Freight & Bunkers News

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Oct 20 - Shipping industry faces ESG heat from lenders  

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

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

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

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

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

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

Oct 19  - FBX Weekly Overview (Freightos)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Oct 15  - Bunker prices rise amid tightness, firming crude

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Oct 14  - FBX Weekly Overview (Freightos)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Oct 06 - FBX Overview (Freightos)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Sep 30 - FBX Overview (Freightos)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Sep 22 - FBX Overview (Freightos)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Sep 14 - FBX Overview (Freightos)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Sep 13 - Brazilian truckers' Bolsonaro sympathy strike fizzles out 

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

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

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

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

Sep 09 - FBX Overview (Freightos)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Sep 07 - Shipping bodies launch fresh proposals to curb emissions

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Aug 31 - FBX Overview (freightos)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Aug 25 - FBX Overview (Freightos) 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Aug 19 - FBX Overview (Freightos)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

- Lockdowns, delays in Vietnam may exacerbate problems

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

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

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

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

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

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

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

Aug 13 - FBX Overview

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

- Slowdown may be due to India monsoon

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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


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

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

Aug 05 - FBX Overview (Freightos)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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 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:
- 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:
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:
- 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.

VLCC market to stay supported amid coronavirus outbreak: International Seaways

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

INTERVIEW: Mercuria subsidiary Minerva Bunkering starts operations at Fujairah

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Weak European refining margins prompt run cuts, crude values slide

In Full »

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

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