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Farm lobby: Increase in Ukraine rail tariffs will add $3 to $6 per ton to logistic costs
The proposed increase in tariffs of Ukraine's railways monopoly Ukrzaliznytsia could increase the cost of agrarian transportation logistics by $3 to 6 per metric ton, and lead to bankruptcy for some farmers. Ukrzaliznytsia raised freight rates by 37% last year to cover significant increases in fuel, electricity, and equipment repair costs as it tried to deal with the effects from Russian attacks. Farmers and steelmakers have already expressed their opposition to price increases. The railways are essential for the export of grain, metallurgical and other products. Oleg Khomenko, the head of UCAB on Facebook, said: "If this decision is not revised then some farmers may be forced to reduce their production." He claimed that the past two years had been unprofitable for Ukrainian agricultural producers, and that a possible increase in tariffs could mean higher production costs as the majority of Ukrainian grain is shipped through the Odesa port region. (Reporting and editing by Tomaszjanowski, with Pavel Polityuk)
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Starmer: UK tanker crash after-effects'reasonably controlled'
Keir starmer, British Prime Minister said that the aftermath of the tanker crash near the English coast this week was "reasonably contained". Fears of an environmental catastrophe had eased as the focus shifted to the investigation of how the incident occurred. The Solong, a container ship flying the Portuguese flag, collided with the Stena Immaculate on Monday, a tanker anchored that was carrying U.S. Military jet fuel. The collision resulted in huge explosions and fires. Jet fuel was also spilled into the ocean. The tanker is still at anchor, with a huge hole in its side. Meanwhile, the container ship that was badly burned has been stabilized after initial fears of it sinking. Starmer stated that the situation was reasonably contained at the moment. Starmer said that the exact cause has yet to be determined. We have a process, but we need to dig deeper. The initial concerns about an environmental catastrophe have diminished, as preliminary assessments show that the jet fuel has mostly been burned off. There are no other signs of leakage from either ship. After his arrest on February 2, the captain of Solong, a Russian, is still in custody under suspicion of gross negligence. This offence is for situations in which a death occurs as a result of a grossly negligent action or omission. The 36 crew members were also brought to land. In a separate press release, the Marine Accident Investigation Branch of Britain (MAIB), said that it would be leading the safety investigation. It will seek to determine the cause of the accident and prevent similar accidents from happening again. The MAIB stated that it would inspect the two vessels and retrieve the Voyage Data Recorders as soon as it was safe. The MAIB's investigations would also look at "fatigue management", navigational practices, and weather conditions. (Reporting and additional reporting by MuvijaM; editing by Michael Holden.)
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Tunisia receives offers for 100,000 T of soft wheat tender, traders report
Initial assessments by European traders suggest that the lowest price offered at Thursday's international tender for about 100,000 metric tonnes of soft wheat from Tunisia was $268.67 per ton, including freight and cost. No purchase has been made yet, but offers are still being evaluated. If the conditions are not attractive, then it is unlikely that the lowest offer will be accepted. They said that Casillo, a trading house, was thought to have made the lowest offer of 25,000 tons. Viterra, a trading house, offered $268.79 per ton C&F for two consignments of 25,000 tons. The reports reflect the assessments of traders, and it is still possible to estimate prices and volume later. The wheat will be shipped between April 10 and 25 depending on the origin. Michael Hogan reports.
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Singapore's Sembcorp Industries cancels Indonesia gas contract due to regulatory issues
Sembcorp Industries, the Singaporean utilities company, announced on Thursday that it had terminated a gas sales agreement its unit signed for the import of piped natural gas from the Mako fields in Indonesia. The firm cited regulatory hurdles as the reason. The Temasek Holdings firm claimed that it did not receive the regulatory approvals required from Indonesia for the agreement to proceed. Sembcorp said that the move would not impact its energy costs, or its ability meet Singapore's gas needs. It also stated that it will have no material impact on the earnings per share in 2025. Sembcorp will instead use its own natural sources, including liquid natural gas, to meet its needs. Sembcorp Gas Pte, a unit of Sembcorp, signed a contract with three companies in September last year to import PNG up to 111 BTUs per day. West Natuna Exploration, a subsidiary from Indonesia's Conrad Asia and London-listed oil-and-gas explorer Empyrean Energy PLC, as well as energy firm Coro Energy Duyung Pte were the firms. Sembcorp's largest earner, the gas and related services division, reported a 10% decline in its annual profits in early February.
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South Korea's FLC purchases about 65,000 T of corn in a private deal, traders claim
The Feed Leaders Committee of South Korea (FLC) purchased around 65,000 tons of animal feed in a private transaction on Thursday, without holding an international tender. Although it can be purchased worldwide, traders have suggested that the best source would be from South America or the United States. The corn was bought at an estimated cost of $251.80 per ton, including freight. There was also an extra $1.50 surcharge per ton for port unloading. The seller was thought to be ADM, a trading house. Arrival in South Korea was scheduled for around June 15th. The shipment originating from the Pacific Northwest coast of the United States was made between May 1 and 31. The reports reflect the assessments of traders, and future estimates on prices and volume are possible. The deal was a continuation of the brisk purchases of corn by Korean importers following Wednesday's falls in Chicago corn contracts. Michael Hogan is reporting.
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Consultancy says that Ukraine soybean exports reached a record 2,35 million tonnes in the H1 season 2024/25.
APK-Inform, a consultancy for agricultural matters, reported on Thursday that Ukraine's soybeans exports had reached a new record of 2,35 million metric tonnes in the first half 2024/25 season (September-August) following a record harvest. Ukraine produced a record of 6.3 million tonnes of soybeans in the year 2024. This is up from 5.4 millions tons in 2023. The consultancy stated in a report that "according to our estimations, the export capacity in 2024/25 has already been 66% met, and that further shipments may be limited because of the new crop from South America." It noted, however, that demand for Ukrainian crops could remain high despite the global tariff wars escalating. The Ukrainian UCAB Farm Lobby said earlier this season that the country's exportable soybean surplus could total 3.8 millions tons compared to 3.3 million in 2023/24. APK-Inform reported that over one million tons of Ukrainian soya beans were exported to Europe, which was the primary export destination. Last month, Taras Vysotskiy, the first deputy minister of agriculture in Ukraine, said that Ukraine would reduce its soybean area by 10 to 15% for corn. (Reporting and editing by Tomaszjanowski)
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South Korea's NOFI buys estimated 67,000 T corn, traders say
The European traders reported that the leading South Korean animal feed manufacturer Nonghyup Feed Inc., (NOFI), bought approximately 67,000 metric tonnes of animal feed corn on Thursday in an international bid seeking up to 138,000 metric tons. The corn was bought in one consignment for an estimated price of $251.81 per ton, cost and freight included (c&f), plus $1.50 extra per ton to cover additional port unloading. The seller is believed to be CJ International, a trading house. The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later. Around June 30, corn was ordered for delivery to South Korea. Shipping is required between May 28 and 16 if the shipment originates from the U.S. Pacific Northwest Coast, if it comes from the U.S. Gulf coast between May 8 and 27, originating from South America or South Africa between 3 May and 22 May. Only 65,000 tonnes of oil can be sourced from the U.S. Gulf. The traders reported that Asian buyers were interested in buying corn following the sharp fall of Chicago corn futures Wednesday. This was after a U.S. Government crop report revealed more corn stocks than expected. South Korea's Major Feedmill Group has also released a tender up to 140,000 tonnes of feed corn. Korea Feed Association in South Korea bought 65,000 tons in a private transaction late Wednesday night without issuing a international tender. (Reporting and editing by Tomaszjanowski).
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After a slump in profits, port operator DP World has an uncertain outlook for trade
DP World, a Dubai owned ports and logistics firm, reported a 28 percent fall in its annual profit on Friday, partly because of higher finance costs. It also highlighted global trade uncertainty and geopolitical risk as clouding the outlook. DP World announced that the profit attributable by owners after accounting for items separately dropped from $820 to $591 millions a year ago. In a statement, Chairman and CEO Sultan Ahmed bin Sulayem stated that "while the year started on a good note, global trade is still in flux because of ongoing geopolitical issues." DP World's revenue rose by 9.7%, to $20 billion. This was partly due to an improved performance in its ports and terminals division. Revenues in the Middle East and Europe grew by 5.3%, as the United Arab Emirates, Africa and DP World’s European Unifeeder businesses all performed better than expected. However, the Red Sea disruption had a negative impact on Saudi Arabia’s Jeddah Port and DP World’s European Unfeeder business. Yemen's Houthis announced that they will resume attacks against Israeli ships traveling through the Red, Arabian, Bab al-Mandab, and Gulf of Aden. This marks the end of a relative calm period since January. The disruption caused by Houthi attacks on key regional shipping routes has forced companies to travel around southern Africa at a higher cost and longer distance. In solidarity with Palestinians, the Iran-aligned groups has attacked over 100 ships in support of Palestine since November 2023. DP World has plans to invest $2.5 billion in the flagship Jebel Ali Port in Dubai, as well as in other assets such as London Gateway. (Reporting and editing by Sherry Phillips, Rachna uppal, and Federico Maccioni)
Data shows that Russian diesel is still being shipped to Syria by US-sanctioned oil tankers.
Data shows that a second tanker subject to U.S. sanction is moored at the Syrian port Banias, and could deliver a cargo of diesel from Russia. This comes as Moscow and Damascus are strengthening their ties.
Moscow supported former Syrian autocrat Bashar al-Assad for more than 10 years of civil war, but now wants to improve its relations with Ahmed al-Sharaa as it wants to keep the two Russian military bases in Syria.
According to LSEG, the Barbados flagged Proxima with approximately 30,000 metric tonnes of diesel left Primorsk back in February. It is currently drifting near Banias as it awaits to unload its cargo.
On January 10, the Proxima, along with 180 other vessels, was sanctioned by the United States.
The tanker Prosperity arrived last week in Syria's coast waters with about 37,000 tons of diesel that was loaded at the Russian Baltic port Primorsk.
Shipping data shows that both tankers switched off their ship tracking devices upon arrival and hid their operations.
Syria recently received a shipment of local currency that was printed in Russia. More shipments are expected to follow in the near future, another sign of improved relations between Moscow and Syria’s new rulers.
Western countries such as the U.S. and EU, along with Britain, are also easing pressure on Syria. Reporting by in Moscow. (Editing by Sharon Singleton.)
(source: Reuters)