MID-SHIP Petcoke Report – May 21, 2025

May 21, 2025

Market overview:  

Despite being finalized in April, the U.S. Trade Representative’s (USTR) new port fees targeting Chinese-built vessels continue to face strong backlash from the shipping industry, even during unrelated hearings on proposed crane tariffs. Industry groups like the World Shipping Council and the Chamber of Shipping of America argue the fees will raise costs for U.S. exporters and consumers, disrupt supply chains, and fail to influence China’s maritime policies. Many stakeholders also expressed confusion over the fee structure and implementation timeline, urging USTR to delay enforcement and seek broader industry input – our team will keep you posted on future developments.

This week, Brent crude oil prices showed a modest uptick, with the current spot price at $65.02 per barrel, reflecting a 0.69% increase from last week’s level of $64.94. Despite this slight weekly gain, the market remains under pressure from broader macroeconomic concerns and ongoing volatility in global demand forecasts. Compared to earlier in May, prices have been fluctuating within a narrow band, suggesting cautious sentiment among traders amid geopolitical and supply-side uncertainties. The downward trend reflects broader market volatility, with prices having fallen over 22% year-on-year, underscoring persistent pressure on the oil market despite recent short-term gains.

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