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Major NOLA terminals closed for winter storm

  • : Agriculture, Biofuels, Chemicals, Coal, Crude oil, Metals, Oil products, Petroleum coke
  • 25/01/21

The port of New Orleans remains closed on Tuesday afternoon due to US Gulf coast snow storms, causing terminals to shut or declare force majeures.

Port officials cut off water supplies to port facilities beginning 19 January because of freezing temperatures, significant snowfall and high winds forecast by the National Weather Service (NWS). Operations are expected to be down at least for the rest of today.

Host's United Bulk Terminal location at Nola declared force majeure on 20 January because of an expected 3-6 inches of snowfall. The port of Lake Charles in Louisiana also closed on 20 January and the Sabine-Neches Waterway on the Texas-Louisiana border was closed on 21 January.

Associated Terminals at Nola closed its doors early on 21 January due to the storm. The company said vessels will be discharged once weather conditions improve and personnel are able to return to the site, but did not give a specific date.

Major barge line ARTco, the transportation arm of ADM, shut down operations as well and is anticipated to return to 22 January if weather permits.

CGB Barge has also halted operations in New Orleans and is waiting for conditions to improve before resuming work.

Arctic conditions are anticipated at the port through Thursday, according to the NWS. Travel will be hazardous due to the snow, ice and wind chill of up to 20mph.


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25/02/12

Cyclone Zelia threatens Australian Fe, Li, Mn exports

Cyclone Zelia threatens Australian Fe, Li, Mn exports

Sydney, 12 February (Argus) — Cyclone Zelia off Western Australia's (WA) Pilbara coast is on track to make landfall on 13 February, threatening iron ore, lithium and manganese exports from the region. Australia's Bureau of Meteorology (BoM) expects the cyclone to develop into a relatively rare and extremely powerful category three system on 13 February, as it starts heading towards WA's mines. The Pilbara Ports Authority (PPA) will close Port Hedland — Australia's largest iron ore export hub — at 6pm local time (7am GMT) on 12 February, having started clearing ships out of its berths a day earlier. Port Walcott — a smaller export facility to the west of Port Hedland — is also emptying its berths, in preparation for the cyclone. Cyclone Zelia on 14 February will pass over a part of WA where Fortescue's Iron Bridge mine, Mineral Resources' Wodgina lithium mine, Pilbara Minerals' Pilgangoora lithium mine, and three of Atlas Iron's mines are located, according to BoM forecasts. The cyclone will then move south over Fortescue's Christmas Creek and Cloudbreak iron ore mines, the Roy Hill iron mine, and Consolidated Minerals' Woodie Woodie manganese mine early on 15 February, before losing energy and dissipating by the next morning. Cyclone Zelia is the third weather system to disrupt WA's ports this year. Cyclone Sean flooded parts of Port Dampier and forced PPA to close all of its export facilities for two days at the end of January. Ships subsequently started moving out of Port Walcott and Port Dampier over the first week of February because of Cyclone Tahlia, driving Rio Tinto's exports to their lowest point since at least January 2019 . But WA has experienced extreme weather events before. Cyclone Veronica shuttered three WA ports for nearly a week in March 2019 . Cyclone Isla in April 2024 also drove PPA to close Port Hedland for two days . The four main iron ore prices that Argus assesses have risen over the last month (see chart) . Argus' Iron ore fines 62pc Fe (ICX) cfr Qingdao price rose to $105.80/t on 11 February, from $97.90/t on 13 January. By Avinash Govind Iron ore prices $/t Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Mexican steel faces few outlets in wake of US tariffs


25/02/11
25/02/11

Mexican steel faces few outlets in wake of US tariffs

Houston, 11 February (Argus) — Mexican steelmakers, facing sluggish domestic demand, could struggle to find outlets for production after the elimination of US steel tariff exemptions. US president Donald Trump on Monday revoked all exemptions from the 25pc steel import tariff, effective 12 March. Canada and Mexico as part of the US-Mexico-Canada Agreement (USMCA) were exempt from Section 232 25pc steel tariffs announced in 2018, along with Argentina, Australia, Brazil, the EU, Japan, South Korea and the UK. The renewed 25pc tariffs also include "derivative steel articles" — downstream and value-added products. Mexico also faces the potential imposition of a 25pc all-goods tariff in March by the Trump administration. Originally meant to be imposed on 1 February, the tariff was delayed by 30 days on 4 February. Should the tariff — which only included Mexico and Canada — be imposed at the end of the postponement, US buyers could face a 50pc tariff on Mexican steel. More Mexico capacity looms The gap left by the imminent exit of the US as a free trade partner leaves Mexican steelmakers with few obvious outlets as a slew of incoming capacity expansions are poised to bloat domestic inventories. Mexico produced 18.2mn metric tonnes (t) of steel in 2024 , down from 19.85mn t in 2023 as steelmakers pulled back production to counter weak demand, according to Mexican steel association Canacero. Mexico exported 3mn t of steel in 2024 — 2.3mn t of which went to the US, according to Canacero. That was followed by Canada, which imported just 118,000t in 2024, and Saudi Arabia, which imported 90,000t. Still, Mexican mills are expected to add more than 5mn t/yr of additional steel production by the first half of 2026. About half of that will come from steelmaker Ternium's slab mill in Pesquería, Nuevo León, which is expected in the first half of 2026. The Ternium slab mill's location in northern Mexico was meant to help supply steel to the USMCA region . Some in the market more recently told Argus that the new tariffs would have very little effect on Pesquería's strategy — positing that the slab produced there could be exported to Ternium's facilities in Brazil. Still, Mexico only exported 27,000t of steel to Brazil in 2023 and it was not listed as a top-10 export partner in 2024. Long steelmaker Deacero in 2023 also announced a $1bn expansion over three years to grow production by 1.2mn t/yr. Deacero's expansion, too, was aimed at meeting expected nearshoring-driven demand in the medium and long term. In 2023, long steelmaker Simec announced a new 500,000t/yr rebar mill and Brazilian steelmaker Gerdau in May announced it was exploring sites for a 600,000t/yr special steel mill in Mexico. Slow demand adds further pressure In the absence of overseas demand for steel, Mexican steelmakers could have to look to a shaky domestic market to offload production. Federally funded infrastructure projects like the Tren Maya, the Olmeca Refinery in Tabasco and the Felipe Ángeles airport near Mexico City either wound down or concluded by 2024. The projects took with them a boon in steel demand and production that faded further as buyers were reluctant to commit to tons before the general elections in June 2024. That demand has yet to recover. Mexican president Claudia Sheinbaum, who took office in October, campaigned partly on the construction of 1mn homes — which would require an uptick in rebar consumption. Sheinbaum is expected to announce her full infrastructure plan on 17 February. The market has few other options for Mexican-produced steel should the government not adopt publicly funded steel-consuming projects as the country faces expectations of slower economic growth this year. Nearshoring efforts, including plans for domestic production of electric vehicles (EVs) from both Chinese EV makers and US automaker Tesla, have stagnated. A wider count of new foreign direct investments in Mexico shrank last year to the lowest level since 2014 . Sheinbaum on Monday confirmed that the Mexican government learned of the steel tariffs from media outlets. Any previously discussed retaliatory measures would come after a clarification of the tariffs, Sheinbaum added. By Marialuisa Rincon Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

California aims to expand alternative bunkers


25/02/11
25/02/11

California aims to expand alternative bunkers

New York, 11 February (Argus) — California lawmakers will consider expanding alternative marine fuels use by ocean-going vessels on the state's coast. State senate bill 298, introduced by state senator Anna Caballero (D), would require the California State Energy Resources Conservation and Development Commission (Energy Commission), the California Transportation Agency and the state board to develop a plan by 31 December 2030 for the use and deployment of alternative fuels at California's public seaports. The plan should identify significant alternative fuel infrastructure and equipment trends, needs, and issues and describe how the state will facilitate permitting and construction of infrastructure to support alternative fuels. The plan should also identify locations for alternative fuel infrastructure, provide a reasonable timeline for its installment and estimate the costs, including public or private financing opportunities. The bill also calls for the Energy Commission to convene a working group consisting of representatives of seaports, marine terminal operators, ocean carriers, waterfront labor, cargo owners, environmental and community advocacy groups, the Transportation Agency, the state board, the Public Utilities Commission, and air quality management and air pollution control districts. The working group will advise the commission. The US territorial waters, including California's, are designated as emission control areas (ECAs). In the ECAs, the sulphur content of marine fuel burned by ocean-going vessels is capped at 0.1pc. Thus ocean-going vessels within 24 nautical miles of California burn 0.1pc sulphur maximum marine gasoil (MGO). Ocean-going vessels could achieve the equivalent of 0.1pc sulphur marine fuel emissions by installing marine exhaust scrubbers. But California has banned their use. California is the only US state that has banned the outright use of marine scrubbers. California also requires that ocean-going vessels while at berth in California ports must either use shore power or use alternative technology such as batteries. The regulation came into force for container ships, reefers and cruise ships in 2023. It came into force this January for tankers visiting Los Angeles and Long beach and for roll on roll off vessels. Starting on 1 January 2027, it will apply to all tankers at berth in all California's ports. US harbor craft vessels (such as barges, commercial fishing vessels, excursion vessels, dredgers, pilot vessels, tugboats and workboats) in California's waters are required to burn renewable diesel (R99 or R100). By comparison, elsewhere in the US, harbor craft vessels are required to burn ultra-low sulphur diesel (ULSD). In January, Los Angeles ULSD averaged at $773/t and R99 at $962/t. By Stefka Wechsler Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trump steel tariffs end exclusions, expand scope


25/02/11
25/02/11

Trump steel tariffs end exclusions, expand scope

Houston, 11 February (Argus) — The US' planned extension of 25pc import tariffs on steel set to go into effect on 12 March will wipe out existing import quotas, exclusions and agreements established during the first administration of President Donald Trump, essentially resetting the playing field for US steel imports. The proclamation signed by Trump on 10 February said the tariffs are intended to increase US steel capacity utilization to 80pc and close loopholes in the existing tariff scheme that have led to increased imports. This would mean certain products that had been excluded from past tariffs, including those not currently made domestically, would no longer be able to be exempted once existing exclusion orders expire or volume quotas are reached, whichever happens first. Trump's latest tariff push will also target a broader swath of downstream steel products, while setting up a dedicated process for US producers and industry groups to request products be subject to the 25pc tariff. The US will determine whether or not to include the product within 60 days of the request. The Trump proclamation cited increased imports of steel derivative products, such as fabricated structural steel and pre-stressed concrete strand, as signs of countries evading the existing tariff, which was implemented under Section 232 of the Trade Expansion Act. Market participants widely expected the reinforcement of the 25pc import tariff for steel. But many initially downplayed the possibility for the import tariff rate to increase to 50pc for Canada and Mexico, which would be the case if the US moves forward with proposed blanket 25pc duties for those two countries next month. Trump first imposed Section 232 national security tariffs of 10pc on aluminum and 25pc on steel imports in March 2018. Since then the tariffs have been partially rolled back on certain countries, while importers were allowed to ask for product-specific exclusions. Currently Australia and Canada can export any steel and aluminum they want to into the US without tariffs, while Mexico can export steel melted and poured in the US-Mexico-Canada (USMCA) agreement region into the US without tariffs, while any material with an origin outside of USMCA is subject to 25pc tariffs. Steel tariff rate quota (TRQ) systems were in place for Argentina, Brazil, the EU, Japan, South Korea and the UK for steel products, with specifics dependent on the country. Steel imports are heavily reliant on the nontariffed countries, with their volumes making up 80pc of the 26.2mn metric tonnes (t) of steel products imported in 2024, according to US Department of Commerce data. By Blake Hurtik Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Brazil’s January inflation lowest since 1994


25/02/11
25/02/11

Brazil’s January inflation lowest since 1994

Sao Paulo, 11 February (Argus) — Brazil's monthly inflation stood at 0.16pc in January, the lowest increase for the month since 1994 when the government enacted multiple measures to contain soaring inflation, according to government statistics agency IBGE. The consumer price index (CPI) slowed annually to 4.56pc from 4.83pc in December, heavily influenced by a 14.2pc tumble in power costs in January, compared with a 3.19pc drop in December. Power costs decelerated January's inflation by 0.55 percentage points — the major individual contributor to the annual drop, according to IBGE — thanks to a R1.3bn ($224mn) federal discount in power tariffs that month, CPI's manager Fernando Goncalves said. Food and beverage costs rose by an annual 7.25pc, decelerating from 7.69pc in December. Beef costs increased annually by almost 21.2pc following a 20.8pc gain in the month prior, while soybean oil costs decelerated to 24.55pc over the last 12 months from 29.2pc in December. Motor fuels prices rose by 11.35pc in January. Ethanol was responsible for the group's largest annual increase of 21.59pc, up from 17.58pc in the month prior. Gasoline and diesel prices also registered annual rises of 10.71pc and 2.66pc from 9.71pc and 0.66pc, respectively. Still, diesel prices remained at a 0.97pc monthly increase from December, while ethanol costs contracted by 1.82pc from 1.92pc and gasoline prices increased by 0.61pc from 0.54pc. Fuel prices are likely to keep increasing in February, as states increased the VAT-like ICMS tax on fuels and state-controlled Petrobras increased wholesale diesel prices by 6.3pc , both effective as of 1 February. Transportation costs rose by 1.3pc in January over the year, following a 0.67pc gain in December. Flight tickets were the most responsible for the increase, with a 10.42pc monthly gain from a 22.2pc contraction in December. Brazil's central bank is targeting CPI of 3pc with a margin of 1.5 percentage point above or below. The bank raised its target rate to 13.25pc in January after it failed to maintain Brazil's headline inflation under the ceiling of 4.5pc for 2024. Further increases are expected in the coming months, the bank said. The central bank has recently changed the way it tracks the inflation goal. Instead of tracking inflation on a calendar year basis, it will now monitor the goal on a 12-month basis. In 1994, Brazil enacted its Plano Real, a series of measures to stabilize the economy and detain soaring inflation, which had hit an annual 916pc by the end of that year. One of the measures was to change its currency to the real from the cruzeiro real. By Maria Frazatto Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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