Russia’s Surgutneftegaz awarded a spot tender to sell two cargoes of 100,000 tonnes each for loading from Baltic ports early in May at price levels firmer than recent estimations, traders said. They said the producer sold a cargo for loading from Primorsk port on May 2-3 and from Ust-Luga on May...
Japan’s customs-cleared crude oil imports fell 0.7% in March from the same month a year earlier, the Ministry of Finance said on Monday. Japan, the world’s fourth-biggest crude buyer, imported 3 million barrels per day (14.782 million kilolitres) of crude oil last month, the preliminary data...
https://www.hellenicshippingnews.com/japan-march-crude-import-volume-down-0-7-y-y-mof/
After witnessing a whopping year-on-year growth of 136 per cent during April-January of FY20, the country’s iron ore exports are projected to decline as the Covid-19 induced lockdown takes a toll on port operations and availability of labour. “There is hardly any significant production from...
An initiative from the Port of Koper and the Slovenian Ship and Freight Agents Association has seen Slovenia’s Ministry of Infrastructure adopt a temporary reduction in port dues until the end of September.
An announcement was made by the minister Jernej Vrtovec during his visit to the Port of Koper on 17 April with a view to helping traders during the Covid-19 pandemic. The minister had arrived in Koper to view the start of port infrastructure projects.
“The port of Koper is our window to the...
https://container-news.com/slovenia-cuts-port-dues-amid-koper-expansion-plans/
As the world faces unprecedented destruction in oil demand brought about by the coronavirus pandemic, China has in recent weeks emerged to be the only respite for crude sellers seeking to offload their cargoes, market sources told S&P Global Platts this week. Chinese refineries have been ramping up...
https://www.hellenicshippingnews.com/china-the-only-respite-for-crude-sellers/
Hapag-Lloyd has announced increased Ocean Tariff rates from Mediterranean and Black Sea to East Asia, effective from 1 May 2020.
Mediterranean to East Asia
In addition, Maersk has announced it is extending the Peak Seasonal Surcharge (PSS) for all dry cargo from Ukraine to Asia effective from 1 May 2020 to 15 May 2020.
Ukraine | Asia | All Dry | USD 150 |
Moreover, considering the...
https://container-news.com/top-shipping-lines-increases-asia-charges/
German energy company EnBW is seeking four cargoes of liquefied natural gas (LNG) for delivery in the third quarter of this year, two industry sources said on Wednesday. The cargoes are sought for delivery in northwest Europe, one of them said. The tender closes on April 17, another source said....
https://www.hellenicshippingnews.com/germanys-enbw-seeks-four-lng-cargoes-in-tender-sources/
Over the coming three weeks the trajectory of the Covid-19 virus will become more apparent and the issues around the supply chain will become clearer according to forwarding sources in the US.
Trading over the next three weeks will be tough with 150 retailer closed, with no indication of when they will reopen, and that means a severe decline in demand will necessarily follow, if it is not already occurring.
“According to Neil Saunders MD at Global Retail Data, 190,000 stores representing 50% of...
https://container-news.com/us-markets-enter-critical-phase-of-lockdown/
An overhang of unsold May Al-Shaheen crude cargoes from last month’s trading cycle is likely to weigh on the ongoing crude tender for the medium-heavy crude grade, market participants told S&P Global Platts Wednesday. “There are a lot of unsold Al-Shaheen [cargoes] from May,” a source at an Asian...
China has found itself in the rare position of being an active buyer of steel in the spot market since mid-March as the nation emerges from the worst of its coronavirus outbreak – just as the major buyers of its steel exports grapple with what has evolved into a global pandemic. In its cautious...