Asia’s High Sulphur Fuel Oil benchmarks were range-bound on Wednesday, while more tenders were underway for cargoes loading in July. Kuwait’s KPC offered two spot cargoes of 380-cst HSFO for loading between July 19-20 and July 26-27. The tender closes on Wednesday,...

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Stockpiles of oil products at the UAE’s Port of Fujairah dropped to a nine-month low as of July 1, with heavy distillates used for power generation and ship fuel at the lowest in 12 weeks, according to Fujairah Oil Industry Zone data. Total inventories declined 7.1%...

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Large scale route diversions as a consequence of the Red Sea/Suez Canal crisis have seen deadweight demand for crude and product tankers increase by 5.5% and 4.5% respectively in 2024. In its Q2 2024 report, MSI finds that the market is currently in an unfamiliar...

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The freight rate for the key West Africa-UK/Continent Suezmax run, exclusive of EU Emissions Trading Scheme costs, dropped below the psychological level of w100 on July 2, with sources pointing to a seasonal decrease in demand and a well-stocked tonnage list in the...

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The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, snapped its five-session gaining streak on Wednesday, weighed down by lower rates across all vessel segments. The overall index, which factors in rates for...

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Folk Maritime Services Company, a PIF company and one of the region’s leading feeder and short-sea services provider, has signed a strategic memorandum of understanding with Bahri Ship Management, a subsidiary of the National Shipping Company of Saudi Arabia (Bahri)...

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