Logistics NEWS

ASCO, a global integrated logistics and materials management company, has appointed Tony Wright as its new Group Chief Financial Officer (CFO) following the retirement of Gary Paver.

Heavy Lift Projects Ltd (HLP), an innovation-led provider of offshore windfarm logistics, has completed a funding round with private investors and opened its first office in Edinburgh.Capercaillie (Investments) Ltd and Giles W Pritchard-Gordon & Co Ltd. have committed a multi-million-dollar investment, which will be used to complete engineering work on its first project, a new design of ring crane for assembling and loading offshore windfarm components.

The second Covid-19 surge is wreaking havoc in India, with cases surpassing six figures daily. Although India has not declared a nationwide lockdown, several states where the cases have peaked substantially are resorting to preventive measures, including lockdowns. Reports suggest that some migrant workers across the country may be making their way home to avoid the logistical nightmare a lockdown may bring. However, it is not as widespread compared to last year’s exodus and limited to specific parts of the country.

The market for moving oil across the world’s oceans is currently so bad that owners of the industry’s biggest supertankers are actually subsidizing the delivery of cargoes.We are probably never going to experience a demand increase similar to what we are likely to see over the next nine months for tankers,” said Eirik Haavaldsen, a shipping analyst at Pareto Securities AS in Oslo

Canada’s Hydro Energy has signed a long-term contract with chemical company Chemtrade Logistics Income Fund (TSE:CHE.UN) to offer green hydrogen for its commercial truck fleets at a fixed price and 5% below the price the partner would typically pay for diesel.

DP World PLC has acquired 100% of Topaz Energy and Marine Limited for $1,079 million. Topaz is the leading critical marine logistics and solutions provider to the global energy industry. The company has strong relations with big oil companies including BP, Chevron, Dragon Oil, Dubai Petroleum, ExxonMobil, Saudi Aramco and Tengizchevroil. This deal is in line with DP's strategy to enter into the global logistics and marine services industry.

With the assistance of a specialized marine and seaward engineering consultancy-Aqualis Offshore, ONGC has effectively moved 29 portable offshore drilling rigs at their respective monsoon locations preceding the Indian monsoon. Aqualis Offshore is providing marine warranty services to ONGC’s jack-ups rigs and mobile offshore production units (MOPU) in Indian waters. This huge logistic challenge has been taken up with great care and safety.