European natural gas futures spiked almost 7% Monday on fears that low river levels will choke the transport of key fuel supplies. Spot power prices also surged on forecasts of lower wind and nuclear generation.
Global oil supply could rise if Iran and the U.S. accept an offer from the EU to remove sanctions on Iranian oil exports.
South Africa’s largest coal exporter is looking to expand after first-half profit surged on record-high fuel prices.
Freight demand across the U.S. is showing signs of softening heading into peak shipping season, with the closely watched Cass Freight Index declining 1.7% from June to July, the second monthly decline in a row.
The container ship backup at the ports of Los Angeles and Long Beach fell to an all-time low of nine vessels last week, down from a record high of 109 set in January. Container rates from Asia to the West Coast are down 11% this week.
U.S. ports are projected to import 12.8 million TEUs in the second half of 2022, down 1.5% from last year and about 5% below the first half of this year, according to Global Port Tracker.
More communities in California’s Inland Empire, the key logistics hub east of Los Angeles, are suspending new warehousing projects over pollution fears even as demand hits all-time highs.
Supply chain issues will be the major contributor to a decline in e-commerce revenues in 2022, according to new projections:
A White House pilot project to share freight data among shippers has doubled in size to 36 members since its launch in March, adding momentum to the government’s push for visibility across the U.S. supply chain.
Air cargo volumes fell 9% year over year in July as a shift back to ocean transport weighed on demand.
Australia’s Qantas Airways plans to add six Airbus converted freighters to its domestic fleet to replace aging Boeing 737s and expand cargo-carrying capacity.
Second-quarter volumes at BNSF Railway fell 6%, but higher pricing boosted revenue 14% to $6.6 billion.
Shipper United Heavy Lift says ships in its project transport sector are almost fully booked for 2023 on strong demand from the oil and gas industry.
Ship broker Clarkson’s first-half profit rose by half to about $50 million on improved conditions for its oil rig-supplying clients, the firm said.
Trade between Ireland and the U.K. climbed 54% in the first half of this year despite ongoing disputes over checks on goods resulting from Brexit.
BHP Group, the world’s largest mining company by market value, saw annual profit nearly triple to almost $40 billion as it benefited from the sale of its petroleum business and strong commodity prices. The firm forecasts demand for copper will double in the next three decades, boosting the bulk shipping industry that carries the raw materials.
Apple set a Sept. 5 deadline for corporate employees to be in the office at least three days a week, marking its latest policy change after spikes in COVID-19 delayed return-to-office plans several times.
Two years of pandemic burnout has created one of the U.S.’s worst teacher shortages ever, as states and local governments scramble to boost incentives and fill vacancies.
Consumer prices at grocery stores rose at almost twice the rate of restaurant prices in July, bolstering claims that fast-food chains and sit-down restaurants provide greater value in the current inflationary environment.
A gauge of U.S. homebuilder sentiment fell for an eighth month in August, marking the worst stretch since the housing market collapsed in 2007.
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