Suez buy coke

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Suez buy coke

Petroleum coke shippers have increasingly looked to Panamax and other larger vessels in recent weeks as Supramax vessel availability has tightened, driving rates to month highs. Loading cargoes into larger vessels has allowed coke shippers to move end-of-year inventory while taking advantage of comparatively lower freight rates, as Supramax vessels — a more typical size for the market — have become difficult to secure because of delays in transiting the Panama Canal. This gives shippers more room to potentially turn a profit, as they can offer larger cargoes at slight discounts to Supramax cargoes on a cfr basis. Capesize rates had been significantly cheaper than Supramax a few weeks ago, before shooting up to month highs in late November. Supramax vessels are also harder to come by at the moment, with many ships taking longer voyages through the Suez Canal or around the southern coasts of Africa or South America to avoid congestion at the Panama Canal, which is 'effectively shut for most bulk carriers in the current bidding system,' another shipbroker said. Wait times at the Panama Canal could potentially stretch for months. Shippers also may have been preferring larger vessels in recent weeks in a push to clear inventory, as sellers typically aim to have low inventories at the end of the year for accounting purposes. But larger vessels will remain relatively uncommon for coke transport because not all loading and unloading ports can accept these classes because of draft restrictions, with this trade being mostly seen out of the Mississippi River or US east coast ports. And while some large Indian cement makers can receive these vessels, but not all buyers can accept them. Coke shippers are also dealing with an outage at United Bulk Terminals , a major Louisiana dry bulk facility. And recent attacks on commercial vessels in the southern Red Sea have also made some shipowners warier of the Suez Canal route. The weight of freight, or the cost of freight compared with the total delivered cost of coke in a given market, recently reached the highest levels since early in most fuel-grade coke markets. This could be even more significant in the anode-grade market, where shipping costs are already higher because cargoes are typically smaller sized. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one. Washington, 17 October Argus — Eastern US railroad said it expects that fourth quarter commodity market conditions will be mixed, limiting some freight demand. But the railroad expects 'modest volume growth', supported by a few segments including chemicals and agriculture. But lower locomotive fuel prices and the impact of international coking coal prices, which are linked to export rail contracts, could drive a decrease in total revenue during the fourth quarter. CSX expects to see a carryover of year-over-year momentum in chemicals, agriculture and food, forest products and minerals, while metals and automotive will continue to be challenged. Demand for metals shipments is predicted to soften through the end of the year. Interest in shipments, particularly steel, is soft because of 'sluggish demand, ample supply and low commodity prices', chief commercial officer Kevin Boone said. A weaker-than-anticipated automotive market contributed to the drop in metals demand. Consumer demand for automotive products has been reduced by high retail prices and interest rates, which has led to increased dealer inventories and slower production, Boone said. But CSX expects that an 'interest rate easing cycle will help these markets normalize,' Boone said. Metals and equipment volume fell in the second quarter, primarily because of lower steel and scrap shipments. Shipments of metals and equipment fell by 9pc to about 64, carloads compared with the same three months in Automotive volume dropped in the second quarter because of lower North American vehicle production, CSX said. Automotive traffic fell to , railcars loaded, down by 2pc from the third quarter The outlook for fertilizer shipments is mixed following the third quarter as a decline in long-haul phosphates shipments persisted. Volume was negative, but the railroad was able to haul some profitable spot shipments. Shipments of fertilizer fell to 45, carloads in the third quarter, down by 4pc from a year earlier. CSX expects growth in some market segments. Chemicals freight demand is expected to continue growing following 'consistent, broad strength across plastics, industrial chemicals, LPGs, and waste. That demand helped boost chemicals volume by 9pc compared with a year earlier. Agricultural and food products shipping demand is expected to continue growing, led by demand for grain and feed ingredients from the Midwest for supplies. That follows a third quarter when higher ethanol shipments, as well as increased overall volume helped raise volume by 9pc from the third quarter of CSX expects intermodal growth to continue with the trucking market falling, which would help drive more container freight to rail. Intermodal shipments are goods shipped in containers and trailers between different modes of transportation. The October strike by the International Longshoremen's Association ILA did impact intermodal traffic, but the railroad was pleased with the 'relatively quick short-term solution', Boone said. International intermodal volume during the third quarter rose because of higher east-coast port traffic. Domestic volume was mostly flat. Overall intermodal volume during the quarter increased by 3pc compared with a year earlier. CSX does not expect a major shift in coal volume through the end of the year as coal markets seem relatively stable and utility stockpiles are sufficient, Boone said. Rising natural gas prices are also unlikely to stimulate a 'near-term step-up in volumes'. Export coal demand has been consistent lately, particularly from buyers in Asia. But revenue per railcar for export coal could make a modest single digit drop, as contracts are tied to international coal benchmarks and prices fell earlier this year. Expport coal voume rose to But domestic coal deliveries fell to Rail coal volume fell by 2pc from a year earlier, while revenue dropped by 7pc to mn st. By Abby Caplan Send comments and request more information at feedback argusmedia. Argus Media group. All rights reserved. Houston, 9 October Argus — The quality of some California-origin petroleum cokes has shifted in recent months as an influx of Canadian crude shipping via the TMX pipeline has adjusted refiner's crude slates and displaced imports from Latin America and the Middle East. California's Canadian crude imports from January-July totalled Canadian crude accounted for 9pc of California's crude imports in the first seven months, up from 4pc in the same period the year prior. The state's imports of Canadian crude in June and July, the first two months of full TMX operations, were up nearly fivefold on the year. PBF's Martinez imported , bl of Canadian crude from June-July, more than quadruple the amount in the same two months of of Additionally, the sulphur content of Martinez's Canadian crude imports was significantly higher on the year, averaging 1. At the same time, the refiner also increased sour Ecuadorian crude imports by 95pc on the year. Martinez's crude imports had an average sulphur content of 1. The refinery's coke was recently heard to be reaching more than 2. On the other hand, Phillips 66's Carson refinery's coke quality was recently heard to be around or even below 3pc sulphur, down from its typical 4. Carson's Canadian crude imports' sulphur content in June-July averaged 2. Carson also did not import any sour Saudi Arabian crude in June-July, compared with 2. At the same time, Carson increased purchases of sweet Guyanese crude to 1. But Carson and Martinez's coke sulphur content may soon increase as TMX crude becomes more common on the US west coast, market participants said. This could leave Asian buyers searching for 2pc and 4. By Delaney Ramirez Send comments and request more information at feedback argusmedia. Houston, 7 October Argus — Kinder Morgan is planning to shut its terminals and fuel racks in Tampa, Florida, on Tuesday as the region prepares for Hurricane Milton to make landfall Wednesday evening. The terminals handle a wide range of bulk products including fertilizers, scrap metal, petroleum coke and coal according to Kinder Morgan's website. Kinder's Tampa refined products terminal has 1. The airport said today that it will cease operations the morning of 9 October in advance of the hurricane. By Nathan Risser Hurricane Milton projected path Send comments and request more information at feedback argusmedia. A market participant said the Kirkuk cargo was shipped from a Mideast Gulf loading point. A political stand-off since March has meant northern Iraq crude cannot be supplied into the Mediterranean region via the pipeline from Kirkuk to Ceyhan, southeast Turkey. The switch to the bitumen-rich crude, after lighter grades had been run through Pancevo in recent months, has also allowed Nis to restart its polymer-modified bitumen PMB manufacturing plant at Pancevo this week. The higher quality grade, which is produced by adding polymers like styrene-butadiene-styrene SBS in the initially produced bitumen mix, is increasingly used on some road, highway and airport projects. Nis plans to run another bitumen-yielding Iraqi crude, Basrah Medium, along with Kirkuk this month, helping significantly boost bitumen production for supply into the country's domestic and export markets — mainly Romania and Bosnia-Herzegovina. The heavier crudes will yield very high-sulphur grades of petcoke, the market participant said. By Keyvan Hedvat Send comments and request more information at feedback argusmedia. Washington, 30 September Argus — Some railroad operations in the southeastern US have resumed in the aftermath of Hurricane Helene, but major carriers warn that some freight may be delayed while storm-damaged tracks are repaired. Rail lines in multiple states were damaged after Hurricane Helene made landfall on the northeastern Florida coast on 26 September as a category 4 storm and traveled northwards as a downgraded but still dangerous storm into Georgia, Tennessee, and the Carolinas. The storm left significant rain and wind damage in its wake, including washed-away roads, flooded lines, downed trees and power outages. Norfolk Southern said it had made 'significant progress' towards its recovery with most major routes back in service including its Chattanooga, Tennessee, to Jacksonville, Florida, line as well as its Birmingham, Alabama, to Charlotte, North Carolina route. Norfolk Southern said freight moving through areas that are out of service could 'see delays of 72 hours'. Several of Norfolk Southern's other routes remain out of service, including rail lines east and west of Asheville, North Carolina, because of historic levels of flooding. There are multiple trees to remove along a mile stretch from Macon, Georgia, to Brunswick, Georgia. And downed power lines are keeping the railroad's lines from Augusta, Georgia, to Columbia, South Carolina, and Millen, Georgia, out of service. CSX said 'potential delays remain' but did not provide specifics. However, the railroad said it had made 'substantial progress' in clearing and repairing its network. The railroad's operations in Florida have mostly reopened, as have rail lines in its Charleston subdivision, which crosses South Carolina and Georgia. A portion of the line running from Erwin, Tennessee, to Spartanburg, South Carolina, has been cleared, but CSX said 'a long-term outage' is expected for other parts of the rail line. Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. Related news posts Argus illuminates the markets by putting a lens on the areas that matter most to you. Business intelligence reports Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. Learn more.