|SHIPPING RATES & BUNKERS ( 9:30 am ET )|
|DIRTY TANKER (KT - $/day)||VOYAGE||SPOT TCE EARNINGS||2018 AVG. RATE|
|CLEAN TANKER (KT - $/day)||VOYAGE||SPOT TCE EARNINGS||2018 AVG. RATE|
|TIME CHARTER (KDWT)||1YR ECO RATE ($/day)||NEWBUILD PRICE ($M )||SECONDHAND 5YR PRICE ($M)|
|VLCC , 200+||26,000||88.0||61.0|
|US FLAG (KT - $/day)||VOYAGE||WEEKLY SPOT RATE||2018 AVG. RATE|
|LNG ($/day)||WEEKLY SPOT RATE||CURRENT MONTH RATE||2018 AVG. RATE|
|160M3 Tri-fuel diesel electric (West)||74,000||74,000||66,452|
|138-150M3 Steam turbine (West)||56,000||56,000||46,097|
|160M3 Tri-fuel diesel electric (East)||63,000||63,000||55,484|
|138-150M3 Steam turbine (East)||44,000||44,000||36,581|
|LPG (KT)||LAST POSTED SPOT RATE ($/mt)||SPOT TCE RATE ($/day)||1yr TIME CHARTER RATE ($/day)|
|VLGC, 44 (AG-Japan)||39.21||21,053||17,270|
|BUNKERS ($/mt)||IFO 380||MDO|
Oil supplies to Canada will not be affected by diplomatic row, says Saudi Energy Minister.
The Kingdom, responding furiously to Canada's demand that jailed activists be released immediately, expelled the Canadian ambassador, blocked imports of Canadian grain and ended state-sponsored educational and medical programs in Canada. Riyadh reassured its oil customers in Canada after it froze new trade and ruled out mediation efforts. When it comes to oil, Saudi Arabia has a "firm and long-standing policy" that petroleum supplies are not influenced by political considerations, said Minister Khalid al-Falih. The current diplomatic crisis will not, in any way, impact Saudi Aramco's relations with its customers in Canada, he added. Bilateral trade between the two countries is worth more than $3B a year.
DHT considers funding VLCC scrubber project.
The shipowner is working with Alfa Laval to retrofit scrubbers on 12 VLCCs built between 2004 and 2012. Capital expenditure on the project hits $55M, with yard space secured to complete all of the dry-dockings in 2019. Co-chief executive Svein Moxnes Harfjeld said many proposals to finance the project have been received. Based on the present fuel price spread, he says a standard VLCC fitted with a scrubber will have a $12,000 per day advantage on a TCE basis and the payback on such investments may be less than one year. According to Evercore, 14 of DHT's 27 VLCCs are set to be scrubber-ready by the beginning of 2020.
Danish offshore wind powerhouse Orsted to acquire US firm Lincoln Clean Energy (LCE).
The deal gives the US firm a value of $580M. Orsted said LCE had an "attractive" portfolio, including 513 MW of recently commissioned wind and solar assets. Meanwhile, Orsted has installed 5.1 GW of offshore wind capacity in Europe, with 3.8 GW currently under construction. LCE's current management team will continue to run the company as it would exist as a separate unit outside of the Danish firm's wind power business. The transaction remains subject to approval from US competition authorities and is expected to close before year-end.
US coal cargoes head to China as Beijing prepares for new tariffs.
At least four cargoes of US coal worth $30M are headed to China as Beijing prepares to hit imports with 25% tariffs, threatening a niche supply of the fuel. The vessels, carrying a combined 335,000 tons of coal, are the only confirmed US cargoes en-route to China and are scheduled to arrive in time to avoid new duties. Last night, China published its final list of US items worth $16B in imports that will incur an additional 25% tariff, including coal. These penalties are set to take effect on Aug. 23. The US shipped 3.2MT of coal to China last year, up from less than 700 tons in 2016.
|COMMODITIES, (9:20 am ET )|
|CRUDE||SOURCE||UNIT||LAST PRICE||Δ PRIOR DAY CLOSE|
|PRODUCTS||SOURCE||UNIT||LAST PRICE||Δ PRIOR DAY CLOSE|
|NATURAL GAS||SOURCE||UNIT||LAST PRICE||Δ PRIOR DAY CLOSE|
|US Henry Hub||NYMEX||$/MMBtu||2.95||0.00|
|UK National Balancing Point||ICE||$/MMBtu||7.79||0.03|
|NATURAL GAS LIQUIDS||SOURCE||LAST PRICE (₵/gal)||LAST PRICE ($/mt)||Δ PRIOR DAY CLOSE(₵/gal)|
|US Mont Belvieu Propane (Spot)||Bloomberg||96.25||501.72||-2.87|
|PRICE SPREADS ($/bbl)||SOURCE||LAST PRICE||Δ PRIOR DAY CLOSE|
|Brent 3-2-1 Crack||ICE||10.60||-0.23|
|MARKETS, ( 9:20 am ET )|
|EQUITIES||REGION/COUNTRY||LAST VALUE||Δ PRIOR DAY CLOSE|
|S&P 500||United States||2,857.70||-0.75|
|FTSE 100||United Kingdom||7,729.82||-46.83|
|CURRENCIES||REGION/COUNTRY||LAST VALUE||Δ PRIOR DAY CLOSE|
DOE US INVENTORY (mb)
|Product||Week ended Aug 3||Δ Prior week||Δ Prior year|
EIA US WEEKLY ENDING STOCKS OF CRUDE OIL & PETROLEUM PRODUCTS
(Aug 4, 2017 - Aug 3, 2018)