Crane barge arriving at Baltimore bridge tonight

Spanish Market: Agriculture, Coal, Coking coal, Fertilizers, Freight, Metals, Oil products, Petroleum coke
28/03/24

The first major piece of equipment capable of beginning to clear the blocked Port of Baltimore, Maryland, is expected to arrive onsite tonight.

The Chesapeake 1000 crane barge, capable of lifting 1,000 short tons with its a 231ft-long boom, is expected to arrive at the site of the collapsed Francis Scott Key Bridge near Baltimore at 11pm ET on 28 March, the US Coast Guard (USCG) told Argus.

Both the crane and the tug pulling it, Atlantic Enterprise, are owned by Donjon Marine. It is currently the only crane on route to the collapsed bridge, the USCG said.

There is no official timetable for the reopening of the port after the Interstate 695 highway bridge over the Patapsco River was hit in the early hours of 26 March by a container ship and collapsed, with the debris and ship blocking the waterway.

The operator of the ship, Maersk, has contracted with marine salvage company Resolve Marine to refloat the vessel and remove it from the area, according to the USCG. It is not clear who has contracted for the Chesapeake 1000.

Despite the inbound crane, it could take weeks or even months to clear debris and reopen the waterway under the collapsed bridge according to a engineering professor at the nearby Johns Hopkins University.

By Nathan Risser

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

09/05/25

Indonesia threatens to stop oil imports from Singapore

Singapore, 9 May (Argus) — Indonesian market participants have reacted with caution to a call by the country's energy minister to stop all oil imports from Singapore. Energy and mineral resources minister Bahlil Lahadalia said on 8 May that Indonesia should stop purchases from Singapore and instead buy directly from oil producers in the Middle East, according to media reports that were confirmed by several Indonesian market participants. Discussions are taking place but there is so far no official statement from the ministry nor any direction from managers in the oil industry, one market participant said. "None of us are taking it seriously" and it is still "business as usual", the official said. The regional trading hub of Singapore is a major supplier of oil products to Indonesia, and any end to shipments from the country would upend trade flows. Singapore is the biggest gasoline supplier to Indonesia, accounting for more than 60pc of total shipments, according to customs data. Singapore exported 236,000 b/d of gasoline to Indonesia in 2024, with Malaysia a distant second at 79,500 b/d. Singapore is also one of Indonesia's top gasoil and jet fuel suppliers, shipping over 54,000 b/d of gasoil and 8,300 b/d of jet fuel to the country in January-April this year, according to data from government agency Enterprise Singapore. The government has already begun to build docks that can accommodate larger, long-haul vessels, Bahlil said, according to state-owned media. Any move by Indonesian importers to switch purchases to the Mideast Gulf would increase the replacement cost of supply because of higher freight rates, said market participants. Indonesian buyers are currently negotiating term contracts on a fob Singapore basis, so a sudden cut in supplies would not be feasible. The term contract is due for renewal soon, traders said. State-owned oil firm Pertamina, the dominant products importer, is expected to begin term negotiations for its second-half 2025 requirements in May-June. A decision by Indonesia to end imports from Singapore would cut regional gasoline demand but could be bullish for the market overall, given the extra logistics required to blend elsewhere and ship into southeast Asia. The Mideast Gulf currently supplies mainly Pakistan and Africa, with just 15pc of gasoline exports from the region heading towards Indonesia and Singapore in 2024, according to data from ship tracking firm Kpler. Indonesia's energy ministry (ESDM) did not immediately reply to a request for confirmation of Bahlil's comments. They came a day after the country's president Prabowo Subianto called for Indonesia to become self-sufficient in oil in the next five years. Indonesia has also proposed raising energy imports from the US as part of talks to reduce import tariffs threatened by president Donald Trump. Indonesia is considering boosting imports of crude, LPG, LNG and refined fuels in order to rebalance its trade surplus and ease bilateral tensions, government officials have said. By Aldric Chew and Lu Yawen Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Q&A: US' ACE Green bets on LFP batteries

09/05/25

Q&A: US' ACE Green bets on LFP batteries

Singapore, 9 May (Argus) — US-based battery recycler ACE Green Recycling has been focusing on the US market, particularly its upcoming Texas recycling site, and plans to run its lead-acid and lithium-iron-phosphate (LFP) battery recycling operations alongside each other in Texas. Argus spoke with ACE Green Recycling's vice-president of investments and strategy, Aaron Wee, about their Texas site, battery recycling gate fees in Europe and the black mass market. The interview is split into two parts and part two's edited highlights follow: What's your view on the US market? The US market for lead is [one of] the most attractive market in the world. It's where you can find possibly some of the cheapest scrap batteries for lead, and also get some of the highest premiums on refined and alloyed lead. In terms of lithium, obviously the US is either the second- or the third-largest economy for [electric vehicles] and lithium batteries in general. Nowadays, with the improvements in LFP battery technology, the range and energy density problems of the past are now not really an issue. We sort of predicted the shift towards LFP quite some time ago. Back when the recyclers were concerned about nickel-manganese-cobalt (NMC) because we're going to get nickel, we're going to get cobalt. That was a relatively easy win for a lot of recyclers. But for us, LFP was always going to be the battery of the future. In fact, in our Texas project, we've already [begun the process of acquiring] the land and the facilities to combine both our battery recycling technology stacks and to co-locate them in a single location. But lead will start first because lead is going to make money tomorrow. LFP might take a little bit of time before feedstock actually comes in. What does ACE think of gate fees, especially in Europe? Does it distort the long-term consideration when setting up battery recycling operations? From a commercial point of view, I think depending on the battery type, that would be €500-800/t of batteries for gate fees in Europe. This may or may not hold over the next couple of years as more recycling capabilities are deployed in Europe. We won't say no to just getting money to recycle them. But our ultimate goal is not to rely on gate fees as a commercial strategy. Moving forward, I don't think any company can rely on gate fees as a strategy. It just won't be tenable. Eventually, somebody's going to be able to do it cheaper and better than you. And if you rely on gate fees, that's the end game right there. Gate fees are usually correlated with the price of lithium. [If] the price of lithium goes up, then recyclers won't [need to] rely on [gate fees]. Chances are we're going to be looking at maybe $12,000/t of lithium carbonate, [or] maybe $11,000 by the end of this year. What does ACE feel about the current pricing mechanism of black mass, battery scrap or even lithium? The correlation between lithium prices and black mass is very strong. But black mass as a commodity is a little bit trickier to export to China because of the regulations. Once they accept black mass [imports], especially LFP black mass, that will have a significant change. There will also perhaps be a fall in prices in the rest of the world because now they can sell to China, not just internally in their own domestic markets. Depending on how trade barriers may or may not come up over the next couple of months, we should see a shift in how black mass is priced. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU consults on tariffs for €95bn US imports

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.

New Zealand’s Fonterra starts electrode boiler

09/05/25

New Zealand’s Fonterra starts electrode boiler

Sydney, 9 May (Argus) — New Zealand dairy co-operative Fonterra has turned on an electrode boiler at its Edendale plant and commissioned two more. This will help reduce CO2 equivalent (CO2e) emissions by 72,800 t/yr from 2027. The co-operative's three boilers will replace coal-fired systems and be powered by renewable energy generated at Edendale, it said on 7 May. Emissions reductions from the plant will account for 4pc of Fonterra's target of a 50.4pc reduction in scope 1 and scope 2 emissions relative to 2018 levels by 2030. The co-operative has committed NZ$70mn ($41.3mn) to build the Edendale boilers, with additional co-funding from New Zealand's Energy Efficiency and Conservation Authority (EECA). Fonterra's on-farm emissions are excluded from New Zealand's emissions trading system , but its coal boilers fall under the scheme. The co-operative has been moving away from coal boilers since 2018, reducing its CO2e emissions by 200,400 t/yr through six conversions. Fonterra has converted coal boilers into wood-fired and electrode boilers in collaboration with EECA. Its 2020 Te Awamutu coal-to-biomass boiler conversion led to a 98.4pc decline in CO2e emissions, from 90,395 t/yr to 1,425 t/yr, according to an EECA study. Fonterra was looking for 80,000-100,000t of Vietnamese wood pellets on a one-year contract starting in mid-2025 as it moves away from fossil fuels to renewables, market participants told Argus in December 2024. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

HSFO defies the green tide

08/05/25

HSFO defies the green tide

New York, 8 May (Argus) — High-sulphur fuel oil (HSFO), once seen as a fading relic, is proving remarkably resilient (see table) despite the maritime sector's push toward decarbonization. The fuel remains economically attractive thanks to persistent scrubber investments and regulatory frameworks that fail to fully penalize its use. Under the EU notation, HSFO and very low-sulphur fuel oil (VLSFO) are assigned the same calorific and greenhouse gas emission values. This equivalence means that ships fitted with scrubbers — systems that strip out sulphur oxides — face no additional penalties for choosing HSFO over VLSFO. As a result, greenhouse gas fees under FuelEU Maritime and the EU emissions trading system (ETS) offer no disincentive for scrubber users to stick with cheaper HSFO. In March 2025, the VLSFO-HSFO spread in Singapore narrowed to just $44/t, the lowest since the IMO 2020 sulphur cap took effect. At that level, a scrubber on a capesize bulker pays for itself in under two years. When the spread averaged $122/t in 2024, the payback period was about eight months. Even in regulated markets like Europe, economics favor HSFO. Under the EU ETS, ships operating in, out of or between EU ports must pay for 70pc of their CO2 emissions in 2025. In Rotterdam, bunker prices including ETS surcharges still favor HSFO: $575/t for HSFO, $605/t for VLSFO, and $783/t for a B30 Used cooking oil methyl ester blend. While biofuels, methanol and LNG are inching forward in market share, they remain cost-prohibitive. In the meantime, HSFO, with scrubber backing, continues to punch above its environmental weight. By Stefka Wechsler Selected ports marine fuel demand t % Chg 1Q 25-1Q 24 1Q 2025 less 1Q 2024 1Q 2025 1Q 2024 Singapore HSFO 1.0% 33,160.0 4,898,372.0 4,865,212.0 VLSFO/ULSFO -13.0% -1,005,951.0 6,829,667.0 7,835,618.0 MGO/MDO -5.0% -49,012.0 907,874.0 956,886.0 biofuel blends 187.0% 237,552.0 364,418.0 126,866.0 LNG 34.0% 25,935.0 101,856.0 75,921.0 Rotterdam HSFO 1.0% 11,169.0 829,197.0 818,028.0 VLSFO/ULSFO 14.0% 118,670.0 976,249.0 857,579.0 MGO/MDO 3.0% 9,662.0 393,071.0 383,409.0 biofuel blends -60.0% -158,597.0 104,037.0 262,634.0 LNG 7.0% 7.0 104.0 97.0 Panama HSFO 22.0% 65,266.0 362,388.0 297,122.0 VLSFO/ULSFO 25.0% 177,296.0 878,776.0 701,480.0 MGO/MDO 22.0% 27,097.0 150,980.0 123,883.0 — Maritime and Port Authority of Singapore, Rotterdam Port Authority and Panama Canal Authority Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more