Home / Commodities / Freight News (page 3)

Freight News

China Winter Gas Binge Pushes It Toward No. 2 LNG Buyer Spot

China is ahead of schedule on its way to becoming the second-largest importer of liquefied natural gas. The nation, already the world’s top energy user, is on the verge of passing South Korea to become the No. 2 buyer of LNG behind Japan, as environmental measures and winter heating needs boost demand. Tankers with total capacity of 33.6 million metric tons have visited China this year, just 1.7 million below South Korea’s total, according to vessel-tracking data compiled by Bloomberg. The gap was more than 24 million tons in 2011. ...

Read More »

U.S. liquefied natural gas exports have increased as new facilities come online

In August 2017, total U.S. natural gas liquefaction capacity in the Lower 48 states increased to 2.8 billion cubic feet per day (Bcf/d) following the completion of the fourth liquefaction unit at the Sabine Pass liquefied natural gas (LNG) terminal in Louisiana. With increasing liquefaction capacity and utilization, U.S. LNG exports averaged 1.9 Bcf/d, and capacity utilization averaged 80% this year, based on data through November. Sabine Pass, located on the U.S. Gulf Coast near the Louisiana-Texas border, consists of four existing natural gas liquefaction units, or trains, with a ...

Read More »

Iraq and Iran negotiating start date for Kirkuk oil exports: Luaibi

The head of Iraq’s state oil marketer SOMO is currently holding talks in Iran to determine a start date for oil exports from Iraq’s Kirkuk oilfields, Iraqi Oil Minister Jabar al-Luaibi said on Wednesday. An oil official told Reuters last week that some Kirkuk crude would be shipped “in the near future” by trucks to Iran’s Kermanshah refinery, at a rate of 30,000 barrels per day. Source: Reuters (Reporting by Ahmed Rasheed; Writing by Ahmed Aboulenein; Editing by Maher Chmaytelli)

Read More »

Crimea exported 600,000 T of grain to India, Saudi Arabia, Syria

Crimea has exported 600,000 tonnes of grain to India, Saudi Arabia and Syria after a large crop this year, regional agriculture minister Andrey Ryumshin said on Tuesday, TASS news agency reported. Russia, a major global wheat exporter, annexed Crimea from Ukraine in 2014. Since then the region has found it difficult to export the bulk of its grain due to legal risks, however some supplies from Crimea were still continuing. It was not clear what time period Ryumshin was referring to as he spoke to a regional parliament meeting. “The ...

Read More »

South Korean refiners conclude 2018 gasoil, jet fuel term contracts

South Korean refiners Hyundai Oilbank and GS Caltex have concluded their 2018 term contracts to sell gasoil and jet fuel, traders said on Thursday. Hyundai finalised its 10ppm sulphur gasoil contracts at a discount of 10 to 20 cents a barrel to Singapore 10ppm sulphur gasoil quotes, they said. GS Caltex finalised its 500ppm sulphur gasoil for next year at a discount of 60 cents a barrel to Singapore 10ppm sulphur gasoil quotes and its jet fuel at a discount of 15 cents a barrel to Singapore quotes, they added. ...

Read More »

Azerbaijan’s Jan-Nov refined oil product exports fall 34 pct

Azerbaijan’s exports of refined oil products fell 33.6 percent in January-November from a year earlier to 739,615 tonnes, state energy company SOCAR said on Thursday. The decline was in part due to higher domestic consumption. In 2016, Azerbaijan exported 1.13 million tonnes of oil products, down from 1.50 million in 2015 as exports of fuel oil, jet fuel and diesel fell. Following is Azeri refined products export data for January-November 2017 (in tonnes): Jan-Nov 2017 Jan-Nov 2016 Diesel 502,068 676,171 Jet fuel 43,969 174,075 High 65,784 68,622 pressure polyethylene Propylene ...

Read More »

Australia’s Gladstone LNG plant sells January cargo to PetroChina -trade

Australia’s Gladstone LNG export project sells cargo loading on Jan. 13-14 to PetroChina -trade sources. Estimated price of deal $9.50-$9.55 million British thermal units (mmBtu) on a free on board basis -trade sources. The total price, including shipping costs, might exceed $10 per mmBtu, said one market source. Source: Reuters (Reporting by Oleg Vukmanovic; editing by Jason Neely)

Read More »

Poland’s Lotos buys another crude oil shipment from U.S.

Poland’s second-largest oil refiner Grupa Lotos has bought a second crude oil shipment from the United States as part of a plan to reduce its reliance on Russian oil supplies, it said. The state-run refiner said it is waiting on a tanker carrying 650,000 barrels of oil, equivalent to around 80,000 tonnes, which has already departed from Freeport in Texas. Source: Reuters (Reporting by Agnieszka Barteczko, editing by Louise Heavens)

Read More »

UAE looks to increase US LNG imports

Energy heads from the UAE and United States discussed further collaboration, including the possibility of liquefied natural gas imports from the North American country. The UAE energy minister and 2018 Opec president, Suhail Al Mazrouei, met with Rick Perry, the US energy secretary, on Tuesday to “move forward joint cooperative efforts”. “The two ministers noted that the growing US LNG exports could provide an option for an additional source of gas supply to the region,” the UAE energy ministry said in a statement. This comes after Mr Perry’s visit to ...

Read More »

Pakistan State Oil suspends fuel oil imports on LNG push

Pakistan State Oil (PSO) has suspended imports of fuel oil after an abrupt drop in domestic demand as the country turns to liquefied natural gas (LNG) to fuel its power sector, two company officials told Reuters on Wednesday. It is not clear how long the suspension will last but the country’s state-owned oil importer is expected to drastically cut fuel oil imports, one of the sources said, speaking on condition of anonymity as he was not authorised to speak with media. “It’s difficult to see demand (for fuel oil) recovering ...

Read More »

Wooden dams and river jams: U.S. strains to ship record grains

America’s worst traffic jam this fall occurred on the Ohio River, where a line of about 50 miles of boats hauling grains and other products turned into a waterborne parking lot, as ship captains waited for the river to reopen. Such delays are worsening on the nation’s waterways, which are critical to commerce for the United States, the largest grain exporter in the world. Of the country’s $40 billion in annual grain and soybean exports, about 60 percent is moved by barges on rivers, including the Ohio. The shutdown, caused ...

Read More »

Exxon Jumping in to Mexico’s Fuel Market With First U.S. Cargo

Exxon Mobil Corp. is joining Chevron Corp. and other U.S. refiners to supply the newly free Mexico fuel market. Exxon said on Wednesday it will import fuel from its U.S. refineries into Mexico’s central state of Guanajuato by rail, making it one of the first private gas station operators to sell fuel to the nation without buying it from Pemex. After years of preparation, last week Mexico finished liberalizing prices for gasoline and diesel across the country. An increasing number of foreign firms plan to invest in ports terminals, fuel ...

Read More »

Indian refiners turn to use dirty fuel to produce power, gas

Indian oil refiners are drawing up plans to use petroleum coke for power generation and to produce syngas after the government banned use of the heavily polluting fuel in and around New Delhi. The country’s top refiner Indian Oil Corp (IOC) and other refiners have invested billions of dollars in recent years to install delayed coker units to produce high-valued added products such as gasoline and liquefied petroleum gas. The units produce petcoke as a byproduct, equivalent to 25-30 percent of a unit’s capacity, which refiners sell to local industries. ...

Read More »

Limited Mexico Isthmus crude exports may bring Asia back to Mideast

A potential decline in Mexico’s exports of Isthmus crude grade in 2018 has raised alarm bells among various Northeast Asian refiners as the companies may have to shift their focus back to the Middle East for bulk of their medium sour crude oil requirements, putting the brakes on their feedstock diversification efforts. Asian refiners expect Mexico’s Isthmus crude exports to fall in 2018 Asian refiners may shift focus back to medium sour Mideast crude Russian Urals seen as alternative, but wide Brent/Dubai eyed Crude trading and procurement managers at two ...

Read More »

Iraq and Iran negotiating start date for Kirkuk oil exports -Luaibi

The head of Iraq’s state oil marketer SOMO is currently holding talks in Iran to determine a start date for oil exports from Iraq’s Kirkuk oilfields, Iraqi Oil Minister Jabar al-Luaibi said on Wednesday. An oil official told Reuters last week that some Kirkuk crude would be shipped “in the near future” by trucks to Iran’s Kermanshah refinery, at a rate of 30,000 barrels per day. Source: Reuters (Reporting by Ahmed Rasheed; Writing by Ahmed Aboulenein; Editing by Maher Chmaytelli)

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping