Home / Commodities / Freight News

Freight News

Rosneft holds jumbo tender to sell Urals crude and CPC Blend loading in Apr-Sept 2019

Russia’s Rosneft has issued a tender to sell Urals and CPC Blend crude oil from Russian ports in April-September 2019, according to tender documents published on Rosneft’s website. Rosneft offered buyers 2.52 million tonnes – 10.68 million tonnes of Urals crude oil to be loaded from Primorsk, Ust-Luga and Novorossiisk, unchanged from the volumes it offered buyers for loading in October 2018 – March 2019. Rosneft also offered buyers 0.48 million tonnes – 1.35 million tonnes of CPC Blend in March-September 2019, unchanged from the previous tender offer, the document ...

Read More »

Oil import bill jumps 15pc in July-December

Pakistan’s oil import bill jumped nearly 15 per cent year-on-year to $7.6 billion during 1HFY19 from $6.675bn in same period last year, Pakistan Bureau of Statistics reported on Thursday. The country’s petroleum bill is steadily on the rise despite the fall in international prices. The government has taken several measures to cut import bill in a bid to ease pressure on the dwindling foreign exchange reserves. Pakistan has already finalised agreements with Saudi Arabia and United Arab Emirates for a deferred oil facility which will allow the country to receive ...

Read More »

Move over Mexico, South Korea now tops list as biggest importer of LNG from Sabine Pass

South Korea overtook Mexico last month as the biggest importer to date of LNG produced at Cheniere Energy’s Sabine Pass terminal, even as netbacks from the US Gulf Coast to Europe strengthened compared with Asia, data compiled from S&P Global Platts Analytics’ vessel-tracking tool cFlow showed. Since the first LNG cargo left the Louisiana facility in February 2016, Mexico had been the biggest buyer, given its heavy reliance on US supplies of the fuel to heat homes and run electricity generating plants. While it continues to bring in shipments, new ...

Read More »

Philippines may ease sugar import restrictions in 2019

The Philippine government wants to ease sugar import restrictions this year, on the back of record inflation in 2018, the country’s Budget Secretary, Benjamin Diokno said. The raw sugar mill-site composite price in the Philippines surged by about 49% from January 2018 to hit a record high of Philippine Pesos 1,952.67/kg or $745/mt in July 2018, before ending the year at Pesos 1,548.16/kg, Sugar Regulatory Administration data showed. Meanwhile, the Metro Manila retail price of white sugar increased by 21% from the beginning of last year to peak at Pesos ...

Read More »

US sanctions on Venezuelan crude could force global oil rebalance: sources

The US is again considering sanctions on Venezuelan crude, an action which would likely boost demand for heavy Saudi and Canadian crude grades currently subject to output cuts, cause medium and heavy prices to strengthen further and, potentially, force US Gulf Coast refiners to run more domestic sweet grades. The impact of the sanctions may also have unintended impacts as Venezuela redirects barrels to Asian markets in need of heavy crudes, leaving US Gulf Coast refiners to scramble for barrels from Colombia, Mexico, Iraq and other sources to fill a ...

Read More »

U.S. likely to cut number of Iran oil sanctions waivers in May analysts

The United States is likely to extend waivers from sanctions on Iranian oil imports in May but will reduce the number of countries receiving them to placate top buyers China and India and to decrease the chance of higher oil prices, analysts said. Washington surprised oil markets after granting waivers to eight Iranian oil buyers when the sanctions on oil imports started in November. Benchmark Brent crude futures fell 22 percent that month and the waivers influenced the Organization of the Petroleum Exporting Countries’ (OPEC) decision to agree in December ...

Read More »

Germany’s 2019 hard coal imports seen rising after mining ends

Germany is expected to import 45 million tonnes of hard coal this year, up roughly 1.4 percent from 2018 despite mounting competition from renewable energy, as the closure of domestic mines reduces domestic supply, importers said on Friday. The total would comprise an estimated 30 million tonnes for power generation and 15 million tonnes of coking coal and coke, products used in steelmaking, data from lobby group VDKI showed. Germany’s last two hard-coal mines, in the west of the country, closed at the end of December under a deal to ...

Read More »

India to bar private refiners from tapping Iran oil quota

India will not share the limited supply of Iranian crude allowed under a US waiver from sanctions with private refiners, according to people with knowledge of the matter. That is a departure from the earlier practice of splitting exempted volumes. The government has asked its four state refiners led by Indian Oil Corp. to share the entire 9 millions barrels of Iranian oil available every month under a 180-day waiver from US sanctions, the people said, asking not to be identified. Private refiner Essar Oil, now rechristened Nayara Energy after ...

Read More »

Malaysian Kimanis crude oil exports to rise 11% on month to 6 mil barrels in Mar

A total of 6 million barrels of Malaysian Kimanis crude oil are scheduled to be exported in March, up 11% from February, trade sources said. The latest loading program for the middle distillates-rich crude comprises 10 cargoes each 600,000 barrels in size. The February program had nine cargoes of 600,000 barrels each. The cargoes will load from the Sabah Oil and Gas Terminal. State-owned Petronas is scheduled to load four cargoes over March 5-9, March 14-18, March 20-24 and March 30-April 3, the program showed. ConocoPhillips has two cargoes for ...

Read More »

Germany imported less gas in November but still up in Jan-Nov period

Germany imported 9 percent less natural gas in November 2018 than the same month in 2017 but imports for the first 11 months to November were still 9 percent higher than the same period a year earlier, official data showed. The volume of imports from January to November 2018 was 3.99 million Terajoules (TJ) or 113 billion cubic metres (cbm), according to trade statistics office BAFA, which releases data with a time lag. German importers paid 21.2 billion euros ($24.1 billion) for gas in the year to November, up 23.3 ...

Read More »

China’s soybean imports show American farmers have more to fear than the trade war

China’s soybean imports in the opening weeks of 2019 have plunged from recent years, raising concerns for American farmers who were hoping that a trade deal would offer swift relief. Soybean shipments offloaded in China this year are down about 37 percent from the first two weeks of 2018, according to tanker-tracking firm ClipperData. To be sure, a couple weeks of data represent a small sample size, but the drop is very concerning in light of market conditions and trade tensions, says Ken Smithmier, director of research for agricultural markets ...

Read More »

India committed to buying $5 billion of oil, gas from US every year

India is committed to buying nearly $5 billion of oil and natural gas from the United States every year, Harsh Vardhan Shringla, the new Indian ambassador said Tuesday at a US chamber of commerce event, adding bilateral trade between the two countries was growing “exponentially” and not “incrementally”. A recent importer of US oil and gas, India plans to scale up its buys — which stood at $3.8 billion in 2018, including bitumen substitute and mineral wax, according to the Indian embassy website. India is “committed to purchase close to ...

Read More »

China remains largest buyer of Oman’s crude in December: report

China remained the largest buyer of Oman’s crude oil in December 2018 despite a decrease from the previous month, a monthly report by Oman’s Ministry of Oil and Gas said. Oman’s production of crude oil and condensate in December 2018 amounted to about 30.76 million barrels, with a daily average of 992,192 barrels, according to the report. The total crude exports reached about 20.02 million barrels in the same month, the report said. As the largest importer of Oman’s crude last December, China took 87.23 percent of Oman’s total crude ...

Read More »

Rains continue to dampen Indonesian thermal coal supply as China, India markets heat up

Bad weather conditions in Indonesia, especially in the South Kalimantan province, continue to affect thermal coal production and loading schedules, pushing up spot market prices in recent days, sources said Thursday. Market sources had noted a delay in loading schedules since weeks ago amid thunderstorms in Kalimantan. “Suppliers kept pushing back the loading period, and those vessels that had arrived at the port [in Kalimantan] had to wait in queue,” a China-based trader said. The delays were previously expected to last six to nine days, but sources said Thursday shipments ...

Read More »

Traders Want To Know, Will Trump Zero Out Iranian Oil Exports?

The Trump administration’s sanctions on Iran’s oil industry have only been in place for two and a half months. Still, traders and analysts are itching for information about whether the waivers, called Significant Reduction Exemptions or SREs, will be extended come May. The SREs were originally given to eight countries in November, allowing them to continue importing small amounts of Iranian crude for six months. Many of the countries that received SREs had halted imports of Iranian oil completely prior to the implementation of the sanctions. Some of these, like ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping