Fuel Oil

Mexican export cuts and a rerouting of Canadian output are shrinking currently limited supplies of heavy crude in the Atlantic basin, increasing refiners' expenses with a likely knockon impact to industries ranging from shipping and construction to Middle Eastern power plants. Extended OPEC supply cuts and worldwide sanctions on Venezuela, Iran and Russia had already caused shortages of heavier crude, with the complex refineries developed to process it, such as those in the U.S. Gulf, struggling to discover low-cost products. Heavy-sour crudes yield more recurring fuel oils that are either upgraded into higher-value roadway fuels, or converted into marine fuels...

The Baltic Exchange's dry bulk sea freight index edged up on Wednesday, buoyed by an uptick in capesize and panamax vessel rates. * The general index, which factors in rates for capesize, panamax and supramax shipping vessels, ticked as much as 1,683. * The capesize index acquired 16 points, or 0.8% to 2,116. The index was still hovering around a 3-month low. * Average everyday profits for capesize vessels, which usually carries 150,000-ton freights of iron ore and coal, among others, increased $138 to $17,553. * Freight injections have actually been low, and the outlook for future demand remains unpredictable,...

The Baltic Exchange's main sea freight index, tracking rates for ships bring dry bulk products, succumbed to the fourth consecutive session on Thursday, pressed by lower rates for the larger vessel sectors. * The total index, which consider rates for capesize, panamax and supramax shipping vessels, fell by 31 points, or 1.8%, to 1,743 points. * The capesize index shed 115 points, or 4.9%, to 2,230, marking it least expensive level considering that April 10. * Average daily revenues for capesize vessels, which typically transports 150,000-ton freights such as iron ore and coal, decreased by $950 to $18,495. * The...

The following are the top stories in the Financial Times. has not validated these stories and does not guarantee their precision. Headlines - Schroders introduces look for successor to chief executive Peter Harrison - KPMG UK cancels foreign graduate job uses after tighter visa rules - UK enforces sustainable fuel targets on airlines - Prada and Burberry amongst Matchesfashion creditors owed 36 million stg Summary - Schroders has actually begun a look for a successor to its chief executive Peter Harrison, who is preparing to retire as in charge of the UK's largest asset supervisor after 8 years. - KPMG...

The Baltic Exchange's dry bulk sea freight index, tracking rates for ships bring dry bulk commodities, declined for a 3rd successive session on Wednesday, weighed down by weaker rates for the capesize vessel sector. * The total index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by 30 points, or 1.7%, to 1,774 points, its most affordable level since April 15. * The capesize index shed 113 points, or 4.6%, to 2,345. The index was down for a fourth straight session. * Average everyday earnings for capesize vessels, which typically transfers 150,000-ton freights such as iron...

Air New Zealand on Monday signed its largest deal for sustainable air travel fuel (SAF),. with Finlandbased petroleum refiner Neste, in a bid. to decarbonize and meet its netzero carbon emission targets. The deal involves the purchase of nine million liters of the. green fuel, which will be produced at Neste's Singapore refinery. and supplied to Los Angeles International Airport between April. 1 and Nov. 30, 2024, the airline stated in a statement. The choice comes weeks after Air New Zealand sought out. startups in the SAF sector to become its supply partner. The SAF is expected to deliver a...

Greenpeace activists painted slogans on an Estonianowned tanker in the middle of the Baltic Sea on Friday, and stated the ship supplied bunker fuel to vessels carrying Russian oil that positioned a danger to the environment and would sustain conflict. Oil fuels war, the campaigners, who showed up in little boats, scrawled in large white letters on the side of the Zircone tanker, photos provided by Greenpeace revealed. The vessel, sitting in international waters off the Swedish island of Gotland, has supplied fuel to more than 50 oil tankers travelling to or from Russian ports in the last two months,...

Ukrainian drones assaulted Taneco, Russia's third largest oil refinery, on Tuesday about 1,300 km ( 800 miles) from the cutting edge, hitting a core system which procedures about 155,000 barrels daily (bpd) of crude. As of the end of March, around 14% of Russia's main oil refining capability had been knocked out by Ukrainian drone attacks, according to calculations. Which refineries have actually been targeted, what damage have they sustained and what do they produce? TANECO A fire broke out at the refinery and was extinguished within 20 minutes, state news firm RIA said. Production has not been interfered with,...

The Baltic Exchange's primary sea freight index dropped to a onemonth short on Tuesday, dragged down by weakness across all vessel sections. * The overall index, which factors in rates for supramax, capesize and panamax shipping vessels, fell by 134 points, or 6.3%, to 1,989 points, its lowest level considering that Feb. 27. * The capesize index lost 331 points, or 10.1%, at 2,964, down for the sixth straight session. * Average day-to-day incomes for capesize vessels, which normally carries 150,000-ton cargoes such as iron ore and coal, reduced by $2,745 to $24,580. * Iron ore futures rates fell, amidst...

The Baltic Exchange's dry bulk sea freight struck a more than three-month high up on Monday on robust demand across all vessel segments. * The general index, which factors in rates for panamax, capesize and supramax shipping vessels, gained 45 points, or 1.9%, to 2,419 points. * The capesize index was up by 70 points, or 1.74%, at 4,089. * Average everyday earnings for capesize vessels, which typically transports 150,000-ton freights such as iron ore and coal, increased by $579 to $33,911. * The panamax index got 64 points, or 2.9%, to 2,298 points, rising for the fifteenth straight session....

The Baltic Exchange's main dry bulk sea freight index extended declines on Thursday to publish its worst week considering that early January, pressed by weaker rates across all segments. * The total index, which factors in rates for capesize, supramax and panamax shipping vessels, fell by 24 points, or 1.3%, to 1,821 points, its least expensive level considering that Feb. 22. The index registered its second straight weekly decline. * The capesize index lost 1 indicate 2,637 and has slipped over 24% for the week. * Average everyday profits for capesize vessels, which typically carries 150,000-ton cargoes such as iron...

The Baltic Exchange's dry bulk sea freight index rose to a more than twoweek high on Friday, topping off a strong week with rising rates throughout all vessel sections. * The total index, which consider rates for panamax, capesize and supramax shipping vessels, increased by 39 points, or 2.3%, to 1,729 points, it greatest level since March 28. * The index was up over 6% for the week. * The capesize index got 77 points, or 3.1%, to 2,552. It logged a weekly rise of over 12%. * Typical day-to-day incomes for capesize vessels, which normally transports 150,000-ton freights such...

The Baltic Exchange's dry bulk sea freight index rose to more than a week high up on Thursday, supported by gains in the larger vessel sector. * The general index, which consider rates for capesize, panamax and supramax shipping vessels, added 86 points or 5.1% to 1,774, hitting its highest level since April 23. * The capesize index acquired 256 points, or 12.1% to 2,372. * Typical daily earnings for capesize vessels, which normally transports 150,000-ton freights of iron ore and coal, among others, increased $2,117 to $19,670. * Iron ore and steel futures fell in the middle of risk-off...

Iran will discharge about $50. million worth of crude from a Marshall Islandsflagged tanker. taken in 2015, the semiofficial Fars news agency reported on. Wednesday, in a titfortat action against the United States. Advantage Sweet is a Suezmax crude tanker that had actually been. chartered by U.S. firm Chevron and was taken in April. 2023 by Iran's army following an alleged accident with an. Iranian boat. The unloading of the freight follows a Tehran court order in. favour of Iranian clients of Epidermolysis Bullosa (EB), an uncommon. skin disease, who had filed a lawsuit against the extreme. physical and psychological...

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, succumbed to a ninth straight session on Tuesday to a. near sixweek low as rates fell across vessel segments. * The overall index, which consider rates for. capesize, panamax and supramax shipping vessels, fell by 107. points, or 5.9%, to 1,714 points. * The capesize index lost 243 points, or 9.2%, at. 2,394, its least expensive level in nearly two months. * Typical everyday earnings for capesize vessels,. which usually transfers 150,000-ton freights such as iron ore. and coal, decreased by $2,014 to $19,852. While...

The Baltic Exchange's main sea freight index fell for a second straight session on Wednesday, pressured by losses in the bigger capesize and panamax vessel sections. * The total index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 108 points, or 4.5%, to 2,284 points. * The capesize index was down by 300 points, or 7.5%, at 3,690, its least expensive level because Feb. 28. * Average everyday incomes for capesize vessels, which typically transports 150,000-ton freights such as iron ore and coal, decreased by $2,492 to $30,601. * The capesize index was the sole segment...

The Baltic Exchange's dry bulk sea freight index slipped on Tuesday as weaker capesize rates outweighed gains in smaller vessel sections. * The total index, which factors in rates for panamax, supramax and capesize shipping vessels, lost 27 points, or 1.1%, to 2,392 points. * The capesize index was down by 99 points, or 2.4%, at 3,990. * Average everyday revenues for capesize vessels, which normally transfers 150,000-ton cargoes such as iron ore and coal, decreased by $818 to $33,093. * Iron ore futures extended gains, amid growing interest for stockpiling in leading customer China in part stimulated by the...

Genevabased trading house Montfort Group remains in conversation to offer part or all of its refining center in the United Arab Emirates to the fuel oil arm of Chinese state huge Sinopec Corp, at least five market sources informed . If reached, an offer would provide Sinopec, the world's most significant refiner by capability, a stronger foothold in the UAE's Fujairah market, which it got in 2015 amidst plans to broaden its worldwide presence in the marine fuel market. Sinopec is thinking about investment in the refining facility as it looks for to broaden its sales at the world's third-largest...

The Baltic Exchange's dry bulk sea freight index extended gains on Wednesday to hit an almost twomonth high, supported by rising rates throughout all vessel sections. * The overall index, which consider rates for supramax, panamax and capesize shipping vessels, was up 142 points, or 7.5%, at 2,041 points, its greatest since Jan. 5. * The capesize index acquired 372 points, or 11.5%, to 3,596, an over 7 week-high. * Typical day-to-day incomes for capesize vessels, which usually transports 150,000-ton freights such as iron ore and coal, increased by $3,086 to $29,832. * Dalian iron ore futures rates extended gains,...

The Baltic Exchange's dry bulk sea freight index edged approximately a sevenweek high on Monday, buoyed by climbing rates in the capesize and supramax sectors. * The total index, which consider rates for panamax, capesize and supramax shipping vessels, was up 5 points, or 0.3%, at 1,871 points, its greatest considering that Jan. 9. * The capesize index got 18 points, or 0.6%,. to 3,163. * Typical day-to-day revenues for capesize vessels,. which typically transfers 150,000-ton cargoes such as iron ore. and coal, increased by $154 to $26,233. * Iron ore futures tumbled to their lowest level in 4. months...