In spite of the delivery of new bulk carriers ordered during the shipping golden age, dry shippers bulk freight rates are rising due to Chinese iron ore purchases. The shipowners are back on the bulk carriers spot market to meet
Prices for gasoline on the New York Mercantile Exchange have fallen roughly 11% in September as supplies reached their highest level in three years and the peak summer driving season ended. Technology allowing companies to retrieve oil from shale-rock formations
The Baltic Dry Index, a benchmark of commodity shipping rates, jumped 9.3 percent to 1,478 on Monday, the biggest gain since June 2009, according to the Baltic Exchange, the London-based publisher of freight rates on more than 50 trade routes.
U.S. gasoline prices jumped 6% in February, and market experts predict they will climb higher because critical refining operations in the Northeast are shutting down. From New York to Philadelphia, refineries that turn oil into gasoline have been idled or
Using natural gas could cut fuel costs by more than $20,000 for a truck traveling a typical long-haul distance of 100,000 miles (161,000 kilometers) a year, according to JMP Securities LLC’s Shawn Severson. Shares in Clean Energy and Westport are
The cost of moving a loaded forty-foot steel box to the West Coast from China was last at $1,824, from $1,418 on Dec. 16, Clarkson data show. That’s still 5.6 percent lower than a year ago after a capacity glut drove
The Baltic Dry Index – an index of global freight rates for shipping dry commodities such as iron ore, coal and grain – had fallen for 23 consecutive days as of last Friday, cutting its value in half in the
Rates will remain below about $11,000 a day for the rest of the year, compared with a breakeven point of about $23,000, according to Johnson Leung, head of regional transport at Jefferies Group Inc. in Hong Kong.
Retail prices for a gallon of regular-grade gasoline will average $3.86 from April through September, up from $2.76 for the comparable period last year, said the Energy Information Administration, the statistics arm of the Department of Energy. In some areas,
Supertanker owners are coping with the second-highest fuel costs on record by sailing ships at the slowest speeds in at least three years, reducing vessel supply and bolstering charter rates. An empty supertanker burns about 90 metric tons of fuel,