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...
Freight News
Egypt’s gas exports double to 4.5 bcm in 2019
Egypt’s gas exports have more than doubled to reach 4.5 billion cubic meters in 2019, compared to 2 billion cubic meters in 2018, data from the British oil production company BP revealed. The company stated in its annual statistical review of world energy that 1.7 billion cubic meters of exports...
https://www.hellenicshippingnews.com/egypts-gas-exports-double-to-4-5-bcm-in-2019/
Russian Sep oil shipments to Belarus to grow 41% on month
Russian oil deliveries to Belarus are set to increase by 41% on the month to 354,283 b/d in September, details released by pipeline operator Transneft Aug. 31 indicate. August deliveries were down 38% year on year to 250,638 b/d. Russian deliveries to Belarus have fallen so far in 2020 as a result...
https://www.hellenicshippingnews.com/russian-sep-oil-shipments-to-belarus-to-grow-41-on-month/
July oil products imports jump 23% on year on major run cuts
Japan’s oil product imports jumped 23.2% year on year and 7.5% month on month to 623,650 b/d in July, while local refiners slashed their crude throughput by 30.6% year on year to 2.098 million b/d, preliminary data released Aug. 31 by the Ministry of Economy, Trade and Industry shows. Local...
https://www.hellenicshippingnews.com/july-oil-products-imports-jump-23-on-year-on-major-run-cuts/
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...
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...
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...
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...
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...