Key facts
- Adnoc maintained its August sulphur official selling price (OSP) at $1,000/t fob Ruwais.
- Adnoc's August sulphur price is stable compared to the July OSP.
- Kuwait's KPC lowered its August sulphur price by $85/t to $865/t fob Kuwait.
- Freight costs for sulphur shipments have increased, influenced by geopolitical events.
Abu Dhabi's state-owned Adnoc has maintained its August sulphur official selling price (OSP) at $1,000 per tonne fob Ruwais, unchanged from July. Meanwhile, Kuwait's state-owned producer KPC has lowered its August Kuwait Sulphur Price (KSP) by $85/t to $865/t fob Kuwait, down from $950/t in July.
Freight rates as of July 30 were $140-145/t for a 30,000-35,000t shipment to Chinese ports, implying a delivered cost of $1,005-1,010/t cfr. However, additional insurance premiums for vessels entering the Strait of Hormuz are raising delivered prices further, with total additional costs estimated at $200/t for some shipments, potentially pushing the delivered cost as high as $1,065-1,070/t cfr China.
Shipping costs have seen an increase, influenced by geopolitical events.