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Taiwan tenders for estimated 104,150 T wheat of origin

The Taiwan Flour Millers’ Association has issued an international tender to purchase an estimated 104,150 metric tons of grade 1 milling wheat to be sourced from the United States, European traders said on Friday. The deadline for submission of price offers in the tender is also Friday, June 21. The tender seeks a range of different wheat types in two consignments for shipment from the U.S. Pacific Northwest coast. One consignment of 54,225 tons was sought for shipment between Aug. 25 and Sept. 8, they said. A second consignment of ...

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South Korea’s FLC buys about 66,000 T corn, traders say

South Korea’s Feed Leaders Committee (FLC) purchased about 66,000 metric tons of corn expected to be sourced from South America or South Africa in a deal on Wednesday, European traders said. The corn was purchased at an estimated $242.99 a ton cost and freight (c&f) included for arrival around Oct. 25 plus a $1.25 a ton surcharge for additional port unloading, they said. Seller was said to be trading house ADM. Reports reflect assessments from traders and further estimates of prices and volumes are still possible later. Source: Reuters (Reporting ...

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Gibson tanker report – Cleaning Up

LRs have seen extreme volatility this year, with spot earnings looking very much like a roller coaster ride.

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Cash is leaving China again, pressuring yuan

A sliding yuan and extensive outflows of cash from the mainland into Hong Kong show China’s domestic investors are shelving expectations for any immediate recovery in their home markets and fleeing to the closest better-yielding assets. The yuan has dropped to seven-month lows this week, alongside a reversal in equity investment flows into China. Analysts said Hong Kong’s stockpile of yuan deposits has also grown as mainland investors use their limited offshore investment channels to seek higher yields and companies prepare to pay annual dividends, adding to the pressure on ...

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India’s May oil imports: Russia at record high, Saudi lowest in 10-mth

India’s oil imports from Russia rose to a record of about 2.1 million barrels per day (bpd) in May as discounts for Russian oil widened on lower demand from China, according to trade sources and shipping data. That boosted Russia’s share in the world’s third largest importer and consumer to nearly 41% last month, the data showed. Meanwhile, supply from Saudi Arabia dropped to a 10-month low, the data showed, after Saudi Aramco hiked term prices for a second month in May. Refiners in India have been gorging on Russian ...

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Ukraine grain exports at 49.5 mln T so far in 2023/24

Ukraine’s grain exports as of June 21 in the 2023/24 July-June marketing season had risen to 49.5 million metric tons from 48.4 million a year earlier, agriculture ministry data showed on Friday. That included 2.6 million tons exported in June versus 3.1 million tons in the same period in 2023. Overall exports included 18.1 million tons of wheat, 28.4 million tons of corn and about 2.5 million tons of barley. The government said the country had harvested about 81 million tons of grain and oilseeds in 2023, with a 2023/24 ...

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Americas Fuel Availability Outlook

North America Bunker demand has slowed in Houston and several other locations along the US Gulf Coast due to adverse weather conditions caused by Tropical Storm Alberto. Since Wednesday morning, all vessel traffic through the Houston Ship Channel has been suspended. The storm has brought heavy rain and high winds to the region, impacting vessel navigation. Bunker barges can still operate in the northern part of the channel but are unable to head south. This is expected to delay bunker deliveries in Houston, Bolivar Roads, Freeport, Beaumont and Lake Charles. ...

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Hong Kong: Government proposes amendments to update regulations on merchant shipping safety to comply with international standards

The Government gazetted a proposal comprising the introduction of a new Merchant Shipping (Safety) (Ships Carrying Industrial Personnel) Regulation under the Merchant Shipping (Safety) Ordinance (Cap. 369) (the Safety Ordinance) and amendments to the Schedule to the Safety Ordinance to incorporate into local legislation the latest relevant requirements of the International Convention for the Safety of Life at Sea of the International Maritime Organization. The proposed amendments aim to provide safety standards for ships that carry industrial personnel and for the personnel themselves, and to address specific risks of maritime ...

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ARA fuel stocks fall on the week, Insights Global data shows

Refined oil products stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by nearly 4% in the week to Thursday, data from Dutch consultancy Insights Global showed. Total stock levels stood at 6.114 million metric tons, the data showed. The weekly drop was driven by a 9% tumble in gasoline inventories to 1.03 million tons. Gasoline exports out of ARA storage picked up on the week, according to Insights Global’s Lars van Wageningen, with rising shipments to the Americas recorded, in addition to flows for ...

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China, US push for green international shipping corridor

China and the United States are pushing for the green, low-carbon, and sustainable development of the international shipping industry. The China-US Green Shipping Corridor Working Conference, titled “Green Voyage, Future Dialogue,” was held in Shanghai on Wednesday and Thursday. The meeting aimed to implement the consensus reached by the presidents of China and the US in November 2023 on addressing the climate crisis together. Attendees discussed strengthening China-US cooperation in green shipping and promoting sustainable development in the international shipping industry. Representatives from the US State Department’s Office of Global ...

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India: Cabinet clears Rs 76,220-crore mega sea port on west coast

The Union Cabinet on Wednesday approved the development of a Rs 76,220-crore all-weather greenfield deep draft major port at Vadhavan in Maharashtra, which, on completion, will be among the top 10 ports of the world. The project will be implemented by a special purpose vehicle, Vadhavan Port Project, to be formed by the Jawaharlal Nehru Port Authority and the Maharashtra Maritime Board with a shareholding of 74% and 26%, respectively. The project will be located 130 km from Mumbai and 150 km from the Jawaharlal Nehru Port Trust, the country’s ...

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BW LPG Limited – Result of subsequent court hearing regarding the redomiciling to Singapore

Reference is made to the stock exchange announcement made by BW LPG Limited (“BW LPG” or the “Company”, OSE ticker code: “BWLPG.OL”, NYSE ticker code “BWLP”) on 13 June 2024 regarding the subsequent court hearing (the “Sanction Hearing“) at which the Company was to petition the Supreme Court of Bermuda (the “Court“) to sanction the scheme of arrangement (the “Scheme“) between the Company and its shareholders pursuant to Section 99 of the Bermuda Companies Act 1981 as amended in order to effect a discontinuance of the Company from Bermuda and ...

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Tugs: the powerhouses of the port

In the ‘Behind the Scenes’ series, we do precisely that and take a look behind the scenes of the companies in the port of Rotterdam. We get a unique look at the daily activities and processes of the various companies in Europe’s largest port. This time, we are going on board the tugs. Port tugs are responsible for assisting large sea-going vessels to safely enter and exit ports and with berthing and unberthing. This nautical service has a long history. In Rotterdam, the roots go back to 1842 when the ...

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Oil prices hold near 7-week high on signs of improving US demand

Crude oil prices held near a seven-week high on Friday as the market balanced signs of improving U.S. demand and falling oil and fuel inventories versus a stronger U.S. dollar. Brent futures rose 4 cents, or 0.1%, to $85.75 a barrel by 11:27 a.m. EDT (1527 GMT), while U.S. West Texas Intermediate (WTI) crude for August delivery remained unchanged at $81.29 from where it closed on Thursday. That put Brent on track for its highest close since April 30 for a second day in a row. WTI, meanwhile, closed at ...

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Fujairah fuel oil inventories drawn amid higher net exports

Fujairah’s residual fuel inventories have averaged 5% lower so far this month than across May, as per the latest data from the Fujairah Oil Industry Zone (FOIZ) and S&P Global. Changes in monthly average Fujairah stocks from May to June (so far): Heavy distillate and residual stocks down 484,000 bbls to 9.42 million bbls Middle distillate stocks down 136,000 bbls to 3.29 million bbls Fujairah’s heavy distillate and residual fuel oil inventories have declined below 10 million bbls, and are at their lowest monthly level since February. According to cargo ...

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