Please read the below story of an incident. Keep our company’s standards and procedures in mind while reading to compare with the actions of the crew below as we will discuss the factors which led to the incident occurring. A container vessel with a capacity of 4,000 TEU was en route from Shanghai to Los Angeles. The charterer engaged a weather routing service provider that recommended a route passing through the Tsugaru Kaikyo, a narrow waterway between the Honshu and Hokkaido islands in Japan. The advised path then followed a ...

Iran has released seven crew members of a Portuguese-flagged container ship seized in the Gulf on 13 April, according to a statement by Lisbon on Thursday. Seventeen of the 25-member crew still remain on board as Tehran accuses the ship of being associated with Israel. Five of the freed crew members are from India, while the others are from Philippines and Estonia, the Portuguese government stated. The Foreign Ministry also noted that one Indian woman had already left the cargo vessel, as announced by Iran on 18 April. On 27 ...

PT Pertamina International Shipping (PIS) is solidifying its position as a top-tier player in ASEAN LPG transport by acquiring two additional Very Large Gas Carriers (VLGCs), named VLGC Pertamina Gas Caspia and VLGC Pertamina Gas Dahlia. These VLGCs signify more than mere vessels; but a testament to international collaboration, technological advancement, and an unwavering commitment to bolstering Indonesia’s energy security. We believe this international collaboration can enhance the capabilities of PIS, as part of Pertamina, in strengthening energy infrastructure,” Hattari emphasized on Thursday (09/05). He stressed these vessels’ timely arrival ...

China’s soybean imports in April jumped 18% from a year earlier, data showed on Thursday, as buyers snapped up cheap and plentiful Brazilian beans from the South American producer while it was wrapping up its harvest season. Total arrivals for the month were 8.57 million metric tons, according to the General Administration of Customs, the highest on record for April. Soybean arrivals into the world’s top buyer during the January-April period were 27.15 million tons, down 2.9% from the same period last year, the data showed. The rise was driven ...

Iron ore futures fell to their lowest in more than two weeks, pressured by an inventory accumulation at Chinese ports and caution about demand outlook, but property support measures in China lent some support. The most-traded September iron ore on China’s Dalian Commodity Exchange (DCE) DCIOcv1 fell as much as 1.6% to 857 yuan ($118.62) a metric ton, the lowest since April 24, earlier in the session. It declined 0.7% on a weekly basis. The contract, however, rebounded to close 0.3% higher at 873.50 yuan. Seasonal constraints in major iron ...

This five-part story series examines the coking coal market from a few angles. This first part focuses on India’s rising importance in spot markets. The second part visualizes the nation’s meteoric rise in met coal demand , the third examines Australia’s continued dominance as an exporter, the fourth examines Chinese demand. This part explores how US exports hinge on the growth of Asia’s blast furnace capacity. US metallurgical coal suppliers have sharpened their focus on Asia, betting on firmer growth projections for emerging markets following sluggish demand in Europe and ...

The U.S. Department of Agriculture on Friday will publish its first official outlooks for the upcoming 2024-25 marketing year, and both the lower price environment and recent weather events could cause a shift in dynamics among major exporters in the coming months. Global corn supplies in 2024-25 are predicted to hit six-year highs and soybeans all-time highs, though wheat stocks are pegged well below recent averages and up just marginally on the year. U.S. supplies, especially those for soybeans, risk losing additional market share to rival exporters. BRAZIL BOMBSHELL? Traders ...

OPEC will stop publishing a calculation of the world’s demand for its own crude in its monthly oil report, two sources close to the matter said, focusing instead on forecasts for demand for oil from the wider OPEC+ group. The change reflects what has become long-standing cooperation between the members of the Organization of the Petroleum Exporting Countries and the wider grouping on taking collective oil supply decisions. OPEC’s Vienna secretariat has in its monthly reports published an estimate of the demand for OPEC crude, sometimes known as the ‘call ...

Argentina’s natural gas industry is studying alternatives to ship more supplies to Brazil from the massive Vaca Muerta shale play in Patagonia, including via Paraguay as a new market, executives said May 9. One option is to use the existing infrastructure in Bolivia to ship supplies from a connection in northwestern Argentina to the states of Minas Gerias, São Paulo and Rio de Janeiro in Brazil, Daniel Ridelener, CEO of the Argentinian pipeline operator Transportadora de Gas del Norte, said at the VI National Energy Forum organized by the business ...

U.S. gas inventories are near record highs for this time of year after exceptionally mild temperatures linked to the El Nino weather phenomenon slashed gas and electricity consumption for heating during the winter of 2023/24. But ultra-low prices are maximising gas combustion by power generators and forcing producers to cut back drilling, which should ensure the surplus is eliminated before the end of winter 2024/25. Working gas inventories amounted to 2,484 billion cubic feet (bcf) on April 26, the highest for that time of year since 2016 and before that ...

Asia’s middle distillates markets recorded significant gains week-on-week for the first time in three months, with June spot discussions taking off despite cautious outlook and thin spot liquidity through the week. At least two refiners sought to sell their spot June cargoes since early week, with talks of South Korea oil majors also likely to start offering soon as well. China oil majors however may have a bit more volume flexibility for their May and June cargoes given the issuance of a fresh batch of export quotas, further adding to ...

China’s central bank said on Friday it will ensure reasonably ample liquidity and credit expansion to consolidate the country’s economic recovery, which still faces many challenges. The People’s Bank of China (PBOC) will guide the growth of credit and keep liquidity ample, the bank said in its quarterly monetary policy implementation report. “We will maintain the stability of monetary policy, enhance the consistency of macroeconomic policy orientation, strengthen counter-cyclical and cross-cyclical adjustments, increase support for the real economy, and effectively consolidate and enhance the positive trend of economic recovery,” it ...

ECB President Christine Lagarde had been somewhat more cautious in her communication at the April meeting but today’s minutes are very clear: the Bank intends to cut rates at the June meeting. The just-released minutes of last month’s meeting confirm both an increased confidence that inflation is on track back to 2% as well as a clear acknowledgement of the potential risks. As a result, any rate-cutting cycle will be slow and muted. However, for now, it is very obvious. If the June staff projections confirm that inflation is on ...

A recent report from Citi Research’s Johanna Chua looks at how tensions between the U.S. and China could result in broader fragmentation. With U.S.-China trade increasingly at risk, a recent Citi Research report that explores ways in which rising political tensions may lead to geoeconomic fragmentation. The report takes a closer look at four contributing factors and how this potential shift could play out. 1: Friendshoring is slow and costly The initial response to heightened geopolitical risks is more often a reshuffling of trade flows and sourcing, rather than significant ...

The United Kingdom Maritime Trade Operations (UKMTO) organization said on Friday it had received a report of a failed hijacking attempt of a vessel 195 nautical miles east of Yemen’s Aden. The vessel’s master reported being approached by a small craft carrying five or six armed people with ladders. Houthi militants in Yemen have launched drone and missile attacks on shipping in and around the Red Sea and the Indian Ocean to show support for the Palestinians in the Gaza war. Maritime sources say pirates may be encouraged by a ...