Alex Longley

Business, Logistics

Container Crisis Gets So Bad, Coca-Cola Switches to Bulk Freight

A worker restocks a display of Coca-Cola Co. soft drinks at a store in Orem, Utah. A worker restocks a display of Coca-Cola Co. soft drinks at a store in Orem, Utah. (George Frey/Bloomberg News)

The cost of shipping stuff in containers has gotten so out of hand that Coca-Cola Co. is switching its cargoes to vessels that are normally only used by industrial commodity traders to help keep its business running.

Alex Longley | Bloomberg News
October 5, 2021
Business, Logistics

Ship Owner Says Commodity Freight Rates Close to Going Parabolic

Ship Owner Says Commodity Freight Rates Close to Going Parabolic Port Jersey Marine Terminal. (Craig Warga/Bloomberg)

An owner of commodity hauling freighters said rates for the ships are close to the point of spiking sharply higher and mirroring an unprecedented surge in costs for transporting manufactured goods.

Alex Longley | Bloomberg News
September 16, 2021
Business, Technology, Equipment, Logistics

The World’s Shippers Are Earning the Most Money Since 2008

Containership A containership headed toward the Port of Savannah. (Peggy Smith/Transport Topics)

The global shipping industry is getting its biggest payday since 2008 as the combination of booming demand for goods and a global supply chain that’s collapsing under the weight of COVID-19 drives freight prices ever higher.

Alex Longley | Bloomberg News
September 13, 2021
Government, Business, Fuel

Giant Oil Tankers Are Losing Almost $7,000 a Day Amid OPEC Cuts

An oil and chemical tanker sits at the Port of Corpus Christi in Texas on Feb. 19. (Eddie Seal/Bloomberg News) An oil and chemical tanker sits at the Port of Corpus Christi in Texas on Feb. 19. (Eddie Seal/Bloomberg News)

Times are getting tougher by the day for oil tanker owners.

Alex Longley | Bloomberg News
March 9, 2021
Government, Business, Fuel

Oil Tanker Owners Pay to Move Crude in Wake of Supply Cuts

Iranian oil tanker Grace 1 sits anchored off the Strait of Gibraltar in July 2019. (Marcelo del Pozo/Bloomberg News)

Saudi Arabia’s oil production cuts have hit the tanker market so hard that owners of the biggest vessels are effectively subsidizing cargo deliveries on the industry’s main trade route.

Alex Longley | Bloomberg News
January 20, 2021
Government, Business, Fuel

Oil Slumps Below $39 on Surging Virus and Libya Restart

A pump jack operates near Stratford, Texas, on Sept. 26. A pump jack operates near Stratford, Texas, on Sept. 26. (Angus Mordant/Bloomberg News)

Oil extended its slide to a second day on a cocktail of surging coronavirus cases in the U.S. and Europe, dwindling prospects for pre-election stimulus in Washington and a steady resumption of supply from Libya.

Alex Longley | Bloomberg News
October 26, 2020
Government, Business, Fuel

Oil Drops for Third Day Before OPEC+ Reviews Easing Output Cuts

An employee walks down stairs at the Armada gas condensate platform. (Simon Dawson/Bloomberg News)

Oil fell below $42 a barrel in New York as OPEC+ gathered to assess its supply deal, with countries struggling to contain the virus that has hurt economies and fuel demand globally.

Alex Longley | Bloomberg News
August 17, 2020
Government, Business, Fuel

Oil Jumps After Saudi Arabia Raises Prices to Boost Recovery

Saudi Arabia raised its selling price for oil, boosting the global price. Abdulaziz bin Salman, Saudi Arabia's energy minister, arrives in Vienna, Austria, ahead of the 177th OPEC meeting in December 2019. (Stefan Wermuth/Bloomberg News)

Oil surged after Saudi Arabia raised prices for its crude globally.

Alex Longley | Bloomberg News
May 7, 2020
Government, Business, Fuel

Projections Show World Could Run Out of Places to Store Oil

Oil tanker trucks sit parked beside storage silos in Germany in June 2019. Oil tanker trucks sit parked beside storage silos in Germany in June 2019. (Alex Kraus/Bloomberg News)

The world will run out of places to store oil in as little as three months, according to an industry consultant.

Alex Longley | Bloomberg News
March 26, 2020
Business, Fuel

Contango in Full Swing for Crude Oil Market

An offshore oil platform. (Ali Mohammadi/Bloomberg News)

Oil tankers are starting to drop anchor as traders start deploying the vessels to keep barrels at sea in the wake of the price plunge.

Alex Longley | Bloomberg News
March 19, 2020

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