Hoping for the best, fearing the worst: Here comes 2022 From coronavirus variants and Brexit fallout, to rising inflation, political tension and climate change, most of the risks in the...
Daily Briefing Tanker freight derivative trading falls 14% in 2021 | Capesizes pull back on China's steel output slump | Sustainable shipping...
US ports get $240m from government as west coast congestion mounts The announcement came as Long Beach and Los Angeles took temporary measures to manage the congestion mounting on their docks
Gail charters NYK carrier for US imports of LNG Deal comes days after Gail said it may hire another LNG tanker to haul cargoes from the US. The company...
TS Lines expands orderbook at Fujian Mawei with 2,900 teu duo Container shipping line's expansion sees it build up its orderbook to more than 85% of its existing fleet
FEATURE: No rest for weary OPEC+ in nursing the oil market back to full health By October, the OPEC+ alliance is hoping to complete its comeback from the record production cuts implemented in mid-2020, with its plan to gradually raise quotas by 400,000 b/d each month.
Russia expects 2022 oil output to beat pre-pandemic level at 11.045 mil b/d In 2021, Russi's production of crude and condensate will increase by 2.1% on the year to total 524 million mt, or 10.52 million b/d.
OIL FUTURES: Crude pushes to one-month high on easing omicron concerns Crude futures settled at one-month highs Dec. 23 as bullish US economic data further eased concerns surrounding the potential impact of the omicron variant on near-term demand.
SINGAPORE DATA: Middle distillate stocks edge over 1% lower on week Singapore middle distillate stocks slipped 1.43% on the week to settle below the 8-million-barrel mark in the week ended Dec. 22, Enterprise Singapore data released late Dec. 23 showed, reversing gains seen in the previous week as exports outpaced imports.
FEATURE: Middle East in uphill battle to meet net-zero as emissions set to rise in 2022 The Middle East faces an uphill battle to meet net-zero targets as a dependence on natural gas and crude oil in industry will lead to increased emissions over the coming years, according to S&P Global Platts Analytics.
Pakistan's Nov oil product sales rise 2% on year despite price upticks, alternatives for power Pakistan oil product sales rose 2% year on year in November amid an uptick in gasoil consumption, and despite the government cutting back on fuel oil use for electricity production in favor of hydro, coal and nuclear, latest data showed Dec. 24.
ARA fuel oil stocks up 5.0% on week at 1.141 million mt: Insights Global Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp region were up by 5.0% week on week to 1.141 million mt as of Dec. 23, according to data from Insights Global, after dropping 7.0% during the previous week.
China sets fuel oil import limit at 16.2 million mt for 2022, unchanged from 2021 The limit is fixed stable despite the number of companies that are allowed to import in 2022 increased to 117 from 61 in 2021, the release showed.
FEATURE: European biodiesel to navigate climate change targets, feedstock scarcity in 2022 EU member states are committing to meeting carbon reduction targets set out by the amendment to the REDII, called the "Fit for 55" proposal.
Refiners so far commit to taking just 10% of US SPR barrels offered Marathon Petroleum will take 250,000 barrels in an exchange, the Department of Energy said Dec. 23. The refiner joined ExxonMobil, which previously committed to taking 4.8 million barrels.
China may delay 2022 oil product export quota allocation, affecting Jan outflow Beijing controls China's domestically produced oil product exports by quotas.
Supply of high sulfur IFO 380 in Ecuador expected to falter until mid-to-end January Due to land erosion along rivers in the Amazon region, Ecuador's state-led company stopped pumping Dec. 10 in its SOTE (Sistema de Oleducto Transecuatoriano) crude pipeline, with a transport capacity of 360,000 b/d.
FEATURE: Asia's LSFO market set for strong 2022 on China's growth as refueling destination Even though the marine fuels sector has remained relatively more resilient to demand loss from pandemic restrictions than other transportation fuels, industry watchers have said that global demand was stymied by about 10% in 2020 and has only been limping back to near-normal in 2021.
Panama Canal pricing structure could see variable component tied to demand Down the line, ships that aren't compliant with IMO emissions standards also could face additional fees during peak energy demand in the winter.
Singapore-Fujairah delivered 0.5% sulfur marine fuel spread at 14-month high on tight supply Low stockpiles of the International Maritime Organization-compliant grade in Singapore have shored up delivered premiums amid the rising cost of ex-wharf cargoes for term supply in December and January, traders said.
SINGAPORE DATA: Residue stocks edge higher as fuel oil imports rise 37% Fuel oil imports rose to 873,426 mt in the week, despite no cargoes arriving from Europe and Africa, on the back of a 16.36% increase in arrivals from the Americas, including the first shipment from the US in over a month of 76,641 mt.
Singapore marine fuel 0.5%S bunker premium nears 20-month high on tight availability Bunker suppliers are experiencing congestion for loading term parcels as upstream cargo suppliers reserve limited stockpiles of the International Maritime Organization-compliant product for their own barges, in the process delaying barge refueling schedules for downstream ex-wharf buyers, market sources said.
Orient Overseas (International) Limited (OOIL), the subsidiary of the Chinese shipping group COSCO Shipping Holdings that operates containerized maritime transport services with ...
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