Vietnam set to slash sweet crude exports as low prices hurt output and sales

Southeast Asian sweet crude market may witness spot cargo volumes decline sharply over the coming trading cycles as Vietnam plans to slash production and exports with state-run PetroVietnam finding crude sales unprofitable amid plunging oil prices. Vietnam is one of the major regional crude...

https://www.hellenicshippingnews.com/vietnam-set-to-slash-sweet-crude-exports-as-low-prices-hurt-output-and-sales/

Competition to export Mexican LNG using US shale gas faces test in current market

During any other market cycle, Mexico Pacific Limited’s proposal to build an up to 12 million mt/year liquefaction terminal would seem a no-brainer. Its proposed port on Mexico’s West Coast allows for a shorter shipping route to Asia than from the US Gulf Coast and the ability for tankers to...

https://www.hellenicshippingnews.com/competition-to-export-mexican-lng-using-us-shale-gas-faces-test-in-current-market/

Hapag-Lloyd increases rates from East Asia to US & Canada

Hapag-Lloyd increases rates from East Asia to US & Canada

Hapag-Lloyd will implement the following General Rate Increase (GRI) in the eastbound trade from East Asia to all United States and Canada destinations as of 1 May 2020 (date of cargo receipt at origin).

This General Rate Increase will apply for all dry, reefer, non-operating reefer, tank, flat rack and open-top containers as follows:

East Asia to North America (US and Canada)

  • US$ 560 per all 20′ container types
  • US$ 700 per all 40′ container types

East Asia is defined as being the...

https://container-news.com/hapag-lloyd-increases-rates-from-east-asia-to-us-canada/

GSPC, GAIL issue force majeure notices on prompt LNG cargoes, say sources

Indian state-owned entities GSPC and GAIL issued Force Majeure notices to their suppliers of March-April delivery cargoes to Dahej, Mundra and Dabhol LNG terminals due to operational constraints after the country was put under a 21-day lockdown from Tuesday to contain the coronavirus outbreak,...

https://www.hellenicshippingnews.com/gspc-gail-issue-force-majeure-notices-on-prompt-lng-cargoes-say-sources/

Shell, other oil companies seek less Saudi crude in April due to weaker demand -sources

Several European and Nordic oil refiners are taking less crude from Saudi Arabia in April, industry sources said, suggesting a lack of demand for the extra supplies the country has offered as it seeks to boost market share. The world’s top oil exporter is planning to boost exports sharply after a...

https://www.hellenicshippingnews.com/shell-other-oil-companies-seek-less-saudi-crude-in-april-due-to-weaker-demand-sources/

India lockdown: Indian gasoline exports to put North Asian suppliers in jeopardy

India’s decision on Tuesday to lock down over a billion of its people could pose a grave threat to South Korean and Chinese gasoline exporters as a potential downfall in South Asia’s motor fuel demand would lead to excess Indian supplies flooding the Asian market. The lockdown, which started at...

https://www.hellenicshippingnews.com/india-lockdown-indian-gasoline-exports-to-put-north-asian-suppliers-in-jeopardy/

APL applies surcharge in Kolkata due to COVID-19 quarantine

APL applies surcharge in Kolkata due to COVID-19 quarantine

Due to the current COVID-19 situation, Kolkata port has imposed a 14-day quarantine on vessels entering from both Singapore and Malaysia according to American President Lines (APL). This means that vessels are not allowed to enter Kolkata port within 14 days of leaving Singapore and Malaysia. Consequently, after taking into account the sailing period from Singapore/ Malaysia to Kolkata, vessel operators have to wait for approximately 10 days before taking on pilot.

APL has announced it will...

https://container-news.com/apl-applies-surcharge-in-kolkata-due-to-covid-19-quarantine/

China’s purchase of US soybeans spike in Jan-Feb under phase one deal

China bought 6 million mt of soy from the US in the first two months of 2020, up 500% year on year as it ramped up purchases under its phase one trade deal commitments, while purchases of Brazilian beans were down 26% to 5.14 million mt, Chinese customs data showed Wednesday. Under the phase one …

https://www.hellenicshippingnews.com/chinas-purchase-of-us-soybeans-spike-in-jan-feb-under-phase-one-deal/