As global terrorism increases, the attacks on oil and gas facilities are at an increase as well. Cyber-attacks on the Industrial Control Systems (ICS) are on the rise. ICS’s can be anything from computer software all the way to the control system that regulates the valves on a pipeline. If a system is compromised, it has the ability to delay operations causing a significant loss for the company.
Within the last year, we have witnessed very tight truck capacity. Shippers have engaged the Spot Market to find scarce capacity at budget straining prices. The absence of transparency in the market, along with sourcing and pricing, also results in a lack of operational flexibility which leads new market opportunity service failure. With the technology we have in 2019, this attracts new market opportunity unlocking potential for real-time freight.
Since making recent headlines, many people are familiar with the Philadelphia Energy Solution (PES) oil refinery explosion that occurred on Friday, June 21st at approximately 4:00 a.m. in South Philadelphia. The blaze injured five workers that were treated for minor injuries. The explosion caused a 3.5% - 3.9% jump in RBOB prices on the NYMEX due to concern that the outage may constrain supply.