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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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25/06/23

Iran raises Hormuz closure threat after US strikes

Iran raises Hormuz closure threat after US strikes

Dubai, 23 June (Argus) — A senior Iranian lawmaker says parliament has concluded that the strait of Hormuz "should be closed" in response to US airstrikes on three nuclear sites early Sunday — a move that would severely disrupt global oil flows. Esmaeil Kowsari — a member of the national security and foreign policy commission, and a former high-ranking commander in the Islamic Revolutionary Guard Corps (IRGC) — told state-owned Press TV that lawmakers had reached a consensus that closure would be the appropriate response. Argus understands that while members of parliament were all in agreement, the issue was not formally put to a vote. Kowsari said the final decision lies with the Supreme National Security Council, Iran's top security body. His comments have drawn global attention as markets await Iran's response to the strikes, which US president Donald Trump ordered against nuclear facilities at Fordow, Natanz and Isfahan. The Fordow site is heavily fortified and located underground. The Natanz facility had already been targeted by Israeli strikes, prompting a series of retaliatory missile and drone exchanges between Iran and Israel. Iranian officials, including supreme leader Ayatollah Ali Khamenei, had repeatedly warned Washington that any direct military action would trigger a response causing "irreparable" harm to the US. . Variety of options The strait of Hormuz is the world's most critical oil transit route, with around 17mn b/d of crude and refined products — roughly a quarter of global seaborne oil trade — passing through it. Iran has repeatedly threatened to close the strait in past confrontations but has never followed through. It has, however, previously targeted or seized vessels transiting the waterway, prompting some shipowners to consider alternative routes. Closure of the strait is one of several retaliatory options regularly floated by Iranian political and military leaders. Others include military strikes on US bases across the Mideast Gulf. The US maintains installations in Bahrain, Qatar, the UAE, Kuwait, Saudi Arabia and Iraq. Asked whether closing the strait was under consideration, Iranian foreign minister Abbas Araqchi declined to confirm, saying only that "there are a variety of options available to us". Araqchi travelled to Moscow late on Sunday and is expected to meet Russian president Vladimir Putin on Monday. Moscow has condemned the US strikes. Ali Akbar Velayati, a long-time adviser to Khamenei, also issued a veiled threat to Washington, saying: "West Asia is not Greenland, and the strait of Hormuz is fundamentally different from the Panama Canal." The comment referenced earlier threats by Trump to assert US control over Greenland and the Panama Canal during the early days of his second term. US secretary of state Marco Rubio warned that any attempt by Iran to close the strait would be "a terrible mistake." "It's economic suicide for them if they do it, and we retain options to deal with that," he said. By Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

NZ’s Genesis Energy to maintain coal generators to 2035


25/06/23
25/06/23

NZ’s Genesis Energy to maintain coal generators to 2035

Sydney, 23 June (Argus) — Four New Zealand utilities have signed a non-binding agreement to support utility Genesis Energy's coal and gas-fired Rankine generators at its 953MW Huntly power station through to 2035, underpinning New Zealand coal demand for a decade. The company announced the deal on 19 June. It did not reveal the specific support mechanisms in the deal, but likely involves the other utilities making annual payments in exchange for the right to buy electricity from the company's Huntly power station as needed. Genesis will use the support to maintain its Rankine units until 2035 and build a fuel reserve at Huntly. One of the generators was set to retire in 2026, and two others were previously set to shut early in the next decade. Maintenance will be required on the unit set to retire in 2026. Genesis expects to finalise an agreement with the other utilities by the start of 2026, with the aim to have all Rankine units on line by mid-2026 in time for New Zealand's winter period. Genesis' Rankine units at its Huntly power station play a supporting role in New Zealand's power system, firing up when renewable generation from hydroelectric, geothermal and wind sources falls. The company is working on transitioning its Rankine units to biomass generators, but this is dependent on economic viability of black wood pellet prices . Indonesian sub-bituminous coal, which Genesis uses to power Huntly, is currently much cheaper than pellets. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Brent crude tops $80/bl after US strikes on Iran


25/06/23
25/06/23

Brent crude tops $80/bl after US strikes on Iran

Singapore, 23 June (Argus) — Crude oil futures rose in early trading on Monday, sending Brent crude to a five-month high above $80/bl, after the US bombed Iran's nuclear sites. The front-month August Brent contract on Ice rose by 5.7pc to a high of $81.40/bl shortly after trading got underway in Asia. Brent last closed above $80/bl in January. Prices later eased, with Brent trading at $78.92/bl at 7:40am Singapore time (23:40 GMT). The Nymex front-month August WTI contract rose by 6.2pc to a high of $78.40/bl, before dropping back to $75.74/bl. The US carried out air strikes on Iran's Fordow, Natanz and Isfahan nuclear sites early on 22 June local time. The strikes were a "spectacular military success" and the sites have been "completely and totally obliterated", US president Donald Trump said. The International Atomic Energy Agency (IAEA) confirmed the attacks and said it had identified extensive damage to the Isfahan site in particular. It said the extent of damage to the Fordow facility, which is heavily fortified and built inside a mountain, is unclear. Radiation levels at the sites have not increased following the strikes, it said, citing Iranian authorities. Iran's foreign ministry condemned what it described as "brutal military aggression" by the US against its nuclear facilities. It remains unclear how Tehran will respond to the attacks. Any attempt by Iran to close the strait of Hormuz would be "a terrible mistake," US secretary of state Marco Rubio said on 22 June. The strait is the global oil market's single most vulnerable chokepoint, through which pass about 17mn b/d of crude and products, or about a quarter of seaborne oil trade. "It's economic suicide for them if they do it, and we retain options to deal with that," Rubio said. By Kevin Foster Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US bombs nuclear sites in Iran: Update


25/06/22
25/06/22

US bombs nuclear sites in Iran: Update

Updates with remarks from President Donald Trump Washington, 21 June (Argus) — The US conducted air strikes on three nuclear facilities in Iran, President Donald Trump said Saturday evening. US bombers targeted the heavily fortified, underground facility at Fordow and sites at Natanz and Isfahan, Trump said on his social media platform. "The strikes were a spectacular military success," Trump said in a televised address Saturday night. "Iran's key nuclear enrichment facilities have been completely and totally obliterated. Iran, the bully of the Middle East, must now make peace. If they do not, future attacks will be far greater and a lot easier." Trump waited until after the US planes had left Iranian airspace before making the announcement. Israel's air and missile strikes, underway since 13 June, had already targeted those three facilities, in addition to some domestic energy infrastructure and urban areas across Iran. UN nuclear watchdog the IAEA on Friday warned of potential nuclear safety hazards from the ongoing Israeli attacks on Iran's nuclear facilities and cautioned Israel against targeting Iran's Busherh nuclear power plant and a nuclear research laboratory in Tehran. Washington-based military experts assessed that only the US Air Force had the right type of munitions to destroy Fordow. Involving the US in the Israel-Iran war is a watershed moment for Trump's presidency. Trump in the past decade has often lambasted his predecessors for involving the US in costly and fruitless military adventures in the Middle East. But he has changed his tune since the beginning of Israel's offensive on Iran, claiming that eliminating Iran's nuclear program was worth the US involvement. Trump, in his televised address, referenced the US' killing of senior Iranian military commander Qassem Soleimani in January 2020 — the last time US and Iranian forces directly exchanged fire. Tehran's response at that time involved missile attacks on US bases in Iraq that wounded more than 100 US military personnel, but drew no heavy US retaliation. The markets will closely watch Tehran's reaction to the US air strikes. Even before the US bombing raids, Trump's public musings about a possible US role in Israel's campaign against Iran in the past week spurred the oil industry and shipping sectors to increase the risk premiums embedded in their calculations. Most immediately at stake are Iran's 2.5mn b/d of crude, condensate and products exports, which mostly head to China. Oil markets are also concerned about the risk of contagion if Israel and the US draw retaliatory attacks elsewhere in the Mideast Gulf or jeopardize shipping through the strait of Hormuz — the global oil market's single most vulnerable chokepoint, through which pass about 17mn b/d of crude and products, or about a quarter of seaborne oil trade. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US bombs nuclear sites in Iran


25/06/22
25/06/22

US bombs nuclear sites in Iran

Washington, 21 June (Argus) — The US conducted air strikes on three nuclear facilities in Iran, President Donald Trump said Saturday evening. The US bombers targeted the heavily fortified, underground facility at Fordow and sites at Natanz and Isfahan, Trump said on his social media platform. He said he would make a televised address at 10pm ET Saturday "regarding our very successful military operation in Iran". "A full payload of BOMBS was dropped on the primary site, Fordow," Trump said. Trump waited until after the US planes had left Iranian airspace before making the announcement. Israel's air and missile strikes, underway since 13 June, already targeted those three facilities, in addition to some domestic energy infrastructure and urban areas across Iran. UN nuclear watchdog the IAEA on Friday warned of potential nuclear safety hazards from the ongoing Israeli attacks on Iran's nuclear facilities and cautioned Israel against targeting Iran's Busherh nuclear power plant and a nuclear research laboratory in Tehran. Washington-based military experts assessed that only the US Air Force had the right type of munitions to destroy Fordow. Involving the US in the Israel-Iran war is a watershed moment for Trump's presidency. Trump in the past decade often lambasted his predecessors for involving the US in costly and fruitless military adventures in the Middle East. But he has changed his tune since the beginning of Israel's offensive on Iran, claiming that eliminating Iran's nuclear program was worth the US involvement. Trump's public musings about a possible US role in Israel's campaign against Iran in the past week spurred the oil industry and shipping sectors to increase the risk premiums embedded in their calculations. Trump since 13 June alternatively held out the prospect of diplomacy and discussed killing senior Iranian leaders. Even today, after the US air strikes, Trump posted that "NOW IS THE TIME FOR PEACE!". The markets will closely watch Tehran's reaction to the US air strikes. Most immediately at stake are Iran's 2.5mn b/d of crude, condensate and products exports, which mostly head to China. Oil markets are also concerned about the risk of contagion if Israel and the US draw retaliatory attacks elsewhere in the Mideast Gulf or jeopardize shipping through the strait of Hormuz — the global oil market's single most vulnerable chokepoint, through which pass about 17mn b/d of crude and products, or about a quarter of seaborne oil trade. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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