UAE’s ADNOC cuts October term volumes by 30% for all crude grades: source

Abu Dhabi National Oil Co., the UAE’s biggest energy producer, has informed its term customers it will reduce by 30% all four grades’ nominations in October, deeper than the 5% cut in the previous three months, a source familiar with the matter told S&P Global Platts on Aug. 31. ADNOC informed...

https://www.hellenicshippingnews.com/uaes-adnoc-cuts-october-term-volumes-by-30-for-all-crude-grades-source/

China’s iron ore imports set for strong August, but where is all the steel going?

China is set to record another month of strong iron ore imports in August, helping to justify the ongoing resilience in the price of the main ingredient in steel. What’s harder to quantify is exactly what’s happening to all the steel being produced. China’s seaborne imports of iron ore were 92.9...

https://www.hellenicshippingnews.com/chinas-iron-ore-imports-set-for-strong-august-but-where-is-all-the-steel-going/

Hapag-Lloyd introduces fresh North America rates in October

Hapag-Lloyd has announced new rates from Europe to the US, Canada and Mexico, effective from 1 October, for all cargoes for 20’ and 40’ general purpose (including high cube containers) as well as 20’ and 40’ reefer containers on the Atlantic Westbound trade.

Standard Container

Reefer Container

Standard Container

Reefer Container

In an action in conjunction with the company’s “Revenue Recovery Program”, the Hamburg-based carrier will also apply a general rate increase from the US and Canada to...

https://container-news.com/hapag-lloyd-introduces-fresh-north-america-rates-in-october/

China’s Sinopec Shanghai to embrace Middle Eastern sour crude to cut costs

Sinopec Shanghai Petrochemical said it will take advantage of cheap medium sour Middle Eastern crude for the rest of the year as it expects Saudi Aramco to maintain the official selling price for Arab Light and Arab Medium crudes below a $1/b premium to the Platts Dubai/Oman average in the fourth...

https://www.hellenicshippingnews.com/chinas-sinopec-shanghai-to-embrace-middle-eastern-sour-crude-to-cut-costs/

China makes the largest purchases of US corn and soybeans in a month

The US Department of Agriculture (USDA) reported this week that Chinese importers purchased more soybeans from the United States and recorded their largest daily buy of US corn in almost a month. The acquisitions took place as both Washington and Beijing reaffirmed their commitment to the Phase 1...

https://www.hellenicshippingnews.com/china-makes-the-largest-purchases-of-us-corn-and-soybeans-in-a-month/

Argentine barley rushes to China as Australia spat reshuffles global trade

Argentine barley shipments have started streaming toward China after a three-year lull as a trade conflict between Asia’s top buyer and main supplier Australia changes global supply flows of the grain used for livestock feed and beer. Argentina is on track to send at least 250,000 tonnes this year...

https://www.hellenicshippingnews.com/argentine-barley-rushes-to-china-as-australia-spat-reshuffles-global-trade/

Russia’s Lukoil says it suspended its Uzbek gas exports to China due to weak demand

Russia’s second biggest oil producer Lukoil has suspended gas exports to China from its projects in Uzbekistan, a company official told a conference call on Friday, due to weak demand. Lukoil has agreed to supply gas to Uzbekistan’s domestic market instead, the official said, adding that the...

https://www.hellenicshippingnews.com/russias-lukoil-says-it-suspended-its-uzbek-gas-exports-to-china-due-to-weak-demand/

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