Tag: US

EIA reports that LNG exports from the United States decreased week on week. US LNG export facilities dispatched a total of eight LNG cargoes during the week ending January 16, six from Cheniere’s Sabine Pass facility, and one from its Corpus Christi and Dominion’s Cove Point facilities each. EIA forecasts U.S. LNG exports to increase gradually in 2019 and average 5.1 Bcf/d on an annual basis, up from 3.0 Bcf/d annual average in 2018. In 2020, however, as the new trains ramp up LNG production, U.S. LNG exports are projected to increase and average 6.8 Bcf/d annually.

The St. Lawrence Seaway Management Corporation announced, on January 17, that tonnage on the waterway during the 2018 navigation season totaled 40.9 million tonnes, hitting its record as it is the highest result since 2007. Traffic increased by 7% year-one year, whereas the total vessel transits were up nearly 6%.

The US Coast Guard and Customs and Border Protection responded to a report of three stowaways on the merchant vessel, Diana J, on January 16, about three miles off the Port of Miami. The boarding teams found no additional stowaways, rescinded the Captain of the Port Order and the stowaways were taken into custody.

According to EIA’s January Short-Term Energy Outlook, the predictions are that global benchmark Brent crude oil is to average $61 per barrel in 2019 and $65/barrel in 2020, experiencing an increase from the end of 2018. Yet, it will remain lower than the 2018 average of $71/b US benchmark West Texas Intermediate (WTI) crude oil prices were $8/b lower than Brent prices in December 2018, and EIA expects this difference to narrow to $4/b in the Q4 of 2019 and during 2020.

The US wants Qatar, which is the leader on LNG supply globally, to compete Russia's gas dominance in Europe, according to Reuters. The US are under conversation with Doha about supplying Europe with LNG, as it wants Germany and other countries to import Qatari and US gas rather than from Russia, which now accounts for 60 percent of German gas imports, as reported by Deputy U.S. Energy Secretary Dan Brouillette.

The US Coast Guard, announced on January 16, the official marine casualty investigation of the fishing vessel Mary B I, which capsized off Newport, Oregon on January 9. The capsized vessel led to three fishermen loosing their lives, according to the Coast Guard's statement. 

South Korea did not import Iranian oil for the fourth consecutive month in December, after the reimposition of US sanctions. In fact, South Korea cut its 2018 imports from the major supplier by 60%. Currently, Saudi Arabia is the top oil supplier, as it delivered 43.60 million tonnes of crude in 2018.

Three cargoes of US crude are being transported to China from the US Gulf Coast, according to Reuters. The cargoes represent the first departures since late September and a 90-day halt of trade between the two countries that began on December. The shipments highlight a change as Chinese buyers decided not to purchase US oil during the trade dispute between the two countries.

China will attempt to solve the trade tension with the US during 2019, the country’s commerce minister informed. This decision came after talking with US negotiators last week. China will attempt to advance outside investment by working on a foreign investment law and improving its dispute resolution system.

The result of the ongoing trade talks between China and the US, seems doubtful that the levels of frontloading seen at the end of 2018 will continue into 2019, according to BIMCO. Were the negotiations to fail, it would increase the possibility of tariffs to be increased in March, affecting the container shipping industry.