regulate traffic during peak hours; U.S. companies are finding it hard to continue working in Iran after the now-in-effect trade sanctions.
Will fundamental policy changes happen over the next two years leading up to the general election regardless of which party wins out?
West Coast ports post strongest volumes ever; Norfolk Southern is moving to Atlanta; flatbed tender rejections stay down; expect electric trucks in 2020; pregnant XPO Logistics warehouse workers suffer miscarriages; E2open buys Inttra; Iraq produces more oil but can’t rebuild.
We break 2018’s crude oil production down by state and month.
Iran’s truckers are on strike in 100 cities for the second time this year, causing fuel shortages. Meanwhile, the Iranian rial is rapidly losing its value, and the country’s biggest crude oil customers are cutting it off.
A prolonged bear market for crude oil tankers have resulted in the deletion of triple the number of ships sold for scrap, compared to last year.
We see falling demand for oil, lumber, and wheat out of Canada in the future due to a combination of market forces. Canadian Pacific Railroad appears to be especially exposed to this freight recession.
The U.S. has now risen to the top of the oil production list by extracting 10.9 million barrels per day (bpd) in August, but it needs to urgently address the pipeline bottlenecks across the Permian Basin to hold on to its numero uno status.
In an attempt to ease Permian bottlenecks, Vista Proppants has partnered with JupiterMLP to transload crude oil from truck to rail at Vista’s Pecos, Texas facility to launch a new crude-by-rail facility.
Ships becoming increasingly electrified, US retail is rising, and crude oil exports to China have come to a halt.
The acquisition will make Pilot Flying J one of the largest third-party crude hauling fleets in the country.
Canadian Pacific conductors and engineers walk off; Brazilian truckers continue their highway shutdown; CMA CGM and Zim blame losses on fuel prices; Savannah hits record TEU volumes in April; Goldman Sachs says the oil rally isn’t over yet.
