Author: omc_admin
The Trump Administration created more uncertainty for the shipping industry with its order this week that companies shipping goods to China must seek export licences. Chinese purchases of US ethane, a key petrochemical feedstock, are under a cloud of doubt after the Commerce Department told exporters to seek licences to export to China, according to trade sources and shipping data. Washington ordered a broad swathe of companies to stop shipping goods, including ethane and butane, to China without a licence and revoked licences already granted to some suppliers, Reuters reported on Wednesday. ALSO SEE: Trump’s Tariffs Reinstated as Appeals…
Global oil demand improved from the previous week, driven by a rebound in U.S. oil consumption, bolstered by robust Memorial Day travel activities. That’s what analysts at J.P. Morgan stated in a research note sent to Rigzone by the JPM Commodities Research team late Thursday, adding that, as of May 28, “the monthly expansion in global oil demand is tracking at approximately 400,000 barrels per day”. The analysts outlined in the note, however, that this expansion remains 250,000 barrels per day below their expectations. “Consistent with our projections, global oil demand increased over the past week, reflecting heightened U.S. demand…
At 11:40 GMT, Light Crude Oil Futures are trading $61.70, up $0.76 or +1.25%. OPEC+ Output Hike Anticipated but Priced In Brent and WTI contracts were on track for a second consecutive weekly loss, each down approximately 0.5%, as traders priced in the likelihood of another OPEC+ output hike. Market sentiment was dampened by media reports suggesting several delegates had already backed a production boost, potentially exceeding the prior 411,000 bpd increases seen at the last two meetings. Commerzbank analysts noted that this anticipation has likely dulled any significant impact the official announcement might have. JPMorgan analysts added that a…
The RSK businesses have been appointed by United Living Group. United Living said that the facility will be instrumental in enabling the landmark HyNet CO2 pipeline, which aims to unlock a low carbon economy for North West England and North Wales. The pipeline will be the first step in unlocking the benefits and ambitions of the wider HyNet North West project and achieving the UK’s net zero target by 2050. The project comprises 34 km of new pipeline (with the additional repurposing of an existing 24 km) running from Ince, Cheshire, near RSK’s head office at Helsby, to…
More trucks are running half-empty on U.S. roads, a new study from Flock Freight and Drive Research shows. The companies released the 2025 edition of their annual shipper survey this week, pointing to growing inefficiencies in the trucking market. What’s RelatedThe study found that 58 percent of truckloads moved with empty trailer space in 2024, up from 43 percent the year before. The average underloaded truck left about 34 linear feet of space unused, meaning every third truck on the road was essentially running empty. “We’re seeing more half-empty trucks on the road than ever before, a result of a…
SPRINGFIELD, Ky. (AP) — The National Weather Service issued tornado warnings for parts of Kentucky, Tennessee, West Virginia and Virginia on Friday, hours after a harsh storm hit a remote area of central Kentucky, killing one person and injuring seven others.In Kentucky, Washington County Judge-executive Timothy Graves said two or three houses were destroyed and downed trees temporarily blocked roads. “We were fortunate this was located in a remote part of the county,” Graves said. Debris and heavy damage are seen from severe weather, Friday, May 30, 2025, in Springfield, Ky. (AP Photo/Michael Swensen) Debris and heavy damage are seen…
The climate impact of Donald Trump’s geopolitical ambitions could deepen planetary catastrophe, triggering a global military buildup that accelerates greenhouse gas emissions, a leading expert has warned.The Pentagon – the US armed forces and Department of Defense (DoD) agencies – is the world’s largest institutional greenhouse gas emitter, accounting for at least 1% of total US emissions annually, according to analysis by Neta Crawford, co-founder of the Costs of War project at Brown University.Over the past five decades, US military emissions have waxed and waned with its geopolitical fears and ambitions. In 2023, the Pentagon’s operations and installations generated about…
The deadline to submit speaker abstracts or award applications for the 2025 NextGen Supply Chain Conference is fast approaching. To accommodate the large interest we have received from those seeking to speak or apply for awards, we are extending the deadline for both speaker abstracts and award submissions one week to allow everyone the chance to be considered. All applications must be submitted by the end of the regular business day on Friday, June 6. To submit an award application: https://www.nextgensupplychainconference.com/awards/ To submit a speaker abstract: https://www.nextgensupplychainconference.com/speakers/ The 2025 NextGen Supply Chain Conference will be held from Oct. 22-24, 2025, at the W Hotel in Nashville, Tennessee. As…
Robert Tuttle and Brian K. Sullivan, Bloomberg May 29, 2025 (Bloomberg) — Wildfires are threatening about 5% of Canada’s crude output as a blaze in Alberta’s oil sands region spreads and approaches major production sites. Canada’s oil sands A total of 26 out-of-control fires are burning in the province amid hot, dry weather, bringing flames within 20 kilometers (12 miles) of about 245,000 bopd production, according to data from Alberta’s energy regulator and wildfire department. The province had only four out-of-control fires on Monday. A blaze near Cold Lake, along Alberta’s eastern…
India is exporting more diesel on the east of Suez route into Southeast Asia in May, with shipments to the region on track for a four-year high, Reuters reported on Friday, quoting vessel-tracking data and trade sources.India is estimated to have shipped 600,000 metric tons, or 4.47 million barrels in total, to Southeast Asia in May, according to data from tanker-tracking services Vortexa, LSEG, and Kpler.This is the highest such volume since 2021, as higher margins and lower shipping costs support more volumes heading east of India instead of to the European market.India’s diesel exports to Europe, on the other…