Generic Hero BannerGeneric Hero Banner
Latest market news

Container lines to impose US strike surcharges

  • Market: Oil products
  • 24/09/24

Container ship owners Maersk, CMA CGM and Hapag-Lloyd warned their clients that if a looming port strike takes place, they would implement port disruption surcharges for container cargo moving to and from the US east and Gulf coast terminals.

If a International Longshoremen's Association (ILA) strike takes place, CMA CGM's surcharge will go into effect on 11 October. The company will charge $1,500 per twenty-foot container unit (TEU) and $3,000 per forty-foot container unit for cargo moving from Latin America and the Caribbean to the US east and Gulf coasts. CMA CGM's surcharge for exports from the US east and Gulf coasts to Latin America and the Caribbean will be $800 per TEU and $1,000 per forty-foot container unit.

Hapag-Lloyd's surcharge of $1,000 per TEU will apply from 18 October to all imports to the US east and Gulf coast.

Maersk will implement its surcharge on 21 October. It will include $1,500 per TEU, $3,000 per forty-foot container unit and $3,780 per forty-five-foot container unit for cargo moving in and out of US east and Gulf coasts. Its surcharges are subject to regulatory approval for containers departing from China. The company is prioritizing import container movements before disruptions take place and asking its customers to expedite documentation and customs clearance to retrieve cargo promptly. It warns that strike disruptions will affect terminal operators' ability to monitor refrigerated containers and encourages its customers to plan accordingly to avoid the risk of loss to temperature-controlled cargo.

The surcharges would cover higher operational costs that will be incurred due to service disruptions, the companies say. They are exploring alternative routing options. A possible strike could cause some of the container ship cargo to be re-routed to US west coast ports, Canada and Mexico, and then transported on rail or truck to the US Gulf and east coasts.

The contract between the ILA and the United States Maritime Alliance (USMX) is set to expire on 30 September. The current six-year agreement covers approximately 25,000 port workers employed in container and roll-on/roll-off operations at ports from Maine to Texas. The USMX reiterated its willingness to reenter discussions with the ILA on a new master contract.


Sharelinkedin-sharetwitter-sharefacebook-shareemail-share

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.

News
19/11/25

Cop: Some 'reluctant' on shift from fossil fuels

Cop: Some 'reluctant' on shift from fossil fuels

Belem, 19 November (Argus) — Some countries are still "very reluctant" to accept including a roadmap to transition away from fossil fuels in the UN Cop 30 climate summit's final documents, the event presidency said. A roadmap to phase down fossil fuels has become a key issue at Cop 30. An initial draft about issues not on the main agenda published by the presidency on Tuesday morning mentioned it, but over 80 countries asked the presidency to put it on formal negotiating tables . There are two categories of countries on roadmap negotiations: those that are "very favorable" or have "very negatives" views on it, Cop 30 president Andre Correa do Lago told reporters. "Some groups [that have negative views on the roadmap] don't want that type of language on fossil fuels, while some developing countries don't want any more obligations, independently on which topic," Cop 30 chief executive Ana Toni said. Still, it is up to developed countries to take the lead on those negotiations, Correa do Lago said. One of the main hurdles to negotiating the roadmap has been how to implement it with solutions that are appropriate for each country, Correa do Lago said. "We really need to see the economic and social implications of the transitioning away [from fossil fuels] for each country and for different regions in each country." Additionally, there are many different interpretations on what needs to enter formal documents, he said. It has been hard to decide between what has to be negotiated and what can be implemented without a formal text, he added. The wording regarding the roadmap on the presidency's initial draft was considered weak by some delegates, according to Tina Stege, the climate envoy of the Marshall Islands, speaking for negotiating bloc the alliance of small island states. The presidency's draft "reflects something that opens the door" for negotiations between favorable and reluctant countries, Correa Lago said. So it is "natural" that the more favorable countries would expect something more ambitious. But Toni said that no group of countries has explicitly told the presidency that the initial draft's wording was "weak". Finance for adaptation One of the topics in which delegates have differed the most during negotiations is finance for adaptation, Brazil's chief climate negotiator Lilian Chagas said. Adaptation covers efforts to adjust to climate change where possible. The presidency's initial drafts included a proposal to triple adaptation finance from wealthier nations to developing countries. "The [global goal on adaptation"] is absolutely central and obviously the push for an increase in adaptation resources is significant", Correa Lago said. "And we want this to be an adaptation Cop". By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Find out more
News

US holiday travel could stretch thin gasoline stocks


17/11/25
News
17/11/25

US holiday travel could stretch thin gasoline stocks

Houston, 17 November (Argus) — A surge in travel for the US Thanksgiving holiday could increase driving demand and stretch already-thin gasoline stockpiles in the country. US gasoline prices may increase in the coming weeks as holiday travel spikes demand while national inventories hover at a 10-year low. 81.8mn travelers are estimated to be traveling at least 50 miles from their homes between 25 November and 1 December, according to data released by automobile association AAA on Monday. That would be an increase of 2.1pc on the year. The partial shutdown of the US federal government, which went on for 44 days from 1 October to 12 November, could shift more travel to cars as opposed to flights because of an increase in flight cancellations. This results in higher demand, which has recently lagged last year's levels. US Gulf coast Colonial pipeline CBOB prices have averaged $1.87/USG, marking an 11¢/USG decrease from the average a year prior. Chicago's West Shore/Badger CBOB prices have also been trending lower averaging $1.88/USG during the same period, a 1¢/USG decline. US Atlantic coast RBOB was the sole area to post increases at $2.09/USG, up by 6¢/USG from the average a year earlier. Most of those travelers will be driving with 89pc expected to travel by car, according to AAA. The AAA forecast would put an additional 1.3mn drivers on the road compared to last Thanksgiving, which would mark a 1.8pc increase on the year. Flights also had an increase with 6mn passengers expected to fly domestically, marking a 2pc rise from 2024. The number of flights could shrink due to the amount of cancellations that have occurred as of late, according to AAA. US gasoline stockpiles have been particularly thin this year with the most recent data from the US Energy Information Administration (EIA) showing total gasoline stockpiles at 205.1mn bl in the week ended 7 November, the lowest level since the week ended 14 November in 2014. Stockpiles fell by 0.9pc on the year. Some regions may be particularly impacted, with US midcontinent gasoline in the week ended 31 October falling to its lowest level on record . The four-week average of US gasoline finished gasoline product supplied, a proxy for demand, was 8.82mn bl, down by 6pc on the year according to EIA data. US flight cancellations remained high, but have eased since the reopening of the government. National flight cancellations — caused largely by a shortage of air traffic controllers — on 12 and 13 November still hovered near 1,000 but marked roughly a 50pc decrease compared to average cancellations since restrictions went into place on 7 November, according to data from flight-tracking service FlightAware. By Zach Appel Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Chevron exits US biomass-based diesel trade group


17/11/25
News
17/11/25

Chevron exits US biomass-based diesel trade group

New York, 17 November (Argus) — Chevron is no longer a member of a trade group supporting the US biodiesel and renewable diesel industry, reflecting increasing divides between oil companies and the Farm Belt over fuel policy. The US oil major decided not to renew its membership in Clean Fuels Alliance America after an annual renewal period in October, the trade group confirmed to Argus . The organization represents some diverse interests across the biofuel supply chain, including farm groups, soybean processors, small biodiesel plants and large renewable diesel refiners. "The decision to exit was made as part of a larger, enterprise-wide cost reduction effort that included Chevron's participation in many trade associations and other sponsorships across many lines of business", the company said. "We will continue to stay engaged with the industry and advocate for biodiesel and renewable diesel." A company lobbying report shows Chevron gave between $100,000-$499,999 to Clean Fuels last year — more than it did to the Advanced Biofuels Association, a more refiner-focused group that still counts Chevron as a member. Chevron inherited its Clean Fuels membership after it purchased biofuel producer Renewable Energy Group in 2022. Chevron's exit is notable since it owns more biodiesel plants than any other company in the US and recently more than tripled capacity at a Gulf Coast renewable diesel plant. But the company has pulled back from some biofuel investments as margins have dipped, indefinitely closing two biodiesel plants last year and laying off workers this year at its renewable fuel headquarters in Iowa. Large refiners have bristled at recent policy changes that help US farmers but saddle fuel producers with steeper feedstock costs. Clean Fuels in comments to President Donald Trump's administration this summer said that there was "not consensus among our members" about a plan to halve credits under a federal biofuel blend mandate for biofuels made from foreign feedstocks. Chevron has also differed from Clean Fuels in its support for co-processing renewable feedstocks at existing oil refineries and in its opposition to a Trump plan to make large oil companies blend more biofuels to offset the impact of giving some of their smaller rivals a pass from old biofuel quotas. The coalition supporting biofuels has also grown less steady in recent years as some smaller biodiesel producers push for more support to compete against better-capitalized renewable diesel refiners, which draw from the same feedstocks. Midcontinent biodiesel producers Incobrasa, Western Dubuque Biodiesel and Paseo Cargill Energy, a joint venture involving the agribusiness giant and Missouri farmers, also exited the group this year. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Majors could get $600mn 4Q profit boost as margins jump


17/11/25
News
17/11/25

Majors could get $600mn 4Q profit boost as margins jump

London, 17 November (Argus) — Current earnings estimates fail to take into account up to $600mn in additional refining profits across BP, Shell and TotalEnergies for the fourth quarter of this year thanks to continuing strong momentum in margins, according to Morgan Stanley. In research published on 16 November, the investment bank noted that the crack spread for diesel has rallied by more than 30pc over the past three weeks on concerns around a disruption to supplies from Russia, following the recent US sanctions imposed on Russian oil companies Rosneft and Lukoil. Major buyers of Russian diesel include Turkey and Brazil, which Morgan Stanley sees potentially reducing their Russian diesel imports by a combined 150,000-200,000 b/d. It said that displaced diesel volumes are unlikely to be absorbed by China or India in the same way that they receive Russian crude as both countries are net exporters of diesel. Consequently, Morgan Stanley said there is potential for a $600mn increase in consensus post-tax earnings for Shell, BP and TotalEnergies in the fourth quarter, and a $200mn uplift for Repsol. The investment bank issued a caveat for these estimates for earnings increases by noting that companies' ability to capture improved refining margins varies by quarter. In the third quarter, BP and TotalEnergies were able to capture the period's improved margins due to lower maintenance activities at their refineries. At the same time, as Argus reported on 14 November , gasoline margins have also grown firmer due to the new sanctions that hit Lukoil's refineries in Europe as well as a scramble for cargoes in Nigeria ahead of incoming import tariffs. By Jon Mainwaring Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

German distillates demand rises after Ice gasoil expiry


17/11/25
News
17/11/25

German distillates demand rises after Ice gasoil expiry

Hamburg, 17 November (Argus) — German heating oil and diesel demand rose last week despite sharp price volatility as Ice gasoil futures shifted to a new front-month contract. Nationwide demand was subdued early in the week but picked up in many regions mid-week after the switch, with Ice gasoil futures for the new front month quoted about $60/t lower. German prices fell by around €1.40/100 litres for heating oil and nearly €1.20/100l for diesel. The futures now more accurately reflect physical supply conditions in northwest Europe, traders said. Independent diesel stocks in the Amsterdam-Rotterdam-Antwerp (ARA) region hit an eight-month high last week. Concerns about possible shortages stemming from the latest sanctions on Russia had pushed prices higher the previous week. Spot volumes reported to Argus rose on the week by 5pc for heating oil and 7pc for diesel. Consumer concerns about further price increases prompted stockpiling, traders said. Colder weather expected in some regions is likely to boost demand further, although volatility deterred some buyers from additional purchases. Gasoline demand remained subdued, with term supply covering needs. Spot purchases reported to Argus fell by 27pc nationwide compared with the previous week. Fewer additional spot purchases were necessary than during the holiday season, filling station operators said. Meanwhile, diesel imports through north German ports so far this month are about 50pc below November last year at 70,000 b/d, all into Hamburg. India supplied 49pc, the Netherlands 39pc and 12pc arrived via Togo — the first deliveries from the west African ship-to-ship transfer hub in at least two years, Vortexa data show. Imports were 143,000 b/d in November last year, around a quarter of which came from the US. By Johannes Guhlke Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Generic Hero Banner

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