Key facts
- QatarEnergy Marketing set its August Qatar Sulphur Price (QSP) at $890/t fob Ras Laffan/Mesaieed.
- The August price is unchanged from July.
- Freight rates for 30,000-35,000t shipments to Chinese ports are $140-155/t.
- This implies a delivered cost of $1,030-1,045/t cfr for August.
- Vessel traffic through the Strait of Hormuz has been limited since mid-July.
State-owned QatarEnergy Marketing has maintained its August Qatar Sulphur Price (QSP) at $890 per tonne fob Ras Laffan/Mesaieed, keeping it unchanged from July. However, freight rates for shipments to Chinese ports are currently ranging between $140 and $155 per tonne for a 30,000-35,000 tonne cargo. This indicates a higher delivered cost of $1,030-1,045 per tonne cfr for August compared to July, with additional insurance premiums further increasing prices on a delivered basis. Vessel traffic through the Strait of Hormuz has been muted since the conflict resumed, with virtually no sulphur cargoes confirmed exiting since July 18.