Freight News

by hellenicshippingnews… on 20 February 2025 at 10:00 pm

Indian refiners have cancelled orders for 70,000 metric tons of crude palm oil (CPO) scheduled for delivery between March and June, because of a surge in benchmark Malaysian prices and negative refining margins in India, four trade sources said. Refiners in the world’s largest importer of palm oil cancelled the quantity over the last three …

by hellenicshippingnews… on 20 February 2025 at 6:00 pm

ArcelorMittal Nippon Steel India is seeking deliveries of liquefied natural gas (LNG) cargoes over a five-year period beginning 2026, two industry sources said on Thursday. The joint venture between ArcelorMittal MT and Nippon Steel 5401 is seeking six cargoes for delivery each year to either the Dahej or Hazira import terminal in a tender that …

by hellenicshippingnews… on 20 February 2025 at 6:00 pm

Russian Industry and Trade Minister Anton Alikhanov on Thursday shrugged off the likely impact of an European Union ban on primary aluminium imports from Russia, the state TASS news agency reported. It cited him as saying that Moscow had itself cut its aluminium supplies to Europe in recent years and would look for other buyers. …

by hellenicshippingnews… on 20 February 2025 at 6:00 pm

Ukraine’s exportable grain surplus in the 2024/25 July-June season is seen at 41.9 million metric tons as of mid-February, Ukrainian Farm Minister Vitaliy Koval was quoted on Thursday as saying. Koval told Interfax Ukraine news agency the volume could include 16.2 million tons of wheat, 22.1 million tons of corn and 2.8 million tons of …

by hellenicshippingnews… on 20 February 2025 at 11:00 am

The world’s largest wheat exporter, Russia, is expected to see a 24.3% year-on-year slump in wheat shipments in the marketing year 2024-25 (July-June) to 42 million mt, amid a sharp drop in local production, grains transporter Rusagrotrans said in the Global Grains and Pulses Forum held in Dubai. Such a sharp decline in shipments from …

by hellenicshippingnews… on 20 February 2025 at 11:00 am

Chinese refiners have stepped up purchases of Brazilian and West African crude as they reorganise sourcing around sanctions and tariff disruptions, and after prices of Middle Eastern grades surged. Tougher U.S. sanctions on Russia and Iran as well as Beijing’s new import tariffs on U.S. oil in response to duties imposed by President Donald Trump, …

by hellenicshippingnews… on 20 February 2025 at 11:00 am

Donald Trump began his second term as the U.S. President bent on bringing Iran to the negotiating table. But not through respect and practical expressions of good will rather, through renewed economic pressure and occasional threats of military action. Analysts consider Trump’s remarks about “bombing the hell out of Iran” unsustainable bravado. Military action against …

by hellenicshippingnews… on 20 February 2025 at 11:00 am

India’s crude import bill rose by 2.7% during the first ten months of FY25, reaching $113.9 billion compared to $110.9 billion in the same period of FY24, according to data from the Petroleum Planning and Analysis Cell. The country imported 200.5 million tonne of crude oil between April and January, marking a 2.7% increase from …

by hellenicshippingnews… on 19 February 2025 at 10:00 pm

Ukrainian corn has secured a few early deals with Vietnam, driven by its enhanced competitiveness against rising prices from the United States and South America. Following the harvest that concluded in early September 2024, several transactions have emerged, signaling a shift in trade dynamics as Vietnam seeks alternatives amid escalating corn costs from traditional suppliers. …

by hellenicshippingnews… on 19 February 2025 at 10:00 pm

European LNG imports fell by 19% in 2024 as gas consumption was at an 11-year low, thanks in part to renewable energy additions. The updated European LNG Tracker from the Institute for Energy Economics and Financial Analysis (IEEFA) reveals that the continent’s 2024 LNG demand dropped to its lowest level since 2021. The European countries …

by hellenicshippingnews… on 19 February 2025 at 10:00 pm

South Korean refiners are confident they can secure ample light sweet US crude throughout 2025, despite India’s strong interest in North American barrels this year. Asia’s third-largest crude buyer is expected to consistently procure around 10 million barrels monthly. Tighter sanctions on Russian crude trades seem to have encouraged Indian state-run refiners and traders to …

by hellenicshippingnews… on 19 February 2025 at 10:00 pm

Brazil has resumed electricity imports from Venezuela after six years to supply its northern Roraima state, in a measure aimed at reducing costs and diversifying the energy supply for consumers. The operation, which received final approval on Tuesday from Brazilian energy regulator Aneel, aims to guarantee another source of energy supply for Roraima, Brazil’s only …

by hellenicshippingnews… on 19 February 2025 at 6:00 pm

The fourth floating production facility to be operated by a consortium led by Exxon Mobil XOM in Guyana has departed from Singapore on its route to the South American country’s waters, according to a company executive and LSEG vessel tracking data. Once the floating production storage and offloading (FPSO) vessel is installed, the consortium plans …

by hellenicshippingnews… on 19 February 2025 at 11:00 am

Saudi Arabia’s monthly crude oil exports fell 1% in December, data from the Joint Organizations Data Initiative (JODI) showed on Tuesday. Crude exports from the world’s largest exporter in December fell 1% to 6.146 million barrels per day (bpd) from 6.206 million bpd in November. Saudi production fell to its lowest since June 2024 at …

by hellenicshippingnews… on 19 February 2025 at 11:00 am

Deliveries of Russian crude to China’s independent refineries remained steady month over month in January, despite the US expanding its sanctions list and the Shandong Port Group banning sanctioned ships, data from Platts, part of S&P Global Commodity Insights, showed Feb. 17. However, the volume is likely to retreat in February as surging freight discourages …

by hellenicshippingnews… on 19 February 2025 at 11:00 am

India’s oil imports from the United States rose sharply in January from December, turning Washington as the fifth largest oil supplier to New Delhi, data obtained from trade sources show. India shipped in 218,400 barrels per day of oil from the U.S. compared to 70,600 bpd in December, the data showed. Refiners in India, the …

by hellenicshippingnews… on 18 February 2025 at 10:00 pm

The US Government has granted a liquefied natural gas (LNG) export licence to the Commonwealth LNG project in Louisiana, marking the first such approval since the pause on LNG exports announced by the previous administration. The global energy market, particularly the Asia and Europe markets, stand to benefit from the decision. Energy Secretary Chris Wright …

by hellenicshippingnews… on 18 February 2025 at 7:30 pm

Australia’s stocks of light distillates — which comprise LPG and gasoline but exclude naphtha — fell 1.5% month over month to 8.998 million barrels in December, amid higher LPG exports, the latest preliminary data from the Department of Climate Change, Energy, the Environment and Water showed. On a year-over-year basis, inventories fell 4% in December. …

by hellenicshippingnews… on 18 February 2025 at 6:00 pm

Kazakhstan will try new crude deliveries to Hungary through Russia’s Druzhba pipeline system in 2025, its energy ministry announced, after receiving Hungary’s foreign minister in Astana to discuss cooperation on oil and gas. A meeting between Kazakh energy minister Almasadam Satkaliyev and Hungary’s foreign minister Peter Szijjarto Feb. 17 focused strongly on developing Kazakhstan’s Rozhkovskoye …