Links to previous press releases are below. We welcome bona fide press enquiries, please email for further information
Mexico’s Gasoline and Diesel Imports Rise To 3-Month High
Mexico’s combined gasoline and diesel imports in May increased by 54K b/d m-o-m and 43K b/d y-o-y to a 3-month high of 685K b/d, supported by a higher intake of the former, Pemex data shows. In the year-to-date, imports have averaged 719K b/d, up by 139K b/d from the same period in 2016.
Mexico’s Crude Exports Fall To Record Low
Mexico’s crude oil exports in May dropped by 59K b/d m-o-m and 246K b/d y-o-y to a record low of 958K b/d, according to data from state-oil firm Pemex. During the first 5 months of 2017, exports have averaged 1.06M b/d, down by 86K b/d y-o-y.
Chinese Hot Rolled Band Price Rises
The Chinese domestic price for hot rolled band has climbed to the highest level since late-March at $425/t, up by $12/t week-on-week, according to World Steel Dynamics. Nevertheless, this remains below the year-to-date high of $474/t achieved in the 1q17.
Nigeria’s crude oil exports in August are expected to rise to 2.02M b/d, the highest since March 2016, Reuters reports, citing loading schedules. The current schedule compares with an initial plan for July of 1.84M b/d. However, loading delays on Bonga, Bonny Light (which is also under force majeure) and Qua Iboe crude have reportedly led to several of the July cargoes being moved into the August ...Read More
South Korea’s naphtha imports in the first 4 months of 2017 have risen by 29K b/d y-o-y to 533K b/d, according to data from the Korea Energy Economics Institute. In contrast, imports of fuel oil dropped by 36K b/d y-o-y to an average of 117K b/d, the lowest volume for the first 4 months of a year since ...Read More
Vietnam’s Crude Exports Rise To 15-Month High
Vietnam’s crude oil exports in May increased by 34K b/d m-o-m and 16K b/d y-o-y to 162K b/d, the highest since February 2016, data from Vietnam Customs shows. However, in the year-to-date crude exports are down 14K b/d y-o-y at an average of 132K b/d.
US crude oil inventories fell by 2.45M bbls w-o-w to 509.10M bbls in the week ending 16 June, according to the US Energy Information Administration (EIA). US gasoline stocks also decreased w-o-w, with inventories down by 578K bbls. However, US distillate stockpiles grew by 1.08M bbls from the prior week to 152.50M bbls, the highest since March. US crude refinery throughputs were down by 104K b/d w-o-w (but up by 647K b/d y-o-y), while US crude imports fell by 149K b/d w-o-w to 7.88M ...Read More
Annual growth in world crude steel production slowed to 2.0% in May, down from 5.0% in April, according to the World Steel Association. However, at 143.3 Mt, output was still close to the record 143.5 Mt achieved in March.
Major steel producers China (+1.8% to 72.3 Mt), Japan (+0.1% to 9.0 Mt), and the US (+0.2% to 7.0 Mt) all saw much slower production growth in May, while output in Germany (-1.4% to 3.8 Mt) and South Korea (-2.7% to 5.7 Mt) contracted. Nevertheless, at 694.9 Mt, global crude steel production in January-May was still up by 4.7% on the same period in ...Read More
Duncan Dunn of SSY Futures and John Kearsey of SSY Consultancy & Research were both speakers at this annual conference, which was organised by Metal Bulletin and held in Prague on 6-7 June. Mr Dunn was among the panelists discussing the iron ore derivatives market, while Mr Kearsey spoke on the outlook for iron ore freight ...Read More
Busan Financial Hub Convention
SSY's Head of Research, John Kearsey, was a speaker at this conference held on 1 June, where the focus was on International Marine Finance. Mr Kearsey's paper examined the relationship between economic and shipping cycles.
The first futures contract based on a Baltic type 58kt Supramax priced from a basket of ten time charter routes has been traded with SSY Futures Ltd acting as broker.
London: Friday April 7th, 2017: Simpson Spence Young, the world’s largest independent shipbroker, has today confirmed that its derivatives broking subsidiary, SSY Futures Ltd has arranged the first futures contract in the new Supramax time charter average contract, priced against a basket of ten of The Baltic Exchanges new Supramax indices.
The trade was cleared via Nasdaq OMX and involved units of well-known FFA market participants Cargill and Louis Dreyfus.
SSY’s veteran FFA broker and Supramax specialist Jeff Brown said; “We are delighted to have concluded this first transaction in the new Supramax contract and are grateful to Cargill and Louis Dreyfus for their support. It is important to the freight industry to keep our indices up to date and relevant to the underlying markets, the new contract achieves this extremely well. We are confident of further support from the market as this new contract finds traction.”
Forward Freight Agreements (FFAs) are used by freight market participants to mitigate shipping price risk. The Baltic Exchange is the world’s leading publisher of Freight Market Data, FFAs settle against their indices and are cleared by several of the world’s leading exchange groups, including SGX, LCH Clearnet and Nasdaq ...Read More
New portal provides shipping professionals with 24/7 online access to data, research, information and analysis
London: Friday December 9th, 2016: Simpson Spence Young, the world’s largest independent shipbroker, has today launched a subscription based information portal which provides 24x7 online analysis of the fast changing shipping and commodity markets.
The new service, called ‘Premier Club’, has three different annual subscription levels based on the depth of information required. Gold membership is $5,000, Silver $2,500 and Bronze $1,000. Premier Club is run by Simpson Spence Young’s respected 12-person consultancy and research department headed by John Kearsey.
Buying an annual subscription gives members immediate online access to reports, presentations and key data on the dry bulk, tanker, chemical and gas carrier sectors. Gold members can additionally correspond directly with Simpson Spence Young’s analysts in Europe and Asia via an ‘Ask the Analyst’ facility.
Commenting on the launch Simpson Spence Young Vice Chairman Mark Richardson said: "We have invested in this online portal so as to provide our customers and shipping professionals with the very best information and analysis at their fingertips. Premier Club membership will improve information flow and ultimately enhance decision making.”
To subscribe to Premier Club please visit: Read More