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On 17th July 2023, Hutchison Ports Jazan and the traders in the Saudi Arabia southern region welcomed the first commercial container vessel MV. Kota Rahmat at new container terminal of JCPDI Port, Jazan, Saudi Arabia, as part of a special arrangement between Pacific International Lines (PIL), owner of Kota Rahmat, and Hutchison Ports Jazan. Kota Rahmat serves PIL’s Intra Red Sea Feeder service, which connects ports in the Red Sea region including Jeddah Port, Port Sudan, Djibouti Port, Hodeidah Port and Aden Port in Yemen. With the patronage of Royal ...

DCE iron ore futures declined by 0.12 % today, the main contract closed at 846.5.

Russia is not preparing to attack civilian ships in the Black Sea despite assertions by the United States, Russia’s ambassador to Washington said, in comments posted by his embassy. On Wednesday, Moscow said it would deem all ships travelling to Ukrainian ports to be potential carriers of military cargo and their flag countries to be parties to the conflict on the Ukrainian side, after Russia quit a year-old deal to give ships exporting Ukrainian grain safe passage despite the war. Commenting on the decision, the White House said Russia could ...

Russia has lifted restrictions on cargo vessels moving through the Kerch Strait between the Azov and Black seas, the head of the Russia-focused Sovecon consultancy told Reuterson Thursday. “The vessels started sailing today, but they say navigation will be closed at night-time, probably,” Andrey Sizov said. The movement of cargo vessels through the Kerch Strait was suspended by Russian authorities on July 16 following drone attacks on the Crimean port of Sevastopol. The Kerch Strait is the route for around a third of Russia’s grain exports. According to Refinitiv Eikon’s ...

Argentina state-owned energy company Enarsa has called off the unloading of a cargo of liquefied natural gas from Geneva-based Gunvor after discovering it contained Russian supplies, a company source said July 19. The decision was made by Enarsa President and Argentina Economy Minister Sergio Massa because of the international sanctions against Russia for its war on Ukraine. The source, who requested anonymity, explained that the cargo was due to be unloaded by the Flex Artemis tanker at a floating regasification and storage unit in Bahía Blanca, a port in southern ...

Residual fuel oil stocks at key trading hub Singapore eased for a second straight week, while net imports nearly halved, official data showed on Thursday. Onshore fuel oil stocks fell 3% to 17.81 million barrels (2.80 million metric tons) in the week to July 19, data from Enterprise Singapore showed. Weekly net imports, calculated by subtracting total exports from total imports, nearly halved week-on-week at 563,000 metric tons. Kuwait was the top origin of Singapore’s fuel oil imports in the week, with net import volumes at 144,000 metric tons. The ...

Braemar Plc (LSE: BMS), a leading international shipbroker and provider of expert investment, chartering, and risk management advice to the shipping and energy markets, is pleased to announce the addition of live derivatives pricing across European and Singaporean fuel oil and gasoil markets on Braemar Screen. Bunkers are typically a ship’s largest variable cost and reducing price exposure via swaps is one of the most effective ways to provide certainty of voyage costs. This development will enable traders to make more informed decisions based on real-time market data, and to ...

Entrusted by the transferor (the Sellers), we have scheduled to hold a public bidding online without a reserved price at 10:00 (Beijing Time) on August 18th, 2023. 1.Bidding Object: Name: Ming Zhou 58, Bulk Carrier; PoR: Ningbo, China; Class: Domestic CCS; Trading Area: Offshore A1+A2; LOA: 216.00m; MLB: 31.80m; MLD: 16.95m; GRT/NRT: 31638/17717; Light Displacement: 13400t; DWCC: 52600t @ 12.30m draft; M/E: 8L60MC, 9500kW x 1 set; Built: September 14th, 1990; Builder: NIKOLAEV SHIPYARD; (Data and relevant information provided in this announcement are for reference only) 2.The starting price is ...

The Canadian government is relieved that dock workers in the Pacific province of British Columbia have lifted their strike notice, Transport Minister Omar Alghabra said on Thursday. Alghabra told reporters in Montreal that he hoped the union and employers could find a lasting end to the dispute. Source: Reuters (Reporting by David Ljunggren and Ismail Shakil; editing by Jonathan Oatis)

The International Maritime Organization’s (IMO) recent deliberations at the MEPC80 highlighted both the opportunities and challenges confronting the shipping industry as it charts a course towards decarbonization. While the commitments made are a positive step, they fall short of the urgent action needed to effectively mitigate climate change. Many industry stakeholders are calling for stronger, faster action to exceed the IMO’s baseline commitments, with ports and technological innovation emerging as key drivers in achieving this. The IMO’s revised greenhouse gas (GHG) strategy, agreed upon at MEPC80, has set the goal ...

The volume of cargo transshipment at the Aktau port in Kazakhstan grew by 23% to over two million tons this year. Located on the northeastern shore of the Caspian Sea, the Aktau port, with three dry cargo and three oil terminals, holds utmost international importance in the system of distant cargo transportation. With a total throughput capacity of nearly 12 million tons, the Aktau port mainly exports grain and petroleum products. Kairat Kaliolla, chief manager of the logistics department of the Aktau Commercial Sea Port, said: “Oil is exported from ...

The United States is on track in July to take in higher imports of crude oil from Mexico for a second month, as global demand for sour crudes ramps up following production cuts from OPEC+ that have cut off a pivotal source. Prices for sour barrels climbed this month after Saudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries (OPEC), deepened its output cuts to 1 million barrels per day. Mexico now finds grades such as its heavy Maya sour in high demand, and the ...

China’s soybean imports from Brazil jumped 31.6% in June from a year earlier, data showed on Thursday, after large cargoes of cheap beans reached Chinese ports. The world’s top buyer of soybeans imported 9.53 million metric tons of the oilseed from Brazil, its largest supplier, versus 7.24 million tons a year earlier, data from the General Administration of Customs showed. Chinese buyers took advantage of this year’s huge Brazilian soy crop and attractive prices to ramp up purchases this year. Total arrivals last month reached 10.27 million metric tons, and ...

China’s June fuel oil imports hit the highest level for a month so far in 2023, buoyed by firm purchases of Russian oil, data from the General Administration of Customs showed. Total fuel oil imports in June were at 2.70 million metric tons, up 5% from May and more than triple from June 2022. The monthly imports were also at a decade-high again, after easing slightly in May, the data showed. China’s independent refiners have boosted purchases of fuel oil to be used as a refinery feedstock this year, particularly ...

China has called for Chinese farmers to grow more grain and to receive a guaranteed income, after the expiry earlier this week of the Black Sea grain deal that allowed safe export of Ukraine’s grain and supported food security. According to broadcaster CCTV, which cited the Central Financial and Economic Affairs Commission chaired by president Xi Jinping on Thursday, lawmakers said it was necessary to use China’s saline-alkali land to its full potential and expand agricultural production capacity. China will safeguard its current red line of 1.8 billion mu (120 ...