Melting Arctic a Boon for Energy Trade
Melting ice caps may not be all bad. As the Arctic Circle becomes more navigable, more ships are able to travail the region, taking less time than icebreakers to deliver their products. Still, environmentalists worry that more ships passing through the region could emit more black carbon, causing the ice caps to darken and absorb heat even faster. The International Maritime Organization is studying the situation to determine whether heavy fuel oils should be banned in the Arctic. Click Here to read more from World Oil.
The Future of Smart Trailer Technology
Last week, Mansfield’s DeliveryONE Network of suppliers and carriers joined together to discuss major industry trends, including smarter vehicles and digital solutions. John Kingston, Executive Editor of FreightWaves, shared insights on how those trends will impact the fuel industry. Those trends will also impact the broader transportation industry. With strong demand chasing fewer drivers, digital innovation will be crucial to remaining competitive. Click Here to read more from FreightWaves.
30% of Maritime Oil Flows through South China Sea
The South China Sea, and particularly the Strait of Malacca used to access the sea, is a chokepoint for 30% of global oil flows, particularly oil flowing from the Middle East to China and Japan. Iran has used this channel for years, exporting oil to Asian nations before sanctions were lifted in 2016 to allow exports to Europe. With sanctions in place by November, the SCS will be a major focal point of Iran’s trade once again, making it an important area to monitor in the news. Click Here to read more from the EIA.
India to Overtake China in Oil Demand Growth
By 2024, India will overtake China as the leader of global oil demand growth. China is currently a major source of market interest – when their demand increases or decreases, it sets the tone for prices. India’s infrastructure has a long ways to go before it is prepared to meet demand, which could create significant volatility in markets if their imports change erratically due to shifting demand trends. Click Here to read more from CNBC.