Freight
Overview
Oil, gas and dry cargoes are being shipped all over the world every day. With seaborne transportation comes exposure to shipping costs. Be it via direct cost or through the prices of feedstocks or finished products, a freight factor is always there. Highly sensitive to market shifts, geopolitics and regulations, freight is a complex and volatile part of every trade.
To manage this exposure, industry participants, from producers and traders to government agencies and financial institutions rely on our freight data for contracts, pricing formulas, analytics and arbitrage tracking.
Argus Freight consists of three dedicated services, covering trade flows for tankers, dry bulk and gas markets. Each service provides daily freight indexes, industry-specific news, market analysis and exclusive content. This enables you to connect the dots between commodity prices and shipping costs, giving you a complete view of the supply chain.
Latest freight news
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Brazil iron ore exports tick lower in September
Brazil iron ore exports tick lower in September
London, 14 October (Argus) — Brazilian iron ore exports edged lower year-on-year in September to 36.5mn t, with volumes slowly rebounding in October. Exports to China fell by 4.6pc to 26.85mn t, according to Global Trade Tracker (GTT) data. Shipments to Malaysia ticked higher, reaching 1.9mn t. Iron ore loadings from the Ponta da Madeira port dropped by 9.5pc to 14.25mn t, Kpler data show, following a brief disruption by the fire in early September . Brazilian iron ore exports are projected to rise year-on-year in October. Shipments reached 12.7mn t over the first eight of 22 working days and are expected to total 36.7mn t — up from 35.2mn t in October last year, according to preliminary data. Typically, Brazilian volumes increase during the fourth quarter before falling in January–February because of the rainy season. Spot freight rates in the Atlantic spiked on 13 October after China announced it would impose fees on US-linked vessels starting on 14 October, in retaliation for new US tariffs on Chinese ships. The Tubarao–Qingdao rate climbed to $25.85/t on 13 October, but is poised to soften as Chinese-built vessels were exempt from new port fees imposed by China on US-affiliated vessels . Operator Bunge secured a vessel loading from Itaguai to Qingdao for 1–7 November at $24.30/t, which equates to around $23.45/t for the Tubarao–Qingdao route. Competition for Capesize tonnage between Brazilian and west African charterers may tighten soon, as the first Simandou cargoes are expected to enter the market. "Our growth projects are also progressing at pace — at Simandou, we started loading the first ore at the mine for transport down the rail and to the port in October," iron ore producer Rio Tinto said today. By Andrey Telegin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
IMF upgrades global economic outlook
IMF upgrades global economic outlook
Washington, 14 October (Argus) — The IMF is upgrading its global economic growth forecast for 2025 and 2026, but the economic rationale for the upward revision preceded the most recent episode of US-China trade tensions. The IMF, in its latest World Economic Outlook released Tuesday, forecasts the global economy will grow by 3.2pc in 2025 and 3.1pc in 2026. That compares with the 3pc growth for 2025 that the IMF was expecting just three months ago. IMF forecasts are used by many economists, including OECD watchdog the IEA, to model oil demand projections. "The increase in tariffs and its effect has been smaller than expected so far," IMF chief economist Pierre-Olivier Gourinchas said. The IMF forecast is based on data available as of late September. In recent days, trade tensions flared up again between the US and China. The possibility of further escalation in trade tensions across the globe is part of the IMF outlook. "The US statutory effective tariff rate remains high, and trade tensions continue to flare up with no guarantee yet on lasting trade agreements," Gourinchas said. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Q&A: Shipping sector at crossroads for GHG emissions
Q&A: Shipping sector at crossroads for GHG emissions
Singapore, 14 October (Argus) — Argus spoke with marine fuels supplier KPI OceanConnect's global head of alternative fuels and carbon markets, Jesper L. Sørensen, on the sidelines of the Marine Fuels 360 conference ahead of the vote for a two-tier greenhouse gas (GHG) pricing mechanism at the International Maritime Organisation's (IMO) Marine Environment Protection Committee's (MEPC) second extraordinary session on 14-17 October. What are some of the key challenges that you see until 2030? The industry faces an important decision point with the forthcoming IMO session, which will shape the future. In the near term, supply for biofuels [and LNG] appears sufficient. The bigger task is scaling advanced feedstocks and building confidence in their use, so we have both technical acceptance and broader adoption as demand grows. For the LNG side, the adoption is accelerating, and a healthy number of LNG-fuelled vessels are entering service. In southeast Asia, the market is highly concentrated today. Expanding licencing and LNG bunker vessel capacity would further support Singapore's role as a major demand hub, increase resilience, and encourage competitive service. If the IMO's two-tier pricing mechanism is passed at the extraordinary session, what are the new fuels that will see an uptick in adoption? Biofuels will continue to play an important role, alongside bio-energy and other low-carbon options. Ultimately, fuel choices will depend on the final IMO agreement. Clear guidance, especially where stakeholders have raised questions about relative treatment of fuels like LNG, will help the market invest and plan with confidence. What is KPI OceanConnect's strategy regarding alternative marine fuels in its business? What is the company's vision? We operate as both partner and aggregator. Producers need dependable offtake to reach FID. We bring customers together and help de-risk the demand side so projects can move forward, whether its methanol, ammonia, biofuels, or others. We also provide technical and commercial support so buyers can adopt new fuels smoothly. Given the current higher adoption of biofuels versus other fuels like ammonia and hydrogen, how does KPI OceanConnect balance investment? How do you plan volumes globally? Our investment focus is capability, not plants. Through our Green Centre of Excellence we have built expertise across biofuels, LNG, carbon markets, methanol and ammonia. It's about people, process, and knowledge to help our partners transition efficiently. How is KPI OceanConnect helping clients prepare for compliance? And what are the challenges that you foresee that need to be tackled in this respect? It's a wrongful assumption that paying the penalty is the cheaper option, and it comes with reputational damage. We aim to make compliance predictable. Beyond advisory and technical support, we can deliver a Compliance-Guaranteed Contract for clients who want an end-to-end solution: we provide input on the optimal fuel mix, routing, pooling and documentation and we stand behind the compliance outcome. It's a practical way to turn regulation into planned performance. What is KPI OceanConnect's expectations of bunker prices for 2025, for both conventional and alternative fuels? What are the likely key drivers? I really don't like to talk about the pricing overall. It almost always ages badly. So rather than point forecasts, we focus on the drivers: policy clarity and timing, and feedstock availability while monitoring geopolitical factors. Those elements will set the tone for conventional and low-carbon fuels alike. Our role is to structure supply and contracts so customers are resilient across scenarios. By Cassia Teo Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
LNG sector unsure on USTR enforcement after rule change
LNG sector unsure on USTR enforcement after rule change
London, 13 October (Argus) — It has become unclear how the US Trade Representative (USTR) could penalise terminals or shippers for not loading enough US LNG on US-built LNG carriers after the USTR scrapped the clause that terminals could lose their export licences if they fail to comply. According to an initial USTR ruling in April, a certain percentage of US LNG exports should be shipped on US LNG carriers, rising from 1pc in 2028 to 15pc in 2047, or terminals would have their export licences removed. But amendments proposed the removal of the responsibility for LNG terminals to meet the requirements in June . The threat to revoke export licences was the "most problematic" of the USTR's rules on LNG transit, the executive director of US industry body the Center for LNG, Charlie Riedl, told the Gulf Coast Energy Forum in New Orleans today. It was "more problematic" than former US president Joe Biden's pause on new non-free trade agreement (non-FTA) export licences because the USTR rules could be applied to projects in operation, while the non-FTA pause only delayed six projects that were yet to reach a final investment decision, Riedl said. The modification to the rule "will avoid potential short-term disruptions to the LNG sector while promoting investments in US shipbuilding capacity and production of LNG vessels", the USTR said. But it has become unclear how the USTR plans to enforce rules that aim to promote US LNG shipbuilding. The revised rules lack a port fee or tariff system that would encourage compliance. The USTR expects that domestic demand for new LNG vessels will "result in the successful construction of LNG vessels in the US in the coming years, ensuring that US energy exports can be transported on US-built vessels". But US LNG carriers are more expensive than those built in South Korea or China, and shipbuilding capacity is at present limited to the Philly shipyard, suggesting little room to accommodate further LNG carrier orders in the US. By Martin Senior and Tray Swanson Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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