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Major NOLA terminals closed for winter storm

  • : Agriculture, Biofuels, Chemicals, Coal, Crude oil, Metals, Oil products, Petroleum coke
  • 25/01/21

The port of New Orleans remains closed on Tuesday afternoon due to US Gulf coast snow storms, causing terminals to shut or declare force majeures.

Port officials cut off water supplies to port facilities beginning 19 January because of freezing temperatures, significant snowfall and high winds forecast by the National Weather Service (NWS). Operations are expected to be down at least for the rest of today.

Host's United Bulk Terminal location at Nola declared force majeure on 20 January because of an expected 3-6 inches of snowfall. The port of Lake Charles in Louisiana also closed on 20 January and the Sabine-Neches Waterway on the Texas-Louisiana border was closed on 21 January.

Associated Terminals at Nola closed its doors early on 21 January due to the storm. The company said vessels will be discharged once weather conditions improve and personnel are able to return to the site, but did not give a specific date.

Major barge line ARTco, the transportation arm of ADM, shut down operations as well and is anticipated to return to 22 January if weather permits.

CGB Barge has also halted operations in New Orleans and is waiting for conditions to improve before resuming work.

Arctic conditions are anticipated at the port through Thursday, according to the NWS. Travel will be hazardous due to the snow, ice and wind chill of up to 20mph.


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25/05/12

Tata UK lambasts importers' TRA submissions

Tata UK lambasts importers' TRA submissions

London, 12 May (Argus) — Claims by the International Steel Trade Association and importers in the Trade Remedies Authority's (TRA) safeguard review are "factually incorrect", Tata Steel UK has said Importers have stated — accurately — that Tata does not produce 2m-wide hot-rolled coil, or material with a tensile strength of over 500 megapascal, so these products should not be under the scope of the safeguard. In a rebuttal submission released by the TRA today, Tata said such specifications "constitute a small proportion of the overall market", and that current quotas are more than sufficient to provide import choice. Should these grades be excluded from the safeguard, Tata — which is effectively a re-roller until its electric arc furnace becomes operational — said importers could circumvent the safeguard, importing higher grades "at much lower prices" to compete with material produced and sold by Tata. Tata said wider coil is "often imported only to be slit into narrower cuts", meaning it is not fundamentally different from material it sells domestically. Some applications do require decoiled 2m-wide material, but Tata suggests this is a small proportion of the overall market. No end-users have raised concerns regarding supply of such material, Tata said, adding that sufficient tonnes could be imported from the EU or Turkey, origins with quotas that are "consistently underutilised quarter after quarter". Buyers just want such products to be excluded so they can "access significantly lower-priced imports", it said. Tata has requested quotas be amended in line with the demand reduction seen in recent years, and that caps are implemented on other countries' quota for hot-dip galvanised. Should a cap of 25pc be imposed, which is what the market anticipates, some traders said material currently on route to the UK could still be clearing in January 2026. The TRA is expected to release its initial findings this week. By Colin Richardson Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Australian PM reaffirms climate priority in new cabinet


25/05/12
25/05/12

Australian PM reaffirms climate priority in new cabinet

Sydney, 12 May (Argus) — Australian prime minister Anthony Albanese has reaffirmed renewable energy commitments with cabinet picks after the Labor party's election victory on 3 May. Chris Bowen, who led key changes to the safeguard mechanism , the capacity investment scheme (CIS) and fuel efficiency standards for new passenger and light commercial vehicles, remains minister for climate change and energy. Madeleine King, the minister for resources and northern Australia, retains her cabinet position, while Tanya Plibersek, previously the minister for environment, is now the minister for social services and is replaced by Murray Watt, formerly the minister for workplace relations. In the previous term, Plibersek failed to establish an environment protection authority and reform the Environment Protection and Biodiversity Conservation Act, which was an election promise in 2022, after intervention from Western Australian state minister Roger Cook. Environmental lobby group the Australian Conservation Foundation (ACF) has welcomed Watt, who was also the minister for agriculture for two years to 2024, into his new role. "Having a former agriculture minister in environment increases the opportunities for co-operation on the shared challenges facing nature protection and sustainable agriculture," the ACF said. The ACF also welcomed Chris Bowen in returning to his role as environment minister for his "clear mandate" to continue the energy transition. Josh Wilson remains assistant minister for climate change and energy. Participants in the renewable energy carbon credit industry are urging the new Department of Climate Change, Energy, the Environment and Water to speed up the creation of new Australian Carbon Credit Unit (ACCU) methods in the new government term. They are also seeking greater transparency in ACCU data base , which requires legislative change. And renewable energy companies and lobby groups will be closely following a review of Australia's National Electricity Market wholesale market settings , which will need to be changed following the conclusion of the CIS tenders in 2027 and as Australia transitions to more renewables from its ageing coal-fired plants. By Grace Dudley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Saudi Aramco cuts dividend after fall in 1Q profit


25/05/12
25/05/12

Saudi Aramco cuts dividend after fall in 1Q profit

Dubai, 12 May (Argus) — State-controlled Saudi Aramco has announced a sharp cut to its quarterly dividend after reporting a 5pc year-on-year decline in profit for the first three months of 2025. The company's profit fell to $26.01bn in January-March from $27.3bn in the same period last year after lower oil prices squeezed revenues. Aramco said its bottom line was also hit by higher operating costs. The company said it sold its crude for an average $76.30/bl in January-March, down from $83/bl the first quarter of 2024. "Global trade dynamics affected energy markets in the first quarter of 2025, with economic uncertainty impacting oil prices," Aramco's chief executive Amin Nasser said. The company said its overall dividend for the quarter will be $20.61bn, down from $31bn in the corresponding period in 2024. The steep drop is due to the performance-linked element of the dividend being slashed to just $219mn for the quarter, from $10.7bn a year earlier. Aramco already announced in March that it expected its dividends for the full year to fall to $85.4bn from $124.3bn in 2024. Despite the current economic uncertainty, Aramco's capital expenditure (capex) rose to $12.5bn for January-March from $10.83bn in the same period last year, although this puts investment broadly in line with the lower end of the full-year 2025 capex guidance of $52bn-58bn that the company announced in March. The aggressive capex programme will help drive growth plans for the downstream and new energies sides of Aramco's business, as well as fund the firm's strategy to maintain its maximum sustainable crude capacity at 12mn b/d and expand its gas output by 60pc by 2030 compared with 2021 levels. By Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

India, Pakistan reach US-mediated, fragile ceasefire


25/05/11
25/05/11

India, Pakistan reach US-mediated, fragile ceasefire

Dubai, 11 May (Argus) — A US-mediated ceasefire reached on Saturday between nuclear-armed neighbours India and Pakistan is still holding, following four days of intense fighting. "After a long night of talks mediated by the United States, I am pleased to announce that India and Pakistan have agreed to a FULL AND IMMEDIATE CEASEFIRE," US president Donald Trump posted on his social media platform Truth Social on Saturday. India and Pakistan will now start negotiations on a broad set of issues at a neutral site, US secretary of state Marco Rubio said on social media platform X. India's military on 7 May launched attacks against targets in Pakistan and Pakistan-administered Kashmir in retaliation for an April terrorist attack that killed dozens. But by Saturday, the two countries seemed to be edging toward all-out war, as their militaries targeted each other's bases. India's foreign minister Subrahmanyam Jaishankar confirmed the ceasefire, saying on X that "India has consistently maintained a firm and uncompromising stance against terrorism in all its forms and manifestations. It will continue to do so." Pakistan "responded positively to the ceasefire proposal for regional and global peace, and its people and I hope that dialogue will now be chosen for resolution of water and Kashmir disputes," Pakistan's prime minister Shehbaz Sharif said in a televised address. Trump also praised leaders of both countries for agreeing to halt the aggression and said he would "substantially" increase trade with them, although this was "not even discussed". Kashmir is a contested area between India and Pakistan, and the two have twice gone to a war over the region. Fear of the conflict spreading roiled global financial markets. India is the region's second-biggest oil buyer after China — importing around 4.5mn b/d last year — and a major customer for other commodities, including LNG and coal. Pakistan also imports fertilizers, coal, oil products and LNG. The escalation between the two severely limited direct trade between them. Airlines in the region as well as some Mideast Gulf carriers rerouted or cancelled flights to avoid Pakistani airspace. But the Pakistan Airports Authority said on Saturday that "Pakistan's airspace has been fully reopened for all types of flights." By Bachar Halabi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Ford pauses production at Chicago plant


25/05/09
25/05/09

Ford pauses production at Chicago plant

Houston, 9 May (Argus) — Automaker Ford temporarily shut down production at its Chicago, Illinois, assembly plant following a supply chain disruption. The company said it moved a planned downtime week ahead of schedule and expects to resume production by 19 May. Congressman Frank Mrvan (D-Indiana) in a US House appropriations hearing on 7 May said the shutdown was due to a shortage of critical minerals needed to produce the company's braking systems. The company did not respond to the specific elements driving the shutdown. The plant manufactures the Ford Explorer, Police Interceptor Utility and Lincoln Aviator. By Jenna Baer Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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