The increased mix of condensate component in Papua New Guinea’s flagship Kutubu Blend crude may help the Oceania producer attract new customers in Northeast Asia, with multiple South Korean end-users finding the light sweet grade attractive for its higher naphtha yield. The re-imposition of US...
The United States and China have spent more than 40 years building a relationship by increasing their economic, academic and political connections — a bond that even withstood the 1989 Tiananmen Square protests. But the relationship is now so frayed, concerns exist that it may never fully heal. The...
CMA CGM announces the following Peak Season Surcharge, applicable until further notice:
Effective January 1st, 2020 (date of loading in the origin ports):
Iraqi oil exports fell to 3.428 million barrels per day (bpd) in December from 3.5 million bpd the previous month, the oil ministry’s spokesman said on Thursday. Exports from its southern Basra terminals reached 3.326 million bpd, down from 3.4 million bpd in November, spokesman Asim Jihad said....
https://www.hellenicshippingnews.com/iraq-oil-exports-fell-to-3-428-mln-bpd-in-december/
The Egyptian Holding Company for Natural Gases (EGAS) reduced Egypt’s gas exports through the Idku liquefaction plant to about 400m cubic feet per day (scf/day), due to the instability of navigation in the Mediterranean. A source in EGAS told Daily News Egypt that the instability of navigation in...
China has raised the volumes of its first batch of 2020 fuel export quotas by 53% from a year earlier to 27.99 million tonnes, according to a document from the Ministry of Commerce that was reviewed by Reuters. The new quotas will be shared among five state oil companies, PetroChina, Sinopec, China...
https://www.hellenicshippingnews.com/china-issues-first-2020-fuel-export-quotas-up-53-from-year-ago/
US crude oil imports fell to nearly 6.24 million b/d in October, the lowest monthly average since January 1994, the US Energy Information Administration reported. The decline in imports arrived as the US continues to break production output records and is exporting more oil to the world market. In...
https://www.hellenicshippingnews.com/us-crude-imports-fall-to-lowest-point-since-1994-eia/
The World Container Index assessed by Drewry, a composite of container freight rates on 8 major routes to/from the US, Europe and Asia is up by 15.1% to $1,832.23 per 40ft container (updated Thursday, 2 January 2020).
Two-year spot freight rate trend for the World Container Index:
World Container...https://container-news.com/drewry-world-container-index-02-jan/
Indian state-owned gas utility GAIL plans to import 90 LNG cargoes — or around 5.8 million mt of LNG — from the US in the fiscal year ending March 31, 2021, almost the same volume as it expects to import in the current fiscal year (April 2019-March 2020), company officials said. This will be more …
South Korea’s crude oil imports in December fell 6.1% from a year earlier to 87.3 million barrels, preliminary data from the Ministry of Trade, Industry and Energy showed. Final data will be released later this month by state-run Korea National Oil Corp (KNOC). Details are as follows (in millions...
https://www.hellenicshippingnews.com/s-koreas-dec-crude-oil-imports-down-6-1-y-y-preliminary-data/