Commodities Focus

Operators of pipelines and liquefaction terminals that were able to deliver supplies during the February freeze in Texas were rewarded with strong first-quarter profits, while those that had difficulty were saddled with higher costs and lower revenue. S&P Global Platts senior natural gas writer Harry Weber and S&P Global Market Intelligence senior midstream finance reporter Allison Good analyze the just-completed release of Q1 earnings results by companies in the midstream and LNG sectors.

The US has the world's largest nuclear generation footprint and has witnessed early retirement of nuclear plants, due in part to low natural gas prices as well as declining costs of wind and solar technologies, as well as policy factors. Today's podcast looks at the major cost concerns of nuclear generation today, how some US states are utilizing Zero Emission Credits, and how these issues are impacting decisions to extend operating licenses.

Petcoke prices out of the US Gulf have doubled since this time last year. Prices continue to rise amid tight supply, and volatile freight markets within the region add fuel to the flames. S&P Global Platts coal and shipping editors discuss the impetus behind this price rally, in what has been one of the most notable commodity bull-runs of 2020/2021.

Are recent shifts in Atlantic Basin products arbitrages an unusual pandemic feature or the new normal for clean tanker trade? And are the 38kt US Gulf Coast-to-Brazil and 37,000 mt UK Continent-West Africa freight runs the new pacesetters of the Americas and European freight markets? S&P Global Platts Americas managing editor Barbara Troner examines the southward shift in Atlantic Basin clean tanker trade flows to Latin America- and West Africa-bound voyages with Platts experts Marieke Alsguth in Houston and Chris To in London. For free access to information on the dynamics and assessment methodology of the MR USGC-Brazil, please click here or send us an email at tankers@spglobal.com.

Is the recent six-day Suez Canal blockage causing a spike in container box freight? And are the canal's misfortunes the only culprit for impending port delays, or the tip of the iceberg? It may be all too easy to blame the Ever Given incident for the latest logistical issues, rate hikes and arbitrage impacts on agricultural, metals and petrochemical commodity markets. S&P Global Platts Americas shipping managing editor Barbara Troner examines the container market with Platts experts Greg Holt in Houston and George Griffiths in London.

S&P Global Platts senior natural gas writer Harry Weber and S&P Global Market Intelligence midstream finance reporter Allison Good preview with senior digital editor Jason Lindquist the upcoming release of first-quarter earnings results by companies in the North American midstream sector. While weather negatively affected operations in the most recent quarter and seasonal maintenance is expected to be a factor heading into the summer, fundamentals are relatively strong. With vaccines rolling out, the economic recovery driving midstream volumes should continue.

The Mexican government has recently issued a spate of regulations in the midstream and power sectors that have had broad implications. We spoke with Diego Campa of Campa and Mendoza Associates, a law firm in Mexico City, about the most relevant moves, how companies are able to use the courts to halt regulations, and how the recent regulations might fare in the legal system.

Container shortages and high freight rates have proven to be a major hurdle for international trade in the last six months. Nowhere has this been more so than for various agricultural products. S&P Global Platts shipping and agricultural editors come together to discuss the fallout from global container freight shortages and how they have affected the rice, sugar and used cooking oil markets.

The oil market is starting to face a new set of questions as it emerges from the pandemic and as energy transition momentum builds. S&P Global Platts Associate Director Paul Hickin spoke with the International Energy Agency's Head of Oil Markets Division Toril Bosoni about the outlook for oil demand, the role of OPEC+, US shale and China in the new reality and the challenges for energy security.

Canada enters the natural gas injection season with below-average storage levels as demand from resurging activity in the oil sands as well as coal-to-gas switching and higher exports look to boost AECO prices in relation to major market centers in the US Upper Midwest. The NGTL pipeline and storage system also looks to play a role in the market this year. S&P Global Platts natural gas editor Brandon Evans and analyst Richard Frey look at the issues driving the market.