Logistics News

The global oil market is focused on the fallout from the halt of the East-West pipeline, which was the primary link that helped Saudi Arabia to circumvent the turmoil in Hormuz.

Retail sales rose 1.2% last month after recording a revised 0.5% dip in July, according to Commerce Department data released Sept 16.

Canada is seeking to reduce its dependence on the United States, the destination for roughly 70% of its exports, and Prime Minister Mark Carney has called for a “unique alliance” with the EU.

A company linked to Grupo Traxion Executive President Aby Lijtszain Chernizky plans to launch a tender offer for as much as 100% of the Mexican logistics company’s shares.

David Yeager returned to the company as chairman and CEO, and Patrick O’Donnell has joined the company as a special adviser and chief financial officer-elect.

Brent crude gained 2.3% to $108.12 a barrel. Prices for Brent and U.S. benchmark crude are up more than 50% since the Iran conflict began in late February.

The meetings between the two sides are also likely to result in an agreement to lower duties on Chinese inputs for manufacturers. 

Tom McLeod said the industry is riding a rate rebound driven by the winnowing of excess hauling capacity that had contributed to a four-year rate recession.

The jump in flows comes just as oil prices are soaring again after drone strikes shut down Saudi Arabia’s East-West pipeline.

Disruptions in the Red Sea and Strait of Hormuz have benefited the container shipping industry by tying up vessel capacity and tipping the supply-demand balance in favor of shipowners.