Brent futures for May declined 63 cents, or 0.6%, to $99.83 a barrel at 1124 GMT, heading for a weekly increase of 8%. U.S. West Texas Intermediate (WTI) crude for April declined $1.29, or 1.4%, at $94.44 a barrel, set for a 4% uptick for the week.

An India-flagged oil tanker moved out from the east of the Strait of Hormuz carrying gasoline bound for Africa, an Indian government ​official said on Friday.

“Some oil is coming through the strait, but it does not mean it will reopen,” said Tamas Varga, an oil ​analyst at brokerage PVM. “This dip should be viewed as short-lived.”

The U.S. issued a 30-day license for countries to buy Russian oil and ⁠petroleum products stranded at sea. Treasury Secretary Scott Bessent said it was a step to stabilise global energy markets roiled by the U.S.-Israeli war on Iran.

This will affect 100 ​million barrels of Russian crude, equal to almost a day’s worth of global output, according to Russia’s presidential envoy Kirill Dmitriev.

“Russian oil was already going to buyers; ​this is not bringing additional barrels to the market but it does reduce some friction,” said Bjarne Schieldrop, chief commodities analyst at SEB.

“The market is starting to get very concerned that this (war) is going to last longer. The big fear is that we have severe damage to oil infrastructure, which would be a lasting loss of supply.”

The announcement on Russian oil came ​a day after the U.S. Energy Department said Washington would release 172 million barrels of oil from its Strategic Petroleum Reserve to help curb skyrocketing oil prices.

That plan was ​coordinated with the International Energy Agency, which has agreed to release a record 400 million barrels of oil from strategic stockpiles, including the U.S. contribution.

Fleeting relief sparked by the IEA release, ‌however, was ⁠shattered by a re-escalation of Middle East risks, IG analyst Tony Sycamore said in a note.

Iran’s new Supreme Leader Ayatollah Mojtaba Khamenei said Iran would fight on, and keep the Strait of Hormuz shut as leverage against the United States and Israel.

Two fuel tankers in Iraqi waters were struck by explosives-laden Iranian boats, Iraqi security officials said on Thursday. An Iraqi official told state media the country’s oil ports have completely stopped operations.

U.S. President Donald Trump said on Thursday the United States stood ​to make significant money from oil prices, driven ​higher by the war with Iran. ⁠But stopping Iran from getting nuclear weapons was far more important, he said.

Both benchmark prices surged more than 9% on Thursday and hit their highest levels since August 2022.

Goldman Sachs predicted on Friday that Brent oil would average more than $100 ​a barrel in March and $85 in April, as energy prices remain volatile due to the Iran war, damage to ​Middle East energy infrastructure ⁠and disruptions in the Strait of Hormuz.

Brent is better supported than WTI because Europe is more susceptible to energy security issues, while the U.S. is able to stave off its exposure due to its domestic output, said Emril Jamil, senior analyst at LSEG.

In another sign the disruptions may drag on, sources told Reuters that Iran had deployed ⁠about a dozen ​mines in the strait, a move that is likely to complicate the reopening of the critical ​waterway.

Meanwhile, U.S. Treasury Secretary Scott Bessent told Sky News in an interview that the U.S. Navy, perhaps with an international coalition, would escort vessels through the Strait of Hormuz when it is militarily possible.

Reporting by ​Anna Hirtenstein for Reuters

Specializing in liquefied natural gas transportation, Virtu GNL complements transportation to pipelines, employing trucks fueled by LNG over long distances, especially in regions not covered by Brazil’s pipeline network.

“Virtu GNL brings expertise, technical resources, and equipment, as well as the necessary means for the development of the decarbonization project. We are committed to conducting studies to effectively contribute to reducing carbon emissions and using cleaner energy sources at the Port of Itaqui and in Maranhão,” explains José de Moura Júnior, CEO of Virtu GNL.

Under the Memorandum of Understanding (MOU) signed, both parties commit to installing and developing the project, aiming for pioneering and efficient reduction of carbon emissions at Porto Itaqui. This includes the gradual replacement of the heavy vehicle fleet with others using cleaner technology or fuels, including those powered by LNG (Liquefied Natural Gas), as well as LNG refueling for ships.

Virtu GNL is part of a group with over 50 years of history, relying on safety, reliability, and innovation. It transports over 600,000 m³ of gas per day and in 2024 surpasses the 1 million m³/day mark.

In addition to this MOU, the Consortium also signed an agreement at Intermodal for the decarbonization of ports in Brazil, the Declaration of Intention for Cooperative Action, committing to promoting the decarbonization of the Brazilian port sector, aiming for a more sustainable port ecosystem.

This pioneering initiative in the sector will contribute to ensuring that port activities are designed to minimize the release of polluting gases into the atmosphere. The decarbonization plan will be implemented through the Brazilian Alliance for Port Decarbonization (ABDP).

The operation unfolded at berths 102, 104, 106, and 108 of the port. At berth 102, the Petrobras vessel Ioannis Zafirakis unloaded 5,000 tonnes of fuel oil. At berth 104, the Petrobras vessel Darcy Ribeiro discharged 3,500 tonnes of Liquefied Petroleum Gas (LPG).

Berth 106 saw the Petrobras vessel NT Torm Aslaug engage in a Ship-to-Ship operation, unloading 20,000 cubic meters of gasoline to the Raízen vessel PS Singapore. At berth 108, the Raízen vessel Fair Wonder unloaded 10,000 cubic meters of diesel S10.

The operation took about 48 hours and was considered a success. The port is the largest in Brazil’s North/Northeast region in terms of cargo throughput and one of the country’s most significant.

The simultaneous operation of five fuel vessels at the Itaqui Port marks a milestone for maritime transport logistics in Maranhão, showcasing its ability to efficiently and safely meet high-stake demands.

“Transpetro strives to find options to increase the efficiency of our operations at the Itaqui Port, always aiming at reducing bottlenecks, increasing flexibility, and reducing the waiting time for our clients’ vessels,” emphasized José Carlos de Souza Júnior, the sector manager of Transpetro’s São Luís Terminal.

As a leader in maritime services in Brazil, with 19 weekly calls, TCP saw the highest number of vessel berthings for a single month in December, with 83 vessels surpassing the previous mark of 77 ships set in October of the same year.

November was also the stage for two records at the terminal’s nine gates (truck entry and exit points). Throughout the eleventh month of the year, 49,517 containers made a passage through the terminal, 2,345 in a single day, surpassing the previous monthly records.

Operations with refrigerated containers (reefer) reached 11,487 in October, a 6.79% increase compared to the previous peak in June. “The transportation and storage of refrigerated containers are among the most prominent segments within the terminal, prompting us to invest in expanding the number of reefer yard outlets from 3,624 to 5,268, a 45% increase that positions TCP as the largest refrigerated container yard in South America,” underscored Giovanni Guidolim, TCP’s Commercial, Logistics, and Customer Service Manager.

Agribusiness products lead exports at TCP

The report also highlighted positive results in various export segments. Animal protein, the terminal’s primary export commodity, saw a 19% increase compared to the same period in 2022, reaching 235,898 TEUs exported. This volume includes frozen chicken (181,878), beef (37,169), and pork (14,369). TCP is now recognized as the world’s largest corridor for frozen chicken exports.

Compare below the shipments of beef, pork, and poultry from Brazil’s Paranagua Container Terminal between January and November 2023. The data used in the chart below was gathered through Datamar’s pioneering market intelligence service, DataLiner.

Animal Protein (Meat) Exports from TCP | 2023 | TEU

Source: DataLiner (click here to request a demo)

Sugar saw the greatest variation in the volume exported during the period, with a staggering 12,667% increase from 45 TEUs in 2022 to 5,745 TEUs in 2023.

In terms of imports, the primary shipments that arrived at TCP were chemicals (43,756), machinery and mechanical components (34,081), and plastics and articles (31,489).

Source: TCP via Noticias Agrícolas

In 2023, the imported volume of diesel reached 14.7 million cubic meters (m³), the second-highest value in the historical series. The report, authored by analysts Bruno Cordeiro and Isabela Garcia, attributes the decline in diesel imports to factors such as the expanded production of diesel A (without biodiesel addition) by refineries and the increase in the biodiesel blending rate from 10% to 12%.

December stood out as a highlight for diesel, recording the highest volume in the historical series for the month at 1.91 million m³.

Russia emerged as Brazil’s primary diesel supplier, accounting for 50.45% of total external purchases, followed by the United States at 24.47%. The Western embargo on Russian products in response to the Ukraine invasion led Russia to redirect its products to other markets, finding demand for derivatives in Latin America, noted the consulting firm.

Between January and November of the past year, diesel sales grew by 3.4% compared to the same period in 2022, reaching 60.16 million m³. This surge was driven by positive economic performance and increased soy and corn production, necessitating more deliveries.

In the case of gasoline, imports totaled 4.16 million m³ last year, an 8.2% reduction from 2022. December saw an 80.5% decrease in external purchases compared to the same month in 2022.

Source: Valor Econômico

The FSSC 22000 encompasses all aspects of food safety, including risk management, quality control, hygiene practices, personnel training, and supplier monitoring. It is endorsed by the Global Food Safety Initiative (GFSI), an international organization dedicated to developing and promoting global food safety standards.

Iceport provides comprehensive solutions that integrate management and logistics for warehousing, road transport, and reefer container depot operations for both exports and imports. Spanning an area of 50,000 square meters, it offers a static storage capacity of 16,000 pallet positions and a pre-chamber with 13 docks for goods receiving and dispatch. From January to September, the facility handled 172,000 tons, with 60% of the goods comprising poultry and pork, 36% of potatoes and other vegetables, and 4% of beef. This recognition serves as a significant asset for increasing their operational throughput.

The chart below shows the throughput of reefer containers associated with Iceport, the cold room facility at Portonave, from Jan 2019 to Aug 2023. The data is from DataLiner.

Reefer container throughput | Portonave | Jan 2019 – Aug 2023 | TEUs

Source: DataLiner (click here to request a demo)

Established in 2000 by a consortium of retailers and food manufacturers, the Global Food Safety Initiative (GFSI) is an international business initiative aimed at continuously improving food safety management systems. Its goal is to instill confidence in providing sanitary food to consumers worldwide. Moreover, it is based on ISO 22000 (Food Safety Management) principles, making it compatible with other management systems, such as ISO 9001 (Quality Management).

In total, 46,006 containers of frozen chicken were exported through the Port of Paranaguá Container Terminal in the first half of the year. The export increase triggered two records in June: one for reefer volume (containers with temperature control) and another for container movements per hour on the pier. This occurred because frozen meat is the primary commodity exported in reefer boxes, which boosted productivity at the company.

TCP’s commercial, logistics, and customer service manager, Giovanni Guidolim, highlights that “we are a global reference in the export of frozen chicken meat, being the largest export corridor for this kind of protein. We export to the main destinations, with an emphasis on China, due to its high demand. To meet the growing market needs, we invested in the reefer area of the terminal, which is the largest in Brazil, providing operational flexibility for receiving and storing in line, according to the segment’s requirements.”

Another characteristic that led to the increase in movements at TCP was the railway, the only one in the country’s southern region with direct access to the customs area. The commercial manager says, “The railway is responsible for transporting one in every five export containers to the terminal. In addition, 70% of the volume that arrives at TCP via railway consists of frozen meat. It is an operation that brings reliability, cost reduction, and sustainability to the market.”

Record in Paraná

Paraná is the state that produces the most chicken meat for export through TCP. In addition to the growth at the terminal, the state also reached a historical production record. According to data from Ipardes (Paraná Institute of Economic and Social Development), 1.073 million tonnes of this animal protein were produced in Paraná and sold to foreign countries in the first half of 2023.

This was the best performance presented by the state since the beginning of the historical series released by the national agency in 1997. The number represents 41% of the national transactions of the product in the international market. The result of these negotiations reached $1.937.444.604.

The test aims to demonstrate the safety of the operation to the authorities responsible for authorizing this type of activity in the Maranhão-based public port. Ship-to-ship operations are a maneuver between ships that can occur both in the open sea (underway) and in port areas, with ships docked (double banking).

Ship-to-ship transfers boost port activities as it streamlines port operations and is used worldwide. “The Port of Itaqui has three berths that handle fuels, and by enabling this operation, we can double the capacity with a smaller investment than, for example, building a new berth. Besides, we can achieve faster delivery and higher productivity levels. It is undoubtedly a milestone for our port!” said Gilberto Lins, the president of EMAP.

“This type of operation is carried out in other terminals, such as Suape and Angra, and the benefits it brings to these ports are evident. That’s why it is a milestone to conduct this test in Itaqui. Now, we will wait for the approval of ANP to start operating, and we will certainly gain a lot in productivity, always prioritizing safety and the environment”, said Gerson Melo, general manager of operations at Transpetro.

Fuel hub

The Port of Itaqui is one of Brazil’s most important channels for receiving and distributing petroleum products in Brazil. It receives diesel, gasoline, aviation fuel, cooking gas (liquefied petroleum gas), and marine fuel (MGO) from other countries and also from other states of the country.

Fuels arrive by ship, and some go to distributors who supply gas stations in several states by rail and road. Another part is transferred to feeder vessels to other ports on the Brazilian coast, such as Fortaleza, Belém, and Itacoatiara.

In addition to expanding the existing terminals, Santos Brasil will also invest in constructing a third terminal (TGL 2), which is scheduled to begin in 2023. The acquisition of the three terminals at the Port of Itaqui by Santos Brasil took place in April 2021, with combined grants of BRL 157.3 million and initial investments of BRL 500 million in construction works. Over BRL 600 million will be dedicated to liquid bulk cargo movement in the Port of Itaqui.

Carlos Quintero, the director of Liquid Bulk at Santos Brasil, explains, “Santos Brasil, with 25 years of experience in containers and integrated logistics, ventured into the liquid bulk sector in the Port of Itaqui due to the excellent infrastructure available at the port. The port is a distribution hub for oil derivatives in the Northeast, North, and Midwest regions and has significant potential associated with agribusiness. Our presence aims to meet the increasing customer demand and contribute to the supply chain in the Arco Norte region.”

In terms of capacity, the ongoing works this year will increase the nominal storage capacity of TGL 1 from 34,000 m³ to 66,000 m³. At TGL 3, the construction of new tanks will provide an additional 30,000 m³ of nominal capacity, increasing it from 20,000 m³ to 50,000 m³. The terminals will have four dedicated pier lines for fuel, with access to the three berths handling liquid bulk in the Port of Itaqui.

Being connected to important railroads, the public port in Maranhão serves as a strategic corridor for Brazil’s Midwest, North, and Northeast markets. With the Santos Brasil liquid bulk terminals, the port can receive ships with up to 155,000 tonnes and distribute the products through road, rail, pipeline, and cabotage transportation.

The International Tank Container Organisation (ITCO) said that demand has recovered, resulting in tank container production reaching a high of 67,800 units in 2022.

ITCO’s 2023 survey shows that as of the start of 2023, there are 801,800 tank containers circulating worldwide, up nearly 9% from 2022 and 23% from the start of the pandemic in 2020.

The construction of new tank containers plummeted by more than 30% during the pandemic in 2020, then surged by 49% in 2021, and continued its growth last year, enabling the number of in-service tank containers to exceed the 700,000 mark.

More freight forwarders have also started transporting tank containers, with 240 companies as of January this year, up slightly from 235 a year ago.

ITCO said, “During the Covid-19 pandemic, supply chain disruption led to a shortage of tank containers – and, in turn, a demand by operators and beneficial cargo owners for equipment. This shortage resulted in a record demand for equipment with tank manufacturers, leasing companies and operators all achieving a particularly successful year in 2022.”

Stolt-Nielsen unit Stolt Tank Containers remains the largest tank container operator, with 47,000 units, followed by Hayer Group with 39,900 units, Newport with 38,500 units and China Railway Logistics with 27,500 units.

ITCO’s survey also showed EXSIF Worldwide remains the largest lessor of tank containers, with 70,000 units, followed by Eurotainer, with 55,000 units and Seaco Global, with 42,000 units.

ITCO noted, “Based on its successful growth in recent years, the industry is continuing to attract smaller players to enter the market – often offering tank container services in niche markets, such as Southeast Asia. However, existing operators also report a greater emphasis on the part of shippers to value relationships as a means to forge loyalty, quality and dependable supplies of tanks, moving away from the erratic spot market and on-line price focused competitive bidding.”

The trade body cautioned that the resurgence in tank container construction, and the delays in disposing of older units, could result in overcapacity.

ITCO pointed out, “Instead of disposing of older tank containers (or taking them out of operational circulation), older tank containers have in many cases been repaired and brought back into service. However, as in previous global recessions, growth in the global tank container fleet could mean an oversupply of equipment this year.”

Source: Container-News

To read the original news report, please visit: https://container-news.com/tank-containers-see-post-pandemic-revival/