Asia

Three shipping sources reported that India's Reliance Industries paid between $23 and $25 million for a charter of a "supertanker" to lift Iraqi crude. This is due to the limited number of ships in the Gulf, as well as the high cost of each voyage. Shipping traffic through the Strait of Hormuz is well below the average of between 125 and 140 vessels per day before the Iran War began in February. This puts further pressure on buyers who are trying to move their cargoes. Reliance, operator of the largest refining facility in the world, located in India's western state?Gujarat...

The President of Russia, Vladimir Putin, has approved the sale of the 30.4% government stake in the Sheremetyevo airport, the largest airport in Moscow, at a moment when Russia seeks to?restore its war-depleted finances. Putin signed a decree Thursday removing Sheremetyevo's name from the list of official strategic enterprises. The state will still retain a "golden share" that allows it to block management decisions. The decree prohibits the sale of a stake to foreign investors and requires that the purchaser continue with 'the core business' and modernisation. The four-and-ahalf years of conflict in Ukraine have put a strain on the...

German authorities opened a counterterrorism probe after a drone containing explosives, which was found at the Leipzig/Halle Airport cargo and military logistic hub in what interior minister called a "hybrid attack", was discovered. The drone was discovered by airport workers in a restricted zone late Tuesday night, causing flight cancellations and the closure of certain parts of the airport. On Wednesday, German Interior Minister Alexander "Dobrindt" said that the incident had opened up a whole new level of risk. Here are some details on the drone incident that occurred at Leipzig/Halle Airport this week. From a World War Two Destrotion...

Four?industry?sources' said that a proposed deal between Iran & Oman, which would give Tehran control of ships entering the Gulf via the?Strait of Hormuz, is not easily attainable?due U.S. sanctions & restrictive insurance clauses for any?payments. The narrow waterway connecting the Gulf to the Indian Ocean, before U.S. and Israeli airstrikes in February unleashed a war on Iran, was the main route used by a fifth or more of the world's oil and other essential goods. The waterway was open to all vessels without any fees. The biggest obstacle to ending the conflict has been the control of the strait....

I Squared Capital, a global infrastructure investor, will purchase Indonesian logistics and cold storage company Cella. This marks its entry into Southeast Asia’s largest economy, as it plans to expand a lot over the next 4 or 5 years. Harsh Agrawal, senior partner at Cella and based in Miami, said that the investor wants to increase Cella's cold storage and warehouse space from 231,000 square meters to approximately 1.5 million square meters. I Squared has announced that it will purchase the entire business of NWP Property, a Japanese logistics facility specialist and CRE. The financial terms of the deal were...

The Black Sea region is the latest strategic trade chokepoint that has been hit by an escalating conflict. The Black Sea is an important route for grain, crude oil and refined products. The waters of the Black Sea are shared between Russia, Ukraine, Bulgaria, Georgia and Romania. In recent weeks, both Russia and Ukraine have intensified their attacks on the other's agricultural export vessels and facilities in the Black Sea region. Kyiv also increased its attacks on Russian oil tankers. The latest escalation creates another pressure point on commodity markets, already dealing with disruptions in major shipping routes across the...

The Black Sea region is becoming the latest strategic 'trade chokepoint' to be affected by an escalating conflict. The Black Sea is an important route for the shipment of?grains,?crude oils and refined products. The waters of the Black Sea are shared between Russia, Ukraine, Bulgaria, Georgia and Romania. In recent weeks, both Russia and Ukraine have intensified their attacks on the other's agricultural export vessels and facilities in the Black Sea region. Kyiv also increased its attacks on Russian oil tankers. The latest escalation creates another pressure point on commodity markets, already dealing with disruptions in major shipping routes across...

According to industry sources, and calculations, Belarusian gasoline and diesel supplies to Russia reached a monthly record in July. Fuel shortages were caused by unplanned outages at Russian oil refineries after months of relentless 'Ukrainian drone attacks. According to industry data and calculations, the Russian gasoline production had dropped early in July, to around 65% the average seasonal consumption. Diesel production had also fallen to the same level as domestic demand. The?Russian Government, in response to rising fuel prices at retail and wholesale, banned diesel exports. However, it allowed exemptions under previous contracts and intergovernmental agreements. Export restrictions for gasoline...

Five industry sources familiar with the matter have confirmed that China has eased its limits on refined fuel exports in August for a second time. Refiners were given temporary approval to ship 2.7 millions metric tons of fuel to destinations other than Hong Kong and Macau. Due to the short timeframe for spot sales, refiners can also rollover some of their August allowances into September. The August 'programme' is expected to be 3.6 million tonnes, including shipments to Hong Kong as well as jet fuel refuelling at Chinese airports for international flights. Estimates say that the total amount of jet...

Trade sources and analysts claim that the supply of low-sulphur fuel in Singapore has been tightened due to reduced refinery output and a decline in sweet crude imports. This has led to higher refuelling prices for shippers. Data showed that spot premiums for fuel oil with a maximum 0.5% sulfur content (VLSFO), also known as fuel oil without sulphur, surpassed $58 per ton in Singapore on Tuesday. This was a record high of over four months. Trade sources reported that bunker fuel premiums in Singapore were well over $100 per ton for a prompt delivery. The U.S. - Iran war...

The Liberia flagged dry bulk ship Minoan Pioneer was struck by an unknown projectile Tuesday while sailing through the Strait of Hormuz. The crew abandoned the vessel, and one seafarer went missing. The projectile is said to have struck the engine room while a fire broke out in the accommodation area. The crew is fighting a?fire, and needs assistance. Meanwhile, the third engineer has been reported as'missing. The vessel's Greece based operator, Modion Maritime Management, did not respond immediately to a request for comment. One of the maritime safety sources confirmed that a'salvage operation' had been launched and a tugboat...

Trade sources and analysts said that the supply of low-sulphur fuel oil in Singapore has been tightened due to reduced production from refineries, and falling sweet crude imports. This is driving up fuel costs for'shippers' at the world’s largest bunkering facility. Data showed that spot premiums for fuel oil with a maximum 0.5% sulfur content (VLSFO), also known as fuel oil without sulphur, surpassed $58 per ton in Singapore on Tuesday. This was a record high of over four months. Trade sources reported that bunker fuel premiums in Singapore were well above $100 per tonne this week due to the...

Four sources with knowledge of the data claim that drone attacks in the Black Sea wiped out a fifth or more of the Caspian Pipeline Consortium's (CPC) oil loads in July, as the Russia/Ukraine conflict spilled over and affected?Kazakhstan, as well as western oil majors. Sources said that CPC loadings were more than 20% behind schedule in July, at 1.2 to 1.3 millions barrels per day after drone attacks near Black Sea export terminal disrupted supply. CPC, the pipeline that transports crude oil from Kazakhstan to Russia’s Black Sea port of Novorossiysk accounts for around 1.8% of world oil supply....

China's crude?imports dropped 24.3% on an annual basis in July, but jumped?from a near-decade low in June, according to?data released by customs on Friday. This was due to cheaper barrels purchased after the Strait of Hormuz briefly reopened in June. China imported 8.41 million barrels of crude oil per day in July, up 22% compared to June when imports were at their lowest since October 2016. This was due to weak domestic demand and export restrictions on refined oil products for energy security because of the Iran War. Ye Lin, vice-president at Rystad, explained that the increase was due to...

Two industry sources said that Russia increased its crude and condensate production in July by around 100,000 barrels per daily (bpd), to over 9'million bpd. This was due to strong oil exports, and an increase in refinery throughput. The sale of oil and fuel remains a major source of revenue for Russia's budget, which is why Moscow tries to maintain as much supply as possible despite Western sanction and repeated attacks against refineries. Sources said that Russia will not be able to maintain its July production level in August. In 2023, a little over a year after Ukraine's war began,...

Air India, which is owned by Singapore Airlines and the Tata Group, named Tewolde Gebremariam its new CEO. This comes at a time of great challenges for Air India. From record losses to safety lapses, they have been under intense scrutiny from regulators. Here are the major challenges that former Ethiopian Airlines CEO,?Mr.?Mahmoud?Al-Ghani?faced: SAFETY & COMPLIANCE The Air India Boeing 787 crash in Ahmedabad, June 2025 that killed 260 people has increased scrutiny on the airline's safety culture and operations. Indian regulators have reprimanded Air India over lapses, including the operation of an Airbus A320 in multiple flights without having...

Air India appointed former Ethiopian Airlines Chief Tewolde Gebremariam to its 'CEO' post on Wednesday. The Indian airline is currently struggling with persistent losses, and increased regulatory scrutiny after a fatal crash last year. Gebremariam succeeds New Zealander Campbell Wilson. Wilson was a former Singapore Airlines executive who was appointed in 2022 as the new leader of Air 'India after it had suffered years of decline under state ownership. Air India reported that Wilson had informed Chairman N Chandrasekaran of his intention to step down in this year 2024. The 'Tata Group owned airline is suffering heavy losses, not only...

The Caspian Pipeline Consortium suspended operations several times this week due to safety concerns and a shortage of tankers. This is because the main export route for Kazakh crude has been hit by drone attacks. Since the middle of the last month, the loadings of the pipeline have been disrupted. The pipeline carries around 1.8% of the global oil supply, from Kazakhstan to Russia’s Black Sea Coast. This adds to the supply disruptions linked to the U.S. and Israeli war against Iran. Sources said that the pipeline was only temporarily reopened this week and closed on Wednesday. Shipowners are reluctant...

Six supertankers flying the Saudi flag have altered course in recent days in 'the Gulf of Aden,' and are now heading south to afria. This is in response to 'threats made by Yemen Houthi to target Saudi shipping. According to AIS tracking on LSEG/MarineTraffic, the tankers were in formation, heading towards southern Africa after having returned from Asia with no cargo. They did not transit the southern Red Sea through the Bab el-Mandeb 'chokepoint. Ship tracking revealed that one of the tankers, "Dilam", had Gibraltar on its itinerary. Bahri, the Saudi vessel's operator, and other Saudi officials have not responded...

Ukraine's forces have struck Russia's energy infrastructure, which Kyiv claims is an attempt to deny Russia resources for funding its military. Here is a list of recent attacks and their impact, starting with the most recent: SARATOV On August 2, the Ukrainian military attacked Rosneft's Saratov oil refining plant in southwest Russia. Two sources claim that the Saratov oil refining plant in Russia stopped oil processing July 9 due to damage caused by a drone attack. The plant will process 5.8 million tons of oil in 2024. VOLGOGRAD On July 31, a drone attack in the southern Volgograd region of...

A source familiar with the operational data said that Kazakhstan's crude oil and gas condensate?production?fell from 2,16 million barrels per days in June to?about 1,85 million barrels a day or 7,6 million metric tonnes in July 2026. Sources said that the decline in oil exports was due to disruptions on the Caspian Pipeline Consortium (CPC), the main route of export for Kazakh crude. Kazakhstan's oil output is heavily dependent on the CPC. It has no other real options to export the vast majority of its oil output elsewhere. Last month, oil exports via CPC were interrupted several times. Loadings at...

Calculations showed that the average daily natural gas supply to Europe by Russian energy giant Gazprom via TurkStream's undersea pipe fell 5.2% compared to a year earlier, falling from 48.8 million cubic meters in July. The only remaining transit route for Russian gas into Europe is through Turkey after Ukraine did not extend the five-year transit agreement with Moscow that expired in January of 2025. According to calculations based on data from the European Gas Transmission Group Entsog, total Russian gas supplies via TurkStream were?at 1,51 billion cubic metres in July last year. This is down from 1,59 bcm. The...

Officials in Indonesia continue to search for the 28 people who are still missing after a ferry caught on fire near?Indonesia?s Madura Island, according to an official. Authorities had reported that the KM Mutiara Sentosa, which was carrying 271 'passengers', was traveling from Indonesia's second-largest?city of Surabaya in East Java province, to Makassar in South Sulawesi when it caught fire. Madura Island is located just off the northeastern coast Java. Arman Asmara, Director of Marine and Air Affairs at East Java Police, said that 28 of the 271 people on board remain missing. Five confirmed deaths and 238 were rescued....

A chef prepared to serve dozens if people who were waiting for a hot meal after Ukrainian attacks had cut off power in their kitchens. Fuel supplies in cities and towns throughout Crimea, the area that Russia annexed as part of Ukraine in 2014, were limited for most of the summer due to Ukrainian attacks on power plants and other infrastructure. Ukraine says that it is "bringing the war home to Russia" through intensified strikes on the territory and deep within the country controlled by its neighbor. Oksana Mdyud, the head of Massandra's town administration, said that her workers serve...