2024-07-20 11:05

KUALA LUMPUR, July 20 (Reuters) - Malaysia's coast guard said on Saturday that one of the two large oil tankers involved in a collision that led to fires on both had left the location of the accident and was believed to have turned off its tracking system. The coast guard said it was tracking the whereabouts of the Sao Tome and Principe-flagged tanker Ceres I, which was suspected to be within Malaysian waters. The Ceres I was involved in a collision reported early on Friday with the Singapore-flagged Hafnia Nile about 55 km (35 miles) northeast of the Singaporean island of Pedra Branca, the Maritime and Port Authority of Singapore (MPA) said on Friday. The 40 crew on the Ceres I were all accounted for, the MPA had said, adding that 14 had been evacuated by a Singapore Air Force helicopter while 26 were conducting fire-fighting operations onboard. The Chinese owner of the Ceres I could not be reached for comment. The Ceres I is a very large crude carrier (VLCC) supertanker, which ship-tracking data last showed was carrying around 2 million barrels of Iranian crude. However, Iran's oil ministry said on Saturday that neither ship had been carrying Iranian crude. The area where Ceres I had been anchored is known to be used by so-called dark fleet ships for the transfer of Iranian oil in contravention of U.S. sanctions, Michelle Wiese Bockmann, principal analyst at Lloyd's List Intelligence, said on Friday. Matt Stanley, head of market engagement for EMEA & APAC with Kpler, said on Friday that the Ceres I has "gone dark" many times, referring to when vessels switch off their AIS tracking transponders. The 74,000-deadweight-tons capacity Panamax tanker Hafnia Nile was carrying about 300,000 barrels of naphtha, according to ship-tracking data from Kpler and LSEG. All 22 crew aboard the Hafnia Nile were evacuated and arrived in Singapore on Friday. A video taken on Saturday and posted by the Malaysian coast guard showed the charred Hafnia Nile afloat. Singapore's MPA did not immediately respond to a request for comment on Saturday. Salvage experts boarded the Hafnia Nile and established a towing connection with one of the attending tugs, the tanker's operator Hafnia said in a statement on Saturday. "A first assessment on board the vessel confirms that no visible flames are observed," Hafnia said. "Pollution levels around the vessel are still undetermined." Discussions are underway with Malaysian authorities to safely move the tanker, it added. Hafnia also said it is also cooperating with Singapore on the ongoing investigations into the cause of the incident. Singapore is Asia's biggest oil-trading hub and the world's largest bunkering port. Its surrounding waters are among the busiest global sea lanes. Sign up here. https://www.reuters.com/world/asia-pacific/malaysia-coast-guard-says-tanker-involved-fire-has-left-site-2024-07-20/

2024-07-20 09:00

MOSCOW, July 20 (Reuters) - Russia increased imports tariffs for consumer goods, including wine, beer, candies, biscuits and shampoo, produced in countries that support sanctions against Moscow, according to a government order published late on Friday. Russian imports from nations that imposed sanctions against Moscow over its military conflict with Ukraine slumped in 2022 and the price of imported alcohol has risen significantly. Some Western producers stopped selling to Russia, but Moscow has found roundabout ways to keep goods coming, including a grey imports scheme, and plenty of foreign goods remain on store shelves. According to the order, the tariffs for perfume, cosmetics and shampoo from Poland, for example, will amount to 35% of the customs value. Duties for wallpapers from Lithuania, Latvia and Estonia will rise to 50%. Import duties for wine will be hiked to 20%. The new tariffs will be in place until and including Dec. 31 2024 and take effect seven days after publication. Sign up here. https://www.reuters.com/markets/europe/russia-hikes-import-tariffs-consumer-goods-unfriendly-countries-2024-07-20/

2024-07-20 08:35

SINGAPORE, July 20 (Reuters) - China's total fuel oil imports slipped 11% in the first half of 2024, data showed on Saturday, amid a backdrop of weak refining margins and poor fuel demand. The imports totalled 11.95 million metric tons, or about 75.88 million barrels, data from the General Administration of Customs showed. Chinese refiners typically purchase fuel oil as a refining feedstock, with imports surging to a decade high in 2023 after independent refineries boosted purchases of discounted oil blended from Russian barrels. Buying has cooled off this year, however, with monthly imports sliding towards the end of the second quarter. June imports totalled 1.49 million metric tons, 31% lower than May and 45% down from a year earlier, according to General Administration of Customs data. Higher crude prices and weaker refined fuel demand have weighed on refining margins and dampened appetite for feedstocks. The import volumes included purchases under ordinary trade, which are subject to import duty and consumption tax, as well as imports into bonded storage. Meanwhile, fuel oil export volumes for bunkering totalled 9.05 million tons in the first half of 2024, down 8.3% from the same period in 2023. The decline in exports emerged despite a global uptrend in marine fuel demand following shipping disruptions in the Red Sea. The exports are measured mostly by sales from bonded storage for vessels plying international routes. The tables below show China's fuel oil exports and imports in metric tons. The exports section largely captures China's low sulphur oil bunkering sales along its coast. (Figures are based on latest available data at the time of publishing, and may be subject to revision by China customs at a later date) (1 metric ton = 6.35 barrels for fuel oil conversion) Sign up here. https://www.reuters.com/business/energy/chinas-first-half-2024-fuel-oil-imports-slide-11-yy-2024-07-20/

2024-07-20 07:18

June Russian supplies down 20% on year; H1 up 5% H1 imports from No. 2 supplier Saudi Arabia down 13% on year Malaysia holds firm as No. 3 supplier; H1 volumes up 14% on year July 20 (Reuters) - China's crude oil imports from top supplier Russia fell 20% in June year-on-year, bringing the total for the first half of 2024 up 5%, official data showed on Saturday, as refiners, pressured by weakened margins, chased discounted barrels. Russian oil arrivals, including via pipelines and shipments, totalled 8.43 million metric tons last month, or 2.05 million barrels per day (bpd), according to data from the General Administration of Customs. That's down from 2.1 million bpd in May and from the all-time high in June 2023 of 2.56 million bpd. The moderating Russian imports in June were in part due to weaker demand from China's independent oil processors, as thinning margins amid poor domestic fuel demand forced them to scale back operations to the lowest level since early 2020. Demand for Russia's Urals crude loaded from European ports was also subdued as Red Sea tensions kept freight rates high. Shipments from No. 2 supplier Saudi Arabia totalled 6.82 million tons, down 14% on the year. Year-to-date volumes fell 13% year-on-year to 40.38 million tons, or 1.62 million bpd. China's total crude oil imports slumped 11% from the record high a year earlier while imports for the first six months recorded a rare annual decline of 2.3%, dragged by weaker-than-expected domestic demand as the world's second-largest economy struggled to recover. Imports from Malaysia, a top transshipment hub for sanctioned oil from Iran and Venezuela, were 5.9 million tons, making it the third-largest supplier for June. Imports from Malaysia amounted to 29.49 million tons for the first half of the year, up 14% year-on-year. China did not record any imports from Iran or Venezuela last month. Imports from Angola posted a robust 58% year-on-year growth last month at 2.93 million tons, which was also up from May's 1.85 million tons. Relatively weaker prices of Brent oil, against which Angolan oil is priced, made the supplies attractive. Shipments from the United States were down 60% year-on-year at 1.21 million tons in June while imports from Brazil fell 16% to 2.83 million tons. Below are the details of imports from key suppliers with volume in million metric tons: (Metric ton = 7.3 barrels for crude oil conversion) Sign up here. https://www.reuters.com/markets/commodities/chinas-h1-crude-imports-top-supplier-russia-up-5-year-2024-07-20/

2024-07-20 06:47

BEIJING, July 20 (Reuters) - President Xi Jinping urged all-out rescue efforts after a highway bridge collapse on Friday in Shaanxi province in China's northwest killed 11 people, state media reported on Saturday. The incident occurred at 8:40 p.m. (1240 GMT) in Shangluo city on Friday when a highway bridge collapsed due to a flash flood, causing some vehicles to fall into the river. As of 10 a.m. on Saturday, five vehicles were confirmed to have fallen into the water and 30 people were reported missing, state media said. Xi said China is in a critical period for flood control and local governments must take responsibility to enhance monitoring and early warning. China's national fire and rescue authority said on Saturday it had dispatched a rescue team to the site that included 859 people, 90 vehicles, 20 boats and 41 drones. Sign up here. https://www.reuters.com/world/china/chinas-xi-urges-all-out-rescue-efforts-after-highway-bridge-collapse-kills-11-2024-07-20/

2024-07-20 03:24

MEXICO CITY, July 19 (Reuters) - Workers at a Mexican plant of steelmaker ArcelorMittal ended a 55-day stoppage on Friday, a government official from the state of Michoacan told Reuters late on Friday. Earlier on Friday, ArcelorMittal (MT.LU) , opens new tab had said a group of workers was continuing an "illegal blockade" at the facilities of its Mexican unit, a day after the company announced a new settlement with its workers and the end of the stoppage. The government official confirmed the stoppage had ended after the mining union leading the labor action and negotiations with ArcelorMittal published a statement asking the workers who were still protesting to "respect the agreements reached and voted by the majority". Reuters was unable to immediately contact either the mining union or its legal representatives. The steel company alleged that Friday's protests included acts of violence and put the safety of the workers at risk. ArcelorMittal had announced the end of the blockade on Thursday at its Lazaro Cardenas facilities in the southern state of Michoacan, after workers approved a new settlement including a pay hike. But dissident workers continued the action. Workers affiliated with the mining union had been protesting since late May against the annual profit distribution to employees, bringing all activities to a halt. ArcelorMittal, one of the world's largest steel and mining companies, last year generated over $68 billion in sales. It reported on Thursday an estimated loss of 1 million metric tons in steel output due to the strike, according to a statement. Sign up here. https://www.reuters.com/markets/commodities/arcelormittal-says-dissident-workers-still-protesting-mexican-plant-2024-07-19/