Oil Imports

Oil Rises 1% On China Demand Hopes And Supply Concerns

Credits: Timothy Newman/ Unsplash
  • Trade volumes muted due to the U.S. holiday long weekend.
  • China ministry meets refiners on Russian oil trade -sources.
  • India’s Jan. crude imports hit a 6-month high on Russian inflows.

Oil prices rose over 1% on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers and Russia’s plans to rein in supply.

Oil rises 1%

Brent crude settled up $1.07, or 1.3%, at $84.07 a barrel. U.S. West Texas Intermediate crude (WTI) for March,...

https://mfame.guru/oil-rises-1-on-china-demand-hopes-and-supply-concerns/

FreightWaves Flashback: US may set aside 30% of oil for US ships

FreightWaves Classics articles look at various aspects of the transportation industry’s history. If there are topics that you think would be of interest, please send them to [email protected].

The many industries that make up the world of freight have undergone tremendous change over the past several decades. Each week, FreightWaves explores the archives of American Shipper’s nearly 70-year-old collection of shipping and maritime publications to showcase interesting freight stories of...

https://s29755.pcdn.co/news/freightwaves-flashback-us-may-set-aside-30-of-oil-for-us-ships

Freight Rates Slump To 12 Month Low As Oil Production Cuts & Demand Sets In

A stunningly strong 12 months for the tanker shipping industry is now being replaced by lower freight rates, as lower oil production and demand sets in across the globe, writes BIMCO CEO, Peter Sand in an article published on their website.

Only China bucks this trend with record-high crude oil imports, benefiting from the low oil price. Given the global recession and lower transport demand, however, the tanker industry is set for some challenging months.

Demand drivers and freight rates
  • Crude...

https://mfame.guru/freight-rates-slump-to-12-month-low-as-oil-production-cuts-demand-sets-in/

US Beefs Up Global Oil Imports Ahead of IMO 2020

According to trading and analyst sources, the US is taking advantage of record-low prices of one of the world’s dirtiest fuels by buying record volumes, which it intends to upgrade into cleaner products before new shipping rules take effect, reports New Age Business.

US imports boosted

US trade sources said that it recently had become economical to ship fuel oil from countries such as Russia, boosting imports of the product into the United States.

This comes even as prices for high-sulphur fuel...

http://mfame.guru/us-beefs-up-global-oil-imports-ahead-of-imo-2020/

China Oil Imports from Ship To Ship Transfer Surge in September

  • Chinese oil imports via ship-to-ship transfers tripled in September to an estimated 910,000 tonnes, compared with a month earlier, based on Bloomberg’s ship-tracking data.
  • The transfers were done in the South China Sea, and in the Malacca Strait, the data showed.

Chinese oil imports from ship-to-ship transfers surged last month as flows from some traditional suppliers were crimped by the White House’s aggressive trade and foreign policies, reports Bloomberg.

Ship tracking data

Some 910,000 tons...

http://mfame.guru/china-oil-imports-from-ship-to-ship-transfer-surge-in-september/