Freight News

by hellenicshippingnews… on 10 March 2025 at 11:00 am

Freight rates for shipments of Russian Urals oil from the Baltic and Black Sea ports to India rose to their highest levels since March 2024 following U.S. sanctions on tankers involved in Moscow’s energy exports, trading and shipping sources as well as Reuters calculations showed. An expected increase in oil exports from the Russian ports …

by hellenicshippingnews… on 10 March 2025 at 11:00 am

Indian state refiner Bharat Petroleum Corp BPCL plans to float a 4-month tender next week to buy U.S. West Texas Intermediate (WTI) crude, a person familiar with the matter said on Friday, as it eyes cheaper oil from the world’s top producer. The refiner will be seeking one million barrel of WTI every month for …

by hellenicshippingnews… on 10 March 2025 at 11:00 am

India’s first crude import deal with Argentina in eight years is set to pave the way for more purchases from the South American nation, as both countries intensify talks to boost energy ties, with New Delhi increasingly eyeing new and non-OPEC suppliers to expand its sourcing network. Indian Petroleum Minister Hardeep Singh Puri recently held …

by hellenicshippingnews… on 9 March 2025 at 10:00 pm

China’s imports of major commodities got off to a weak start in 2025, continuing the recent softening trend amid concern over growth momentum in the world’s second-biggest economy. Imports of crude oil, natural gas, iron ore and copper all declined in the first two months of the year compared with the same period last year, …

by hellenicshippingnews… on 9 March 2025 at 10:00 pm

The US exported around 22.67 Bcf of LNG to the region in February, up from 10.74 Bcf in January. February exports were nearly 8% lower than the 24.63 Bcf exported in February 2024 but 326% higher than the 5.32 Bcf exported in the same month in 2023—the lowest level of US exports to the region …

by hellenicshippingnews… on 9 March 2025 at 10:00 pm

South Korea’s tariff rate on US goods is close to zero, trade ministry officials said over March 5-6, reassuring the international physical oil market that WTI Midland cargo flows to Asia’s third-largest crude importer would continue to flourish after US President Donald Trump’s recent claim about high Seoul tariffs. In a March 4 address to …

by hellenicshippingnews… on 9 March 2025 at 6:00 pm

China’s unwrought copper imports declined by 7.2% year-on-year to 837,000 metric tons in the first two months of 2025, customs data on Friday showed, due to increased domestic smelting capacity that reduced the need for additional imports. Copper prices, both in China and globally, rose following U.S. President Donald Trump’s tariff threats. The data includes …

by hellenicshippingnews… on 9 March 2025 at 6:00 pm

The focus in the West African market remained on shifting unsold March cargoes with offers of April-loading Angolan and Nigerian crude still in short supply. Less than 10 cargoes of all West African grades remain available for March, of which most are Nigerian grades. Earlier this week, traders viewed value for Nigerian Forcados at dated …

by hellenicshippingnews… on 7 March 2025 at 10:00 pm

China’s iron ore imports in the first two months of 2025 fell by 8.4% from the same period a year earlier, curbed by weather-related supply disruption in major producer Australia. The world’s largest iron ore consumer brought in 191.36 million metric tons of the key steelmaking ingredient during January and February, customs data showed on …

by hellenicshippingnews… on 7 March 2025 at 10:00 pm

China’s coal imports rose 2.1% year-on-year to a record high for the January-February period, official data showed on Friday, as arbitrage opportunities remained open, but risks grew for imports in the months ahead. China publishes data for the two months in a combined release to smooth out the impact of the Lunar New Year, which …

by hellenicshippingnews… on 7 March 2025 at 10:00 pm

U.S. exports of crude oil to India last month climbed to their highest in over two years, ship tracking data showed, as refiners in the country sought alternative supplies following tighter U.S. sanctions on Russian producers and tankers. The U.S. exported about 357,000 barrels per day (bpd) of crude to India, the world’s third-biggest oil …

by hellenicshippingnews… on 7 March 2025 at 10:00 pm

China’s crude oil imports fell 5% in the first two months of 2025 versus year-ago levels, data showed on Friday, as tougher U.S. sanctions on ships carrying Russian and Iranian oil and a Chinese port ban slowed flows into the world’s top importer. Imports during January and February were 83.85 million metric tons, or about …

by hellenicshippingnews… on 7 March 2025 at 6:00 pm

State-run Indian Oil Corp (IOC) has issued a tender seeking liquefied natural gas (LNG) cargoes for delivery through to 2029, two industry sources said on Friday. It is seeking three cargoes for delivery in 2025, and six cargoes a year from 2026 to 2029. The tender closes on March 21, said one of the sources. …

by hellenicshippingnews… on 7 March 2025 at 6:00 pm

Copper miner Freeport Indonesia may get an export quota of around 1 million metric tons of copper concentrate, Energy and Mineral Resources Minister Bahlil Lahadalia told reporters on Friday. The government has issued a regulation allowing exports of raw minerals under force majeure conditions, and such a quota will be valid for six months after …

by hellenicshippingnews… on 7 March 2025 at 11:00 am

The Black Sea wheat market is currently facing pressures from cautious buyers who are holding off on purchases, anticipating further price declines to offset the increases seen since the start of the year. Since January, export prices for Russian 12.5% wheat have surged, peaking at FOB $254/mt last week. However, since then, prices have decreased …

by hellenicshippingnews… on 7 March 2025 at 11:00 am

India’s edible oil imports in February plunged to their lowest level in four years due to a fall in soyoil and sunflower oil imports, although palm oil imports improved from their lowest level in nearly 14 years, hit in January, five dealers said. Lower-than-normal imports for the second straight month have depleted stocks in the …

by hellenicshippingnews… on 7 March 2025 at 11:00 am

Israel’s natural gas exports to Egypt and Jordan surged by about 13.4% in 2024, despite the country’s war with Palestinian militant group Hamas in Gaza, Israel’s energy ministry said. The jump “demonstrates that Israel’s natural gas industry is a strategic asset, contributing to regional stability” and security, Energy Minister Eli Cohen. Israel is positioning itself …

by hellenicshippingnews… on 6 March 2025 at 10:00 pm

Indonesia is expected to export 27.5 million metric tons in 2025, a decline of 6.9% from last year, its biggest palm oil industry group, the Indonesia Palm Oil Association (GAPKI), said on Thursday. The world’s biggest exporter of the commodity is struggling to boost production of the versatile vegetable oil as its trees age, at …