Asia

The Nikkei reported that GLP - Japan has raised 600 billion dollars ($3.76 billion) to create a fund for building logistics centers. This is a result of an influx in overseas capital. GLP Japan is a Japanese subsidiary of Singapore-based logistics firm GLP. The?Tokyo GLP Japan fund's investments, including borrowings, will total 1.7 trillion yen. This makes it the largest real estate fund in the country, according to?Nikkei. The report stated that the majority of investors are from outside Japan. The Canada Pension Plan Investment Board allocated 150 billion yen. The funds raised are expected to be used for the...

Shiprocket, which is backed by Temasek, saw its first-ever?trade soar as much as 48.6% on Wednesday. It was valued at 100.1 billion rupees (about $1.05 billion) as investors bet on the?technical approach of the logistics?firm to capitalize on India's rapidly expanding e-commerce eco-system. The shares were trading at 142 rupees each, as opposed to the original issue price of just 97 rupees. Analysts predict that India's retail gross merchandise value will grow by 20% to 25% annually between 2025 and 2030. This growth is due to a combination of factors, including increasing internet penetration, digital payment adoption, and increased demand...

The 'United Kingdom Maritime Trade Operations' said a?report?was received?on -Tuesday? that a vessel had been struck by an unidentified projectile as it transited outbound through the Strait of Hormuz. This caused engine room damage? and a crew fatality. According to the report, the remaining crew members were being 'assist by the Omani Coast Guard. UKMTO stated that no environmental impact had been reported, and authorities were investigating. Sources in maritime?security identified the vessel as Minoan Dignity with Liberia flag, saying that it was struck by a projectile unknown while on an outbound transit along a strategic waterway. According to sources,...

A Russian regional official stated that self-driving vehicles and drones could be used to transport goods between China and Russia's Far East. The brisk trade across the border has prompted a search for?new forms of cargo transportation?to avoid congestion. The Amur region of Russia, which?shares? a long border between China and Russia, is developing trial programmes with Chinese authorities in partnership, said the deputy chairman of the regional government, Pavel Puzanov. He was speaking at a business conference in Kazan. China is providing a lifeline for Russia's economy after it was sanctioned following the invasion of Ukraine by Russia in...

L'IMAD Abu Dhabi sovereign wealth fund, led by the crown prince of the emirate, plans to bid for all shares in 'Abu Dhabi Ports', the global port operator. It announced this on Monday. L'IMAD owns a wholly-owned?subsidiary ADQ that holds 75.42% of the shares in?AD Ports. It is now looking to purchase the remaining share capital through a voluntary conditional cash offer. According to's calculations, the offer represents a 23 percent premium over AD Ports's closing share price of 5.10 dirhams for August 14. This value would put AD Ports at more than 31.2 billion dirhams (approximately $8.6 billion). L'IMAD...

Three sources familiar with the matter confirmed that the suspension of crude oil exports was due to a drone attack on Friday. This added to the disruptions at one of the country's main export outlets. Sheskharis, Russia's largest oil export facility in the Black Sea, handles approximately 700,000 barrels of crude oil per day. The shutdown of the Sheskharis terminal adds pressure to Russia's energy infrastructure, which has been repeatedly attacked in recent months. On Friday, the administration of Novorossiysk sent out a new drone alert to residents. This indicates that there is a continuing threat in the port area....

Oman presented to Iran a proposal for a regional?joint mechanism to manage the Strait of Hormuz with voluntary fees. On Tuesday, a Gulf?source told? Source: Under the Omani plan, which is supported by the region, Iran will not be the sole owner of this vital waterway. The proposal is based upon the Strait of Malacca where users of the strait contribute to navigation, environmental protection, and search and recovery. U.S. air strikes on Iran were abruptly suspended over the weekend. This raised hopes for a diplomatic resolution that would allow shipping to resume in the Strait of Hormuz, which was...

Houthis, who are allied with Iran, in Yemen, will blockade Saudi Arabia's maritime traffic, they announced on Monday. This would further restrict a global market for energy, which is already severely restricted due to Iran's closing of the Strait?of Hormuz. Why it matters, and what it means to the Iran War and the global energy crises: How big is the risk to global energy markets? It's not clear what the Houthis will do to blockade Saudi Arabia along the Red Sea Coast, their northern neighbor. Or if they would return to attacking shipping. Yemen is located on the strait of?Bab...

Four industry sources confirmed that Russian steel billionaire Vladimir Lisin sold a shipping company?operating?in the Sea of Azov, to agricultural logistics group Demetra. They added that the deal had been negotiated before Ukrainian drone strikes on commercial vessels caused shipping restrictions in the region. Volga Shipping transports grain, metals and coal along the Volga, Don and Black Sea rivers. Its cargo volume is more than 15 million metric tonnes per year. On Monday, neither Demetra nor Volga Shipping, nor Lisin's steel company NLMK responded to any requests for comments. Four sources confirmed that Demetra and Lisin-affiliated companies were involved in...

Shipping data shows that Gulf countries have boosted crude oil and condensate exports to their highest level since the Iran War began late in February. Although the flow through the Strait of Hormuz is now slowing, as fighting escalates. Kpler data showed that crude and condensate imports from Saudi Arabia and the United Arab Emirates increased by about 16 percent from the average daily exports of June to 12 million barrels of oil per day in the first half July. Vortexa estimated that exports for the period were even higher at 13.06 million bpd. Kpler reported that Saudi Arabia, Iran,...

Shipping data shows that Gulf countries have increased crude oil and condensate exports to their highest level since the Iran War began late in February. However, the flow of oil through the Strait of Hormuz is now slowing down as the fighting intensifies. Kpler data showed that crude and condensate imports from Saudi Arabia and the United Arab Emirates increased by about 16 percent from the average daily exports of June to 12 million barrels of oil per day in the first half July. Vortexa estimated that exports for the period were even higher at 13.06 million bpd. Kpler reported...

Shipping data shows that Gulf countries increased 'crude oil' and 'condensate" exports to their highest level since the Iran War began late in February. However, the flow of crude oil through the Strait of Hormuz is now slowing down as the fighting escalates. Kpler data shows that crude and condensate imports from Saudi Arabia and the United Arab Emirates increased by about 16 percent compared to the entire June daily average, reaching 12 million barrels a day (bpd), in the first half of July. Vortexa estimated that exports for the period were even higher at 13.06 million bpd. Kpler reported...

According to Russia's Energy Minister Sergei Tsivilev, Vladimir Putin has renamed "Power of Baikal", the planned gas pipeline from Siberia to China. He didn't say if other aspects of the project were changed. Tsivilev said that the 'Power of Baikal' project, formerly called 'Power of Siberia 2 but named by Vladimir Vladimirovich Putin, was in its final stages of construction. It is estimated that the?2,600 km (1,616 miles) pipeline will carry 50 billion cubic meters (bcm), of gas to China each year from the Arctic gasfields of Yamal. The pipeline would be a complement to the existing Power of Siberia...

Bangladesh has launched a programme to encourage the installation of 'rooftop systems with battery storage. This is aimed at reducing power shortages in Bangladesh and its dependence on imported fuels. South Asia's 175 million citizens are facing their worst power shortages for years. This is exacerbated by the lack of natural gases and worries about global fuel supplies, as tensions in the Middle East increase due to the Iran War. According to a government announcement, consumers who install?eligible roof-mounted solar systems? by February 28, 2020 will receive 10,50 taka ($0.086 per kilowatt hour) for excess electricity that is fed into...

The analytical department of Ukraine's largest farmer's union UAC warned on Tuesday that Ukrainian exporters and producers should not rely on deep-water port operations resuming any time soon, but instead focus on other options. In recent months, Russia increased the intensity and number of drone strikes it conducts on Black Sea port infrastructure, particularly in the Odesa area. This effectively blocks a route which used to handle 90 percent of Ukraine's exported goods. This forced Ukraine to divert cargoes via the Danube River ports and rail to its western border. Transport via alternate routes can cost up to $50 more...

Shipping data showed that the number of visible cargo vessels transiting the Strait of Hormuz fell to five per day over the weekend as companies remained cautious amid ongoing attacks against ships. Some ships have turned off their automatic identification systems to avoid attacks. Kpler's data shows that weekend traffic was limited to small vessels. The data revealed that two liquefied gas carriers were among the vessels. One of the ships left the Strait via the Iranian route, while the second sailed in the dark and was heading to India. On Friday, fourteen vessels crossed the Strait of Hormuz including...

Yuri Ushakov, Kremlin's foreign policy adviser, said that the Russian president?Vladimir Putin would meet with Chinese President Xi Jinping?on a side-line?of??the Shanghai Cooperation Organisation summit?? in Bishkek?, Kyrgyzstan?s capital. Ushakov stated that the leaders will discuss the?planned 2,600-km (1.616-miles) Power of Siberia?2 system, which is expected to transport 50 billion cubic meters (bcm),?of gas a year?to China via Mongolia?from the Arctic Gasfields. Power of Siberia 2 is stalled because of price disagreements, and the pipeline talks have been going on for many years. Putin will also meet with Turkish President Tayyip Erdoan, and he is expected to discuss with him...

Russian traders are transferring Urals crude to very large crude carriers for delivery to Asia via ship-to ships, according traders and LSEG data. This practice is being revived by the stronger Chinese demand, higher freight costs, and increased Russian trade. China is expected to increase its imports of Russian crude oil as the Middle East's conflict causes disruptions in regional supplies. Russia delivers crude oil to China through pipelines that connect its oilfields to Chinese refiners, and via the Pacific port of Kozmino. During the summer, volumes are also transported from Russia's western port via the Red Sea or the...

Ukrainian forces continue to strike at Russian energy infrastructure, as well as other sites. Kyiv claims that this is part of an effort to deny Russia resources for funding its military. The following is a list of recent attacks, starting with the latest. NORSI Ukrainian drones attacked NORSI this week, Russia's 4th largest oil refinery owned by Lukoil. The crude oil processing was suspended on August 26. NORSI is Russia's second largest gasoline producer. It can process?15,000,000 metric tons per year. NOVOSHAKHTINSK A drone from Ukraine damaged the Novoshakhtinsk oil refinery, located in southern Rostov Region of Russia. The governor...

Ukraine's grain sales have plummeted?this week after Russian attacks effectively shut down its Black Sea ports.?Rail and river routes are unable to compensate for the lost capacity. Ukrzaliznytsia, the state railway operator, said that grain exports have been reduced by 60% compared to the same period in August last year. It said that the volume consisted of 170,000 tons delivered to Ukraine's Danube port and 343,200 tonnes transported to the western border crossings. After Russian attacks effectively blocked Ukraine's Black Sea port, which handled?90% grain exports, shipments have been rerouted via Danube ports, and border crossings to European countries. These...

Three industry sources said that the?Ukrainian drone 'attack' on Russia's Nizhny Novgorod region caused a halt to?crude oil?processing at NORSI, Russia’s second largest?gasoline producer and fourth-largest refinery. A drone attack by Ukraine on the Russian region of Nizhny Novgorod on August 26 damaged an unspecified industrial building, according to local governor Gleb Nikitin. Lukoil - the owner of 'the refinery' - did not respond immediately to a'request for comment. Sources said that the drone attack had damaged a number of?processing units and inter-unit infrastructure, as well as general?plant equipment. The sources were unable to estimate how long it would be...

A spokesperson for PCK Schwedt in Germany said that the refinery is still running at around 80% of its capacity, despite the loss of Kazakh crude oil. Alternative imports through Poland's Gdansk Port have fully compensated for what was lost, according to a statement on Wednesday. Russia has stopped supplying Kazakh crude oil to Germany via the Druzhba Pipeline as of?May 1. This is a serious blow to the refinery that supplies the majority of fuel to Berlin and relies on Kazakhstan for 17%. PCK's?currently? supplied via?routes through Rostock and Gdansk allows it to maintain the operating levels reached when...

Four sources who have direct knowledge of the issue said that at least three Indian refineries?and one global energy giant plan to stop using ships on Iran's blacklist for transfers between ships, including ship-to-ship, because they are concerned about security. Tehran announced Sunday that it had compiled a "blacklist" of 45 vessels which, according to the Iranian government, have violated its rules when crossing the Strait of Hormuz. It also said that any vessel transferring cargo with these ships would be subjected to action. This is a further escalation of its threats regarding the vital waterway in the global energy...

Adani Energy Solutions, an Indian conglomerate, announced on Wednesday that it had won a transmission project worth $492.62 million (47 billion rupees) in Maharashtra. This is a major boost to the company's efforts to expand its clean-energy infrastructure. The company stated that the project would deliver up to 4,500MW of renewable energy and storage power within 36 months. The company will be able to add a total of?562 circuit kilometers of transmission lines, and 9,000 mMVA of capacity for transformation. India is racing to build the transmission networks needed to reach its target of 500 GW non-fossil power capacity by...