US House to vote on waterways bill
The US House of Representatives is expected to vote on 22 July on a waterways bill that would authorize new infrastructure projects across ports and rivers.
The Water Resources Development Act (WRDA) is renewed typically every two years to authorize projects for the US Army Corps of Engineers (Corps). The bipartisan bill is sponsored by representative Rick Larsen (D-Washington) and committee chairman Sam Graves (R-Missouri).
The full committee markup occurred 26 June, where amendments were added, and the bill was passed to the full House.
A conference committee will need to be called to resolve the different versions of the bill. The major difference between the bills is that the House bill does not include an adjustment to the cost-sharing structure for the lock and dam construction and other rehabilitation projects.
The Senate Committee on Environment Public Works passed its own version of the bill on 22 May, with all members in favor of the bill.
The House version of the bill approves modifications to the Seagirt Loop Channel near the Baltimore Harbor in Maryland, along with 11 other projects and 160 feasibility studies. One of these studies is a $314.25mn resiliency study of the Gulf Intracoastal Waterway, which connects ports along the Gulf of Mexico from St Marks, Florida, to Brownsville, Texas.
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Dangote refinery's diesel quality proves divisive
Dangote refinery's diesel quality proves divisive
London, 22 July (Argus) — Nigerian conglomerate Dangote Group has defended the quality of diesel output from its 650,000 b/d refinery near Lagos after the country's downstream regulator said it contained much higher levels of sulphur than imported product. Dangote said the sulphur content of its diesel is now as low as 88ppm, citing laboratory tests on a sample from the refinery's mild hydrocracking unit. The company issued the statement in response to claims from the head of the downstream regulator NMDPRA, Farouk Ahmed, that diesel from Dangote and some of Nigeria's small modular refineries lies between 650ppm and 1,200ppm. Dangote said it aims to achieve 10ppm diesel production this week, in line with Euro V specifications and lower than the 50ppm cap on west African imports, adding that the NMDPRA allows domestic refiners to produce up to 650ppm diesel until January next year. Since receiving its first crude feedstock cargo late last year, the refinery has exported low-sulphur straight run fuel oil, naphtha, gasoil and jet fuel via its offshore single point moorings, according to vessel trackers Vortexa and Kpler. The refinery also hosts its own truck-out gantries to load product for overland delivery. Farouk said the NMDPRA has not complied with a request from Dangote to suspend imports of middle distillates due to concerns around security of supply and market monopoly. Dangote has pushed back against the monopoly concerns, saying there are multiple players in the industry, including state-owned NNPC. Nigerian imports of diesel, jet fuel/kerosine, naphtha and fuel oil have declined since the Dangote refinery came online, falling to 8,600 t/d so far this year from 10,900 t/d across the whole of 2023, according to Vortexa data. Nigeria's gasoline imports have declined too, but at a slower pace — to 27,500 t/d from 30,200 t/d over the same period — reflecting the fact Dangote's gasoline production units have yet to start up. By George Maher-Bonnett and Adebiyi Olusolape Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Saudi’s Ma’aden sells DAP to Pakistan at $615/t cfr
Saudi’s Ma’aden sells DAP to Pakistan at $615/t cfr
London, 22 July (Argus) — Saudi Arabian phosphates producer Ma'aden sold 30,000t of DAP to a Pakistani importer at around $615/t cfr for shipment in August. The price nets back to the low-mid-$600s/t fob Ras Al-Khair. The buy side has said that the deal has not yet concluded. Pakistan's DAP stocks fell by over 50,000t at the end of June , the latest NFDC data show. But slow Indian buying allowed Pakistan to secure 110,000-115,000t of DAP last week at $605-610/t cfr from China, Morocco and Australia. Ma'aden earlier this month sold 25,000t of DAP to Pakistani importer Engro in the low-mid $560s/t cfr, netting back to the high $540s/t fob. By Adrien Seewald Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Egypt’s NCIC issues fertilizer sales tender
Egypt’s NCIC issues fertilizer sales tender
London, 22 July (Argus) — Egyptian fertilizer producer NCIC has issued a tender to sell 50,000t of fertilizers for loading by the end of August, closing on 26 July. The breakdown of the products offered is as follows: 30,000t of DAP 10,000t of TSP 5,000t of CAN 27 5,000t of urea The cargoes will be sold on fob basis. NCIC wants buyers to pay 30pc in advance, 40pc two days before the shipment date and 30pc in cash against documents. If paying through letters of credit, buyers can pay 30pc in cash in advance and the remaining 70pc by letter of credit. NCIC did not issue a tender to sell July-loading product. It reported selling 40,000t of DAP at $562/t fob and 30,000t of TSP at $435/t fob under its tender to sell June-loading product at the end of May. Since then, Egyptian DAP prices have risen to $610-620/t fob. NCIC reduced its DAP production rates to 80pc capacity last week because of low gas supplies. It had resumed DAP production earlier this month. Argus assessed TSP prices in Brazil at $505-515/t cfr last week, netting back to the $480s/t fob up to the low $490s/t fob Egypt. NCIC sold 5,000t of urea at $362/t fob and a further 5,000t at $367/t fob, reported last week . Argus understands NCIC stopped producing urea last week. There has been no indication that production has resumed. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
German diesel prices drop with demand low
German diesel prices drop with demand low
Hamburg, 22 July (Argus) — German middle distillate prices fell in the week to 19 July, as declining Ice gasoil futures coupled with low domestic demand. The extent of the price drop varied significantly across regions. Traders in areas with the lowest prices made only minor downward adjustments, while prices fell most sharply in those regions that were relatively expensive. This is because of varying supply and demand situations. At the Miro consortium's 310,000 b/d Karlsruhe refinery, oversupply of diesel has been decreasing steadily in recent weeks. The build up has led to a significant price drop at the end of June, but suppliers no longer seem compelled to significantly lower their prices to attract buyers. In southern Germany at Shell's 334,000 b/d Rhineland refinery, spot supply of diesel is being rationed. Scheduled maintenance work at the Bayernoil consortium's 215,000 b/d Neustadt-Vohburg refinery and a resulting shortage of spot offers are cushioning the price drop. Around the Rhineland refinery the price decrease was relatively small, as a previously defective plant for diesel production in the 147,000 b/d Wesseling part of the plant was only ramped up at the beginning of the past week. Spot offers will be limited until stocks are refilled, traders said. The largest price drop was in northern Germany, again primarily a result of diesel oversupply. Imports of diesel into northern Germany in July are at their lowest since February, as domestic supply is sufficient to meet regional demand. An importer said demand is so low that contract volumes imported by cargo are barely being sold. Another importer has reduced its barge term volumes in view of weak diesel demand. Importers are worried that the situation will not change fundamentally until at least autumn, when maintenance work begins at TotalEnergies' 236,000 b/d Leuna refinery and at the 187,000 b/d Godorf section of the Rhineland complex. By Johannes Guhlke Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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