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India’s coal import declines about 4% to 19 million tonnes in July

India’s coal import declined by 3.7 per cent to 18.93 million tonnes (MT) in July this year from 19.67 MT in the same month a year ago. Of the total coal imports in July 2019, non-coking coal shipment was at 12.66 MT, coking coal’s was at 4.17 MT, among others, according to a provisional compilation by mjunction services based on monitoring of vessels’ positions and data received from shipping companies. “Against a modest increase in import in June, volumes during July dropped because of softer demand for power during monsoon ...

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Qatargas delivers first Q-Flex LNG cargo to Petrobangla

Qatargas Operating Company Limited (Qatargas) has delivered the first cargo of liquefied natural gas (LNG) on a Q-Flex vessel to the Floating Storage and Regasification Unit (FSRU) named ‘EXCELLENCE’ and known as Moheshkali LNG Terminal (MLNG), located offshore Bangladesh. The cargo, aboard Qatargas-chartered ‘Al Thumama’, was loaded at Ras Laffan on 4th September and delivered to MLNG on 20th September 2019. This is the first commercial open water ship-to-ship transfer involving a Q-Flex vessel. MLNG is a project jointly developed by Excelerate Energy and the Bangladesh Oil, Gas and Mineral ...

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China traders cut back Iran iron ore purchases ahead of tariff hike

China has taken fewer shipments of iron ore from Iran over August and September, according to Refinitiv Eikon data, as additional export tariffs due to be imposed by Tehran have dampened risk appetites in the world’s biggest steelmaker. Iran’s deputy minister of industries said earlier this month that exports of all steelmaking raw materials will be slapped with a 25% tariff to meet demand in domestic steel industry, according to Iranian state-backed media Press TV on Sept. 9. The tariffs, which will cover various products from Iran’s iron mills, including ...

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Saudi Aramco books European naphtha for Asia after attacks

Saudi Aramco has booked at least 120,000 tonnes of naphtha for September loading from Europe in a rare move as it seeks to plug a supply gap following attacks on its oil facilities on Saturday, industry sources said. Data from Refinitiv Oil Research shows Aramco chartered the vessel British Resolution to transport 80,000 tonnes of naphtha from Tuapse, Russia, on Sept. 17 followed by the STI Exceed to take 60,000 tonnes from Eleusis, Greece, on Sept. 24. These are the first European cargoes sent by Aramco to Asia since February, ...

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Turkish steel exports to EU to reach quota levels soon, sending shivers into Asian markets

More pressure mounted on Turkey’s steel export sector, with the EU’s steel quota against Turkish origin shipments currently standing at a balance of just 20,672 mt from the yearly 301,538 mt total that was given, figures from the European Commission showed. The validity of the quota currently stands for the period of July 1, 2019 to June 30, 2020, according to the EC. It is also expected to be retroactively reduced to 295,794 mt on October 1 by the EC, following a quota review process. Amid an already bearish steel ...

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German crude oil imports hit lowest level since 1992: data

The quantity of crude oil imported by Germany in 2018 declined by more than 5 million tons compared to 2017 and hit the lowest level since 1992, the Federal Statistical Office (Destatis) revealed. With 84.8 million tons, Germany’s crude oil imports in 2018 were far below the 30-year record set in 2005 with 114.5 million tons, according to Destatis. Russia was the most important oil supplier for Germany in 2018 with around 29.2 million tons, Destatis noted. In 2018, Germany received more than a third of its crude oil from ...

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Pakistan: Oil imports plummet by over 26pc to $1.93 billion

Pakistan’s oil imports have reduced by over 26 percent that helped to decrease the overall imports by a one-fifth in first couple of months of the current fiscal year. The country’s had spent $1.935 billion on importing oil in July and August period of the year 2019-2020 as compared to $2.642 billion in the corresponding period of the previous year, according to the trade figures released by the Pakistan Bureau of Statistics (PBS). The massive reduction in oil imports had helped in reducing overall imports of the country. Pakistan’s imports ...

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Japan’s Fuji Oil buys Nov-loading MidEast crude – sources

Japanese refiner Fuji Oil has bought this week three cargoes of Middle East crude for November loading at higher premiums than the previous month, trade sources said. It bought two cargoes of Banoco Arab Medium crude at premiums of about 50 cents a barrel to its official selling price (OSP) and one cargo of Upper Zakum crude at a premium of about 60 cents a barrel to its OSP, they said. Spot premiums for Middle East crude jumped this week following attacks on Saudi oil facilities on Saturday that cut ...

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Saudi switches crude grades, delays oil supplies to buyers in Asia

State oil giant Saudi Aramco has switched crude grades and pushed back crude and oil products deliveries to customers by days after the attacks on its supply hub severely reduced its light oil production and led to output cuts at its refineries. Crude oil loading delays were widespread as most buyers have received Aramco’s request to push back shipments in October by 7-10 days, several sources with knowledge of the matter said, giving the producer more time to maintain exports by adjusting supplies from inventories and its refineries. At least ...

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Analysis: Term LNG buyers face higher prices over Saudi oil disruptions

Any sustained increase in oil prices following the attacks on Saudi oil facilities over the weekend could amplify the pain for long-term LNG buyers with oil-linked contracts, already concerned by the significant premiums they have been paying over spot LNG, while on top of that marine insurance premiums look set to continue to rise on concerns of violent escalation in the region. The widening price differential between spot and contracted LNG supply is expected to result in a stronger pushback from buyers, with markets bracing for tough contract renegotiations and ...

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Tunisia buys about 42,000 T wheat, 50,000 T barley in tender

Tunisia’s state grains agency purchased around 42,000 tonnes of soft milling wheat and 50,000 tonnes of barley to be sourced from optional origins in an international tender which closed on Thursday, European traders said. Some 25,000 tonnes of wheat was bought at $210.68 a tonne c&f from trading house Casillo and 17,000 tonnes from Posco at $212.50 a tonne c&f, traders said. The barley was bought in two 25,000 tonne consignments at $197.17 a tonne c&f and $197.57 a tonne c&f. The barley was all sold by Glencore. The wheat ...

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Japan ships Khafji crude from reserves to Sinopec refineries in Shandong: sources

Japan has shipped a Khafji crude cargo from the Shibushi strategic petroleum reserves in Kagoshima to Sinopec refineries in China’s Shandong province, sources with direct knowledge of the matter told S&P Global Platts Friday. The Khafji crude cargo of about 1.73 million barrels was shipped from Shibushi to Qingdao by a Japanese company on September 12, following its purchase of the heavy sour crude cargo in a tender by the Ministry of Economy, Trade and Industry in June, the sources said. China’s rare purchase of the heavy sour crude cargo ...

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Honduras coffee exports to fall as farmers’ plight deepens – industry

Coffee exports from Honduras are expected to fall in the next harvest, a senior industry official said on Thursday, as lower bean prices in the global market and climate change dented businesses across the Central American country. Honduras, the largest coffee exporter in Central America, expects its 2019-2020 harvest to drop by about 4.6% to 6.6 million bags of 60kg each, the Honduran Coffee Institute said. Apart from falling prices, climate change was another factor that had made coffee growing difficult for many in recent years, Francisco Ordonez, director of ...

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US net export sales of wheat in latest week fall to 10-week low

US net export sales of wheat in the week to September 12 slumped to the lowest in 10 weeks, falling 53.1% to 286,589 mt from a week ago, led largely by a reduction in sales to unknown destinations and the Philippines, latest data from the US Department of Agriculture showed. Wheat export sales for the week to September 12 were below market expectations, according to analysts, who had expected sales to be in the range of 300,000-600,000 mt for the week. In the week ended September 5, US wheat export ...

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GSPC seeks LNG cargo for late Oct-early Nov delivery: sources

India’s Gujarat State Petroleum Corp (GSPC) is seeking a liquefied natural gas (LNG) cargo for delivery over late October to early November, three industry sources said. The company is seeking the cargo for delivery into Dahej or Hazira or any West Coast discharge port at buyer’s option, according to one of the sources. Offers are due by Sept. 23, the source added. Source: Reuters (Reporting by Ekaterina Kravtsova in LONDON and Jessica Jaganathan in SINGAPORE, editing by Deepa Babington)

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