Topic
tender
Commodities ADNOC sells 12 million barrels of crude at premiums to Asian refiners in seventh tender amid Iran tensions
ADNOC sold at least 12 million barrels of spot crude to Asian refiners at premiums in its seventh tender since June, as renewed U.S.-Iran hostilities disrupted Strait of Hormuz flows. Chinese majors Unipec, PetroChina, and Sinochem bought Upper Zakum at $3-$4/bbl premiums, while Indian Oil Corp and Idemitsu Kosan secured cargoes at smaller premiums. Total sales via the seven tenders exceed 86 million barrels.
Logistics Diana Drops Hostile Tender for Genco as Takeover Talks Stall, Keeps Higher Bid on Table
Diana Shipping has allowed its hostile tender offer for Genco Shipping & Trading to expire after insufficient shares were tendered, but the company is keeping its separate $27.34-per-share takeover proposal on the table. The tender, which offered $24.80 per share, saw 31.6% of Genco's outside stock tendered. Diana now seeks direct negotiations, while Genco disputes valuation claims and questions the stock component of the proposal.
Commodities Crown Estate Launches Accelerated Tender for 1.5GW Morgan Offshore Wind Site in Irish Sea
The Crown Estate has launched an accelerated tender for the 1.5GW Morgan offshore wind site in the Irish Sea, following the withdrawal of EnBW and JERA Nex BP. Bidders will compete via a rising-clock auction for a site exclusivity fee, with potential developer selection by end of 2026. The project already has a development consent order from August 2025.
Supply Chain Six-Year Tender Lead Time Climb Signals Structural Shift in Supply Chain Planning
The SONAR Tender Lead Time index has drifted higher for six straight years, reaching 3.74 days. The trend reflects improved planning, trade policy volatility, and increased inventory buffers, with implications for carrier operations and intermodal usage.
Logistics Diana Shipping Extends Hostile Tender for Genco, Intensifying Dry Bulk Consolidation Battle
Diana Shipping has extended its hostile tender offer for Genco Shipping & Trading to July 18, maintaining pressure in one of dry bulk's most closely watched takeover battles. The offer, valued at $27.34 per share, is backed by a $1.433bn financing package, with Star Bulk Carriers poised to acquire 16 Genco vessels for $470.5m if the deal proceeds. As of June 26, about 10.5m Genco shares (28.4% of outstanding) had been tendered.
Commodities India Likely to Boost Urea Imports Beyond 17 LT as Tender Prices Plunge Over 50%
India's National Fertilizer Ltd (NFL) tender received bids over 50% lower than the previous Indian Potash Ltd round, with lowest prices at $449/tonne west coast and $445/tonne east coast. The government is considering boosting imports beyond 17 lakh tonnes if suppliers match L1 rates, while China may reconsider exports due to low prices.
Trade Bangladesh Wheat Tender Norms Challenge Indian Exporters
Bangladesh's recent wheat tender imposes specifications that may exclude Indian exporters due to competitive pricing and stringent quality requirements. Indian wheat's test weight and cost structure are key barriers.
Trade India Seeks 1.7 Million Tons of Urea Amid Supply Disruptions
India has issued a tender to import 1.7 million tons of urea due to disrupted gas supplies from the Middle East. The tender, managed by National Fertilizers Ltd., aims to secure fertilizer ahead of the monsoon sowing season.