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 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...

The dollar strengthened on Monday. The yen wobbled near a seven-month peak as investors considered possible rate hikes by the Federal Reserve and Bank of Japan this week. Meanwhile, rising oil prices due the intensifying conflict in the Gulf drained sentiment. The six-month long U.S./Israeli war against Iran has caused erratic price pressures that have pushed oil well above $100 a barrel. This has also shifted the rate path due to bouts of selling off in long-end bond. The European Central Bank increased rates last week, and warned that there would be more hikes. This set the stage for Wednesday's...

An official said on Monday that more than 600 Indonesian rescuers are searching for 129 people still missing, after a passenger vessel capsized in the Java Sea at the weekend. The death toll remains the same, at six. Rescue agency reported that the Virgo transport 8 ship, which was carrying 243 passengers, went missing early Sunday morning due to bad weather. The authorities have rescued 108 passengers from the ship that was traveling from Surabaya, East Java, to Banjarmasin, South Kalimantan. We have been searching for the missing ever since early morning. "We are deploying around 12 ships and 622...

On 'Sunday, U.S. president Donald Trump said that he would consider the request of relatives of those who died in the 9/11 attacks for more information about the attack and whether the perpetrators were linked to Saudi Arabia. He told reporters before boarding the plane to return to the U.S. that he would "look at it" when he returned. Families of 9/11 victims have been calling for the declassification of other?records relating to?the events. New York legislators from both parties have asked the Trump administration to release some phone records. This is one of our best chances to get this...

Donald Trump suggested on Sunday that the United States might "keep" oil in Iran, drawing a parallel with the U.S. effort to seize a fifth Venezuela's vast reserves of oil. He said that on a trip to Ireland to attend meetings and watch golf he still "expected" the Iran War to end this coming year. This could be just before the midterm elections in the United States due in November. Trump said that gasoline prices would drop "like a rock" when the Iran War ended. Oil traders expect prices to increase again on Monday following an attack on Saudi oil...

Saudi Arabian stocks fell in the early trading on Sunday as a result of 'the market's reaction to drone attacks' on the Kingdom's East-West crude oil pipeline. Saudi Arabia's benchmark index fell?1.0%. This was due to a 0.8% decline in Al Rajhi Bank, and a 2.4% drop in Saudi Arabian Mining Company. Saudi Aramco, the oil giant, fell 1.1%. Rabigh Refining and Petrochemical Company plummeted 7.3% and was the worst performer of this session. The sale 'followed an emergency shutdown of the East West pipeline on Thursday after aerial strikes 'hit installations in the Riyadh region and Medina, causing multiple...

The Houthis, who are aligned with Iran, have launched a lightning-fast offensive that has placed them in a position to control an important Middle East waterway. This is a new and major problem for U.S. president Donald Trump while his war against Iran continues in its seventh month. Houthi fighters are advancing south along Yemen's coastline, increasing their 'ability' to choke off Bab el-Mandeb Strait, the "Gate of Tears", at the mouth of 'Red Sea, giving Tehran the potential to gain leverage over both of region's major oil-shipping routes. On Friday, militants reached Perim island in the middle strait connecting...