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Russia may not meet 2022 grain harvest target, ministry says

Russia may not reach its expected harvest of 130 million tonnes of grain due to weather factors and a lack of spare parts for foreign equipment, the agriculture ministry said on Friday. “Taken together, all of this creates risks in terms of reaching the grain harvest figure of 130 million tonnes,” the ministry said. It said that if it does not meet the planned volumes, it will have to revise its export plans of 50 million tonnes. Russian President Vladimir Putin had said in May that he expected the country ...

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Ukraine has harvested 17.5 mln t of grain so far, traders and ministry say

Ukrainian farmers have threshed 17.5 million tonnes of the 2022 grain harvest so far with the average yield of 3.64 tonnes per hectare, Ukrainian grain traders union UGA and the agriculture ministry said on Friday. The union’s statement said the volume included 12.6 million tonnes of wheat with an average yield of 3.6 tonnes per hectare and 4.4 million tonnes of barley with a yield of 3.38 tonnes per hectare. The UGA said that farmers also harvested 2.5 million tonnes of rapeseed with a yield of 2.68 tonnes per hectare. ...

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CLARKSONS PLATOU HELLAS – SnP WEEKLY BULLETIN

In Containers this week, it was reported that CMA CGM ordered six firm 15,000TEU containerships at CSSC Dalian Shipbuilding (DSIC)

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OPEC Sec Gen says we should tread a fine line as not to consume all oil reserves

The Organization of Petroleum Exporting Countries (OPEC) should tread a fine line as not to consume all oil reserves, the Organization’s Secretary General Haitham al-Ghais told Al-arabiya TV on Thursday. Al-Ghais also commented on OPEC’s decision on Wednesday to only increase production by 100,000 barrels per day by saying: “we aim to test market reaction”. The secretary general also said the organization was not in a competition with Russia saying: “the market has room for all”, ading even with the discounts we heard Russia is giving to Asia. Source: Reuters ...

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U.S. natgas futures ease 1% on record output, less hot forecasts

U.S. natural gas futures eased about 1% on Friday, with output holding near record highs and forecasts for less hot weather and lower demand over the next two weeks than previously expected. Also weighing on prices was the ongoing outage at the Freeport liquefied natural gas (LNG) export plant in Texas, which has left more gas in the United States for utilities to rebuild extremely low stockpiles for next winter. That price decline came despite forecasts for the weather to remain hotter than normal through at least mid August, prompting ...

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Seasure Market Report 05 August 2022

2nd Hand SALES DRY – VV Mean % Difference -6.8% =Nautical Anne= Ultra 63600 Jiangsu New Hantong 2016 –  USD 31.0 VV 29.8 – Long subs =Eships Progress= Supra 56900 COSCO Guangdong 2012 –  USD 18.0 VV 18.1 – SS/DD Due =Jia Hui Shan= Supra 56600 COSCO HI Yangzhou 2011 –  USD 17.8 VV 17.0 =Sophia K= Supra 55600 Mitsui 2011 – Middle Eastern USD 22.9 VV 22.3 =Denali= Supra 53800 Jiangsu Eastern 2009 –  USD 16.0 VV 13.9 2nd Hand SALES Wet – VV Mean % Difference -0.6% =Tinat= ...

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HOT PORT NEWS from GAC

Marine Aids to Navigation Dues 05 Aug 2022, India Marine Aids to Navigation Dues will replace Indian Light House dues from 27 August. Read more » Withdrawal of a physical floating barrier 05 Aug 2022, Hong Kong The physical floating barrier along the Northwestern Boundary of the Hong Kong International Airport Approach Area No.3 has been withdrawn. Read more » Restriction on vessels in Eastern Anchorages and off Marina Barrage 05 Aug 2022, Singapore Vessels are restricted from transiting, anchoring or remaining in the demarcated area at the Eastern Anchorages ...

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Baltic index extends fall as capesizes sink to over 3-month low

The Baltic Exchange’s main sea freight index dipped for a ninth straight session on Thursday, led by tumbling capesize rates as demand for all vessel segments fell. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 128 points, or 7.4%, to 1,603 points, marking its worst day since May 27. The capesize index dropped 310 points, or 17.3%, to its lowest level since April 20, at 1,480 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, ...

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LNG Becoming the Most Important Shipping Market of 2022

The LNG tanker market is expected to ride the existing “wave” of increased demand throughout the second half of the year. In its latest weekly report, shipbroker Intermodal said that “amid Europe’s effort to cut its dependence on Russian gas, LNG has currently become the most geopolitically important fuel. As of July 27th, Gazprom shipments on the Nord Stream pipeline flow to 20% of its capacity, plummeting to 33cbm. TTF Forward 1 Month price has been rallying, following Gazprom’s announcement, to reach €208.5/MWh on August 2nd, +126% m-o-m, +493% y-o-y. ...

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Trade deficit may come off peak in August but will still remain high

Having hit a record $31 billion in July, India’s trade deficit may narrow a tad in August, as the windfall tax on exports of certain petroleum products has been cut and the government directive on mandatory coal imports by power generators (gencos) has been relaxed, official sources and analysts told FE. So, while petroleum exports may reverse a drop witnessed in July and record growth in August, the persistent surge in coal imports may lose some steam. On top of that, any reduction in the elevated export duties on select ...

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Central Europe’s currencies to see scant gains in the next year

Hungary’s forint will stay on the back foot in the coming months before returning to steady gains, but the space for it and other central European currencies to firm in the next year remains tight, a Reuters poll showed on Thursday. Investors have put central European currencies under pressure in recent months with economic and energy worries building as inflation bites and war in Ukraine continues to affect power markets. The U.S. dollar is also stronger as the Federal Reserve lifts interest rates, dampening demand for riskier assets. The forint ...

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FBX Index: The long slide downwards is in motion

July, which usually marks the peak season getting into full swing, continues to see declining spot rates. As an example, the global FBX weekly index declined 7% during July and is down 37% compared to the peak associated with Chinese New Year. Whilst such declines in rates might at first glance give the impression that rates levels are rapidly approaching pre-pandemic normality, this is not the case. The level at the end of July 2022 is still 350% higher than at the same time in 2019 before the pandemic. Of ...

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Bureau Veritas delivers Approval in Principle to HELION fuel cell system, FC-Rack™

This Approval in Principle (AiP) is the result of a close collaboration between HELION and Bureau Veritas, aiming at deploying the safe use of hydrogen as an energy vector for propulsion and shore-to-ship power supply. A new generation of marine fuel cells The work carried out has enabled the Alstom subsidiary’s 6th generation of hydrogen fuel cells to comply with Bureau Veritas rules that correspond to the use of fuel cells on board ships. The fuel cell “marinization” is ensured thanks to a double envelope enclosure that enables the system ...

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EU retail sales volumes fall 1.3%, indicating further weakening of container imports

Retail sale is a key driver of European container imports. In early 2020 and early 2021 retail sales volumes in the EU and the UK suffered setbacks due to COVID restrictions, but recently, high inflation and historically low consumer confidence have been the main concerns. In June 2022, EU retail sales volumes fell 1.3% compared to May, and were 2.8% lower than peak sales achieved in November 2021 but remained 5.9% higher than average pre-COVID volumes in 2019. In the UK, retail sales volumes have meanwhile been on a steady ...

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U.S. Crude Could Break $90 as OPEC, Weekly Stocks and Dollar Weigh

U.S. crude’s long-held support of $90 may be the next to crack. The front-month for U.S. West Texas Intermediate, or WTI, crude hit a six-month bottom, or its lowest since Feb. 24, as it fell to $90.83 a barrel on Wednesday. With just three days into August, the U.S. crude benchmark is already down 8%, more than the back-to-back loss of 7% for all of July and June. “There’s a consensus building on the market that WTI’s $90 support could snap in the coming days and that $100-$105 could be ...

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