Business, Equipment

Record Ocean Shipping Costs Add to Auto Industry’s Supply Chain Woes

The car industry, already grappling with a shortage of semiconductors, is now seeing another source of supply chain concern: a lack of ships.

Alex Longley | Bloomberg News
September 21, 2022
Government, Business, Fuel

Oil Pares Gains as US Comments Counter Signs of Strong Market

West Texas Intermediate pared earlier gains after U.S. Energy Secretary Jennifer Granholm told MSNBC that President Joe Biden may make an announcement to address high oil and gasoline prices this week.

Alex Longley | Bloomberg News
November 8, 2021
Business, Logistics

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

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

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

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

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

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

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

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

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

Alex Longley | Bloomberg News
May 7, 2020