Japan’s coastal shipping volumes fall in 2024

: Coal, Coking coal, LPG, Metals, Oil products
25/02/26

Volumes transported on coastal vessels in Japan fell in 2024 because of a decline in shipments of automobiles, cement and oil and chemical products.

Shipping volumes on cargo ships in the domestic coastal market fell by 2.8pc on the year to around 198mn t in 2024, according to data from the Japan Federation of Coastal Shipping Associations.

The decline partly reflected a drop in vehicle output in the wake of scandals over faulty safety data. Shipping volumes in the automobile sector totalled 44mn t last year, down by 11pc from 2023. Transportation of cement and feedstock materials, such as limestone, fell by 8pc to 25mn t and by 3pc to 45.6mn t respectively over the same period.

But deliveries of coal and coke rose by 12pc to 18.7mn t, as coal demand from the power sector rebounded after maintenance work a year earlier. Transportation volumes of steel products increased by 4.3pc to 36.4mn t over the period.

Operations of coastal tankers also slowed last year. A series of technical problems at domestic refiners created alternative demand for refined products, which would typically lead to an increase in coastal shipping. But the longer voyages needed to deliver such products to distant refineries resulted in a drop in shipping utilisation as a whole, the association said.

Shipments of lighter oil products, such as gasoline, kerosine, jet fuel and diesel, fell by 2pc on the year to 58.7mn kl (1mn b/d) in 2024. Volumes fell as high prices for gasoline and kerosine capped demand for the fuels, despite government subsidies.

An expansion of renewable energy also weighed on oil demand. Tanker deliveries of fuel oil fell by 10pc to 22.5mn kl, pressured by lower demand from the power sector.

Shipments of chemical products dropped by 8pc to 7.2mn kl last year, while deliveries of high-pressured liquids such as LPG and vinyl chloride monomer remained steady at around 6mn t.

The survey covered 58 operators that together account for more than 80pc of total coastal shipping volumes, the association said.

By Motoko Hasegawa

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25/04/28

Power outage hits Spanish refineries: Update 2

Adds details on flight cancellations London, 28 April (Argus) — A massive power cut across the Iberian peninsula has disrupted operations at several refineries, chemical plants and airports in Spain and Portugal today. All five of Repsol's Spanish refineries have been forced to shut, a union representative for the company's workers said. This includes the 220,000 b/d Bilbao refinery, which is operated by Repsol's Petronor subsidiary. Crews are in place, securing units at the refineries. "There is sufficient autonomy in all of them to guarantee the safety of the facilities," the union representative said. Repsol has yet to respond to a request for comment. Fellow Spanish refiner Moeve said it also has halted activity at its refining and chemical plants in the country and is using back-up power generators "to guarantee the safety and control of the system". Moeve operates the 244,000 b/d Algeciras and 220,000 b/d Huelva refineries. Its 250,000 t/yr San Roque base oils plant is also shutting down. Chemicals firm Dow said all plants at its Tarragona industrial complex in Spain have been closed. The longer the power outage lasts, the longer it will take to restart integrated sites. Refineries affected by power outages normally require a 2- to 3-day restart period. It is unclear yet whether any plants have sustained damage. Airports in both countries have also been affected, with 29pc of flights cancelled at Lisbon, according to data from analytics firm Cirium. A total of 96 flights from Portuguese airports have been cancelled today, according to Cirium, while 45 have been cancelled in Spain. Spanish transmission system operator Red Electrica and relevant government bodies are investigating the cause of the blackout. Red Electrica said power has been restored "at substations in several areas in the north, south and west of the peninsula, and consumers in these areas are beginning to be supplied". By George Maher-Bonnett, Isabella Reimi, Alex Sands and Monicca Egoy Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Power outage hits Spanish refineries: Update

25/04/28

Power outage hits Spanish refineries: Update

Adds new details throughout London, 28 April (Argus) — A massive power cut across the Iberian peninsula has disrupted operations at several refineries and chemical plants in Spain today. All five of Repsol's refineries have been forced to shut, a union representative for the company's workers said. This includes the 220,000 Bilbao refinery which is operated by Repsol's Petronor subsidiary. Crews are in place, securing units at the refineries. "There is sufficient autonomy in all of them to guarantee the safety of the facilities," the union representative said. Repsol has yet to respond to a request for comment. Fellow Spanish refiner Moeve said it has also halted activity at its refining and chemical plants in the country and is using back-up power generators "to guarantee the safety and control of the system". Moeve operates the 244,000 b/d Algeciras and 220,000 b/d Huelva refineries. Its 250,000 t/yr San Roque base oils plant is also shutting down. Chemicals firm Dow said all plants at its Tarragona industrial complex in Spain have been closed. The longer the power outage lasts, the longer it will take to restart integrated sites. Refineries affected by power outages normally require a 2-3 day restart period. It is unclear yet if any plants have sustained damage. Spanish transmission system operator (TSO) Red Electrica and relevant government bodies are investigating the cause of the blackout. Red Electrica said power has been restored "at substations in several areas in the north, south and west of the peninsula, and consumers in these areas are beginning to be supplied". By George Maher-Bonnett, Isabella Reimi, Alex Sands and Monicca Egoy Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Power outage hits Spanish refineries

25/04/28

Power outage hits Spanish refineries

London, 28 April (Argus) — A massive power cut across the Iberian peninsula has disrupted operations at several refineries in Spain today, sources told Argus. Spanish firm Repsol's Petronor subsidiary halted all units at its 220,000 Bilbao refinery earlier because of the power cut, with black smoke released as part of the security stoppage, market participants said. Shutdowns are also under way at Moeve's 250,000 t/yr San Roque base oils plant and at Repsol's 135,000 b/d La Coruna refinery, sources said. Flaring has been seen at Repsol's 180,000 b/d Tarragona refinery as a result of a response system being activated at the site, according to petrochemical sources. Moeve and Repsol have yet to respond to a request for comment. "The refineries need to be brought to a safe state," a trade union representative for Repsol workers said. "The crews are in place, securing the units. There is sufficient autonomy in all of them to guarantee the safety of the facilities." Chemical sites will also be affected by the power outage. The longer the power outage lasts, the longer it will take to restart integrated sites. Refineries affected by power outages normally require a 2-3 day restart period. It is unclear yet if any plants have sustained damage. By George Maher-Bonnett, Isabella Reimi and Alex Sands Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trump works to blunt renewables growth

25/04/28

Trump works to blunt renewables growth

Washington, 28 April (Argus) — US president Donald Trump has started to impede development of renewable energy projects he sees as boondoggles, but he is facing challenges to his attempts to halt government funding and tax credits for the sector. Trump has attacked wind turbines and solar projects as part of a "Green New Scam" that should not be built, based on his preference for the fossil fuel-fired and nuclear power plants he says are more reliable and affordable. Trump selected a cabinet of like-minded individuals who oppose renewables and see little urgency to address climate change. He was elected to end the "nonsense" of building renewable resources that are heavily subsidised, make the grid less reliable and raise costs, energy secretary Chris Wright said in an interview on Earth Day. Interior secretary Doug Burgum on 16 April ordered Norwegian state-controlled Equinor to "immediately halt" construction of the 810MW Empire Wind project off New York. Trump had already ordered a freeze on future offshore wind leases , and suspending Empire Wind's permits is likely to spook investors even outside the renewables sphere. To reverse course on a fully permitted project is "bad policy" that "sends a chilling signal to all energy investment", American Clean Power Association chief executive Jason Grumet says. The US last week separately said it would impose anti-dumping duties on solar components imported from four southeast Asian countries that will range from 15pc to 3,400pc. Those duties — in effect from June to support US solar manufacturers — will be in addition to a 10pc across-the-board tariff the US imposed this month on most imports. Solar industry groups have said that steep import duties will make new installations unaffordable, stunting the industry's ability to grow. Trump has had less success in his push to axe support for renewables approved under Joe Biden. On 15 April, a federal judge ordered the administration to unfreeze billions of dollars for clean energy projects provided by the Inflation Reduction Act (IRA) and 2021 infrastructure law. The administration lacks "unfettered power to hamstring in perpetuity two statutes", judge Mary McElroy wrote. In a separate ruling on 15 April, judge Tanya Chutkan prohibited the administration from suspending $14bn in grants distributed to nonprofits under the IRA for a greenhouse gas reduction programme. The administration is appealing both rulings. Targeting the windfall Trump could further undermine the growth of renewables by convincing Republicans in Congress to use an upcoming filibuster-proof budget package to repeal or narrow the IRA's tax credits for wind, solar and other clean energy projects. Critics of that law see the potential for $1 trillion in savings by repealing its tax credits, which could offset the costs of more than $5 trillion in planned tax cuts. But there appear to be enough votes in each chamber of Congress to spare at least some of the IRA's energy tax credits. In the Senate, where Republicans can only afford to lose three votes, Alaska's Lisa Murkowski and three other Republicans signed a joint letter this month saying "wholesale repeal" of the tax credits would fuel uncertainty and undermine job creation. In the House of Representatives, where Republicans have a similarly slim majority, 21 Republicans voiced concerns earlier this year about repealing all of the tax credits. Renewables are on track to overtake natural gas as the largest source of US electricity by 2030 — assuming the tax credits and climate rules enacted under Biden remain intact — the EIA stated this month in its Annual Energy Outlook . The amount of power from renewables under the EIA's existing policy baseline by 2035 will increase by 135pc to 2.8bn MWh, while gas-fired power will decline by 14pc to 1.6bn MWh over the same time period. By Chris Knight Baseline US net power generation Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Cement sales at India’s Dalmia fall on year in Jan-Mar

25/04/28

Cement sales at India’s Dalmia fall on year in Jan-Mar

Singapore, 28 April (Argus) — Indian cement maker Dalmia Bharat reported a 2.8pc decline on the year in January-March sales, although sales increased by a sharp 28pc on the quarter because of an uptick in demand. Bombay Stock Exchange-listed Dalmia sold 8.6mn t of cement over January-March, down from 8.8mn t a year earlier but well above the 6.7mn t sold in October-December 2024. Sales rose by 2pc to 29.4mn t in the 2024-25 fiscal year ending 31 March. Cement demand was "relatively slow" in the first three quarters of the last fiscal year at 3-3.5pc growth, while the industry's full-year growth is estimated at 4-5pc, the company said. It expects cement demand to grow by 7-8pc in the current year. The year-on-year decline in sales in January-March was because of a higher base in the year-earlier period, when the company sold 0.6mn tthrough a tolling arrangement in January-March 2024, Dalmia told investors on 24 April. This arrangement was discontinued in July 2024. Power and fuel costs fell by 7.2pc from a year earlier to 945 rupees/t ($11.10/t) of cement in January-March. This was primarily because average fuel consumption costs fell by $19/t on the year to $95/t in the latest quarter. Cement plants use petroleum coke and thermal coal as fuel in cement kilns. The Argus -assessed delivered India price of 6.5pc coke averaged $98.38/t for October-December, down by almost 25pc from the average of $131.04/t a year earlier. Most of the US high-sulphur coke that Indian cement makers consumed in January-March would typically have been booked in the previous quarter, considering a voyage time of approximately six weeks. Revenue from sales fell by 5pc on the year to Rs40.91bn in January-March, a sharper decline compared with the 2.8pc drop in sales volume because of lower cement prices. The fiscal year's revenue also slipped by almost 5pc to Rs139.8bn. The company reported higher cement prices this quarter, and it is reasonably optimistic about the sustainability of recent hikes. It expects the rising industry consolidation in cement industry to eventually give producers a higher pricing. Dalmia's profits increased by 37pc on the year to Rs4.4bn over January-March, but the annual profit declined by 18pc to Rs7bn from the year earlier. Dalmia Bharat added approximately 5mn t/yr of cement capacity in 2024-25 to 49.4mn t/yr. It had earlier announced an aspiration to raise cement capacity to 75mn t/yr by 2027-28, but details have not yet been made public. By Ajay Modi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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