The U.S. Department of Interior (DOI) announced its draft plan in January to lease 14 different offshore areas for oil and gas drilling, including areas in the Gulf of Mexico, Alaskan coast and Atlantic Ocean, in an effort to promote the U.S.’s domestic energy resources as a fundamental element to supporting American jobs and minimizing the nation’s dependency on foreign oil. However, the prospect of offshore drilling in the Atlantic …
Theodore Ntalakos, Newbuildings and SnP Broker at Intermodal explain why the maritime industry must continue looking forward despite the current, worrying issues with the market..
As it enters the final stretch of a massive expansion, the Panama Canal Authority is setting its sights on an even more ambitious project worth up to $17 billion that would allow it to handle the world’s biggest ships.
Oil jumped about 5 percent on Thursday, the biggest daily gain in a month, as air strikes in Yemen by Saudi Arabia and its Gulf Arab allies sparked fears that escalation of the Middle East battle could disrupt world crude supplies.
Military intervention by Saudi Arabia in the conflict in Yemen is ringing alarm bells around the Middle East and the world.
