East Asia

After cable television damage, Taiwan to step up monitoring of flag of benefit ships

Taiwan will step up the security and management of ships carrying flags of convenience, consisting of boarding them, after a Chineselinked freight vessel was thought of damaging an undersea interactions cable, the government said. Taiwan, which China views as its own territory, said a ship owned by a Hong Kong business but registered both in Cameroon and Tanzania, harmed a cable to the north of the island previously this month, although it says it has not had the ability to confirm the ship's objectives and was unable to board it due to bad weather. The ship's owner has rejected involvement,
Transport Infrastructure

Tanker rates extend rally on sanctions, demand to load Mideast oil
LME on last lap to authorize Hong Kong as location for metal storage

The London Metal Exchange ( LME) is concluding its process for authorizing Hong Kong as a. place for its global metals warehousing network, which the. exchange thinks about to be a gateway to mainland China. Approving warehouses in China, the world's biggest customer. of commercial metals, to store metal traded on the LME has been. a tactical goal because Hong Kong Exchanges and Clearing (HKEx). bought the LME in 2012 for $2.2 billion. However the LME. has failed to get regulatory permission. Growth might suggest an increase to LME trading volumes if. effective, but market sources stated global warehouse. companies
Passenger Transportation Services

China's Lunar New Year travel rush: World's biggest yearly migration
Indian cars and truck makers' yearly sales development screeches to a four-year low

India's cars and truck sales by makers to dealers grew 4.2% in 2024, their slowest speed in four years, market information showed on Tuesday, as need for brand-new cars and trucks cooled off amidst high inflation. Sales of passenger lorries, that include little cars, sedans and sport energy vehicles (SUV), increased to a record 4.27 million systems from January to December last year, compared to 4.11 million units in 2023, according to the Society of Indian Car Manufacturers, a market body. Nevertheless, sales of small cars dipped 14.4% as their rates exceeded the earnings levels of their target customers, automobile
Asia

Oil shipping rates surge after US sanctions tighten up global fleet

Supertanker freight rates leapt after the U.S. broadened sanctions on Russia's oil industry, sending traders hurrying to book vessels to deliver supply from other countries to China and India, shipbrokers and traders said. Chinese and Indian refiners are looking for option fuel supplies as they adjust to extreme brand-new U.S. sanctions on Russian producers and tankers created to suppress the world No. 2 oil exporter's revenue. A number of the recently targeted vessels, part of a shadow. fleet, have been utilized to ship oil to India and China, which. snapped up cheap Russian supply that was banned in Europe. following
Oil shipping rates surge after US sanctions tighten global fleet

Ground Freight

Brazil freight lobby sees grain shipping disturbances in wake of brand-new toll guideline for trucks

A freight lobby has actually warned of the risk of logistical collapse after Brazilian transportation firm ANTT altered payment system guidelines for trucks moving countless lots of agricultural commodities and other freight, according to a declaration on Thursday. Intro of electronic tags as the only accepted ways of payment comes as Brazil starts gathering a huge soybean crop of nearly 170 million heaps, stated Carley Welter, executive director at ANATC, a national association of freight companies. ANATC, whose members have actually 2.2 million signed up truck drivers, said firms supplying the tags have been not able to meet high demand....

Transport Infrastructure

Hong Kong airport raises $4.15 bln in 3 tranche dollar bond deal, term sheet programs

Airport Authority Hong Kong has raised $4.15 billion in a three tranche dollar bond deal, according to a term sheet evaluated on Thursday. The operator of Hong Kong's airport raised $1.3 billion in a. 3.5-year bond, $1.85 billion in a 5.5-year deal and $1 billion. in a 10-year tranche, the term sheet said. Airport Authority Hong Kong did not right away react. to an emailed ask for remark from Reuters. Financiers lodged $3.4 billion worth of a bids for the. quickest dated bond, $5.8 billion for the 5.5-year offer and $8.5. billion for the 10-year bond, a book runners messaged...

Transport Infrastructure

Union and employers reach agreement to avoid a second US port strike

The union that represents 45,000 dockworkers on the U.S. East Coast and Gulf Coasts, and their employers announced on Wednesday they had reached a tentative agreement on a six-year contract. This prevented further strikes which could have disrupted supply chains and taken its toll on U.S. economic growth. In a joint press release, the International Longshoremen's Association and the United States Maritime Alliance employer group called the agreement a win-win. The agreement includes a resolution on automation, the most difficult issue to resolve. The groups stated that "this agreement protects existing ILA jobs, establishes a frame work for implementing new...

Transport Infrastructure

China's foreign ministry is unaware of the ban on US sanctioned ships by Shandong Port Group

China's Foreign Ministry said that it did not know about the decision by Shandong Port Group to ban U.S. sanctioned vessels in its east coast harbours. The group supervises several major terminals located in Shandong province, the main entry port for oil imported from Iran, Russia and Venezuela. These embargoed oil flows accounted for almost a fifth (or 5%) of all imports last year. If the ban was enforced, traders claim it would increase shipping costs for independent refining companies in Shandong. These are the main purchasers of discounted sanctioned oil from the three countries. It could also cause a...

Transport Infrastructure

China Advancement Bank releases $255 mln for Nigeria rail job

China Development Bank has released a $254.76 million loan to Nigeria for a railway task linking the 2 northern states of Kano and Kaduna, the bank stated, ahead of a check out to the West African country by China's. leading diplomat this week. As part of his yearly New Year tour of Africa, China's. Foreign Minister Wang Yi will arrive in Nigeria on Wednesday. and fulfill President Bola Tinubu and senior federal government officials. on Thursday, Nigeria's foreign affairs ministry said. Construction of the Kaduna-to-Kano rail task, which is. anticipated to cost $973 million, has been slowed by financing. delays....

Transport Infrastructure

Exclusive: China's Shandong Port bans US-designated vessels

Three traders reported that Shandong Port Group had banned U.S. sanctioned tankers calling at its ports. The province in eastern China is home to independent refiners who are the largest importers of oil coming from countries under U.S. sanctions. Ship tracking data from Kpler revealed that the province imported 1.74 million barrels of oil per day (bpd), or 17% of China’s total imports, from Iran, Russia, and Venezuela in 2017. The traders said that if the ban is enforced, it will increase shipping costs for independent refining companies in Shandong who are the main purchasers of discounted sanctioned oil from...

Transport Infrastructure

Traders claim that China's Shandong Port Group has blacklisted oil vessels sanctioned by the United States.

Three traders claim that China's Shandong Port Group sent a notice to its ports on Monday prohibiting U.S.-sanctioned oil ships from using their network. This could restrict the access of blacklisted vessels to major energy terminals along China's East Coast. Two traders shared the notice and a third confirmed it. It prohibits ports from docking, unloading or providing ship services to vessels listed on the Office of Foreign Assets Control (OFAC) list, which is managed by the U.S. Department of Treasury. Shandong Port Group is responsible for major ports along China's East Coast, including Qingdao and Rizhao. These are the...

Transport Infrastructure

Traders claim that China's Shandong Port Group has blacklisted oil vessels sanctioned by the United States.

Financial Times - Jan. 7

The following are the top stories in the Financial Times. Reuters has not verified these stories and does not attest their precision. Headlines - Bet365 manager Denise Coates' pay nearly halved to 150 mln stg in 2015 - Shawbrook owners target 2 bln stg assessment as they weigh sale or IPO - UK high-speed rail line informed to cut charges - Nippon Steel and United States Steel sue after Joe Biden obstructs $15. bln offer Introduction - British betting company Bet365's employer Denise Coates saw her. annual payout from the household's gaming empire almost cut in half to. 150 million...

Hong Kong airport operator prepares HK dollar and yuan bond offer, sources state

Airport Authority Hong Kong is aiming to raise approximately HK$ 22 billion ($ 2.8 billion) in Hong Kong dollar bonds and approximately 4 billion yuan ($ 546.3 million) in Chinese yuan bonds, according to 2 sources with direct understanding of the matter. The operator of Hong Kong airport is planning the offer including 3-, 5-, 10- and 30-year Hong Kong dollar bonds and 10- and 30-year Chinese yuan bonds, according to a term sheet evaluated on Tuesday. The size of the Hong Kong dollar tranche is expected to be HK$ 15 to HK$ 22 billion and the Chinese yuan tranche...

China looks for to boost ports and air travel hubs in western regions

China stated on Sunday it would launch 15 measures to strengthen the development of its western provinces with the construction of logistical infrastructure such as ports and aviation centers. The General Administration of Customs stated the measures would enhance the integration of rail, air, river and sea links in China's west, state media reported. The steps are to include enhancing worldwide aviation hubs in cities consisting of Chengdu, Chongqing, Kunming, Xi'an and Urumqi, while establishing extensive bonded zones, and integrating these with ports and other transportation links. A number of ports would also be built and broadened. China has actually...

China urges safety evaluations after lethal year in commercial aviation

Chinese authorities have required evaluations of industry dangers to discover any hidden operational dangers from flight paths to runways, following the most dangerous year in worldwide business aviation given that 2018. In 2015, 318 people passed away in industrial flight occurrences around the globe, according to information tracked by the U.S.-headquartered Flight Safety Foundation's Air travel Security Network. The last time fatalities went beyond 300 remained in 2018. On Friday, the Civil Air Travel Administration of China (CAAC). said it had actually been alerting Chinese airline companies to prospective security. dangers and changing flight routes. The Civil Air Travel Administration...

Problem in China's shopping paradise as Hainan duty-free spending falls 29%.

Dutyfree costs in China's. island province of Hainan, where worldwide luxury players from LVMH. to Kering have actually started a business, slumped 29.3%. last year as a weak economy saw a sharp drop in domestic. visitors. Consumers going to Hainan, known for its glitzy seafront. hotels and sandy beaches, spent 30.94 billion yuan ($ 4.24. billion) on duty-free products in 2024, regional custom-mades information revealed. on Thursday, falling 29.3% from a year earlier. The variety of consumers checking out Hainan fell 15.9% to 5.683. million, the data revealed, from 6.756 million in 2023. While the retail invest in Hainan is...

Passenger Transportation Services

MORNING quote AMERICAS-Bonds simmer as payrolls use reality check

A look at the day ahead in U.S. and global markets from Mike Dolan After a torrid start to the year for U.S. Treasuries and worldwide sovereign bonds at big, Friday tests the 'hot economy' thesis by revealing simply how tight U.S. labor markets still are as a. new administration takes office in Washington this month. The release on Friday of the U.S. December work report. ties up a range of tasks market updates this week - with. something of a combined image so far. The weekly jobless series released on Wednesday was a. standout, as it indicated the most...