By Alex Longley (Bloomberg) — How do you measure the value of the world’s most important commodity? It’s a conundrum that brought uproar in the oil market over the past few…
Platts
Oil Pricing Overhaul Delays Shipping Cost Uproar
Platts defers plan to include West Texas oil prices in its basket of international crudes following pushback from industry, says an article published in The World Street Journal.
Plans put-on holdPlans for the biggest overhaul in decades of how international oil prices are measured are being put on hold following objections over how to treat shipping costs.
Global commodity marketPrices of Texas oil were going to be included in assessments of Brent crude, the benchmark price underpinning the...
https://mfame.guru/oil-pricing-overhaul-delays-shipping-cost-uproar/
Container Shipping Contracts To Expect Highs Amid Season Surcharges
- Shorter timeline to return containers amid Asia equipment shortage.
- Peak season surcharges rolled out for more shippers.
- Spot market activity expected higher as hedge against higher contract rates.
Companies negotiating annual container shipping contracts with shipping lines before the end of the first quarter can expect increases in peak season surcharges and decreases in allowable free time with the container, as shipowners gain leverage from increased demand, reports Platts.
Empty container...https://mfame.guru/container-shipping-contracts-to-expect-highs-amid-season-surcharges/
Platts Launches A New Dry Bulk Weighted Average Index
- Platts has launched a new dry bulk weighted average index – APSI 5 – for Supramax class bulkers, effective February 1, 2021.
- Platts is the leading independent provider of information, analytics and benchmark prices for the commodities and energy markets.
- APSI 5 is the dry bulk freight market’s first regional weighted average index capturing the Asia Pacific trade on Supramax bulkers.
- It reflects an important segment of the global dry bulk market that is otherwise not reflected in existing...
https://mfame.guru/platts-launches-a-new-dry-bulk-weighted-average-index/
Restricted Availability Hampering Methanol Bunkering Uptake
Recently Platts spoke with Stuart McCall from Methanex about the prospect of methanol as a bunker fuel. Today we are going to take a look at that interview.
Methanol HurdleMethanol offers significant greenhouse gas savings as a bunker fuel but demand for its use in other sectors along with limits on availability are preventing wider uptake, at least for now, Stuart McCall, director for Business Development at Canadian methanol producer Methanex told S&P Global Platts in a recent interview.
Methano...
https://mfame.guru/restricted-availability-hampering-methanol-bunkering-uptake/
Container Freight Demand To Remain Buoyant Amid Surging Rates
- Container freight demand to escalate throughout the Lunar New Year.
- A delay in the return of containers to dockside in the US and Europe in Q2 2020 led to equipment shortages.
- The global economy is expected to recover amid the COVID vaccine administration.
Demand for container freight looks set to remain at very high levels throughout the Lunar New Year, with freight rates from North Asia to the UK at all-time highs as volumes continue to rise, reports Platts.
Soaring freight ratesImporters...
https://mfame.guru/container-freight-demand-to-remain-buoyant-amid-surging-rates/
US Trade Deficit In Goods Widened 5.5% Y-O-Y
The US trade deficit in goods widened 5.5% year on year to a new record in November at $84.82 billion as a lack of containers available for exporters contributed to an unequal growth rate compared with import volumes, says an article published in S&P Global.
What Data SaysUS goods exports were valued at $127.22 billion in November, up 0.8% from the previous month, but down 6.6% from November 2019, according to US Commerce Department data.
US goods imports in November totaled $212.04 billion as...
https://mfame.guru/us-trade-deficit-in-goods-widened-5-5-y-o-y/
Singapore HSFO Sales Crosses 1 Million Mt As Shipowners Favour the Bunkering Hub
- Ships with scrubbers calling at Singapore port for bunkers
- Favorable HSFO pricing in Singapore attracts shipowners
- Crew changes, other factors also boost SG’s bunker prospects
- MPA’s Prompt action in Him Leong’s collapse boosted confidence of the industry.
According to a Platts report, Singapore will likely continue to see strong HSFO sales in the coming months, as an increasing number of ships installed with scrubbers make bunker calls at the city-port, where ready HSFO availability that is...
https://mfame.guru/singapore-hsfo-sales-crosses-1-million-mt-as-shipowners-favour-the-bunkering-hub/
Platts To Host Annual North American Crude Oil Digital Summit
Platts is planning to host 3rd Annual North America Crude Oil Exports Summit, says a press release published on its website.
Agenda of the summitWhere do North American crude oil export dynamics stand amid a global pandemic and an upstream sector “Shale 3.0“ sea change?
2020 has been a tempestuous year for crude oil markets. Global oversupply collapsed demand, historic price lows, escalating investor scrutiny around capital discipline and ESG, as well as geopolitical turbulence, have created...
https://mfame.guru/platts-to-host-annual-north-american-crude-oil-digital-summit/
Top Oil Pricing Agencies Launch New U.S. Crude Benchmarks
By Julia Payne and Devika Krishna Kumar LONDON/NEW YORK, June 25 (Reuters) – After U.S. crude futures took an historic plunge into negative territory in April, the two top oil price reporting agencies said on Thursday they will start new benchmarks reflecting the price of Gulf Coast-traded crude on...