Urban Outfitters seeks material cost visibility from expanded technology suite
The parent of several retail brands is tacking on additional features to its current production lifecycle management platform to improve supply chain efficiency.
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The parent of several retail brands is tacking on additional features to its current production lifecycle management platform to improve supply chain efficiency.
The computer peripheral manufacturer’s Chain Reaction initiative will start with 17 suppliers pooling purchasing power to collectively buy renewable electricity.
Two oil tankers and a tugboat caught fire in the Strait of Hormuz, Iran’s Islamic Revolutionary Guard Corps (IRGC) said on Thursday, as Iran continues to report a growing number of incidents with vessels trying to transit the Strait on routes unauthorized by the Islamic Republic. One of the oil tankers hit a naval min…
British energy major BP has raised about $1.06bn by selling part of its stake in Norwegian oil and gas producer Aker BP as it continues efforts to strengthen its balance sheet. The company sold 31.6m shares, representing around 5% of Aker BP’s total issued share capital, for NOK311 per share. The transaction generated…
The container shipping industry’s long detour around southern Africa is rapidly coming to an end, with Taiwan’s Evergreen preparing to send its first ships through the Suez Canal after almost three years of avoiding the Red Sea. According to liner consultancy Linerlytica, Evergreen will deploy the 16,556 teu Ever Eon …
A majority of European Union citizens are in favor of an accelerated transition away from oil and gas and into alternative energy sources and transport electrification, a survey conducted by the European Investment Bank has shown, as reported by Reuters, which got an exclusive look at the survey. According to the surv…
Maersk has raised its full-year earnings guidance for the third time this year, with the Danish shipping giant continuing to benefit from extraordinary freight rates, resilient cargo demand and widespread supply chain disruption. The Copenhagen-headquartered group now expects underlying EBITDA of between $14bn and $14…
The United Arab Emirates currently operates one crude export pipeline that bypasses the Strait of Hormuz and announced earlier this year that it was building a second. A third pipeline is reportedly being planned to further expand crude capacity and reroute energy flows around Hormuz, reducing exposure to Iranian disr…
Stakeholders such as the World Shipping Council and the National Retail Federation are concerned fees will “add another cost layer to an already strained transportation system.”
The transpacific has become the most lucrative major container shipping trade in the world, with carriers generating five times more spot revenue per nautical mile on the Shanghai–Los Angeles route than on shipments to North Europe via the Cape of Good Hope. New analysis from Alphaliner shows that the extraordinary st…
The Energy Department’s Battery Manufacturing Accelerator aims to plug gaps in domestic material and component supplies over the next few years as U.S. battery demand looks set to quadruple.
Anduril is assembling the circuit board and partnering with Qualcomm for the chip that powers the BlueChip line while looking for domestic suppliers for other parts.
Idan Ofer’s Eastern Pacific Shipping (EPS) has been linked to an order for four midsize containerships at Japan’s Imabari Shipbuilding, marking a rare Japanese addition to its extensive newbuilding programme. Shipbuilding sources have identified the Singapore-based owner as the buyer of the quartet, which would take i…
Cameroon’s Gulfcam is pursuing plans to acquire six vessels to expand its coastal container shipping operations between Kribi and Douala, with a former Camship executive taking charge of the business. Bernard André Ndengue took over as chief executive on November 1, replacing Albert Roger Boum, who stepped down last m…
Four oil tankers were destroyed after hitting naval mines in an area south of the Strait of Hormuz proscribed by Iran as prohibited for navigation, Iran’s Islamic Revolutionary Guard Corps (IRGC) said on Wednesday, as attacks on vessels in the region intensify while crude oil flows have dipped from recent highs. The f…
China’s property construction collapse has taken new building starts back to levels last seen in 2002, raising fresh questions about the long-term outlook for iron ore and coking coal demand, even as dry bulk owners become increasingly bullish about freight markets. Research published today by Ursa Shipbrokers reveals…
Singapore-listed Samudera Shipping Line has ordered two containerships in China, adding 6,000 teu of capacity to its newbuilding pipeline. The Indonesian-controlled carrier disclosed in a filing that it had signed shipbuilding contracts with Jiangsu New Yangzi Shipbuilding and Jiangsu Yangzi-Mitsui Shipbuilding, both …
Taiwanese liner operator TS Lines has returned to Shanghai Waigaoqiao Shipbuilding (SWS) for another pair of containerships in a deal worth $246m. The Hong Kong-listed carrier has contracted two 11,000 teu vessels at the CSSC-controlled yard, together with China Shipbuilding Trading, paying $123m apiece. The ships are…
China-Central Asia Monitor
Kazakhstan revising expectations
The curve of the Dubai benchmark is showing signs that rising oil flows from the Middle East are exceeding demand for the first time since early July, when the three-week U.S.-Iran ceasefire allowed millions of barrels to leave unhindered the Strait of Hormuz. Physical flows have been gradually rising for the past two…
Uncertainty has led shippers to move an increased amount of inventory across inland markets versus port markets, according to experts, but it may not necessarily translate to a shift in demand.
Saudi Aramco beat analyst estimates of its third-quarter profit as higher crude oil and fuel prices offset the impact of oil supply disruptions due to attacks on its assets. The Saudi state oil giant on Tuesday reported an adjusted net income of $31.2 billion for the third quarter, up from $28.6 billion for the same p…
German shipowner Ernst Russ has sold another feeder containership, continuing to trim its older boxship exposure while building up its tanker and multipurpose fleet. The Frankfurt-listed company has confirmed the sale of the 2007-built, 803 teu Mirror, without disclosing the buyer and price. The vessel is expected to …
Greek feeder containership owner Contships Logistics has secured two new charter deals with CMA CGM and Ocean Network Express (ONE), adding contracted employment as it prepares for an extensive fleet renewal programme. The Nikolas Pateras-led company disclosed in its third-quarter earnings report that the Contship Sky…
A surprisingly wet October has brought much-needed relief to the Panama Canal, with Gatun Lake recovering to near its historical average despite warnings that a powerful El Niño could trigger another prolonged drought. New research from Ursa Shipbrokers, drawing on Panama Canal Authority data, shows Gatun Lake average…
Astana gets shout-out for reviving Northern Aral Sea.
A sanctioned Iranian tanker carrying about 500,000 barrels of liquefied petroleum gas slipped past the U.S. naval blockade and delivered its cargo to China, according to United Against Nuclear Iran (UANI), which says it filmed the ship at a Malaysian anchorage along the way. Tanker laden with Iranian LPG transiting th…
Sunday saw another vessel attacked in Persian Gulf regional waters. The UK Maritime Trade Operations agency (UKMTO) reported that a ship was struck by two projectiles some 83 miles east of Ras al-Khafji, which is the Saudi town on the Kuwaiti border in the northern Persian Gulf. Significantly and unusually, this parti…
TURKEY: Şanlıurfa municipality has let a contract to construct the first phase of the city’s future light rail system to a consortium of Sigma İnşaat, Emreray Enerji and Vestan İnşaat. The consortium submitted a winning bid of TL3.39bn, the lowest of seven bids received. Phase 1 involves construction of a 14 km north-…