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Global trade in diesel and other refined petroleum products is evolving exactly as predicted. European Union and G-7 sanctions targeting Russian exports are forcing product tankers to sail longer voyages and sucking more ships into the “shadow fleet,” reducing effective transport supply in Western trades.

What comes next for already tight transport supply is also completely predictable.

Tensions in long-running contract talks at West Coast ports are worsening, with employers accusing unionized dockworkers of slowing cargo handling at the ports of Los Angeles and Long Beach, the nation’s busiest gateway for imported consumer goods.

The sharp rhetoric marks a shift from a longstanding agreement to maintain public silence on issues around the negotiations, which began last spring. The two sides appear to be no closer to bridging the gap on their disagreements, pointing to the possibility of deeper disruptions to U.S. trade flows.


Towboat Queen City Looses 12 Barges with 8 Going Over the Dam | One Barge Loaded with Methanol​

Mar 29, 2023

In this episode, Sal Mercogliano - maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the barges that broke loose on the Ohio River and one striking the Kentucky-Indiana Railroad bridge and the three hitting the Ohio Fall Dam; one of the barges was loaded with 1,400 tons of Methanol. 10:42

- Ohio River Disaster As Barge Hauling 1,400 Tons Of Methanol Smashes Into Dam https://www.zerohedge.com/markets/ohi...
- Louisville Army Corps of Engineers https://twitter.com/LouisvilleUSACE
- Marine Traffic - Louisville, KY https://www.marinetraffic.com/en/ais/...
- WLKY - Several barges loose on Ohio River in Louisville, 1 carrying methanol is sinking https://www.wlky.com/article/barges-l...
- Emergency Response Guide 2020 https://www.phmsa.dot.gov/sites/phmsa...
From the link:

EU Commission president Ursula von der Leyen is crystal clear on the direction of travel for critical raw mineral supply in the bloc. She has publicly stated that lithium and rare earths “will soon be more important than oil and gas”. European Union demand for rare earths alone is anticipated to increase fivefold by 2030, while EU demand for the lithium used in electric vehicle batteries and energy storage is expected to increase twelve-fold by 2030.


Hello, goodbye: Shipping’s latest entries and exits on Wall Street​

Shipping stocks are having a good run, generally outperforming the S&P 500, Dow Jones Industrial Average and NASDAQ 100 during the past three years amid the pandemic and Russia-Ukraine war.

For those looking to place more bets on U.S.-listed shipping stocks, the lineup is in flux. There are new listings on the New York Stock Exchange and NASDAQ. There are also continued departures as more public players go private.




BUENOS AIRES, April 2 (Reuters) - Argentina's government will launch a new "soy dollar" preferential exchange rate for farm exports on Monday, a spokesperson from the economy ministry said, to boost agricultural shipments and increase the depleted foreign reserves in the central bank (BCRA).



What's Going on With Tankers? April 4, 2023 | OPEC+ Cuts 1 Milliion Barrels Per Day in Production​

Apr 4, 2023


In this episode, Sal Mercogliano - maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the recent decision by OPEC+ to lower production of crude oil and the impact it had on the international tanker market.

Surprise OPEC+ Output Cuts Pummel Tanker Stocks https://gcaptain.com/surprise-opec-ou...

Fearnleys Weekly Report Week 13 - March 28, 2023 https://fearnpulse.com/

The Emergence of New Tanker Market Players​

4 min read

Since the start of the conflict between Ukraine and Russia, a new breed of Tanker owners has emerged. Demand for Tankers increased, and this has caused Tanker freight rates to rise following a long period of stagnation, enticing new players to enter the market.


Commodity Price Outlook and Interest Rate Concerns Cloud Farmer Sentiment​

April 4, 2023
James Mintert and Michael Langemeier, Purdue Center for Commercial Agriculture
A breakdown on the Purdue/CME Group Ag Economy Barometer January results can be viewed at https://purdue.ag/barometervideo. Find the audio podcast discussion for insight on this month’s sentiment at https://purdue.ag/agcast.


Ira Epstein's Metals Video 4 5 2023​

Apr 5, 2023


Ira Epstein reviews the days trading in the metal markets.
Europol has released a joint analysis report examining the risks and challenges posed by criminal networks in EU ports, highlighting the increasing focus of criminal organizations on major logistical hubs, such as ports, in their quest for growing profits and expanding their illegal activities.

NEW DELHI/LONDON, April 6 (Reuters) – Global fuel suppliers are turning to longer and costlier routes that produce more carbon emissions to move their diesel and other products as Western restrictions on Russian cargoes have reshuffled global energy shipping patterns.

As a result of the European Union ban on Russian fuel that started on Feb. 5, tankers carrying clean oil products such as gasoline, diesel, jet fuel and naphtha are traveling between 16 and 18 days to bring Russian supplies to Brazil or U.S. cargoes to Europe, according to two shipping sources.

From the link:

Rome –The benchmark index of international food commodity prices declined for the 12th consecutive month in March, driven by declines in world quotations for cereals and vegetable oils, the Food and Agriculture Organization of the United Nations (FAO) reported today.

MOSCOW (Reuters) - Russia warned the West on Friday that unless obstacles to its exports of grain and fertilisers were removed, then Ukraine would have to export grain over land and Moscow would work outside the UN-brokered landmark grain export deal.

The Black Sea grain deal is an attempt by the United Nations to ease a food crisis that predated the Russian invasion of Ukraine, but was made worse by the most deadly war in Europe since World War Two.

NAPERVILLE, Illinois, April 5 (Reuters) - Although spring planting has begun in the United States, it will be a couple of weeks before farmers across the country are in full swing. Warm weather expected for mid-month should be friendly to their efforts.

However, some of the most trying U.S. planting seasons have occurred recently, mostly because of excessive rainfall and/or overly cool temperatures. The Northern Plains in particular have had difficulty lately, and that is not off the table for this year given the heavy snowpack.

The Pacific Maritime Association (PMA) has accused the local ILWU union of carrying out “illegal work actions” that have disrupted operations at the nation’s busiest port complex, marking the latest sign that West Coast labor talks have turned sour.

PMA represents 70 ocean carriers and terminal operators at the 29 West Coast Ports. In its latest statement, PMA blamed ILWU Local 13 union for using “new tactics” to slow the start of operations at the Ports of Los Angeles and Long Beach and force crucial cargo handling equipment to be taken out of operation at several key terminals. PMA did not clarify the level of disruption or which terminals were affected.


Earnings Reports All Week Long Will Dictate Market's Movement - Ira's SPDR-ETF Video for 4 14 2023​

Apr 14, 2023


Ira Epstein reviews the days trading in various SPDR-ETF markets.

What the Ship | Walla Walla Grounds | Ship Orders | Hong Kong FSRU | Black Sea Grain | War Sailor​

Apr 16, 2023


00:00 Introduction

00:42 1. Ferry runs aground in Rich Passage near Bainbridge Island https://www.kiro7.com/news/local/ferr...
MV Walla Walla https://wsdot.com/ferries/vesselwatch...
Marine Traffic : MV Walla Walla https://www.marinetraffic.com/en/ais/...

04:55 2. Boxship and gas carrier orders smash more records https://splash247.com/boxship-and-gas...
Cash buyers making fortunes flipping vintage tankers https://splash247.com/cash-buyers-mak...

09:27 3. World’s Largest FSRU Arrives in Hong Kong https://gcaptain.com/worlds-largest-f...

13:05 4. Ships Inspections Slow as Black Sea Grain Deal Negotiations Continue https://gcaptain.com/ships-inspection...
Russia Says Black Sea Grain Deal May be Nearly Over https://gcaptain.com/russia-says-blac...
What Happens if Russia Abandons the Black Sea Grain Deal? https://gcaptain.com/what-happens-if-...
A Grain Glut Is Straining the Goodwill That Ukraine Badly Needs https://www.bloomberg.com/news/articl...

21:07 5. War Sailor: A Masterpiece Sheds Light On PTSD And The Unsung Heroes Of The Sea https://gcaptain.com/war-sailor-a-mas...
Nortraship https://en.wikipedia.org/wiki/Nortraship https://www.warsailors.com/freefleet/...
Norway: War Resistance Peace https://www.wwiinorge.com/
See where the blockbuster "Krigsseileren" was filmed - DS Hestmanden has an open ship https://www.vestagdermuseet.no/ds-hes...

US ready to lend Poland $4 billion for nuclear energy plan​

Story by By MONIKA SCISLOWSKA, Associated Press • 10h ago

WARSAW, Poland (AP) — A project to develop small nuclear power reactors in Poland is moving forward, with Polish energy company Orlen and two U.S. government financial institutions signing an agreement Monday.

Full article:

MOSCOW, April 18 (Reuters) - The clear winner in the race to replace Russian oil at Europe's refineries is Norway's Johan Sverdrup crude, according to Refinitiv Eikon data and traders.

Johan Sverdrup was launched in 2019, making it a relative newcomer compared to Russia's Urals grade.

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