Louisiana, Mississippi ports still closed as Ida passes
Ports in Louisiana and Mississippi remained closed this morning as the remnants of Hurricane Ida move inland after coming ashore near Port Fourchon, Louisiana, yesterday.
New Orleans, Baton Rouge, Plaquemines, South Louisiana, St Bernard and the Venice Port Complex in Louisiana all remain closed to traffic as of 10am ET. The Mississippi ports of Biloxi, Gulfport, Pascagoula and Port Bienville, also remain closed according to the US Coast Guard.
The port of Mobile, Alabama, remained closed to inbound traffic, and the Florida ports of Panama City, Pensacola and St Joe remained in storm conditions but were open to all vessel traffic.
The Louisiana ports of Lake Charles and Cameron were last night set to recovery conditions, with 38ft draft restrictions implemented in both ports, after closing to inbound traffic late 28 August.
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Hengyuan's Malaysian refinery completes LRCCU repairs
Hengyuan's Malaysian refinery completes LRCCU repairs
Singapore, 4 July (Argus) — China-based independent Hengyuan Refining (HRC) has completed repairs at the long residue catalytic cracking unit (LRCCU) at its Malaysian 156,000 b/d Port Dickson refinery on 30 June. The LRCCU was shut after a leakage at a carbon monoxide boiler on 19 June. It is a gasoline production unit and typically uses residual fuel as a feedstock to produce full-range catalytic cracked gasoline (CCG). Inspection activities for HRC's hydrogen manufacturing unit and Euro4Mogas facilities were also complete. The refinery has restarted the units and is "recovering to its normal operational level", said HRC. The LRCCU issue had prompted HRC to offer rare and prompt straight-run fuel oil cargoes, and buy gasoline cargoes for June and July loading. The Port Dickson refinery houses two crude distillation units, a LRCCU, two naphtha treaters, a merox plan, two reformers and a gasoil treatment plant. Approximately 85pc of its oil products are sold domestically in Malaysia. By Aldric Chew Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
India’s Hindustan Zinc seeks imported thermal coal
India’s Hindustan Zinc seeks imported thermal coal
Singapore, 4 July (Argus) — Indian private-sector metals and mining company Hindustan Zinc is seeking up to 300,000t of thermal coal imports through a tender that closes on 8 July. The company wants imported coal of any origin in cargo sizes of 55,000t, 75,000t, 100,000t, 120,000t or 150,000t of unspecified calorific value (CV) to be delivered by August or the first half of September. It is seeking offers for coal preferably priced on a dap basis, but is open to receiving offers on fob, cfr or cif basis to Kandla, Dahej or Mundra ports on India's west coast. It would take at least two cargoes of imported coal. Hindustan Zinc wants coal with a sulphur content of less than 3pc on an air-dried basis. Total moisture levels should be 8-21pc. Typical ash content for high-ash coal should be up to 24pc with rejection level at 27pc, while the typical ash content for low-ash coal is at 12pc, with rejection limit at 13pc. Volatile matter should range 20-42pc. Prospective bidders should submit their applications by 8 July, with validity until 11 July. Interested bidders have to register on the auction portal — https://hzl.supplier.ariba.com — to participate in the tender. Stock and sale Hindustan Zinc is also seeking up to 20,000t of imported thermal coal with a typical CV of more than NAR 5,800 kcal/kg coal, with a minimum of NAR 5,500 kcal/kg, from stock and sale traders through the same tender. The company would prefer the stock-and-sale coal to be of South African origin that can be supplied at the earliest. The company would try to lift the cargo from a port on west coast of India within 45 days of award of the tender. The stock-and-sale coal should have high fixed carbon and low volatile matter content. The typical fixed carbon level should be at 50pc with rejection limit at 45pc, while volatile matter should be at 23pc with rejection limit set at 26pc. Typical ash level should be at 18pc, with the rejection limit at 22pc. Total moisture should be between 5-12pc. Hindustan Zinc is seeking the imported and stock-and-sale coal cargoes for its captive power plants, which have a combined capacity of 505.5MW. By Nadhir Mokhtar Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Japan’s domestic EV sales fall in 1H 2024
Japan’s domestic EV sales fall in 1H 2024
Tokyo, 4 July (Argus) — Japanese sales of domestic passenger electric vehicles (EVs) in the first half of the year fell sharply from the same period a year earlier. Sales totalled 29,282 units during January-June, down by 39pc on the year, according to preliminary data from industry group the Automobile Dealers Association, the Japan Light Motor Vehicle and Motorcycle Association and the Japan Automobile Importers Association (JAIA). The share of EVs in the total passenger vehicles sales was 1.6pc, down by 0.7 percentage points from a year earlier. The sharp fall is mostly attributed to a decline in light passenger EV sales, which fell by 45pc on the year to 13,540 units. This is largely because the sales of Nissan's Sakura, one of the top-selling models in the market with a share of around 90pc, fell to 12,082 units, down by 38pc from a year earlier. Light cars are defined as vehicles with a length, height and width of less than 3.4m, 2m and 1.48m respectively and an engine capacity below 0.66 litres, which is the Japanese standard. Sales of ordinary passenger EVs also fell to 15,742 units, down by 31pc from a year earlier. The rate of decline was lower than that of light passenger EVs because of imported passenger EVs, for which sales increased by 16pc on the year to 10,689 units. Foreign EVs account for around 68pc of ordinary passenger EV sales. Foreign brands are dominating Japan's EV market by "offering wider variety of models than domestic manufacturers," according to a representative of JAIA that spoke to Argus . BMW in June introduced its MINI's EV model to the Japanese market, but the sales volume was undisclosed. Domestic EV sales in June totalled 5,010 units, down by 37pc, marking eight consecutive months of year-on-year declines. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Brazil ups 2024-25 crop farm loans by 10pc
Brazil ups 2024-25 crop farm loans by 10pc
Sao Paulo, 3 July (Argus) — Brazil's subsidized farm loan program for medium and large producers in the 2024-25 season will rise by 10pc from the prior season. The federal government will offer R400.6bn ($71.7bn) in loans to producers, up from R364.2bn in the 2023-24 season. The loans offered under the program, known as Plano Safra, are destined for the crop year starting on 1 July and ending on 30 June 2025. The total amount set for funding operational costs and commercial transactions is set to rise by 8pc on the year to approximately R293.3bn. The remaining R107.3bn are intended for investments, a 16.5pc yearly increase. Farmers will also be able to count on credit lines and bond issuances, which are set to add another R108bn in available resources. Interest rates for investments vary from 7-12pc/yr, depending on the loan, which compares with Brazil's basic interest rate Selic of 10.5pc/yr. For those under the Pronamp program, which is available to medium-sized farmers, interest rates for funding and commercial transactions were fixed at 8pc/yr. Rates were at 5-12.5pc/yr under the 2023-24 program, while the national interest rate was at 13.75pc/yr at this time last year. The RenovAgro credit line — aimed at financing sustainable agricultural practices that reduce greenhouse gas emissions — continues with an interest rate of 7pc/yr. The federal government will also offer R76bn in loans to small-sized farmers, up by 6.2pc from the prior program. Considering small, medium and large farmers, the loans under the federal program total R475.5bn, a 9pc increase from R435.8bn in the previous cycle. By Nathalia Giannetti Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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