The export market has been a boon for US crude oil in early 2020, with the world, and especially Asia, looking to quench their thirst for light sweet grades. US outflows have been strong, with cFlow, S&P Global Platts’ trade flow software, estimating exports at 3.245 million b/d through the first...
Freight News
CMA CGM applies new rates from India & Sri Lanka
CMA CGM announces the following General Rate Restoration:
- Effective from 1 March 2020 (B/L date)
- From India West Coast
- To Mombasa, Kenya and Dar Es Salaam, Tanzania
- Quantum: US$ 150/TEU
- All cargo dry, reefer, OOG and breakbulk
CMA CGM also applies new Freight All Kinds (FAK) rates as follows as...
https://container-news.com/cma-cgm-applies-new-rates-from-india-sri-lanka/
South Korea’s January U.S. crude imports rise 53.3% on-year
South Korea’s U.S. crude imports in January rose 53.3% from a year earlier, customs data showed on Saturday, reflecting the country’s steady purchases of U.S. oil in the absence of Iranian crude due to sanctions. In January, the world’s fifth-largest crude importer imported 1.72 million tonnes of...
https://www.hellenicshippingnews.com/south-koreas-january-u-s-crude-imports-rise-53-3-on-year/
Maersk introduces surcharge from Chile
Maersk is introducing the Peak Season Surcharge (PSS) Chile (CL) to Far East Asia (FEA) for all reefer commodities, effective 15 February 2020.
The tariff levels are as follows:
Chile to Far East Asia | ALL_REEF | Per... |
https://container-news.com/maersk-introduces-surcharge-from-chile/
Oman’s daily crude exports drop 17 percent in January
Oman’s daily crude exports decreased by 17.88 percent month on month in January to 756,586 barrels, said an official report issued Saturday. The country’s daily production of crude oil in January also decreased by 1.26 percent to 958,270 barrels, said the monthly report of the Omani Ministry of Oil...
https://www.hellenicshippingnews.com/omans-daily-crude-exports-drop-17-percent-in-january/
Brazilian farmers aggressively sell soy, corn amid weak currency, U.S.-China deal
Brazil might not be harvesting soybeans at a record pace, but farmers there are certainly selling their crops at a much quicker clip than usual due to the weak currency and uncertainty over how the U.S.-China trade deal will affect their business. Brazil typically ships more than half of its annual...
PDVSA having hard time finding buyers for 677,000 b/d of February crude
Venezuela’s state owned PDVSA has 677,000 b/d of crude available to sell for February, but no buyers because of US sanctions, according to a company official. “The climbing of US sanctions against the Nicolas Maduro government alienated the few clients that were still daring to enter Venezuelan...
Hapag-Lloyd applies new GRIs
Effective 16 March 2020, Hapag-Lloyd will increase rates for all dry and refrigerated commodities as follows:
Origin: USA & CANADA
Destination: Arabian Gulf, Red Sea & Indian Subcontinent
Dry and Refrigerated Containers:
- US$ 40 per 20′ / 20 RE Container
- US$ 50 per 40′ / 40′ HC / 40 RE Container
Arabian Gulf defined as: United Arab Emirates, Kuwait, Bahrain, Iraq, Oman, Qatar, and the Saudi Arabia destinations of Dammam, Riyadh, and Jubail
Red Sea defined as: Jordan and the Saudi Arabia...
Thailand’s PTT seeks up to 2 LNG cargoes for Feb-March delivery – sources
Thailand’s PTT is seeking up to two liquefied natural gas (LNG) cargoes for delivery over February to March, two industry sources said on Friday. The company is seeking the cargoes on a delivered ex-ship (DES) basis for Feb. 20 to March 10 delivery, one of them said. Offers are due by Feb. 17 and...
Brazil oil exports to China seem normal still, says oil regulator
Brazilian oil exports to China seem to be normal, despite the coronavirus outbreak there, the head of Brazil’s oil regulator ANP, Decio Oddone, told reporters. Oddone said he recognizes the worries expressed by participants of the oil market regarding Chinese demand, but said he has not heard of...