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China becomes world’s second largest LNG importer, behind Japan

China surpassed South Korea to become the world’s second-largest importer of liquefied natural gas (LNG) in 2017, according to data from IHS Markit and official Chinese government statistics. Chinese imports of LNG averaged 5 billion cubic feet per day (Bcf/d) in 2017, exceeded only by Japanese imports of 11 Bcf/d. Imports of LNG by China, driven by government policies designed to reduce air pollution, increased by 1.6 Bcf/d (46%) in 2017, with monthly imports reaching 7.8 Bcf/d in December. China’s imports of natural gas have grown to meet increasing domestic ...

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China LNG imports hit record in Jan ahead of cold snap

China’s imports of liquefied natural gas (LNG) hit record levels in January, as the world’s most populous nation rushed to shore up supplies ahead of another cold snap and this month’s Lunar New Year celebrations, while fuel exports also jumped. LNG imports totalled 5.18 million tonnes, compared with the previous record of 5.03 million tonnes set in December and up 51.2 percent from January, 2017, according to data on Friday from China’s General Administration of Customs. Purchases spiked to cover a surge in demand under Beijing’s push to replace coal ...

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Jet to move from Saudi Arabia to Australia in unique move

Jet fuel will move from Saudi Arabia to Australia in an extraordinary move, according to data from S&P Global Platts trade flow software cFlow. The Lady Henrietta is set to load 75,000 mt of jet fuel in Jubail, Saudi Arabia, departing on February 25 for discharge in Australia, chartered by AMPOL, according to cFlow. The move is unique, as Australia typically buys spot cargoes from Singapore or South Korea. With Asian jet sources musing this could be the first time AMPOL has bought from a Middle Eastern refiner. “No other ...

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Iran to export wheat to Indonesia

Iran plans to export surplus wheat to Indonesia, the Islamic Republic’s commercial attache to Indonesia, Anvar Kamari, said. The PR department of the Trade Promotion Organization of Iran(TPOI) quoted Karami as saying that Indonesia is estimated to become the world’s biggest wheat importer in 2018, importing 12.5 million tons of the staple agricultural product. The South eastern Asian country can be considered as main destination of Iran’s wheat exports, given the fact that the Islamic Republic plans to increase its wheat output, Kamari said. Iran saw a considerable surge in ...

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British Columbia edges back from ban on increased oil shipments

British Columbia on Thursday edged back from its pledge to block increased shipments of crude oil through the Pacific Coast province, saying it is now pursuing legal advice on whether it has jurisdiction to impose the temporary ban. The province sparked a trade war with neighboring Alberta last month, when it announced numerous new environmental rules, including plans to bar any increase in heavy oil shipments while a panel studied the impact of heavy oil spills. “We believe it is our right to take appropriate measures to protect our environment, ...

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India May Export More Sugar Than Forecast on Higher Yields

India may export more sugar than previously forecast as higher yields boost supply in the world’s top consumer. Shipments may total 1.5 million metric tons in the next six to eight months, said Abinash Verma, director general of the Indian Sugar Mills Association. Last month, he said millers were asking the government to abolish a 20 percent export duty so they could attempt to ship about 1 million tons in the year started Oct. 1. India exported 1.66 million tons of sugar in 2015-16 and about 46,000 tons in 2016-17, ...

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US hikes duties further on Argentine, Indonesian biodiesel imports

The US Department of Commerce announced the imposition of further anti-dumping duties on biodiesel imports from Argentina and Indonesia, from last year’s provisional levels. This is based on the finding that exporters from Argentina have sold biodiesel in the US at 60.44-86.41% less than fair value, while the equivalent dumping range for Indonesian exporters was found even larger at 92.52-276.65%. This came as confirmation of the preliminary finding in October but the final determination increased the ranges of dumping margins. The DOC said it would instruct US Customs and Border ...

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South Asia dominates Ukrainian wheat exports so far 2017/18

The countries of Southeast Asia have become the major buyers of Ukrainian wheat in the first seven months of the current season, importing around a third of the total volume, UkrAgroConsult said. Indonesia, Philippines, Singapore and Malaysia took larger supplies, the consultancy said. “This region absorbed more than 29 percent of Ukrainian wheat exports in July-January 2017/18 or 3.53 million tonnes,” it said in a statement. African states accounted for 26 percent or 3.15 million tonnes, UkrAgroConsult said. Those exports went mostly to Egypt, Tunisia, Mauritania, South Africa, Nigeria and ...

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Turkish buyers seek out more Russian corn on barley price surge

Demand for Russian corn in Turkey has increased substantially as buyers seek an alternative to the ballooning price of barley. Barley prices have risen steadily since the end of December when Turkish authorities removed a 35% tariff on barley imports. The removal of the tariff caused barley demand to rocket as cattle feeders opted for barley instead of corn on barley’s higher protein content. Prices have jumped around $35 since December to $180/mt in February. Bids for FOB-Azov balance-front month 3,000 mt cargoes have been heard around $178/mt with freight ...

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Train shortage, power demand to drive resurgence in India’s coal imports

Caught between logistical bottlenecks and surging demand from power plants, India will likely increase coal imports in 2018, industry executives said, in what would be a setback to the government’s plans to cut the country’s dependence on foreign supplies. The projected higher coal demand, which would reverse two years of declines, will be a boon for international miners such as Indonesia’s Adaro Energy, Australia’s Whitehaven Coal or global commodity merchant Glencore. But, the country’s power plants and cement makers, the source of the resurgent demand, will end up eating the ...

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Malaysia Petronas gets its first term LNG supply deal with India

Malaysia’s Petronas has signed its first term LNG contract for supplies to India, the company said in a statement Thursday. Under the sales and purchase agreement signed January 24, Petronas has agreed to supply an undisclosed volume of LNG to Dubai-based H-Energy Mideast DMCC, or HEMD. “[The agreement is] in line with Petronas’ growth strategy to expand its LNG supply and help meet rising demand for clean and reliable energy in the fourth-fastest-growing economy in the world,” Petronas LNG CEO and Managing Director Ezhar Yazid Jaafar said. H-Energy January 30 ...

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Russia supplies 7.6 mln tonnes of LNG to Japan in 2017

Russia supplied 7.6 mln tonnes of liquefied natural gas (LNG) to Japan in 2017, Russian Energy Minister Alexander Novak said on Thursday. He is taking part in the second meeting of the high-level Russian-Japanese working group. “By the end of 2017, we delivered 7.6 million tonnes of liquefied natural gas to Japan, registering some growth of this indicator,” he said. Japan is the world’s largest buyer of liquefied gas. Its main suppliers are Qatar, United Arab Emirates, Australia and Malaysia. Russia accounts for about 10% of this market. According to ...

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Asia-Pacific imports of high-protein wheat likely to drop as regional output grows

The Asia-Pacific is this year likely to import less of the high-protein wheat used to churn out food such as noodles and pizza as growers in the region ramp up output, traders said. Australia, the world’s No.4 wheat exporter, has harvested larger volumes of protein-rich hard wheat in the 2017/18 crop year, while the amount of land dedicated to growing wheat in China is expected to be the biggest in five years, with traders saying high-quality grain will make up an increasing chunk of that. Tempered Asian appetite for imports ...

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U.S. Oil Boom Tempts Saudis to Consider American Crude Sale

Even Saudi Arabia wants in on the U.S. oil boom. The kingdom’s state oil firm considered the possibility of sending American crude to Asia in February via a U.S. unit before determining it wasn’t economically viable, according to a person with knowledge of the matter. It also asked potential buyers in Asia if they would be interested in U.S. supply, according to officials at two regional refiners. The people asked not to be identified because the information is confidential. The fact that the Saudis decided against moving a cargo to ...

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China’s scrap steel exports soar in 2017

China’s scrap steel exports soared in 2017 as domestic demand was dampened, according to data from an industry association. The country exported 2.2 million tons of scrap steel last year, compared with just around 1,000 tons in 2016, according to the China Iron and Steel Association. The surge came despite a 40-percent tariff on scrap steel exports as millions of tons of such steel was kept out of the domestic market due to a ban on the production of ‘ditiaogang,’ or steel made from scrap metal. Most exports went to ...

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