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Port Tampa Bay begins hurricane recovery: Update

  • : Fertilizers, Oil products
  • 24/10/10

Adds comments from Florida governor, information on fuel supplies.

Port Tampa Bay, Florida, docks did not sustain significant damage from Hurricane Milton, the port authority said early today, a positive sign for resuming fuel imports into the storm ravaged state.

Some port buildings were damaged and power remains out, according to preliminary assessments, but the port docks appear to have escaped major damage, according to the port authority. Many roads leading to the port remain flooded, but the port's main gates are accessible.

Florida governor Ron DeSantis said Thursday that Port Tampa avoided the worst-case scenario in terms of storm surge and that eastern Florida ports on the opposite side of the state from where Milton made landfall appear largely undamaged.

The state has 1.5mn USG of diesel and about 1.1mn USG of gasoline available to deploy in its emergency response, DeSantis said. Florida's highway patrol continues to escort fuel tankers making deliveries to gas stations and has completed about 130 escorts after some stations ran dry earlier this week as Floridians stocked up on fuel and evacuated coastal regions.

DeSantis said today he expects gas stations to reopen "very quickly, at least that's our hope."

Port Tampa Bay officials are working with the US Army Corps of Engineers, US Coast Guard and others to assess landside and seaside operations. There is no currrent timeline for the port's re-opening.

More than 3mn Floridians are without power today after Hurricane Milton came ashore south of Tampa Bay late last night as a category 3 storm. Utility crews are assessing the damage from high winds, tornadoes and flooding, and starting to restore power.

Nearly half of Florida's supply of petroleum and refined products passes through Port Tampa Bay, the majority via waterborne cargo from the US Gulf coast. Tampa Bay is also the site of major fertilizer operations, including Mosaic's Riverview phosphate plant.

Chevron's Tampa refined products terminal remains closed and damage assessments will begin once crews can safely access the facility, a company spokesperson said just after 11am ET today. The company's terminals in Panama City and Port Everglades are operational.

Fuel terminal operators at Port Tampa Bay such as Citgo, Kinder Morgan, Global Partners and Buckeye Partners told Argus they are currently evaluating their facilities to determine when they can resume operations. Individual port tenants will decide independently when to restart their own activities.


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24/11/13

Cop: Six more countries to triple nuclear power by 2050

Cop: Six more countries to triple nuclear power by 2050

Baku, 13 November (Argus) — Six countries have pledged to triple their nuclear power capacity by 2050 at the UN Cop 29 climate conference in Baku, Azerbaijan, as part of an initiative launched at last year's summit in Dubai. El Salvador, Kazakhstan, Kenya, Kosovo, Nigeria and Turkey today joined 25 countries that had already signed up to the pledge, which was first announced at Cop 28 in Dubai . Turkey has plans to build 20GW of nuclear capacity by mid-century, from no operational plants currently. Kazakhstan's commitment follows a nationwide referendum last month in which the country voted in favour of constructing a nuclear power plant. The US, an original signatory to the pledge, yesterday announced its target to add 200GW of net new nuclear by 2050, from some 97GW now. White House national climate advisor Ali Zaidi told delegates at a Cop 29 side event today that he has "confidence in the durability" of the Biden administration's approach to clean energy action, and does not expect it to pause following Donald Trump's victory in the recent US election. Zaidi pointed in particular to bipartisan consensus on the country's infrastructure law, which includes support for nuclear power, and growing political consensus on the Inflation Reduction Act. By Victoria Hatherick Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Cop: US election not affecting Canadian policy


24/11/12
24/11/12

Cop: US election not affecting Canadian policy

Washington, 12 November (Argus) — Canada's government does not intend to alter its plans for cutting the country's greenhouse gas (GHG) emissions in response to the return of former president Donald Trump to the White House. The expected shift in US policy following Trump's recent election victory, including the likely repeal of climate-related regulations and exit from the Paris Agreement, will have no effect on Canada's plans, environment minister Steven Guilbeault said during a call with reporters on Tuesday from the UN Cop 29 climate summit in Baku, Azerbaijan. "It's not the first US administration where we have different views on climate change", he said. "That didn't stop us in the past." The Canadian government, led by prime minister Justin Trudeau, has implemented or proposed a number of policies and programs intended to help the country meet its Paris pledge to reduce its emissions by 40-45pc, compared to 2005 levels, by 2030. Canada plans to submit a more-aggressive commitment, known as a nationally determined contribution, to the UN early next year, Guilbeault said. The government last week proposed enacting a cap-and-trade program to reduce GHG emissions from the oil and gas sector, which has drawn sharp criticism from the industry . Guilbeault's comments came in response to a question about remarks made by former finance minister Bill Morneau, who served in Trudeau's government from 2015-2020. During a recent interview with a Canadian news program, Morneau suggested scrapping the oil and gas cap in light of Trump's election. "I respectfully disagree with minister Morneau", Guilbeault said. "The time to fight climate change is now. It's not tomorrow. It's not the day after tomorrow." Speaking to reporters earlier in the day in Baku, Guilbeault declined to comment "on what the new administration will or won't do." While Trump's election may not affect policy north of the border, Canada's Liberal Party could get voted out of power next year. The Conservative Party, which is well ahead in recent election polls, is campaigning on a platform that calls for ending the federal carbon tax and potentially other climate policies. But policies that have industry backing could survive . Canada must hold its next federal election no later than October 2025. By Michael Ball Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Brazil's MAP imports were above average in October


24/11/12
24/11/12

Brazil's MAP imports were above average in October

London, 12 November (Argus) — Brazil imported 441,000t of MAP in October, slightly above the five-year average for the month, according to Global Trade Tracker (GTT) data. Morocco's share of MAP exports fell on the year and was exceeded by the market shares of Saudi Arabia and Russia. MAP imports last month were below the 470,000t recorded in October last year but slightly above the 2019-23 October average of 424,000t. Receipts in the first 10 months of this year totalled about 3.76mn t, a sharp decline from 4.32mn t a year earlier, but only slightly below the 3.9mn t average over 2019-23. Since July, receipts have been above the norm, helping offset below-average imports in the first half of this year. A total of 457,000t of MAP are lined up to arrive in November so far, according to Unimar line-up data. This is below the 496,000t in November last year but above 411,000t in November over 2019-23. A further 28,000t have already been earmarked for December arrival. Brazilian MAP imports typically peak in July and remain at above 400,000t from July-November, according to the five-year average. Morocco's share falls Morocco's market share of the Brazilian MAP market fell by 20.2 percentage points on the year to 26pc last month, or 115,000t. Russia was the largest-single exporter to Brazil last month at 179,000t, representing a 40.5pc market share compared with 25pc in October last year. Saudi Arabia's share rose by 8.8 percentage points to 28.8pc, or 127,000t, also surpassing Morocco's share. Russia has remained the top MAP exporter to Brazil every month this year apart from in August, when it was surpassed by Morocco. And for the first month since July last year, Saudi Arabia's share of Brazilian MAP imports outweighed that of Morocco. About 44.9pc of November MAP deliveries to Brazil were of Russian origin, against only 8.8pc for Morocco and 16.8pc for Saudi Arabia, Unimar line-up data suggest. The US is set to deliver 25.8pc of November volumes. Moroccan phosphates exports to Brazil have focused more heavily on TSP this year. GTT data suggest that from January-August, Morocco sent 772,000t of MAP and 973,000t of TSP to Brazil, compared with more than 1mn t of MAP and 589,000t of TSP in the same period in 2023. And 542,000t of MAP is lined up to leave Jorf Lasfar in September-November, along with 438,000t of TSP, according to line-up data. Line-up data show that last year, 778,000t of MAP and 265,000t of TSP left the port over the same period. With lower volumes of Moroccan MAP on offer to Brazil this year, importers had to turn to Russia to secure the volumes they needed. Russia last week sold 30,000t MAP in the high $670s/t cfr to India, netting back to $623-627/t fob. This sale is above the netback of $603-605/t fob that Russia could have achieved with Brazil. By Adrien Seewald Brazil monthly MAP imports t Month 2024 2023 2019-23 October 441,000.0 470,000.0 424,000.0 September 430,000.0 474,000.0 475,000.0 August 564,000.0 532,000.0 475,000.0 July 525,000.0 519,000.0 501,000.0 — GTT Brazil monthly MAP imports by origin '000t Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Algerian bitumen importers eye resumed Spain flows


24/11/12
24/11/12

Algerian bitumen importers eye resumed Spain flows

London, 12 November (Argus) — Algerian bitumen importers are getting ready to resume cargo imports from Spain after the Algerian government signalled last week that trade can restart for the first time in more than two years. The government's decision in June 2022 to suspend a friendship and co-operation treaty with Spain, linked to Madrid's public recognition of Morocco's autonomy plan for Western Sahara, led to the immediate cancellation of previously agreed bitumen cargo movements from Spain to Algeria. In a notice issued by the Bank of Algeria on 6 November, Algerian firms were told they could resume trade with their Spanish counterparts under the usual transaction rules, and both state-owned and private Algerian bitumen importers say they are now free to discuss deals to buy and bring Spanish cargoes to their facilities for supply into the domestic market. No such deals are understood to have been concluded yet, but private importers into western Algerian import terminals like Ghazaouet, Oran and Arzew are well placed because of their relative proximity to Spanish export terminals at Tarragona, Huelva and Cadiz compared with existing supply sources in Italy and even more so when compared with cargoes shipped from Greece or Turkey. Ship brokers said freight rates for standard 5,000t bitumen tanker cargo movements from Tarragona — site of a 1.2mn t/yr Asesa bitumen refinery held in a 50-50 joint venture by Repsol and Moeve, formerly Cepsa, — to Ghazaouet are around $35/t, compared with around $50/t for the Augusta, Italy, to Ghazaouet route. Spanish and international bitumen trading and supply firms are still examining the Algerian developments and seeking clearance "on all sides", as one said today, before resuming bitumen cargo discussions with their Algerian counterparts. That could mean the actual restart of Spain-Algeria flows takes until early 2025. Demand for now may be hindered by a pre-winter slowdown in Algerian road construction and bitumen-consuming activity as weather conditions gradually worsen. Algerian state-owned Sonatrach, which imports cargoes into a raft of bitumen terminals along the country's Mediterranean coast, is largely dependent on substantial term flows from Sonatrach Raffineria Italiana's (SRI) 170,000 b/d refinery and export terminal at Augusta, Sicily, and occasionally takes Greek cargoes from Motor Oil Hellas' Agioi Theodoroi refinery and export terminal at Corinth. Sonatrach is less likely than private Algerian buyers to seek Spanish cargoes, on which it had been highly reliant until 2020 before it switched in a big way to Augusta after it bought the refinery there from ExxonMobil in 2018. Algerian market participants said the recent slippage in bitumen cargo prices linked to Mediterranean high-sulphur fuel oil (HSFO) declines and seasonally weakening bitumen cargo differentials to the regional HSFO cargo prices — coupled with a late season slippage in cross-Mediterranean freight rates over the past few weeks — are all factors conducive to resumed imports from Spain. Spanish fob cargo premiums to Mediterranean HSFO cargoes have dropped from around $10/t in mid-October to $2-3/t last week, while outright prices for Spanish bitumen exports have slipped from $498-499/t fob to $458/t over the same period. By Keyvan Hedvat Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Cop: Negotiators positive on remaining Article 6 talks


24/11/12
24/11/12

Cop: Negotiators positive on remaining Article 6 talks

Baku, 12 November (Argus) — Negotiators have a "positive attitude" towards outstanding talks on Article 6 of the Paris Agreement taking place at the UN Cop 29 climate conference in Baku, Azerbaijan, bolstered by the finalisation of crediting mechanism standards yesterday. The adoption of two key Article 6.4 standards on Monday night kicks off remaining talks on a very positive note, Switzerland's lead negotiator on international carbon markets under Article 6, Simon Fellermeyer, said. The approval has set the mood for remaining negotiations, lead Article 6 negotiator for New Zealand Jacqui Ruesga added. Article 6 of the Paris accord aims to help set rules on global carbon trade. Negotiators have already seen a more constructive attitude to discussions since the failed talks at Cop 28 in Dubai last December, Ruesga said. This was spurred on by disappointment at the lack of outcome last year, and supported by a number of informal meetings organised in the lead-up to June's Bonn climate conference, as well as increasing direction from heads of delegation on the subject. Divergence persists on some issues, but negotiators still have this positive attitude, Ruesga said. Different sides have also begun communicating the reasons behind their positions more clearly, Article 6 negotiator for Colombia Adriana Gutierrez added, which she hopes will help bring a result this year. Outstanding questions include how to deal with reporting inconsistencies and credit authorisations. Countries also still disagree on the question of whether Article 6.2's international registry should be capable of holding internationally transferable mitigation outcome (Itmo) units, or simply provide an accounting function. But talks on this point are progressing along the lines of deciding which potential functions of the registry could be integrated or dropped in the view of opposing sides, Ruesga said. The first ever Itmo transfer, which took place between Switzerland and Thailand earlier this year , would have been much easier through such a registry, Fellermeyer said. Gutierrez expects most remaining topics to be concluded ahead of Cop 30 in Belem, Brazil, next year. But some smaller, more technical elements are "bound to stick through" to the next summit, Ruesga said. There is not much appetite to reopen most elements for discussion next year, Fellermeyer said, meaning it could be that they are either concluded in Baku or left in a state of "constructive ambiguity". Agreement in Baku on the remaining Article 6 elements is important to give confidence to potential participants, Fellermeyer said, having encountered parties who declined to cooperate through the mechanism owing to a lack of visibility on the rules. By Victoria Hatherick Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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