East Asia

This week, the cost of'shipping' oil in the largest tankers reached record levels following the most intense wave of attacks against shipping since the U.S. - Iran war began late in February. According to Baltic Exchange, the shipping rate for supertankers, also known as very large crude carriers (VLCCs), loading oil in the Gulf of Oman to be shipped to China, reached around 450 on Worldscale, which is?roughly?$11.50 per barrel. The rate is at its highest level since it was introduced earlier this year after the U.S. and Israel war against Iran. The increase in rates is a sign of...

Africa could transform itself as global competition increases for essential minerals. Although the continent has a large amount of energy transition metals like copper, manganese and cobalt but it is still far from its full potential. According to the Brookings Institution, Africa's share of global mineral revenue is only 10%, even though it holds 30% of world reserves. It's possible that there are still more hidden treasures underground. According to CSIS, the U.S. think tank, only 10% of the global mineral exploration was focused on the continent in 2024. As Africa moves to the forefront of the global battle for...

The container ship arrived in Britain on Wednesday, after a 'historic voyage' from China via the Arctic. This is part of plans to encourage more ships to use this route as an alternative to the Suez Canal that could be shorter and safer. The Dubai Tower reached Teesport, off the northeast coast of England on August 15 after arriving from eastern China. The Arctic route, which is significantly faster than freighters that go through the Suez Canal or around the Cape Good Hope, is meant to be a start for a regular container service from Europe via the North Sea...

Indonesia's Finance Minister said that the sovereign wealth fund INA or an agency within his ministry would take control next week of the company operating a $7.3 billion high-speed rail funded by China. Indonesia's first bullet train, covering 142 km (88 miles) from Jakarta to the city of Bandung in 2023. This was eight years after the contract was awarded jointly by Indonesian and Chinese companies. The Belt and Road Initiative, also known as "Whoosh", has faced a number of?problems including ballooning costs. Indonesia and China began talks in 2025 to restructure?project debt. Purbaya Yudhi Sadewa, the Finance Minister of...

Executives and analysts expect Indian steel prices to increase 'further' in the upcoming?weeks due to a pickup in demand for infrastructure?and?automotives following the monsoon. Meanwhile, higher coking coal prices will raise production costs at mills. While higher prices may help mills recover from margins squeezed due to rising coking coal costs but input costs for infrastructure, construction, and auto companies are increasing as demand increases. Government data revealed that mills in India, which is the second largest producer of crude steel after China, reduced prices for products like hot-rolled coils (HRCs) by 280 rupees per metric ton. According to commodities...

North Korea and Russia officially opened their 'first road bridge' on Monday. According to the Russian state news agency TASS, this'structure spans a river called Tumen. Both sides hailed it as a milestone in their strategic relationship. The bridge is near the "Friendship Bridge", an existing rail bridge that was built in 1959, after the Korean War. Direct rail and air links already exist between Moscow and Pyongyang. The Russian Prime Minister, Mikhail Mishustin, said that the bridge would spur development in various spheres between the two nations - including tourism and new jobs. Mishustin was quoted by TASS as...

In a memo, Antofagasta Plc, a miner in Chile, warned that gangs are raiding copper trains across the remote Atacama Desert, becoming more bold and tactically sophisticated. They have breached anti-theft measures which had been effective for years. In a meeting this year, the copper miner and railroad operator raised alarms. Chilean prosecutors claim that some 'thieves' jump from trucks to rail cars, crossing isolated desert stretches. They then throw 80-kilogram copper slabs to waiting gangs and escape into the desert. Other people use hook lines in order to remove entire stacks from slow-moving trains. Copper stolen from illegal scrap...

Indian coastguards and navy carried out search-and rescue operations on Sunday off the eastern coast of India after a Panama flagged?bulk ship?carrying a crew of 24 sank. Two Chinese nationals were rescued. Shyam Jagannathan of India's Maritime Administration told Shyam that the two Chinese seafarers claimed the vessel called Ocean Winner developed a list and sank in eight minutes. This forced the crew to abandon the ship. Jagannathan stated that the chances of finding survivors usually fall after?the initial 12 hours. However, rescuers continued their search. Sarbananda Sonowal said, in a post on social media, that "all agencies are coordinating...

India's Coast Guard &?Navy conducted search and rescue operations on Sunday off the east coast of India after a cargo vessel?flagged by Panama sank with a crew of?24. Two Chinese nationals were rescued. Shyam Jagannathan is the director general of India’s Maritime Administration. He told reporters that two Chinese seafarers were rescued. They said their vessel began to list and sank in eight minutes. This forced crews to abandon ship. Jagannathan stated that the chances of finding survivors usually fall sharply after 12 hour, but rescuers are continuing their search. According to the Indian Coast Guard, 22 crew members are...

On Saturday, a South Korean container vessel set sail?for Europe via arctic in the nation's first commercial trip on the route. The?nation is testing its viability and hopes to turn the southeastern port of Busan into a maritime hub. The PanStar Acro is expected to sail north hugging the eastern Russia's Kamchatka Peninsula, crossing the Bering Sea and taking the Northern Sea Route. It will stop in Felixstowe, Britain, Rotterdam, the Netherlands, and Poland's Gdansk before returning in a trip that should take between 40 and 45 days. President Lee 'Jae Myung made Arctic shipping for South Korea a priority,...

South Korea will flag off a container ship bound to Europe via the Arctic on Saturday, testing if a route made possible by melting sea ice is commercially viable. However, the trip requires Russian cooperation, which could cause friction with Western allies. The 'trip' would be South Korea’s first commercial voyage via the Arctic to Europe, if it is successful. It will join China and Russia as the only countries that have run or tested cargo services on this route. PanStar Acro, which will depart from Busan and sail north, will stop at Felixstowe, Britain, Rotterdam, Netherlands, and Gdansk, Poland,...

CK Hutchison announced on Thursday that it had filed a?international arbitration proceeding against Panama, and sought?damages in excess of $1.5 billion for?the 'destruction' of its investments. CK Hutchison stated that Panama had violated an investment treaty following a series measures taken over the last two years, which culminated in "the destruction of the concession contract for?the ports?of Balboa?and Cristobal?and the takeover of port terminals". The Hong Kong-based conglomerate stated that "the?board strongly disapproves of the measures taken by Panama to violate the?treaty". Conglomerate owned by Hong Kong’s richest man, Li Ka shing, is caught up in a diplomatic spat since...

Gregor Stuart Hunter gives us a look at what the future holds for European and global markets. The summer is officially over. Buckle up! Carry trades are starting to fail as the markets expect a path of rate increases from the Bank of Japan. The?Japanese?currency?traded as much as 1 percent firmer at 152.89. This is its highest since February. Just weeks after it hit a four-decade low, the U.S. government and Japanese authorities intervened to stabilize the currency. The yen was also boosted by data released on Wednesday showing that Japan's economy expanded faster than originally estimated from the previous...

North Korea and Russia opened their first bridge on Monday in a well-choreographed show of friendship. The structure spans the Tumen River and was hailed by both sides as a milestone for their growing strategic partnership. First trucks with flags trundled over the bridge's 1 km (0.6 miles) of two-lanes as Russian Premier Mikhail Mishustin, and North Korea's premier Pak Thae Song watched via video link. They addressed workers and officials from both nations. The construction of the new bridge began in April 2018 after it was decided to build the bridge during the visit by Vladimir Putin in North...

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...

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...

Sinograin, a Chinese company, announced on Friday that it will auction 360,000 metric tonnes of imported soybeans on August 19. Industry experts believe that the state stockpiler is clearing out space for incoming U.S. soyabeans, as evidenced by its fourth sale since July. According to a?notice from the National Grain Trade Centre, a?sale is scheduled for 1:30 pm (0530 GMT) on Wednesday. It will include soybeans produced between 2022 and 2025. After a 'May summit between Donald Trump and Xi Jinping, China agreed to purchase 25 million tons of U.S. soya beans annually until 2028. Two traders in 'Asia' said...

Sinograin, China's state stockpiler, sold 67% of its 501,000 metric tons of soybeans at a second auction held in recent weeks on Wednesday. The company is trying to make space for U.S. cargoes. Sources said that soybeans from the 2022-2025 crop sold on average at a price of 4,013.5 Yuan ($594.84) a ton. Deliveries are scheduled between October and December. Sinograin's?previous Friday auction -- the largest since January -- sold about half?the 504,000 metric tons of imported soybeans?at a price of 4,033 Yuan per ton. Traders have said that they expect the stockpiler state to continue auctions in the next...

Azerbaijan's government expects the freight volume along the "Middle Corridor", a trade route, to rise 17% this year to 5.5 million tons before rising to 7 million tons in 2027. The Trans-Caspian International Transport Route, also known by the name of the corridor, connects China to European countries via Kazakhstan and Azerbaijan. It also passes through Georgia, Turkey, and Georgia. Containers containing clothing, electronics, and other consumer products, as well grain, coal, ore and fertilisers are transported along this route. The corridor, with its annual capacity of over 15 million tons is still a tiny part of the rail traffic...

Sinograin, China's state-owned stockpiler, said it would auction 500,000 metric tons of?imported?soybeans this Friday. This will be the first sale of such a size since January. The market is expecting the state stockpiler free up space to receive U.S. soybeans. According to a notice issued by the National Grain Trade Centre, this sale is scheduled for 1:30 pm (0530 GMT) and will offer 504,000 tons of soybeans that were produced between 2022-2025. The 'auction' is probably to clear storage space in preparation for the purchase of 25 million metric tonnes of U.S. soya beans, said Johnny Xiang of AgRadar Consulting....

These are the most popular stories from the Wall Street Journal. The?has not checked these stories or?cannot?guarantee their accuracy. Databricks, a provider of data analytics, has raised a round of strategic funding valued at $188 billion. The U.S. Food and Drug Administration announced that Taco Bell owned by Yum Brands would stop using shredded iceberg sourced from a supplier that has been linked with a parasitic outbreak causing a severe form of diarrhea and vomiting. Honda Motors will stop?the production?of its Prologue SUV, which is sold?in America?this?year. Honda Motors will not cancel sales immediately, but expects to continue them until...

Exxaro Resources, a South African miner, said Monday that it wants to 'transport more manganese by rail instead of road in order to reduce costs and improve efficiency at its newly-acquired assets. Exxaro CEO Ben Magara stated that the company, along with its competitors, were working together with Transnet, a state-owned firm in freight transport, to increase freight capacity. Transnet is opening up parts of its network for private investment. Exxaro reported that hauling manganese via road costs?37% higher than rail. Exxaro said that logistics costs accounted for 43% for the free-onboard costs of?the bulk minerals. Johan Meyer, Exxaro's head...

South Korean media reported that the industrial action of South Korean truckers tasked with transporting concrete could delay major expansion projects at semiconductor 'plants by SK Hynix and?Samsung Electronics. The National Ready-Mixed Concrete Transport Workers' Union has suspended deliveries throughout the Seoul metropolitan region starting Monday. It said that this work stoppage would affect?around 8,000 members, as they demanded higher rates and other changes. The Chosun Ilbo reported that the participating union members blocked deliveries from?two cement plants in Pyeongtaek on Thursday, stopping the pouring concrete at the site of Samsung Electronics's chip plant. According to South Korea's Newsis, citing...

Three sources familiar with the issue said that?tungsten and rare earths, as well as gallium, were shortlisted for the first joint stockpile of critical minerals to reduce reliance on China. One of the sources, and a third source, said that the EU was also in talks with major ports, including Rotterdam, the largest port in the Netherlands. They are looking at storing the minerals there. This is one of the most concrete measures taken by the EU to protect its economy against Beijing's dominance over the production of critical minerals, which are vital to defence, semiconductors, and energy transition. They...