The world is facing a major oil capacity glut in the current decade that could trigger lower prices and test OPEC’s market control as global oil demand peaks, the International Energy Agency said June 12. Global oil demand, including biofuels,…
The U.S. Department of Agriculture (USDA) on Wednesday cut its projection for U.S. sugar stocks-to-use ratio, a key indicator of the supply level, to 11.5% for the 2024/25 season from 11.7% last month as estimates for sugar production in the…
Non-commercial market participants reduced their net long position in Euronext’s milling wheat futures and options in the week to June 7, data published by Euronext on Wednesday showed. Non-commercial participants, which include investment funds and financial institutions, reduced their net…
Malaysia has maintained its July export tax for crude palm oil at 8%and loweredits reference price, a circular on the Malaysian Palm Oil Board website showed on Wednesday. The world’s second-largest palm exporter calculated a reference price of 3,839.63 ringgit…
Western Canadian wheat prices ended a nine-day decline June 11, but the overall lower price trend continued amid reduced demand for forward shipments out of Vancouver in recent sessions. “Asian demand is lacking and are awaiting falling prices, pushing exporters…
Farm office FranceAgriMer increased its forecast for French soft wheat exports outside the European Union in 2023/24, leading to lower projected stocks, although these remained at a 19-year high. In its supply and demand outlook, the office pegged French non-EU…
PetroVietnam Gas said it had received a 70,000-ton LNG cargo from PetroChina International for domestic power generation and industrial production. The cargo from Brunei arrived at the company’s LNG terminal in the southern province of Ba Ria Vung Tau on…
India’s finished steel imports touched a five-year high in the first two months of the fiscal year that began in April, with the country continuing to be a net importer, according to provisional government data seen by Reuters. Steel demand…
With the arrival of the final four of ten supersized ship-to-shore cranes this week, the Port of Salalah’s USD 300 million expansion plan remains on track. By the end of the year, the Port will have increased its annual container…
Shipping Australia is pleased to announce that we have joined the Women’s International Trading & Shipping Association (WISTA) Australia! Formed in 1974, the Women’s International Shipping & Trading Association (WISTA International) is a global organisation connecting female executives and decision-makers…