Freight News

by hellenicshippingnews… on 18 November 2024 at 11:00 am

Iran currently exports 100,000-150,000 barrels per day (bpd) of condensate which mainly goes to China, Venezuela and the United Arab Emirates, according to FGE. If Trump tightens sanctions on Iran, its condensate exports to UAE and China will likely fall or stop completely as there are less buyers for the ultra light oil than for …

by hellenicshippingnews… on 18 November 2024 at 11:00 am

Turkey is a significant importer of wheat and corn, particularly from the Black Sea region. For the 2024-25 season, wheat imports are projected at 6.5 million mt, mainly from Russia, while corn imports are expected to reach 2.1 million mt, primarily from Ukraine, a decline from last season’s estimates driven by the government’s revised import …

by hellenicshippingnews… on 17 November 2024 at 10:00 pm

The export tax rebate was also removed for copper and lowered for some refined oil, solar, battery and non-metallic mineral products (to 9% from 13%). What are the global trade implications China introduced tax rebates in 1985 to make Chinese products more competitive in international markets and over the years the policy has gone through …

by hellenicshippingnews… on 17 November 2024 at 10:00 pm

Vietnam’s Nghi Son Refinery and Petrochemical has sought government approval to import an additional 1.68 million mt (12.3 million barrels) of Kuwaiti crude oil for its 200,000 b/d Nghi Son refinery, as the refinery runs above capacity to meet domestic product demand, sources familiar with the matter said. The Vietnamese government does not apply an …

by hellenicshippingnews… on 17 November 2024 at 6:00 pm

Russian gas producer Gazprom said it would send 42.4 million cubic metres of gas to Europe via Ukraine on Saturday, the same volume as on Friday, despite expectations of gas supplies cuts to Austria over a contractual dispute. Russian Interfax news agency cited data from European gas pipeline operators as saying that gas exports from …

by hellenicshippingnews… on 15 November 2024 at 10:00 pm

Indonesia’s imports of nickel ore surged to 9.3 million metric tons in the first ten months of 2024, more than 50 times the corresponding figure of 161,917 tons for the year earlier period, the statistics bureau said on Friday. The world’s biggest nickel producer has bought record volumes of the ore from the Philippines since …

by hellenicshippingnews… on 15 November 2024 at 10:00 pm

Annual production of U.S. petroleum coke (petcoke) has remained relatively unchanged over the past 10 years (2014–23), averaging 46 million tons according to our analysis of U.S. Census Bureau data. Most U.S. petroleum coke is exported. The United States exported approximately 41 million tons in 2023, slightly more than the 10-year average for total petcoke …

by hellenicshippingnews… on 15 November 2024 at 6:00 pm

Taiwan’s state-owned energy major CPC Corp has offered 10ppm sulphur gasoil term supplies loading between January and September next year, two sources with direct knowledge of the matter said on Friday. The refiner seeks to sell one 300,000-450,000 barrel cargo on a monthly basis, the sources said. The tender closes on Nov. 20, with bids …

by hellenicshippingnews… on 15 November 2024 at 6:00 pm

China’s finance ministry said on Friday it would reduce or cancel export tax rebates for a wide range of commodities and other products, effective Dec. 1. The country will reduce the export tax rebate rate for some refined oil products, photovoltaics, batteries, and certain non-metallic mineral products from 13% to 9%. It also will cancel …

by hellenicshippingnews… on 15 November 2024 at 11:00 am

Russia’s grain export quota, set to be in place from February to June next year, could be nearly three times smaller than the 29 million tons a year earlier, due to the high pace of exports in recent months and a worse-than-expected harvest, experts said. Russia allows grain exports quota-free from July to January, the …

by hellenicshippingnews… on 15 November 2024 at 11:00 am

Brazil’s soybean meal exports in 2024 will probably set a new record, topping the best mark in history recorded in 2023, according to local grains traders lobby Anec. WHY IT’S IMPORTANT In 2023/24, Brazil should once again be the second global exporter of soybean meal, according to data from the US Department of Agriculture (USDA), …

by hellenicshippingnews… on 15 November 2024 at 11:00 am

Russian energy company Novatek may boost exports of naphtha from its Ust-Luga complex on the Baltic Sea to up to 600,000 tons a months after maintenance and thanks to a new processing unit, two industry sources said. They said Novatek raised operations at all the three condensate fractionation units earlier in November at the complex …

by hellenicshippingnews… on 14 November 2024 at 10:00 pm

The amount of gas flowing to the seven big operating U.S. liquefied natural gas export plants was on track to rise to a nine-month high on Thursday as feedgas to a few plants hit multi-week highs, according to data from financial firm LSEG. The energy market cares about feedgas flows to U.S. LNG plants because …

by hellenicshippingnews… on 14 November 2024 at 10:00 pm

The government today approved separate proposals for procuring some two cargos of LNG, 1,90,000 metric tons (MTs) of fertiliser and 50,000 MTs of wheat to meet the growing demand of the country. The approval was given at the 12th meeting (2024) of the Advisers Council Committee on Government Purchase (ACCGP) held here today at the …

by hellenicshippingnews… on 14 November 2024 at 10:00 pm

Japan’s Ministry of Agriculture, Forestry and Fisheries (MAFF) bought a total of 114,403 metric tons of food-quality wheat from the United States, Canada and Australia in a regular tender that closed on Thursday. Japan, the world’s sixth-biggest wheat importer, keeps a tight grip on imports of the country’s second-most important staple behind rice and buys …

by hellenicshippingnews… on 14 November 2024 at 11:00 am

Japan’s ENEOS Holdings is “overwhelmingly active in procuring spot” crude oil, with the largest Japanese refiner open to purchasing Canadian crude alongside US and South American barrels, should it prove economical, President and CEO Tomohide Miyata said Nov. 13. “As we have a higher-than-expected spot ratio [in our crude procurement], we could do Canadian crude …

by hellenicshippingnews… on 14 November 2024 at 11:00 am

India’s finished steel imports during April-October surged to a seven-year high at 5.7 million metric tons, according to provisional government data reviewed by Reuters. India, the world’s second-biggest crude steel producer, had turned a net importer during 2023/24 and the trend has continued during April-October, the data showed. During April-September, China was the lead exporter …