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China’s crude oil imports from the US in January increased to 61K b/d, Reuters reports, citing China Customs data. The total volume for January was equivalent to more than half of China’s crude oil imports from the US in the whole of 2016. Higher demand from Chinese independent refiners amid an open arbitrage were noted as factors for the ...Read More
In its latest Grain Markets Report, the International Grains Council (IGC) has made a number of revisions to its forecasts for global wheat trade in 2016/17 (Jul-Jun). Following a slower pace of shipments, projected EU and Russian grain exports have been cut by 0.6 Mt and 0.5 Mt, to 25.3 Mt and 28.0 Mt, respectively. By contrast, forecast Ukrainian exports have been lifted by 0.7 Mt to 15.7 Mt. There have also been upgrades to expected Argentine (+0.4 to 9.1 Mt) and US (+1.2 to 26.9 Mt) shipments, with the latter now forecast at a three-year ...Read More
Chinese iron ore imports from Australia rose to a four-month high of 57.3 Mt in January, up 7.2 Mt year-on-year, customs data show. By contrast, there was a small 0.6 Mt drop in imports from Brazil, to 18.4 Mt, although shipments from the two combined still accounted for over 82% of China’s January iron ore imports. Meanwhile, Chinese imports of Indian iron ore continued their resurgence in January, climbing 2.6 Mt to a four and a half year high of 3.4 ...Read More
China’s diesel exports in January declined by 196K b/d (or almost 50%) from December’s record volume to an 11-month low of 229K b/d, according to data from China’s General Administration of Customs. However, this was still up by 55K b/d y-o-y. Gasoline exports dipped by 98K b/d m-o-m to an 11-month low of 163K b/d, but were up marginally ...Read More
US crude oil inventories increased by 0.6M bbls w-o-w to a second-consecutive weekly record high of 518.7M bbls in the week ending 17 February, according to the US Energy Information Administration (EIA). US crude refinery throughputs dipped by 187K b/d to 15.3M b/d, the lowest since October 2015. US crude imports dropped by 1.2M b/d from the prior week to 7.3M ...Read More
German GDP Growth in 2016
German GDP growth slowed to 1.2% year-on-year in the 4q16, down from 1.5% in the 3q16, according to the country’s statistics office. Nevertheless, full year data showed GDP grew by 1.9% in 2016, the strongest rate of growth in five years.
Canada’s imports of US oil in 2016 dropped by 110K b/d y-o-y to average 363K b/d, the first time that Canada’s oil imports from the US have dropped since 2010, Argus reports, citing data from the country’s National Energy Board. The US lifting a ban on crude oil exports in December 2015 (which Canada was already exempt from) and a narrowing discount of WTI to Brent, which helped to make crudes from outside the Americas more attractive, were noted as factors in the ...Read More
Mumbai Refinery Set To Undergo Maintenance
BPCL’s 240K b/d Mumbai refinery is set to begin 40 days of planned maintenance by the end of this week, ICIS reports.
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
ICS Canada Conference
Simpson Spence Young's Head of Research, John Kearsey, was one of the speakers at the Annual Dry Bulk & Commodities Conference in Vancouver, which was organised by the Institute of Chartered Shipbrokers on 18 November.
November's edition of the SSY Monthly Shipping Review includes a feature on the new IMO rules for bunker fuels, which could have major implications for charter and Sale & Purchase markets, as well as fleet developments. For details on how to subscribe to the report, please contact Read More
Organised by the Korean Register, this annual conference in Busan on 20 October included a keynote address on the dry bulk shipping markets from John Kearsey, Head of Research at Simpson Spence Young. In his presentation, Mr Kearsey highlighted this year's strength in dry bulk trade and raw material prices, but cautioned that further demolition is required to boost the freight market's recovery ...Read More