South-East Asia

The Malaysian shipper announced on Wednesday that it and its Japanese partner had secured a 10-year charter agreement with Norway's Northern Lights joint venture to operate a new liquefied carbon dioxide carrier. The carrier will run on both LNG and conventional marine diesel. MISC announced this in a press release. The company said that it will transport liquefied carbon dioxide from industrial capture sites to permanent offshore storage in Norway. MISC announced that a second time-charter for a new-build CO2 liquefied carrier will be awarded by April. The new 'carriers' are expected to arrive between the second and first halves...

Hong Kong-based CK Hutchison announced on Wednesday that its Panama Ports Company division has initiated international arbitration proceedings against Panama, after a Panamanian court annulled the company's licences to run two?Panama Canal port. Panama's Supreme Court canceled last week CK Hutchison’s contract to run two Panama Canal Ports at the core of a $23 billion deal?to sale the Hong Kong conglomerate’s global port assets. Court said that the contract of Panama Ports Company, a subsidiary of CK Hutchison, violated 'Panama’s 'constitution because it gave the company exclusive tax exemptions and privileges. Analysts said that it is difficult to predict how...

China warned Panama that it would pay "heavy" prices if a court decision in Panama annulled the contract of Hong Kong's CK Hutchison to operate?two port at the Panama Canal. China's Hong Kong & Macau?Affairs Office branded the ruling of Panama's Supreme Court as "absurd", "shameful, and pathetic" and vowed that it would defend the interests Chinese firms. The Panamanian authorities didn't immediately respond to our request for comment. The court's ruling last week invalidated a contract held by Panama Ports Company (a CK Hutchison subordinate) since the 1990s to operate container terminals on the Pacific and Atlantic entrances of...

The Panama Supreme Court annulled CK Hutchison’s contract last week to operate two Panama Canal Ports. This was part of a deal worth $23 billion to sell all the global port assets owned by the Hong Kong-based conglomerate. Court said that the contract of Panama?Ports Company, a subsidiary of CK Hutchison, violated Panama’s constitution because it gave the company exclusive tax benefits and privileges. What We Know: CK 'Hutchison is controlled by Hong Kong’s richest man Li Ka -shing. In March last year, a deal was announced that covered 43 ports in '23 countries', 'including two near the Panama Canal',...

Trafigura has won its London case against Indian businessman Prateek?Gupta regarding fake nickel cargoes on Friday. The High Court of London ruled in favor of the commodities 'trader. Trafigura, a Geneva-based company, claimed that Gupta and his companies were the masterminds of a fraudulent Ponzi scheme??in which they agreed to deliver high-quality nickel 99.8% but instead delivered low-value materials or even worthless ones. Gupta acknowledged he didn't deliver high-grade Nickel cargoes, but claims Trafigura staff designed the scheme. Former Trafigura head nickel trader Sokratis Oikonomou had denied this in his testimony given in November. Judge Pushpinder Saini ruled Trafigura had...

After an accident halted construction on a China backed high-speed railway project, Thai'state railways' is consulting with the country’s top lawyer about terminating contracts. After two separate accidents in which 32 people were killed at two ITD sites in consecutive days of January, the public has become more angry. The government and police are now stepping up their scrutiny on a company whose shares fell 53% during the last year. The board of the railway, which oversees a 609 km (378 mile) high-speed rail linking Thailand with China via Laos, met Thursday to discuss its future contracts with ITD. Anan...

An official revealed that Thai state railways has consulted?the top legal officer of the country about terminating contracts for Italian-Thai Development PCL after an accident marred its construction work on China-backed high speed rail project. After two separate accidents in which 32 people were killed at two ITD sites in consecutive days of January, the public has become more angry. The government and police are increasing their scrutiny on a company whose shares fell 53% during the last year. The board of the railway, which oversees a 609 km (378 mile) high-speed rail linking Thailand with China via Laos, held...

Big Tech earnings this week have been a clear message: Investors are willing to overlook spending on artificial Intelligence if it drives strong growth but will punish companies who fall short. The stark contrast in the market's?reaction? to Microsoft and Meta's earnings on Thursday was a reminder of how much has changed since ChatGPT launched the AI boom over three years ago. Microsoft lost 10% of its market value, losing more than $350 Billion, after its cloud business did not impress. Meta, however, gained 10%. Microsoft's $3.2 trillion market value still surpasses Meta's $1.86 billion, but Meta shares have risen...

After India confirmed two cases of the deadly Nipah virus, authorities in Pakistan increased screening for people entering the country. Thailand, Singapore Hong Kong, Malaysia Indonesia and Vietnam also have tightened airport screening. Nipah can cause brain inflammation, fever and death. A vaccine is not available. Transmission from one person to another is difficult and requires prolonged contact. In a recent statement, the Border Health Services Department said that it was "imperative" to increase preventative and monitoring measures along Pakistan's border. The Department added that "all travelers must undergo thermal screening and a clinical assessment at the Point of Entry"...

Investors responded this week to Big Tech's earnings with a harsh warning: They will forgive companies that spend record amounts if they bring solid growth but punish them if they don't. This shows how the stakes have changed in three years since ChatGPT was launched. Meta Platforms, which owns Facebook, saw its revenue surge by 24% during the quarter ending December. This was due to online advertising targeting that was boosted?by artificial Intelligence. AI was also responsible for a first quarter revenue forecast that surpassed estimates. Meta's increasing sales were able to?fund? data-center spending expected to rise by as much...

Meta Platforms, the parent company of Facebook, will pay Gorilla Glass manufacturer Corning up to $6 billion in the coming years as part of a deal for fiber-optic cable supply for its AI data centres. Meta will be the main customer of Corning's advanced optical fiber, cables and connectivity products. Corning is also expanding its manufacturing capabilities in North Carolina including its cable factory in Hickory. Corning's optical connector products are among the key components needed to support massive computing and data transmission needs at?data centres. Corning shares will surge by 84% in 2025 due to the demand for their...

Malaysia's sovereign fund Khazanah Nasional Bhd plans to channel additional capital into strengthening the?power?system and supporting local semiconductor companies as AI drives next investment cycle. Khazanah's Managing Director Amirul Feisal Wan Zahir stated in an interview during the World Economic Forum annual meeting in Davos that energy supply and grid reliability were central to competitiveness. "What is needed for it to work well, is computing power. And what does computing power mean? Energy. Amirul Feisal said at the Global Markets Forum that this is when we should think about how to capture some of this growth. Khazanah will instead concentrate...

The Russian captain of the container ship that collided with a 'U.S. The London court found the Russian captain of the container ship that crashed into a?U.S. Vladimir Motin was the captain of the Solong tanker when it struck the Stena Immaculate, which had been anchored with just over 220,000 gallons of aviation fuel. The crash on March 10 started a fire that spread to both ships. Mark Pernia was a crew member of the Solong, a Filipino national whose remains have never been located and are presumed to be dead. Tom Little, the prosecutor at Motin's first trial last...

Researchers said that efforts to decarbonise Indonesia’s power sector are at risk due to a faster-than-expected increase in the number?of off-grid coal plants?and a lack transparency when it comes to reducing their emissions. Indonesia's captive power plants are built by industries for their own use. They have grown rapidly in recent years due to the growth of the nickel industry in the country. According to a report from the Global Energy Monitor and the Centre for Research on Energy and Clean Air, it is difficult to monitor and implement plans to reduce emissions. Lucy Hummer, a GEM researcher, said that...

MTT Shipping and Logistics Bhd announced on 'Monday that it received approval from the Securities Commission Malaysia to proceed with its proposed listing on Bursa Malaysia main board. The Malaysian maritime logistic group that provides container liners, vessel chartering and container storage services said their initial public offering would consist of 633.5 new shares. Existing shares will not be sold, so all proceeds 'would go to the company. The statement did not disclose any financial or timing details. MTT Shipping plans to use proceeds from the IPO 'to fund growth including the acquisition and development of integrated freight systems, especially?to...

A London court heard on Wednesday that the captain of a container vessel which smashed into a U.S. oil tanker last year off Britain's East Coast tried to alter course in order to avoid a fatal collision. Vladimir Motin's lawyer stated that the Russian captain of the Solong, who hit the Stena Immaculate tanker anchored in March 2025 and tried to turn off the autopilot but failed, shortly before the crash. Motin is facing trial at the Old Bailey, accused of gross negligence manslaughter. Mark Pernia is a 38-year-old crew member whose body was never found, but is presumed to...

British prosecutors have said that the captain of a container vessel that collided with a U.S. oil tanker last year off Britain's East Coast did "absolutely nothing" to avoid an avoidable, fatal collision. His trial for the death of a crewmember began on Tuesday. Vladimir Motin was the captain of the Portuguese flagged Solong, heading for Rotterdam, Netherlands, when the tanker Stena Immaculate, which was anchored was hit on 10 March 2025. Tom Little, prosecutor, said that the Solong was mostly carrying alcohol, and some dangerous goods. These included empty but unclean containers of sodium cyanide. The Stena Immaculate, on...

British prosecutors stated on Tuesday that the captain of the container ship which collided with a U.S. oil tanker off Britain's east cost last year, did "absolutely" nothing to prevent an avoidable fatal collision. Vladimir Motin (59) was the Russian captain of the Portuguese flagged Solong, which hit the Stena Immaculate tanker that was anchored on March 10, 2025. Motin, who was arrested four days earlier, was charged with the murder of Mark Pernia (38), a Filipino national, and member of the Solong crew. His body has not been located and is presumed to be dead. Tom Little, the prosecutor...

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...

Petroliam Nasional, the Malaysian state-owned energy company On Wednesday,?it said that it would supply Chinese offshore oil company CNOOC 1 million metric tonnes of?liquefied gas (LNG) per year. Petronas stated in a press release that the agreement between Petronas 'LNG and CNOOC Gas and Power Singapore 'Trading & Marketing' builds on existing cooperation between both?companies. Petronas will sign a 10-year contract for LNG supply with a CNOOC subsidiary in?2021. The deal is valued at $7 billion. CNOOC and Petronas have not responded to our requests for details, including the duration of the deal. Petronas and Canadian oil company Pembina Pipeline...

Lukoil abandons Ghasha Project, gives ADNOC 10% stake Demand from Asian lenders including Chinese banks The first gas production is expected by the end of this decade Yousef SABA DUBAI, December 18 - Abu Dhabi National Oil Company announced on Thursday that it had secured an $11 billion?structured financing in order to monetise the future gas production of its Hail?and?Ghasha project, following the withdrawal by Russia's Lukoil. The deal was signed with Eni and PTTEP, and involves 20 global and local banks. The deal uses a pre-export financing model, backed by future throughput of gas, to provide upfront cash, years...

Lukoil abandons Ghasha Project, gives ADNOC 10% stake Demand from Asian lenders including Chinese banks The first gas production is expected by the end of this decade Yousef SABA DUBAI, December '18 - Abu Dhabi National Oil Company secured $11 billion of structured financing to monetize future gas production at its Hail and Ghasha project, the?state company announced on Thursday. This was after Russia's Lukoil pulled out of the project. This deal was signed with Eni and PTTEP and involves 20 global and local banks. The deal uses a pre-export financing model, backed by future throughput of gas, to provide...

Market sources say that the U.S. president Donald Trump has ordered a ban on?all sanctioned tankers' entering and exiting Venezuela. Washington announced its latest move on Tuesday to increase pressure on Nicolas Maduro’s government through the imposition of a blockade. Venezuela uses naphtha as a diluting agent for its heavy crude oil to make it easier to transport. In July, it began importing naphtha in Russia after U.S. sanctioned cut off supplies to its former American suppliers. Due to the fact that Russia is using sanctioned ships to deliver its naphtha to Venezuela, traders have warned these vessels could be...

Malaysia's Transport Ministry announced on Wednesday that the search for missing Malaysia Airlines Flight MH370 would resume on December 30. This comes more than a year after the flight, bound for Beijing, disappeared in what is considered one of aviation's biggest mysteries. Flight MH370 was a Boeing 777 carrying 227 passengers, 12 crew members, and it disappeared en route to Beijing from Kuala Lumpur in 2014. Since then, multiple search operations have been carried out but none of them has yielded any results. In April, the most recent search of the southern Indian Ocean had to be suspended after only...