Indonesia’s palm oil exports are set to jump in the second half of the year after the scrapping of export levies, but the 2022 total will still be lower than last year’s 33.7 million tonnes due to earlier restrictions, an industry official told Reuters. Lower shipments could lift stocks at the...
https://www.hellenicshippingnews.com/indonesias-2022-palm-oil-exports-to-fall-stocks-to-rise/
China’s refiners are set to release huge stocks of diesel onto the world market just in time to meet winter demand, according to industry sources. Refinitiv, a unit of the London Stock Exchange Group, said Beijing has granted refiners up to 15 million tonnes of oil product quotas for the rest of...
Guyana has launched a tender to choose a marketing agent for its share of Liza crude oil exports, the Natural Resources ministry said, following the expiration of a contract with a unit of Saudi Aramco. A consortium by U.S. companies Exxon Mobil Corp and Hess Corp and China’s CNOOC is in charge of...
https://www.hellenicshippingnews.com/guyana-launches-tender-for-new-agent-to-sell-its-crude-exports/
Qatar’s liquefied natural gas (LNG) exports to Europe should be “significant” in the next five to seven years, according to HE the Minister of State for Energy Affairs Saad Sherida al-Kaabi. In an interview to the Energy Intelligence, he highlighted that production from the Golden Pass LNG project...
French ocean carrier CMA CGM has announced a new peak season surcharge (PSS) for reefer cargo, effective from 23 October until further notice.
The Marseille-headquartered container line will apply the new surcharge from North Europe (except France), Scandinavia, Poland, Baltic, United Kingdom, West Mediterranean, Adriatic, Morocco, West Africa, East Mediterranean and Black Sea to Angola, Democratic Republic of Congo, Gabon & Congo (countries served on Euraf 5 service).
CMA CGM said that PSS will...
https://container-news.com/cma-cgm-to-implement-new-us400-pss-for-reefer-boxes-from-europe/
India’s state-run Bharat Petroleum Corp said it had signed a preliminary agreement with Brazil’s national oil company Petrobras to help it diversify its crude oil sourcing. Indian state refiners rarely buy Brazilian oil. The Memorandum of Understanding (MoU) was signed by BPCL Chairman Arun Kumar...
https://www.hellenicshippingnews.com/indias-bpcl-signs-mou-with-petrobras-to-diversify-oil-sourcing/
Spot rates on Drewry’s are no longer dreary. The World Container Index (WCI) took a near 10% tumble, the first in 29 months, as the index slid down to US$4,472 on 22 September. It must be noted that the WCI recorded its highest-ever quote on 23 September 2021 at US$10,377, exactly, a year back. The WCI has now lost all of its gains since January 2021.
The Index had shaved 57% ever since then, driven primarily by spot rate corrections in trade lanes from China to Rotterdam, Genoa,...
https://container-news.com/world-container-index-sinks-to-january-2021-levels-at-21-month-low/
Indonesia will strive to corner at least 60 per cent share of the Indian palm oil markets which in recent times have slipped to around 47 per cent with Malaysia occupying the rest, a senior official from its largest palm trade association said. “Trade relations with India did get impacted due to...
A total of 211 ships with 4.7 million tonnes of agricultural products on board have left Ukraine so far under a deal brokered by the United Nations and Turkey to unblock Ukrainian sea ports, the Ukrainian infrastructure ministry said on Saturday. The ministry said eight ships with 131,300 tonnes of...
India’s thermal coal imports from Russia are expected to fall for the first time in four months in September, two research consultancies said, potentially resulting in lower revenues for Moscow at a time it is mobilising more troops to fight in Ukraine. Indian consultancy Coalmint expects September...