Viewpoint: Trucking to enter steady growth in 2020

  • Spanish Market: Oil products
  • 26/12/19

The US trucking industry faced economic uncertainty in the last half of 2019, but should find steadier driving by the start of the second quarter of 2020.

Seasonally-adjusted for-hire trucking fell in November to an index of 113.5, down by 7.2pc from the yearly high set in July amid reports of lower demand during the fall freight season, according to the American Trucking Association (ATA). The ATA index, dominated by contract freight, is calculated based on survey responses from ATA members on tonnage hauled by fleets. It awards 100 points for every 2,015t hauled.

Despite economic headwinds, trucking is up by 3.3pc year-to-date compared with the same period last year.

The July increase in the ATA index was reflected in higher US diesel demand, according to Energy Information Administration (EIA) data. In August, implied demand for distillate fuel oil, which includes ultra-low sulfur diesel (ULSD) reached 123.3mn bl.

US trade with Canada and Mexico reached yearly highs through the later stages of the third and early parts of the fourth quarter of 2019. Exports to Canada reached $25.3bn in August, while imports were highest in September at $26.9bn, according to US Census Bureau data. Trade exports to Mexico reached a high of $22.3bn in October, while imports from south of the border registered the highest total in August at $31bn.

EIA's Short Term Energy Outlook shows a -0.3pc decrease in demand for diesel in the first quarter of 2020 at 4.22mn b/d, but a 0.2pc uptick in diesel demand is forecast in the following three months. The EIA cited two factors for the slight dip in the first quarter tally. First, a decline in EIA's distillate fuel-weighted manufacturing index, which is forecast to fall by 1.3pc in the first quarter of 2020 compared with the first four months of this year. Secondly, the EIA forecasts 1.3pc fewer heating degree days in the Mid-Atlantic and New England regions, which the EIA estimates consumes about 80pc of the US heating oil usage.

More stable trucking industry growth is expected in 2020 with the implementation of the US-Mexico-Canada Trade Agreement (USMCA). USMCA, which will replace the 25 year-old North American Free Trade Agreement (NAFTA), passed the US House of Representatives on 19 December, with ratification in the Senate is expected in January 2020.

By Jason Metko


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18/04/24

Amapá cancela regime especial de ICMS

Amapá cancela regime especial de ICMS

Rio de Janeiro, 18 April (Argus) — O Secretário da Fazenda (Sefaz) do Amapá (AP) cancelou ontem o regime especial de tributação de empresas importadoras de combustíveis, colocando um fim a uma situação que gerava distorções de preços no mercado de diesel . A decisão do órgão foi publicada no diário oficial desta quarta-feira, dia 17, e contempla os regimes especiais do tributo estadual ICMS de oito empresas, entre elas a Refinaria de Manguinhos, que pertence ao grupo Fit, Amapetro, Axa Oil, Alba Trading e Father Trading. No caso da Amapetro, a empresa pagava uma alíquota efetiva de 4pc do valor da importação nas compras de outros países para uso próprio para consumo dentro do estado. Considerando a média do indicador Argus de importação de diesel de origem russa ao longo de março, isso equivaleria a R$136,9/m³.O valor atual do ICMS nos outros estados brasileiros é de R$1.063/m³ desde 1 de fevereiro. O estado teria importado 197.244m³ de diesel em março, de acordo com informações do Ministério do Desenvolvimento, Indústria, Comércio e Serviços (MDIC). Isso equivale a 15,9pc do total de diesel importado pelo Brasil no mês. O consumo de diesel A do estado foi de 6.250m³ no mês passado, equivalente a 0,1pc do consumo nacional, de acordo com os dados da Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP). As autorizações do estado criavam distorções de preços no mercado e perdas de arrecadação fiscal em várias estados onde o produto acabava sendo consumido. Associações de produtores e distribuidores de diesel vinham pressionando o poder público nos últimos meses para derrubar esses regimes especiais. De acordo com o Instituto Combustível Legal, a medida causou um prejuízo de R$1 bilhão aos estados onde o combustível importado no âmbito do regime especial era efetivamente consumido, citando os estados de São Paulo, Paraná e Pernambuco como principais destinos. No início do mês, a Refina Brasil, que reúne as refinarias de petróleo independentes do país, estimou que o contribuinte amapaense pagava um valor próximo a R$0,83/l em subsídios para importadores. Por Amance Boutin Envie comentários e solicite mais informações em feedback@argusmedia.com Copyright © 2024. Argus Media group . Todos os direitos reservados.

TUI Cruises receives methanol-ready ship


18/04/24
18/04/24

TUI Cruises receives methanol-ready ship

New York, 18 April (Argus) — Cruise ship company TUI Cruises took delivery of a methanol-ready cruise ship which will start operations at the end of June. Methanol-ready vessels allow ship owners to easily retrofit their vessels to burning methanol in the future. The 7,900t deadweight Mein Schiff 7 will operate in the North Sea, the Baltic Sea, along the European Atlantic coast and in the Mediterranean and run on marine gasoil (MGO). It was built by Finland's Meyer Turku shipyard. In January, TUI Cruises signed a memorandum of understanding with trading company Mabanaft for future supply of green methanol. Mabanaft would cover TUI's methanol needs in northern Germany, and gradually add other European locations. Grey methanol was pegged at $717/t MGO equivalent and biomethanol at $2,279/t MGOe average from 1-18 April in Amsterdam-Rotterdam-Antwerp. About 0.9 times and 2.9 times, respectively, the price of MGO, Argus assessments showed. TUI Cruises is a joint venture between the German tourism company TUI AG and US-based cruise ship company Royal Caribbean. By Stefka Wechsler Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

UAE air traffic recovery begins after storm disruptions


18/04/24
18/04/24

UAE air traffic recovery begins after storm disruptions

Singapore, 18 April (Argus) — Air traffic at Dubai International (DXB) has begun to recover after an unprecedented storm hit the country on 16 April, although flight delays are expected to continue. "DXB resumed inbound flights of international airlines operating out of terminal 1", a spokesperson for DXB operator Dubai Airports said on 18 April. But it urged travellers not to come to the terminal for outbound flights before confirming their flight status, as it said the access to the terminal is "strictly limited" to guests with confirmed departures. Prolonged flight disruptions at DXB, which was ranked the second-busiest airport in the world in 2023, according to the Airports Council International's preliminary ranking, could affect regional jet fuel demand. Dubai low-cost carrier flydubai said it has now resumed partial operations from DXB, having previously cancelled all of its flights scheduled to depart from Dubai on 16 April evening until 10am on 17 April. Select outbound flights were to operate from DXB's terminal 2 with scheduled operations resuming after 8pm on 17 April, it said, while flights from terminal 3 were due to resume after midnight. But Dubai-owned Emirates Airlines has extended the suspension on check-in for passengers departing DXB until 9am on 18 April, after having initially suspending it between 8am and midnight on 17 April. The airline said the extension was because of "continued operational challenges caused by bad weather and road conditions". Neighbouring Abu Dhabi's Zayed international airport said it is "operating smoothly", despite issuing a warning on 17 April that some flights might be delayed. By Ieva Paldaviciute Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

June deadline set for Citgo auction bids


17/04/24
17/04/24

June deadline set for Citgo auction bids

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Idemitsu books rare US Gulf-Vancouver HVO cargo


17/04/24
17/04/24

Idemitsu books rare US Gulf-Vancouver HVO cargo

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