Trafigura News

28 Mar 2019

Trafigura Sends More Asian Gasoline to Americas

File Image (CREDIT: AdobeStock / © Jose Gill)

Commodity trader Trafigura is shipping this month a second newly built crude tanker with Asian gasoline onboard to South America amid strong demand in the West, four industry sources who closely monitor petrol trade flows said on Thursday.Although it is not uncommon for traders to use a brand new crude tanker of 150,000 deadweight tonnage (dwt) to ship clean fuels such as diesel, it is rare to use them for gasoline because of the sheer size."South America likely needs gasoline more than gasoil now.

24 Jan 2019

Offshore Terminal Plan Slowed by U.S. Shutdown

© freshidea/AdobeStock

The U.S. government shutdown has delayed Enterprise Products Partners LP's plan to build a major U.S. crude export terminal off Houston, blocking the pipeline operator from filing paperwork with U.S. regulators, an executive said on Wednesday.Enterprise plans to file a 10,000-page permit application with the U.S. Maritime Administration and the U.S. Coast Guard as soon as the U.S. government reopens. It takes about a year for regulators to process an application for a deep-water terminal."Tell me when the government opens and I'll tell you when it happens…

10 Jan 2019

US Oil Export Boom Sparks Battle to Build Texas Ports

© Robert Coy / Adobe Stock

Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.Of seven proposed oil-export projects, nowhere is the opportunity greater or the competition more fierce than in Corpus Christi, Texas, where three firms are vying to open the state's first deepwater port.Commodities trader Trafigura has taken an early lead with a planned offshore facility that has an easier…

11 Dec 2018

Trafigura Boosts LNG Volumes by 22%

 File Photo: Singapore LNG Corporation (SLNG)

Geneva based commodity trading company Trafigura increased its liquefied natural gas (LNG) traded volumes by 22% to 9.9 million mt in its financial year ending September 30 2018, driven by sales to China and South Korea, with the Asian share of our LNG business jumping to 30 percent.According to the annual report from the multinational commodity trading company, which is legally registered in Singapore,  the big story in the LNG market in 2018 was a surge in demand in Asia. In China…

04 Dec 2018

Rising Ship Supply Eases LNG Charter Rates

File Image: a fully laden LNG tanker transits the Med in this recent image. Credit: Robert Murphy

Limited availability drove LNG shipping rates to highs; but prices now falling as more ship supply becomes available.Inflated spot charter rates for liquefied natural gas (LNG) tankers are easing as more ships becoming available, which could help increase LNG trade if Asian demand rises in coming months.LNG charter rates are a key component of spot LNG trade, dictating the way the super-cooled gas is transported. Charter rates usually follow the price of LNG, which has fallen since September due to sluggish demand from Asian buyers.Rates have remained high for most of this year…

19 Nov 2018

Oman Shipping: Strong Domestic Performance

Debasish Mohapatra (Photo: OSC)

Oman Shipping Company (OSC) is reporting strong performance in domestic markets following long-term deals with local refineries and traders including ORPIC and OTI.OSC’s growth in the region is being driven by a 20-year contract to transport condensate for ORPIC (Oman Oil Refineries and Petroleum Industries Company) and a 15-year deal transporting methanol for OTI (Oman Trading International) from Salalah Methanol plant.The company is further supporting the export of LPG from Sohar Refinery to Yemen, Sudan, India, Bangladesh and Sri Lanka.

29 Oct 2018

Corpus Christi Port to Build Oil Export Terminal

Photo: Port of Corpus Christi

Port to build oil export terminalPrivate equity firm Carlyle Group will partner with the Port of Corpus Christi, the top oil export hub in the United States, to develop a major crude oil export terminal on Harbor Island.Carlyle's announcement comes as infrastructure in the U.S. oil industry struggles to keep up with record levels of production, driven by the Permian shale patch in West Texas. Both international buyers and American producers are waiting for export capacity to increase.Corpus Christi has its own plan to expand operations to handle larger export tankers.

24 Oct 2018

Ship Financiers Toughen Stance on CO2 Emissions

File Image / Adobstock © 14ktgold

Leading shipping finance banks have joined industry players in support of faster action to cut carbon emissions by the sector.In April, the United Nations shipping agency reached an agreement to reduce CO2 emissions by at least 50 percent by 2050 compared with 2008 levels, which fell short of more ambitious targets.The UN's International Maritime Organization (IMO) is meeting in London this week to work on an initial strategy on cutting greenhouse gas emissions.In the meantime…

01 Oct 2018

Trafigura Concludes TNG's Dalmacija Charter

Photo: TNG

Commodity trading company Trafigura has terminated a time charter contract for chemical/product tanker Dalmacija with Croatian shipping company Tankerska Next Generation (TNG). "After nearly three years from delivery, TNG and Trafigura have mutually agreed to conclude an almost fully utilized time charter employment contract for the eco-designed MR product tanker Dalmacija," said a press release from the Croatian tanker owner.The vessel has been redelivered with compensation for early re-delivery…

24 Sep 2018

Oil Could Rise to $100 by 2019

© alexyz3d / Adobe Stock

Oil prices could rise towards $100 per barrel towards the end of the year or by early 2019 as sanctions against Iran bite, commodity merchants Trafigura and Mercuria said on Monday at the Asia Pacific Petroleum Conference (APPEC) in Singapore.Almost 2 million barrels per day (bpd) of crude could be taken out of the market as a result of the U.S. sanctions against Iran by the end of the fourth quarter this year, said Daniel Jaeggi, president of commodity merchant Mercuria Energy Trading…

21 Sep 2018

Trafigura Leases 35 Crude Oil and Product Tankers

(Photo: Trafigura)

Commodity trader Trafigura had leased 35 newly built crude oil and oil product tankers from an undisclosed Asian financial partner with the vessels expected to be delivered late this week and all through 2019, the company said."Until 2020, the vessels will run on regular fuel, and from then onwards, whenever allowed (some ports do not allow usage of open loop scrubber), they will burn high sulphur fuel oil, which is possible due to the scrubber onboard each vessel," a company spokesman told Reuters on Friday.The tankers…

20 Sep 2018

Trafigura Names First of 35 New Tankers

Photo: Trafigura Group

Singapore's commodity trading company Trafigura Group has named the first of its 35 crude oil and product tankers being built in South Korea and China.The naming ceremony took place at Hyundai Samho Heavy Industries’ shipyard in Jeolanam-do, in the southwest of South Korea yesterday (September 20) in the presence of Singapore’s Senior Minister of State for Transport and Health, Dr Lam Pin Min. Dr Lam’s wife, Dr Jeanette Chen, became godmother to the first vessel to be named, the Mt Marlin Singapore…

20 Sep 2018

Bangladesh Shelves LNG Projects as Others Ramp Up

© Kpics / Adobe Stock

Bangladesh has put aside two smaller liquefied natural gas (LNG) projects with trading houses Gunvor and Vitol to focus on two larger LNG import terminals, one of which is already in use while the second will start up in March.Bangladesh has turned to LNG to offset falling domestic gas output to feed industrial demand and electricity generation in a nation of 160 million people where a third have no power supply.It aims to import 17 million tonnes a year of LNG by 2025, which in today's terms would make it a top five importer.

22 May 2018

UN Seeks Traders' Help Enforcing North Korea Sanctions

© Nobilior / Adobe Stock

A U.N. monitoring group wants to enlist the help of the world's biggest oil trading companies to enforce sanctions that cap the amount of crude and related products North Korea can import, the coordinator said.The U.N. Security Council ramped up sanctions last year after North Korea said it had conducted missile tests that put the U.S. mainland in range of its nuclear weapons.Under the restrictions, Pyongyang is limited to importing 4 million barrels of crude and 500,000 barrels…

30 Jul 2018

Supertanker Hauling Saudi Crude U-turns After Recent Attack

© A.F. van Rhijn / MarineTraffic.com

A supertanker carrying Saudi Arabian crude has turned around near the Bab El-Mandeb strait, days after the world's top exporter said it was suspending all oil shipments through the strait following an attack by Yemen's Iran-aligned Houthi movement on two other ships.The Khuzama, a Very Large Crude Carrier (VLCC) transporting about 2 million barrels of oil, has made a U-turn and is now sailing east - ClipperData and Reuters vessel tracking data.Yemen, where a Saudi-led coalition has been battling the Houthis in a three-year war, borders the strait, which connects the Gulf of Aden to the Red Sea

16 Aug 2018

Blockchain Benefits Still Murky for Most Commodities Trading

© Riza / Adobe Stock

Commodity firms and banks have been diving into blockchain pilot schemes over the last two years but the new technology's application for most trading has likely been over-hyped, a report by Boston Consulting Group (BCG) said.Blockchain, originally the platform behind cryptocurrency Bitcoin, is viewed by some as a solution to inefficiencies, improving transparency and reducing to the risk of fraud. But BCG believes its potential has been exaggerated.A high-tech ledger, blockchain…

26 Jun 2018

Trafigura Strikes 3-year LNG Deal from U.S. Project

File Image: A typical LNG Carrier at Sea (CREDIT: QGTC)

Commodity trader Trafigura on Tuesday said it agreed to buy 0.5 million tonnes of liquefied natural gas (LNG) annually over three years from the Freeport LNG export plant in the United States.   Deliveries from Freeport LNG Marketing will begin in 2020 from its facility on Quintana Island near Freeport, Texas, Trafigura said.   The deal builds on Trafigura's 15-year, 1 million tonne per annum agreement with Cheniere Energy for supply from its Sabine Pass plant in Louisiana, which was announced in January.   Reporting by Oleg Vukmanovic

17 May 2018

New Rules on Ship Emissions Herald Sea Change for Oil Market

© xy / Adobe Stock

New rules coming into force from 2020 to curb pollution produced by the world's ships are worrying everyone from OPEC oil producers to bunker fuel sellers and shipping companies.The regulations will slash emissions of sulfur, which is blamed for causing respiratory diseases and is a component of acid rain that damages vegetation and wildlife.But the energy and shipping industries are ill-prepared, say analysts, with refiners likely to struggle to meet higher demand for cleaner…

18 Jul 2018

For the Global LNG Industry, is the FSRU Honeymoon Over?

(Photo: Höegh LNG)

A giant vessel docked at the port of Moheshkhali in Bangladesh two months ago, propelling the populous but poor nation into the fast-expanding club of liquefied natural gas (LNG) buyers.The Excellence is the latest floating storage and regasification unit (FSRU), a type of carrier that has proliferated since 2015 as many countries switch to a cleaner and increasingly cheaper fuel than oil and coal.But the young FSRU industry has been beset by more project delays than successes in the past 12 months as fluctuating energy prices…

02 Aug 2018

Bad Weather Stalls Bangladesh FSRU Hook Up

Excelerate CFO Nick Bedford and representatives from IFC, the Bangladeshi government, Petrobangla, and project lenders at the signing ceremony in Dhaka in the summer of 2017. IFC, a member of the World Bank Group, and Excelerate Energy Bangladesh Limited (Excelerate) are co-developing the Moheshkhali Floating LNG project – Bangladesh’s first liquefied natural gas (LNG) import terminal. (Image: Excelerate)

A vessel that arrived in Bangladesh in April to offload its maiden cargo of liquefied natural gas and moor permanently as an import terminal should begin operations "within a week" after bad weather hampered its start-up, an official said on Thursday.The floating storage and regasification unit (FSRU) will allow Bangladesh to import LNG for the first time as its domestic gas production falls and will boost several power projects in a nation where 30 percent go without electricity.Since its arrival at Moheshkhali…

07 Aug 2018

Trafigura to Build U.S. Deep-Water Oil Port

Image: Trafigura

Swiss commodities trader Trafigura has applied to build a deep-water port in Corpus Christi, Texas, on the Gulf of Mexico, which will be able to load supertankers, reports FT.The report said that the plan would see the commodity house build an offshore deepwater port facility  with a view to accommodate very large crude carriers (VLCC) capable of carrying more than 2m barrels of crude. It requires approval from the US Department of Transportation’s maritime division.According to a Reuters report…

17 Apr 2018

LPG, Fuel Tankers Collide off Singapore

© Kero / MarineTraffic.com

Two oil products tankers had collided off Singapore coast but the impact of the accident was not immediately clear, industry sources familiar with the matter said on Tuesday. The tankers were identified as Crystal Sunrise, chartered by Japanese liquefied petroleum gas (LPG) firm Gyxis, and Astro Saturn chartered by European trading house Trafigura. "We can confirm that the Astro Saturn is on TC (time charter) to Trafigura and is carrying fuel oil," said it's spokeswoman without elaborating further.

17 Apr 2018

Update: Ship Leaking Butane after Collision in Singapore

© DEDE ONEN / MarineTraffic.com

Singapore's Maritime and Port Authority (MPA) said it is investigating a collision between two tankers in Singapore waters on Tuesday that led to a leak of liquefied petroleum gas (LPG) from one of the ships.An estimated 1,796 tonnes of butane gas leaked from the LPG tanker involved but this posed no danger to shipping and measures had been taken by the ship's crew to stop the leak, MPA said in a statement."As liquefied butane has a high evaporation rate, MPA has assessed that any leaked butane would have been carried southward away from mainland Singapore…

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