Freight & Bunkers News

Dec 02  - NWE 0.5%S marine fuel paper in acute backwardation amid tight supply
Europe has seen an ongoing dearth of marine fuel supply due to the outage of the hydrocracker at the 220,000 b/d Sines refinery.

Dec 02  - Brazil's record subsalt output boosts October oil exports 33.5% on year
Oil companies operating in Brazil shipped 43.612 million barrels in October.

Dec 02  - Crude settles higher as demand optimism offsets OPEC+ output bumps

OPEC, Russia-led allies to proceed with production increase for January.

Dec 02  - CMA CGM, Shell perform first Bio-LNG bunkering in Rotterdam
Safe and efficient bunkering operation was performed by the barge LNG London at the Rotterdam Short Sea Terminals.

Dec 02  - Hong Kong Dec ex-wharf bunker premiums rise on higher Singapore cargo values
Despite the supply tightness in Singapore, Hong Kong marine fuel 0.5%S market is well supplied, industry sources said.

Dec 02  - China Zhoushan resumes bunkering operations Dec 1
Supply at Zhoushan, China's largest bunkering port, is sufficient to meet demand, bunker suppliers said.

Dec 02 - FBX Weekly Overview (Freightos)
- Asia-US West Coast prices (FBX01 Daily) ticked up 2% to $14,924/FEU. This rate is 286% higher than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) increased 1% to $16,865/FEU, and are 244% higher than rates for this week last year.

- Ocean rates across all major lanes remained level but still extremely elevated this week, with peak season behind us and Lunar New Year two months ahead. Prices remain high due to sustained elevated demand – especially from Asia to the US – and the resulting port congestion.

- In November, the ports of LA/Long Beach made some progress in reducing the number of containers clogging their yards and new strategies were announced this week to hopefully speed up the progress and ease congestion.

- The ports once again postponed a container late fee, and announced that they will waive fees for night time pick ups in hopes of encouraging more after-hour activity. Ocean carrier CMA CGM will pay customers who collect containers quickly, and Walmart opened a yard for its containers nearby to free up space at the ports.  

- Though the number of ships anchored off shore has decreased, the total number of vessels either waiting further away or en route has not fallen significantly, showing that the underlying demand remains in place.

- High rates and congestion are ultimately results of the consumer spending shift from services to goods that began early in the pandemic. So in terms of the other major development this week – the spread of the omicron variant – the new COVID strain has the potential to push the shift back to spending on services even further away.

- Likewise, a prolonged battle with COVID pushes back the recovery of air travel, which reduces air cargo capacity and is keeping prices high. Congestion and handling delays at airports in Europe and the US are also slowing operations and effectively reducing how much cargo airlines can handle.

- Freightos data shows air cargo rates from Shanghai to the US climbed 15-20% in November, and are less than 5% below the record high set in May 2020 during the early rush on PPE.  Meanwhile, the hopes that the increase in transatlantic passenger service in November would ease air cargo rates have not been realized. Holiday-season demand and handling delays seem to have been enough to push prices up despite the introduction of more capacity.  Freightos Air Index data show that Europe-US East Coast rates increased 10% over the month to $5.45/kg, with rates to the Midwest and the West Coast climbing as well.

Dec 01  - Kirby Inland Marine agrees to pay $15 mil for 2014 Houston Ship Channel spill
Incident affected delivery, loading schedules of crude oil, refined products, petrochemicals.

Dec 01  - IMO group may seek to tag Mediterranean as sulfur emission control area

IMO capped global sulfur content in marine fuels at 0.5% on Jan. 1, 2020, down from 3.5% previously, outside the designated emission control areas.

Dec 01  - Shipping industry to be slow to decarbonize:
bunker fuel execs
IMO is currently targeting a 50% cut in emissions from the global fleet by 2050 compared with 2008 levels.

Dec 01  - Crude extends slide as omicron spread fuels demand jitters

Refined product futures gave up much of overnight gains but stay in black as signs of strong demand offset large inventory builds.

Dec 01  - Singapore 180 CST HSFO front-month structure slips to near 6-month low on weak demand
Among the primary procurers of the 180 CST HSFO grade in Asia, both Bangladesh and Pakistan have been reducing their procurement volumes as lower temperatures in the region have also led to less demand from domestic utilities companies.

Dec 01  - South Korea suspends bunkering operations on strong winds
Operations were suspended across the country with ports in the west, such as Daesan and Incheon, and the south, such as Yeosu, Ulsan/Busan, affected, the sources added.

Dec 01  - SLNG, Linde Gas team up for liquefaction, storage of CO2 from Jurong Island operations

Singapore's Economic Development Board announced the sustainability goals for Jurong Island in a report released on Nov. 23.

Dec 01  - Bangladesh's Dec HSFO imports to fall from Nov on drop in utility demand
The approaching winter has led to a seasonal fall in demand from the power generation sector.

Dec 01 - U.S. labor secretary visits top West Coast ports as union talks loom  

The U.S. labor secretary on Tuesday met with unions and employers at the nation's busiest port complex in Southern California as anxiety builds ahead of next year's contract negotiations covering roughly 22,000 West Coast dockworkers. The contract expires in July, and the stakes are particularly high at the Los Angeles/Long Beach port complex that handles some 40% of U.S. imports. Docks at the side-by-side ports are crowded with cargo boxes and more than four dozen container ships are waiting to unload as retailers like Walmart scramble to stock shelves with holiday gifts.

Nov 30  - Oct fuel oil sales jump 7% on year on stockpile demand
The increased fuel oil sales come as some Japanese power utilities move to secure fuel oil domestically for winter amid high spot LNG prices.

Nov 30  - Singapore 180 CST HSFO front-month structure slips to near 6-month low on weak demand

Among the primary procurers of the 180 CST HSFO grade in Asia, both Bangladesh and Pakistan have been reducing their procurement volumes as lower temperatures in the region have also led to less demand from domestic utilities companies.

Nov 30  - China Oct fuel oil exports rise 22% on year on higher bunker sales
All the exports in October fell into the category of "custom warehouse," which indicates that the exports were fuel oil sold as bonded bunker.

Nov 30  - Bangladesh's Dec HSFO imports to fall from Nov on drop in utility demand

The approaching winter has led to a seasonal fall in demand from the power generation sector.

Nov 30 - Two Chinese border cities limit rail imports amid COVID outbreak in the north 

Two Chinese border cities are halting some commodity imports by rail to reduce the risk of COVID-19 infections coming in from other countries amid a fresh resurgence of the disease in northern areas of China. Erenhot city, a key transit hub next to Mongolia, suspended from Sunday certain non-containerised imports by rail that require manual loading and unloading to prevent virus transmission, according to a local government statement.

Nov 30 - Egypt’s GASC buys 600,000 tonnes of wheat in tender 

Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), on Monday said it bought 600,000 tonnes of wheat in an international tender for shipment Jan 9-20. The purchase comprised 240,000 tonnes of Romanian wheat, 240,000 tonnes of Russian wheat and 120,000 tonnes of Ukrainian wheat, GASC said.

Nov 29 - Marine fuel 0.5%S at two-month low on omicron variant
Global downward trend also seen in Singapore 0.5%S marine fuel barges.

Nov 29 - Crude edges higher as market digests potential omicron variant impacts
As of Nov. 29, omicron variant reported in at least 15 countries across five continents

Nov 29 - Euronav sees tanker market well placed to ride out any COVID-delayed recovery

- VLCC dirty freight rates have risen since summer
- Atlantic basin shows demand growth potential

Nov 29 - IMO's recent climate meeting 'a missed opportunity': Maersk CEO
The IMO is currently targeting a 50% cut in emissions from the global fleet by 2050 compared with 2008 levels, but there is growing industry and political pressure to raise the 50% goal to 100%.

Nov 29 - UN shipping talks fail to speed up faster carbon exit 

Further shipping talks are scheduled for next year after delegates at a U.N. agency meeting that sought to speed up decarbonisation of the sector failed to make progress, officials said on Friday. The sector, which transports about 90% of world trade and accounts for nearly 3% of the world's CO2 emissions, is under pressure to deliver concrete action including a carbon levy.

Nov 24  - Hong Kong delivered 0.5%S bunker premium hits near 5-month high on demand uptick
The port of Hong Kong has seen incremental downstream demand for International Maritime Organization-compliant bunker fuel, stemming from the diversion of bunker-only inquiries as some shipowners could not secure prompt delivery dates in Singapore, market sources said.

Nov 24  - Marine fuel 0.5%S Singapore-Fujairah spread widens to premium

The spread of marine fuel 0.5%S cargo values between Singapore and the Middle Eastern port of Fujairah widened from an over seven-month low of on expectations of lower low sulfur fuel oil cargo inflows to the world's largest bunker hub of Singapore amid ample inventories at the port of Fujairah.

Nov 24  - Fujairah Oil product stockpiles see highest drop on record

Fuel oil exports from Fujairah were at a record 4.12 million barrels in the week started Nov. 15, with shipments headed for Singapore, China, Madagascar and Pakistan, according to Kpler data.

Nov 24  - Maintenance at Baltic port of Primorsk to affect some Urals Dec loadings:
Loadings are expected to be suspended over Dec. 6-10 as works will be carried out.

Nov 24  - FBX Weekly Overview (Freightos)

- Asia-US West Coast prices (FBX01 Daily) increased 1% to $14,677/FEU. This rate is 278% higher than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) also climbed 1% to $16,633/FEU, and are 250% higher than rates for this week last year.

- Ocean rates stayed stable across all major lanes this week. And just as signs of improvement have started to show in LA/Long Beach, a new crisis has hit another North American port. A severe storm brought flooding and mudslides to Vancouver last week, significantly damaging roads and rail lines and essentially cutting off the city’s – as well as its port’s – access to the rest of the country.

- Though some rail service is expected to be restored this week, the disruption has created a backlog of about 40 ships waiting to dock. Flight cancellations may have put pressure on air cargo rates too. The Freightos Air Index shows that rates from Frankfurt to Vancouver increased sharply last week to $6.36/kg, a 25% increase from the start of the month. Air Canada is adding cargo capacity across the country to service shipments that could not get out due to the storm and its aftermath.

- Meanwhile, the congestion in LA/Long Beach has started to ease: combined, the ports are reporting a 32% reduction in the number of long-dwelling (more than 9 days) containers in their yards, and have had multiple "sweeper" ships arrive to help remove the surplus of empty containers also clogging the ports.  The improvement was enough to convince the ports to postpone the new fee it has announced for long-dwelling containers for another week.

- Another possible sign of progress is a decrease in the number of ships waiting at anchor for a berth, which has fallen from 80+ ships recently to about 60 this week.  More space in the yard means ships can be unloaded more quickly, and could be contributing to the shortened line. But the reduction is likely also partly due to some vessels now staying in holding patterns further offshore to reduce emissions in the bay.

Nov 24 - Philippines temporarily limits rice imports from Vietnam 

The Philippines, one of the world's biggest importers of rice, is taking steps to temporarily limit imports of the grain from Vietnam amid a big harvest at home, three rice traders and an agricultural official said on Wednesday. The traders said that the Philippines' department of agriculture had suspended issuing sanitary and phytosanitary import clearance for rice shipments from Vietnam.

Nov 24 - Mexico to reinstate temporary tariffs on steel imports in 2022 

Mexico announced the temporary reinstatement of 15% import tariffs on some types of steel to begin in the next year, aimed at boosting the industry after a slump brought on by the coronavirus pandemic. The tariffs will begin in June 2022 and gradually disappear at the end of 2024, the government said in presidential decree published in the Official Gazette on Monday night. The measure applies to more than 100 steel products.

Nov 23  - No Americas container, tanker assessments Nov. 25-26
S&P Global Platts will not publish any Americas container shipping, clean and dirty tanker assessments on Nov. 25-26, 2021, due to the US Thanksgiving holiday.

Nov 23  - Shanghai-Zhoushan delivered low sulfur marine gasoil spread hits all-time low
Fishing trawlers' consumption of LSMGO, especially during fishing season, constitutes a significant portion of overall demand at Zhoushan, which also help pushed bunker price above levels at the port of Shanghai, traders said.

Nov 23  - Singapore marine fuel 0.5% front-month backwardation rises to near 2-year high amid tight Dec supply
Traders have pointed to a lack of inflows of arbitrage cargoes in December from the Mediterranean and North Africa as a reason for the widening December-January spread.

Nov 23  - Firm demand lifts Fujairah Nov ex-wharf low sulfur marine fuel premiums
Downstream low sulfur fuel oil bunker demand in Fujairah has stayed relatively firm in November following a month of robust bunker demand in October, which hit an all-year high.

Nov 23  - European HSFO prompt structure flattens on falling exports
According to Kpler shipping data, European HSFO exports were set to fall to an estimated 443,000 mt for the week to Dec. 5, from 1.006 million mt for the week ended Nov. 15.

Nov 23  - Russian river navigation gradually closing, throughput slightly higher on year
Navigation this year has been hindered by drought followed by high water levels in some regions.

Nov 23  - Ammonia could be steppingstone to liquid hydrogen for long-distance transport: Linde
Ammonia is seen as a leading contender for transporting hydrogen-based fuels over long distances by tanker. But the reconversion costs and efficiency losses in turning ammonia back into hydrogen make it unattractive in many cases.

Nov 22 - Asia residual fuels: Key market indicators for Nov 22-26
At the same time, high natural gas prices are raising fuel oil demand from power utilities in Europe, traders added.

Nov 22 - Europe and Africa Residual and Marine Fuel: Key market indicators this week
The premium for delivered 0.5%S marine fuel over barges at Rotterdam fell $4.75/mt week on week to $9.25/mt.

Nov 22 - Zhoushan delivered LSMGO bunker premium hits over one-year high on tight supply

Inventories of delivered LSMGO have tightened largely due to limited supply of ex-wharf cargoes at Zhoushan, according to market sources.

Nov 22 - Brazil discussed Santos port privatization during trip to UAE, says minister 

Brazilian Infrastructure Minister Tarcisio de Freitas said on Friday that a potential privatization of the Santos port was "the most discussed topic" during his trip to the United Arab Emirates alongside President Jair Bolsonaro last week. Freitas did not provide details on privatizing Latin America's busiest port or with whom it was discussed. He spoke during the auction of areas in the port, in which state-run oil company Petrobras placed the highest bid for a fuel storage and distribution asset.

Nov 22 - Iran says it has imported 4 million tonnes of wheat since late April 

Iran said on Friday it had imported four million tonnes of wheat since late April, the semi-official ILNA news website reported. "This year 4.5 tonnes of wheat were bought from Iranian farmers ... And since late April, 4 million tonnes of wheat were imported," ILNA quoted Hassan Hanan, deputy minister of domestic trade, as saying.

Nov 19  - Singapore marine fuel 0.5%S cash differential surges to 21-month high
The cash differential for Singapore marine fuel 0.5%S cargoes surged to a 21-month high of $9.14/mt on Nov. 18, from $7.50/mt Nov. 17, Platts data showed, in anticipation of tighter supply.

Nov 19  - Bunkerworld Index Prices fall on residual stock drop, flooding in Vancouver
Bunker prices dropped on the week to Nov. 18 on the back of weakened crude prices, a drop in residual fuel stocks in Singapore, and severe flooding in Vancouver, which has raised concerns about regional supply lines.

Nov 19  - Crude, marine fuel markets impacted as floods cut off links to Vancouver

Canadian Pacific Railway estimated on Nov. 19 that is would restore service on its rail link between Vancouver and the interior of British Columbia around the middle of next week, four days after floods and landslides cut off the port city from the rest of Canada.

Nov 19  - Severe weather expectations hit North Asian bunker demand
Strong winds around Japan and high waves in South Korean waters are likely to hurt bunker demand, as buyers defer bunker inquiries and suppliers postpone existing nominations to the following week, traders said Nov. 19.

Nov 19  - ARA fuel oil stocks up 8.6% on week: Insights Global
Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp region, as measured by Insights Global, were up 8.6% to 1.157 million mt in the seven days to Nov. 18, a second rise in a row.

Nov 19  - Petrobras to halt bunker supply in Bahia when RLAM refinery transfers to new owner
The RLAM sale "is positive, at least for the bunker market" a market source said.

Nov 19 - Canadian shippers find few easy alternatives for grain, oil cut off by flood 

Canadian exporters of commodities from grain to fertilizer and oil scrambled on Wednesday to divert shipments away from Port of Vancouver, which floods have isolated, but they found few easy alternatives. The disaster, which has killed at least one person, has caused the latest blockage in the congested global supply chain, driving up inflation fears ahead of the holiday shopping season. 

Nov 18  - Vancouver spot marine fuel pricing sees little impact from post-flood logistics issues
Marine fuel bunkers spot pricing saw little change Nov. 17 in Vancouver as the region continues to recover from severe flooding earlier in the week, while logistics into and out of the key North American port remain problematic.

Nov 18  - Fujairah Oct. bunker sales jump 22.1% on month, hitting high for 2021
Buyers had put off purchases during most of September in hopes that crude oil prices would soften but could wait no longer to meet their vessels' requirements in October, traders said.

Nov 18  - Singapore HSFO cargoes get support from straight-run fuel oil demand, bunker

Spot demand for Singapore-delivered 380 CST HSFO has continued to improve in November, but HSFO term contractual nominations constitute the bulk of demand that has led to stable and healthy sales volumes, even in October, when product availability was tight, traders said.

Nov 18  - FBX Weekly Overview ( Freightos )

- Asia-US West Coast prices (FBX01 Daily) increased 4% to $14,478/FEU. This rate is 276% higher than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) climbed 3% to $16,390/FEU, and are 246% higher than rates for this week last year.

- Airlines have added transatlantic flights to accommodate vaccinated European travellers who are now allowed to enter the US. Importers hoped the additional cargo space on those flights would bring down air cargo rates which had been more than twice typical levels due to a shortage of capacity.
- But so far that has not been the case, as the Freightos Air Index saw Europe-US air cargo rates climb 4% to the East Coast to $5.24/kg, and hit $6.08 to the West Coast, a 10% increase since the start of the month.  
- Rising rates could indicate that despite the increase in capacity, climbing peak season demand and congestion caused by scarce warehouse space and under-staffed ground handling crews in both the US and Europe – that limit how much cargo can be processed regardless of the space on planes – are enough to blunt the impact of the added capacity.

Nov 18 - Shipping rate surge threatens global economy recovery, UNCTAD says 

A surge in container shipping rates poses a threat to the global economic recovery, with small countries dependent on deliveries by sea expected to be hardest hit by a spike in import prices, U.N. agency UNCTAD said on Thursday. A surge in demand for consumer goods during the pandemic has created major supply bottlenecks around the world, which has impacted the supply of container ships and boxes to transport cargo.

Nov 17  - Canadian wheat, oil prices steady despite weather-driven rail, pipeline disruptions
Western Canadian wheat and crude prices remained steady Nov. 17 even as widespread flooding and debris flows in British Colombia shut down major rail and pipeline services into the province.

Nov 17  - IMO's upcoming environmental committee may raise emissions targets for shipping
The International Maritime Organization may raise its targeted 50% cut in greenhouse gas emissions to 100% at the group's Marine Environmental Protection Committee meeting Nov. 22-26, according to sources.

Nov 17  - Vancouver marine fuel market bracing for supply impacts following severe weather
The Vancouver spot marine fuel bunkers market was bracing for logistical and supply impacts following severe weather in the region Nov. 17, as rail and pipeline closures were heard impacting port operations while spot values showed some resistance to pressure from an overall weaker crude complex.

Nov 17  - Fujairah Oil product stocks rise above 20 million barrels for first time since July

Inventories of heavy distillates, which also include marine fuels, rose 3.6% to 10.88 million barrels for the week, with traders citing some tightness in barge and cargo availability, as well as waning demand due to rising outright prices.

Nov 17  - Japan Nov 7-13 oil products output falls 10% on week

Low sulfur fuel oil output surged 57.5% week on week to 0.56 million barrels in the week to Nov. 13, while high sulfur fuel oil production plunged 30.3% over the same period to 0.90 million barrels.

Nov 17  - Japan Nov 7-13 oil product exports drop 20% to 2.54 million barrels
HSFO imports came in at 427,965 barrels over Nov. 7-13 after no record of the fuel oil imports in the previous week. No LSFO imports were recorded in the week to Nov. 13 after having imported 28,242 barrels in the previous week

Nov 17  - Lower western cargo inflow to support Singapore VLSFO market in Dec: sources
Market sources said Singapore is likely to see about 1.5 million-2 million mt of arbitrage inflow in December, down from 2.5 million-3 million mt expected to arrive in November.

Nov 17  - Japan Sep bonded bunker sales fall 6% on month to 4-month low
September sales volumes slid and stayed subdued due to Typhoon Chanthu, a bunker supplier said.

Nov 17  - Japan delivered marine fuel 0.5% premium nears 20-month high amid tight availability
Market participants have mostly ceased accepting fresh spot nominations, rather preferring to channel their efforts to supply term ones.

Nov 17 - Floods cut rail access to Vancouver port, disrupting goods shipments 

Floods and landslides that have killed at least one person have cut all rail access to Canada's largest port in the city of Vancouver, a spokesperson for the port said on Tuesday. Two days of torrential rain across the Pacific province of British Columbia touched off major flooding and shut rail routes operated by Canadian Pacific Rail and Canadian National Railway, Canada's two biggest rail companies.

Nov 16  - H2 Green to develop hydrogen and ammonia hub in Shoreham, UK, to decarbonize portThe project could decarbonize the 800 trucks a day that pass through the port, and could fuel port and coastal marine craft.

Nov 16  - Bunker sales in Panama rise in October to their highest level in five months
Bunker sales in Panama rose in October supported by soaring high sulfur and marine gasoil markets, but the volume for marine fuel 0.5%S dropped to its lowest volume since June 2020.

Nov 16  - Taiwan's CPC sells IMO-compliant LSFO loading H1 Dec
CPC sold the cargo on the back of higher margins for the product, a source close to the matter said.

Nov 16  - GAC Bunker Fuels, Neutral Fuels partner to market biofuel blend

This comes as shipping companies are increasingly looking for cost-effective ways to meet their carbon emission reduction targets and are relying on their suppliers to offer sustainable solutions.

Nov 16  - Japan's delivered 380 CST HSFO bunker premium nears 2-year high as bunker inventory low

Power generation companies' appetites for HSFO increased so as to meet seasonal winter demand, while domestic refineries undergoing maintenance have reduced production capacities, market sources said.

Nov 16  - Fujairah Nov ex-wharf 380 CST high sulfur bunker fuel premium stable from Oct

By capping the downstream orders for delivered 380 CST HSFO despite strong demand, the ex-wharf quantities agreed for monthly term contractual supply in November remained stable and relatively unchanged from the previous month, according to traders.

Nov 16  - VLGC rates rise to near six-month highs, uptrend set to last till Feb
Sources attributed this to delays that VLGCs, especially unbooked ones, face in transiting the Panama Canal, as well as congestion at discharge ports in India and China, which limited available vessels at a time of healthy demand for LPG in Asia.

Nov 15  - Singapore spot ex-wharf marine fuel 0.5%S premium rises to near nine-month high
The Singapore ex-wharf marine fuel 0.5%S bunker premium against the benchmark Singapore Marine Fuel 0.5%S cargo assessments rose to a near nine-month high of $5.46/mt Nov. 12 as demand for spot ex-wharf requirement firms amid terminal congestions, S&P Global Platts data showed.

Nov 15  - Singapore Oct bunker sales hit six-month high to 4.255 million mt
Bunker fuel sales in Singapore rose 8.1% month on month and 2.5% on the year to 4.255 million mt in October, following sluggish demand in September, Maritime and Port Authority of Singapore, or MPA, data showed Nov. 13. Bunker fuel sales were last higher in April, at 4.257 million mt.

Nov 15 - Shipping companies feel the heat as investors shun coal 

Shipping companies that transport the world's coal are in the crosshairs of some financial backers who are cleaning up their businesses in the absence of a truly global drive by nations to renounce the dirtiest fossil fuel. In a sign of investors taking the initiative, six European firms collectively representing over 5% of the estimated annual $16 billion capital financing requirements of the dry bulk industry told Reuters they were either reducing their exposure to vessels that transport coal or were considering doing so.

Nov 12 - Shooting the messenger? Shipping carries the can as investors shun coal 

Shipping companies that transport the world's coal are in the crosshairs of some financial backers who are cleaning up their businesses in the absence of a truly global drive by nations to renounce the dirtiest fossil fuel. In a sign of investors taking the initiative, six European firms collectively representing over 5% of the estimated annual $16 billion capital financing requirements of the dry bulk industry told Reuters they were either reducing their exposure to vessels that transport coal or were considering doing so.

Nov 12 - Congestion at Port of Rotterdam seen persisting through 2022 

Congestion and bottlenecks in moving container traffic through the Port of Rotterdam, Europe's largest, are likely to persist through 2022, port officials said on Thursday, potentially weighing on economic recovery after the COVID-19 pandemic. Although throughput volume at the port is now above 2019 levels, it is being constrained by various logistical challenges the port is seeking to address, the officials told a news briefing.

Nov 11  - Product tanker group d'Amico sees higher Q4 demand on more mobility
Increasing vaccination rates and the easing of social distancing measures should benefit oil demand toward the end of 2021, Paolo d'Amico, company CEO and chairman said

Nov 11  - COP26: Revenue from carbon prices on shipping must be targeted, say experts
- IMO expected to discuss carbon levy in November
- EU ETS criticized for lack of transparency

Nov 11  - Bunkering operations suspended at Malta due to bad weather
The situation was only expected to last until Nov. 12, the source added.

Nov 11  - COP26: Voluntary carbon market value tops $1 bil in 2021: Ecosystem Marketplace
CORSIA-eligible carbon (CEC) credit prices have surged by 944% in 2021, with the value pegged at $8.35/mt at the close Nov. 10, according to S&P Global Platts assessments, compared with 80 cents/mt on Jan. 4.

Nov 10  - FBX Weekly Overview (Freightos)

- Asia-US West Coast prices (FBX01 Daily) fell 26% to $13,924/FEU. This rate is 261% higher than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) decreased 20% to $15,865/FEU, and are 239% higher than rates for this week last year.

With peak season urgency solidly behind us, this week saw a significant fall off in transpacific ocean rates.

The pandemic-driven increase in spending on goods has fuelled growth in ocean volumes and nearly uninterruptedly pushed container rates up since June 2020.  But the additional demand driven by this year’s peak season supercharged pressure on rates this summer. This led to a 70% price spike over the last two weeks in July – the sharpest climb of the past 18 months.

So now, the easing of that peak season demand – likely aided by the impact of energy-driven supply constraints to Chinese manufacturing – seems to have led to the largest price drop of the past two years.

Asia-North America West Coast rates fell 26% this week, though they remain extremely high at $13,924/FEU. Rates are nearly 30% higher than their level just before the July spike, 261% higher than a year ago and 9X more than in November 2019.  For the first time since June, there are reports that many transpacific bookings can be made without paying the hefty premiums that were a major factor in the July spike, suggesting drops in premiums are contributors to the current decrease as well.   

Other trends, like the recent dip in transpac vessel speeds on the return trip to Asia and falling container ship charter rates, could also reflect a post-peak decrease in demand.

Importers will welcome the lower rates, but prices are likely to be kept well above the norm by port congestion and low inventories and still-elevated consumer demand.

Though there are indications that new measures are improving yard congestion at LA/Long Beach and new federal spending could help some ports in the near term, ports remain overwhelmed. And though the latest NRF analysis of US retail ocean import volumes reflects the moderate short-term easing, it also shows that demand is expected to remain extremely elevated – 30% higher than November-December volumes in 2019 – through the end of the year.  

With the holidays nearing and ocean delays pushing some shipments to air, peak season air cargo rates have continued to climb. The Freightos Air Index (FAX) China - US West Coast lane hit $14.22/kg last week, approaching five times the norm.

New US regulations allowing vaccinated foreigners to enter the country are expected to drive an increase in badly-needed passenger jet cargo capacity to the transatlantic lane. FAX Europe-North America rates were at $5.09/kg last week, about 2.5 times the norm.  The hope for shippers is that the additional capacity will ease pressure on rates, but holiday season demand and ground handling labor shortages may not lead to that outcome.

Nov 10  - Singapore ex-wharf 380 CST HSFO balance Nov term premiums softens as stocks climb
According to traders, rising inventories of 380 CST HSFO pushed ex-wharf premiums down in November.

Nov 10  - European paper fuel oil Hi-5 spread reaches 20-month high

European fuel oil traders have attributed this divergence between VLSFO and HSFO to a relative weakness in the high sulfur market, caused primarily by a drop in import demand from Asian utilities.

Nov 10  - Sinopec to commission hydrogen cell fuel project in Shandong by end December
The Qingdao city-based project is currently in its trial run and will be come the biggest hydrogen fuel supply base by capacity in the province.

Nov 10  - China's Guangdong to build LNG bunkering stations in inland waterways
The purpose of the plan is to accelerate setting up of LNG bunkering stations, ensure LNG bunker supply, promote clean energy in inland waterways and help meet the country's carbon peak and carbon neutrality targets, according to GDRC.

Nov 10 - White House looks to move quickly on $17 bln revamp of U.S. ports 

The White House plans to move quickly on a $17 billion revamp of U.S. ports approved by Congress as part of President Joe Biden's $1 trillion infrastructure bill. Biden is due to visit the Port Of Baltimore on Wednesday to tout funding for revamping U.S. ports facing huge backlogs.

Nov 09  - Japan's Idemitsu gets winter fuel oil supply requests 'double' from Jan-Feb: CEO
Japanese refiners boosted their fuel oil supply for power generation in January following an emergency fuel supply request from the Federation of Electric Power Companies of Japan to PAJ.

Nov 09  - S Korea sees rise in marine gasoil demand amid high LNG prices

LNG ships typically uses boil-off gas as bunker fuel while the ships also burn LSMGO, or low sulfur fuel oil, depending on their facilities, the sources said.

Nov 09  - Singapore Q4 ex-wharf low sulfur marine gasoil inked at $2/b discount to 10 ppm
LSMGO bunker sales rose 14.4% month on month to 331,700 mt September, Maritime and Port Authority of Singapore preliminary data showed.

Nov 09 - Argentine exporters vow safeguards to keep GM wheat out of shipments 

Argentine grains exporters have asked the government to identify farmers who are growing drought-resistant genetically modified (GM) wheat, so they can halt sales from those areas until top importer Brazil approves the technology. Exporters say if any GM wheat is shipped from Argentina, all international sales of the grain may be shunned due to concern about possible cross-contamination from GM to non-GM cargos, given some consumers' aversion to bread made with GM flour. 

Nov 08  - Crude rallies as Saudi Aramco doubles price of Asian exports
The Saudi energy group said it would raise its OSPs for exports of its crude oil to Asia, the Mediterranean, Europe and US bound cargoes in December.

Nov 08  - COP26: Shipping industry must 'upgrade; climate targets: IMO chief
The IMO is currently targeting a 50% cut in greenhouse gas emissions from the global fleet by 2050 compared with 2008 levels, following a 40% reduction in carbon intensity by 2030, but there is growing industry and political pressure to raise the 50% goal to 100%.

Nov 08  - Tokyo Bay marine fuel 0.5%S bunker premium jumps on stronger demand
Market sources said refiners' supply is limited because their fuel oil have been earmarked for power companies that are increasing fuel oil purchases for winter demand.

Nov 08  - Singapore delivered, ex-wharf marine fuel 0.5%S bunker differential nears eight-month high
The volume of inquiries for prompt bunker requirements has inched up since October, but terminal congestions have held up barges in queue awaiting refueling, traders said.

Nov 05  - Singapore Middle distillate stocks fall 11% on week to 24 1/2-month low
Singapore gasoil, jet fuel and kerosene inventories eased 11.01% in the week of Oct. 28-Nov. 2 as healthy drawdowns against a backdrop of lower inflows into the city-state pushed stocks to hit a 24 1/2-month low.

Nov 05 - U.S. bans imports from fifth Malaysian firm in 15 months over alleged forced labour 

U.S. customs authorities have banned imports from Malaysian rubber glove maker Smart Glove over alleged forced labour practices, making it the fifth Malaysian firm to face such a ban in the past 15 months. The U.S. Customs and Border Protection (CBP) issued a "Withhold Release Order" that prohibits imports from Smart Glove and its group of companies, the CBP said in a statement on Thursday, a decision it said was based on reasonable evidence that indicates "Smart Glove production facilities utilise forced labour".

Nov 04 - Shipping group CMA CGM to buy Los Angeles' FMS container terminal  

Shipping group CMA CGM has agreed to acquire the Fenix Marine Services (FMS) container terminal at the port of Los Angeles in a deal worth around $2 billion that will extend its presence in a crucial hub for transpacific trade. CMA CGM currently has a 10% stake in FMS and it is to buy the remaining 90% from investment fund EQT Infrastructure III on the basis of an enterprise value of $2.3 billion, CMA CGM and EQT said on Wednesday.

Nov 03  - MARINE FUEL 0.5%: Global prices rise as fundamentals turn bullish
The marine fuel 0.5%S market in October was dominated by rising prices and cracks coupled with renewed hope for an increase in bunker demand in coming months.

Nov 03  - September global air travel 53% below September 2019: IATA
Global air travel in September picked up from August but was still 53% below September 2019's level, the International Air Transport Association said Nov. 3.

Nov 03  - Danish shipping group Monjasa expands US presence with Houston office
The company said that it sees the new office as offering opportunities to establish upstream and downstream business relationships in the US Gulf Coast region.

Nov 03  - Oil complex resumes slide following US crude inventory build
US commercial crude oil stocks moved 3.29 million barrels higher in the week ended Oct. 29 to 434.1 million barrels, US EIA data showed.

Nov 03  - Singapore Oct fuel oil paper MOC trades fall 42% from Sep as HSFO demand slumps
A slide in the traded volume for HSFO swaps comes on the back of a seasonal decrease in demand from power generation companies in South Asia and the Middle East.

Nov 03  - FBX weekly Overview ( Freightos )

- Asia-US West Coast prices (FBX01 Daily) climbed 16% to $18,730/FEU. This rate is 387% higher than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) increased 2% to $19,895/FEU, and are 327% higher than rates for this week last year.

Though Asia-US West Coast rates are 9% below the mid-September peak-season high, prices climbed 16% this week to $18,730/FEU.  Even with the height of peak season demand behind us, elevated or climbing rates may show that low inventory levels and still-elevated consumer demand for goods are keeping volumes high.

Most acutely though, congestion at LA/Long Beach is also keeping pressure high during what is normally the lull between peak season and Lunar New Year.  Sea Intelligence estimates that worldwide, congested ports are sucking up 12% of global container capacity, effectively reducing supply while demand stays elevated.

In LA/Long Beach, the current crisis is the lack of space in its container yards choked with loaded imports and empty containers. With no space, ships aren’t getting unloaded as fast as possible and trucks can’t return empty containers that are in turn filling area warehouses and occupying chassis badly needed to pick up imports.   

The ports are rolling out several initiatives aimed at freeing up space. An upcoming penalty on ocean carriers for containers that don’t get picked up on time is reportedly already having an impact.

Though carriers will pass fines on to importers, and many importers are not intentionally leaving boxes unclaimed, it seems the targets are the very large importers whose containers are usually allowed extended time at the ports. With their own warehouses full with holiday goods, large retailers may be storing non-urgent containers at the ports. So the fine is designed to push this group toward other storage options.

Also this week, the ports announced that some carriers will send dedicated “sweepers,” ships brought in just to remove empty containers from the yard, and that alternate nearby sites are going to be opened to hold imports and receive empty containers.

Nov 03 - Shipper Maersk says port delays will stretch into new year  

The chaos that has bedevilled global supply chains in recent months will extend into next year, with a lack of truck drivers preventing hundreds of container vessels from offloading goods around the world, shipping group Maersk said.  "The whole system has become one gigantic bottleneck," Chief Executive Soren Skou told reporters on Tuesday.

Nov 02  - Container throughput at Gothenburg increases by 16% amid high transport demand
Freight volumes at the Port of Gothenburg, Sweden continue to increase as demand for transport across Northwest Europe remains high as the world recovers from the coronavirus pandemic.

Nov 02  - Polish bunker supplier Ship-Service says it's liquidating
Polish bunker supplier Ship-Service said in a statement Nov. 2 that its shareholders had adopted a resolution to dissolve the company and carry out a liquidation procedure, which started Oct. 29.

Nov 02  - Brazil's independent truckers start strike, but impact limited
Brazil's independent truckers walked off the job at midnight Nov. 1 to protest high diesel prices, but adhesion to the strike was light after the federal government won a series of injunctions over the weekend that will limit the labor movement.

Nov 02  - KCS resumes rail operations at Mexico Lazaro Cardenas port after 91-day blockade

Kansas City Southern resumed rail operations from the Mexican port of Lazaro Cardenas on Nov. 1 after 91 days of a protest blockade and $25 million in losses.

Nov 01  - Nigeria's Dangote refinery to be operational by early-2022 despite shipping constraints
The 650,000 b/d Dangote refinery in Nigeria -- set to be Africa's largest - is on track to be operational from early next year despite some delays caused by shipping constraints, Devakumar V.G. Edwin, an executive director at Dangote Industries, told S&P Global Platts on Nov. 1.

Nov 01 - Egypt likely to approve Latvian wheat as new import origin -official  

Egypt will approve Latvian wheat as a new import origin within the next few days if it meets its safety and compliance conditions, an official at the Egyptian agricultural ministry told Reuters on Friday. A delegation from the ministry met officials in Latvia on Friday to discuss the possibility of adding Latvian wheat as an approved import origin as Egypt seeks to diversify its sourcing in the face of rising global prices, the head of the ministry's central Administration of Agricultural Quarantine, Ahmed Al Attar, said.

Nov 01 - Gerald Group's Sierra Leone mine ships iron ore to China after restart  

The first iron ore shipment from U.S. commodities trader Gerald Group's restarted Sierra Leone mine was heading to top steel producer China on Friday, the company said.  Gerald Group subsidiary Marampa Mines Limited restarted mining and processing on Sept. 1 after the trader resolved a dispute with the Sierra Leone government that had caused it to shut the mine down in September 2019.

Oct 29  - Shell, Saudi Aramco and Trafigura invest in universal scrubber startup
The technology breaks down the pollutants, converting them into non-hazardous by-products, which are released into the environment or transformed into valuable products.

Oct 29  - Hydrogen moves toward commercialization as Singapore plans first imports
When asked about the evolution of downstream demand for hydrogen, Kong said eventual consumption could be split across a range of sectors outside power generation, and not all end-users would be expected to make the first move, but interest was growing.

Oct 29  - Singapore Residue stocks rise for 4th straight week amid decline in fuel oil outflows
Over the past couple of weeks, congestions, which entailed longer waiting times for barges queuing to refuel terminals, have been a bottleneck to bunker demand and operations, market sources said.

Oct 29  - Japan's bunker supply expected to tighten in Nov on higher demand

The supply of both marine fuel 0.5%S and high sulfur bunker fuel has already started to tighten, bunker traders said.

Oct 29  - Singapore delivered marine fuel 0.5%S bunker differential vs HSFO hits 20-month high
"As expected, prices of delivered 380 CST HSFO in Singapore weakened in second-half October and it should continue into November too," a trader said.

Oct 29  - Gasum delivers first renewable biogas to offshore vessel
Gasum supplied liquified biogas (LBG) to Lundin Energy's supply vessel Island Crusader, according to a Gasum company statement Oct. 29.

Oct 29  - Bunker, shipping markets face demand headwinds
- High freight dampens spot bunker demand in Asia
- Limited EMEA supply amid backwardation
- Multi-year highs for Latin America MGO

Oct 29  - Fujairah-delivered 380 CST high sulfur bunker premium hits 19-month high on strong demand
"HSFO bunker inventories at Fujairah is tighter at the moment because there were some days with very good demand," a bunker supplier said.

Oct 29 - Industry looks to U.N. climate talks to steer cleaner shipping  

World leaders attending COP26 climate talks from the end of the month must ratchet up pressure to make shipping decarbonise by 2050, a senior industry official involved in the meeting said. Shipping, which transports about 90% of world trade, accounts for nearly 3% of the world's CO2 emissions.

Oct  28  - High sulfur fuel oil drops in Europe as demand from utility companies weakens 

While availability for HSFO remains tight in bunker markets, demand has softened slightly on the week due to increased volatility in the market.

Oct  28  - High freight rates cut bunker demand in Zhoushan, Hong Kong as bunker-only calls decline
Ships occasionally deviate from the most direct route between their loading and discharge ports to buy cheaper bunker fuel. However, at current freight rates it is more profitable to complete journeys as quickly as possible to maximize utilization, market sources said.

Oct 28 - India's Adani Ports scraps Myanmar container terminal plans  

India's Adani Ports said on Wednesday it was abandoning plans to build a container terminal in Myanmar, weeks after applying for a U.S. licence for the project, saying it believed it did not violate sanctions. A military coup in Myanmar in February and an ensuing crackdown on mass protests in which hundreds have been killed has drawn international condemnation and sanctions on military figures and military-controlled entities.

Oct 27 - Spot pricing for MGO at several Latin American ports reach 2014, 2018 highs
Spot marine gasoil prices in key Latin American ports have reached multi-year highs dating back to end-2014 over the past couple of days, tracking rising global diesel values.

Oct 27 - Crude slows as US sees stock build
A larger-than-expected stock build showed US crude inventories increasing 2.3 million barrels for the week ended Oct. 15, according to API's weekly report on Oct. 26.

Oct 27 - Singapore's 380 CST bunker sales slip to one-year low; other ports eager to get pie

"Not all physical suppliers here [in Singapore] supply HSFO. Shipping bottlenecks and delayed vessel sailing schedules [in the Asian region] are also weighing on overall demand," an industry source said.

Oct 27 - Bunker prices at Chinese ports gain on supply tightness; Zhoushan bucks trend
Bunker fuel prices in ports other than Zhoushan are strong because of tight supply, driven by a shift by refiners to middle and light distillates.

Oct 27 - FBX weekly Overview (Freightos)

- Asia-US West Coast prices (FBX01 Daily) decreased 7% to $16,145/FEU. This rate is 320% higher than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) fell 6% to $19,451/FEU, and are 316% higher than rates for this week last year.

- Delays in ocean logistics make holiday season orders placed now unlikely to arrive in time. Those delays, along with some constraints to the supply of goods due to energy shortages in China drove an easing in transpacific rates this week with Asia-US rates falling by more than 6% to both coasts and Asia-US West Coast prices now 22% below the mid-September peak.

- But port congestion at LA/Long Beach – which continues to cause delays and contribute to still extremely elevated rates by sapping capacity – persists. A lack of space for arriving containers at the ports has emerged as the main choke point, slowing how quickly ships can be unloaded and keeping 79 ships – a new record – waiting in the bay.

- Shortages of trucking and warehouse capacity to move containers away are big contributors to the backup. In trucking there’s a shortage of both drivers and chassis, exacerbated by the lack of space at warehouses where empty containers often get stored on chassis when there’s no place to stack them. And to complete the loop, the empty containers are often sitting at warehouses because of a limit on how many empties can be returned to the already-full ports.

- To address these issues the ports of LA/Long Beach announced a new penalty they will soon charge carriers for containers that aren’t picked up on time, though it doesn’t seem that a lack of motivation is the problem. And the city of Long Beach changed its zoning law to allow yards and warehouses to stack boxes higher – four to five high instead of the previous limit of two – to free up space and chassis.

Oct 27 - Ports giant DP World expects container volume growth to moderate in Q4  

Dubai ports giant DP World said on Tuesday it expected growth in shipping freight container volumes to moderate in the next quarter after volumes handled rose 8.1% in the third quarter. Global supply chain disruptions due to pandemic-driven lockdowns and an unexpectedly rapid recovery in trade have led to a shortage of shipping containers, congestion in ports and sky-rocketing freight rates.

Oct 26  - Europe and Africa Residual and Marine Fuel Key market indicators this week

Traders expected strength in the European 0.5%S marine fuel market to carry through into this week, as the Sines refinery in Portugal remains operating at reduced capacity.

Oct 26  - Freight rates continue to rise on the Rhine amid low water levels
One market source said that "freight has gone up three-and-a-half times in the past two months." This is half explained by the fact that barges have been forced to part load

Oct 26  - China Sep fuel oil exports gain 16% on year on higher bunker sales
All the exports fell into the categories of "custom warehouse" and "processing and assembling", which indicates that the exports were fuel oil sold as bonded bunker.

Oct 26 - Morocco to scrap import duty on soft wheat, durum - statement 

The Moroccan government said on Monday it planned to suspend import duties on soft wheat and durum. The government will discuss two decrees to that end during a cabinet meeting on Thursday, a statement from the Prime Minister's office said.

Oct 25  - CI International Fuels to expand bunker operations in Colombia
Bunker supplier CI International Fuels announced it will expand its bunkering operations on the Caribbean coast in Colombia to the Coveñas-Tolu area, south of Cartagena.

Oct 25  - ICS welcomes progress on carbon pricing at IMO Working Group
The next important step will be for proponents of different mechanisms to submit assessments of the likely impacts on the cost of maritime trade, ICS' Bennett said.

Oct 25  - Asia middle distillates: Key market indicators for Oct 25-29

Asian middle distillate markets are poised to extend bullish momentum into the Oct. 25-29 trading week as limited exports from Northeast Asia continue to lift sentiment for gasoil and jet fuel/kerosene.

Oct 25  - EMEA Middle Distillate Key market indicators for this week
Cash differentials in the European middle distillates market faced some pressure in the diesel and gasoil markets, despite demand being steady. Meanwhile the jet complex continues to be buoyed by healthier demand and an absence of spare supply.

Oct 25  - Singapore 180 CST HSFO Nov-Dec spread flips to contango on Kuwait's unexpected exports
Fuel oil traders attributed the weakness in the HSFO market structure to the unexpected exports from Kuwait Petroleum Corp.

Oct 25  - Platts launches Singapore and US Gulf methanol bunker fuel price assessments
Research and development into these new assessments began as Platts identified a growing market demand for utilizing methanol as an alternative marine fuel amid an increased focus in reducing carbon emissions in shipping.

Oct 25 - 'Containergeddon' drives sugar, rice shippers back to bulk vessels 

Food traders are switching from containers back to dry bulk vessels to transport refined sugar and rice, hoping to avoid shipping delays caused by container shortages and port congestion that the industry is calling "containergeddon", according to traders. Container-based transportation has been hit by sky-high costs and delays amid booming shipping demand, while container terminals at ports struggle to deal with the flow. 

Oct 22  - Bunker Prices waver as cooling energy markets outweigh marine fuel tightness

- Fujairah VLSFO firms on tight barges
- European VLSFO tightens on Sines outage
- Limited availability at Ecuador until end-October

Oct 22  - Bad weather disrupts operations at Russia's Black Sea, Baltic ports
All loadings are suspended at the Black Sea port of Novorossiisk, with a weather improvement expected later Oct. 22. Operations at the port have been intermittent since Sept. 27.

Oct 22  - EU ETS would add Eur200/mt onto bunker bills at current levels: DNV official
The EC's legislative proposal forecasts CO2 emissions from shipping being included in the EU ETS from 2023, but with companies only having to surrender 20% of their obligation that year, rising to 45% in 2024, 70% in 2025 and 100% in 2026.

Oct 22  - Singapore marine fuel 0.5%S-HSFO spread widens to near 20-month high on weak HSFO
Market sources said the 380 CST HSFO market plunged after Kuwait Petroleum Corp unexpectedly sold 100,000-120,000 mt of prompt spot HSFO after a fire broke out at a sulfur removal unit in its Mina Al-Ahmadi refinery.

Oct 22  - Singapore Residue stocks inch 0.6% higher on import rise, demand recovery
Stocks have risen three weeks in a row after falling to a two-year low during the week of Sept. 29.

Oct 22  - Fujairah's marine fuel 0.5%S cargo gains outpaces Singapore; spread slims to near 7-month low
The supply of marine fuel 0.5%S in Fujairah has tightened as robust demand for the bunker fuel depleted inventories and tightened barge availability, traders said.

Oct 22  - China's fuel oil imports from Singapore rise in Oct as domestic refiners shift to gasoil
Singapore's fuel oil exports to China are surging in October as Chinese refiners lower low sulfur fuel oil production in favor or more profitable gasoil, with at least eight Aframaxes chartered to load fuel oil on the route in the month, up from the usual three-five cargoes, according to brokers.

Oct 22  - Refinery : Sweden's Gothenburg undergoes maintenance

The company previously said the refinery plans a turnaround in the fourth quarter, 2021.

Oct 22  - ARA fuel oil stocks drop to three-month low at 1.035 mil mt:
Insights Global
The 0.5%S marine fuel market in Northwest Europe experienced renewed strength in the upstream cargo market which was seeing tightening supply.

Oct 22 - Strong wheat demand fills up Australian shipping slots, Black Sea prices rise 

Robust demand for Australian wheat is quickly filling up shipping slots as importers book cargoes in advance from typically the world's fourth-largest exporter ahead of what is expected to be a second year of near record output. The country's ports are fully booked right up to the end of December for the crop which will be harvested from November onwards, one Sydney-based grains broker and two Singapore-based traders told Reuters.

Oct 21 - Fujairah Sep bunker sales slip 9.5% on month as high prices curb demand

Buyers held off purchases as long as possible in September because the rally in crude oil drove up costs, traders said.

Oct 21 - Singapore-delivered 380 CST HSFO bunker delivery lead time blows out to 6-12 days on tight supply
Congestion at Straits terminals following a COVID-19 outbreak at Universal Terminal in early October has further tightened barge availability.

Oct 21 - Thailand's PTT sells IMO 2020-compliant fuel oil for Nov 7-9 loading

The company did not export IMO 2020-compliant cargoes over August-October due to higher domestic bunker demand and an unexpected shutdown of its crude distillation unit.

Oct 21 - KPI, Straits Bunkering employees in Singapore charged for corruption

Between June 2017 and August 2018, Muhammad Afzal Bin Mohamed Ekbar, a bunker trader at KPI Bridge Oil Singapore Pte Ltd at that time, had allegedly obtained gratifications totaling at least $191,250 from Mohammad Shafiq Bin Nezammuddin, director of Straits Bunkering Pte Ltd at that time, the CPIB said in a statement on Oct. 19

Oct 21 - Platts to eliminate use of 'hand blends' in trades reported through US MOC process for 0.5%S marine fuel

Market feedback suggested it was not common for 0.5%S marine fuel to be delivered from multiple tanks for a single transaction and blended on the receiving vessel in the US for barge-sized transactions.

Oct 21 - South Korea-Japan delivered Marine Fuel 0.5%S spread flips to discount on tight supply in Tokyo Bay
Demand in South Korea has been below average over the past week, with multiple traders saying it was notably weaker than in September.

Oct 21 - Singapore's HSFO crack weakens on Kuwait's unexpected export, demand drop

Kuwait Petroleum Corp. unexpectedly sold a HSFO cargo for prompt loading after a fire broke out at Mina Al-Ahmadi refinery on Oct. 18, fuel oil traders said.

Oct 20  - Rotterdam Hi-5 barge spread makes U-turn as it widens to 3-month high
Europe 0.5%S marine fuel market seeing strength from expectations of tightening supply.

Oct 20  - Maersk CEO welcomes industry pledge to use only zero carbon fuels by 2040

Leading cargo owners such as Amazon, Unilever and IKEA teamed up with the Aspen Institute to publicly announce a signed ambition statement.

Oct 20  - European VLSFO hits record high amid tight supplies, firming marine gasoil
The gas shortages seen in Europe have pushed up crude oil prices, as customers scramble to secure alternative fuel sources ahead of the winter heating season.

Oct 20  - Wartsila, Solvang to develop onboard shipping CCS technology
S&P Global Platts Analytics estimates that scrubbers and 3.5% fuel oil accounted for about 15% of global bunker demand in 2020, with this share likely to grow to about 28% in 2030, before easing off to about 26% in 2040.

Oct 20  - Platts to amend volumes for Houston, New Orleans bunkers assessments
Platts will change the volume range for Marine Fuel 0.5%S and IFO 380 to 500 to 750 mt on both ex-wharf and delivered basis. The current range is 250 to 1,000 mt on an ex-wharf basis and 250 to 500 mt on a delivered basis.

Oct 20  - Platts to update publication of Petrobras bunkers posted prices
Beginning Oct. 5, Petrobras began only publishing a single value.

Oct 20 - Shipping industry faces ESG heat from lenders  

Banks are demanding much stricter environmental criteria when financing shipping companies as investor pressure grows on the sector to accelerate going greener, according to Boston Consulting Group (BCG). Shipping, which transports about 90% of world trade, accounts for nearly 3% of the world's CO2 emissions and BCG forecast the industry will need $2.4 trillion to achieve net-zero emissions by 2050.

Oct 20 - Port of Rotterdam freight volumes rise 15% as economy recovers  

Freight volumes in the port of Rotterdam increased 15% on a yearly basis in the third quarter as international trade continued to recover from its COVID-19 slump, Europe's largest sea port said on Tuesday. Trade flows to and from Rotterdam have been almost 9% higher in the first nine months of the year, with strong growth in almost all segments, the port said.

Oct 19  - Fujairah delivered MF 0.5%S bunker differential versus HSFO at near 7-month high
According to sources, the strong demand for Fujairah-delivered marine fuel 0.5%S since October was "quite unprecedented" after a tepid month of bunker sales in September.

Oct 19  - Ex-wharf offers at Zhoushan for Marine Fuel 0.5%S surge above delivered prices
"Even at $4/mt, we are making a loss as the barging spread at Zhoushan is usually bad," a source said.

Oct 19  - South Korea's LSFO imports rising on utilities' shift from LNG
Korea East-West Power has bought 100,000 mt of October-loading LSFO with maximum 0.3% sulfur for its Ulsan power plant.

Oct 19  - FBX Weekly Overview (Freightos)

Asia-US West Coast prices (FBX01 Daily) went unchanged at $17,377/FEU. This rate is 352% higher than the same time last year.

Asia-US East Coast prices (FBX03 Daily) were also stable at $20,695/FEU, and are 342% higher than rates for this week last year.

- Despite continued delays at the ports of LA and Long Beach, skepticism that the White House push to keep truck gates open 24/7 will drive improvement in the near term, and congestion spreading to other ports, there are indications that Asia-US ocean demand is easing, at least a little.

- In addition to Asia-US West Coast rates going unchanged this week and remaining 16% lower than their mid-September peak, logistics providers on the marketplace are seeing other signs of a let up.

- Robert Khachatryan, CEO of Freight Right reports that for the first time since June some transpac space can not only be booked without premium guarantees, but also is “available as little as one week in advance.” He attributes part of the dip to the delays: shippers still waiting for containers en route are holding off or cancelling any additional shipments.

- According to Miranda Qin of Seabay Logistics, another forwarder available on, both suppliers and importers say that supply constraints from the recent energy shortages in China – driven by rising coal costs and efforts to reduce emissions, which are expected to continue until the spring –  are also contributing to a dip in demand.

- But there’s been no comparable rate dip on the Asia-Europe lane where importers are equally exposed to production slow downs in China and are also dealing with port congestion challenges. So the easing on the transpacific – with longer transit times and delays than to Europe and Dec. 25th rapidly approaching – likely also indicates a let up in the underlying holiday-driven demand.

- If this is the start of a minor lull, it is likely to be short-lived. Just as retailers pulled peak season orders earlier than usual to account for delays, so too the other ocean freight peak around Lunar New Year (which begins February 1st) is likely to start early.

- In the meantime, ocean delays are helping to keep air cargo rates extremely elevated. The Freightos Air Index (FAX) composite global index is at $6.80/kg, 22% higher than at the start of the year, with Asia-US West Coast rates at $12.70/kg, a 40% climb since the end of August.

Oct 19 - Egypt's GASC to suspend price advantage for NNC in wheat import shipments, traders say 

Egypt's state commodities buyer GASC is to suspend a 15% price advantage given to Egyptian state shipping line National Navigation Company (NNC) to transport wheat GASC has purchased in its tenders, traders in Egypt and Europe said on Tuesday. The change will take place starting from GASC’s next purchase tender, they said.

Oct 19 - S.African port operator Transnet restores some operations at Richards Bay after fire  

South African monopoly port operator Transnet said on Monday it had restored many of its operations since a fire broke out at its Richards Bay terminal last week, but that it still needed to ensure affected areas where safe before resuming others. Richards Bay Bulk Terminal, Africa's largest coal export facility, is one of seven commercial ports that Transnet operates.

Oct 18 - French wheat, barley shipments outside EU ease in September  

French soft wheat shipments outside the European Union dropped in September following a strong August, Refinitiv data showed. Soft wheat exports to destinations outside the 27-country bloc totalled 695,400 tonnes in September, the third month of the 2021/22 season, an initial estimate based on Refinitiv loading data showed.

Oct 15  - Bunker prices rise amid tightness, firming crude

 - Consistent Singapore HSFO contract amid supply chain concerns
- European FOGO widens amid weak VLSFO
- Tight VLSFO, rising prices at Houston

Oct 15  - European fuel oil exports to Asia fall to one-year low: Kpler
Commodity data company Kpler estimates that 109,000 mt of European fuel oil will arrive in Asia in the week ended Oct. 17, down from the 330,000 mt that arrived the previous week, and the lowest amount since 88,000 mt in the week ended Oct. 11, 2020.

Oct 15  - Some port operations in Italy disrupted by industrial action

Port workers have blocked one of the entrances to the port of Genoa and were holding a demonstration in front of the administrative offices.

Oct 15  - Operations disrupted at Russia's Black Sea port of Novorossiisk by storm

Loadings of tankers have been suspended, with two crude tankers and one diesel vessel running behind schedule.

Oct 15  - Platts to amend volumes for Panama bunkers assessments
Platts will change the ex-wharf volume range for all Panamanian assessments of Marine Fuel 0.5%S and IFO 380 to 500-1,000 mt. The current range is 500-1,500 mt for Balboa, Cristobal and the Panama Canal, which reflects the lower of the two ports on occasions when the two diverge.

Oct 15  - ARA fuel oil stocks rise 6% on week to 1.107 million mt: Insights Global
Low sulfur and very low sulfur fuel oil continued to rise last week, outpacing high sulfur fuel oil.

Oct 15  - Americas Aframax freight spikes nearly 68% amid shift in weakening WTI arb environment
Market participants have attributed the previously favorable arbitrage and overall increased demand heading into the fourth quarter as a drain on the number of ships positioned in the region.

Oct 15  - Port workers in Italy threaten to strike Oct. 15 over COVID-19 passes
From Oct. 15, all workers in Italy need to provide proof of vaccination, proof of having recently recovered from COVID-19 or a negative test result in order to be able to work.

Oct 15  - Japan Aug bonded bunker fuel exports rise 7% on year to 2.9 mil barrels
Industry sources attributed the year-on-year rise to the low base in 2020, when the impact of pandemic restrictions restrictions on the economy was significant.

Oct 15  - Singapore Q4 delivered HSFO bunker premiums rise $3-$5/mt from Q3 amid limited availability
A Singapore-based trader said shipowners have maintained requirements for delivered HSFO quarterly term contracts because low inventories have led to suppliers turning away demand for spot requirements.

Oct 15  - AET completes first LNG bunker operation in US
The operation is an example of the rapid extension of LNG bunkering facilities in the US allowing LNG supply for trans-Atlantic tanker routes between Europe and the US, AET said.

Oct 15  - Singapore Residual stocks rise 4% on week on lower exports
The latest rise came with a decline in fuel oil exports.

Oct 15  - Bunkering resumes at Hong Kong post Cyclone Kompasu
Bunker suppliers suspended operations at the ports Oct. 12 when the Hong Kong Weather Observatory released a No. 3 typhoon warning, which is issued when wind speeds reach 41km/h to 62km/h, S&P Global Platts reported previously.

Oct 14 - Platts discontinues European LSFO bunker assessments on Oct. 6
S&P Global Platts has discontinued its low sulfur fuel oil 380 CST bunker fuel assessments in Genoa and Piraeus on Oct. 6, 2021.

Oct 14 - Maersk invests in renewable lignin producer
Container giant AP Moller-Maersk said Oct. 14 it is investing in Vertoro, a Dutch startup developing liquid lignin technology which can be used as a marine fuel, as it explores avenues to decarbonize its operations.

Oct 14 - European HSFO confounds expectations with continued strength in 2021

An increased outlet for HSFO comes in the form of sustained demand from the marine fuel sector, despite the International Maritime Organization's sulfur cap reduction for marine fuels.

Oct 14 - Hong Kong Aug fuel oil imports rise 7.3% on year to 3.34 mil barrels
A high valuation and prices of FOB Singapore 380 CST HSFO cargo put off imports of the high sulfur grade of fuel into the Hong Kong bunker market, a trader said.

Oct 14 - Japan delivered 380 CST high sulfur bunker fuel climbs to 4-month high on low inventories
ENEOS' decision to hike its bunker price suggests that delivered bunker fuel premiums at Tokyo Bay will rise in line with this increase, making delivered high sulfur bunker fuel at Tokyo Bay pricier compared with neighboring North Asian ports, a Japan-based trader said.

Oct 14 - US marine fuel 0.5%S near record high on rising distillates market
Larger macroeconomic factors that have driven up global distillates markets have pushed marine fuel 0.5%S to near record highs in the US despite relatively steady fundamentals.

Oct 14 - Singapore oil terminal hit by COVID-19, limited impact on bunker price: traders
Universal Terminal, or UT, located at Jurong Island, is the largest terminal in Singapore, boasting a 2.36 million cu m storage capacity.

Oct 14 - Platts launches eWindow instrument for European bunker assessments on Oct 14
Participants in the Platts Market on Close assessment process can submit bids, offers and trades for publication directly through the eWindow communication tool or through an editor, who would then publish the information using the software.

Oct 14  - FBX Weekly Overview (Freightos)

- Asia-US West Coast prices (FBX01 Daily) increased 4% to $17,377/FEU. This rate is 349% higher than the same time last year.

- Asia-US East Coast prices (FBX03 Daily) increased 7% to $20,695/FEU, and are 342% higher than rates for this week last year.

- While Typhoon Kompasu complicates operations in Southern Chinese ports, the backlog of more than 150 ships causing delays out of Shanghai and Ningbo has been cut in half over the last couple weeks.  
- The Golden Week holiday and the lower manufacturing output in the region due to the recent power restrictions could have provided some respite to start clearing the backlog. And with end-to-end deliveries through the snarled supply chain often taking longer than the ten weeks left before Christmas, it is likely peak season demand is also on the wane.
- Though Asia-US West Coast container rates climbed 4% since last week, they are still 16% below their September peak, reflecting the drop in demand. But the improvement of conditions in Shanghai or a restoration of electricity and production could still mean new surges of vessels arriving at congested ports like LA/Long Beach, shifting the backlog to the destination ports.  
- The Biden administration announced new measures to extend the hours that trucks can access the ports of LA and Long Beach in hopes of clearing the backlog and its knock-on effects on the economy. But with a significant share of current trucking slots already going unused  – and with few takers for the extra hours of a recent 24/7 pilot at Long Beach –  the move will require the coordination not just of trucks, but of warehouses, container yards, retailers and other players to have a significant impact.
- And the National Retail Federation projects that October US retail ocean imports were down only slightly from September, and expects volumes to dip only 3% by December – meaning that during the typical December “lull” volumes will be 20% higher than in 2019.

So while importers will gladly take the dip in rates after nearly a year and a half of increases, sustained congestion and demand are expected to keep delays and elevated rates a reality, possibly into 2023.

Oct 13  - Fujairah Q4 ex-wharf low sulfur marine fuel premiums dip on sluggish spot demand: sources
Traders attributed the pickup in spot premiums to a short-term surge in demand for prompt delivery slots amid a backlog triggered by a three-day bunkering suspension in early October due to Cyclone Shaheen.

Oct 13  - Zhoushan, Shanghai halt bunker operations amid Cyclone Kompasu:
"Barge availabilities are tight now and this cyclone will only make the situation tighter," said the second bunker supplier.

Oct 13  - Singapore Sep bunker sales dip 3% on month to 3.935 mil mt
Bunker demand had only picked up during the last trading week of September in line with the brief softening in crude markers, industry sources said.

Oct 13  - Oil product stocks fall in Fujairah after middle distillates plunge 33%
Barges at Fujairah were loading fuel oil out of inventories to fill orders delayed by Cyclone Shaheen, which hit Oman just south of Fujairah on Oct. 3, traders said. That left low sulfur fuel oil stocks limited, they said.

Oct 13  - Renewable hydrogen could enable 80% reduction in global shipping emissions by 2050: IRENA
IRENA said announced projects for renewable ammonia will total 17 million mt/year of production capacity by 2030.

Oct 13  - Delivered Marine Fuel 0.5% premiums at Zhoushan fall as suppliers make competitive offers
Suppliers at the Eastern Chinese port of Zhoushan made determined offers Oct. 12 in a bid to cement Zhoushan's position as a key bunkering hub with competitive prices, market sources said.

Oct 13  - Supramax rates in US Gulf market hit all-time high amid supply shortage
Supramax freight rates in the US Gulf surged to their highest levels on record during the week ending Oct. 8, as a surge in demand collided with exceptionally tight tonnage supply in the region.

Oct 13  - Asian medium sulfur fuel oil prices firm as supply tightens for Oct loadings
Higher prices for medium sulfur fuel oil can crunch margins for traders when blending costs are high. The market for the finished product 0.5% sulfur fuel oil has been lackluster and blending component values are rising.

Oct 13 - Argentina says corn exports 'open' despite policy row with farmers 

Argentina's corn export market remains "open" despite a new government policy that prioritizes crops that are already harvested over forward sales of the upcoming crop, the agriculture ministry said on Tuesday. The 2021/22 crop is currently being planted in the world's second biggest corn exporting country. The government said it wants to sell last season's corn before approving more exports of the upcoming crop, which will not start to be harvested for another five months. 

Oct 13 - Dubai's DP World, UK's CDC to invest up to $1.7 bln in Africa  

Dubai ports giant DP World and Britain's development finance agency CDC Group on Tuesday said they planned to jointly invest up to $1.72 billion in logistics infrastructure in Africa over the next several years, starting with modernising three ports. The investments will initially focus on expanding ports operated by DP World in Egypt's Ain Sokhna, Senegal's Dakar and Berbera in Somalia's breakaway region of Somaliland, CDC said.

Oct 12  - Delivered marine fuel 0.5%S spread between Singapore, Hong Kong narrows to four-month low
Oversupply of low sulfur fuel oil bunkers at the port of Hong Kong led to the delivered spread between Hong Kong and Singapore narrow to a four-month low Oct. 11, market sources said.

Oct 12  - Port of Rotterdam's freight railway to close Nov. 2-7
The port authority and its project partner ProRail both declined to say if loading and discharge operations for shipping would be affected during the closure and which commodities would be most impacted.

Oct 12  - Operations at Russia's Black Sea port of Novorossiisk getting back to normal
Bunker operations have also been affected during the stormy weather.

Oct 12  - Asian refiners set to cut LSFO output on higher gasoil, gasoline margins:
Low sulfur fuel oil components such as atmospheric residue and vacuum residue are now being used as feedstocks for residue fluid catalytic crackers and fluid catalytic crackers, instead of blending into low sulfur fuel oil, market sources said.

Oct 12  - India's Adani Bunkering starts HSFO supply in Mundra, other Gujarat ports

Increased number of scrubber-fitted vessel in the water and Mundra's world class bunkering infrastructure has encouraged Adani to continue its legacy of market leadership with the strategic supply of HSFO at Mundra, the company told S&P Global Platts Oct. 12.

Oct 12  - Colombo delivered marine fuel 0.5%S premiums over 3-month low on lukewarm demand
The firming flat price and volatility in crude markers have led shipowners to hold off inquiries, industry sources said.

Oct 12  - Heating oil demand drives ARA gasoil to surprise parity with ULSD

Rising demand for heating oil for the coming winter season has pushed cash differentials for 50ppm gasoil barges in the Amsterdam-Rotterdam-Antwerp hub up to parity with 10ppm ULSD, an usual occurrence due to 50ppm's higher sulfur content.

Oct 12  - October ICE LSGO delivery at 670 lots: ICE
Physical delivery against holders of the October ICE low sulfur gasoil futures contract, which expired at midday London time Oct. 12, amounted to 670 lots, or 67,000 mt, according to ICE data.

Oct 12  - Taiwan's CPC buys 80,000 mt LSFO for Nov-Dec delivery from Shell
CPC occasionally buys LSFO with maximum 0.3% sulfur on behalf of Taiwan Power Co., or Taipower, which consumes LSFO at its power plants. CPC also exports LSFO when it has stocks available.

Oct 12  - Singapore Q4 delivered low sulfur marine fuel premiums steady from Q3 on tepid demand, ample supply
Quarterly term contracts serve as a key avenue for bunker sales, and lukewarm spot demand was currently keeping Singapore well-supplied with the IMO-compliant bunker fuel, traders said.

Oct 12 - Cargill loads soy shipment in Texas after Ida damages Louisiana terminal 

The first bulk U.S. soybean cargo from the Texas Gulf Coast in about six months was loaded and shipped last week from a Cargill Inc terminal, in a sign of shifting trade flows in the wake of Hurricane Ida, traders and shipping sources said. The vessel Spar Rigel was loaded early last week with about 55,000 tonnes of soybeans at Cargill's Houston terminal, an outlet that typically loads mostly wheat and sorghum grown nearby, according to a shipping vessel lineup seen by Reuters.

Oct 11  - UK's Harbour Energy granted CO2 storage license for Humber refining region
Several carbon capture and storage projects have been announced in the run-up to COP26 climate talks in Glasgow in November, following a lack of progress implementing the technology on an industrial scale under previous governments.

Oct 11  - Asia residual fuels: Key market indicators for Oct 11-15
Premiums for Fujairah-delivered marine fuel 0.5%S is likely to stay supported in the short term due to tightness in low sulfur fuel oil inventories, sources said.

Oct 11  - Fujairah delivered marine fuel 0.5%S premium over 5-month high on limited barge availability
Barges are kept busy and bunker delivery schedules are congested, a Fujairah-based bunker supplier said.

Oct 11  - Americas Bunkers Key market indicators Oct. 11-15
Spot bunkers assessments throughout the Americas trended higher the first week of the month on support from a stronger US crude complex, and entered the week of Oct. 11-15 monitoring global fundamentals as weak demand persists in many key ports.

Oct 11  - Europe and Africa Residual / Marine Fuel  Key market indicators
Traders said the 0.5%S complex has lost steam as demand from the utility sector was easing from its recent uptick.

Oct 11 - Brazil soymeal exports soar as drought disrupts Argentina export route 

Soymeal shipments from Brazil's Paranagua port jumped in September driven by strong demand and a drought that has disrupted a traditional logistics route via Argentina. In a statement sent to Reuters on Friday, Brazil's Paranagua port authority said exporters shipped 419,314 tonnes of soymeal last month, a 35% rise from August and almost 33% up from the same month a year ago.

Oct 08  - Some operations resume at Russian port of Novorossiisk as wind drops

Operations at the port have been affected by a storm that started Sept. 27.

Oct 08  - Singapore Residual stocks rise 11% on week to 20.8 mil barrels
Bunker demand in Singapore has slowed as crude prices jumped in the week, according to traders.

Oct 08  - Global tankers Q4 freight, earnings to rise as demand strengthens
"Tankers are cyclical and so from current dismal levels the only way is up," Hammer said.

Oct 08  - Malaysia's Petronas conducts first LNG bunkering operation in Sabah
This latest effort signifies a major step towards developing Malaysia as an LNG bunkering hub, Tamrin said.

Oct 08 - Greece completes transfer of 16% stake in Piraeus port to COSCO 

Greece's privatisations agency transferred shares corresponding to a 16% stake in Piraeus Port Authority to Chinese port operator COSCO Shipping after an amendment to a previous concession agreement, it said on Thursday. Last month Greek lawmakers amended a deal with COSCO allowing it to raise its stake in Greece's biggest port of Piraeus, paving the way for Greece to secure a major investment. 

Oct 07  - Hi-5 Rotterdam barge spread plummets to 10-month low

"Hilos are in freefall...[and] so are low sulfur cracks," a trader said.

Oct 07  - Singapore VLSFO-HSFO spread falls to 10-month low amid slower VLSFO spot sales
"I don't think there's any particular bullishness in the [HSFO] bunkers side, I think sales are quite stable," a barge owner said.

Oct 07  - Mumbai bunker suppliers face limited low sulfur fuel oil availability

Suppliers are indicating around Oct. 10-11 for new inquiries due to the supply situation, a trader said.

Oct 07  - International Chamber of Shipping submits R&D fund, carbon levy plans to IMO for net zero goal
"So, our net zero offering sets out the 'how' as well as the 'what' for decarbonizing shipping by 2050," Poulsson, said.

Oct 07 - Australia watchdog to probe Qube takeover of Newcastle grain terminal 

Australia's competition regulator said on Thursday it would investigate potential issues arising from logistics firm Qube Holdings' recent acquisition of a bulk grain terminal at the Port of Newcastle in New South Wales. Qube on Sept. 8 said it would buy the Newcastle Agri Terminal for A$90 million ($65.55 million) and finished the transaction by the end of last month.

Oct 06 - Bunkering demand firms in Hong Kong as ships divert from China during holiday

Bunkering operations continue at the major ports of Zhoushan and Shanghai, but availability has tightened.

Oct 06 - Singapore delivered LSMGO bunker differential at 2-year high amid gains upstream

"Due to the wide differential, the optionality to switch clearly leans toward the cheaper Marine Fuel 0.5%S than LSMGO for buyers' in-port consumption," a Singapore-based bunker supplier said.

Oct 06 - FBX Overview (Freightos)

- Asia-US West Coast prices (FBX01 Daily) increased 4% to $16,749/FEU. This rate is 330% higher than the same time last year.

- Asia-US East Coast prices (FBX03 Daily) also climbed 4% to $19,429/FEU, and are 315% higher than rates for this week last year.

- With production in China slowed during the Golden Week holiday and by power restrictions in some areas, and with ocean delays making it increasingly unlikely that shipments not already moving will make it in time for the holidays, transpacific ocean rates stayed level this week after a significant drop a week ago. But rising oil prices could mean that carriers will increase fuel surcharges at the end of the month pushing rates back up.
- Despite the current drop, worsening port congestion and delays at LA/Long Beach are still keeping Asia-US prices extremely high at more than quadruple their level a year ago. The congestion – as well as the sky-high value of an empty container back in Asia – may also be responsible for pushing North America-Asia export rates up more than 10% this week to more than $1,000/FEU from both coasts.
- The epic delays at LA/Long Beach have sent many importers looking for other options. But that shift in volumes is now causing congestion at West Coast alternatives like Seattle and Vancouver, and East Coast ports like New York/New Jersey and Savannah.
- The non-stop disruptions to the supply chain are impacting many of the biggest importers along with smaller shippers. Major retailers like Home Depot and Costco have recently chartered their own container ships to secure some ocean space. This week’s latest example of importer creativity came from Coca-Cola, which announced that it avoided the container market completely for a recent 60K ton shipment moved in sacks aboard a bulk carrier instead.

Oct 06 - LNG shipping rates climb to multi-month highs on demand for vessels 

Freight rates to ship liquefied natural gas (LNG) rose to multi-month highs this week as a surge in demand for the super-chlled fuel has increased the need for vessels to move supplies, multiple trade and shipping sources said. The daily charter rate for a tri-fuel diesel-electric (TFDE) vessel that can carry 160,000 cubic metres of LNG to Pacific basin ports rose to $76,000 a day on Tuesday, the highest since February, according to data from Spark Commodities. 

Oct 05 - Low-sulfur and very low-sulfur fuel oil differentials drop sharply on the week
Power generating companies were observed to switch to fuel oil as a cheaper alternative, according to market sources. Until last week, fuel oil grade differentials have largely stayed range bound as the entire fuel oil complex pushed higher.

Oct 05 - Crude extends gains on OPEC+ decision to stick with agreed output

Many market participants had assumed a bigger output increase was forthcoming, due to the ongoing supply tightness and the fact that additional demand for oil could be as great as 1 million b/d as some power plants switch to oil instead of natural gas, which has recently reached record high prices.

Oct 05 - ICE HSFO, LSFO open interest rises on uptick in physical activity for September

Pakistan, which has been a big buyer of 180 CST HSFO, had increased its fuel oil purchasing activity in the third quarter to make up for cancellations of spot LNG cargoes during peak summer season, according to traders based in the UAE.

Oct 04  - September fuel oil barge volumes traded in London MOC rise 6.6% on month
Fuel oil complex was reportedly tight during the month of September, providing support to the complex. Tight supply fundamentals came from dynamics in Asia, as well as high natural gas prices.

Oct 04  - Japan's IMO-compliant domestic bunker contracts for Q3 settles at Yen 69,400/kl
The settled quarterly price, widely used by bunker fuel suppliers and shipowners in Japan's domestic market, is decided by representatives of fuel oil suppliers and shipping companies in quarterly discussions, with companies taking turns each quarter in handling the discussions.

Oct 04  - Global oil demand 'very healthy', lack of investment could send prices higher: Aramco CEO
Some of the reasons are short term, he said, such as high electricity costs in the UK and Europe in general and a shortage of natural gas, estimating the switch from gas to oil at some 500,000 b/d.

Oct 04  - Bunkering delays expected at Fujairah, backlog building
Traders said the backlog has intensified due to robust bunker demand on the first trading day of the week, as some buyers had not been deterred.

Oct 04 - Sudan running out of essential medicine, fuel and wheat due to port blockade 

Sudan is about to run out of essential medicine, fuel and wheat after political protests forced the closure of Port Sudan, the main port in the east of the country, the cabinet said on Sunday. Members of eastern Sudan's Beja tribes have blocked roads and forced Red Sea ports to close in recent weeks in protest at what they say is the region's lack of political power and poor economic conditions there. 

Oct 04 - Zambia to export over 1 mln tonnes maize after bumper harvest 

Zambia will export more than 1 million tonnes of white maize in a bid to stimulate private sector involvement and enhance trade in agricultural commodities, Agriculture Minister Mtolo Phiri said on Friday. Zambia's maize production rose 7% to 3.62 million tonnes in the 2020/2021 crop season from 3.38 million tonnes in the previous one, the highest in the nation's history on the back of good rains and improved farming methods.

Oct 01 - Brazil port regulator targets Bunge, two port agencies in probe 

Brazil's port regulator targeted the local unit of global grains merchant Bunge and two port agents in an investigation announced on Tuesday, threatening the trader's dominant position at a key export hub in the south of the country. The probe, ordered by port regulator Antaq via regulatory decision in the official government gazette, centers on alleged irregularities in a contract to move grain cargos at public terminals in the port of São Francisco do Sul.

Oct 01 - Panama aims to end coal imports, produce ethanol to cut emissions – minister 

Panama will advance a clean-energy push by embracing ethanol in its gasoline and ending the use of heavy fuels and coal for its power plants by 2023, the nation's energy minister said. Even though Panama promotes itself as being carbon-negative, the Central American nation wants to further diversify its sources of electricity generation, cut emissions from transportation and expand its regional power interconnections.

Sep 30 - FBX Overview (Freightos)

- Asia-US West Coast prices (FBX01 Daily) dropped 16% to $16,153/FEU. This rate is still 311% higher than the same time last year.

- Asia-US East Coast prices (FBX03 Daily) decreased 16% as well to $18,711/FEU, and are 295% higher than rates for this week last year.

Sustained demand and spiking rates have led ocean carriers to add significantly more capacity to the transpacific trade lane. But operational capacity at ports can’t be increased quite as easily. With ports already overwhelmed, those additional ships are contributing to the climbing number of vessels floating outside the ports of LA/Long Beach and now to a growing backlog off the coasts of Shanghai and Ningbo as well.  

But the additional capacity – as well as possible decreases in the availability of exports due to power outages affecting some manufacturing in China, and COVID shutdowns reducing productivity in Vietnam – may still have been enough to push transpac rates down this week.  The dip may also hint that the peak of peak season demand – with delays making it possible that shipments not already en route may not make in time for the holiday season – could be behind us.

Sep 29  - Shanghai-delivered 380 CST high sulfur bunker fuel premium hits eight-month high on tight supply 

The premium for Shanghai-delivered 380 CST high sulfur bunker fuel hit an eight-month high on the back of tight supply, market sources said Sept. 29.

Sep 29 - CHS Inc restarts Myrtle Grove, Louisiana, grain export terminal after Ida 

A hurricane-damaged grain export terminal in Myrtle Grove, Louisiana, owned by farm cooperative CHS Inc has resumed operations following a month-long closure after Hurricane Ida flooded the facility and knocked out power, the company said on Tuesday. A vessel is docked at the terminal and the facility is operating on generator power, but CHS expects utility power to be restored by the end of the week, a CHS spokesperson said. 

Sep 28  - Marine fossil fuels to dominate by 2050, but volumes to drop: Integr8
Fossil fuels in the marine sector are still likely to dominate the supply scene by 2050 despite tougher climate regulations, as attention shifts towards greater efficiency to meet emission targets instead, marine fuels management company Intergr8 said in a report released Sept. 28.

Sep 28  - Port of Fujairah expecting record throughput for liquid bulk in 2021: executive
Fujairah Oil Terminal, or FOT, the largest independent storage terminal at the port by throughput, has begun a $45 million project to connect its crude oil tanks to the port's VLCC loading facility via the Matrix Manifold 2 and to ADNO's ADCOP pipeline, in a bet on a surge in oil trading from the newly started Murban futures on the ICE Futures Abu Dhabi exchange.

Sep 28  - APPEC: Asia oil demand approaching pre-pandemic levels as recovery gains steam
Higher demand for fossil fuels gasoline and diesel was leading the recovery in Asia, with the consumption in some countries already past the pre-pandemic levels, but weak jet fuel demand was a drag.

Sep 28  - South Korea-delivered Marine Fuel 0.5%S bunker fuel premium hits 3-month high on tightening supply
The SK Energy and Hyundai Oilbank units performing maintenance in October will likely dent refinery output and tighten supply that could cause premiums to rise further, traders said.

Sep 28  - Singapore delivered 380 CST HSFO premiums rise to 17-month high
Industry sources said that the strong buying of HSFO by consumers in the Middle East for power generation had reduced inventories of the grade in Singapore.

Sep 27  - Americas Bunkers Key market indicators Sept. 27-Oct. 1
Spot marine fuel markets throughout the Americas entered the week Sept. 27-Oct. 1 riding a bullish wave tied to the US crude complex, with weak demand fundamentals persisting for many ports and keeping gains in check.

Sep 24 - Britain to resolve trucker shortage swiftly, minister says 

British Transport Secretary Grant Shapps said the country's shortage of truck drivers shouldn't last long as the government had sped up the number of HGV tests available. "Many more tests are being made available now so we should see it smooth out fairly quickly," Shapps told Sky News on Friday, adding that the number of tests had been doubled.

Sep 23 - Tanker rates unprofitable for the next 12 months: BIMCO
- Uneven distribution of vaccines limits upside for rates
- Geopolitical volatility supportive for tanker rates

Sep 23 - China Aug transport fuel output slides 10% on year amid soft domestic demand
Platts reported Sept. 20 that a source with a state-owned refinery said there was a possibility that some gasoil volumes "are reported as fuel oil under the category of Light Bunkering Fuel Oil in order to save consumption tax."

Sep 23 - Fujairah Oil product inventories at lowest level since reporting began in 2017

Heavy residue inventories fell 6.6% to 6.980 million barrels, the data showed, driven by a fuel oil market East of Suez that has seen fewer flows from the West, while soaring natural gas prices have prompted power plants to switch feedstock to fuel oil, according to traders.

Sep 23 - UK's Harbour Energy drops 250 mil barrel Falkland Islands oil project opposed by Argentina
London-listed Harbour Energy said Sept. 23 it was pulling out of a project to develop the Sea Lion oil discovery offshore the Falkland Islands, which has been bitterly opposed by Argentina and is thought to hold some 1.7 billion barrels.

Sep 23 - US Gulf Coast HSFO highest since April 2019 on soaring Brent futures
High sulfur fuel oil on the US Gulf Coast neared a two-and-a-half year high Sept. 23, rising along with the highest Brent futures since October 2018.

Sep 23 - Maersk invests in DAC technology to boost methanol use as sustainable bunker fuel
The US startup is developing tools to filter atmospheric CO2 for use in the production of net zero methanol, gasoline, diesel and jet fuel, according to company statements. The fuels will cost the same as their hydrocarbon-based equivalents, according to Prometheus Fuels' website.

Sep 22 - FBX Overview (Freightos)

- Asia-US West Coast prices (FBX01 Daily) decreased 7% to $19/182FEU. This rate is still 417% higher than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) went unchanged at $22,186/FEU, and are 393% higher than rates for this week last year.

Typhoon Chenthu – which had the potential to be the latest cause of the string of logistics disruptions in China this year – shifted east before making landfall near Shanghai last week.

With the potential crisis averted, and with the recent cap on spot rates from some carriers in place, ocean rates were stable overall this week, with Asia-US West Coast rates even declining slightly.

But transpacific demand remains in high gear, and carriers continue to add capacity in response.  To do so when basically all of the globe’s container ships are already active, carriers are moving capacity from secondary lanes to the transpac, complicating things for shippers on those lower-profile routes.  There are about 40% fewer ships servicing the Asia-Middle East lane than originally scheduled, and transatlantic rates have increased 16% so far this month to a record high quadruple its level a year ago.

Unfortunately, that transpacific capacity is increasingly stuck waiting at US destinations like LA/Long Beach. Though the main West Coast gateway announced extended gate hours for trucks to collect containers and speed operations, a new record of more than 70 ships are currently waiting an average of nine days for a berth to open up.

Overwhelmed trucking, warehouse and rail logistics are also contributing to the port delays, and to the overall slog in end to end logistics. marketplace data shows that so far this month China-US ocean shipments are taking an average of 73 days to arrive at their final destination, 83% longer than in September 2019.

Durations like those mean that, with the holidays rapidly approaching, goods that don’t ship soon may not make it in time. This pressure is adding to the trend of ocean to air conversions which, together with COVID restrictions and air cargo capacity constrained by the lack of passenger jet activity, are pushing air cargo rates in and out of Asia ever closer to the highs only seen during last year’s rush on PPE.

Freightos data shows that rates from Shanghai to the US increased 2% this week, but are 276% higher than before the pandemic, and have increased 19% in the past month.

Sep 22 - Rotterdam marine fuel oil crack spread reaches nine-week high
On the supply front, traders have estimated the arrival of marine fuel oil cargoes in Singapore during October to be below 2 million mt, lower than September's estimated levels of 2.2 million-2.3 million mt.

Sep 22 - Asian marine fuel 0.5% crack spread hits near 4-month high on tight supply, lower output
On the supply front, traders surveyed by S&P Global Platts estimated arrival of low sulfur fuel oil cargoes in Singapore during October to be below 2 million mt, lower than September's estimated levels of 2.2-2.3 million mt.

Sep 22 - Tokyo Bay 380 CST bunker premium to Singapore falls to 13-month low on weak demand
Spot enquiries were weak, as many buyers were looking to negate the volatility in crude prices by buying on term basis rather than in the spot market, a bunker trader in Japan said.

Sep 22 - Singapore Oct ex-wharf marine fuel 0.5%S term contracts done at $3-$4/mt, Sep term done at $4.25/mt
Industry sources said that deals concluded for October-loading ex-wharf term contracts weakened on ample supply of the IMO-compliant bunker fuel grade at the port of Singapore, which was also affected by the tepid downstream demand for the delivered grade.

Sep 22 - US Atlantic Coast 0.5%S marine fuel highest since January 2020
Very low sulfur fuel oil markets in the US rose with the US crude complex and international VLSFO indicators Sept. 22, with New York Harbor barges reaching a 21-month high.

Sep 22 - Freight rates slightly higher on Chinese port congestions (AgriCensus)

Freight rates for dry bulk commodities lifted for the second consecutive week in most routes monitored by Agricensus, supported by ongoing port congestion in China and higher fuel costs.

Congestion at Chinese ports remains a key element tightening global freight markets with large port stocks creating bottlenecks and vessel queues.

"The increase in freights is still due to port congestions as high stocks on Chinese ports continued to rise over the week," a Chinese freight trader told Agricensus.

Logistical bottlenecks at Chinese ports are still linked to Typhoon Chanthu that hit the Chinese coast on September 13.

“After the typhoon, congestion has returned in China across all four vessel sectors; capesize, panamax, supramax and handymax," another freight trader said.

Congestion is also underpinned by recent Covid outbreaks, according to trade sources, with enhanced quarantine measures causing additional delays.

"Port operations are probably impacted by the recent Covid outbreak at Putian ports," the Chinese trader said.

The port city of Putian, with nearly 2 million inhabitants, has been in lockdown since September 10 due to one of the most severe Covid outbreaks reported in China recently.

Besides port congestions, fuel costs trended higher over the past week, contributing to buoy the freight market.

Freight costs for most routes monitored by Agricensus increased mildly over the week with panamax rates between US Pacific Northwest ports and China up 33 c/mt to $44.56/mt and those for shipments from southeastern Brazil to China up 29 c/mt to $66.62/mt.

Panamax rates from US Gulf ports to China were broadly steady on the week at $81.18/mt as operations progressively resume following Hurricane Ida-related disruptions.

Cargoes crossing the Atlantic from the Americas to Europe lifted 10-14 c/mt on the week with panamax routes from Brazil and the US Gulf to the Netherlands assessed at $22.37/mt and $32.10/mt, respectively.

In the Black Sea region, panamax freight rates for cargoes heading to China lifted 28 c/mt to $65.18/mt while vessels crossing the Mediterranean to North Africa were heard at $35.00/mt, up by $2.46/mt on the week as North African demand has been robust.

Sep 21 - South Korea 380 CST high sulfur bunker fuel premiums hit 8-month high on tight supplies
HSFO supplies at South Korea are now tighter with only GS Caltex able to provide HSFO for bunker delivery, a South Korea-based trader told Platts on Sept. 21.

Sep 21 - Zhoushan ex-wharf Marine Fuel 0.5%S bunker premium hits new high on supply tightness
Supplies have been getting tighter in the Zhoushan ex-wharf 0.5%S marine fuel market due to decline in domestic low sulfur fuel oil production, market sources said.

Sep 21 - Hong Kong 380 CST high sulfur bunker premium hits 11-month high on tight supply
" A cargo was supposed to arrive yesterday but it was delayed. It is likely to remain tight until Sept. 28-29," said a Hong Kong-based bunker trader Sept. 21. "Hong Kong is a dependent market."

Sep 21 - Petrobras to retain over half of fuel oil, bunker production in Brazil after refineries' sale
The scheduled sale of eight of its refineries would leave Brazil's state-led oil company Petrobras in control of around half of the country's annual production of fuel oil and bunker fuel, according to data from the country's National Agency of Petroleum, or ANP.

Sep 21 - Maersk fuel partner sees ample feedstock for bio-methanol bunkers
Bio-methanol for bunker fuel developed from municipal waste has ample feedstock to draw on despite concerns that as a biofuel it raises issues of availability, according to Trevor Neilson, CEO of renewable fuel developer WasteFuel.

Sep 21 - Vitol launches ARA bunker services
Commodity trader Vitol, which launched its bunker trading arm Vitol Bunkers in May, will offer bunker supply services at the Amsterdam-Rotterdam-Antwerp hub from Oct. 1, the company said Sept. 21.

Sep 20 - EUROPE AND AFRICA RESIDUAL AND MARINE FUEL: Key market indicators this week
HSFO bunker fuel was strong at the end of last week, as prices reached their highest level since July.

Sep 20 - Asia middle distillates: Key market indicators for Sept 20-24
Asian middle distillate markets started Sept. 20-24 trading week on a steady note, as supply-side factors continue to boost sentiment in the gasoil sector while market participants in the jet fuel/kerosene segment await fresh pricing cues.

Sep 20 - EMEA middle distillates: Key market indicators for this week
European middle distillates market cash differentials were largely rangebound in the week to Sept. 17, amid stable fundamentals, with some length on the prompt in terms of jet fuel, and an unmoved demand picture for ULSD.

Sep 20 - AMERICAS BUNKERS: Key market indicators Sept. 20-24
North America's spot marine fuel markets registered mixed price movements entering the week Sept. 20-24, with market attention remaining on US Gulf Coast supply and logistics, along with global consumption forecasts.

Sep 20 - Weak demand for delivered Japan Marine Fuel 0.5%S pushes spreads, premiums to multi-month low
The lower premium is the result of weakened spot demand for Marine Fuel 0.5%S bunker fuel in Japan, as buyers preferred to purchase on a term contract basis due to the uptick in crude prices over the past two weeks, a Japan-based trader said.

Sep 20 - Asia residual fuels: Key market indicators for Sept 20-24
An optimistic sentiment was more apparent on the Asian high sulfur fuel oil front, where the market for both 380 CST HSFO and 180 CST HSFO were expected to remain firm going well into second half October loading trades. 

Sep 20 - Indonesia considers export tax for products with less than 70% nickel content 

Indonesia is exploring the possibility of levying an export tax on nickel products with less than 70% nickel content to drive expansion of its domestic processing industry, Investment Minister Bahlil Lahadalia said on Friday. Indonesia is keen to develop a full supply chain for nickel, from extracting ore from its rich nickel reserve to producing batteries and assembling electric vehicles (EVs) at home.

Sep 20  - Uganda's coffee shipments jump 34% in August, regulator says 

Uganda's coffee shipments jumped 34.9% in August from the same period last year buoyed by harvests from newly-matured trees and favourable weather, the industry regulator said on Friday. The East African country exported 700,990 60-KG bags of coffee, up from 519,683 bags shipped in the same month a year ago, according to a report by the sector regulator, Uganda Coffee Development Authority (UCDA).

Sep 17 - Vitol V-Bunkers plans electric-hybrid bunker tankers for Singapore harbor
The city-port has already launched a Maritime GreenFuture Fund to create ecosystems for trials and test-bedding of low-carbon technologies, and has recently also established a Global Centre for Maritime Decarbonization.

Sep 17 - Bunkering resumes at Shanghai, Zhoushan-Ningbo ports as Typhoon Chanthu passes
Industry sources that Platts spoke with expect barging schedules at the two ports to tighten in the near term as the ports are congested in the run up to China's National Day holidays over Oct. 1-7.

Sep 17 - India set to reduce HSFO exports on stronger domestic demand, higher LNG prices: trade
"The monsoon season will end and asphalt demand for road construction will restart. Then domestic demand [demand for heavy distillates] increases," a source at the refinery said.

Sep 17 - Singapore Residual stocks drop 12% Sep 9-15 to 21.3 mil barrels
Traders said that the active replenishing of barge cargoes out of terminals over the past week was likely to have reduced residual stocks in Singapore, though low sulfur fuel oil inventories remain ample.

Sep 17 - Bunker markets rise on firmer crude, post-hurricane uncertainty
Limited supply of 3.5%S fuel oil at Malta is expected to last into the coming week, while similar availability constraints for the product in Northwest Europe should ease.

Sep 17 - Tight supply of Singapore 380 CST bunker fuel boosts 500 CST demand
Shipowners upped their RMK requirements in lieu of RMG, a bunker supplier said.

Sep 17 - Hong Kong-delivered Marine Fuel 0.5%S premiums hit two-month low on weak demand
The weakness in the premium was attributed to dull demand from shipowners due to rising flat price at Hong Kong, market sources said.

Sep 17 - U.S. barge costs spike weeks after Hurricane Ida; CHS terminal under repair 

Barge freight costs for moving grains in the Midwestern United States spiked on Thursday due to ongoing logistical problems more than two weeks after Hurricane Ida, while CHS Inc said the timeline to reopen its terminal remains uncertain. CHS Inc, a farmer cooperative and grain trader, said it expected its Myrtle Grove, Louisiana, grain export terminal to be operational by the height of the U.S. corn and soy harvest but could not be more specific. 

Sep 16 - Bangladesh likely to raise HSFO imports in Sept; to skip spot LNG purchases

The higher imports came with rising demand for electricity, he said. Most of imported HSFO is used at power plants in the country.

Sep 16 - Shipping line MSC aims for zero emissions by 2050 without use of offsets
MSC has agreed to charter 11 new 15,300 twenty-foot equivalent unit LNG dual-fueled newbuild container ships from Eastern Shipping, a source close to MSC said in May.

Sep 16 - Shell to build major biofuel plant at site of Pernis refinery in Rotterdam
The company agreed the sale of four US refineries over the last year alone and in July it sold its minority stake in Germany's 220,000 b/d PCK Schwedt refinery.

Sep 16 - European fuel oil hilo spread reaches 19-month high
LSFO commonly sees increased demand as a power generation source in Mediterranean countries like Greece and Lebanon.

Sep 16 - Record ICE LSGO prices weigh on gasoil demand in Europe, WAF
Multi-year high ICE LSGO future prices are piling pressure on demand for gasoil prices, with end-users looking to delay stock replenishing in the hopes of future softening.

Sep 16 - Panama Canal Authority seeks 168,657 barrels of residual bunker fuel
The Miraflores Power Plant is operated by the PCA and is located at Miraflores Locks, on the country's Pacific Coast. Miraflores engines operate on diesel or bunker fuel. The plant is one of three used to provide energy for the Panama Canal Operation.

Sep 16 - Panama bunker sales up 0.4% on month to 388,640 mt in August
Bunker sales in Panama in August rose 0.4% month on month to 388,640 mt, which was 5.1% higher year on year and supported by a double-digit increase in the high sulfur fuel segment, data from the Panama Maritime Authority showed.

Sep 16 - Woes mount for U.S. soy shippers as China gives Brazil unusual nod - Braun 

Brazil’s soybean exports should be winding down at this time as the U.S. harvest takes center stage, though China’s cancellation of U.S. cargoes on Wednesday was likely evidence that export terminal damage along the U.S. Gulf Coast has spooked buyers. That has redirected business to Brazil for shipment in October and November, peak U.S. season, as Chinese buyers earlier this week secured up to six costly cargoes of the South American oilseed.

Sep 15 - South Korean ports suspend bunkering operations ahead of Typhoon Chanthu: sources

Bunkering operations at South Korea's southern ports of Busan, Ulsan and Yeosu have been partially suspended ahead of Typhoon Chanthu, market sources told SP Global Platts Sept. 15.

Sep 15 - BP to collaborate on shipping, industrial fuels with Japan's NYK Line
BP is to collaborate on fuels and transportation solutions in the shipping and industrial sector with Japanese shipping and logistics company NYK Line.

Sep 15 - European sea shipping companies freeze sea freight fares (IHSmarkit)

- CMA CGM will hold spot prices at current levels until February 2022
- Hapag-Lloyd will limit sharp increases in premium service prices

The French sea shipping company CMA CGM and the German Hapag-Lloyd have announced that they will limit rising prices for shipping services in the mid-term.

CMA CGM has announced that its shipping spot prices will be held until February 2022 despite most players predicting that bullish prices will continue in the long term.
“The group is prioritising its long-term relationship with customers in the face of an unprecedented situation in the shipping industry”, CMA CGM said.

In addition, German Hapag-Lloyd has announced that it would limit sharp increases in premium service prices, apart from a freeze in spot rates.
This decision may lead other large European sea shipping companies to follow suit.

Sep 15 - Louisiana grain terminal reopens after Hurricane Ida as Nicholas rains arrive 

Another grain export terminal near Louisiana's Gulf Coast shuttered for two weeks by Hurricane Ida restarted operations this week even as heavy rains from Tropical Storm Nicholas battered the region on Tuesday. Global grain trader Cargill Inc said it had reopened its Westwego, Louisiana, grain export terminal and on Monday unloaded its first grain barge since Ida came ashore on Aug. 29 and crippled shipments from the busiest U.S. grain export hub.

Sep 15 - Brazil port regulator targets Bunge, two port agencies in probe 

Brazil's port regulator targeted the local unit of global grains merchant Bunge and two port agents in an investigation announced on Tuesday, threatening the trader's dominant position at a key export hub in the south of the country. The probe, ordered by port regulator Antaq via regulatory decision in the official government gazette, centers on alleged irregularities in a contract to move grain cargos at public terminals in the port of São Francisco do Sul.

Sep 14 - Singapore 380 CST HSFO differential hits 20-month high on robust power sector demand
The Platts JKM -- Asian LNG benchmark -- rose to $21.828/MMBtu Sept. 13, the highest since Jan. 15, when it was assessed at $26.99/MMBtu, S&P Global Platts data, while the Singapore 180 CST HSFO cargo was assessed at $460.02/mt Sept. 13, or about $11-12/MMBtu.

Sep 14 - FBX Overview (Freightos)

- Asia-US West Coast prices (FBX01 Daily) went unchanged at $20,586/FEU. This rate is 453% higher than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) were also stable at $22,173/FEU, and are 395% higher than rates for this week last year.

- After fifteen consecutive months of ocean rate increases and a 7X climb in the FBX global benchmark, ocean carrier CMA CGM announced it would halt any further spot rate increases on all its services until February (Hapag-Lloyd shared that it had already capped their spot rates a couple weeks ago).

- The reprieve, though welcome, was met with skepticism from many in the industry that – with rates still sky high and the cap only applied to base rates and not to surcharges and premiums which could still increase – the announcement may be more for PR than anything else.

- Transpacific and Asia – Europe rates did in fact stay level this week. But that price stability will be put to the test in the coming days: Typhoon Chanthu is battering Shanghai with severe rain and winds expected to last through Thursday. With ports in Shanghai and Ningbo closed by the storm, backlogs and delays will effectively remove capacity while demand continues to surge.  

- The rebound in US consumer spending on services that started this summer and was seen as one key to normalizing ocean demand after peak season has receded as the Delta variant continues to spread. And with peak season in full swing, the latest National Retail Federation estimates had August’s US ocean imports 16% higher than in August 2019, and September not far behind. Other observers now do not expect any significant easing of demand (or rates) until summer 2022.

- Supply chain backups are also leading some small manufacturers in China to decline new orders as they struggle to ship finished goods and pay for raw materials with cash flows stalled, possibly representing a new challenge for some importers.

- Though air cargo rates out of China have stabilized as Pudong continued to recover from the recent COVID outbreak, the typhoon has closed airports around Shanghai, adding a new disruption to air cargo which could push prices up again soon.

Sep 14 - U.S. grain exports sink as Gulf terminals struggle to recover from Ida 

U.S. grain exports slumped to their lowest level in years last week as shippers struggled to restart loading operations along the Louisiana Gulf Coast after Hurricane Ida flooded and damaged grain terminals and knocked out power across the region, preliminary data showed on Monday. Weekly U.S. Department of Agriculture (USDA) grain inspections data, an early indicator of shipments abroad, showed the volume of corn weighed and certified for export last week was the lowest in 8-1/2 years as no grain was inspected along the Louisiana Gulf Coast, the busiest outlet for U.S. crops. 

Sep 13 - Singapore ex-wharf 380 CST bunker premium at multimonth high on thin availability
"Demand has far outstripped supply because [ex-wharf] suppliers have committed the majority of their available oil to meet term contract requirements for September-loading," a Singapore-based trader said.

Sep 13 - OPEC now predicts 2022 return to pre-pandemic oil demand, in bullish case for output hikes

In its closely watched oil market forecast released Sept. 13, OPEC raised its forecast of 2022 global demand growth to 4.15 million b/d, a hefty hike from last month's 3.28 million b/d.

Sep 13 - Singapore Aug bunker sales up 0.2% on month to 4.072 mil mt
Low sulfur (0.1%) marine gasoil sales were up 6.1% year on year and 3% month on month to 290,000 mt, while 0.5% MGO sales rose 6.8% month on month to 26,800 mt.

Sep 13 - UK call for zero global shipping emissions will need regulatory support, MBMs: asset manager
"It's an extremely ambitious target and not dependent solely on [the] shipping industry to deliver it," Tony Foster, CEO and CIO of marine asset manager Marine Capital said on the sidelines of a panel discussion during London International Shipping Week 2021.

Sep 13 - Argentina agrees short-term contract with Parana River dredger - gov't source 

Argentina's government has agreed a short-term deal with Belgian firm Jan de Nul to dredge the Parana River, a government source said on Friday, a move aimed at helping ships with grain exports navigate the waterway which currently is at record low levels. The Parana is at its lowest in 77 years due to a severe drought in Brazil where it begins. This has hit shipments while the state has a plan to take a more direct role managing the river, feeding industry worries about possible tariff increases.

Sep 13 - Brazilian truckers' Bolsonaro sympathy strike fizzles out 

A protest by Brazilian truckers loyal to President Jair Bolsonaro had largely fizzled out on Friday, a relief for industries that feared supply shortages. Brazil's infrastructure minister said in a statement early Friday that there were protests along highways in three states - Rio Grande do Sul, Santa Catarina and Rondonia - but no roads were blocked. That compared with 16 states that had registered highway protests earlier in the week.

Sep 10 - Zhoushan ex-wharf marine fuel 0.5%S bunker fuel premium hits record high $3.22/mt

Sep 10 - Ukraine to build new Black Sea export terminal to handle grains, vegoils 

Ukraine, a major exporter of agricultural products, plans to build a new export terminal at its Black Sea port of Pivdennyi near Odessa, the port said on Thursday. The construction is likely to start in 2022 and will last 44 months, it said in a statement, giving no project costs.

Sep 09 - FBX Overview (Freightos)

- Asia-US West Coast prices (FBX01 Daily) climbed 12% to $20,586/FEU. This rate is 499% higher than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) increased 11% to $22,173/FEU, and are 438% higher than rates for this week last year.

- Snarled ports and peak season demand pushed transpacific rates even higher to start the month, after a lull in increases for much of August.
- Record backups at the ports of LA/Long Beach are the major driver of delays that are effectively removing an estimated 20-25% of transpac capacity. Combined with still-surging demand for imports, these delays pushed Asia-US West Coast prices up 12% and past the $20k/FEU mark for the first time this week.
- As carriers again look to alternate West Coast ports like Oakland and now Portland, volumes have started causing backlogs in East Coast ports such as Philadelphia as well. Demand and delays are contributing to pressure on Asia-US East Coast rates which climbed more than 10% this week to a new high of $22,173/FEU.
- Transatlantic prices, which had been stable for the past two months, spiked 18% to $6,984/FEU. This new high – quadruple its level a year ago – is possibly a result of capacity being shifted to ex-Asia lanes.
- Clogged ports in Europe have kept steady upward pressure on rates from Asia as well, with a 3% increase this week to $14,299/FEU, nearly 8X a year ago, and a 30% climb since the end of May.

Nota : Facing possible delays for holiday merchandise and spiking prices, IKEA joined the growing list of major importers taking unusual steps to gain control of its supply chain. The furniture giant announced it has purchased its own containers and, like Home Depot and Walmart, will charter container ships during the rush.

Sep 09 - Pakistan State Oil buys HSFO, LSFO for October delivery
PSO has been increasing fuel oil purchase on the back of higher LNG prices.

Sep 09 - Hong Kong sees pick up in HSFO bunker demand as supplies tighten in Singapore
- Hong Kong-Singapore delivered spread narrows
- Singapore HSFO cargo outright prices hit 26-month high

Sep 09 - UK Q2 throughput at UK ports shows volatility amid rise in unaccompanied freight
- Signs of rising shortsea volumes to and from UK
- Platts North Asia-to-UK container assessments up 12-fold on year

Sep 09 - Singapore marine fuel 0.5%S-380 CST HSFO hits 2021 low on strong power demand
- Spread at $88.93/mt, lowest since Dec. 23, 2020
- Singapore's HSFO inflow set to rise in October

Sep 09 - Brazil truckers block highways, Bolsonaro asks protestors to stand down 

Brazilian truckers staged demonstrations throughout Brazil on Wednesday, partially blocking key routes in several states and prompting President Jair Bolsonaro to ask the protestors to stand down. Truckers sympathetic to the president had partially blockaded highways in 16 states as of the late evening, briefly shutting down traffic in two locations, according to a statement from the Infrastructure Ministry. 

Sep 09 - Asian crop importers brace for delays after Ida hits U.S. export hub 

Asia's grain and oilseed buyers are set to face shipping delays of at least one month after Hurricane Ida damaged key export terminals around the U.S. Gulf Coast, two traders and one miller said. The slowdown in supplies is likely to stoke food inflation fears for price-sensitive consumers in Asia, where many importers have already drawn down crop inventories after having been forced to curb purchases amid volatile crop prices and COVID-related supply disruptions this year.  

Sep 08 - Australia's Port of Townsville, Ark Energy sign MOU for solar-fed electrolysis hydrogen facility
- Aims to ship 120,000 mt/year to South Korea after 2030
- Primary goal to decarbonize local transport

Sep 08 - Maersk invests in bio-methanol supplier WasteFuel as demand prospects pick up
- Green methanol likely to be twice as costly as conventional fuel: Maersk
- Maersk new builds will require at least 300,000 mt of methanol in 2024

Sep 08 - Bunker demand set to firm in China as ports reopen ahead of Golden Week
- Spot inquiries surge for September
- Resumption of Ningbo operations to ease port congestion

Sep 08 - USGC bunker spread widens between New Orleans, Houston as operations normalize
- Congestion eases in Houston after holiday weekend
- New Orleans values talked higher amid 'limited avails

Sep 07 - Libya's eastern terminals face growing protests amid NOC-ministry row
- Demonstrations at Es Sider and Marsa el-Hariga threaten to impact exports
- Dispute between Oun and Sanalla dispute escalates

Sep 07 - Shipping bodies launch fresh proposals to curb emissions

- Renewable ammonia could be over three times costlier than fuel oil
- Platts voluntary CEC credits at $7.00/mtCO2e

Sep 07 - Unprecedented rally in Med gasoline cargoes on prompt tightness, robust demand

- Record Med gasoline cargo premiums versus swaps
- Very high prompt gasoline demand meets tight supply side

Sep 07 - UK's Lindsey refinery joins Humber CO2 capture and storage project
- Project to store CO2 in depleted North Sea gas fields
- Plans to capture 1.1 million mt of CO2/year from refinery

Sep 07 - Shipping industry proposes levy to speed up zero carbon future 

Leading shipping associations have proposed creating a global levy on carbon emissions from ships to help speed up the industry's efforts to go greener. With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions and the sector is under growing pressure to get cleaner. 

Sep 06 - U.S. Gulf Coast grain exports remain crippled by Ida as harvest nears 

Much of Louisiana Gulf Coast grain exporting capacity remained shuttered on Friday, as flooding and power outages from Hurricane Ida continue to cripple exports from the busiest U.S. grain shipping port, a state official said. Crop exporters are anxious for shipping to resume as autumn harvests and the country's peak grain export season loom at a time of strong demand from China. 

Sep 06 - China aims for iron ore output boost of 100 mln T by 2025 - association 

China's iron ore producers aim to increase domestic iron ore concentrate output by more than 100 million tonnes between 2021 and 2025, an official with the country's steel industry association said on Saturday. Luo Tiejun, the vice-chairman of the China Iron and Steel Association (CISA), told a meeting in the steel heartland of Hebei province that government departments are examining ways to support domestic iron ore production.

Sep 02 - Spot 0.5%S marine fuel prices in Latin America fall in Aug, near April-May levels
Spot prices for 0.5%S marine fuel at most Latin American ports in August gave back the advances seen in the previous two months amid volatile movements in the global energy complex and hesitant demand.

Sep 02 - MARINE FUEL 0.5%S: Demand struggles continue around globe, though potential supply tightness looms
Demand sentiment for marine fuel 0.5%S was unchanged in August, though potential for tighter supplies in Asia thanks to a decline in European exports could result in limited availabilities in the coming weeks.

Sep 02 - ARA fuel oil stocks down 1.5% on week at 1.184 million mt: Insights Global
Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp region were down by 1.5% week on week to 1.184 million mt in the week ending Sept. 2, according to data from Insights Global, after dropping 4.0% the week prior.

Sep 02 - August fuel oil barge trade volumes hit three-year highs in London MOC
August volumes of fuel oil traded in the S&P Global Platts Market on Close assessment process in London Sept. 2 were 40.1% higher on the month, after 0.5%S marine fuel barge volumes were up 58.4%, and 3.5%S fuel oil barges rose 32%.

Sep 02 - Crude rally accelerates on bullish US labor report, weaker dollar
An overnight crude price rally accelerated in early US trading Sept. 2 on the heels of a stronger-than-expected US employment report and a weaker dollar.

Sep 02 - Singapore fuel oil paper MOC trades in Aug rise 44% on bullish 380 CST HSFO market
Singapore fuel oil paper swap trades during the Platts Market on Close assessment process in August rose 43.77% on the month to 20.89 million barrels, S&P Global Platts data showed, on the back of a doubling of high sulfur fuel oil trade volumes amid higher demand.

Sep 01 - China’s Ningbo Meishan port to return to full operation by 1 September (IHSmarkit)

- It is estimated about $172 billion worth of global trade has been impacted

- China’s Ningbo Meishan port is partially reopened (25 August), following the temporary closure upon a Covid-19 case (11 August). By 1 September, full operation will resume.
- It will take about two weeks to clear the accumulated container ships. The port is expected to regain the usual full capacity by mid-September.
- In the past week, at least five cargo ships stopped over the port and left, showing signs of movements and creating a positive sentiment.
- Some China’s ports such as Shanghai, Xiamen and Hong Kong have seen their congestion worsen as the spillover effects spread.
- Overall, the situation caused by Meishan suspension is less serious than Yantian’s incident.

Aug 31 - FBX Overview (freightos)

- Asia-US West Coast prices (FBX01 Daily) were stable at $18,425/FEU. This rate is 452% higher than the same time last year.
-Asia-US East Coast prices (FBX03 Daily) likewise were unchanged at $20,057/FEU, and are 415% higher than rates for this week last year.

- With peak season in high gear, August is likely to set a new record for monthly US ocean import volumes and there is little relief expected in the near-term. In response, ocean carriers have increased transpacific capacity by approximately 22%. But with no way to increase port capacity, those additional ships are contributing to the new record number of vessels waiting for days outside of LA/Long Beach for a berth to open.  

- So with much of that additional capacity effectively removed from the market, ocean rates have remained sky high, but stable. Asia - US prices went unchanged this week, and are at the same level as at the start of the month, though still 5X their level a year ago, with Asia - US East Coast rates still more than $20K/FEU. Congested ports in China and North Europe likewise have kept Asia - Europe rates at record levels – 8X this time last year – but stable as well.

- Extreme ocean costs, delays as well as new rail disruptions in the US have many importers considering air cargo as an alternative. Though operations are improving at Shanghai’s Pudong airport, COVID-related disruptions are having a big impact on air cargo capacity and rates – now four times higher than pre-pandemic levels – out of China to the US. And ground handling at many US air cargo hubs are overwhelmed as well, with shipments arriving at Chicago’s O’Hare airport still stuck for days.

Aug 30 - USGC bunkers market sentiment mixed on New Orleans closure post Ida
US Gulf Coast spot bunkers markets will be monitoring the port of New Orleans this week in the wake of Hurricane Ida marking landfall, with expectations for re-opening mixed among local players.

Aug 30 - Singapore delivered marine fuel 0.5%S bunker differential narrows to near 8-month low
The Singapore-delivered marine fuel 0.5%S bunker differential against the 380 CST high sulfur fuel oil delivered assessments narrowed to a near eight-month low of $87/mt on Aug. 27, Platts data showed, amid firm Singapore-delivered 380 CST HSFO premiums, which diverted Singapore's bunker fuel demand to Fujairah.

Aug 30 - Asia residual fuels: Key market indicators for Aug 30-Sep 3
Asian residual fuel markets started the Aug. 30-Sept. 3 trading week on a steady to firmer note on more bullish signals from upstream October ICE Brent futures, with indications across the fuel oil complex higher compared to the Aug. 27 assessments.

Aug 30 - Norwegian product tanker group Hafnia sees positive shift in fundamentals into Q4
Norway-listed tanker group Hafnia said Aug. 30 that it had been buffeted by a soft market in the second quarter, leading to the posting of a net loss during that period, but added that it saw conditions improving into the final quarter of the year as fundamentals shifted to the positive.

Aug 30 - South Korea's high sulfur bunker premium slumps to 5-year low on ample supply, strong Singapore cargo values
An ample supply of 380 CST high sulfur bunker fuel in South Korea and strong Singapore high sulfur fuel oil cargo values have led South Korea's bunker premium to a 5-year low of $12.89/mt on Aug. 27, Platts data showed.

Aug 30 - AMERICAS BUNKERS: Key market indicators Aug. 30-Sept. 3
NYMEX RBOB futures moved higher Aug. 30 as the closure of the Colonial Pipeline ahead of Hurricane Ida threatened to stress already tight gasoline supply.

Aug 30 - Sovecon sees Russia's 2021/22 wheat exports at the lowest in five years 

Russian agriculture consultancy Sovecon said on Friday it had cut its forecast for Russia's 2021/22 wheat exports by 3.2 million tonnes to 33.9 million tonnes due to a lower crop, slow pace of exports and tough competition with other suppliers. Such an amount would be lowest wheat exports from Russia, the world's largest exporter of the grain, since the 2016/17 marketing season when it supplied 27.8 million tonnes, Sovecon said in a note. 

Aug 27 - US Gulf Coast HSFO highest since July 2019 as Hurricane Ida approaches
High sulfur fuel oil on the US Gulf Coast reached its highest assessed level in more than two years Aug. 27, as forecasts predicted Hurricane Ida's landfall along the coast of Louisiana.

Aug 27 - EUROPEAN VGO: Six vessels load in week to Aug. 27
Loadings of European vacuum gasoil in the week to Aug. 27 totaled 382,000 mt across six tankers, up from 156,395 mt in the previous week, according to data from Platts cFlow, trade-flow analytics software, and commodity data company Kpler.

Aug 27 - Singapore front-month gasoil EFS hits 17-month low amid rising COVID-19 cases
The Singapore front-month gasoil Exchange of Futures for Swaps fell to a 17-month low, with traders saying that the widening has come on the back of weak demand in the Asian market.

Aug 27 - Crude prices climb as Hurricane Ida threatens US Gulf energy infrastructure
Crude futures rallied Aug. 27 as US Gulf oil and gas infrastructure braced for Hurricane Ida, which is expected to make landfall in the US as a major hurricane Aug. 29.

Aug 27 - Crude tanker market to see low freight rates into 2022 with large fleet set to linger
- High costs to replace big vessels with low average age
- Dirty tanker fleet to grow until mid-decade: Platts Analytics

Aug 27 - Container ships waiting for berth at Ports of LA, Long Beach near record high
- Queue of ships offshore California nears all-time high level of 40
- Buildup ties up more boxes, causing further logistics headaches

Aug 27 - ARA fuel oil stocks down 4.0% on week at 1.202 million mt: Insights Global
- Bunker demand down on week
- HSFO availability remains limited

Aug 27 - Singapore Residue stocks hit over 5-month low on week even as fuel oil imports rise

The drop in residue stocks coincided with an uptick in fuel oil imports, and a decline in fuel oil exports, over the same period, according to the data.

Aug 27 - Rotterdam HSFO bunker volumes up 16% on year as Hi-5 supportive
Total fuel oil volumes bunkered at the Port of Rotterdam in Q2 grew 7% on the year to 1.903 million, with 3.5% sulfur fuel oil increasing its share amid a steady 0.5%/3.5% sulfur fuel oil price spread, the latest data from the port authority showed.

Aug 27 - ARA diesel, gasoil stocks fall 2% on week to 2.063 mil mt as backwardation looms:
Insights Global
Stocks of diesel and gasoil in the Amsterdam-Rotterdam-Antwerp hub fell 1.99% to 2.063 million mt in the week to Aug. 26, reversing the unexpected 0.62% build in stocks the previous week, according to data from Insights Global.

Aug 27 - US Gulf Coast HSFO nears one-month high on rising Brent, swaps

On the very low sulfur marine fuel side, prices climbed to three-week highs.

Aug 27 - Sept premiums for Singapore ex-wharf marine fuel 0.5%S rise amid limited blendstock availability
The premiums for the supply of Singapore ex-wharf marine fuel 0.5%S bunker on a term contract basis for September dates have firmed up in August on the back of restricted supply of blending components and strong cargo premiums.

Aug 27 - FOB Singapore 180 CST HSFO cash differential hits 10-month high on bullish feedstock, power demand
Kpler data showed August arrivals of both high sulfur fuel oil and high sulfur straight run fuel oil in China hitting 1.242 million mt.

Aug 26 - Logistical bottlenecks seen limiting India's soymeal imports - trade 

Indian traders are scrambling to secure prompt shipments of soymeal after New Delhi relaxed rules to allow the import of 1.2 million tonnes of the animal feed, but logistical bottlenecks could limit volumes to less than 400,000 tonnes, industry officials told Reuters. New Delhi on Tuesday allowed imports of genetically modified (GM) soymeal for the first time to help the poultry industry after soymeal prices tripled in a year to a record high. 

Aug 25 - FBX Overview (Freightos) 

- Asia-US West Coast prices (FBX01 Daily) went unchanged at $18,425/FEU. This rate is 462% higher than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) increased 1% to $20,057/FEU, and are 442% higher than rates for this week last year.

The terminal affected by a recent covid outbreak in Ningbo resumed partial operations this week, with a return to full capacity expected late next week, even as outbreaks in Vietnam are shutting down factories just as retailers are clamoring for peak season orders.

The disruption in Ningbo was not as bad as feared, but has created a backlog in Ningbo and caused unwelcomed additional congestion at alternate ports in the region.  Though the latest ocean freight crisis did not push ocean rates up significantly this week, it is one more factor constraining capacity through delays and keeping rates at record highs, with transpacific rates more than 400% higher than the already elevated rates of a year ago, and Asia-US East Coast prices above $20K/FEU.

Another sign that ocean delays and scarce space with the holiday season rapidly approaching are being felt by big and small importers alike? Walmart and semiconductor-maker TSMC joined Home Depot on the short list of businesses taking the drastic and expensive step of chartering their own container ship in the name of logistics stability.

And the capacity shortage is not just on the ocean side. In addition to the continuing rail backlogs, logistics providers are also struggling to find enough warehouse workers and truck drivers to handle the peak season surge.

Aug 25 - Rotterdam port Q2 LNG bunker sales rise 12.6% on quarter
LNG bunker sales at the Rotterdam port rose 12.6% quarter on quarter to 157,027 cu m in the second quarter, it said in a recent report.

Aug 25 - TFG Marine installs MFM on WAF bunker barge, amid wider push for transparency
An MFM has been installed on the Queensway Vemahonesty operating for TFG Marine off the coast of Benin and Togo, a spokesperson said Aug. 25.

Aug 25 - Japanese Aug 15-21 LSFO output rises as estimated shipments rebound
- Estimated LSFO shipments surged 181% on week to 533,461 barrels
- Aug. 15-21 power demand rebounds by 2.8 GW on week: Platts Analytics

Aug 25 - Ex-wharf Singapore 380 CST HSFO differential to delivered grade hits 20-month high
- Ex-wharf premiums pushed up significantly by the cargo market
- Strength in HSFO supported by demand from Middle East power sector

Aug 25 - Hong Kong 380 CST high sulfur bunker fuel supply tightens on stronger demand
- Demand rises with more scrubber-fitted ships
- Cargo replenishment has not increased on tight supply in Singapore

Aug 25 - Bunkering resumes in South Korea post Typhoon Omais; barging tightens
Bunker suppliers had suspended operations at southern ports on Aug. 23, and at western ports on Aug. 24, respectively.

Aug 25 - Sep LSFO arbitrage arrivals in Singapore estimated lower on month: traders
- Estimates down from 2.1-2.2 million mt in August
- Some possible slippage expected in October

Aug 25 - La Nina seen hurting Argentine corn/soy crops, export logistics 

Dryness over the next six months in Argentina is expected to reduce the size of the country's two main cash crops, corn and soy, while complicating navigation of grain cargo ships on the Parana River, analysts said. Forecasters say the La Nina climate phenomenon is likely to resurface after a spotty appearance last season, bringing additional dryness to a part of South America that has already been parched for months, threatening crops, and lowering the water level of Argentina's key grains superhighway. 

Aug 24 - FOB Singapore 380 CST cash differential hits 18-month high on Middle East demand
The FOB Singapore 380 CST high sulfur fuel oil cash differential hit an 18-month high at $9.67/mt Aug. 23 amid higher demand for September cargoes from the Middle East power generation sector, according to the traders based there.

Aug 24 - Delivered Singapore 380 CST HSFO differential widens to multi-month high

Premiums for Singapore-delivered 380 CST high sulfur fuel oil have widened to multi-month highs on Aug. 23, Platts data showed, on the back of strong delivered high sulfur bunker fuel values and an even stronger cargo market. This comes after Platts reported in the week ended Aug. 20 that HSFO suppliers in Singapore are beginning to see a pick up in demand for delivered HSFO bunkers.

Aug 24 - Crude extends rally, climbs 3% on improved demand sentiment
Crude oil futures pushed higher for a second session Aug. 24, climbing 3% on the back of improved demand sentiment and a weaker US Dollar.

Aug 24 - Eight new methanol-powered vessels will stimulate renewable fuel supply: Maersk
- Conventionally produced methanol about twice as expensive as fuel oil
- The new vessels will encourage new methanol projects: Maersk

Aug 24 - Rotterdam HSFO crack spread reaches 11-week high
- Hits highest level since June 2021
- Med physical HSFO market tight: traders

Aug 24 - Tight ARA supply drives 50 ppm gasoil barges to parity with ULSD
Cash differentials for 50 ppm gasoil barges in the Amsterdam-Rotterdam-Antwerp (ARA) region rose to parity with the lower sulfur ULSD barges, as tight supply of the higher sulfur gasoil grade pushed price levels to a seven-month high on Aug. 23.

Aug 24 - South Korea's western ports halt bunker operations on strong winds
Bunkering operations at South Korea's western ports, such as Daesan, have been halted due to strong winds, market sources told S&P Global Platts Aug. 24.

Aug 24 - East of Suez ULSD, gasoil shipments to Europe at 850,000 mt in September:
Around 850,000 mt of East of Suez ultra low sulfur diesel and gasoil is set to arrive in Europe in September so far, according to Platts cFlow trade-flow analytics software and shipping fixtures.

Aug 24 - Chinese July transport fuel output rises 0.8% on year to 30.45 million mt
- Higher cracking margin drives gasoline, jet fuel output
- Aviation sector expects headwind amid rising COVID-19 cases

Aug 24 - Covid-19 Closure at China’s Ningbo Port Is Latest Snarl in Global Supply Chains
Dozens of ships are anchored outside the giant port, which isn’t expected to resume full operations for weeks. Congestion at Ningbo is spreading as big operators divert ships away from Ningbo.

A major container terminal at China’s Ningbo-Zhoushan Port remained shut a week after operations were suspended from a single Covid-19 case, with dozens of ships lining up to load cargo for western markets ahead of the year-end shopping season.

The congestion at Meishan terminal, which isn’t expected to resume full operations before the end of the month, is spreading to other ports like Shanghai and Hong Kong as big operators divert ships away from Ningbo.

The cascading effect will lead to crowding at ports along the Asia-to-Europe and trans-Pacific routes that could further slow the flow of goods. It will also hit cargo owners from giant retailers like Walmart Inc. and Amazon. com Inc. to mom-and-pop shops, which will have to deal with late deliveries and higher transport costs as they work to restock ahead of the holidays.

“We are currently looking at delays of up to two weeks in cargo deliveries,” said Nils Haupt, a spokesman for German boxship giant Hapag-Lloyd AG . “We’ve diverted four ships, but there is a race to berth in other ports and they are also congested.”

Ningbo is the world’s third-largest container port and a big gateway for Chinese exports like furniture, home goods, toys and auto parts headed to markets in the U.S. and Europe. The Meishan terminal is one of the biggest among seven box terminals at Ningbo, moving more than 7 million boxes a year. Other big container players like Denmark’s A.P. Moller-Maersk A/S and France’s CMA CGM are also diverting ships away from the port.

In June, China shut down Yantian, a container port in Shenzhen, after more than a dozen Covid-19 infections among workers at the port. In March, a blockage in the Suez Canal led to delayed delivery of goods and worsened the container shortage.

Aug 23 - AMERICAS BUNKERS: Key market indicators Aug. 23-27
Spot marine fuel bunkers assessments in the Americas enters the week Aug. 23-27 under pressure from recent declines in key global energy futures, with market participants looking to upstream sectors for direction amid ongoing pandemic-related demand concerns.

Demand for low sulfur bunker fuel has picked up in the week ending Aug. 20 across ports. Availability was good across all ports with no delays expected.

Aug 23 - EMEA MIDDLE DISTILLATES: Key market indicators
European middle distillate markets have mostly moved sideways of late, apart from the jet fuel market which saw continued softening.

Aug 23 - Sri Lanka's Ceypetco offers 180 CST fuel oil for mid-Sep
Ceypetco procures fuel oil on behalf of West Coast Power and other local power companies. The company last sought 20,000 mt of 180 CST fuel oil for delivery over Sept. 3-4, but canceled the tender as its customers no longer required the product for power generation due to heavy rain that boosted hydroelectric power generation capacity, a company source said. Heavy rain has also enabled Ceypetco to export excess fuel oil, the source said.

Aug 23 - Japan's Kawasaki to build 86,700 cu m LPG-fueled LPG/ammonia carrier in 2023
- Kawasaki builds Japan's first LPG-fueled tanker for delivery at end-August
- Shipping fuels in transition on industry's push for decarbonization

Aug 23 - Gothenburg H1 throughput up on rising car sales, strong gasoline demand
- Gasoline in backwardation through Q3, Q4
- H1 refinery runs were low

Aug 23 - South Korea's southern ports halt bunker operations as typhoon Omais advances: sources
Bunkering operations at the ports were suspended in the afternoon on Aug. 23, and are expected to remain shut until Aug. 26, sources said.

Aug 23 - Bunker barge supply tightens in West Japan on rough weather, maintenance

"We cannot offer August-delivery bunker fuel to West Japan as barges are not available," said a bunker trader.

Aug 20 - ARA fuel oil stocks up 1.4% on week at 1.252 million mt: Insights Global
- HSFO barges lose pricing strength
- Hi-5 spread drops on week **Bunker demand strengthens

Aug 20 - Fujairah sees 11th licensed bunker supplier as delivered premiums firm up
- Montfort joins as the 11th licensed bunker supplier
- Fujairah could see more new entrants in coming months: sources

Aug 20 - Mumbai-Colombo bunker fuel spread widens to 2-month high amid monsoon
"The monsoon season has limited our bunkering capabilities at the Mumbai port for this week," said a Mumbai-based supplier.

Aug 20 - Singapore Residue stocks dip 2% on week as fuel oil imports fall, exports rise
- Fuel oil imports drop 9.8% with no volumes from the Americas, Russia
- Fuel oil exports rise 10% on week

Aug 20 - China's July oil product output rises 4% on year to 42.23 mil mt
China's fuel oil production rose 8.3% on the month to 3.78 million mt in July.

Aug 20 - Planned two-week Panama Canal maintenance to severely impact transit capacity: ACP
The ACP advised that during maintenance periods, non-booked ships have experienced delays of up to 14 days.

Aug 19 - Port of New Orleans, CLEANCOR eye LNG bunker partnership
The port will provide CLEANCOR with data, logistics expertise, customer contacts, as well as introductions and marketing support.

Aug 19 - Platts proposes changing MOC timings for European bunker assessments for eWindow launch
Following the eWindow launch in this market on Oct. 14, participants in the Platts MOC process will be able to submit bids and offers for publication directly through the eWindow software or through an editor, who would then publish bids and offers using the software.

Aug 19 - Global weekly mobility slips as Japan curbs deepen gloom over oil demand recovery
- China, Japan demand hit by delta outbreaks
- But India, Germany, UK continue to recover

Aug 19 - Works underway at ExxonMobil's Antwerp: sources
Works started around mid-August and were expected to be completed by the end of the month.

Aug 19 - Platts to discontinue European LSFO bunker assessments from Oct. 6

Aug 19 - FBX Overview (Freightos)

- Asia-US West Coast prices (FBX01 Daily) are at $18,425/FEU, a 50% gain since a month ago. This rate is 503% higher than the same time last year.
Asia-US East Coast prices (FBX03 Daily) are at $19,943/FEU, a 30% increase in the last four weeks and 475% higher than rates for this week last year.

Despite fears of a Yantian repeat – where a coronavirus outbreak significantly hindered operations for three weeks – disruptions at Ningbo following one port worker’s positive COVID test have been much less extensive.

Though some carriers diverted ships to alternate ports and a backlog formed offshore, the port still managed to operate at 90% capacity since the closing of the affected terminal last week. The terminal resumed partial operations by Wednesday and is scheduled to begin accepting new export containers next week.

With the additional crisis largely averted, no major lull and surge should be expected at destination ports – a good thing for US ports already sagging beneath the peak season onslaught.  The ports of LA/Long Beach now have more than 30 ships waiting in the bay, approaching the record set at the start of the year.

The congestion extends well beyond ship backlogs and into rail and trucking as well, with marketplace data showing that average door-to-door ocean transit times in August were at record highs – 15% longer than in May, and 46% longer than a year ago.

Ocean freight rates remain extremely high on surging demand and capacity further restricted by port congestion. Asia-US rates to both coasts are about 4% below their levels two weeks ago, but still 6x their level last year when rates were already climbing.  Prices from Asia to North Europe stayed level this week, but at more than $14,000/FEU they are 725% higher than a year ago.

China’s zero tolerance approach to COVID outbreaks is also disrupting the air cargo market. Travel restrictions and quarantine requirements for ground and air crews have resulted in hundreds of cancelled flights or planes leaving half loaded or empty.  

As a result of capacity being removed, marketplace data shows air cargo rates from Asia to the US and Europe have climbed from 20% to as much as 40% so far in August, with disruptions expected to keep pushing prices higher.

Aug 19 - Maersk signs first green methanol deal in step towards dropping fossil fuels 

A.P. Moller-Maersk said on Wednesday it had signed a contract securing green methanol as the world's largest shipping firm gears up to operate its first carbon-neutral ship in 2023. With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions. 

Aug 19 - Algeria buys 230,000-250,000 T wheat in tender - traders 

Algeria's state grains agency OAIC purchased up to 290,000 tonnes of optional-origin milling wheat in a tender on Tuesday, traders said on Wednesday. The tender drew interest as it was thought to have seen OAIC ease a quality requirement in response to a rain-hit French harvest while also raising the possibility of a rare sale of Russia wheat to Algeria, traders said.

Aug 18 - Japanese Aug. 8-14 LSFO domestic shipments at lowest in 36 weeks as power demand plunges
- Estimated LSFO shipments plunge 63% on week to 189,813 barrels
- Estimated HSFO shipments also drop 41% on week to 605,545 barrels

Aug 18 - Trafigura's TFG Marine launches Antwerp bunkering operations
In Antwerp, TFG Marine will have several barges with the aim of providing 100,000 mt/year of marine fuel across all of the ports in the wider Amsterdam-Rotterdam-Antwerp region. This is likely to increase as ports mandates the use of mass flow meters, a company spokeswoman said late Aug. 17.

Aug 18 - Chinese Jan-July key oil products exports hit 29 mil mt, leaving 7.5 mil mt quota for Aug-Dec
Data released by the General Administration of Customs on Aug. 18 showed that, despite a significant fall in July, China's key oil products exports rose marginally by 0.3% year on year in the first seven months.

Aug 18 - Fujairah Oil product stocks gain led by surge in middle distillates
- Heavy distillates fall to 4-month low
- Bunker supplies 'tight': trader

Aug 18 - Hong Kong June fuel oil imports rise 41% on year to 2.18 mil barrels
The Hong Kong bunker industry saw a slight increase in demand after the government dropped its requirement for ships calling at its ports without loading or discharging cargo to complete 14 days quarantine.

Aug 18 - Singapore delivered LSMGO discount widens to near 4-year high
Trading sources have attributed the widening discount to a shift in demand from MGO 0.5%S to LSMGO 0.1%S, as well as attractive offers by suppliers in an effort to capture demand.

Aug 18 - China’s Ningbo Meishan port suspension disrupting fruit trade (IHSmarkit)

- Port’s closures affect 2,000 workers
- Ships started skipping Ningbo
- Southeast Asian fruit imports may be impacted

China’s governments at different levels continue to exercise “zero tolerance of Covid-19” and strict lockdowns once a single case emerges. One worker at Ningbo Meishan Port (MSICT) was tested positive, the whole operation at the port has been suspended ever since (11 August), causing delays and congestions. About 2,000 workers are affected.

Meishan is one of Ningbo Zhoushan’s 19 ports. Other ports are reportedly to continue operations as usual. Meishan handles over five million standard containers (TEU) in 2020, about 41 million tonnes, accounting for about 20% of the container cargo by weight of the Ningbo Zhoushan Port.

Affected by the typhoon, the Meishan port was shut between 23-26 July, already causing congestions in Shanghai and Ningbo. Some sources are concerned about the spillover congestion effect as nearby ports may not be able to fully digest the goods destined for Meishan.

- Several major shipping companies have already skipped Ningbo as a temporary measure.
Chinese media reported that Meishan is an important port for imported fruits and grains for Eastern China, particularly for the Jiaxing Fruit Market, a major local wholesale market, which relies on Ningbo and Shanghai ports.
Jiaxing Fruit Market reported that Southeast Asia accounted for over 70% of imported fruit volumes in H1 2021. The top three selling types by volume are jackfruits, dragon fruits and durians, rising 77%, 34% and 29% year-on-year, respectively.
- IHS Markit previously reported that China’s Guangdong Covid-19 outbreaks disrupted shipping schedules (10 June). Shenzhen Yantian (YICT) port’s suspension in May-June caused serious congestions.

Aug 18 - Chinese ports choke over 'zero tolerance' COVID-19 policy 

Several Chinese ports are facing congestion as vessels due to call at Ningbo are being diverted and cargo processing is slowed partly due to stricter disinfection measures under China's "zero-tolerance" coronavirus policy. On Tuesday, more than 50 container vessels were queuing at Ningbo port, China's second largest marine centre, Refinitiv data showed, up from 28 on Aug. 10 when a COVID-19 case was reported at one of its terminals. 

Aug 18 - Asia drives early-season EU soft wheat exports 

South Korea has emerged as the top export destination for European Union wheat at the start of the 2021/22 season, one of several Asian countries to see large shipments from the 27-country bloc, European Commission data showed on Tuesday. EU soft wheat exports in the 2021/22 season, which started in July, had reached 2.33 million tonnes by Aug. 15, including about 407,000 tonnes shipped to South Korea, the data showed.

Aug 17 - Monjasa buys new tanker for West Africa cargo, bunker operations

- Shift in VLSFO cargo market to WAF
- Regional refineries reducing reliance on European imports

Aug 16 - Parana low water levels 'could last to end-2021': INA

Low water levels in the Parana river could last until the end of October and possibly even through to the end of the year, local press reported, citing the deputy manager of Information Systems and Hydrological Alert of the national water institute (INA), Juan Borús as saying.

The official described the current situation as “very serious” in an interview with local press.

“Actually, if one considers all the variables that come into play since the last 140 years, it is the most complicated because the basin has changed, but above all there is one point that has changed significantly, which is the strong dependence that Argentina has of the Paraná River,” Borus reportedly said.

The official expects water levels to continue to decline through to October 31.

“By the end of October we should have the strongest expression of the river, with the lowest levels that could become very similar to those recorded in 1944, and these are frightening numbers because they condition all uses of the river,” he warned.

Borus also said that the scenario is not likely to return to normal until the end of the year and may only happen in January or February of 2022.

According to the latest available data from INA, water levels near Rosario are currently around 0.06 metres versus the historical average of 2.92 metres for August.

Last month, the Argentine government declared a state of hydric emergency lasting for a period of 180 days, whereby the government will adopt measures to mitigate the severe situation caused by Parana’s low water levels.

Low water levels on the Parana River could generate losses of $315 million for the Argentine agroindustrial sector between March and August 2021, a recent study by the Rosario Grain Exchange (BCR) has found.

The Up River complex, fed by the Parana river network, managed 70% of all grain exports in 2020, as well as 96% of all meals and 96% of all vegoils, while the river is a key artery connecting Argentina’s Rosario hub to global export markets.

Aug 16 - Port, shipping firms divert vessels after a Ningbo terminal shuts 

Ports and shipping companies are diverting vessels from a container terminal in China's busiest marine transportation hub which was forced to close after a coronavirus case emerged, as the pandemic strains global supply amid rising retail orders. Meidong container terminal in eastern Ningbo suspended operations on Wednesday after a COVID-19 case was detected, while nearby Shanghai also recorded the worst congestion in at least three years.  

Aug 16 - Brazil's 2022 soy exports to hit unprecedented 90 mln tonnes - Safras 

Soybean exports from Brazil are expected to total 90 million tonnes in 2022, a potential new record from a projected historical high this year, agribusiness consultancy Safras & Mercado said on Friday. In its first projection for Brazilian shipments next year, Safras said it would keep the estimate for 2021 soybean exports at 86 million tonnes, unchanged from a forecast made in June.

Aug 13 - Crude prices drop but hold steady near $70/b threshold
Crude oil prices fell Aug. 13 but still held steady near the $70/b threshold as fears of economic and supply-chain slowdowns bubbled up as a result of China closing a major port terminal.

Aug 13 - Diversifying supply sets up Panama as key regional hub for high sulfur bunkers
The high sulfur bunker fuel in Panama has seen very competitive pricing recently as supply of the fuel to the hub is diversifying, leading values to fall during the week ended Aug. 13 under those in Houston.

Aug 13 - Novorossiisk, Primorsk Jan-Jun throughput down 6.9% on year
- Liquids fall 9.2% on year to 46.1 million mt
- Dry goods fall 3.4% on year to 12.2 million mt

Aug 13 - Shippers await clarity on impact of shutdown at China's Ningbo
- Carriers omit sailings at the terminal, warn of delays
- Shippers fear booking cancellations

- Lockdowns, delays in Vietnam may exacerbate problems

Aug 13 - ARA fuel oil stocks down 0.6% on week at 1.235 million mt: Insights Global
- HSFO backwardation remains
- Low sulfur complex rangebound
- Hi-5 widens, but still lower on week

Aug 13 - US sanctions VLCC, Omani oil broker in latest sign of trouble for Iran nuclear talks
The US Treasury Department leveled new sanctions Aug. 13 against an Omani oil trader and a Liberian-flagged crude oil tanker accused of facilitating Iranian oil exports, the latest sign of friction around the stalled US-Iran nuclear talks.

Aug 13 - Singapore July bunker sales fall 2.3% on year to 4.06 million mt
In comparison with June, LSFO bunker sales were down 1.7% on the month.

Aug 13 - Indian refiners seek vacuum gasoil for Sept as feedstock amid higher refined products demand
Indian Oil Corp. and Mangalore Refining and Petrochemical Ltd. issued tenders seeking vacuum gasoil, for early-September delivery.

Aug 13 - Zhoushan bunker prices to stay competitive as state refiners look to boost sales
- Smaller players pressured as market dynamics change
- Port continues to position itself as dominant bunker hub

Aug 13 - Sri Lanka's Colombo, Hambantota ports achieve more bunkering feats with latest foray
- Advantis Bunkering starts delivered HSFO supply at Colombo
- Favorable Hi-5 spread supports scrubber installations

Aug 13 - Bunker demand at Zhoushan unscathed amid port closures at Ningbo
This is the second port closure after Meidong container terminal shuttered Aug. 11, when a COVID-19 case was detected which led port authorities to close the port with immediate notice.

Aug 13 - FBX Overview

- Asia-US West Coast weekly prices (FBX01 Daily) increased 1% to $18,556/FEU. This rate is 571% higher than the same time last year.
- Asia-US East Coast weekly prices (FBX03 Daily) increased 5% to $19,620/FEU, and are 514% higher than rates for this week last year.

- COVID-19 outbreaks in Vietnam and parts of China are closing factories and slowing logistics, even as peak season demand and congestion at US ports continue to surge.
- On top of the recent restrictions on port workers and ship crews that were already slowing operations and driving congestion at China’s major sea ports and at Shanghai’s Pudong airport, an outbreak among port operators yesterday has reportedly shut down one of Ningbo’s container terminals.

These additional complications couldn’t come at a worse time.
- Though US demand for imports has surged for more than a year, peak season is just hitting its stride and pushing volumes to new heights. The National Retail Federation projects that August will set a new monthly container import record, surpassing last August’s volumes by 12.6%.
- Congestion and delays are already growing at the ports of LA and Long Beach and though disruptions at Asian origin ports could result in a temporary lull of arrivals in the US, they will only add to delays for US importers.
- Though some carriers are adding capacity (again) via Oakland and others are getting creative with a rail-sea service to the East Coast, peak demand continues to put tremendous pressure on freight rates.  Asia - US rates are more than six times their levels a year ago, and Asia - North Europe prices are 719% higher than this time last year.
- As capacity is moved to meet the demand ex-Asia, rates on other lanes, like the transatlantic are climbing too: Europe - US East Coast prices climbed 10% to $6,658/FEU this week, nearly four times their level a year ago, and Europe to South America rates increased 12% to $3,459/FEU, a 250% climb over last year.

Aug 13 - Major container ports in eastern China see worsening congestion after COVID-19 cases 

Congestion off China's top two container ports Shanghai and Ningbo is worsening following the shutdown of a container terminal in Ningbo where a COVID-19 case was detected this week. Tighter restrictions to fight China's latest coronavirus outbreak are starting to hit more parts of the economy. The highly transmissible Delta variant has been detected in more than a dozen cities since late July. 

Aug 13 - China lowers estimates of 2020/21 soybean imports on falling crush margins 

China has lowered its estimates of soybean imports in the year 2020/21 following a decline in crush margins, the Ministry of Agriculture and Rural Affairs said in its monthly crop report on Thursday. China's 2020/21 soybean imports were seen at 98.6 million tonnes, down 1.84 million tonnes from last month's estimates, as the crushing volume of soybeans has fallen since July because of declining margins, the report said.

Aug 12 - Rising crude output yet to boost tanker rates: Euronav
- H1 dirty VLCC freight rates down sharply on year
- Crude output rising but lockdowns hampering exports

Aug 12 - Gazprom Neft builds Russia's first LNG bunker barge
- Rotterdam LNG bunker fuel currently more expensive than VLSFO
- LNG may not be suitable for 2050 IMO climate goal

Aug 12 - Platts proposes to eliminate use of 'hand blends' in trades reported through US MOC process for Marine Fuel 0.5%S
There are no proposed changes to the use of hand blends on trades reported through the Platts MOC in any of the other US residual fuel markets.

Aug 12 - Freight rates, bunker costs likely to grow through 2021: Hapag-Lloyd
- Platts container index over 400% higher on year
- Oil complex may see price growth in Q4, decreases next year

 Aug 12 - UK hauler shortage a boon to Port of Antwerp short-sea sector: official
- Short-sea sector reduces need for drivers, eases container bottlenecks
- Platts container index 452% higher on year

Aug 12 - Blue hydrogen 20% worse for GHG emissions than natural gas in heating: study
Full life cycle greenhouse gas emissions from burning blue hydrogen for heating were more than 20% greater than using conventional natural gas, the report from researchers at Cornell and Stanford Universities said.

Aug 12 - USGC HSFO-3.5% FOB Rotterdam swap spread widens on supply constraints

Over the weekend Aug. 7-8, local media reported that there was a fire at Pemex's Salina Cruz refinery, located in the southwestern state of Oaxaca.

Aug 12 - Sri Lanka's Hambantota Port receives first cruise ship call for VLSFO bunkering

This is the first cruise ship to call at Hambantota since the outbreak of the coronavirus pandemic in early 2020, according to HIPG.

Aug 12 - A container port in eastern China suspends operation due to COVID-19 case 

A container port in China's eastern marine hub Ningbo has suspended operation after a member of staff tested positive for COVID-19 on Aug. 10, said a port official at a press briefing on Wednesday. Ningbo Meidong Container Terminal Corp, a subsidiary of Ningbo Zhoushan Port Company Ltd, has also suspended all inbound and lift-off services from 03:30 a.m. local time on Wednesday. 

Aug 12 - South Korea's MFG bought 207,000 tonnes corn in tender 

South Korea's Major Feedmill Group (MFG) purchased some 207,000 tonnes of corn an international tender which closed on Wednesday, European traders said on Thursday. The corn was bought in three consignments of 69,000 tonnes each, all at an estimated $319.99 a tonne c&f including a surcharge for additional port unloading.

Aug 11 - Fujairah Oil product stockpiles climb for first time in three weeks
- Fujairah sees 'low demand' for bunkers

- Slowdown may be due to India monsoon

Aug 11 - Tight Singapore-delivered MGO supply narrows spread to LSMGO to 12-month low
A key source of demand for 0.5%S MGO is fishing vessels, and this source has shifted toward using LSMGO given the shortage of supplies on the market.

Aug 11 - India July gasoil consumption slips 1% on month after June rebound
India's gasoil consumption dipped 1.02% month on month to 6.14 million mt in July, showed latest provisional data from the Petroleum Planning and Analysis Cell, or PPAC, as public transportation networks and railways had yet to resume full service capacity.

Aug 11 - TOGO July gasoil imports into offshore Lome down 26% on month: Kpler
Gasoil imports into offshore Lome in West Africa in July were down 26% from June levels, after an earlier build-up of supply and amid moribund demand.

Aug 10 - Torm to complete scrubber installations by Q2 2022, sees delayed tanker demand recovery
- Platts FOB Hi-5 barges swap in contango through 2021
- Platts H1 UKC-USAC clean tanker rate down 36% on year
- Mixed signals from oil markets for remainder of year

Aug 10 - Red-hot container markets adopt unorthodox measures
As exorbitantly high base rates are no longer the ticket to getting a box on a ship or a guarantee of timely delivery, the market has been shaped by a clutch of measures.

Aug 10 - Depressed rates weaken VLCC market, force owners to idle ships
- VLCC rates low despite rising bunker fuel prices
- Lower Chinese crude imports weaken VLCC market

Aug 10 - South Korea to offer tax rebates for bunkering of LNG-fueled ships
The government currently levies a surcharge on LNG imports at Won 24.20/kg (2 cents/kg), in addition to a 3% tariff on LNG imported during the peak winter season from October to March and 2% during the rest of the year, as well as a consumption tax of Won 30-60/kg.

Aug 10 - Asia residual fuels: Key market indicators for Aug. 10-13
Traders said an oversupply of the IMO-compliant bunker fuel from coastal refineries is weighing on ex-wharf premiums and valuations of the delivered grade, despite steady bunker demand.

Aug 10 - Canadian Pacific ups offer for Kansas City Southern in bid to break up CN deal
Canadian Pacific Railway said Aug. 10 it is making a counteroffer for Kansas City Southern of more than $27 billion in a bid to break up rival Canadian National's pending acquisition of KCS that has moved forward amid an environment of great regulatory uncertainty.

Aug 10 - New Zealand's Marsden Point targets conversion by mid-2022
The final investment decision will be taken by the board of the company around the end of September.

Aug 10 - Wheat ships queue at French port as rain hits harvest logistics 

Ships have been waiting for up to a month at France's biggest grain port to load wheat for Algeria as a rain-hit harvest has forced exporters to compete for a trickle of supply and reinforce quality checks to meet milling standards. Heavy rain in France, the European Union's largest wheat producer, has added to worries about global export supplies as harvest prospects have also deteriorated in North America and Russia. 

Aug 10 - Britain imposes sanctions on Belarus, Lukashenko retorts: 'choke on them' 

Britain imposed sanctions on Belarus's potash and petroleum product exports on Monday in an attempt to put pressure on President Alexander Lukashenko, who swiftly retorted that London should "choke on" the new measures. So far Western sanctions have done little to persuade Lukashenko, in power in the former Soviet republic since 1994, to change course from a crackdown on his political opponents.

Aug 09 - Exxon launches delivered IMO-compliant bunker fuel sales in New Zealand
The fuel is delivered on the bunker barge MT Kormako, the first and only bunker barge at the port, and augments pre-existing ex-wharf options.

Aug 09 - Tankers International Seaways sees fleet optimization crucial with crude tanker earnings down 71%
Expectations of improving global ton-mile demand, tanker fleet optimization during the second half of 2021 provide support to International Seaway's performance after tanker owners faced an extended period of dismally low daily earnings during the second quarter amid the ongoing global pandemic and an early transition into the historically muted summer months, the company said in the Q2 2021 earnings call Aug. 9.

Aug 09 - China's July coal imports soar to fresh 2021 high 

China's coal imports in July rose to a 7-month high in July as robust demand and tight domestic supply encouraged traders and end-users to buy from overseas. Arrivals of the dirty fossil fuel reached 30.18 million tonnes last month, up from 28.39 million in June and up 15.6% from 26.1 million in July 2020.

Aug 09 - Tunisia buys soft wheat and barley in tender - traders 

Tunisia's state grains agency is believed to have agreed to purchase soft milling wheat and animal feed barley in an international tender which closed on Friday, European traders said. The agency was thought to have booked about 75,000 tonnes of wheat, slightly less than the 100,000 tonnes sought in the tender, and some 100,000 tonnes of barley, in keeping with the volume targeted.

Aug 06 - Seven vessels load European VGO in week to Aug. 6
- Some 95,470 mt of VGO loaded during week
- European VGO volumes down on week

Aug 06 - ARA fuel oil stocks rise 16% on week: Insights Global
- Refiners increasing fuel oil supply
- Bunker fuel demand reported up by traders

Aug 06 - OPEC+ hikes crude output 750,000 b/d in July, slightly shy of target: Platts survey
- OPEC produces 26.83 mil b/d, up 640,000 b/d
- OPEC+ compliance dips to 106.09%, lowest since Jan

Aug 06 - Glander International Bunkering seeks growth as 'new normal' market unfolds, says CEO
- Singapore bunker sales to remain strong in 2021
- HSFO sales underpinned by favorable Hi-5 spread

Aug 06 - China-U.S. container shipping rates sail past $20,000 to record 

Container shipping rates from China to the United States have scaled fresh highs above $20,000 per 40-foot box as rising retailer orders ahead of the peak U.S. shopping season add strain to global supply chains. The acceleration in Delta-variant COVID-19 outbreaks in several counties has slowed global container turnaround rates.

Aug 06 - Argentina's Bahia Blanca grains port operating normally after strike suspended 

Argentine grain port Bahia Blanca was back to operating normally on Thursday, a local official said, after five days of disruptions due to a truckers' protest that included roadblocks that kept grains cargos from entering port terminals. Bahia Blanca is in the southern part of Buenos Aires province, on the Atlantic Ocean, where exporters such as Archer Daniels Midlands Co, Cargill and Louis Dreyfus ship agricultural products harvested from Argentina's sprawling Pampas Grains belt.

Aug 06 - Enel, Fincantieri to study use of green hydrogen in ports, sea transport 

Europe's biggest utility Enel has agreed to work with Italian shipbuilder Fincantieri to find ways to use green hydrogen in ports and long-range sea transport. "The two companies intend to exploit their expertise and know-how in their respective sectors to identify possible sustainable and innovative solutions," they said in a statement on Thursday.


Aug 05 - New Italian tax rule will deter bunkering by foreign vessels: sources
- Fears new layer of bureaucracy will hamper speed of transactions
- Threatens to 'halve volumes' bunkered in Italy: trader

Aug 05 - Port of Rotterdam, Horisont Energi announce ammonia project amid decarbonization

Aug 05 - FBX Overview (Freightos)

- Asia-US West Coast prices (FBX01 Daily) increased 5% to $19,237/FEU. This rate is 619% higher than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) climbed 6% to $20,804/FEU, and are 543% higher than rates for this week last year.

- As ocean freight peak season continues to heat up, congestion and delays at the ports of LA/Long Beach are on the rise once again. The amount of time that many container ships are spending waiting in a bay is a major contributor to the estimate that – even as demand continues to climb – it currently takes 25% more fleet capacity than usual to move the same volume of cargo.

- Non-stop demand and scarce capacity made worse by delays are also keeping freight rates climbing.  Since last week, prices from Asia to the US West Coast, including typical premium surcharges, increased by 5% to more than $19,000/FEU, more than seven times their level a year ago, with East Coast rates hitting an astounding $20,804/FEU.

- Many US importers have had enough, including one home furnishings importer who filed a claim against several ocean carriers with the Federal Maritime Commission (FMC) this week. The $600k suit accuses the carriers of collusion and of not honoring the terms of long-term contracts in order to push importers to the spiking spot market. In addition to considering the claim, the FMC is also looking into the legality of some surcharges introduced by carriers.

 - And as logistics disruptions caused by the recent coronavirus outbreak in Vietnam continue, concerns are growing about upticks in infections in China, and the possible crisis lockdowns there could cause for a logistics ecosystem already stretched past its limits.

Aug 05 - French 2021/22 wheat shipments outside EU hit decade-low in July 

French soft wheat shipments outside the European Union fell to their lowest in over a decade for July, Refinitiv data showed, as a rain-hampered harvest contributed to a slow start to the 2021/22 export season. Soft wheat exports to destinations outside the 27-country bloc totalled 349,200 tonnes in July, the first month of the 2021/22 season, an initial estimate based on Refinitiv loading data showed.

Aug 05 - Brazil's Anec forecasts corn exports to fall by half 

Brazilian corn exports will fall by half this season, as adverse weather hurt the country's crop and export prospects, according to a projection by grain exporter group Anec released on Wednesday. In a presentation, Luciano de Souza, president of Anec's board of directors, said Brazil was forecast to sell 17 million tonnes in export markets in the current cycle, down from 34.8 million tonnes in the last.

Aug 04 - Competition drags Singapore LSMGO differential to multi-month low
The trader also said that bunker suppliers in Singapore are contracted to receive additional cargoes of LSMGO exported from South Korea, so the suppliers seek to sell their July cargoes prior to the impending arrivals, which would further overwhelm the supply situation.

Aug 04 - Sugar buyers retreat amid high freight prices, drive down diffs -BP Bunge 

High transoceanic freight prices caused sugar consumers around the world to pause their buying and use stocks, leading to a temporary glut of the sweetener in the main export port of Santos, Brazil, that drove down price differentials. According to BP Bunge Bioenergia, the sugar and ethanol venture owned by BP Plc and Bunge Ltd, Brazilian sugar was sold at times at a discount to New York raw sugar futures in July, instead of the conventional premium over futures, as many sugar importers left the market.

Aug 04 - EU 2021/22 soft wheat exports at 962,949 tonnes by Aug. 1 

Soft wheat exports from the European Union in the 2021/22 season that started in July had reached 962,949 tonnes by Aug. 1, data published by the European Commission showed on Tuesday. That was down from 1.48 million tonnes by the same week in 2020/21, the data showed.

Aug 03 - MOL eyes 90 LNG-powered vessels by 2030 amid wider climate concerns
- Rotterdam bunker LNG prices higher than fuel oil prices
- Critics fear LNG unsuitable for 2050 climate targets

Aug 03 - BP raises oil price assumptions, promises output recovery after 25% Q2 slump

- Supply constraint underpins higher 2025 price outlook
- Looney defends transition plan, restructuring 'largely complete'

Aug 03 - HSFO, LSFO open interest on ICE ticks up in July
- Open interest for HSFO forward curves up 1.89% on month
- Open interest for Singapore MF 0.5%S forward curve up 1.13% on month

Aug 03 - Strong utility demand boosts Singapore 180 CST HSFO front-month structure
Bullish demand from the utility sector, especially in South Asia, lifted the front-month Singapore 180 CST high sulfur fuel oil September/October spread to an 18-month high.

Aug 03 - Maersk lifts outlook as supply chain disruptions push up shipping rates 

The world's biggest container shipping company, A.P. Moller-Maersk, on Monday lifted its full-year earnings outlook after reporting strong preliminary quarterly results as chaotic conditions in the global supply chain pushed freight rates higher. In the wake of the coronavirus pandemic, shortages of container ships and logjams at ports around the world combined with high consumer demand for material goods have caused freight rates to skyrocket to record levels. 

Aug 03 - Egypt's GASC buys 60,000 tonnes of Romanian wheat in tender 

Egypt's state grains buyer, the General Authority for Supply Commodities (GASC,) said on Monday it had bought 60,000 tonnes of Romanian wheat in an international tender. GASC had been seeking the grain for shipment between Sept. 24 and Oct. 4.

Aug 02 - Asia residual fuels: Key market indicators for Aug 2-6
The cash differential for the FOB Singapore 180 CST high sulfur fuel oil assessment was expected to rebound in August after dipping in late July as pricing for late August and early September-delivery cargoes from power generation utilities comes into effect, traders said.

Aug 02 - Americas Bunkers: Key market indicators Aug. 2-6
Spot bunker pricing in the Americas registered a second consecutive week of increases with the aid of stable to heightened demand and bullish global oil prices.

Aug 02 - Asia middle distillates: Key market indicators for August 2-6
Asian middle distillate markets are starting the Aug. 2-6 trading week on a steady note, with tightening gasoil supply balances and healthy Asian exports supporting the sector, while demand for jet fuel/kerosene remain suppressed by tight travel restrictions amid a spike in COVID-19 transmissions caused by the delta variant.

Aug 02 - Russia mulls pegging tax on mining firms to global metals prices - Interfax 

Russia is considering pegging a mineral extraction tax (MET) levied on its metals producers to the global price of their products from 2022, the Interfax news agency reported on Friday, citing Deputy Finance Minister Alexei Sazanov. Moscow has been trying to protect its defence and construction industries from further growth in raw materials costs as metals prices rise at a global level.

Aug 02 - Pakistan said to buy about 220,000 tonnes wheat in tender - trade 

A government agency in Pakistan is believed to have bought about 220,000 tonnes of wheat in an international tender for up to 500,000 tonnes which closed this week, European traders said on Friday. The Trading Corporation of Pakistan (TCP) was believed to have bought all the wheat at an estimated $304 a tonne c&f all for September shipment, they said.

VLCC market to stay supported amid coronavirus outbreak: International Seaways

"Cargoes are still moving and the liftings are still happening," Zabrocky said. In Full »

INTERVIEW: Mercuria subsidiary Minerva Bunkering starts operations at Fujairah

"Between our bunker tankers and the storage terminal, we think we're logistically well positioned," Baron said. In Full »

TANKERS: Panama Canal to decrease maximum allowable draft to 45.5 ft

The ACP said that the change is based on the present and projected level of the Gatun Lake for the upcoming weeks. In Full »

Singapore LSFO prices have hit bottom, but sustained demand unlikely before April: traders

"We have received more inquiries in the last two trading days than when prices were low last week," a bunker supplier said. In Full »

All transport needs to be decarbonized to hit EU's Green Deal target: consultancy

If the European Commission is to achieve its 2050 net-zero ambitions then all transport needs to be fully decarbonized, including aviation, consultancy Transport and Environment said Wednesday. In Full »

Big Oil's resistance to coronavirus-led price drop set to be tested

Oil majors are likely to keep investment plans intact in the coming months but could have to reassess should oil prices drop well below $50/b for a sustained length of time, according to analysts. In Full »

EC sets out climate law to hit net zero emissions by 2050

The European Commission unveiled Wednesday its legislative proposal to enshrine in law a goal to reduce the greenhouse gas emissions to net zero by 2050. In Full »

Saudi-led coalition in Yemen says it foiled oil tanker attack in Arabian Sea

The Saudi-led coalition in Yemen fighting Iranian-aligned Houthi rebels said Wednesday it had foiled an attack on an oil tanker in the Arabian Sea by four remote-controlled boats. In Full »

Open interest for ICE March Singapore HSFO swap contracts rises 18% on month in Feb

Total open interest for the March Singapore high sulfur fuel oil swap contracts traded on the Intercontinental Exchange rose 18% month on month to 6.13 million mt as of February 28, data from the exchange showed this week. In Full »

Weak European refining margins prompt run cuts, crude values slide

In Full »

Gazprom Neft boosts IMO 2020-compliant marine fuel sales by 47% in 2019

Russian oil major Gazprom Neft sold around 350,000 mt of IMO 2020-compliant marine fuel in 2019, about 47% higher than 2018's level, the company said in a press release.