Freight News

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.

Jul 30 - CONTAINER PREMIUMS: Spread between US Atlantic, Pacific Coast all-inclusive rates narrowing
The spread between eastbound trans-Pacific all-inclusive container freight rates to the US East and West coasts is slimming as demand for West Coast imports increases, while ports remain heavily congested.

Jul 30 - China raises export tariffs for some steel products again in green push  

China will raise export tariffs for pig iron and ferrochrome, and remove export tax rebates for 23 steel products from Aug. 1, the second adjustment in three months as it seeks to ensure domestic supply while controlling output to curb emissions. Export tariffs for high-purity pig iron will be lifted to 20% from 15%, and for ferrochrome will be increased to 40% from 20%, the Ministry of Finance said in a statement on Thursday.

Jul 30 - China metals body names 66 certified importers for copper, aluminium scrap  

China published the third list of 66 domestic firms that would be allowed to import copper and aluminium scrap on Thursday, the country's metals recycling body said in a statement. The world's biggest metals consumer had given a green light to two batches of domestic importers and foreign suppliers for metals scrap trade as it banned imports of solid waste from 2021 on environmental concerns.

Jul 29 - China demand powers Fortescue shipments to record, beats annual estimate  

Australia's Fortescue Metals Group Ltd on Thursday narrowly beat its full-year estimate for iron ore shipments after a record fourth quarter, as strong demand from top consumer China offset the impact of bad weather. The world's fourth-largest iron ore miner fared better than rivals Rio Tinto and BHP, whose June quarter output dropped because of weather disruptions in Western Australia.

Jul 29 - Australia's BlackEarth Minerals wins export rights in Madagascar  

Australia's BlackEarth Minerals said on Thursday it had received rights to export its graphite concentrate from Port d'Ehoala in southern Madagascar. Graphite is considered a "critical" mineral with a range of application, including in the manufacturing of batteries for electric vehicles and in electrodes used for steel making.

Jul 28 - June refinery output rises as gasoline, bunker fuel lead recovery
Brazil's refineries registered year-on-year output growth in June as increased production of gasoline and bunker fuel offset barrels of diesel lost to maintenance shutdowns, according to the National Petroleum Agency's latest production report released July 28.

Jul 28 - Mediterranean tanker rates face pressure from tightened product market
Thinning refined product cargo availability is likely to place downward pressure on clean tanker markets in the Mediterranean in the near term, and more tonnage expected from incoming gasoline shipments from the north and naphtha from the US is likely to put additional weight on shipowners' resolve to maintain rates.

Jul 28 - FBX Overview (Freightos)

- Asia-US West Coast prices (FBX01 Daily) are $18,345/FEU. This rate is 566% higher than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) are $19,620/FEU, and are 487% higher than rates for this week last year.

- On the heels of natural disasters in Canada and Europe, Typhoon In-Fa made landfall on China’s central coast at the end of last week, disrupting operations at ports in Shanghai and Ningbo, and cancelling flights at airports in the region. Operations are expected to rebound by mid-week, though the storm will further challenge an industry already struggling with delays and congestion.

- Lockdowns due to the coronavirus outbreak in Vietnam continue to cause serious problems for logistics in the region. Miranda Qin, Project Manager at Seabay Logistics, a China-based freight forwarder and logistics provider on the Freightos.com marketplace, reports that operations are being significantly impacted in many ways ranging from “cancelled flights, sailings and rail service, to increasing difficulty securing containers or chassis, or even getting email replies from our logistics partners there.”

- These latest disruptions as well as sustained peak levels of demand continue to put tremendous pressure on ocean rates, keeping them extremely elevated or climbing, even as carriers announce significant upcoming surcharges on ex-Asia lanes.

- Prices on transpacific lanes, with the aforementioned update, are now at record highs of $18,346/FEU to the West Coast, more than 6x its level a year ago, and an astounding $19,620/FEU to the East Coast, more than quintuple its rate last July –  even as the peak of peak season may still be ahead of us.

- Rates from Asia - N. Europe, for example, climbed 4% since last week, but are more than eight times higher than a year ago, and have increased nearly two and half times since the start of the year on a combination of scarce containers, clogged ports and growing demand.

Jul 28 - Vessels on Parana river face 40% load reduction by end-Sep
- Bulk carriers operating in Argentina’s Rosario export hub face the likelihood of loading 40% less grain by the end of September or early October as water levels continue to fall the key Parana river, Guillermo Wade, general manager of the Chamber of Port and Maritime Activity, has told Agricensus.
- Handymax ships, that normally load between 35,000 and 40,000 mt, will probably load 17,000-18,000 mt less due to the lower water levels by that time if the river conditions continue to deteriorate as expected.
- For panamax vessels, with a capacity of up to 70,000 mt, ships could be loading up to 21,000 mt less volume, Wade said.
The executive also said that bulk carriers are currently loading 21% less of grain at Rosario ports due to the low water levels in the river.

- Bulk carriers that cannot complete grain loads at Rosario ports have to go to Necochea or Bahia Blanca terminals, in the south of Buenos Aires Province, or to ports in the south of Brazil to complete loads, generating higher costs for shipping companies
- 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 complex 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. According to the latest available data from Argentina’s national water institute (INA), water levels near Rosario are currently around 0.04 metres versus the historical average of 3.22 metres for July.
- Based on weather forecasts, those levels are only expected to continue to decline with no improvements in water levels expected for the next three months, according to the INA.
Earlier this week, 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.

Jul 28 - S.Africa's Transnet says will soon lift force majeure after cyberattack  

South African state logistics firm Transnet said it would soon lift a force majeure for its container terminals that it declared following a cyberattack that disrupted operations. The cyberattack, which has hampered container terminals at Trasnets's ports from Thursday, could cause backlogs and hobble the region's exports of goods to international markets.

Jul 27 - Oil demand recovery, supply outlook favorable for clean tankers: Ardmore

The product tanker market fell into low earnings at the start of the third quarter, following typical seasonality, but forecasts of rebounding oil demand by the end of 2021 and longer-term tanker supply dynamics have given clean tanker owners a bullish outlook, Ardmore Shipping CFO Paul Tivnan, said July 27 in the company's Q2 earnings call.

 Jul 26 - Americas Bunkers Key market indicators July 26-30
Pricing for retail marine bunkers entered the week beginning July 26 on a firmer foot but facing an uncertain oil complex, which could see effects on demand from a resurgent global spread of the coronavirus and lower Chinese demand.

Jul 26 - Global supply chains buckle as virus variant and disasters strike  

A new worldwide wave of COVID-19. Natural disasters in China and Germany. A cyber attack targeting key South African ports. Events have conspired to drive global supply chains towards breaking point, threatening the fragile flow of raw materials, parts and consumer goods, according to companies, economists and shipping specialists. Given ships transport around 90% of the world's trade, the crew crisis is disrupting the supply of everything from oil and iron ore to food and electronics.

Jul 26 - Historic low river levels force Argentine grains ships to cut cargoes by 25%, ports chamber says  

Ships leaving the Argentine grains hub of Rosario on the Parana River are having to cut cargoes by 25% due to severely low water levels, the head of the local ports chamber said on Friday, with no relief in sight and the area expected to stay dry for months. The Parana, which carries some 80% of Argentina's farm exports, is at a 77-year low level amid prolonged dryness upriver in Brazil, which has impacted shipments of the country's key exports, including soy, wheat and corn.

Jul 23 - Bunker prices drop on week after OPEC+ supply announcement
Firming sentiment of tightened supply in the regional bunkers market failed to offset concerns of more crude oil returning to the global scene, after bunker prices dropped on the week in response to the OPEC+ supply announcement.

Jul 23 - European VGO: Six vessels load in week to July 23
Loadings of European vacuum gasoil in the week to July 23 totaled 77,910 mt, up from 49,500 mt in the week previous, according to Platts trade flow software cFlow, with six vessels loaded.

Jul 23 - Global fuel recovery shrugs off delta danger on path to pre-pandemic norms
With most global trade taking place on the high seas during the pandemic, bunker fuel demand has remained resilient and is expected to rebound to average 3.6 million b/d this year after dipping 11% during 2020, Platts Analytics states.

Jul 23 - UK fuels supply group plays down pandemic shortages as BP faces driver issue
"Our supply chain has been impacted primarily by the industry-wide driver shortages across the UK," BP said.

Jul 23 - S Korea's EWP buys VLSFO for July 25-29
The company last bought via tender 25,000 mt of 540 CST LSFO with maximum 0.3% sulfur for delivery to Ulsan over Jan. 22-26 , CFR, S&P Global Platts reported previously.

Jul 23 - S Korea's EWP seeks VLSFO Aug 5-9 delivery
The company last bought via tender 25,000 mt of 540 CST LSFO with maximum 0.3% sulfur for delivery to Ulsan over July 31-Aug. 4, CFR. Buyer details could not be confirmed.

Jul 23 - India's MRPL offers 25,000 mt VLSFO for H2 August loading
MRPL last sold 25,000 mt of IMO-compliant fuel oil loading over Aug. 6-8 to Shell.

Jul 23 - Bunkering lead time for Singapore-delivered MF 0.5%S lengthens amid tight supply
The premium for supply of Singapore ex-wharf marine fuel 0.5%S bunker on a term contract basis for August dates were being inked at a premium of $3.50-$3.75/mt over Singapore Marine Fuel 0.5%S cargo assessments, industry sources said.

Jul 23 - China June fuel oil exports jump 31% on year to 1.7 mil mt
All these exported fuel oil barrels were under warehouse trade and processing trade regime, suggesting that they were all for bonded bunkering.

Jul 23 - Vitol Bunkers adds first offshore location to USGC, Caribbean supply offering

This deepwater supply point complements Vitol Bunkers' existing presence in port locations across the US.

Jul 23 - Cyber attack disrupts major South African port operations  

A cyber attack has disrupted container operations at the South African port of Cape Town, an email seen by Reuters on Thursday said. Durban, the busiest shipping terminal in sub-Saharan Africa, was also affected, three sources with direct knowledge of the matter told Reuters. 

Jul 23 - Port of Rotterdam freight volumes rise as trade recovers  

Freight volumes in the port of Rotterdam rose 5.8% on a yearly basis in the first half of 2021, as international trade recovered from its coronavirus slump, Europe's largest sea port said on Thursday. Traffic took a big hit from COVID-19 in the first half of 2020, and despite its recovery, throughput is still not back at levels seen before the outbreak of the pandemic, port authorities said.

Jul 22 - Four Ukrainian ports restrict grain operations due to poor weather  

Four major Ukrainian Black Sea ports have restricted grain loading operations due to poor weather, the state seaport authority said on Thursday. The restrictions applied to the ports of Odessa, Chornomorsk, Mykolayiv and Pivdeny, the authority said without elaborating.

Jul 21 - Bunker supplier Trefoil launches CO2 compensation service after EU climate proposal
- Carbon offset price a small fraction of bunker cost
- Shipping faces inclusion in EU emissions trading system

Jul 21 - First electronic bunker delivery completed in Singapore, amid calls for more digitalization
- E-BDN relied on a mass flow meter
- Calls for digitalization to raise transparency, lower costs

Jul 21 - Novorossiisk opens new deepwater berth for grain exports
- Azov Sea FOB wheat prices in 2021 up 19% on year
- Sea Asia, Middle Eastern destinations favor large vessels

Jul 21 - NWE low sulfur fuel oil crack hits new two-month high
- LSFO crack hits highest level since May 2021
- Rising LNG prices boosting utility demand for LSFO

Jul 21 - Bunker deliveries at China Zhoushan port seen suspended July 22 on typhoon: suppliers
"It is currently estimated that we cannot bunker on the 22nd to the 26th due to the impact of the typhoon," a bunker supplier for Zhoushan said.

Jul 21 - Fujairah Oil inventories rise on weak gasoline demand
- Inventories still lower than May, June levels
- Light, heavy distillate stocks build, but middle distillates draw

Jul 21 - Japan set for 60% non-fossil fuel power supply in 2030 in GHG slash drive
Japan's LNG share in the energy mix is set to be around 20%, coal 19% and oil 2% in FY 2030-31.

Jul 21 - South Korea's bunker fuel market to remain oversupplied until August:
sources
- SK Energy raises production in July
- Prices competitive even amid weak demand

Jul 21 - China's June soybean imports from Brazil fall as crushing margins decline  

China's soybean imports from Brazil slipped in June from a year earlier, customs data showed on Tuesday, as poor crushing margins weighed on demand. China, the world's top buyer of soybeans, brought in 10.48 million tonnes of the oilseed from top supplier Brazil, slightly down from 10.51 million tonnes the previous year, a record high, according to customs data. 

Jul 21 - Rhine in south Germany still closed to shipping but waters falling  

Parts of the river Rhine in south Germany stayed closed to shipping on Wednesday despite receding water levels in the wake of recent torrential rains, authorities said, while flagging prospects for traffic to be freed up soon. The southern Rhine rose last week after record rainfall and floods that caused heavy loss of life in Germany's worst natural disaster in almost six decades.

Jul 20 - USGC middle distillate shipments to Europe at 120,000 mt in August so far: cFlow
European traders continue to report the arbitrage from the US Gulf Coast as closed, however the European market remains well balanced, with Asian barrels and local production meeting the rising summer demand.

Jul 20 - East of Suez ULSD flows to Europe at 90,000 mt for August so far:
cFlow
The European ultra low sulfur diesel market is well balanced, with summer demand ticking up, particularly in the Mediterranean, according to traders.

Jul 20 - Goldman pushes back forecast for $80/b Brent after crude price sell-off

- Brent crude seen averaging $80/b in Q4 2021
- Platts Analytics sees Brent under $70/b in Q4

Jul 20 - Scrubber retrofits postponed amid growing focus on green marine fuel:
Wartsila
- Hi-5 stable in H1 2021
- Wartsila points to Hi-5 uncertainty ahead

Jul 20 - UK environmental committee launches inquiry into curbing aviation, shipping emissions
- To consider how UK can hit net-zero pathway for aviation, shipping
- Government already planning new policy to curb transport emissions

Jul 20 - Uniper explores green ammonia offtake from Oman's Hyport Duqm hydrogen project
- Uniper to negotiate exclusive ammonia offtake
- 250-500 MW green H2 plant online in 2026

Jul 20 - SOS: Stranded and shattered seafarers threaten global supply lines  

About 100,000 seafarers are stranded at sea beyond their regular stints of typically 3-9 months, according to the International Chamber of Shipping (ICS), many without even a day's break on land. Another 100,000 are stuck on shore, unable to board the ships they need to earn a living on. The Delta variant devastating parts of Asia - home to many of the world's 1.7 million commercial seafarers - has prompted many nations to cut off land access to visiting crews, in some cases even for medical treatment. Just 2.5% of seafarers - one in every 40 - have been vaccinated, the ICS estimates. 

Jul 19 - Americas Bunkers: Key market indicators July 19-23
The decline seen at the start of this week in global oil prices will likely guide bunker markets in the Americas after days of uncertainty and mixed behavior in most regions, where local fundamentals prevailed over international influences.

Jul 19 - German floods add to problems for commodities in region
Catastrophic flooding in Germany, Belgium and the Netherlands over the last week has caused transport and production disruption in the Rhine valley, a major shipping route for commodities in Northern Europe.

Jul 19 - Capitol Crude: Energy convergence breaks down silos as industry confronts climate change
The so-called energy convergence is the idea that companies, policy makers and regulators need to be more collaborative across the energy spectrum.

Jul 19 - Iran gears up to use new oil exports terminal
The new terminal, whose construction took six years, walks around the chock point of Strait of Hormuz. Iran's main exports terminal is on the Kharg island in the Persian Gulf.

Jul 19 - Port operations in South Africa begin to recover following unrest
- Logistical complications continue
- Bunkering has continued throughout the situation

Jul 19 - Europe and Africa Residual Fuel: Key market indicators
0.5% bunker demand has been slow in European markets on the week ending July 16, with one trader attributing this to the "summer slump". Availability has been good across all ports.

Jul 16 - Hong Kong May fuel oil imports down 29% on year at 3.8 mil barrels, up 96% on month
- January-May imports fall 21% to 15.9 million barrels
- Pandemic quarantine rules cut bunker demand

Jul 16 - Singapore Residue stocks rise 1.17% on week as fuel oil exports fall 23%
- Fuel oil exports fall as volumes to South Asia, North Asia, Philippines plunge
- Fuel oil imports fall as volumes from Europe, Russia, Africa decline to zero

Jul 16 - Singapore-delivered marine fuel 0.5%S premiums at 3-month high on tight supply, demand uptick
Traders have attributed the firming valuations to an uptick in demand in the recent past, while on the supply side, expectations are for the market to increasingly feel the pinch from tightening availability.

Jul 16 - Hong Kong yet to see full recovery in bunker demand after lifting quarantine rule

- China's competitive prices take away demand from Hong Kong
- Bunker-only calls not favorable amid high freight rates

Jul 16 - Japan's MOL partners with Methanex for advancing methanol as a marine fuel
- MOL to acquire 40% stake in Waterfront Shipping
- Decarbonization goals in focus for shipping

Jul 16 - Container Midmonth premium increases bring trans-Pacific all-inclusive spot market to fresh highs
Ocean carriers took a raft of freight all-kind (FAK) and premium service increases on July 15, which pushed all-inclusive freight rates to new highs as shippers continued to compete for heavily constrained equipment and space.

Jul 16 - International Seaways, Diamond S Shipping merge to form tanker giant
- Merger forms second-largest US-listed tanker company by vessel count
- Firming bunker prices stifle margins

Jul 16 - ARA fuel oil stocks down 2.3% on week at 1.207 million mt: Insights Global
Traders reported good volumes in the Mediterranean 0.5% sulfur marine fuel market, as weakened freight rates meant that arbitrage deliveries to Singapore were less possible.

Jul 16 - Brazil sees spate of corn contract washouts, threatening exports, traders say  

Weather-related problems with Brazil's second corn crop have sparked a spate of companies exiting their contracts on washout clauses, causing what some traders described as potentially the biggest wave of export cancellations for the world's No. 2 supplier in five years. According to grain traders and brokers who spoke to Reuters on condition of anonymity, a lot of the corn earmarked for exports is being redirected to the domestic market as premiums are attractive due to shortfalls after the crop was hit by drought and an ill-timed frost.

Jul 16 - Bad weather hits Rio Tinto's quarterly iron ore exports ahead of results bonanza  

Rio Tinto reported a 12% fall in quarterly iron ore shipments on Friday after storms affected its West Australian operations, but is expected to report bumper results this month on soaring prices for the steel raw material. Rio said it now expects to ship near the lower end of its range of 325 million tonnes (mt) and 340 mt in calendar 2021, meaning it may hand back its crown as the world's biggest producer to Brazilian rival Vale S.A.

Jul 15 - Dirty Tanker Summer doldrums to continue in near term amid reduced flows
As the year moves further into the summer doldrums for crude shipping, dirty tanker freight rates already at or below break-even levels are set to remain depressed into the traditionally low-freight third quarter of 2021.

Jul 15 - Maersk CEO backs EU's Fit for 55 package for shipping
The International Maritime Organization has adopted measures to reduce a ship's carbon intensity, along with existing targets for 2030 and 2050, but some industry players are concerned the body has not gone far enough.

Jul 15 - UAE $1 bil green ammonia project to start in 2024; targets Europe, US markets
The company plans to target regional and international markets, mainly Europe and the United States, Marar said.

Jul 15 - Fujairah June bunker sales fall 0.17% on month led by LSFO
Total sales dropped to 671,857 cu m in June from 672,991 cu m in May, according to Fujairah Oil Industry Zone data on its website.

Jul 15 - Pakistan State Oil seeks 3 LSFO cargoes for H2 Aug-Sep
PSO issued three separate buy tenders seeking three cargoes of LSFO, according to the state-owned oil company's tender documents. It is also seeking four high sulfur fuel oil cargoes, to meet demand from the power sector.

Jul 15 - Panama bunker fuel sales fall on month in June as high sulfur fuel demand slides
Total sales were 18.7% higher than the 302,330 mt registered in June 2020, the month most heavily impacted by fallen demand due to the coronavirus pandemic.

Jul 15 - Japan bunker traders compete fiercely for spot business in Tokyo Bay amid oversupply
"China is taking demand from container ships," the first trader said.

Jul 15 - EU proposes adding shipping to its carbon trading market  

The European Commission on Wednesday proposed adding shipping to the bloc's carbon market for the first time, adding pressure on an industry, which had for more than a decade avoided the European Union's system of pollution charges, to become greener. Shipping is seen as one of the trickiest sectors to decarbonise, with industry groups citing a lack of commercially viable technologies.

Jul 15 - South Africa's Durban port suffers major disruption over violence  

South Africa's Durban port has suffered major disruption after days of unrest, and operations have also been badly affected at the Richards Bay port and on a national freight rail line, logistics and freight companies said on Wednesday. The violence erupted last week in KwaZulu-Natal province, where Durban is located, after the jailing of former president Jacob Zuma but it has rapidly escalated in widespread looting and destruction in several other provinces.

Jul 14 - Panama Canal Authority extends east lane maintenance through July 17
The Panama Canal Authority has extended for the second time ongoing maintenance on the waterway's east lane at the Gatun Locks through July 17, pushing the maintenance window seven days past the original July 4-10 expected outage.

Jul 14 - EU proposes curbs on shipping fuel emissions, minimum tax rate on marine fuels
The European Commission proposed July 14 limits to greenhouse gas content of energy used by ships, a minimum taxation rate for marine fuels, and the inclusion of shipping emissions in the EU's emissions trading scheme for the first time under a raft of measures to decarbonize the region's transport sector.

Jul 14 - Middle East-Japan VLGC rates fall to 4-month low, but recovery expected

On July 13, the Middle East-Japan freight was valued at $33/mt, with some room for declines, shipping sources said.

Jul 14 - ATLANTIC SUPRAMAX: Historic bull run sets tone for remainder of year
Atlantic Supramaxes have continued their upward ascent in the second quarter, following on from an auspicious start to 2021 with an atypically strong Q1, with almost all major trading routes in the Atlantic achieving record highs.

Jul 14 - Ever Given container ship leaves Egyptian waters - source  

The Ever Given container ship that had blocked the Suez Canal in March left Egyptian waters at 4 a.m. local time following inspections at Port Said, a canal source said on Tuesday. Ship tracker MarineTraffic showed the Ever Given to be underway in the Mediterranean Sea north of the Egyptian coast.

Jul 14 - Shipping industry seeks to combat dark oil transfers at sea  

Top oil shipping companies say they have tightened operational guidelines and deployed technology to prevent accidental breaches of sanctions, as the countries hit by ever tougher restrictions fight back with elaborate strategies to dodge them. Washington has ramped up shipping-related sanctions over the last two years to make it harder for countries, such as Iran and Venezuela, to export the oil that provides their main source of revenue.

Jul 13 - Panama Canal LNG transits jump 12% through three quarters of current fiscal year
LNG tanker transits through the Panama Canal recorded a 12% increase from October through June compared with the same period a year earlier, the Canal operator data shows.

Jul 13 - SWISS buys Neste SAF amid push for decarbonization
This delivery of SAF is sufficient to fuel more than 175 short-haul flights and will be fueled at Zurich Airport via the conventional hydrant system, the joint statement said.

Jul 13 - Hong Kong balance July ex-wharf bunker premiums jump on firm cargo values, lift of quarantine
HK bunker suppliers continue to buy bunker fuel on spot basis due to higher ex-wharf premiums, a bunker trader said.

Jul 13 - Singapore June bunker sales rise 7.4% on year to 4.11 million mt
The year-on-year gains followed a near 32% rebound in sales of bunker grade high sulfur fuel oil, or HSFO.

Jul 13 - Kuwait's new LNG import facility receives commissioning cargo
The commissioning cargo was sourced from Qatar and delivered by the 217,000 cu m Q-Flex class Al Kharsaah tanker on July 12.

Jul 13 - Commodity broker FIS to launch freight, fuel, emissions product
"We are building on FFAs (Forward Freight Agreements) to FFEs (Freight, Fuel, Emissions)," Banaszkiewicz said.

Jul 13 - Slow pace of European hydrogen policies could see private investors 'run away'
"We need much stronger policies, and faster" van Hulst said at a Euractiv virtual panel debate.

Jul 13 - High inland middle distillate stocks, competitive refineries make Rhine closure inconsequential
Inland middle distillates markets were unaffected by high water levels and closures on the Rhine, as inland stocks and refineries have been more competitive than barrels from the Amsterdam-Rotterdam-Antwerp trading hub and inland stocks remain high despite a narrow contango.

Jul 13 - Clean Tanker quarterly Markets face increased vulnerability in summer months
Overwhelming tonnage, closed arbitrage opportunities and firming bunker fuel prices were the mainstays of the clean tanker markets for most of the second quarter, and will likely be the case heading into Q3 in the West of Suez basins.

Jul 13 - Too late for an August deal, OPEC+ still hopes to head off oil squeeze

OPEC and its allies have thrown in the towel on clinching an oil supply accord for August and are now hoping for a deal to cover September and beyond, delegates told S&P Global Platts, though little progress has been made in the standoff between Saudi Arabia and the UAE.

Jul 13 - Kuwait receives first LNG import at Al Zour as power demand surges
The shipment -- delivered on a Qatari Q-Flex tanker -- consisted of 213,000 cubic meters of LNG, while a second 217,000 cu m shipment from Qatar has also been scheduled, according to a July 12 announcement on the Kuwaiti state-owned news service, Kuna.

Jul 13 - Bankers eye Europe renewable hydrogen opportunity with caution
European developers have announced over 5 GW of electrolysis projects to be commissioned by 2024 and conversations with banks have begun, but it looks like the sector will have to learn to walk before it can run.

Jul 13 - Shipping sector renews calls for bunkering meters in Europe's key port hub
As a result, a number of industry figures, including product tanker company Hafnia Group, have called for mass flow meters to circumvent these disputes.

Jul 13 - Tank sizes an issue for future marine fuels, Sea-LNG
Liquefied ammonia requires twice the storage space of LNG.

Jul 13 - EEX launches dry freight index showing cost of carbon  

German energy exchange EEX on Monday launched a zero carbon freight index (ZCFI) which combines the bourse's dry freight and emission permits prices to show operators how accounting for carbon emissions could affect freights. Decarbonisation of the shipping value chain is already well underway and will continue to be front and centre for ship owners, charterers and financiers in the decade ahead. 

Jul 13 - China's June coal imports soar to highest so far in 2021  

China's coal imports in June rose 35% from a month earlier to their highest level in 2021, driven by robust demand from power generation and industrial activity in the country. China brought in 28.39 million tonnes of the fossil fuel last month, up from 21.04 million tonnes in May, and 12.3% higher compared to June of 2020.

Jul 12 - Industrial partnership to study Normandy carbon capture and storage
A first phase under a Memorandum of Understanding would seek to reduce CO2 emissions in the Axe Seine/Normandy area by three million mt per year by 2030, the companies said.

Jul 12 - Jul 12 - Asia residual fuels: Key market indicators for July 12-16
According to Platts data, the spread between delivered marine fuel 0.5%S at Hong Kong and Zhoushan narrowed to $8/mt on July 9, from $10/mt the previous day.

Jul 12 - Europe and Africa residual Fuel : Key market indicators
The premium for delivered 0.5%S marine fuel over barges at Rotterdam fell 50 cents/mt week on week to $9.00/mt.

Jul 12 - Russia : Throughput at nation's seaports for Jan-June rises 0.3% on year
In the Caspian basin, overall throughput for January-June fell 12.2% on the year to 3.67 million mt, the ministry said. Dry cargoes fell 30.2% to 1.26 million mt, and liquids rose 1.4% to 2.41 million mt.

Jul 12 - Shell agrees five-year deal with PetroChina for supply of carbon-neutral LNG
The carbon credits used to offset life-cycle CO2e emissions generated from the cargo delivered on July 12 come from Shell's global portfolio of emission reduction projects, it said.

Jul 12 - Oil trader Trafigura buys stake in major US salt cavern storage facility

Jul 12 - Russia Jan-May oil product exports stay steady on year
Russia's refined oil product exports over January to May were 0.6% higher year on year at 62.081 million mt, customs data showed July 12.

Jul 12 - East of Suez ULSD flows to Europe at 810,000 mt for July so far: cFlow
Around 810,000 mt of East of Suez ultra low sulfur diesel is set to arrive in Europe in July so far, according to S&P Global Platts trade flow software, cFlow.

Jul 12 - Brazil's Petrobras to sell 62.5% Papa-Terra stake to 3R Petroleum
Brazilian state-led oil company Petrobras agreed to sell its 62.5% operating stake in the offshore Papa-Terra Field to new private-equity backed player 3R Petroleum for $106.5 million, Petrobras said July 12.

Jul 12 - US Treasury allows LPG exports to Venezuela in possible sign of easing sanctions
The US Department of Treasury granted a sanctions waiver July 12 allowing US companies to export or re-export LPG supplies to Venezuela, the first move by the Biden administration to ease sanctions on the economically hard-hit country.

Jul 12 - India June oil products demand rises 1.5% on year to 4.3 mil b/d
India's demand for oil products in June rose 1.5% year on year to 16.3 million mt, or 4.3 million b/d, the latest provisional data from the Petroleum Planning and Analysis Cell showed on July 12, reflecting an improvement in oil demand after the second wave of the coronavirus pandemic in Asia's third-largest economy.

Jul 12 - Americas Bunkers: Key market indicators July 12-16
In Santos, Brazil, the fuel dropped $16, or 2.8%, to $546/mt and in Buenos Aires, it retreated $15, or 2.6%, to $570/mt. It is not looking good lately, a market source said talking about days of low demand in the Argentinian market.

Jul 12 - European Energy Exchange launches zero carbon freight index
Price information is taken from the highly liquid EEX Dry Freight FFA market which is then combined with EEX EUA Futures to create a daily Zero Carbon FFA rate which reflects a 100% carbon reduction, the bourse said.

Jul 12 - Hydraulic oil spills in Melaka Straits after bulk carrier collides with containership
The Panamax bulk carrier Galapagos has spilled hydraulic oil in the Melaka Straits after colliding with the 15,000 Teu mega container ship Zephyr Lumos over the weekend, Malaysia's maritime authority said July 12.

Jul 12 - Egypt's Suez Canal annual revenue hits record $5.84 bln  

Egypt's Suez Canal revenue rose to a record $5.84 billion in its 2020-21 financial year (July-June), up from $5.72 bln in the previous year, the Suez Canal Authority said on Sunday. The Authority also said the canal's revenues in the first six months of this year increased to about $3 billion compared with $2.76 billion in the same period last year, despite the grounding incident of container ship Ever Given in March.

Jul 12 - Algeria buys about 30,000 T milling wheat in tender for two ports - trade  

Algeria’s state grains agency OAIC has purchased a small volume of optional-origin milling wheat in an international tender which closed on Thursday which sought shipment to two ports only, European traders said on Friday. Estimates of volumes bought were around 30,000 tonnes and price was put at around $288 a tonne c&f. More details are possible later.

Jul 09 - Maersk highlights unexpected costs of building methanol-fueled vessel
- Conventionally produced methanol 43% costlier than LNG
- Existing infrastructure for methanol as a bunker fuel

 Jul 09 - Double whammy for food buyers as freight costs spike amid high grain prices  

Rising costs to ship crops globally are adding to concerns about food inflation that are already at decade-highs and hitting cost-sensitive consumers in import-dependent markets. The cost of bulk carriers that move grains and oilseeds from production hubs in the Americas and Black Sea to key consumers have roughly doubled from last year due to rising fuel costs, tighter vessel supply and longer port turnaround times amid COVID-19 curbs, according to grain and shipping sources. 

Jul 08 - Med gasoil differential hits first premium to LSGO futures in 3 months
 

The market collapsed to a $10/mt discount against the LSGO futures May 17, which represented a 12-month low.

Jul 08 - Japan advances study for 1.5 mil mt/year blue ammonia supply from Russia's Far East
Japan expects to lower ammonia supply costs to the high Yen 10s/normal cu m-H2 by 2030.

Jul 08 - Jebel Ali port operations normal after container ship explosion and fire:
UAE minister
- Ocean Trader fire was far from main shipping line
- Authorities drafting plan to 'intensify precautionary measures'

Jul 08 - Argentine province orders ports strike to be lifted while wage talks resume 

The government of Santa Fe province in Argentina late on Wednesday ordered port workers to suspend a day-old strike that had blocked grains shipments at the country's main agricultural export hub and mandated wage negotiations be resumed. Protests by port construction workers in Argentina's key grains hub Rosario had snarled exports, with roads blocked at some of the area's key export terminals, an industry official told Reuters earlier on Wednesday.

Jul 07 - Fujairah crude storage set to reach 10 mil cu m, more projects being discussed: FOIZ

Current crude, product storage combined exceeds 10 mil cu m.

Jul 07 - S Korea's bunker fuel demand shows signs of picking up
Given the volatility in the Asian fuel oil cargo market, buyers have drifted to the sidelines awaiting clear pricing cues, or pull spot inquiries in anticipation of price corrections.

Jul 07 - Ultra large container ship Ever Given released from Suez Canal
- Cargo deliveries to hinge on GA adjustment
- Ever Given's next survey at Port Said

Jul 07 - Vietnam domestic motor fuel demand to sink further as COVID-19 wave spreads
This new wave in Vietnam is very serious. It has spread quickly and the government is doing all it can to contain it, one market source based in Vietnam told Platts.

Jul 07 - KPI OceanConnect completes 1st carbon-neutral fuel supply to aid sustainable shipping
The voluntary carbon units were derived from a wind farm in Texas and verified by Verra Registry, KPI OceanConnect said in a statement on July 6.

Jul 07 - Fujairah Oil product stocks fall to six-week low on higher summer demand
Heavy distillates inventories were down 33% from this time last year, according to the FOIZ data provided exclusively to Platts. Stockpiles may continue to decline after Pakistan State Oil bought 65,000 mt of 180 CST high sulfur fuel oil, with maximum 3.5% sulfur from Vitol for delivery to Port Qasim over July 21-29 at a premium of $52.28/mt to the Mean of Platts Arab Gulf 180 CST HSFO assessments, CFR, Platts reported earlier.

Jul 07 - FBX overview

- Asia-US West Coast prices (FBX01 Daily) dipped 6% to $6,533/FEU. This rate is still 151% higher than the same time last year.

- Asia-US East Coast prices (FBX03 Daily) increased 6% to $10,340/FEU, and are 209% higher than rates for this week last year.

As peak season heats up and ocean lanes continue to face delays, more carriers including Maersk and CU Lines announced the addition of new transpacific services which will add some badly needed capacity, with others adding to Asia-Europe lanes as well. Maersk’s service will cater to premium shipments only, and with virtually no spare ships to be found, these additions could come at the expense of capacity on other less overwhelmed lanes.

One sign that this may already be the case is spiking rates on lower-volume trade lanes where capacity restrictions tend to have an amplified effect on prices.  Rates from Europe to the West Coast of South America, for example, climbed 18% this week, and have nearly tripled in just the last six months to $2,507/FEU.

Jul 07 - Ever Given's Suez Canal detention order lifted, says lawyer 

An Egyptian court has lifted the detention order on the Ever Given container ship, allowing its expected release from the Suez Canal on Wednesday, a lawyer and judicial sources said. The Ever Given's owners and insurers announced on Sunday that they had reached a settlement with the Suez Canal Authority (SCA) over compensation for the ship becoming grounded in March and blocking traffic in the waterway. 

Jul 07 - Algeria issues wheat tender for shipment to small ports - trade  

Algeria's state grains agency OAIC has issued an international tender to buy milling wheat to be sourced from optional origins, European traders said on Tuesday. The tender sought a nominal 50,000 tonnes to shipment to two ports only: Mostaganem and/or Tenes.

Jul 06 - ICE Brent falls 3% as market digests OPEC+ production stalemate
Crude demand is expected to rise in the coming months as lockdown restrictions ease globally.

Jul 06 - EC targets transport emissions in 2030 decarbonization drive
New carbon market planned for road transport, buildings.

Jul 06 - Euronav announces project to accelerate ammonia as fuel for tankers
Initial ammonia prices may be almost four times current LNG price.

Jul 06 - Russia aims to double methanol exports with start of a new plant by 2025
Pechora LNG to provide feedstock ethane.

Jul 06 - Singapore 180/380 CST HSFO spread widens to 8-month high on strong 180 CST demand
Pakistan among countries seeing demand grow as air conditioning consumption surges.

Jul 06 - Alfa Laval, Japan's NMRI succeed in onboard CO2 capture testing with scrubber
CCS a potential bridge technology for energy transition.

Jul 06 - Asia residual fuels: Key market indicators for July 5-9
The marine fuel 0.5%S cash differential surged to 82 cents/mt on July 1, the highest since April 28, S&P Global Platts data showed, before it edged down to 67 cents/mt on July 2.

Jul 06 - Argentine exporters say shipping costs to rise under proposed dredging system 

The costs of shipping grains from farming powerhouse Argentina would rise under the government's proposal for requiring cargo ships to pay tolls to the state rather than to the company that dredges the Parana River, industry leaders said on Monday. The government disagrees, saying it actually aims to decrease logistical costs while improving agricultural output.

Jul 06 - Ukraine does not see grain export limits for two months, official says 

Ukraine's agriculture ministry does not expect to impose grain export restrictions in the next two months of the 2021/2022 season that began on July 1, a senior ministry official said on Monday. The official said volumes of Ukrainian grain exports would be determined by the ministry, traders and domestic consumers by Aug. 30, the official added.

Jul 05 - Brazil corn export season kicks off timidly - shipping data 

Brazil's corn export season kicked off this month, albeit slowly, with the number of ships expected to load and depart with the product in July being less than half what it was in the same year-ago month, Cargonave shipping data showed. Some 39 vessels are lined up to load corn at Brazilian ports this month, down from 85 in the same period a year ago, according to Cargonave. 

Jul 05 - Four Ukraine Black Sea ports restrict grain loading operations 

Four major Ukrainian Black Sea ports have restricted grain loading operations due to poor weather, the state-run sea ports authority said on Monday. Rain has affected work at the port of Odessa, Kherson, Mykolayiv and Olvia, it said in a statement.

Jul 02 - Low refinery runs, good petchems demand support European feedstocks
Robust petrochemical markets lent support to LPG and naphtha in Europe during the second quarter which led refiners to maximize feedstock yields, a trend which should continue into the second half of 2021 alongside gradual economic recovery.

Jul 02 - Open interest for HSFO rises in June but continues downtrend for LSFO
Combined open interest on the forward curves for high sulfur fuel oil futures contracts rose in June as traders expected high sulfur fuel oil demand in the Middle East and South Asia, while open interest for low sulfur fuel oil futures ticked lower amid expectations of lower supply, ICE data showed July 2.

Jul 02 - Singapore marine fuel 0.5%S, HSFO cash differentials jump on tight supply
The cash differentials of Singapore fuel oil market both for marine fuel 0.5%S and high sulfur fuel oil jumped July 1 due to supply tightness and on expectations of demand increasing, S&P Global Platts data showed.

Jul 02 - Singapore Residue stocks rise 2% to 24 million barrels on higher imports

The stocks dropped for two weeks in a row until June 22 and rebounded in the week to June 30, according to the data.

Jul 02 - Argentina to contract Parana River dredging while long-term tender is drawn up 

Argentina will sub-contract the dredging of the Parana River, the country's key grains export superhighway, for one year while the government prepares a longer-term concession, according to a decree on Thursday. The decision raised concerns from private grain industry leaders who opposed an increased role for the state in the country's main logistics system.

Jul 02 - Brazil iron ore exports hit 9-month high in June, government says 

Brazil's iron ore exports reached 33.68 million tonnes in June, the highest volume in nine months, as major producers like Vale shipped more in response to higher international prices, official government data showed on Thursday. June exports were up 12.2% compared with the same month last year, the data showed. Compared to the previous month, June exports were up 26.3%. Commodities prices have been rising globally, and iron ore prices have been bolstered by strong demand from China.

Jul 02 - European mobility tracks sideways as Delta variant spreads
Economic land-based mobility in Germany, the UK, Spain, France and Italy remained around 14% below pre-COVID-19 levels compared to the prior week, according to Google data.

Jul 02 - Methanol producer Proman orders two more dual-fuel tankers

Jul 02 - Platts launches Zhoushan ex-wharf bunker assessment for Marine Fuel 0.5%S

Jul 02 - FOB Singapore fuel oil June volumes jump 80% on month on low inflows, utility demand
Trade volumes of FOB Singapore fuel oil in June in the S&P Global Platts Market on Close assessment process jumped 80% month on month to 360,000 mt, amid a relatively low inflow of arbitrage cargoes expected for July, as well as a growth in power generation demand from Pakistan, traders said.

Jul 02 - Singapore's bunkering operations pose some hurdles but MFMs a bright streak
Maritime industry players in Singapore are keeping a close watch on bunker fuel quantity disputes, as a slew of pandemic-related restrictions including contactless bunkering potentially reduces the scope for checks on bunker tankers and tough markets may tempt some unscrupulous players to benefit from the situation.

Jul 02 - Argentine gov. hands river control to port administrator AGP (Agricensus)
- A presidential decree has handed responsibility for the control and maintenance of the key Parana-Paraguay river network to Argentina’s general port administration agency (AGP).
Decree 427 confirmed that AGP will take control of the waterway concession for a 12-month period until a long-term international concession could be awarded in 2022 - but trade sources have warned that the new arrangement could damage the country’s grain export competitiveness. However, the government said that AGP’s concession could be potentially extended until a new concessionaire was selected. AGP will have the capacity to call for a specific tender to select a foreign firm to take charge of dredging and signaling along the key waterways.
- The presidential decree also stipulates that AGP will be in charge of collecting the toll paid by bulk carriers using the waterway and use those resources to pay for private dredging works.
In the current concession, the toll is collected by the private concessionaire.
- Belgian company Jan de Nul and Argentine company Emepa are still currently in charge of the concession despite their original contract expiring at the end of April, as the government was forced to extend the concession for three months. According to Gustavo Idigoras, head of grain exporters chamber CIARA-CEC, the toll charged to bulk carriers using the waterway should be collected by the private concessionaire and not by the state.
“If the toll is collected by the state, we all know what usually happens. The state transfer the resources to the Treasury, and the financial resources are then allocated to the waterway but also to other state programmes,” Idigoras told Agricensus.
“If this happens, the dredging company in charge of the operation could eventually run out of money and this could potentially result in higher tolls for exporters. Higher tariffs will mean lower exports,” he warned.
“We are urging the government to immediately call for a new long-term international tender to operate the waterway. If the government feels that it needs to carry out the tender in two different phases, this is a political decision by the government that we will not oppose. We need a new concession now as the extension of the current concession operated by Jan de Nul is about to conclude,” he said.
- Daniel Nasini, head of the Rosario Grain Exchange (BCR) told local newspaper Infobae that it was imperative to guarantee the continuity of the service in the short term, especially given the extraordinary circumstances of the historic low water levels in the Parana river.
“For this, it is essential that the works remain in the hands of specialized companies in the field, selected under a rigorous and transparent bidding process. The state has neither the experience nor the technical capacity to carry out these tasks,” Nasini reportedly said.
The national government is expected to continue working on the technical and economic details of a new concession, which would have a length of 15 years, according to previous reports.
- Three local universities are working to define the financial, technical and legal aspects of the future tender documents.
Dutch dredging companies Van Oord and Boskalis as well as Belgian companies Dredging International and Jan de Nul, and China’s CCCC Shanghai Dredging have expressed interest in the future long-term concession, according to previous press reports, although some radical sectors of the ruling coalition Frente de Todos are still urging the national government to fully nationalise the waterway.
The waterway encompasses 86 ports and conveys nearly 80% of all of Argentina’s agricultural exports, connecting ports in the Parana River with the Rio de la Plata river and on to the Atlantic Ocean.

Jul 01 - UK to extend quotas and tariffs on most steel imports 

Britain said on Wednesday it would introduce new regulations to help defend its steel industry after accepting a recommendation from its newly established Trade Remedies Authority to scrap some quotas on imports. Trade minister Liz Truss said the government only had the option of accepting or rejecting the recommendations in full, which said quotas and tariffs should be retained for 10 categories of steel for three years, and revoked in nine others.

Jul 01 - Turkey buys about 395,000 tonnes milling wheat in tender - trade  

Turkey's state grain board TMO has provisionally purchased an estimated 395,000 tonnes of wheat in an international tender for the same volume which closed on Wednesday, traders said. The tonnages purchased and prices are provisional and still subject to final confirmation in coming days, they said.

Jun 30 - Thailand's PTT offers IMO 2020-compliant fuel oil for July 19-21
PTT last sold 28,000 mt of IMO 2020-compliant fuel oil with 100-380 CST viscosity for loading over June 4-6 from Map Ta Phut at a discount of $6-$7/mt to Mean of Platts Singapore Marine Fuel 0.5%S assessments, a company source said.

Jun 30 - CMB targets ammonia dual-fuel ships from 2024, Antwerp hydrogen expansion
Belgian shipping company Compagnie Maritime Belge will run ammonia dual-fuel ships in new large vessels its fleet from 2024, as it navigates a transition away from fossil fuels, and expands its hydrogen refueling operations in Antwerp, according to CEO Alexander Saverys.

Jun 30 - Bangladesh's July HSFO imports likely to fall 10% on month on low industrial demand
The imports are likely to decline approximately 10% month on month to 337,500 mt, Karim added.

Jun 30 - Alfa Laval, Wallenius partner to develop wind propulsion for ships
The AlfaWall Oceanbird solution could reduce emissions by 90% on the largest ocean-going vessels, the statement said.

Jun 30 - VLCC fixtures shrouded in secrecy in ailing tanker market
A mostly transparent VLCC market is witnessing an increase in deals being concluded privately as a dismal freight market is offering charterers the luxury to quietly pick and choose their preferred owners as well as keep fixtures under wraps.

Jun 30 - Houston to play crucial role in energy transition: executive
The world will miss agreed climate protection targets without the deployment of large-scale negative emissions solutions by 2025, a coalition of UK industrial companies and investors said June 30.

Jun 30 - Hong Kong delivered 380 CST bunker to remain tight until mid-July
The supply of 380 CST bunker fuel for the delivered market in Hong Kong has tightened after the lifting of the 14-day quarantine rule in mid-June, and is expected to remain tight at least until the middle of July when replenishment cargoes are scheduled to arrive, bunker suppliers based in Hong Kong said June 30.

Jun 30 - July ex-wharf 0.5%S bunker premium at China's Zhoushan port sinks on supply overhang
The premium for ex-wharf marine fuel 0.5%S bunkers loading in July at China's Zhoushan port inched down to flat to a premium of $2/mt to Singapore Marine Fuel 0.5%S cargo assessments, from $4-$5/mt for June loading due to ample supply and thin demand, traders said during the week of June 28.

Jun 30 - Fujairah delivered bunker premium flips to discount amid limited demand
Bunker suppliers in Fujairah offered delivered marine fuel 0.5%S at competitive levels to capture a limited demand amid strengthening outright price, pushing delivered premium against FOB Singapore cargo price into negative territory.

Jun 30 - US crude exports' four-week moving average hits more than one-year high
US crude exports over the four-week period ended on June 25 rose to a more than one-year-high as exporters have benefited from particularly low freight rates, the US Energy Information Administration showed June 30.

Jun 30 - Anglo American completes biofuel trial to decarbonize ocean freight
The trial was conducted onboard the Frontier Jacaranda on a voyage from Singapore to South Africa.

Jun 30 - TEU Shippers paying thousands in ocean premiums even before peak season surcharges.

Asia-US West Coast prices increased 2% to $6,969/FEU. This rate is 167% higher than the same time last year.
Asia-US East Coast pricesdipped 2% to $9,781/FEU, and are 199% higher than rates for this week last year.

The Port of Yantian is now back operating at full capacity, but it will take weeks to clear the containers already at the port as well as the backlog of exports waiting to ship from manufacturers in the region.

According to Robert Khachatryan, COO of Freight Right Global Logistics, a freight forwarder that offers services on the Freightos.com freight booking platform, the disruption is also making it more challenging to secure empty containers, and is being felt in other ports in the region as well.

Jun 30 - Argentina to offer 1-year contract to dredge Parana grains transport river 

Argentina will offer a one-year contract to maintain the dredging of the Parana River, the country's key grains export superhighway, while the government prepares a longer concession, Transport Minister Alexis Guerrera said on Tuesday. The country's most important logistics system has been managed for 25 years by Belgian dredger Jan de Nul. The company is dredging the river under a 90-day contract it was awarded in April, and is expected to bid for the upcoming concessions.

Jun 30 - Colombia needs 2 more months to end delays in coffee exports 

Colombian coffee exporters will need at least two more months to catch up with delays in coffee shipments caused by the May anti-government protests, the coffee growers federation FNC said on Tuesday. Roberto Velez, FNC's chief executive, told reporters that around 700,000 bags of coffee could not be shipped during the protests that blocked roads to ports, but he said the flow of goods has been normalized in the country, the world's second-largest producer of arabica coffee.

Jun 29 - Danish bunker fuel supplier Monjasa to supply marine services to UAE RAK Ports

Jun 29 - Aramco Trading Company begins bunkering operations at Yanbu Port
Aramco Trading Company, or ATC, has begun bunkering operations at Saudi Arabia Yanbu Industrial Port, the company said in a June 29 statement.

Jun 29 - Asia residual fuels: Key market indicators for June 28-July 2
In the high sulfur fuel oil market, after the initial purchases of straight-run fuel oil, at least two of Shandong's independent refiners have expressed an interest in seeking high sulfur SRFO barrels on a more regular basis to avoid refinery run cuts in the short-term.

Jun 29 - Container ocean freight rates continue disrupting processed agricultural food commodities trade (IHSmarkit)

- Freight cost increasing further in July.
- Ocean freight rates from Bangkok to Los Angeles nearly double those of March.
- Severe port congestions continue in California and northern European ports

- Container ocean freight rates across the trans-Pacific route reported another increase for deliveries contracted in July, driving the cost of freight more than four times higher than in pre-Covid 19 times.

- There are severe knock-on delays at Asian ports like Singapore – which is a major export hub for Indonesian processors – driving spot freight costs even higher in south-east and east Asia ports.
Indonesia

- The shipping cost for a 20 ft container departing from Indonesia to Rotterdam or Felixstowe has increased from USD9,000 in mid-June to USD10,449 in July; to New York is up from USD14,000 in June to USD14,662 in July; to Los Angeles is up from USD11,000 in June to USD11,319, local industry sources confirmed today (28 June).

- At the time of writing, ocean freight rates contribute around 36% of the total cost the US-based buyer would pay for canned pineapple and nearly 35% for Europe – a 6xA10 standard tidbit carton is USD20/carton (1,000 cartons per 20ft container) equivalent.
“At the end, the final consumer will have to pay for it. Price will be increased. Big retailers in the US have increased selling prices already,” a local industry source commented.

Thailand

- Shipping rates per 20 ft container – valid until the end of June 2021 – from Bangkok to Rotterdam are in the range of USD6,400 (Hapag Lloyd); from Bangkok to Felixstowe or Southampton are USD8,500 per 20ft container (CMA); from Bangkok to Los Angeles are USD12,500 ( USD6,800 in March this year ) and USD16,500 to New York – USD21,000 per 40HQ + AMS USD35/set (Hapag Lloyd). Freight cost in July is expected to increase USD500-1,000 per 20ft container.

- The cost of freight for a canned pineapple 20 ft container contributes around 33% of the total cost if delivered to the US, 20% to Rotterdam and 25% to the UK – equivalent to Thai 24x20oz standard grade rings in light syrup, fob Bangkok, is USD19/carton (1,350 cartons/20ft).
- Shipping cost for canned tuna, including the latest increase of USD500-1,000 per 20ft container, would contribute around 21.7% of the total cost if delivered to the US, 11% to Rotterdam and 15% to the UK – equivalent to Thai canned skipjack chunks in brine, 48x185g, fob Bangkok, is USD32-33/carton (1,800 cartons in one container).

China

- Container shipping rates from China to Rotterdam currently range from USD7,700 per 20ft container (USD1,000/20ft in pre-Covid 19 times) and USD8,800 to Felixstowe.
- Accordingly, shipping cost for canned mushrooms would contribute 24% of the total cost of the final product – if canned mushrooms 6A10 is USD19/carton fob China (1,000 cartons per 20 ft container); shipping cost for canned peaches of new season produce would contribute around 40% of the total cost – if 24x1kg peach halves fob China is quoted USD18/carton this year.

2H 2022: some insights

- Shortages of containers and ocean vessels along with high ocean freight costs will continue constraining trade flows during the second half of the year, in the backdrop of the usual pre-Christmas hoarding needs.
“Customers are still contracting but are reluctant to place big orders and I believe they are buying more local products instead. Chinese canneries are producing according to orders when it is possible, trying to avoid stockpile,” a China-based industry source commented.

- In the UK, some canned pineapple products with origin Indonesia remain out of stock for a couple of weeks now in some supermarkets. “There is an ongoing port congestion at Felixstowe and Liverpool, and shortage of truck drivers; these are the main reasons for not being able to get the production in time,” one Indonesian industry source noted.

- Severe port congestions continue to be experienced in California, to where deliveries from Bangkok currently take between 30-60 days to unload “if you can find space and pay the rate”, IHS Markit was told.

- Thai canned tuna sources highlighted the drop of sales to South America, a market that last year received 46,000 tonnes of produce, is highly influenced this year by the surge of ocean freight cost. Thai volumes entering South America reached 11,700 tonnes for the January to May period this year, down 35% year-on-year, customs data shows. Consequently, “Ecuador will experience a higher demand of canned tuna products from all its markets in South America, Europe but also the US,” an industry source based in south-east Asia commented this week.

- Meanwhile, there are some recent developments from retailers getting involved in cargo management towards ensuring shipping space, such as that of US retailer Home Depot, which has secured a ship to exclusively carry its own cargo manufactured in China from July onwards. It is unknown what is the ship’s name, the duration of this arrangement and whether the retailer is working with a freight forwarder intermediary or not, but it evidences current shipping congestions and suggests there is a likelihood major retailers – in the food retail chain – will follow suite.

Jun 29 - Russian wheat export prices largely unchanged ahead of new season 

Russian wheat export prices were largely unchanged last week, supported by a new floating duty in Russia and improving crop forecasts ahead of the start of the new marketing season, analysts said on Monday. Wheat exports from Russia, Ukraine and Kazakhstan are expected to rise by 5% in the new 2021/22 marketing season, which starts on July 1, a Reuters poll showed earlier this month.

Jun 29 - Chinese export insurer chose DIFC for first office in Middle East  

China Export and Credit Insurance Corp (SINOSURE) has chosen Dubai International Financial Centre (DIFC)as the location for its first office in the Middle East, the Dubai Media Office said on Monday. SINOSURE is a state-funded and policy-oriented insurance company established to promote China's foreign economic, trade development and cooperation on a non-profit basis.

Jun 28 - ARA 0.1%S gasoil barge value falls to 2-month low

Jun 28 - Iron ore seen driving Australia's resources export earnings to a record in 2020/21 

Booming iron ore prices are expected to account for nearly half of Australia's record export earnings from resources this financial year and the country anticipates further gains ahead, according to a government report on Monday. Earnings from Australian resources exports are estimated to come in at a record A$310 billion ($235.41 billion) in the 2020-2021 financial year ending in June, rising to A$334 billion the following year as industrial activity ramps up following COVID-19 restrictions.

Jun 25 - The Parana River, the main export waterway for grains in Argentina is facing low water levels for the second consecutive year. 

As many as 60 barges have been trapped by impassable water levels, and some vessels may remain stuck until September according to AgriCensus. Water levels at the Port of Rosario in mid-June were 0.60 meters compared to the historic average of 3.5 meters. A lack of rainfall in June is expected to draw down water levels even further.

Jun 25 - Med bunker fuel market under pressure from weak demand, closed arbitrage to Singapore
Bunker fuel values in the Mediterranean market are coming under further downward pressure as local summer demand fails to emerge while arbitrage opportunities to the East remain limited, according to trade sources.

Jun 25 - USGC HSFO reaches two-year high
US Gulf Coast HSFO reached its highest level in more than two years June 25 on a stronger paper market despite consistent market fundamentals, sources said.

Jun 25 - China's COSCO, Dalian exchange ink pact on shipping futures 

China's COSCO Shipping Group and the Dalian Commodity Exchange (DCE) have signed an agreement to jointly work on developing shipping derivatives such as container capacity futures, according to an article posted by the bourse on Thursday. China's largest shipping line has been talking to the DCE for years about shipping futures. Their pact comes as a global shortage of containers - including on the key trade route from China to the United States - has led to high freight rates and as coronavirus curbs cause congestion at ports. 

Jun 25 - Ever Given operator says more time needed for ship release 

The operator of a giant cargo ship that blocked the Suez Canal in March said on Thursday that it would take more time for the vessel to be released from detainment while a final agreement with Egyptian authorities was being concluded. The Japanese owners and insurers of the ship were locked in a compensation dispute with the Suez Canal Authority (SCA), but announced on Wednesday that an agreement in principle had been reached.

Jun 24 - First hydrogen cargo into Germany to be delivered 2024: H2Global
Germany's green hydrogen import initiative H2Global expects physical delivery of a first cargo into Germany by end-2024, Timo Bollerhey from the H2Global Task Force told S&P Global Platts June 24. In Full »

Jun 24 - Global mobility wobbles after hitting post-pandemic high, as COVID-19 delta variant spreads
Oil demand indicators in most of the world's biggest consuming economies slipped back from post-pandemic highs in the week to June 20, according to mobility data, as concerns grow over the impact of the highly infectious delta variant of the COVID-19 virus as it spreads across the globe.

Jun 24 - NWE gasoline exports to WAF pick up on cheaper freight
After three consecutive weeks of falling exports, loadings of gasoline from Northwest Europe for delivery to West Africa have risen sharply this week, according to Kpler data.

Jun 24 - European middle distillates hit 17-month high on buoyant futures, gradual demand uptick
Bullish sentiment across oil markets pushed outright prices for European middle distillates to a 17-month high June 23, while a gradual uptick in demand lent extra strength to ultra low sulfur diesel and jet fuel.

Jun 24 - EU grain industry warns of import surge from green goals 

European Union targets to reduce the environmental impact of farming could cut crop production sharply and turn the bloc into a net cereal importer, grain industry group Coceral said on Wednesday. Under its "Farm to Fork" strategy set out last year, the European Commission proposed objectives for 2030 including expanding organic production to 25% of farmland from 8% currently, and cutting pesticide use by 50%.

Jun 24 - Agreement in principle reached over Suez Canal ship dispute 

The owners and insurers of a giant cargo ship that blocked the Suez Canal in March have reached agreement in principle in a compensation dispute with the canal authority, their representative and the canal's chairman said on Wednesday. The Ever Given container ship has been anchored in a lake between two stretches of the canal since it was dislodged on March 29. It had been grounded across the canal for six days, blocking hundreds of ships and disrupting global trade.

Jun 23 - Russia may supply up to 1 mln T of wheat to Algeria in new season - expert 

Russia may boost supplies to Algeria to up to 1 million tonnes of wheat in the 2021/22 marketing season, which starts on July 1, Eduard Zernin, who heads the Russian union of grain exporters, told Reuters on Tuesday. Russia, one of the world's largest wheat exporters, sent 28,000 tonnes of wheat to Algeria - the first such shipment in more than four years - earlier this week. 

Jun 23 - S.Africa to revamp ailing port system, says Ramaphosa  

South Africa's National Ports Authority (NPA) will operate as a stand alone business under the aegis of state-owned freight logistics group Transnet, President Cyril Ramaphosa said on Tuesday, as the country tries to overhaul some of the world's worst-performing ports. A report last month ranking container ports by the World Bank and IHS Markit saw South Africa's major ports at the bottom of the list, with Durban faring the worst among local peers by coming in at 349 out of a total of 351 ports assessed globally.

Jun 22- BMTI Handy Bulk Market Update

The low number of fixtures reported is self-explanatory. The deadlocked situation is the market’s latest variant. The charterers currently feel less inclined than the owners to move. If the shipowners are invited to make a move, they often come up with ridiculous numbers for fear that a more reasonable number would be quickly outdated. Fertilizer brokers report about their clients’ traders complaining about the higher than calculated fixtures done by their shipping department. There is no marketplace where owners are facing losses, unheard of in the last decade. From the Red Sea, the owners of a 35,000 dwt were seeing US$ 25,000 for 4-6 months of trading, whilst talking US$ 34,000 daily.

Grain brokers expect ECSA front haul rates to move to US$ 24,000 daily plus US$ 1,400,000 BB and anticipate for August a rate of US$ 26,000 daily plus US$ 1,600,000 BB. And what to do, when the owners want the equivalent of US$ 55,000 for August shipment for 30,000mt of grains from the Black Sea to West Africa, which today should be in the low US$ 30,000s. Can one really expect the market to move for this type of tonnage beyond US$ 50,000 daily for this trade within a period of six weeks? There have been rumours of two Supramaxes having been fixed at US$ 39-40,000 daily for a front haul trip, which isn’t surprising at all, seeing numbers from Red Sea for this size of tonnage risen to beyond US$ 50,000 daily for a trip to India. Furthermore, the Handysize owners of 36-38,000 dwt are said to be talking US$ 37-38,000 daily for a trip to the East.

Last week’s Handysize numbers from the Med-Black Sea area also suggest that there seems more to come. A rate of US$ 30,500 daily on a 33,000 dwt ship for a trip from Canakkale via Black Sea to St. Lawrence is the result of limited interest by owners in general to consider the St. Lawrence. And the one to go for it is getting a premium. Even the 28,000 dwt vessels are said to be getting rates in the low US$ 20,000s daily for Black Sea-Mediterranean area trading. Handysize numbers are also up in the East and are edging towards US$ 30,000 daily for back haul trips to the Atlantic, whilst actual numbers being fixed are still below this level. A 57,000 dwt vessel was taken for a trip from the CJK area to the US Gulf at rate of US$ 27,000 daily. The owners of a 33,000 dwt ship open Columbia River have been holding out for a level of US$ 30,000 daily for a short period.

Jun 22 - New compensation offer made over Suez Canal blockage 

The owners of a container ship that blocked the Suez Canal in March have made a new offer in a compensation dispute with the canal authority, and a court ruling on the case was postponed for two weeks on Sunday to allow more time for negotiations. The giant Ever Given container ship has been anchored in a lake between two stretches of the canal since it was dislodged on March 29. It had been grounded across the canal for six days, blocking hundreds of ships and disrupting global trade.

Jun 21 - African demand helping to buoy Asian motor fuel fundamentals: sources
The steady appetite for transportation fuels from Africa is helping to lend support to Asian motor fuel markets, with traders continuing to find opportunities from the continent to move cargoes amid waning demand in Asia.

Jun 21 - US clean tanker owners weigh options amid increased appetite for trans-Pacific naphtha flows
Clean tankers positioned in the Americas are showing resistance to trans-Pacific voyages despite demand for naphtha exports from US Gulf Coast into Northeast Asia, citing high bunker prices, weak daily earnings and bearish freight market at discharge as deterrents to reposition.

Jun 21 - Maersk VC co-leads funding round in Egyptian start-up Trella  

Egyptian startup Trella, a digital platform connecting truckers with freight loads, has raised $42 million in equity and debt, including from the venture capital arm of shipping giant Maersk, its chief executive said. Founded three years ago in Cairo, Trella operates in Egypt, Saudi Arabia and Pakistan. It is one of several technology firms around the world seeking to upend traditional truck brokerages.

Jun 21 - China's May soybean imports from Brazil surge 82% vs April 

China's May soybean imports from Brazil jumped 82% from the previous month, bolstered by the arrival of cargoes due to land earlier but delayed by rains, customs data showed on Sunday.  China, the world's top importer of soybeans, brought in 9.23 million tonnes of soybeans from the South American country in May, up from 5.08 million tonnes in April, data from the General Administration of Customs showed.

Jun 18 - IMO adopts carbon reduction metrics but defers discussion of carbon levy
- $100/mt CO2e levy due for discussion in October
- Framework for measuring CO2 emissions from ships agreed

Jun 18 - Hong Kong 0.5%S marine fuel rises above S Korea price on strong demand
- Lifting of 14 days' quarantine boosts demand in Hong Kong
- Korean bunker market weakens on ample supply, weak demand

Jun 18 - Argentine port unions say to go on 24-hour strike over vaccine access 

A coalition of nine Argentine port worker unions will go on a nationwide 24-hour strike starting at midnight to press for vaccinations against the coronavirus, the labor groups said in a statement on Thursday. Workers including tugboat captains and customs officers have held similar work stoppages recently, as the South American grains powerhouse gets hit by a second wave of COVID-19 cases. 

Jun 18 - China's growing bunker fuel market squeezes out N. Asian competitors

China is reshaping global shipping fuel markets by taking advantage of its booming maritime trade and massive refining capacity to undercut rivals from Singapore to South Korea and become the world's fastest-growing major marine fuel hub. China's rising influence in marine fuels, globally worth over $100 billion a year, has been made possible by a surge in its fuel output and thriving trade thanks to being home to the world's largest manufacturing base and four of the five busiest global container ports.

Jun 17 - ARA fuel oil stocks up 13% on week at 1.486 million mt: Insights Global
The increase in fuel oil inventory levels was mainly due to unfavorable economics for sending product -- mostly 0.5% sulfur marine fuel -- eastward.

Jun 17 - Kuwait dust storms triggers tanker congestion at ports
- Tanker congestion at 9.1 days, from 1.6 days
- Aviation sector not affected

Jun 17 - Egypt's GASC amends wheat tender book to allow suppliers to present shipment bids 

Egypt's state grains buyer, the General Authority for Supply Commodities (GASC) on Wednesday amended its tender book for international wheat purchases to allow suppliers to directly present shipment bids for their cargoes, a document seen by Reuters showed.  The change comes after GASC cancelled its latest wheat tender on Tuesday, a move many traders attributed to high shipping prices presented at the tender. 

Jun 16 - Anglo American sees LNG offer significant potential as maritime transition fuel
- IMO's GHG emissions cut targets in focus
- Maturity of other alternative fuels to take time

Jun 16 - Sunnier skies for Hong Kong's bunker market after restrictions eased
- COVID-related restrictions in some China ports to aid demand switch
- Supply constraints likely to cloud market until June

Jun 16 - Singapore's Eastern Pacific Shipping joins ammonia bunker study for emissions reduction
EPS will be lending its expertise in the loading, transporting and discharging of gas, including ammonia, as a cargo, it said.

Jun 16 - Asia-Europe container rates hit all-time highs on Yantian delays
- Delays at Yanitan port cause container rates to spike
- Asia-to-Europe rates 12 times higher than a year ago

Jun 15 - Japan's NYK to build 12 LNG-Fueled pure car, truck carriers by fiscal 2028-29
Japan's NYK said June 15 it will build 12 LNG-fueled pure car, truck carriers, or PCTCs, by fiscal year 2028-29 (April-March) under memorandum of understandings with Shin Kurushima Dockyard and Nihon Shipyard as it sees LNG as "bridge" shipping fuel in its efforts toward zero carbon emission ships.

Jun 15 - Sales of bunker fuels in Panama show strongest performance since January 2020
- The increase was supported by marine gasoil and high sulfur bunkers
- Sales of marine fuel 0.5%S fell 2.9% month on month

Jun 15 - Brazil's wash water discharge allowance fails to spur interest in scrubbers
- Other countries unlikely to ease wash water restrictions
- Decarbonization issues contribute to scrubber uncertainty

Jun 15 - Europe and Africa residual Fuel Key market indicators this week
Rotterdam 0.5%S Marine Fuel FOB barges was last assessed at $502.25/mt on June 14, up from $494.75/mt in the previous week.

Jun 15 - Hong Kong drops ship quarantine requirement on bunker-only calls after 11 months
The move will boost demand for bunker fuel at Hong Kong ports, industry sources said.

Jun 15 - S Korea delivered marine fuel 0.5%S bunker differential hits near 1-year low on weak demand
- China attracts demand from other Asian countries
- China's import tax on LCO to have limited impact on bunker supply

Jun 15 - EU 2020/21 soft wheat exports 24.88 million tonnes by June 13 

Soft wheat exports from the European Union in the 2020/21 season that started last July had reached 24.88 million tonnes by June 13, data published by the European Commission showed on Monday. That was down from 33.94 million tonnes cleared by the same week last season, the data showed.

Jun 15 - UK set to scrap half of steel quotas designed to curb imports  

Britain plans to revoke about half the limits on steel imports that it inherited from the European Union when the quotas expire on June 30, the government said on Friday. The UK steel industry, which generates about $2 billion in turnover each year, has warned the government not to remove any of the EU's so-called safeguard measures, saying it could spur a flood of imports.

Jun 14 - Americas Bunker Key market indicators June 14-18
- Peru markets benefit from lack of supply in Ecuador
- 0.5%S-MGO spread widens in Vancouver
- Oversupply issues persist for US Gulf Coast

Jun 14 - Japan April bonded bunker fuel exports rise 5% on year to 2.9 mil barrels
- April bunker exports fall 10% on month
- Demand recovers from COVID-hit Q2 2020

Jun 14 - Singapore May bunker sales rise 3.7% on year to 4.07 mil mt
Although sales of 380 CST HSFO slid 10.2% on month, sales of the grade rose 38.7% on year.

Jun 14 - ICE LSGO futures net speculative length hits fresh 2.5-year high
Speculative net long positions in ICE low sulfur gasoil futures were up 4,741 contracts to a fresh two-and-a-half-year high of 155,419 in the week to June 8, according to ICE data.

Jun 14 - Belgium's Northstar Bunker restarts HSFO supply amid growing uptake for scrubber use
- HSFO spot demand picking up: Northstar
- Scrubber numbers on the rise

Jun 14 - Manufacturers eye onboard CCS to cut shipping emissions
- 2030 climate target for shipping is looming
- Likely future fuels more costly than current options

Jun 14 - BP Marine keeps Australia, New Zealand focus despite tepid bunker demand
"COVID-19 has had a huge impact on demand in the region," Tolani said.

Jan 14 - Brazil coffee exports fall 20% in May amid container shortage  

Green coffee exports from Brazil, the world's largest producer, fell 20% in May from the same month a year ago to 2.34 million 60-kg bags, exporters association Cecafe said on Friday, citing logistic issues as one of the reasons for the reduction. Cecafe said that an ongoing shortage of containers, as well as limited space in vessels, have prevented the country from shipping a higher coffee volume abroad last month.

Jan 14 - Congestion at South China ports worsens on anti-COVID-19 measures 

Congestion at container shipping ports in southern China is worsening as authorities step up disinfection measures amid a flare-up in COVID-19 cases, causing the biggest backlog since at least 2019.  More than 150 coronavirus cases have been reported in Guangdong province, a key manufacturing and exporting hub in southern China, since the latest wave of cases struck in late May, triggering local governments to step up prevention and control efforts that have curbed port processing capacity.

Jun 11 - Trafigura, Total join project to study using green ammonia as marine fuel 

- Cost a key issue for ammonia
- Small plants may emerge in 2025

Jun 11 - Norway hydrogen road map to create marine transport hubs, industrial projects by 2025
Norway aims to establish five maritime transportation hydrogen hubs by 2025, along with up to two industrial projects with hydrogen production facilities, the government said in a road map published June 11.

Jun 11 - NWE low sulfur fuel oil market flips to backwardation as Med demand firms up

Fuel oil traders talking to S&P Global Platts have said that the low sulfur fuel oil market has been supported by seasonal utility demand from countries in the Med.

Jun 11 - Australia's bunker demand falls sharply as cruise tourism sails in choppy waters
- VLSFO bunker demand drop likely 30%-50%
- Clear pathway for cruise industry recovery needed: CLIA

Jun 11 - ARA fuel oil stocks down 4.6% on week at 1.311 million mt: Insights Global
Availability of high sulfur fuel oil was heard to be satisfactory in the ARA region, as Russian quality M-100 fuel oil was heard heading to the US Gulf Coast to meet coker demand.

Jun 11 - Singapore Residue stocks rise 5.2% on week to 26.92 mil barrels on low exports
- Fuel oil imports rise 24.63% on week
- Fuel oil exports fall 53% on week

Jun 11 - China inspects for coal hoarding at northern ports – sources 

China has sent officials to inspect coal inventories and crack down on illicit hoarding at ports, following a surge of physical coal prices and tight supplies in the market ahead of the peak consumption season. Officials conducted research at Caofeidian port in Hebei province, and held meetings with port companies and coal trading firms on Thursday before heading to the nearby Jingtang and Qinhuangdao ports, according to three people familiar with the matter.

Jun 11 - Surging food import costs threaten world's poorest, FAO warns 

Food imports costs across the world are expected to surge to record levels this year, piling pressure on many of the poorest countries whose economies have already been ravaged by the COVID-19 pandemic, the U.N. Food Agency said on Thursday. These high costs may persist for a sustained period as nearly all agricultural commodities have become more expensive, while a rally in energy markets could raise farmers' production costs, the Food and Agriculture Organization (FAO) said.

Jun 10 - Taiwan's Formosa sells 40,000 mt of 180 CST fuel oil for end-June loading
Formosa is an occasional seller of fuel oil in the spot market, usually targeting sales of one cargo/month. Details of the company's last sell tender could not be ascertained.

Jun 10 - Dubai starts offering biofuel to small vessels, following similar move at Fujairah
- Wood boats on Dubai Canal use 1.1 mil liters/year of diesel
- Biofuels already offered in Fujairah

Jun 10 - Hong Kong bunker discount to gasoil widens as suppliers switch to another benchmark
- Benchmark for monthly ex-wharf contract shifts to Singapore MF 0.5%S
- Benchmark for longer-term contracts likely to switch to MF 0.5%

Jun 10 - Shipments via Belarusian section of Druzhba suspended on repairwork

In May deliveries were 3.252 million mt, or around 769,011 b/d.

Jun 10 - Brazil's imports of Argentine corn start to arrive 

The first shipments of Argentine corn have begun to arrive in Brazil to where a national crop failure, record high prices and high demand from the meat industry has made companies such as BRF Brasil Foods SA and JBS SA turn to imports. A shipment of about 35,000 tonnes landed at the end of May at the port of Paranaguá and a second shipment of about 30,000 tonnes arrived in Rio Grande in the middle of last week, according to the maritime agency Cargonave.

Jun 10 - Algeria buys about 480,000 tonnes of wheat in tender -traders  

Algeria's state grains agency OAIC bought about 480,000 tonnes of optional-origin milling wheat in an international tender that closed on Tuesday, European traders said. Traders on Tuesday evening initially put the purchase at around 400,000 tonnes. Estimates earlier on Wednesday ranged between 420,000 to around 500,000 tonnes, before most traders cited 480,000 tonnes as the overall volume.

Jun 09 - Hong Kong April fuel oil imports fall 42% on year to 1.9 mil barrels
- Jan-Apr imports fall 18.2% to 12.1 mil barrels
- Bunker demand weakens amid quarantine regulations

Jun 09 - Glander International Bunkering says 2020-21 bunker sales rise despite COVID-19 setback
- 2020-21 bunker sales volumes rise 18.7% on year
- Expanding into new markets, investing in green fuel

Jun 09 - Rising bunkers leave tanker owners reeling in falling markets

- Bunker increase crushes voyage earnings for both tanker markets
- Shipowners readjusting near-term strategies to compensate

Jun 09 - Vitol Bunkers offers carbon offsets ahead of new EU climate legislation
- EU ETS to be extended to shipping
- CEC credits have surged over 200% since January

Jun 09 - Fujairah Oil product stocks retreat across the board, light distillates near record low

Export volumes may remain firm as Japan's largest refiner, ENEOS, plans to shut its sole CDU at its 145,000 b/d Sendai refinery for scheduled maintenance over early June to mid-July.

Jun 09 - India's MRPL offers first 0.35% sulfur fuel oil cargo for export
Mangalore Refining and Petrochemical Ltd. has offered its first 0.35% sulfur fuel oil cargo for export via tender after a recent change in its crude feedstock slate, according to the company's Integrated Trading Desk, as the Indian refiner looks to maximize revenue for its very low sulfur fuel oil sales.

Jun 09 - Argentine grains exports hit by vaccine-related customs workers strike 

Argentine grains exports were bogged down on Tuesday by a seven-hour strike by customs officers pressing for access to COVID-19 vaccines, the latest in a series of work stoppages tied to the slowly unfolding inoculation program. Vaccine distribution has been delayed by supply problems in Argentina, prompting customs and other port workers to go on strike to pressure the government into designating them as essential workers entitled to inoculations on a priority basis.

Jun 09 - India's booming corn exports amid global rally ease supply worries 

India has stepped up corn exports as a rally in global prices to their highest since 2013 has made shipments from the South Asian country competitive, easing concerns about rising food inflation in Southeast Asia. Indian exporters have signed deals to sell around 400,000 tonnes of corn for shipment in June to July to animal feed producers in Vietnam, Malaysia, Sri Lanka and Bangladesh, according to two Singapore-based feed grain traders.

Jun 08 - China bunkering to hit rough patch on stricter COVID-19 checks at ports
"Bunker demand in China will go down but our main concern is shipping operations," a shipping source said.

Jun 08 - Marine fuel demand rises in Colombo after Mumbai closes bunkering amid monsoon
Mumbai authorities have closed off bunkering operations outside port limits between May 31 and September 15 due to the impending monsoon season.

Jun 08 - Argentine customs strike on Tuesday to hit grain exports - port manager 

Grain exports from Argentina were likely to be affected by a seven-hour strike by customs officers on Tuesday, as the officials press for priority access to coveted COVID-19 vaccinations, the port manager said on Monday. "It seems that it is going to affect all exports of all ports in Argentina," Guillermo Wade, manager of the Chamber of Port and Maritime Activities (CAPyM), told Reuters.

Jun 08 - Russian wheat export prices steady due to a stronger rouble 

Russian export prices for the summer's new wheat crop were steady last week due to a stronger rouble, which was supported by higher oil prices, analysts said on Monday. Prices for new-crop Russian wheat with 12.5% protein loading from Black Sea ports and for supply at the end of July were $256 a tonne free on board (FOB) at the end of last week, unchanged from the previous week, the IKAR agriculture consultancy said in a note.

Jun 07 - Energy rally pauses as market searches for next driver
Crude and refined product futures settled lower June 7 as the market looked for fresh drivers amid mixed global demand outlooks.

Jun 07 - Europe and Africa Residual Fuel: Key market indicators this week
Rotterdam 0.5%S Marine Fuel FOB barges finished the week to be assessed at $498.75/mt on June 4, up from $482.00/mt the previous week.

Jun 07 - Asia residual fuel: Key market indicators this week
There was some supply tightness of high sulfur fuel oil in Japan due to a refinery turnaround, but Japanese bunker traders expected the volume loss to be minimal in the week of June 7.

Jun 07 - Americas Bunker: Key market indicators June 7-11
Latin America spot bunker prices continued to advance on support from crude futures, improved demand in several countries and talk of supply constraints in Colombia and Ecuador.

Jun 07 - Trafigura, Yara to collaborate on clean ammonia value chain for shipping
- Research focus on use as maritime fuel
- Supply and demand 'needed in tandem'

Jun 07 - Marine fuel 0.5%S prices in Latin America climb back to pre-pandemic levels

Gradually recovering from the worst effects of the coronavirus pandemic in April and May 2020, pricing in Latin American ports had reached post-pandemic peaks in the first half of March only to decline again.

Jun 07 - Containership charter fixture rates eclipse previous record highs as tonnage market bull-run escalates

- 8,500 TEU vessel charters jump 330% on year
- Multi-year charters now the norm

Jun 07 - China's May soybean imports rise 29% on-month on delayed Brazil arrivals 

China's soybean imports rose in May from the previous month, customs data showed on Monday, as more cargoes from top supplier Brazil cleared customs. China, the world's top importer of soybeans, brought in 9.61 million tonnes of the oilseed in May, up 29% from 7.45 million tonnes in April, when some Brazilian shipments were delayed, data from the General Administration of Customs showed. 

Jun 07 - Argentine customs officials plan 7-hour strike over vaccine access  

Customs officials who process grains exports from Argentina said on Friday they will hold a seven-hour strike on Tuesday to press their demand for priority access to COVID-19 vaccinations. Tugboat captains and other maritime port workers held a similar protest last month until the government agreed to designate them as essential workers, thus making them eligible for vaccines against the coronavirus as the South American grains powerhouse gets hit by a second wave of infections.

Jun 04 - Crude pushes again to multiyear highs on tightened fundamentals, weaker US dollar
Crude futures pushed to new multiyear highs for a third straight session June 4 on tightened supply and demand fundamentals, and a weaker US dollar.

Jun 04 - China's COVID-19 measures on ships could push bunker demand to Singapore
China's COVID-19 prevention measures on ships could push bunker demand away from the country to other places such as Singapore, market sources said June 4.

Jun 04 - ARA fuel oil stocks jump 13% on week to 1.374 million mt:
Insights Global
Conditions in the European 0.5%S marine fuel market have been supply-driven of late, as the market battles with oversupply losing previous support from lessened arbitrage opportunities to Singapore.

Jun 04 - Total CEO sees blending mandates 'fundamental' for shift to hydrogen economy
- Creating a bigger hydrogen market key to plant scale
- Carbon storage needed to scale for blue hydrogen

Jun 04 - Bunkering at Colombo unaffected by 'X-Press Pearl' cleanup operation
The Singapore-flagged 'X-press Pearl', a container ship that departed Hazira, on the west coast of India, on May 15 reported a fire on deck on May 21 while in Colombo waters.

Jun 04 - Peninsula, Enagas to launch LNG bunker barge in Strait of Gibraltar
- LNG a potentially cost-effective option for 2030 climate targets
- LNG bunker barge Peninsula's first step to sustainable future: CEO

Jun 04 - Singapore June ex-wharf marine fuel term settles lower on supply overhang
Market sources on June 4 attributed the lower settlement levels this month to an oversupplied market across Asia coupled with weak demand.

Jun 04 - Major shipping firms warn of worsening congestion at China's Yantian port 

Major shipping companies have warned clients of worsening congestion at Shenzen's Yantian port in southern China following the discovery of several asymptomatic cases of COVID-19 in the city. Yantian International Container Terminal (YICT), one of China's busiest container ports with an annual handling volume of more than 13 million twenty-foot equivalent units (TEU), has imposed stringent disinfection and quarantine measures since May 21 when the virus was discovered among port staff.

Jun 04 - Suez Canal controlled speed of ship before it blocked waterway, insurer says  

The speed of a container ship that blocked the Suez Canal in March was controlled by the Egyptian waterway's operator before it ran aground, the vessel’s insurer said on Thursday. The statement from UK Club came after the head of the Suez Canal Authority (SCA) said the ship was sailing too fast when it became grounded, but that the canal bore no responsibility.

Jun 03 - EU climate proposals for shipping could cause biofuels overreliance: ICS
- Biofuel prices at record high on high demand, tight supply
- EU targets flag-neutral measures

Jun 03 - CMB opens Antwerp renewable hydrogen multimodal refueling station
"It is the first refueling station in the world that produces green hydrogen" via an integrated electrolyzer and compressor, CMB.TECH said.

Jun 03 - Yara inks agreement with Japanese maritime companies for ammonia-fueled gas carrier
- To study operational requirements, ship design, regulatory compliance
- Major bunker hubs like Singapore exploring ammonia potential

Jun 03 - S Korea's June bunker supply to stay at low levels, keep prices elevated: sources
- South Korea's bunker supply likely around 500,000 mt in June
- High prices unlikely to attract demand from China

Jun 03 - Singapore LSMGO prices may decline amid likely rise in LCO supply
"More LCO will go into the LSMGO pool, and most of it will likely come to Singapore given that it has the biggest pie [of bunkering in Asia]" a trader said.

Jun 03 - EU Council adopts conclusions on sustainable transportation
The EU Council on June 3 adopted conclusions on a Sustainable and Smart Mobility Strategy, setting out a commitment to align the transportation sector with the Paris Agreement on climate change.

Jun 03 - TFG Marine, d'Amico lead bio-bunkers project in Amsterdam-Rotterdam-Antwerp
- Supplies with B30 bunker
- Expanded trials to start mid-June

Jun 03 - Russia to maintain grain export taxes while global food demand high - Deputy PM 

Russia's new formula-based grain export taxes will remain in place as long as there is increased global demand for food, Deputy Prime Minister Victoria Abramchenko told Reuters. As one of the world's largest wheat exporters, Russia launched the taxes on Wednesday as part of measures Moscow hopes will help to stabilise domestic food inflation. 

Jun 03 - Japan to import 4,400 tonnes of feed wheat via tender 

Japan will import 4,400 tonnes of feed-quality wheat for livestock use through a simultaneous buy and sell (SBS) auction that closed late on Wednesday, the Ministry of Agriculture, Forestry and Fisheries (MAFF) said. The ministry had sought 80,000 tonnes of feed wheat and 100,000 tonnes of feed barley to be loaded by Sept. 30 and arrive in Japan by Nov. 25.

Jun 02 - MARINE FUEL 0.5%: Global oversupply, weak demand causes contango to emerge
The global marine fuel 0.5%S market remained oversupplied for much of May, hurting bunker premiums and resulting in the emergence of a contango market in Asia and Europe. Forward prospects look uncertain as to when the oversupply situation will see any improvement due to sluggish retail bunker demand.

Jun 02 - India's June VLSFO exports to fall amid weak demand: sources
- Fall in demand amid imminent monsoon, COVID-19 lockdowns
- Refiners announce reduced run rates

Jun 02 - LNG, bunker fuel in transition rather than transition fuel
- SEA-LNG chairman
- LNG bunker availability, pricing to favor its use
- Bio, synthetic LNG viable future options for decarbonization

Jun 02 - Fujairah Oil product stocks soar 16%, biggest jump in more than two years
- Product exports lowest since Nov 2020: Kpler
- Fuel oil stocks are up 31% this year

Jun 02 - Open interest for fuel oil forward curves falls in May as physical trades decline
- For Singapore MF 0.5%S forward curve falls 8.61% on month
- For HSFO forward curve falls 5.85% on month

Jun 02 - Maersk calls on carbon tax for fossil fuel bunkers to bridge transition gap
Maersk, the world's largest container company, is calling for a carbon tax on marine fossil fuels to push cost incentives for change as the shipping industry moves toward greener targets.

Jun 02 - Trans-Pacific container rates reach all-time highs as June general rate increases stick
Container spot rates on the trans-Pacific lane have surged above previous records as strong booking activity and limited supply led carriers to enforce large GRIs.

Jun 02 - Bad weather forces Ukrainian ports to restrict grain operations 

Half of Ukraine's major Black Sea ports have restricted grain loading operations because of poor weather, the state seaport authority said on Wednesday. The restrictions applied to the ports of Odessa, Chornomorsk, Mykolayiv, Kherson and Olvia, the authority said without elaborating.

Jun 02 - Russia's wheat exports seen down in new season, says Sovecon 

Russian agriculture consultancy Sovecon on Tuesday said it expects Russian wheat exports to decline to 36.6 million tonnes in the 2021/22 marketing season, which starts on July 1, from 37.7 million tonnes in the current season. Russia competes with the European Union (EU) for the rank of the world's largest wheat exporter. Egypt, Turkey and Bangladesh are the largest buyers of its wheat.

Jun 01 - Swire Shipping backs $100/mt CO2e levy amid calls for faster decarbonization
- Renewable fuels significantly more expensive
- Swire does not list LNG as a future fuel.

Jun 01 - Hong Kong June ex-wharf bunker benchmark shifts to MOPS marine fuel 0.5%S
- Premiums conclude at $18-$20/mt for June ex-wharf bunker
- The month-on-month changes are mixed.

Jun 01 - FOB Singapore fuel oil volumes in May decline 66.10% on high inventory, weaker downstream
- Marine fuel 0.5% trades decline 25% in May
- HSFO trades fall 73% amid weaker power demand.

Jun 01 - KPI OceanConnect eyes growth as bunker demand set to return: CEO
Marine fuel sales worldwide in 2021 will likely grow by 3%-5% year on year as demand returns despite the challenges posed by the global coronavirus pandemic, with KPI OceanConnect poised to seek expansion opportunities worldwide, according to Soren Holl, CEO of KPI OceanConnect.

Jun 01 - Americas Bunker's Key market indicators June 1-4

Spot marine fuel bunkers markets in the Americas entered June with mixed direction amid ongoing weak demand fundamentals, with some ports seeing mixed price movements.

Jun 01 - Bangladesh's June HSFO imports to rise 7% on month as post-holiday demand picks up

The easing of coronavirus restrictions mean increased industrial and business activities and higher HSFO consumption.

Jun 01 - Russian wheat export prices down with global benchmarks 

Russian export prices for the summer's new wheat crop fell last week after a decline in global benchmarks in Chicago and Paris, the IKAR agriculture consultancy said in a note on Monday. Prices for new-crop Russian wheat with 12.5% protein loading from Black Sea ports and for supply in the second half of July were at $256 a tonne free on board (FOB) at the end of last week, down $4 from the previous week, IKAR said.

Jun 01 - Saudi Arabia's SAGO agrees to buy 562,000 tonnes of wheat 

Saudi Arabia's state grain organisation (SAGO) has agreed to buy 562,000 tonnes of wheat for delivery between August and September at $299.55 average price per tonne, it said on Monday. The tender for up to 720,000 tonnes of hard wheat with 12.5 percent protein content had closed on Friday.

May 31 - Russia's wheat export tax will fall sharply in early June 

Russia's wheat export tax will fall sharply on June 2-8, the agriculture ministry said on Friday, as it started setting the size of its formula-based duty. Russia, one of the world's largest wheat exporters, decided to impose permanent formula-based grain export taxes earlier this year as part of other measures the government hopes will help to stabilise domestic food inflation.

May 31 - Egyptian court delays hearing in Suez container ship compensation case 

An Egyptian court on Saturday postponed a hearing in a compensation case filed by the Suez Canal authority against the owners of a container ship that blocked the canal for six days in March, giving the sides more time to negotiate, legal sources said. The Ever Given, one of the world's largest container ships, became jammed across the canal in high winds on March 23, halting traffic in both directions and disrupting global trade.

May 28 - Bunkerworld index: Prices rise but regional bunkers market see weak fundamentals
Bunker prices edged higher May 27 as positive demand outlook from the US economic data overshadowed expectations that OPEC+ production cuts are likely to ease.

May 28 - Marine fuel 0.5%S rises steeply in Colombia in a month of social protests and blockades
A month of social unrest has led to a sharp increase in marine fuel 0.5%S pricing in Colombia, as road blockades have been an obstacle to transport feedstocks to the country's ports.

May 28 - Platts includes New Global in Singapore Marine Fuel 0.5% MOC from May 17

S&P Global Platts has included the New Global vessel as an additional loading point in the FOB Singapore Marine Fuel 0.5% assessment process from May 17, 2021.

May 28 - European high sulfur fuel oil market picks up in North, weaker in Med
High sulfur product in the Mediterranean region was experiencing low demand, while availability in the North had been tighter, European fuel oil traders said.

May 28 - Saudi Arabia issues tender to buy about 720,000 tonnes wheat - trade 

Saudi Arabia’s main state wheat buying agency, the Saudi Grains Organization (SAGO) on Thursday issued an international tender to purchase about 720,000 tonnes of wheat, European traders said. The deadline for submission of price offers in the tender is Friday, May 28. Results are expected on Monday, May 31.

May 28 - Japan buys 124,620 tonnes food wheat via tender  

Japan's Ministry of Agriculture bought 124,620 tonnes of food-quality wheat from the United States and Canada in a regular tender. Japan, the world's sixth-biggest wheat importer, keeps a tight grip on imports of the country's second-most important staple after rice and buys the majority of the grain for milling via tenders typically issued thrice a month.

May 27 - ARA fuel oil stocks relatively stable on week at 1.220 million mt: Insights Global
Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp region saw a marginal increase of 0.49% to 1.220 million mt in the week to May 27, according to data from Insights Global, after a 4% drop the previous week.

May 27 - Big players call for shipping to reach zero emissions by 2050
The shipping industry must reach zero emissions by 2050, double the current industry target, key bunker sector players said in a statement May 27.

May 27 - Singapore bunkers see muted impact of VPS sediment content alert: sources
High TSP in deliveries made by multiple suppliers from April 25-May 19.

May 27 - KPI OceanConnect eyes growth as bunker demand set to return: CEO
- China's bunker fuel market becoming more competitive
- Liquidity pressure to spur industry consolidation globally
- IMO 2020 transition paves way to expedite shipping's decarbonization goals

May 27 - Port of Rotterdam to launch electric container shuttle system amid burgeoning demand
- EU transport goal of 60% reduction in GHG emissions from transport
- Recent increases in demand for container shipping
- Diesel, gasoil demand in W European transport about 4.4 mil b/d in 2019

May 27 - Singapore VLSFO demand for blending components wanes as bunker market stays flat
Singapore traders are exploring taking VLCCs on a short-term time charter basis for fuel oil and crude storage in Eastern Hemisphere, a source said.

May 27 - Singapore 10/500 ppm gasoil spread hits 1-year high as medium sulfur supply lengthens
Traders noted that exporters of LCO, such as South Korea, were already increasing medium sulfur gasoil output while trimming LCO production.

May 27 - Zhoushan Marine Fuel 0.5%S bunker premium to Singapore hits 11-month high
Singapore bunker prices were higher than Zhoushan over April 12-May 5 amid fierce competition in Zhoushan.

May 27 - Weak US Gulf Coast 0.5%S marine fuel demand pushes retail under barges
US fuel oil barges rose May 27 on stronger swaps and Brent futures, but physical demand remains weak enough that retail 0.5%S marine fuel is selling well below wholesale.

May 27 - Norway's Frontline expects tanker markets recovery despite Asian COVID-19 concern
- Market not out of the woods yet but demand outlook is promising: CEO
- Freight rates likely to remain under pressure in Q2, but H2 will be stronger

May 27 - Port strike in Argentina ends after vaccination deal reached - unions 

A nearly day-old port strike that snarled grains cargo traffic in Argentina was called off late on Wednesday after unions said they clinched a deal allowing them to be given priority in receiving COVID-19 vaccinations. The workers held a 48-hour strike last week over lack of access to vaccinations. The work stoppage was renewed early on Wednesday, paralyzing shipments from the world's No. 3 corn exporter and top supplier of soymeal livestock feed, used to fatten hogs and poultry from Europe to Southeast Asia.

May 27 - Indian mills sign sugar export deals without government subsidy (Reuters) 

Indian sugar mills have started selling sugar without the support of government subsidies, which could lift exports by 14% from a year ago to a record 6.5 million tonnes in 2020/21, industry officials told Reuters on Wednesday. The exports will help the world's second-biggest sugar producer to lower stockpiles and support local prices, which, at odds with the global market, have been under pressure from oversupply at home.

May 26 - Europe's biggest blue ammonia project enters concept study phase


May 26 - Hapag-Lloyd orders 60,000 TEU of containers amid soaring freight rates


May 26 - UAE to build $1 billion green ammonia facility in clean energy push


 May 26 - Argentine port workers say to hold another 48-hour strike starting Wednesday 

Argentine port workers said on Tuesday they would hold a 48-hour strike starting at midnight (0300 GMT Wednesday), after paralyzing agricultural exports from the country last week with an initial work stoppage over demands they be vaccinated against COVID-19. Cargo traffic at the ports hub of Rosario, from which about 80% of the country's grains exports are shipped, was snarled by last week's strike by tugboat captains and other maritime port workers. A group of 11 unions issued a statement late on Tuesday announcing the new work stoppage.

May 26 - Suez Canal Authority says door still open to negotiation with container ship owner 

The Suez Canal Authority (SCA) said on Tuesday it was still open to negotiating with the owners of a giant container ship which blocked traffic in the waterway for six days in March despite an ongoing litigation process in an Egyptian court. The Ever Given, one of the world's largest container ships, became jammed across the canal in high winds on March 23, halting traffic in both directions and disrupting global trade.

May 25 - Hafnia sees improvement ahead for weak oil product tanker segment
Hafnia said weak oil demand due to the coronavirus pandemic suppressed the product tanker market for most of Q1.

May 25 - Crude edges higher as market weighs US-Iran negotiations
ICE US Dollar Index dips in afternoon trading, on pace for lowest close since Jan. 6.

May 25 - Vitol announces new bunkering arm, expansion in marine market


May 25 - Egypt's GASC buys 240,000 tonnes of Romanian wheat (Reuters) 

Egypt's state grains buyer, the General Authority for Supply Commodities (GASC,) said on Monday it bought 240,000 tonnes of Romanian wheat in an international purchasing tender. GASC had been seeking an unspecified quantity for shipment Aug. 8-22.

May 25 - UK reviews tariffs on U.S. imports amid metal trade impasse   (Reuters) 

Britain said on Monday it had launched a review of its tariffs levied against imports from the United States in response to an ongoing trade conflict around steel and aluminium. The administration of former U.S. President Donald Trump introduced 25% and 10% tariffs on steel and aluminium imports, prompting retaliatory measures from the European Union that Britain kept when it left the bloc's economic system this year.

May 24 - Brazil's new gas regime opens market, but development of rules still necessary
First concrete step should come by mid-2021 via Mines, Energy Ministry expected to publish regulations surrounding New Gas Law approved by Congress.

May 24 - Crude climbs as improved demand outlooks offset concerns of rising supply
Rising vaccination rates across the US underscored bullish summer energy demand outlooks.

May 24 - Japan domestic clean product shipments fall 5.5% in March on weak demand
Domestic shipments of dirty products in March rose 4% year on year to 2.42 million kl, or 15.22 million barrels.

May 24 - Freight paper markets jump on news of Iran-US nuclear deal


May 24 - Stranded grains ships to be towed free from Rosario, says ports chamber 

Seven grains ships stranded at Argentina's export hub of Rosario will be towed free and sent out to sea after they were loaded with more produce than could be carried on the port's increasingly shallow waters, local authorities said on Friday. Rosario traffic has been snarled in the aftermath of a 48-hour strike by tugboat captains and other workers managing the flow of agricultural cargo ships.

May 24 - Court allows Suez Canal to keep holding Ever Given - lawyers 

An Egyptian court on Sunday rejected a complaint by the Japanese owner of a container ship that blocked traffic in the Suez Canal for six days in March against the vessel's continued detention by canal authorities, a lawyer said. The Ever Given, one of the world's largest container ships, became jammed across the canal in high winds on March 23, halting traffic in both directions and disrupting global trade.

May 21 - Singapore's HSFO bunker fuel sales stay firm despite switch to cleaner fuels


May 21 - ARA fuel oil stocks drop 4% on week to 1.214 million mt: Insights Global
Sluggish bunkering demand in Europe as well as Singapore has led to stagnated global supply.

May 21 - VLCCs booked to store fuel oil off Singapore amid renewed lockdowns in Asia: sources


May 21 - Singapore-delivered Marine Fuel 0.5%S differential flips to record discount as traders lower offers
The flip to discount from a premium of $8.49/mt the day before was spurred by traders lowering offers May 20 due to a further drop in inquiries amid already weak demand, market sources said.

May 20 - Shipping's VLSFO is the only transport fuel set to grow until 2026 - IEA


May 20 - Rotterdam low sulfur bunker fuel gap widens as markets diverge


May 20 - 0.5%/3.5% fuel oil spread could spike in H2 boosting scrubber appeal - industry experts


May 20 - June-arrival LSFO arbitrage cargoes in Singapore to see increase from May level - traders
Singapore's low sulfur bunker suppliers said that sales thus far in May have been lackluster, under pressure from competitive prices at Zhoushan in China.

May 20 - Argentine port workers extend strike, halting grains exports (Reuters) 

Argentina's grains exports were paralyzed on Wednesday after port workers launched a strike over what they described as a lack of COVID-19 vaccinations among members, the head of the Port and Maritime Activities chamber told Reuters by telephone. In a statement, the port worker unions said the strike would run until late on Friday. Earlier the labor groups said they would end the work stoppage on Thursday, but they extended the strike due to what they called government inaction over their demands.

May 20 - China's April soybean imports from Brazil surge vs previous month  (Reuters)

China's soybean imports from Brazil surged in April from the previous month, customs data showed on Thursday, boosted by the arrival of cargoes that were ordered earlier in the year but delayed after rain hit the Brazilian crop. The world's top importer of soybeans brought in 5.08 million tonnes of the oilseed from leading supplier Brazil in April, sharply up from only 315,334 tonnes in March, data from the General Administration of Customs showed.

May 19 - Norway's Frontline snaps up six VLCCs under construction for $565.8 million
Frontline said five vessels will be delivered during the first quarter of 2022 while the last one in Q1 2023.

May 19 - Monjasa sees energy transition accelerating bunker credit challenges


May 19 - Japan March bonded bunker fuel oil exports rise 7% on year to 3.2 mil barrels

 

May 19 - Argentina sells 18.5 mln tonnes of 2020/21 soy, lagging 2019/20 sales rhythm (Reuters) 

Argentine growers have sold 18.5 million tonnes of soybeans from the current 2020/21 season, after clinching deals for 1.2 million tonnes over the last week alone, the Agriculture Ministry said in a report on Tuesday. The data in the report was updated through May 12. 

May 19 - Brazil private ports move 11% more cargo in Q1, driven by commodities trade ( ATP lobby ) 

Brazil's private port terminals moved some 185 million tonnes of cargo in the first quarter, an 11% annual increase driven mainly by trade in mineral and agricultural commodities, data compiled by private port lobby group ATP showed on Tuesday. Movement of wood products and other pulp byproducts including paper rose the most among all cargos, by 26.5%.

May 18 - World needs no new oil, gas projects under path to net-zero emissions by 2050: IEA


May 18 - Ammonia to power 45% of shipping in 2050 net-zero scenario: IEA
Short-term ammonia costs could be quadruple current 0.5%S FO price

May 18 - Hydrogen unlikely to be main fuel as energy density low: Platts Analytics.

May 18 - Asia-to-Europe container rates hit fresh all-time highs on delays


May 18 - Singapore HSFO cash differential at 10-month low on ample supply, steady demand
The differential reflected the supply situation as traders struggle to find an outlet for the fuel oil.

May 18 - EU 2020/21 soybean imports at 13.17 mln T by May 16, rapeseed 5.80 mln T - European Commission 

European Union soybean imports in the 2020/21 season that started last July had reached 13.17 million tonnes by May 16, data published by the European Commission showed on Monday. That compared with 13.10 million tonnes cleared by the same week last season, the data showed.

May 18 - Russian wheat export prices steady as stronger rouble helps - IKAR 

Russian wheat export prices for the old crop were mostly stable last week, supported by a stronger rouble and lower wheat prices in Chicago and Paris, analysts said on Monday. Russian wheat with 12.5% protein loading from Black Sea ports for supply in June was at $278 a tonne free on board (FOB) at the end of last week, unchanged from the previous week, the IKAR agriculture consultancy said.