East Asia

RPT-LME is considering easing rules in order to promote Hong Kong as a metals hub

Four industry sources have said that the London Metal Exchange may ease rules to boost Hong Kong's status as a "metals location", including allowing aluminium storage outside. This is in line with China's "drive" for greater influence on global metals markets. Hong Kong was designated as an LME warehouse in July 2025. However, very little metal has actually been deposited since then. Two sources claimed that HKEx executives asked warehouse companies to remove any barriers in order to make Hong Kong a viable storage location. In a consultation paper published in March, the 149-year old LME suggested outside storage for
East Asia

SGE, a Polish developer of small nuclear plants, targets a fleet worth PS35 billion in Britain
LME looks at easing rules for Hong Kong to become a metals hub

Four industry sources have said that the London Metal Exchange is looking at easing its rules to promote Hong Kong as a "metals location". This is in response to China's desire for greater control over global metals markets. Hong Kong became an LME warehouse in July 2025. However, very little metal was deposited since then. Two sources claimed that HKEx executives asked warehouse companies to remove any barriers in order to make Hong Kong a viable storage location. In a consultation paper published in March, the 149-year old LME suggested outside storage for aluminum "on a site-by-site basis". Four sources
East Asia

Canary Wharf in London is boosted by Europe's largest office sale in four-years
Wayve, a new AI-driven driving system that can learn like humans, is attracting automakers.

Wayve, a startup in autonomous-driving technology, is riding the wave of investor interest. The London-based startup has?raised $2.8 billion in funding from a list of investors and strategic partnerships that includes major names from the automotive and technology sectors, including Nvidia, Mercedes-Benz and?Nissan. Wayve announced in June that it would deploy its robotaxis system from Jeep maker Stellantis to Uber's ride hailing network. Wayve uses an ?artificial-intelligence ?technology called end-to-end machine learning to navigate roadways, which is supposed to instantly translate sensor-generated data into driving decisions, much like a human driver. This is different from the more traditional approach that
LNG Transportation

ROI-Putin's diesel export ban risks new fuel shock: Bousso

The looming Russian ban on diesel exports could not have come at a worse time. After the largest energy shock in decades and a dangerously low global fuel inventory, another supply cut could threaten to undermine a fragile recovery. Russian President Vladimir Putin announced on Sunday that the Kremlin is considering a ban of diesel exports, after acknowledging the mounting shortages in Russia. These shortages were triggered by Ukrainian drone attacks on Russian refineries as part of Kyiv's expanding energy campaign against Moscow during the fifth year the Ukraine war. Fuel is the mainstay of global economy, powering everything from
Joachim Klement: The next Iran war could be closer than you think.

LNG Transportation

Bousso: The exodus of oil from the Hormuz region sets up a chaotic rebalancing.

The price of crude oil may have returned to levels seen prior to the Iran War, but the influx of oil from the Middle East after the reopening of?the Strait of Hormuz has created a market chaos that could last for months. Brent crude prices have plummeted to levels seen before the Iran war, around $73 per barrel, following the U.S. and Iran interim agreement. This might make it appear that business is back to normal in the world's largest oil and gas hub. The conflict had effectively paralysed the narrow waterway that once carried a 'fifth' of global oil...

LNG Transportation

ROI-Hormuz oil shock echoes 1973 embargo lessons: Bousso

The Strait of Hormuz is now open to oil and gas, but the 100-day closure of this vital waterway could be the turning point in the global energy market. Arab oil embargo 1973, which was a similar supply shock, provides clues as to where we may be heading. The latest Middle East Crisis tested the limits of the modern energy system. It has evolved in recent decades to a highly connected global market, held together by thousands trading houses, complex pricing systems, and thousands of tankers. The system was remarkably flexible during the U.S. and Israeli war against Iran that...

LNG Transportation

ROI-Hormuz oil shock echoes 1973 embargo lessons: Bousso

Oil and gas have now resumed flowing through the Strait of Hormuz. However, the closing of this vital waterway for more than 100 days may prove to be an important turning point on the global energy market. A similar supply shock in 1973, the Arab "oil embargo", offers clues as to where we may be heading. The latest Middle East Crisis tested the limits on the modern energy system. It has evolved over the past decades into an interconnected global market, held together by thousands trading houses, complex pricing systems, and thousands of tankers. The system was remarkably flexible during...

LNG Transportation

Additional oil tankers leaving Hormuz will add to global supply

Shipping data shows that three stranded oil tankers, each carrying 5 million barrels of crude oil, left the Strait of Hormuz Wednesday. Two of them were headed to Asia. The interim agreement between Iran and the U.S. has released more supply?stuck?in the Gulf, which is bringing down?global?prices. Data from LSEG & Kpler revealed that the VL Breeze (flagged South Korean) is a Very Large Carrier, carrying 2,000,000 barrels of Qatari Condensate & Abu Dhabi Crude. It has passed through the strait on its way to Daesan. The supertanker was chartered by South Korean refiner Hyundai Oilbank. The data revealed that...

LNG Transportation

Sources: China plans to build a second LNG terminal in China for Russian cargoes sanctioned by the United States

Three sources familiar with the situation said that China is building a second terminal to import liquefied natural gas from Russia's Arctic LNG 2 project. This will expand a route which has relied on only one facility so far. Sources say that the newly constructed Longkou LNG Terminal in eastern China's Shandong Province, operated by state pipeline company PipeChina, will be receiving Arctic LNG 2 cargoes. The move will provide a lifeline for the $21 billion project that is currently under sanctions. It will also help Moscow, as its gas exports have been affected by Europe's decision not to purchase...

LNG Transportation

Bousso: The quest of ROI-Gulf Exporters to bypass Hormuz is reshaping the region.

Middle East oil producers will have to face the consequences. The Iran War exposed the dangers of relying solely on one chokepoint to export vital oil and natural gas. Gulf governments were left with a clear strategy imperative: diversify at all costs. A blockade of Strait of Hormuz by Iran was long viewed as an "event of doomsday". It would never occur. Experts believed it would take a massive military effort, and Tehran would not be willing to choke off its own exports. These assumptions proved to be wildly wrong. Iran used cheap drones, small vessels, and mines to impose...

LNG Transportation

The Hormuz gas shock did not break Europe's market. Martin Vladimirov, Borbala Toth and the time might

The?market for natural gas in Europe has, at least thus far, passed the Hormuz test. The U.S. and Iran peace agreement suggests that the worst shock is over, even though flows may only recover gradually. This should calm supply concerns and focus attention on the pressures that will shape the market over the next few decades. As a result of the U.S.-Israeli conflict with Iran, the Strait of Hormuz was closed to nearly all trade in liquefied gas. This pushed gas prices in Asia and Europe sharply higher. Although the Strait of Hormuz is expected to be reopened under 'the...

LNG Transportation

The Hormuz gas shock did not break Europe's market. Martin Vladimirov, Borbala Toth and the time might

Bousso: Iran's fragile deal with oil offers relief, but there are still risks associated with the Hormuz pipeline.

Energy exporters and buyers will breathe a collective sigh of relief when the U.S. and Iran deal ends months of fighting. The fragile calm could not prevent future flare ups and cast doubt on how quickly or fully the tanker traffic in the crucial waterway will return to normal. Iran and the U.S. announced an agreement late Sunday night to lift the blockade on the Strait of Hormuz. This is where?a fifth of the world's oil and LNG passed before the?war broke out on 28 February. After both sides sign the agreement on Friday, it is expected that the Strait...

Bousso: Iran's fragile deal with oil offers relief, but there are still risks associated with the Hormuz pipeline.

Energy exporters and buyers will breathe a collective breath of relief when the U.S. and Iran deal ends months of fighting by reopening Strait of Hormuz. The fragile calm could not prevent future outbreaks and it is unclear how soon or fully tanker traffic in the crucial waterway will return to normal. Iran and the U.S. announced an agreement late Sunday night to lift the blockade on the Strait of Hormuz. This is where a fifth of the world's oil and LNG flowed through before the February 28th war. Both sides are expected to sign the agreement on Friday. This...

Bousso: Reopening of the ROI-Hormuz could be OPEC’s downfall

Saudi Arabia and its neighbouring Gulf producers are likely to cheer the eventual reopening of Strait of Hormuz. However, the ensuing influx of?oil could erode OPEC’s fragile grip on the markets. The Iran conflict and the closing of the crucial waterway, through which nearly one-fifth of the oil and gas in the world flowed prior to the conflict, have dramatically reduced the output of the Organization of the Petroleum Exporting Countries. This has shifted the centre of gravity of the industry away from the Middle East. Riyadh has limited options to counter?these changes. The re-opening of the strait is not...

Bousso: The board of ROI-BP snatches victory from the jaws.

BP's second leadership scandal in less than 3 years is the sudden removal of BP Chairman Albert Manifold, who was accused of?misconduct? less than 8 months after he assumed office. BP's board has become a liability because of these repeated leadership failures. Sources close to the 'board' claim that his departure was due to 'aggressive conduct towards BP employees, which became a public issue following a whistleblower report. Manifold was hired by the company to oversee its strategic transformation and restore investor confidence after a disastrous venture into renewables in 2020 under the former CEO Bernard Looney, and Manifold’s predecessor...

The deceptive calm of the oil market will not last.

Physical oil is at the center of the storm, a calm that deceives after the initial panic to deal with the largest oil crisis in human history. The Iran war blow has been softened by the dramatic drop in "China's" purchases and a rise in U.S. Exports. This delicate balance could not last long, as the peak season for demand is approaching. The crude oil market is surprising calm, despite the sudden loss of 20 million barrels of Middle Eastern oil per day, or about a fifth of global supplies, after Iran closed the Strait of Hormuz shortly after the...

Transport Infrastructure

Taiwan and Japan are affected by torrential rains caused by a passing storm

Tropical storms passing through Taiwan caused torrential?rains? that shut down southern Taiwan, forcing more than 5,000,000 people to miss work or school. Japan also issued flood and landslide alerts. The outer bands of Typhoon Mekkhala - now a tropical storm - are bringing heavy rains to some parts of Taiwan. This is especially true in Kaohsiung and Tainan in the south. On Friday, the governments of three Taiwanese regions with more than five million residents ordered all offices and schools to close. Flooding in Tainan caused a section of main north-south rail line to be closed. Japan also experienced heavy...

Transport Infrastructure

Southern Taiwan rail line and southern Taiwan shut down by torrential rain caused by a passing typhoon

A typhoon passing through southern Taiwan caused torrential rains, forcing more than 5 million people to miss work or school. Flooding also cut off a section of the main rail line. While Typhoon Mekkhala is currently over the Ryukyu islands in southern Japan, it did not directly landfall on Taiwan. However, its outer bands brought heavy rains to some parts of the island. All three governments, where more than 5 million people reside, have ordered that offices and schools be closed on Friday. The separate high-speed rail line did not report any problems, but a section of Tainan's main north-south...

Transport Infrastructure

No tsunami warning following M6.9 earthquake in Japan's northeast

The Japan Meteorological Agency announced on Thursday that no tsunami warning had been issued following an earthquake of magnitude?6.9 which struck the east coast of Japan's northeastern Tohoku area. The agency stated that the epicentre was located off the coast of Iwate Prefecture at a depth of 50km. No tsunami damage is expected except for "slight changes in sea level". It said that the earthquake in Aomori had an intensity of 6+, which is a situation where "it's impossible to stand or move without crawling" on a Japanese scale from 0-7. Tohoku Electric Power has said that no irregularities have...

Transport Infrastructure

Andy Home: The ROI-Congo pivots to the west under the cover of cobalt control

The ambitions of the Democratic Republic of Congo in cobalt are?becoming more and more clear. Export restrictions have been used by the world's biggest producer of strategic metals, which are used in everything from stealth bombers to mobile phones, to reduce excesses and raise prices. Kinshasa is trying to shift its focus away from Chinese operators and towards the United States, as it gains more control of its cobalt industry. This rebalancing is accompanied by a renewed effort to integrate the artisanal and smaller-scale mining sector (ASM), a minefield of ethical issues for Western cobalt purchasers, into official sectors. MOVING...

Transport Infrastructure

UN agency reports that ships have begun sailing through Hormuz as part of the UN evacuation scheme

A spokesperson announced on Wednesday that ships have started sailing through the 'Strait of Hormuz' under a new scheme by the U.N.'s shipping agency in order to evacuate vessels trapped there by the conflict. International Maritime Organization announced on Tuesday that the initiative, which took months to complete, would allow hundreds of ships and 11,000 seafarers stranded at the Gulf of Mexico to pass through Hormuz. A spokesperson for the IMO said that "ships have already started to pass under this plan", refusing to give any details about the vessels that have crossed. LSEG ship-tracking data showed that at least...

Transport Infrastructure

The Gulf markets are gaining ground as caution persists

The major Gulf stock exchanges rose in the early trading on Wednesday, amid signs of progress in U.S.Iran negotiations. However, there was still uncertainty about?the durability? of the agreement. The two countries that concluded the first round of negotiations on Monday in Switzerland gave contradictory accounts of some key elements of the Framework Agreement signed last week for the end of the war. These included financial incentives to Iran, control of the Strait of Hormuz, and Israel's war in Lebanon. Donald Trump, the U.S. president, said that Iran agreed to nuclear inspections in "infinity" on Tuesday. Tehran denied this concession...

Transport Infrastructure

Andy Home: The ROI-Congo pivots to the west under cover of cobalt control

Cobalt ambitions of the Democratic Republic of Congo are becoming more and more apparent. Export restrictions were used by the world's biggest producer of the strategic metal used in everything from stealth bombers to mobile phones, to "drain" the market and raise prices. Kinshasa, as it gains more control of its cobalt industry, is also trying to lessen its reliance on Chinese operators, and pivot toward the West, particularly the United States. The rebalancing is accompanied by new attempts to integrate the artisanal and small-scale mining (ASM), a minefield of ethical issues for Western cobalt purchasers, into official sector. MOVING...

Transport Infrastructure

US launches investigation into fatal Tesla crash in Texas home

The U.S. government said Monday that it is investigating the crash of a Tesla Model 3 on June 19, which was using a driver assistance system at the time. It struck a house in Katy, Texas and killed a woman aged 76. Since 2016, the National Highway Traffic Safety Administration (NHTSA) has opened more than 50 "special crash investigations" into Tesla incidents in which advanced driver assist systems like Autopilot are suspected of being used. About two dozen fatalities have been reported. Separately in March, NHTSA escalated its investigation into 3.2 Million Tesla vehicles equipped with "Full Self Driving" due...

Ground Freight

Exxaro, a South African company, is working on cheaper rail transport to move more manganese.

Exxaro Resources, a South African miner, said Monday that it wants to 'transport more manganese by rail instead of road in order to reduce costs and improve efficiency at its newly-acquired assets. Exxaro CEO Ben Magara stated that the company, along with its competitors, were working together with Transnet, a state-owned firm in freight transport, to increase freight capacity. Transnet is opening up parts of its network for private investment. Exxaro reported that hauling manganese via road costs?37% higher than rail. Exxaro said that logistics costs accounted for 43% for the free-onboard costs of?the bulk minerals. Johan Meyer, Exxaro's head...

Transportation

Bousso: The quest of ROI-Gulf Exporters to bypass Hormuz is reshaping the region.

Middle East oil producers will have to face the consequences. The Iran War exposed the dangers in relying solely on one chokepoint to export vital oil and gas. Gulf governments were left with a clear strategy imperative: diversify at all costs. A blockade by Iran of the Strait of Hormuz was long viewed as an "event of doomsday". It would never occur. Experts believed it would take a massive effort from the military and that Tehran wouldn't be willing to stop its exports. These assumptions were 'proven painfully incorrect. Iran used cheap drones and small vessels to impose a nearly...

Transport Infrastructure

Thailand revives $30 billion coast-to-coast highway to rival Malacca Strait

Chaiyaporn?Arunrasamee, hunched with his nets over the Andaman Sea, is a Thai government official proposing a "Land Bridge", which will ferry goods from ports on either side of the peninsula. Chaiyaporn stated that he did not want the project to be implemented. The Thai Prime Minister Anutin Charnvirakul revived the project after the war with Iran and the closing of the Hormuz Strait revealed the countries' dependence on strategic maritime chokepoints. Plans envisage a '1 trillion baht logistics corridor ($30.45billion) to provide an alternative route through the Strait of Malacca, which is currently clogged with traffic. The corridor will connect...

Transport Infrastructure

Taiwan claims its delegates were barred from Ocean Conference in Kenya

Taiwan's government claimed that Kenya had banned delegates from Taiwan from attending an international conference in East Africa on oceans. This was due to pressure from China. China considers?democratically-governed?Taiwan to be?its territory and objects to any treatment of Taiwan as a sovereign nation. Taiwan's government has rejected Beijing's claims of sovereignty. In a statement posted on X, Tuesday, the 'Ocean Affairs Council', a Taiwan government agency said that visas were revoked for Taiwanese researchers at the last moment. Participants had their passports seized and phones confiscated. Kenyan officials from the foreign ministry and event organizers have not responded to requests...

Passenger Marine Transportation

After an attack on a ship, traffic through the Strait of Hormuz is slowed

Ship tracking data revealed that fewer vessels traversed the Strait of Hormuz Friday than they did earlier in the week. This was hours after an Iranian-operated vessel fired on a Taiwanese ship. U.N.'shipping 'agency temporarily suspended its voluntary scheme for evacuating hundreds of stranded vessels and thousands of seafarers out of the Gulf, after the ship was damaged by the attack near the Omani side. Nevertheless, data from LSEG's and MarineTraffic's ship tracking showed that at least four oil tankers, including three very large crude carrier ships, each of which can carry a maximum 2 million barrels, had entered the...

Passenger Marine Transportation

Gulf oil tanker prices nearly double as Middle East producers increase exports

Shipping data and sources indicate that oil tanker operators have made record profits this week after almost doubling the cost of hiring vessels to travel through the Strait of Hormuz or the wider Gulf region. This is due to the increasing demand for the waterway as it slowly begins to pick up. The strait's traffic has been relatively low since Iran lifted the effective blockade after agreeing on a 60-day truce with the U.S. last week. Meanwhile, talks are continuing to reach a permanent agreement to end the war. The number of vessels passing through Hormuz has dropped to a...

Passenger Marine Transportation

Qatar brings LNG tankers into Hormuz despite shipping slowdown

Shipping data revealed that four liquefied?gas tanks controlled by Qatar headed into the Strait of Hormuz despite a drop in?ship traffic following Iran's announcement over the weekend that the waterway had been closed again. Shiptracking data by analytics firm Kpler revealed that the tankers - Wadi Al Sadd, Mekaines Al Sadd, and Mesaimeer – entered the strait via Iran for the first since the U.S./Israeli war against Iran began. QatarEnergy's LNG exports, which have been severely curtailed since the beginning of the war on February 28, didn't immediately respond to an inquiry for comment. LSEG data shows that the dry...

Passenger Transportation Services

More vessels transit Hormuz, Qatar-linked LNG tankers return, data show

Ship-tracking data shows that two stranded supertankers crossed the Strait of Hormuz Tuesday. Seven empty Qatari-linked liquefied gas tankers entered the Strait in recent weeks, a sign that Gulf gas shipping may be returning. Data showed that Iranian-linked tanks continued to pass through 'the 'vital waterway. Traffic increased on Monday, as U.S.Iran talks advanced. The flow of traffic had decreased ahead of the U.S.-Iran talks, amid Trump's threats to restart the conflict and Tehran's announcement that it had once again closed the Strait. A day after the first round of negotiations, which started on Sunday, both parties agreed on a...

There are some flights to the Middle East that have resumed but there is still disruption.

Some airlines have resumed flights to certain parts of the Middle East, as diplomatic efforts intensify to resolve the conflict that erupted after U.S. and Israeli strikes on Iran. However, many carriers continue to suspend flights, causing global travel disruptions. The following is a list of the current status of flights by alphabetical order. AEGEAN AIRLINES The largest Greek airline has cancelled flights between?Thessaloniki and Tel Aviv up until June 26. Flights to Dubai and Erbil are cancelled until September 30, and flights from?Baghdad and?Baghdad?until August 31. AIRBALTIC AirBaltic, a Latvian airline, has canceled flights to Tel Aviv and Dubai...

Singapore Airlines plans debut 5-year dim sum bond

Singapore Airlines announced on Monday that it plans to sell its first benchmark five-year dim sum bond, a offshore yuan debt issued outside of mainland China. Four banks have been hired to help arrange the deal. The benchmark size of offshore yuan bonds is usually 1 billion yuan (147.6 millions dollars), which means they are large enough to be traded easily by investors. Singapore Airlines hasn't revealed the size of its planned expansion. The airline?said that it tapped Bank of China, DBS HSBC Standard Chartered and Standard Chartered to help with the bond sale. ? The decisions were reported earlier...

Wall Street Journal, June 22,

These are the most popular?stories from the Wall Street Journal. ? This information has not been verified and we cannot vouch for their accuracy. China has added 10 defense contractors and two rare earth producers to its export control list. Pakistan and Qatar, who are acting as mediators in the talks between Iran and the U.S., have confirmed that the two countries had agreed to establish a'mechanism to ensure the termination of military operations?in Lebanon. Castlelake, a U.S. investment company, said that easyJet's board had rejected its third 4,74 billion pound ($6.26 billion),?takeover offer. The firm encouraged shareholders to seriously...

Fuel relief from the Iran deal may keep airline ticket prices high.

Oil prices are expected to fall after the interim U.S. Iran peace agreement, but it is unlikely that passengers will see any immediate relief. Carriers may be able to maintain fares above those of pre-war. The U.S. market is the most obvious example. Fuel costs have risen this year, but fare increases are still behind. Domestic seat growth is also limited. This gives airlines the opportunity to use lower fuel costs to rebuild margins, rather than reverse recent price hikes. U.S. Jet Fuel Spot Prices were $2.85 per gallon on 17th June, down from a high of $4.88 in early...

AirAsia X CEO: Prices for jet fuel have fallen since June 15, resulting in a reduction of fares.

Bo Lingam said that the CEO of Malaysian budget airline AirAsia?X, has announced a 5% reduction in fares since June 15. The airline will continue to monitor the situation on a weekly basis as jet fuel prices fall, he added. As the U.S. - Iran war wreaked havoc on travel around the world, the airline has used the last three months to reduce underperforming flights, shift the demand, and renegotiate all contracts with vendors and lessors. Lingam said to reporters that they were still renegotiating and restructuring all of their contracts. He added that "week by week we will be...

Passenger Ground & Sea Transportation

UN agency reports that ships are already sailing through Hormuz as part of the UN evacuation scheme

A spokesperson for the U.N. shipping agency said that ships have already passed through 'the Strait of Hormuz' under a newly-launched evacuation scheme. A spokesperson for the International Maritime Organization (IMO), a U.N. agency, said that "ships have already started to pass under the plan." He declined to give any 'details' on the ships that had passed. LSEG's ship tracking data revealed on Wednesday that two dry -bulk ships, and one cargo -ship, have sailed through Hormuz in the past 12 hours. According to LSEG & MarineTraffic'ship tracking data' based on an analysis of ship movement, at least 35 commercial...