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Texas, Louisiana ports close due to winter storm

  • Market: Freight
  • 21/01/25

Ports in Texas and Louisiana remained closed to shipping traffic Tuesday morning due to a winter storm, a shipping agent said.

Marine pilots suspended boardings at the Texas ports of Houston, Galveston, Texas City and Freeport late on 20 January. Traffic also was halted at the Sabine-Neches Waterway on the Texas-Louisiana border, which offers access to terminals and refineries in Port Arthur and Beaumont, Texas, as well as Cheniere's Sabine Pass liquefied natural gas terminal.

Pilots also halted traffic at the Louisiana port of Lake Charles late on 20 January.

A blizzard warning from the US National Weather Service remains in effect until 1pm ET Tuesday for southeast Texas and southwest Louisiana, including Beaumont, Lake Charles and Cameron, Louisiana.


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15/05/25

Global dry bulk trade to contract in 2025: Star Bulk

Global dry bulk trade to contract in 2025: Star Bulk

New York, 15 May (Argus) — Dry bulk shipowner Star Bulk projects the total volume of global dry bulk volumes to fall by 1.2pc in 2025, largely due to lower global dry bulk exports to China Coal is projected to suffer the largest declines in global export volumes among major bulk commodities as China and India's domestic coal production growth is outpacing its consumption growth, creating downside risks for 2025 imports, according to Star Bulk. The global coal trade is expected to fall by 3.2pc on the year, down to 1.3bn t for 2025. China is also trying to increase its own grain productionand is "engaging in [genetically modified] crops" which will put downward pressure on its seaborne grain imports, according to Star Bulk. The global grain trade is projected to decline by 2.1pc on the year, down to 524mn t in 2025. For global iron ore exports the outlook is less clear. Low Chinese domestic production and stocks may increase demand but rising protectionist measures from steel-importing nations could curb Chinese steel production for the coming quarters, according to Star Bulk. Increases in minor bulk exports, such as bauxite or fertilizers, will rise on the year but not enough to mitigate decreases in major bulk volumes. The volume of minor bulk trade is expected to grow by 0.4pc on the year, driven by higher bauxite exports out of west Africa. Star Bulk's fleet consists of 150 bulk carriers including 17 Newscastlemaxes, 16 Capesizes, 38 Kamsarmaxes and 48 Ultramaxes. Star Bulk reported a first quarter profit of $462,000, down from $74mn in the same quarter the previous year. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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EU consults on tariffs for €95bn US imports


09/05/25
News
09/05/25

EU consults on tariffs for €95bn US imports

Brussels, 9 May (Argus) — The European Commission is consulting on an extensive list, worth €95bn ($107bn), of US industrial, agricultural and other imports that could be subject to tariff countermeasures. The long list includes extends from livestock, biofuels, wood pellets to metals, aircraft, tankers and polymers . The consultation runs until midday on 10 June. It is aimed at stakeholders affected by US measures and possible EU rebalancing measures. Also considered for possible countermeasures are restrictions, worth €4.4bn, on EU exports to the US of steel, iron and aluminium scrap, as well as toluidines, alcoholic solutions and enzymes (CN codes 7204, 7602, 292143, 330210 and 350790). The commission linked the possible new measures to US universal tariffs and to Washington's specific tariffs on cars and car parts. The commission said the public consultation is a necessary procedural step. It does not automatically result in countermeasures. The EU also launched a WTO dispute procedure against the US for Washington's universal tariffs, set at 20pc for EU goods and currently paused at 10pc, and at 25pc on all imports of vehicles and car parts. The commission will need approval by EU governments under a simplified legislative procedure. Officials say this will complete a legal act for the countermeasures, making them "ready to use" if talks with the US do not produce a "satisfactory" result. The list of products potentially targeted includes livestock, along with items ranging from spectacles to antiques. The 218-page list includes a range of agricultural and food products including oats, maize, and cereal pellets. Also included are biodiesel and wood pellets (CN codes 38260010, 44013100), as well as paper and cotton products. Aluminium, iron, steel are listed together with a wide range of other goods from gas turbines, ships propellers and blades, aircraft, sea-going tankers and other vessels. Polymers, copolymers, polyesters and other products are not spared (CN codes 39039090 and more). On 10 April, the EU paused its reciprocal tariffs against the US for 90 days, responding to a US pause. The EU notes that €379bn, or 70pc, of the bloc's exports to the US are currently subject to new or paused tariffs. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Scorpio Tankers' profits plunge in January-March


07/05/25
News
07/05/25

Scorpio Tankers' profits plunge in January-March

Singapore, 7 May (Argus) — New York-listed shipowner Scorpio Tankers' net income and time charter equivalent (TCE) revenue plunged by 76pc on the year in January-March, because of lower average daily TCE rates and a reduced fleet size. Scorpio's adjusted net income was at $49mn in the first quarter, down sharply from $206.6mn in the first quarter of 2024. The TCE rate for Scorpio's fleet decreased to $23,971/d in January-March from $39,660/d a year earlier. The company projects the TCE rate for the second quarter at $26,139/d. The company in early 2024 reported favourable market conditions, because of rising consumption and high export volumes. Disruptions in the Red Sea had prompted much of the global shipping fleet to divert around the Cape of Good Hope, and this rerouting significantly boosted tonne-mile demand. This boosted average daily spot TCE rates for the company's Long Range 2 (LR2) vessels, which are primarily used for these extended routes, to record highs during the first quarter of 2024. Red Sea transits remained limited throughout 2024, but global refined oil product supply chains adjusted, so tonne-mile demand fell to more typical levels during the second half of 2024 and into early 2025, according to Scorpio Tankers. Concurrently, refinery maintenances took place earlier than usual, peaking in February and March, which contributed to a drop in refined product exports. The company also said the average number of vessels operated was 99 during the three months ending 31 March, down from 110.9 during the same period in 2024. This contributed to Scorpio Tankers' lower TCE revenues in the first quarter of 2025. Scorpio's fleet consists of 99 ships, comprising 38 LR2 vessels, 47 Medium Range (MR) ships and 14 Handymaxes. The fleet's weighted average age is approximately 9 years. By Sureka Elangovan and Lisa Cheng Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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US' Chinese ship port fee decision Thursday: USTR


16/04/25
News
16/04/25

US' Chinese ship port fee decision Thursday: USTR

New York, 16 April (Argus) — The US Trade Representative's (USTR) office said it will release details Thursday on proposed fees for operators of Chinese-built ships calling at US ports. The closely-watched proposals — part of President Donald Trump's plan to kick-start a flagging US shipbuilding industry and challenge Chinese dominance in the sector — were the subject of hearings and public comments last month in Washington, DC. The original proposal included fees of up to $1.5mn per port call for ships based on the percentage of Chinese-built vessels in an operator's fleet. Shipping market participants said the proposals could significantly curtail US import and exports and hurt the broader economy. Higher costs for shipping would likely be passed on to US consumers . Since the public hearings, the USTR has signaled that the fees would likely be less onerous than under the original proposal, and that not all of them would be implemented . By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Japan’s Honda to produce more cars in US, less locally


16/04/25
News
16/04/25

Japan’s Honda to produce more cars in US, less locally

Tokyo, 16 April (Argus) — Japanese car producer Honda will produce a car model at its US facility instead of its domestic facility from as early as June, the company told Argus today, possibly to avoid the US' tariffs on foreign car deliveries. Honda will stop manufacturing the Civic Hybrid 5-door model at the country's eastern Yorii plant during June-July and switch the production to its US plant in the state of Indianna, the representative of the firm told Argus . Honda produced 3,000 units of the model during February and March, he added. This comes as part of the company's mid-to long term "optimisation strategy", according to the firm, reiterating that theproduction switch is not a countermeasure against the US' across-the-board 25pc tariff on automobile imports that took effect on 3 April. But this may not be entirely convincing since Honda just started producing the model in February, leaving room for speculation that the transfer is part of a wider strategy to reduce delivery costs to the US market. Honda did not disclose whether the Indiana plant will procure auto parts from its suppliers in Canada or Mexico . Japanese auto industry is still bracing for further developments in the US tariff policy on automobile and auto parts, although US president Donald Trump on 14 April suggested possibly pausing the tariff. Tokyo and Washington will hold a ministerial talk this week to negotiate trade issues, including the levy on auto delivery, along with the 24pc "reciprocal" tariffs the Trump administration separately imposed on Japanese imports. Japanese government is hoping to negotiate for a better tariff deal during the 90-day pause on the reciprocal tariff imposition by the US government, and the automobile industry is seen as a key sector to settle the deal. The US president has long expressed his dissatisfaction against the auto trade imbalance between two countries. Japan exported around 1.3mn units of passenger vehicles to the US in 2024, while Japan purchased around 23,000 units of US passenger vehicles in 2023. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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