Despite diverging fundamentals in European LNG and LPG markets, US arbitrage economics for both have narrowed as export logistics and abundant supply weigh on sentiment. US prices remain elevated on strong domestic heating demand as peak heating season comes into play. Meanwhile, logistical...
The proportion of US LNG exports being sent round the Cape of Good Hope remains elevated in January as drought-related restrictions at the Panama Canal and attacks on shipping in the Red Sea force shippers to take the longer route to Asia. Of total US exports of 4.55 million mt in the month to Jan....
European propylene markets have had a volatile start to the new year with firm restocking demand following December’s seasonal downturn running up against tight supply due to outages and distribution disruptions in both inland and coastal markets. At the same time, demand from domestic derivatives...
Stockpiles of oil products at the UAE’s Port of Fujairah fell 1.2% in the week ended Jan. 15, the second consecutive weekly decline, according to data from the Fujairah Oil Industry Zone. The total fell to 18.013 million barrels as of Jan. 15, the lowest since Dec. 25, the FOIZ data published Jan....
Japan’s NYK Line, among the world’s largest ship operators, halted the passage of all of its operated ships through the Red Sea amid increased security concerns in the wake of recent air strikes, a NYK spokesperson told S&P Global Commodity Insights Jan. 17. NYK joins a growing number of major...
Singapore’s top bunker fuel supplier, Equatorial Marine Fuel Management Services, is riding on a wave of decarbonization initiatives that include promoting the supply of methanol, biofuels, ammonia and LNG as marine fuels in the city-state, its executive director Choong Zhen Mao told S&P Global...
In a move that will jack up global freight, Japan’s NYK Line, among the world’s largest ship operators, halted the passage of all of its operated ships through the Red Sea – even canceling an immediate VLCC cargo lifting – amid increased security concerns in the wake of recent air strikes, a NYK...
U.S. and U.K. airstrikes on Houthi positions in Yemen have not made the Red Sea any safer for shipping. “Red Sea issues are getting worse, not better,” said Stifel shipping analyst Ben Nolan.
The dry bulk carrier Gibraltar Eagle, owned by Connecticut-based Eagle Bulk (NYSE: EGLE), was struck by an anti-ship ballistic missile in the Gulf of Aden on Monday. The dry bulk carrier Zografia, owned by Greece’s Thenamaris, was hit by a missile in the southern Red Sea on Tuesday.
Energy shipper Shell...
https://www.freightwaves.com/news/red-sea-conflict-worsens-forcing-more-ship-detours-around-africa
More companies have joined the ranks of oil producers avoiding the Red Sea, trade sources said, with Shell, ADNOC and Reliance Industries among those seen taking precautions amid escalating security risks. S&P Global Commodities at Sea data showed that Indian refiner Reliance, a key diesel/gasoil...
(Bloomberg) — Liquefied natural gas suppliers, including Qatar and Russia, are avoiding the Red Sea amid heightened risk of attacks by Houthis militants and warnings of escalation from Doha. The…
https://gcaptain.com/lng-carriers-divert-from-red-sea-as-qatar-warns-of-escalation/