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Rains persist in Brazil's Rio Grande do Sul
Rains persist in Brazil's Rio Grande do Sul
Sao Paulo, 13 May (Argus) — Downpours that began flooding Brazil's heavily agricultural Rio Grande do Sul in late April persisted over the weekend, continuing to wreak havoc in the state. Rains reached an accumulated 123mm (4.8 inches) on 10-12 May in state capital Porto Alegre, according to Brazil's national meteorological institute Inmet. Some areas experienced around 80mm of rain on 12 May alone, according to US National Oceanic and Atmospheric Administration. Showers in Porto Alegre have reached an accumulated 502mm in May already, according to Brazilian meteorological firm Climatempo. The monthly average is of 111mm. River and lake levels also kept rising. The Guaiba lake, in the state's capital, reached 4.9m (16ft) on Monday morning — up from 4.8m on 10 May, according to the state government. It is considered in a flood stage once it reaches 3m. Most rivers in the state, such as the Gravatai, Taquari and Uruguai, are also above flood levels. A bridge over the Cai River, which links Nova Petropolis and Caxias do Sul cities, broke partially on Sunday. As a result, a stretch of the BR-116 highway is closed, according to the national department of transport infrastructure. The river's levels are 6m above normal. Brazil's national center for natural disaster monitoring and alerts still considers the risk of "new hydrological occurrences" to be "very high" in Rio Grande do Sul and neighboring Santa Catarina state. The extreme weather has left 147 dead and 127 missing, according to the civil defense. Over 538,000 people are displaced. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
German heating oil demand surges as diesel declines
German heating oil demand surges as diesel declines
Hamburg, 13 May (Argus) — German heating oil sales have hit their second highest weekly average this year on the back of falling prices and low household stocks. Daily average traded volumes rose by 45pc last week compared with the previous week, with increases in all regions. Lower prices are the main reason for the growth in demand. The volume weighted average cost of heating oil in Germany was around €79.40/100 litres last week, the lowest since the start of the year. A significant factor behind the low heating oil price is a drop in the value of Ice gasoil futures, which has been driven by a diesel surplus in Europe. Low household stocks are also supporting German heating oil demand. Stocks reached a year-to-date low at the start of May, as in previous years, Argus MDX data shows. In contrast, German diesel sales dropped slightly last week, as an uptick in demand from the agriculture sector was offset by lower-than-expected demand from industry and logistics. There have been some tentative signs of economic recovery that may support diesel demand. Mileage of trucks on German motorways was up on the year in April and 1pc higher than in March, data from the federal statistical office Destatis show. This was the first year-on-year increase since August 2022. Construction activity in Germany rose by 3.9pc in January-March compared with the final quarter of 2023. By Johannes Guhlke Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Japan’s Daio Paper to explore biorefinery
Japan’s Daio Paper to explore biorefinery
Tokyo, 13 May (Argus) — Japanese paper manufacturer Daio Paper is planning a trial biorefinery, aiming to begin commercial production of sustainable aviation fuel (SAF), second-generation bioethanol and biodegradable plastic feedstock by the April 2032-March 2033 fiscal year. Daio, in partnership with domestic biorefinery venture Green Earth Institute (GEI), plans to develop technology to demonstrate manufacturing the bioproducts by 2030. Daio Paper plans to use wooden biomass, waste paper and paper sludge as feedstock. The company declined to disclose any planned commercial output capacity, as well as location of the biorefinery. The project is financed by Japan's state-owned research institute Nedo. Daio Paper is attempting to achieve decarbonisation, while weakening paper demand has forced the industry to seek new business opportunities. Fellow Japanese paper producer Nippon Paper has also tried to develop biorefinery technology with GEI, targeting to begin commercial production of bioethanol for SAF and petrochemical feedstock by 2027-28. By Nanami Oki Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Thailand’s base oil exports hit seven-year low in March
Thailand’s base oil exports hit seven-year low in March
Singapore, 13 May (Argus) — Thailand recorded its lowest base oil exports since March 2017 in March, reversing a brief recovery in February, according to GTT data. Exports fell to a new low because inventories remained tight owing to production issues at both Thai refineries from December 2023 to February 2024. Thai producers prioritised the domestic market and term obligations, leaving little surplus for the spot market. Thai suppliers typically export Group I heavy grades, which are valued for their higher solvency and viscosity properties for products such as marine lubricants and metalworking fluids. The monthly average Argus -assessed Asia fob export price for Group I SN 500 rose to $905/t, the highest since January; while bright stock increased to $1,104/t, its highest level since August 2022. Bright stock gained more upward support because it is typically the hardest to replace with other base oil grades. By Tara Tang Thailand's base oil exports kl Countries Mar'24 Feb'24 Feb'23 m-o-m ± % y-o-y ± % Vietnam 712.0 228.5 2,087.6 211.5 -65.9 China 565.9 3,877.5 7,380.3 -85.4 -92.3 Malaysia 248.4 0.0 0.0 NA NA Singapore 21.5 8,943.2 13,714.1 -99.8 -99.8 Total 1,568.6 15,857.9 24,519.6 -90.1 -93.6 Source: GTT Total includes all countries, not just those listed Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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