Petrol and diesel prices are likely to be cut by close to Re 1 per litre this weekend on sliding global oil rates.This would be the seventh reduction in petrol prices since August and the third in rates of diesel since its decontrol last month.State-owned fuel retailers Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) following the fortnightly review practice, are due to revise rates of petrol and diesel on Saturday.In all probability, rates will be reduced if the current trend of declining international oil prices continue, industry sources said.
Report Houston Drivers Spend An Average Of 75 Hours A Year Stuck
Share To embed this piece of audio in your site, please use this code: 00:00 /00:46 Houston commuters spent an average of 75 hours in congestion in 2017, up from 43 hours in 2000, according to a new report from Texas A&M Transportation Institute. According to the researchers, it’s part of a nationwide trend, as employment in the U.S. has grown by just over 50% since the early 1980s, meaning more people are on the road trying to get to work. Since that time, the average number of hours that commuters nationwide lose to traffic delays has nearly tripled to 54 hours per year. And when you add up all that time stuck in traffic, researchers say it’s now costing the U.S. about $166 billion a year, while the amount of wasted fuel adds up to about three billion gallons annually.Researcher David Schrank told News 88.7 that travel demand is growing faster than the system’s ability to handle it and no one solution will solve the problem.“Congestion is an issue everywhere,” said Schrank. “You need to do a little bit of everything or actually a lot of everything. Add capacity or make road improvements where there’s obvious need but look at other options and things as well. Look at public transportation. Look at bike-ped where it makes sense.”The study says growing congestion doesn’t just affect commuters, but it’s also a burden on manufacturers and shippers, who are having to pass the cost on to consumers when they lose money stuck in traffic. 
X Listen Gail Delaughter/Houston Public Media Traffic backed up on I-45 North Freeway
IT companies to Gain as Regional US Banks Outsource More
Indian software services exporters are set to gain additional business from their largest market, the United States, as a slew of regional banks there look to outsource more technology work than ever before. Related Items
Port of Rotterdam Proclaimed ‘Port of the Year’
zoom Port of Rotterdam was proclaimed ‘Port of the Year’ during the annual ‘Containerisation International Awards’ in London. The expert jury praised the port for its substantial investment programme in Europe’s leading logistics hub and industrial complex. The jury also compliments the port with its attention to sustainability with their modal shift objectives and groundbreaking initiatives like InlandLinks and NextLogic that contribute to it.Emile Hoogsteden, director of Containers, Breakbulk and Logistics at the Port of Rotterdam Authority: “Winning this award is a tremendous achievement and recognition of our efforts. As the port of Rotterdam, we are constantly working on new investments and innovations. We don’t do this alone, but in partnership with as many market parties as possible. This is the only way we can continue to improve our port and pursue our ambition to be the most efficient, safe and sustainable port in the world. A good example of this is obviously the development of Maasvlakte 2. This is a project with which we are investing in the future and not only responding to the increasing volume size of containerships, but also taking steps towards optimising the logistical supply chain. At the same time, we enable our clients to achieve economies of scale. That’s the aim of joint ventures like P3, which will also boost our total throughput in the short and long term. Rotterdam leads today, by planning for tomorrow.”Increasing volumeAccording to the World Economic Forum, Rotterdam had the best port infrastructure in the world in both 2012 and 2013. During the period 2008-2015, businesses will make joint investments totalling over €11 billion in the port of Rotterdam, €1.2 billion of which is in container terminals. With this Rotterdam is responding to the increasing number of large 13,000 – 18,000 TEU vessels, already reflected in P3’s decision to send their largest ships to Rotterdam. Volume in the port is expected to further increase once the container terminals on Maasvlakte 2 become operational. Ben Vree, European CEO at APM Terminals: “Although the frequency of calls made by container vessels to Rotterdam may decline in the coming year, the volume will continue to increase. Combined with the state-of-the-art infrastructure and the improved efficiency in ship and cargo handling, Rotterdam’s future looks very bright. So I think the port of Rotterdam deserved to win.”About the Containerisation International AwardThe Containerisation International Awards is an initiative of publisher Containerisation International. Every year, prizes are awarded to businesses and private individuals which made a unique contribution to container liner shipping and the logistics sector in the previous year by being innovative, proactive and/or pioneering. The nominees for the ‘Port of the Year’ award were DP World’s Jebel Ali Port, the Maritime and Port Authority of Singapore (MPA), the Port of Long Beach and the Port of Rotterdam.Port of Rotterdam, October 25, 2013