Michael Gaulin’s Post

The UK is experiencing slower inflation than both the Eurozone and the US due to reduced energy prices, leading to lower household energy bills possibly prompting the Bank of England to cut interest rates. Meanwhile, the VLCC tanker market saw a decline in April, with varying freight rates. South Korean petrochemical producers are shifting to cheaper LPG over naphtha, affecting regional demand. The US has also imposed a moratorium on new LNG export projects, potentially benefiting Middle Eastern and Russian producers. Additionally, cargo trade in MEG and other chemicals on the US Gulf to Asia route has seen notable transactions, with some vessels reconsidering the Panama Canal due to reduced costs. Click on the link, to read more about our latest weekly report: https://lnkd.in/edjyXZcg #BankOfEngland #ChemicalTrade #EconomicIndicator #EconomicTrends #EnergyMarketImpact #EnergyPrices #FreightRates #GlobalSupplyChain #GlobalTradeTrends #HouseholdBills #InflationAnalysis #InflationTrends #InterestRateCut #LPGvsNaphtha #MaritimeCommerce #MaritimeEconomics #MaritimeIndustry #MarketAnalysis #Marketoutlook #MiddleEastEnergy #RLA #RLAWeeklyReport #RLAMonthlyReport #OilDemand #PanamaCanalCosts #PetrochemicalIndustry #RLAInsights #RussianGas #ShippingNews #ShippingTransactions #TradeShifts #USGulfAsiaRoute #USLNGPolicy #VLCCMarket #WadeMaritimeGroup

𝗧𝗵𝗲 𝗼𝗻𝗴𝗼𝗶𝗻𝗴 𝗮𝘁𝘁𝗮𝗰𝗸𝘀 𝗶𝗻 𝗸𝗲𝘆 𝗺𝗮𝗿𝗶𝘁𝗶𝗺𝗲 𝗿𝗲𝗴𝗶𝗼𝗻𝘀, 𝗽𝗮𝗿𝘁𝗶𝗰𝘂𝗹𝗮𝗿𝗹𝘆 𝘁𝗵𝗲 𝗥𝗲𝗱 𝗦𝗲𝗮, 𝗮𝗿𝗲 𝗵𝗮𝘃𝗶𝗻𝗴 𝘀𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁 𝗿𝗲𝗽𝗲𝗿𝗰𝘂𝘀𝘀𝗶𝗼𝗻𝘀 𝗼𝗻 𝗴𝗹𝗼𝗯𝗮𝗹 𝗲𝗻𝗲𝗿𝗴𝘆 𝗺𝗮𝗿𝗸𝗲𝘁𝘀 𝗮𝗻𝗱 𝘁𝗵𝗲 𝘀𝗵𝗶𝗽𝗽𝗶𝗻𝗴 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆. 𝗛𝗲𝗿𝗲 𝗶𝘀 𝗮 𝗯𝗿𝗲𝗮𝗸𝗱𝗼𝘄𝗻 𝗼𝗳 𝘁𝗵𝗲 𝗶𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝘁𝗵𝗲𝘀𝗲 𝗮𝘁𝘁𝗮𝗰𝗸𝘀 𝗼𝗻 𝘃𝗮𝗿𝗶𝗼𝘂𝘀 𝗮𝘀𝗽𝗲𝗰𝘁𝘀: 🛢 Energy markets remain the most vulnerable to the ongoing attacks as almost 12% of the total oil trade via sea goes through the Red Sea, sending oil prices above $80 per barrel. 🚢 Around 16.2 million metric tons (MMt), or 51% of LNG trade, flowed from the Atlantic Basin east through the Suez Canal last year.Qatar, one of the world's biggest liquefied natural gas (LNG) exporters, hasn’t shipped any LNG cargoes to Europe via the Red Sea since Jan. 14 and at least five Qatar cargoes heading to Europe are currently taking the long-way route through the Cape of Good Hope. 🌾 Grain cargoes are also being diverted due to the conflict. Wheat shipments via the Suez Canal fell by almost 40% in the first half of January to 0.5 million metric tons due to attack. 💸 Robusta coffee futures on the ICE exchange have risen 9% so far this year and hit their highest price in at least 16 years. The situation highlights the vulnerability of critical maritime routes and the need for enhanced security measures in these regions. #transportation #trade #markets #supplychains

Global LNG freight rates stable despite recent vessel availability fluctuation Global LNG freight rates have remained steady throughout this year, despite the number of LNG vessels available in both the Pacific and Atlantic spot markets fluctuating in 2024.

Tanker Market Monitor Chart of the Week: The main importers of Russian clean exports In the second week of April, the crude oil freight market showed stability in the VLCC Ras Tanura segment and an upward trend in the Aframax Mediterranean, with a noticeable decrease in vessel supply; concurrently, the clean segment saw a rise in Russian oil exports to Brazil and Turkey. Meanwhile, U.S. crude oil prices retracted to around $85 per barrel, influenced by inflation worries which have delayed expectations for Federal Reserve rate cuts, overshadowing concerns of a potential Iranian strike on Israel. The Signal Ocean Tanker Market Monitor Chart of the Week is now available for FREE in our Newsroom: https://lnkd.in/ePhqKfHX #VLCCMarket #FreightRates #ShippingTrends #MaritimeEconomics #SuezmaxUpdate #OilTankerRates #MaritimeIndustry #ShippingVolatility #TankerMarket #GlobalShipping 

Low British LNG arrivals set to persist on tight TTF discount by ICIS Editorial LONDON (ICIS)—Britain is likely to continue to struggle to attract LNG cargoes over the third quarter due to unfavourable spreads between the NBP and continental markets. British LNG imports fell 82% year-on-year in April, continuing a consistent decline felt since January in a trend that has continued into May. This is likely linked to NBP discounts to continental hubs being insufficiently wide to incentivize exports to mainland Europe. Since the start of April, the NBP has traded at an approximate 1.8-4p/th discount to the TTF on Day-ahead contracts. As a result, the market is undesirable as an import destination, and with pipeline export fees to continental Europe starting at 2.84p/th this gas year, this is insufficient to support imports intended for re-exporting to continental markets. This spread is far smaller than the 10p/th NBP discount to the TTF seen on Day-ahead contracts in the same period last year. Similarly tight spreads are evident on contracts for delivery in the third quarter, which indicates continental exports are unlikely until at least the fourth quarter of 2024. An uptick in arrivals is possible if increased demand supports a rise in British prices relative to continental hubs, with storage demand a potential driver behind this. British storage facilities held 1.4bcm of gas on 29 May and were 58% full, approximately the same level as that date in 2022 and 2023, but much less full than elsewhere in Europe. If the market seeks to better hedge before winter by injecting into storage during the third quarter, this Q3 price spread may change in order to attract LNG shipments. However, as the UK is not an EU member and so is not bound by EU-mandated storage targets, there is no guaranteed incentive for capacity-holders to inject. #lngindustry #lng #lngshipping #gas #shippinindustry

“The port currently handles more than half of all U.S. crude oil exports and is also the top LNG point of export. Corpus Christi is expanding and deepening the shipping channel to accommodate very large crude carriers (VLCCs) and more traffic, with the port ‘Moving America’s Energy,’ as the port officials say. “Total U.S. crude oil exports have jumped to more than 4 million barrels per day (bpd) this year, per EIA data, up from just 400,000 bpd before the Obama administration repealed 2015 the ban on American crude oil exports. Before 2016, U.S. crude was exported only to Canada. After the ban was lifted, crude oil from the United States was allowed to flow to overseas markets. Since then, America’s crude has become a key commodity in the global oil market.” h/t Tsvetana Paraskova for OilPrice.com #energy #energyindustry #oil #oilindustry #oilgas #oilandgas #natgas #naturalgas #energystrong #shale #shaleoil #shalegas #hydrocarbons #haynesville #eagleford #stack #scoop #permian #permianbasin #delawarebasin #powderriverbasin #marcellus #uticashale #bakken #lng #woodford #woodfordshale #WTI #oilprice #trade #texas #texaseconomy #exports #commodities #CorpusChristi #CorpusChristiTX https://lnkd.in/gb2SANtQ

Tanker Market Monitor Chart of the Week:  VLCC Dirty tonne days In the final week of June, crude oil freight rates weakened significantly, especially on the VLCC AG-China and Aframax cross-Mediterranean routes, while the MR clean segment remained stable. Oil prices rose modestly due to escalating geopolitical tensions in the Middle East, despite concerns over weakening demand from increased U.S. crude stockpiles and declining Chinese imports. The Signal Ocean Tanker Market Monitor Chart of the Week is now available for FREE in our Newsroom: https://lnkd.in/gGz4DnP8 #VLCCMarket #FreightRates #ShippingTrends #MaritimeEconomics #SuezmaxUpdate #OilTankerRates #MaritimeIndustry #ShippingVolatility #TankerMarket #GlobalShipping 

Asia Fuel Oil-HSFO range-bound; more July tenders underway Asia’s high sulphur fuel oil benchmarks were range-bound on Wednesday, while more tenders were underway for cargoes loading in July. Kuwait’s KPC offered two spot cargoes of 380-cst HSFO for

The Red Sea issue has endangered supply networks and is driving up the price of consumer products. The increased frequency of Houthi vessel strikes has led Shell and other firms to decide against using the Red Sea shipping route. However, the Red Sea issue has not yet seriously impacted oil supply, limiting its influence on the markets. As a result, on January 17, Brent crude futures declined 1.6% to $77.03 per barrel despite escalating tensions in the Middle East. #security #redsea #energy #geopolitics #middleeast

𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐜𝐚𝐩 (𝐄𝐚𝐫𝐧𝐢𝐧𝐠𝐬) - 𝟗 𝐉𝐮𝐥𝐲 𝟐𝟎𝟐𝟒 Last week brought some interesting shifts in the shipping industry: 🔻 Panamax Bulkers: Spot rates continued to weaken. 🔽 Tankers: Spot rates softened across all sectors. 🔺 1-Year Time Charter Rates: Averaged growth of around 4.3% across all segments, with Handys gaining an impressive 8.4% week-over-week. ↘ LPG Spot Rates: Slightly softened, but the decline is slowing compared to June. ⏫ LNG Spot Rates: Firmed up significantly, continuing their recent upward trend. #Shipping #MaritimeIndustry #MarketUpdate #Logistics #Trade #VesselsValue Source: https://lnkd.in/eWJmBHBC