oil shipping

Port of Corpus Christi promotes interim CEO to permanent role

After three months as interim CEO for the Port of Corpus Christi, Kent Britton will take on the role permanently.

Britton’s appointment comes four months after chief executive Sean Strawbridge resigned amid questions about his business expenses.

The Port of Corpus Christi Commission voted in a special meeting Wednesday to promote Britton, who has served as interim CEO since June, to the position full time.

“The Port of Corpus Christi is an incredible asset to the Coastal Bend region, and I am...

https://www.freightwaves.com/news/port-of-corpus-christi-promotes-interim-ceo-to-permanent-role

FreightWaves Classics: Crowley Maritime Corporation… from a single rowboat to a global leader

A Crowley articulated tug barge moves across San Francisco Bay with the Golden Gate Bridge in the background. (Photo: Crowley)

On the Crowley Maritime Corporation website is a statement by Thomas Crowley, Jr., the company’s Chairman and CEO: “In 1892, my grandfather, Thomas Crowley, bought a Whitehall rowboat and went into business for himself shuttling personnel and supplies between the San Francisco waterfront and the tall sailing ships that would anchor in San Francisco Bay. From these humble beginnings grew the company we know today as Crowley Maritime Corporation.”

The company’s describes itself as: “Crowley is a...

https://www.freightwaves.com/news/freightwaves-classics-crowley-maritime-corporation-from-a-single-rowboat-to-a-global-leader

GSCW chat recap: Bob McDowell and John Esparza

This fireside chat recap is from Day 5 of FreightWaves Global Supply Chain Week. Day 5 focuses on energy, mining and chemicals.

FIRESIDE CHAT TOPIC: The highs and lows of trucking in the oil patch

DETAILS: Along with the pandemic came a drop in oil prices. Since the U.S. oil patch has long been heavily dependent on debt to keep operating, it meant that there was going to be a significant squeeze on companies, especially trucking companies that haul oil, equipment, frac sand and other products...

https://www.freightwaves.com/news/gscw-chat-recap-bob-mcdowell-and-john-esparza

Tanker recovery still distant prospect after Saudi surprise

crude tankers

“It feels a bit like someone stole our clothes while we were enjoying a swim,” mused the analyst team at Fearnleys. They were quoting a political saying and referring to what just went down in the tanker market.

For very large crude carriers (VLCCs, tankers that carry 2 million barrels of crude), 2021 started out “with hope in the air,” said Fearnleys. Crude-tanker stocks including Euronav (NYSE: EURN) and Frontline (NYSE: FRO) rose on the first few trading days of the year. “Tanker stocks...

https://s29755.pcdn.co/news/tanker-recovery-still-distant-prospect-after-saudi-surprise

How Panama Canal navigated COVID, drought and trade war

panama canal

The Panama Canal debuted a $5-billion-plus set of larger locks in 2016, only months before a trade war broke out between the U.S. and China — the waterway’s two largest transit sources. The canal, which relies on water availability, suffered one its worst droughts ever in 2019. And then came the coronavirus. Carriers slashed Asia-East Coast services transiting the canal in the second quarter of 2020. In the third quarter, U.S. importers flocked to Asia-West Coast services boasting faster...

https://www.freightwaves.com/news/how-panama-canal-navigated-covid-drought-and-trade-war