Asia

European traders reported that the leading South Korean animal feed manufacturer Nonghyup Feed Inc., (NOFI), bought an estimated 130,000 metric tonnes of animal 'feed -corn? in a Tuesday international tender. The bid was for up to 207,000 tons. Two 65,000-ton corn consignments were purchased. They could have come from either the United States, South America or South Africa. They said that a third consignment, which was also requested in the tender and due to arrive on May 20, did not get purchased. The first consignment of corn was purchased at an estimated price of $241.50 per ton, including freight (c&f),...

DP World, a Dubai-based port and logistics company, said Tuesday that its operations 'at Berbera Port in Somalia’s breakaway region Somaliland are 'continuing as per existing agreements despite regional tensions following an escalation of violence in Yemen. Somalia's Government announced on Monday that it is cancelling all agreements, including those relating to port deals, defence and security, and cooperation with the UAE. It accused the Gulf nation of undermining national sovereignty. Mogadishu's move was a result of an investigation launched by Mogadishu last week, after tensions were high between Saudi Arabia and the UAE, two global oil giants. The UAE...

Data from LSEG and market sources showed that Russia's seaborne gasoil and diesel exports increased by almost 40% in December compared to November, reaching about 3,41 million metric tonnes. This was due to higher fuel production, and a'seasonal decline in domestic demand. Sources said that exports of ultra-low sulphur diesel via Primorsk - Russia's largest outlet for diesel shipments - grew 35% on a month-on-month basis to 1.7 millions tons as major suppliers increased output and supplies. Last month, diesel?and gasoline loadings at southern ports Tuapse?and Novorossiysk increased by?almost 60 percent compared to November. This was due to local refineries...

The Somalia government announced on Monday that it was 'annulling' all agreements with United Arab Emirates. This includes?port deals, defence and security collaboration, and'security and defence cooperation. It accused the UAE of undermining the national sovereignty. The Council of Ministers of Somalia said that the decision was based on "credible reports" and "convincing evidence" of hostile acts undermining the national sovereignty, territorial integrity, and political independence of Somalia. In a press release, it was stated that the decision "applies?to?all agreements and partnerships relating?to the ports of Berbera?and Bosaso?and Kismayo... and] bilateral security and defense cooperation agreements." The?UAE foreign ministry didn't...

Ukraine officials reported on Friday that Russia had attacked two civilian boats with drones, one of which was flying a foreign flag, in the southern Odesa area, killing a Syrian citizen and injuring a second. In the last two month, Moscow has intensified its attacks on Ukraine's sea export routes in retaliation to attacks on tankers of Russia's "shadow fleet", which were heading there to export oil. Oleksiy Kuleba, Deputy Prime Minister, said in a press release that a ship was sailing along Ukraine's export route to pick up grain cargoes at the port Chornomorsk. The ship was flying the...

Major Feedmill Group of South Korea (MFG) purchased approximately 204,000 metric tonnes?of animal feeding corn at an international?tender on Friday that sought up to 210,000 metric tons, European traders reported. The 'optional origins' were expected to come from three consignments totaling 68,000 tons, all of which arrived in April in?South Korea. The trading house CHS was said to have 'purchased two consignments. Both consignments were purchased for a combined price of $249.60 per ton, cost and freight included (c&f), plus $1.50 for port unloading and a premium of 189.00 U.S.cents a bushel over the Chicago corn contract for March 2026....

Turkish Airlines announced that it held a groundbreaking ceremony on Thursday at eight locations. The total investment value is more than 100 billion lira (2.32 billion dollars). It said that the projects included investments in Europe's biggest wide-body aircraft engine maintenance facility, world's biggest aircraft catering facility, second phase of SmartIST, which will be the 'largest cargo facility' in the world, additional aircraft maintenance hangars and an ecommerce complex. When all phases are completed, these investments will create over 36,000 jobs. Turkish Airlines Chairman Ahmet Bolat stated that while our company's contribution is currently $65 Billion, it will reach $144...

Officials from Ukraine said that Russia had attacked two'seaports' in the Odesa region of Ukraine on Wednesday. One person was killed and eight injured. In recent weeks, Russia has attacked Ukraine's port and foreign-flagged ships sailing from it. This is after Vladimir Putin promised to cut Ukraine from the sea as a retaliation for Kyiv's attacks on unregulated oil tanks sailing to Russia. The Ukrainian'seaport' administration stated that the ports attacked were Chornomorsk & Pivdennyi. Both are 'key export arteries' for Ukraine's commodities-heavy economy. Oleksiy Kulba, deputy prime minister of Ukraine, said: "This is another attack on port infrastructure by...

Saudi Arabia led Gulf stocks higher in the early trade of Wednesday after the kingdom announced that it would open its capital market to all categories foreign investors next month. Saudi Arabia's benchmark index of stocks rose by as much as 2,5% intraday, the biggest intraday gain it has seen in over three months. All constituents also advanced. Gains were led by the consumer discretionary, healthcare and finance sectors. Al Rajhi Bank, a heavyweight, climbed by 2.1% while Saudi Aramco, a major oil company, gained 1.1%. Saudi Tadawul Group, an exchange operator, jumped up to?7%. This is the sharpest increase...

Shipping data revealed that Venezuela only loaded crude?for U.S. Chevron on February 2, while the state-run PDVSA halted operations to?load?cargoes destined for its principal customers in China for a fifth consecutive day. U.S. Forces captured President Nicolas Maduro and brought him to New York for drug charges. Delcy Rodriguez, the interim president of the Venezuelan government is now in charge. The U.S. says it will supervise the administration. Last month, the United States placed a blockade against sanctioned oil tanks sailing into Venezuelan waters and out of them. This halted all exports except those that were destined for Chevron. Chevron,...

By Robert Harvey LONDON - On Monday, January 6, the Caspian Pipeline Consortium terminal, near the Russian Black Sea Port of Novorossiysk, resumed loading crude oil after several days?of weather-related interruptions that also delayed maintenance?work.?Two industry sources said on Tuesday. The poor weather conditions and Ukrainian attacks against infrastructure caused a drop in Kazakhstan's oil production and exports. About 80% of Kazakhstan’s crude oil exports are handled by the CPC Terminal. One of the sources claimed that crude oil loadings began again from the 'one single point docking' (SPM-1), in the afternoon of 5 January. CPC Terminal stopped oil exports...

Shipping data shows that Venezuela's main oil port on Tuesday became the fifth day without delivering crude to the state-run PDVSA customers in Asia – the OPEC country's major buyers – as the U.S. pressed the nation with an oil embargo. Chevron, the main joint venture partner of PDVSA, resumed Monday exports of Venezuelan crude oil to the U.S., after a four day pause. It also called its?workers overseas back to their Venezuela offices, as flights into?the country re-started. In recent weeks, the U.S. company has become 'the only firm fluidly exporting Venezuelan crude. In early January, a dozen vessels...

Six sources confirmed that two Greek-managed oil tanks were struck by drones near the Caspian Pipeline consortium terminal on Tuesday, which is responsible for?around 80%?of Kazakhstan's crude oil exports. LSEG data revealed that Delta Tankers in Greece manages one of the tankers. According to sources, this tanker was expected to be loaded with oil from Tengizchevroil. The sources said that the other ship, Matilda is managed by Greece's Thenamaris, and would be expected to load oil from Karachaganak. Thenamaris confirmed that Matilda was hit by two drones as she waited in "ballast conditions" 30 miles off CPC. According to a...

The Indian clean energy ministry granted renewable energy developers an extra month to complete?projects that were delayed by a Supreme Court ruling on?power lines near habitats of?the endangered Great Indian Bustard. According to an order from the ministry issued on Monday, delays in securing permissions for overhead transmission in bird habitat areas of Rajasthan and Gujarat would qualify as "force majeure", which will allow developers to request extensions to their scheduled commissioning dates. The Supreme Court's December 2025 verdict ended the long-running legal case and backed the proposal of an expert panel to protect the bird. The panel suggested tighter...

According to the Swedish Foreign Minister, sanctions should be introduced against Russian fertilisers, and companies should not provide any support for Moscow's oil-and-gas-shipping fleet. The bloc of 27 nations is currently preparing their 20th package of sanctions to punish Russia for its conflict in Ukraine. Prior sanctions focused on crippling the oil and gas sector, which is the Kremlin’s main source of revenue. At a yearly security conference held in Salen in western Sweden, Foreign Minister Maria Malmer Stenergard stated that "the pressure on Russia?has to increase". Stenergard stated that the EU's "next package of sanctions" should include a ban...

Kyiv’s heating and water systems were restored after they had been briefly turned off on Saturday due to a particularly cold day. Engineers scrambled for stabilisation of a power grid that was pushed to its limits by a series of Russian airstrikes, including the one from two nights ago. Since the Russian invasion of Ukraine in 2022, Russia has been bombarding Ukraine's power system with intense force. This has caused blackouts that last for several hours each day in many major cities. The heat and water infrastructure has also been severely affected over the past few weeks. This is a...

On 'Thursday, Ukrainian officials raced to restore power after Russian strikes plunged the two regions in the south-east into a?near total blackout overnight. Critical infrastructure was forced to rely on reserves. Moscow has intensified attacks on Ukraine's power system, as Ukrainian forces fight off Russian advances in the battlefield and Kyiv is under U.S. pressure for a peace agreement. The Deputy Premier of Ukraine,?Oleksiy?Kuleba, said that repairs are still being carried out to restore heat and water supply to over 1 million customers in the industrialised area of Dnipropetrovsk. Energy ministry reported that nearly 800,000 customers in the affected region...

Ukraine's largest?private energy company said on Sunday that it had restored power to more than one million households around Kyiv, a day after an air strike by Russia had caused emergency outages. Two people were killed and power was knocked out in large areas of the capital area and surrounding region by a combined?missile-and drone attack? that occurred early Saturday morning. DTEK announced in a statement that it restored electricity to 748, 000?households?in Kyiv as well as 347,000?outside the city. The report said that the situation on Kyiv’s left bank was "more difficult", as emergency power outages were still in...

State media reported that Iran had seized an oil tanker from a foreign country near the Iranian island of 'Qeshm, in the Gulf. The tanker was said to be carrying 4,000,000 litres of fuel smuggled, the report stated. The authorities did not name the vessel nor disclose its nationality. The authorities alleged that 16 foreign crew were?detained for criminal charges. State TV reported that the tanker had been seized on Wednesday. Iranian news sites published photos and video footage of the tanker they claimed to have seized. Iran announced last week that it had seized a foreign tanker carrying smuggled...

State media reported that Iran had seized an oil tanker from a foreign country near the Iranian island of Qeshm, in 'the Gulf. It said it was carrying smuggled fuel of 4 million litres. The authorities did not disclose the name of the vessel, its nationality or when it was seized. The authorities said that 16 foreign crew members had been arrested on criminal charges. Iranian news sites?published video and photos?of the tanker they claimed to have seized. Last week, Iran announced that it had intercepted another foreign tanker in the Gulf of Oman carrying 6,000,000 litres of diesel it...

Alexei Miller said that Gazprom, the Russian gas corporation, supplied 38.8 billion cubic meters of gas to China through the Power 'of Siberia' pipeline this year. This is an increase of nearly a fifth compared to the previous year. Miller stated that by the end of 2025, the company will have exceeded its contractual obligations to China in terms of gas supply. Sources familiar with data said on Monday that Russia’s pipeline exports to China of?natural?gas were expected to hit around 38.6-38.7 bcm this year. This is up from 31 bcm by 2024 and exceed the pipeline's annual capacity of...

The Russian government has delayed by "several" years its plan to achieve a 100 million-ton annual target for liquefied gas production, Alexander Novak, deputy prime minister, told state television on Thursday. He cited the impact of Western sanctions on Russia's energy industry. Sanctions imposed by the United States over the conflict with Ukraine have impacted Russia's plans to increase its share of the global LNG industry from 8% today to a fifth by 2030-2035. This includes the new Arctic LNG 2 facility. According to a recently updated government strategy, Russia will produce 90-105 millions tons of LNG in 2030 and...

Vingroup, Vietnam's largest conglomerate said it would withdraw its proposal to invest $67 billion in the North-South high speed railway project of Vietnam, and instead focus on other projects. Vingroup said that the decision to register, which was "submitted" in May, was made after a reassessment was done of the company's resources following the awarding of major national projects including a stadium with Olympic standards and rail lines linking key locations. Vingroup shares and those of its units (including?developers Vinhomes, Vincom Retail and Vinpearl) fell by 7%, while hospitality company Vinpearl dropped 3%. This announcement dragged the benchmark index to...

According to Serbia's RTS TV, the U.S. granted Serbian oil refiner NIS until March 24th to 'negotiate' the sale of their 'Russian owner's' stake. RTS stated that NIS did not have an operating license which would allow it to purchase and process crude oil. After a series waivers granted since January, the Office of Foreign Assets Control of the U.S. Treasury Department imposed sanctions against NIS as part of broader measures taken against?Russian energy sector. The sanctions have stopped crude oil supplies through Croatia's JANAF pipe, which has shut down production at?Pancevo. Gazprom, the sanctioned oil unit of Russia's Gazprom,...