Palm ends lower on weaker Malaysian exports, Dalian gains cap losses | Sailor Job

Malaysian palm oil futures finished more than 1% lower on Monday following reports of lackluster exports this month, although gains in competing edible oils on the Dalian Commodity Exchange limited the downward trend.

The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange dropped 51 ringgit, or 1.29%, to 3,911 ringgit ($840.71) per metric ton.

Exports of Malaysian palm oil products during Aug. 1-25 were seen falling between 4.3% and 7.8% from a month-ago period, independent inspection company AmSpec Agri Malaysia and cargo surveyor Intertek Testing Services said on Friday.

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Iron ore climbs on China policy support, demand recovery signals | Maritime Union Of India

Iron ore extended its rally on Tuesday, with the Singapore benchmark hitting its highest in more than three weeks underpinned by policy measures to shore up China’s sputtering economic rebound and signs of rising Chinese demand.

The steelmaking ingredient’s most-active September contract on the Singapore Exchange SZZFU3 climbed as much as 3.4% to $111.05 per metric ton, its strongest level since July 27.

The most-traded January iron ore on China’s Dalian Commodity Exchange DCIOcv1 ended daytime trade 4.5% higher at 805.50 yuan ($110.52) per ton, extending its rally to a ninth straight session.

“The implementation of macro and micro-targeted fiscal and monetary easing policy measures on a municipal and provincial level appears to be back in vogue and picking up momentum,” said Navigate Commodities Managing Director Atilla Widnell.

Widnell cited a report saying China had permitted 12 provinces and regions to issue 1.5 trillion yuan of special financing bonds, which he said may help improve funding for construction and infrastructure projects.

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Best practices and safety considerations for nickel ore shipments | Shore Jobs In Shipping

General

The period from April to November marks the traditional typhoon season in the waters of the Philippines and China, coinciding with the peak season for nickel ore transportation in the Philippines. Typhoons and tropical storms pose significant challenges to the safe shipment of nickel ore. These weather conditions increase the moisture content before loading and cause severe rolling and pitching during the voyage and which in turn may result in liquefaction and shifting of the cargo.

Recently, a vessel covered by Skuld experienced a cargo liquefaction incident while en route to the discharge port. A vessel covered by another Club also faced a similar incident.

Best practice

The liquefaction of nickel ore during shipment can be attributed to two key factors, the moisture content of the cargo and the rolling and pitching of the vessel during the voyage. These factors, one internal and the other external, are both necessary conditions for cargo liquefaction to occur. However, by effectively monitoring and controlling these factors, the risk of liquefaction can be significantly reduced.

Closely monitoring moisture content of the cargo during loading and carefully managing navigation during passage are the best practices for preventing liquefaction incidents in nickel ore shipments.

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Sailors’ Society crisis team support shipwreck crew and their families | Sailor Job

Sailors’ Society’s Crisis Response Network is supporting survivors of a shipwrecked trawler after an urgent search and rescue operation took place off the Southern Cape coast of South Africa.

The experienced team from the global maritime welfare charity is also comforting families of the seven-strong crew, four of whom died when the local fishing trawler washed up on rocks in rough seas.

The search and rescue effort was triggered by a distress signal received from the vessel, which had run aground in the Gouritzmond area of the Mossel Bay coast.

Rescuers found the skipper carrying out CPR on the body of one of his six crewmen, while another crewman, who could be heard shouting for help from the badly damaged fishing vessel battered by heavy waves, was later rescued. Both he and the skipper were treated for hypothermia.

During the subsequent search, four bodies were recovered and one man remains missing.

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Baltic index up for 3rd day on firm rates for larger vessels | Shipping Openings

The Baltic Exchange’s main sea freight index .BADI rose for a third straight session on Monday, buoyed by an uptick in capesize and panamax vessels rates.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, rose 9 points to 1,145.

* The capesize index .BACI gained 14 points to 1,832.

* Average daily earnings for capesizes .BATCA, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, increased by $112 to $15,192.

* The panamax index .BPNI gained 20 points, or 1.8%, to 1,153, highest since June 21.

* Average daily earnings for panamaxes .BPWT, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, increased by $173 to $10,373.

* Iron ore futures dropped, as the lack of substantial stimulus from China unnerved investors, while concerns over long-term steel demand continued to weigh on the market.

* Among smaller vessels, the supramax index .BSIS slipped 2 points to 686.

Source: Hellenic Shipping News

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Asia Fuel Oil-HSFO rally stalls, inventories continue to rise | Maritime Hiring

A recent rally in high sulfur fuel oil (HSFO) showed signs of pausing as of Thursday, while landed inventories at key trading hub Singapore rose for a second straight week.

The cash differential for 380-cst HSFO dipped slightly at $28.85 a metric ton, as front-month backwardation narrowed after firming sharply in the past few sessions.

A flurry of spot cargo bids continued to emerge as with the previous day, though trade quietened down.

The front-month crack for 380-cst HSFO also retreated, closing at a discount of $6.20 a barrel.

Meanwhile, the very-low sulphur fuel oil (VLSFO) spot market remained trapped in thin premiums.

The 0.5% VLSFO cash differential MFO05-SIN-DIF dropped to a premium of $2.99 a metric ton, while the front-month crack climbed slightly to a premium of $10.69 a barrel.

In tenders, India’s MRPL offered both marine LSFO and HSFO for loading in August, each of 20,000 tons. The tender closes on Friday.

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Tankers: Crude Flows Constantly Shifting | All Types of Marine Jobs

seaborne crude oil flows keep on changing, with China having recently emerged as major buyer of US crude oil. In its latest weekly report, shipbroker Intermodal said that “the recent commitment from Russia and Saudi Arabia to production cuts, coupled with Saudi Aramco’s consecutive increase in OSPs to Asian customers, has prompted Asian buyers to seek alternative sources of crude oil. Notably, in June alone, China’s imports of U.S. crude soared to 3.05 million mt, representing a remarkable 354% y-o-y increase and reaching the highest volume recorded since December 2020, as per data from the General Administration of Customs China (GACC). Similarly, the narrow Brent/Dubai EFS spread, which made Brent-linked crude highly attractive in the Asian market, paired with low freight rates, has facilitated increased shipments of crude oil from Brazil to China”.

According to Intermodal’s Research Analyst, Ms. Chara Georgousi, “looking ahead to Q3, the market’s concern lies in Chinese refiners’ future actions, influenced by crude prices. Should OPEC+ succeed in bolstering prices through output restrictions, it is anticipated that Chinese refiners might curtail some of their crude imports, opting instead to draw from existing inventories to fulfill any potential surge in domestic demand. Conversely, if prices maintain stability around the $75 per barrel mark, it is probable that China will sustain its crude oil imports at relatively robust levels”.

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