Asia

Rescuers in the Philippines recovered another 41 charred remains following a ferry fire. The death toll now stands at 76, and 13 people are still unaccounted for. Forensic teams face the difficult task of identifying victims. The painstaking task had already started after 30 bodies were recovered on Friday and brought to Coron Town, where tents were set-up for forensic teams who would process and identify the deceased. As anxious relatives waited for the news, responders wearing protective suits carried black body bags into tents. Anelyn, 37, was one of those victims. Her husband, who was visiting their children in...

Ayten Bicer felt her daughter, 12, slip from her hand and 'disappear' as a ferry capsized near northern Cyprus on Sunday. At least eight people were killed. Search teams were still looking for survivors Monday in the waters of more than 500 metres (1.640 feet) depth. Her daughter Miray and her 6-year-old Mehmet asaf were two of nearly 20 people who remain missing. "She said, 'Don’t let go.' And I did not let go of my child. I swear, I didn't let her go," Ayten Bicer sobbed. The girl was thrown from her grip when a suitcase fell on her....

Divers joined search teams to search deep waters in search of survivors. Nearly 20 people are still missing after a ferry capsized near Northern Cyprus on Monday, killing at least eight. On Sunday, a double-hulled 'ferry' with 267 people aboard sank and flipped on the seabed just off the port of Kyrenia. The survivors were left clinging onto the overturned hull. The coastguard and passing vessels rescued them. Naif Ezer was one of the anxiously waiting outside the port for news about passengers in the early morning hours on Monday. One of the three friends who were traveling to see...

Satellite imagery and video confirmed that two slicks appeared in Iranian waters. The Caroline Bezengi tanker is currently leaking Russian crude in a marine protected area, creating a massive oil spill that some estimate to be 2,000 square kilometers. The Caroline Bezengi case is not linked to the Iran War. Two new slicks have been detected in the Gulf. Near DOLPHIN SHAPED ISLAND Images from Copernicus Sentinel-2 satellites show that a slick is visible near the southern tip Qeshm Island. This large island shaped like a dolphin lies in the Strait of Hormuz, close to Iran's coastline. Wim Zwijnenburg is...

Officials said that 172 Indonesians were rescued on Wednesday, after a 'ferry' travelling from Bali to Lombok caught fire in the waters near the island. The'search continues for any missing passengers. Muhammad Hariyadi is the head of local rescue agency. The KM Putri Yasmin left Padangbai Port in Bali to Lembar Port in Lombok, in the province West Nusa Tenggara. Hariyadi said the incident occurred in the Lombok strait at 4:39 am on Wednesday morning (2039 GMT Tuesday). Hariyadi reported that by Wednesday afternoon one Indonesian was confirmed dead, and 172 people had been evacuated from the Lombok Strait to...

Ship-tracking data showed that four tankers changed their course in the Red Sea Wednesday. Two of them indicated the Suez Canal, after Yemen's Houthi militia warned ships to avoid sailing into Saudi Arabian ports. The Houthis, who are aligned with Iran, declared a naval blocade on Saudi Arabia Monday. This opened a new front in the war between the United States and Iran. It also raised the risk of global energy and trade outside the Gulf. The threat of Houthi hostile action against Saudi Arabia has started to have a general effect on the tanker industry, according to a ship...

Shipping data revealed that the number of tankers traversing the Strait of Hormuz dropped to its lowest level in two months in the last day, after renewed strikes between Iran and the U.S.?and attacks against vessels raised safety concerns. Shipping industry sources say that vessels are increasingly turning off their public AIS?transponders. This makes it difficult to count the total number of ships on the waterway. According to Kpler's analysis, based on the data available, oil and gas tanker traffic has fallen to its lowest levels since May 25. In a recent report, ship broker Gibson stated that the world...

Ship-tracking data showed that at least four oil and gasoline tankers had turned back from trying to transit the Strait of Hormuz. This was due to renewed attacks against vessels in this critical waterway, which raised safety & security concerns. After reports of Iran firing missiles on ships in the waterway and damaging a Qatari LNG tanker, as well as a Saudi crude oil tanker, the maritime authorities raised the threat level for transiting vessels from "moderate" to "severe." Data from Kpler and LSEG showed that the three LNG tankers – Al Ghariya Duhail Al Ruwais – were all heading...

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...

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...

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...

The United States and Iran signed a ceasefire agreement on Friday, and Gulf producers are preparing to increase exports in spite of concerns about the conditions set by Tehran. Washington and Tehran have released the text for an interim agreement that was signed on Wednesday, to end the conflict. Donald Trump has warned that he will resume his attacks and "target Iranian officials" if the commitments made are not kept. MarineTraffic reports that at least four tankers with crude oil, oil products, and liquefied gas headed for Iraqi Gulf port entered the strait Friday. After being delayed by war, a...

Malaysian palm futures increased?for the second consecutive session on Tuesday following a?continued rise in crude oil prices. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for November delivery was up 46 Ringgit or 0.95% at 4,896 Ringgit ($1,200.59). Anilkumar bagani, the research head of Sunvin Group's vegetable oil broker in Mumbai, said that BMD CPO futures traded higher today due to gains in energy prices. He said that he was able to provide additional support because of the expectation of tightness in Indonesia next year, due to its B50 mandate for biodiesel and a possible production?reduction caused...

Officials said that rough seas hindered Indonesian rescuers as they searched for 129 missing people after a passenger vessel capsized in the Java Sea three day ago. Officials said that if weather conditions improved, rescuers, who are currently only conducting air and sea surface searches for survivors, would 'launch underwater operations to search for them in the sunken vessel. The Virgo transport 8 ship, which was carrying 243 passengers, went missing early Sunday morning due to bad weather. Six people are confirmed dead and 108 have been rescued from the ship, which was traveling from Surabaya (East Java) to Banjarmasin...

As investors prepared for the Federal Reserve to raise interest rates, the U.S. Dollar rose on Monday. The dollar is supported by the warnings of leaders of the largest AI companies regarding the dangers of AI. The U.S. Dollar Index, which tracks currency against six major counterparts, rose last by almost 0.6%, after previously touching 99.648, it's highest since September 2. The euro dropped to its lowest level in a month at $1.153, and last fell by 0.5%. Meanwhile, the British pound dropped 0.5% to reach $1.3474. Brent crude rose 3% to $108 per barrel, causing investors to panic and...

The U.S. Dollar rose to its highest level in two weeks on Monday, as the conflict in the Middle East drove up oil prices and pushed investors into the "safe-haven" currency. This weighed on the yen's recent gains. The dollar was boosted by the warnings from CEOs of frontier companies about AI's potential dangers. Meanwhile, rising bets placed on the Federal Reserve raising rates on Wednesday also helped the U.S. Dollar. The U.S. Dollar Index, which tracks currency against six major counterparts, rose last by almost 0.4%, after previously touching 99.6, the highest level since September 2. The euro dropped...

Industry sources reported on Monday that Asian refiners were preparing for a tighter supply of sour oil as they awaited Saudi Arabia's guidance on exports via Red Sea following the attacks on the East-West Pipeline. Saudi Arabia closed a pipeline on Friday after it was attacked. The shutdown helped?push up the oil prices by 3% Monday. Sources at Asian refineries say that Saudi Arabia hasn't said how long it may take to repair the pipeline and Saudi Aramco is not providing updates on shipment schedules or supply allocations. Sources said that they were notified of a delay in loading, but...

Two industry sources reported that the Caspian Pipeline Consortium increased its oil exports by 22% in August compared to the previous month. This is equivalent to 1.6 million barrels per day. The increase was due to a stabilisation of loadings and fewer attacks on tankers. CPC Blend oil loads in July fell to 5.172 millions tons or 1.32million bpd as a series of attacks against tankers on the Black Sea caused the terminal to suspend loadings, and the majority of shipowners to refuse requests to sail to Russian ports. According to a source, exports of Kazakh crude oil via the...

Malaysian palm oil futures rose on Monday due to higher crude oil prices. Also, rival soy oil prices in the Chicago market also helped. At closing, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange was up 39 Ringgit or 0.81% at 4,853 Ringgit ($1,191.21) per metric ton. A Kuala Lumpur trader stated that "Today's FCPO is holding steady on the back of a strong?crude?oil with the anticipation of better demand?for bio-diesel use in the future." Crude oil prices rose more than 3% on the Monday after a new attack on Saudi Arabian energy infrastructure and an attack on...

U.S. Dollar rose to two-week-high on Monday, as conflict in the Middle East drove up oil prices and sent investors into the safe-haven currencies. This weighed particularly 'on the recently buoyant yen. The dollar was boosted by the warnings of CEOs of frontier companies about AI's potential dangers. Meanwhile, rising bets placed on the Federal Reserve raising rates on Wednesday also helped the U.S. The U.S. Dollar Index, which tracks currency against six major counterparts, rose last week by almost 0.5%, to 99.59. This is its highest level since September 2. The euro dropped to its lowest level in a...

The Greater Sunrise Natural Gas Project has pushed its earliest production start back by?two year to '2034, East Timor’s?petroleum? minister said. This tightens up a timeline that is already plagued with decades of delays. East Timor Minister of Petroleum & Mineral Resources Francis da Costa Monteiro said at the Gastech Conference in Bangkok that production at the multibillion-dollar gas field will begin in 2034-2035. East Timor's Australian partner,?Woodside, forecasted last year that the project would be producing gas between 2032 and 35. This was the first time both parties had announced a timeline. Timor-Leste is the poorest nation in Southeast...

Investors pondered the possibility of rate hikes by the Federal Reserve and?Bank of Japan. Meanwhile, a rise in oil prices?amped down risk sentiment. As the fighting in the Middle East intensifies, global policymakers are faced with unpredictable pricing pressures. Oil prices have risen well above $100 a barrel. Rates have also been impacted by steep sales of long-end bonds. The European Central Bank increased rates last week, and warned against further increases. This was ahead of the Fed's policy announcement on Wednesday, and a widely anticipated rate hike by the BOJ this Friday. The Bank of England will likely remain...

Malaysian palm futures jumped on Monday, supported by higher crude prices and rival soy prices in the Chicago market. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange was up 62 Ringgit or 1.29% at 4,876 Ringgit ($1,198.03). A Kuala Lumpur-based trader stated that "Today's FCPO is holding firm due to the strong crude oil and the?anticipation for better demand in the future for bio-diesel use." Oil prices rose by more than 3% Monday after Houthi attacks on Saudi Arabia and Iranian attacks against ships in the Gulf compounded concerns about supply 'following the closing of a...

Preliminary shiptracking data revealed on Monday that the number of commodity vessels transiting the Strait of Hormuz fell to just one digit per day at the weekend. This is well below the 10-day average of 14. Four vessels left the Gulf via the Strait over the weekend, including a Handysize vessel in ballast, an LPG-carrying Handy vessel, a Supramax vessel with fertilizer, and a Suezmax vessel loaded with crude oil or condensate. The data revealed that ten vessels entered the Gulf. These included a Handymax transporting grain, a Panamax transporting metals, and a Supramax transporting dry bulk cargo. The figures...