Asia

Singapore has granted 'eight new licenses for the supply of liquefied 'natural gas to be used as a marine lubricant in Singapore starting?September 1, -2026, Maritime and Port Authority of Singapore announced on Thursday. The new licenses will increase Singapore's LNG bundling capacity in order to meet the growing demand and support a multi-fuel hub. Licenses were granted to a number of companies, including Aramco Trading Singapore and Equatorial Marine Fuel?Management?Services. Other recipients include PetroChina International Singapore and Shell Eastern Trading. The licenses are valid for a period of five years, from September 1, 2026 until August 31, 2031. LNG...

The Egyptian cabinet confirmed on Thursday that a 'drone' was responsible for the fire which engulfed the two gas ships at Egypt’s Mediterranean port of Damietta. This is the first confirmation that the blaze that broke out a day before was not an accident. The cabinet said that no party had claimed responsibility and authorities continued their investigations, taking the?necessary steps to protect Egypt's security. Ambrey, a British maritime security company, said that on Wednesday a "drone" had struck a U.S. owned gas storage tanker in the port. This was an initial assessment which raised concerns over a possible 'further...

Russia said on Thursday that it had launched a series of 'overnight strikes' on Ukrainian military factories, including in Kyiv, the capital, and Lviv in western Ukraine. It also claimed to have hit three cargo ships at sea in the Black Sea. The Defence Ministry claimed that it used missiles launched from land, sea, and air, along with strike drones to 'hit the Mayak Factory in Kyiv, which was said to be involved in the production of Ukrainian FP-1 & FP-2 strike robots. In the same statement, it claimed that it had hit Kyiv’s Electrical Technical Plant where it was...

Ambrey, a British maritime security company, said that a drone had hit a U.S. owned gas storage tanker in Egypt's Mediterranean port of Damietta. This was an initial assessment, which could indicate a new outbreak of conflict throughout the Middle East. Egypt's petroleum minister confirmed that there was a fire in the port, but did not mention a drone strike and did provide no explanation for the incident. Inchcape, a port services company, said in an unrelated message that two gas tanks had caught fire at Damietta. Three sources who were familiar with the incident confirmed that a drone struck...

Ambrey, a British maritime security firm, said on Wednesday that a drone had struck a U.S. owned gas storage tanker in Egypt's Mediterranean Port of Damietta. The company cited an initial assessment. The Egyptian petroleum ministry released a statement that confirmed the fire in the port, but did not mention a drone attack. Inchcape, a port services company, said in an unrelated message that two gas tanks had caught fire near Damietta. Three trading sources who were familiar with the incident confirmed that the drone struck a floating storage tanker named Energos winter, causing an explosion which spread to a...

As investors become more selective, major U.S. tech companies are borrowing heavily to fund their artificial intelligence builds. The yields on these loans have been steadily increasing. According to a LSEG analysis, Amazon, Alphabet and Meta Platforms issued approximately $194 billion of bonds between 2026 and July 7. This is up 79% compared to roughly $108 billion of bonds from 2025. Goldman Sachs expects the bond issuance of five hyperscalers including Microsoft Corporation to reach approximately $250 billion this year, and $400 billion by 2027. These investment-grade companies have seen their borrowing spreads increase over the risk-free rate for all...

Two merchant bankers who have a 'direct' knowledge of the plans confirmed the plan on Wednesday. The bankers declined to name themselves because they were not authorized to speak with the media. In August 2025 the company raised 15 billion rupees via an 18-month paper at a return of 10.35%, and 44 billion rupees via three-year papers with a rate of 10.50%. The bankers said that Delhi International Airport (DIAL), where GMR Airports has a 74% stake, also plans to raise 35 billion rupees through longer-duration papers of 15 years. These will have a call-option at the end the fifth...

Six sources familiar with the situation said that China held direct discussions with Yemen's Houthi movement to allow its tankers to navigate through the southern Red Sea, without being attacked. The Iran-aligned group had pledged to block access to Saudi ports. The Houthis announced their 'blockade' on July 20th, opening a?new front?against U.S. allies and the Iran war? and expanding attacks on oil tankers transporting energy and other supplies beyond the Middle East. According to sources, including a senior Iranian official, Beijing asked the Houthis to guarantee safe passage for their tankers. Sources who declined to identify themselves due to...

Adani Ports &?Special Economic Zone announced a 9.2% increase in its first-quarter profit on Wednesday. The net profit for the quarter ended June 30 rose from 33.15billion rupees to?36.2billion rupees (?378.37m) compared with a year earlier. The positive results are amidst a challenging global?shipping climate, where uncertainty in trade flows clouds the 'outlook for the logistics sector as a whole. The ports and logistics industry has been supported by a steady domestic demand despite disruptions in global trade flows. In afternoon trading, shares of Adani Ports (which operates 19 ports in four countries) were down 2.1%. Adani Ports 'forecast a...

Six sources familiar with the situation have confirmed that China held direct discussions with Yemen's Houthi Movement to allow its?tankers the freedom to navigate through the southern Red Sea, without fear of being attacked by the Iran-aligned militia. The 'Houthis' declared their blockade of the U.S. on July 20. This opened a new front in the Iran War against the U.S. According to sources, including a senior Iranian official, Beijing asked the Houthis to guarantee safe passage for their tankers. Sources who refused to be named due to the sensitive nature of the issue said that China was one of...

Five industry sources have confirmed that three major Russian Black Sea grain terminals have limited grain deliveries via?truck due to increased shipping risks and the increased flow of grain following restrictions on the Sea of Azov. This month, Russia, the largest exporter of wheat in the world, has restricted shipping on the Sea of Azov after Ukrainian drones targeted several Russian grain ships along the route. The route accounts for about a quarter of Russia's grain exports. The authorities redirected grain that was previously shipped by rail and truck through the Sea of Azov from the fertile south to terminals...

The Russian Defence Ministry reported that Russian forces struck at least two Ukrainian vessels on Tuesday, including a bulk carrier transporting military cargo to the Black Sea, and another vessel in the port Mykolaiv. The statement said that it had also targeted the port itself. The Defence Ministry released a statement that said: "As a result of strikes using hovering munitions or attack drones, infrastructure facilities at the Mykolaiv port transhipment complex?used for delivery and storage of military cargo as well as fuel and oil tanks intended to provide the Ukrainian Armed Forces were damaged." It said that "in addition,...

According to an advisory dated July 29, London's'marine insurance' market has expanded 'the area it deems as high risk' in the Red Sea after attacks by Yemen's Houthi group on ships. However, Egyptian waters have been excluded. The Joint War Committee, made up of members from the London Insurance Company?Market and syndicate members, has a significant influence on insurance premiums. The advisory stated that the?high risk zone has been extended to include more of the coast along the Red Sea, adjacent to Saudi Arabian port cities. It also reaches as close as the Saudi port city of Jizan. The Iran-aligned...

Two people who are familiar with the discussions said that Saudi Arabia is looking to form an international coalition in order to protect ships from Houthi attacks on the Red Sea. Sources said that the composition of the coalition is still being finalised. It's also currently being discussed with dozens of other countries. The Saudi Center for International Communication didn't immediately respond to an inquiry for comment. The Iran-aligned Houthis announced on July 20 that they would impose "a naval blockade" on Saudi Arabia at the Red Sea in response to what they called a Saudi siege against Yemen. Riyadh...

Regional sources familiar with the matter said that Yemen's Houthi militia is considering charging fees to commercial ships navigating through the southern Red Sea a week after announcing a naval blockade against Saudi Arabia. The Iran-aligned Houthis declared a maritime boycott against Saudi Arabia on July 20th, opening up a "new" front against the U.S. Sources said that the Houthis are considering imposing fees for most traffic passing through the Bab el-Mandeb narrow gateway which connects the southern Red Sea to the Gulf of Aden. At this point, no timeframe for implementation was provided. The media office of the Houthis...

After he met with Iraqi Prime Minister Ali al-Zaidi, President Tayyip 'Erdogan' said on Tuesday that Turkey wanted to sign a comprehensive deal for energy cooperation as soon as possible. Erdogan, speaking at a press conference held after a signing event that was expected to include a deal keeping the Kirkuk-Ceyhan oil pipeline open 'for another year', said the state-owned Turkish oil and gas firm TPAO - would operate the Kirkuk oilfield currently used by BP. The deal to extend a decades-old agreement that governs the exports via the?pipeline, and which officially expired on Monday, was not signed by the...

Brookfield, a global investment firm, announced on Monday that it had raised $2 billion in private equity funds from strategic anchor investors including Saudi Arabia’s sovereign wealth fund. The fund will invest in Saudi Arabian companies and other Middle East firms. The Brookfield Middle East Partners fund (BMEP) aims to allocate half of its investments in Saudi Arabia. Brookfield, with a portfolio of?more than 1 trillion dollars, will contribute $500 million. Private equity firms from around the world have increased their investments in the Gulf region in recent years. They are attracted to the proximity of some of the largest...

Iran announced on Monday that it still controlled the Strait of Hormuz, and was not interested in restarting peace talks with the United States after President Donald Trump stopped a two week bombing campaign?that his top brass had told him ran its course. Trump ended the bombing campaign on the weekend after a '13 consecutive nights of intensifying bombardment that provoked Tehran into firing at U.S. base in retaliation. Iran has said that it will halt its attacks as long as there is a pause in the U.S. bombing. Trump's decision was based on advice from his top brass, who...

A tender document released on Monday showed that India's state-owned company Mangalore Refinery & Petrochemicals Ltd is looking to import oil through a spot tender. For the first time, the tender asked suppliers to avoid the Red Sea and Strait of Hormuz. The Houthis of Iran, who want to stop Saudi exports and expand the U.S./Iran conflict, have been disrupting Red Sea traffic off the coast of Yemen for the past week. In a bid document, MRPL stated that "Crude loading/transit through the Red?Sea or SoH must be avoided." The tender sought?upto 1 million barrels on a delivered basis between?August...

Europe faces a winter of alarming fragility in its energy supply as conflicts in the Middle East, Russia and the United States tighten the global markets for heating oil and liquefied gas. According to official statistics, heating oil and natural gas are the two main fuels used in Europe for residential heating. Gas accounts for approximately 30% of heating demand, while oil is responsible for 10%. Both fuel markets are under extreme strain after years of energy shocks. Gas vulnerability in the region is largely a result of the dramatic change in its energy mix that has occurred since Russia's...

Iran will cease its attacks as long the United States also does,?a senior Iranian official said on Sunday. The United States has paused its bombing campaign after President Donald Trump's advisors informed him that they had run out of targets. They also expressed concern about the depletion of the U.S. weapons arsenal. The Pentagon ended the airstrikes against Iran after 13 nights. No U.S. strikes were reported for Saturday or Sunday. Iran has held off its attacks on the neighbouring countries of U.S. bases for two days. It had followed each night's U.S. airstrikes with its own strikes. An anonymous...

Iran's Foreign Ministry condemned on Saturday an attack by Ukraine on a commercial Iranian vessel in the Caspian Sea. It said that a resulting explosion killed one sailor and injured another. Throughout the Ukraine war, Kyiv had to combat drones designed by Iran that were deployed by Moscow. Kyiv offers its drone intercepting expertise to Middle East countries that have been hit by?Iran. Tehran called the attack on the Iranian vessel an act of aggression, and said it would defend national security and interests. It also accused Kyiv of trying to escalate the conflict in Ukraine. The Iranian denial coincided...

Yemen's Houthi militants, who are aligned with Iran, fired on Saudi oil facilities in two ports along the Red Sea Coast on Saturday. However, the U.S. did not launch air strikes against Iran for the first time in two weeks. Washington did not explain why it abruptly stopped a 13-night streak of escalating attacks in retaliation of Iranian attacks on ships in the Strait of Hormuz after an interim agreement to end hostilities failed. Hossein Kirmanpour, spokesperson for the Health Ministry, said on X: "It appears that our dear Iran enjoyed a peaceful sleep last night." No reports were made...

Dmitry Peskov, Kremlin spokesperson, was quoted on Saturday as saying that the suspected Ukrainian attacks on facilities connected to 'Kazakhstan Caspian Pipeline Consortium' amounted "energy terrorism", aimed at Kazakhstan and Russia. Kazakhstan announced on Thursday that it had cut oil production after suspected Ukrainian drone strikes forced the CPC-operated Black Sea export terminal to close. Peskov was quoted by RIA as saying: "This is clear energy (terrorism), this is what they are doing in 'the Black Sea, in 'the Sea of Azov". These are terrorist acts, international terrorist acts, which could be extremely dangerous. RIA reported that he said the...