East Asia

The sultanate’s?state media agency? reported on Monday that weather conditions and operational difficulties were hindering salvage efforts of a grounded tanker leaking Russian crude in a marine protected area off Oman’s coast. Oman is coordinating the?salvage?operation with Ambrey, a risk management company. This is part of Oman's efforts to limit environmental damage caused by a spill estimated at 2,000 square kilometers. Environment agency of the government gave an official estimation of 400 sq km in August but has not yet issued an update. The Caroline Bezengi spill, which is the apparent result of an?unknown attack on the tanker in June,...

Three industry sources have confirmed that a drone attack on August 14 'damaged' the complex for processing gas condensate at the Baltic port of Ust-Luga, owned by Russian gas producer Novatek. Novatek didn't respond to an immediate?request for comments. Two sources confirmed that the drone attack had no impact on oil export operations at the terminal in?Ust-Luga. Ust-Luga, one of Russia's most important?oil-export terminals, loads about 700,000 barrels?of crude per day. Alexander Drozdenko, the Leningrad Region Governor, said earlier on Friday that a drone had caused a fire in the Ust-Luga Port. Drone attacks have repeatedly targeted Ust-Luga’s port infrastructure...

Record?rainfall? left thousands of travellers at Tokyo's Narita Airport on Friday, as flooding in the area disrupted transportation and knocked out electricity to homes. At least four people died. In Chiba Prefecture, which is adjacent to?the capital Tokyo and flooded roads and trains during the busiest week of the year, more than 360 millimetres fell in just 24 hours. Four?deaths? have been confirmed by authorities, one of whom is trapped in a submerged car, and another is missing. Soldiers were dispatched in the area to assist with relief efforts. Toshihito kumagai, Chiba governor, told reporters Friday morning that the case...

On Thursday morning, thousands of passengers were stranded in Tokyo's Narita Airport due to record rainfall. Flooding in the area had disrupted travel and knocked out electricity for homes. At least four people died. In Chiba Prefecture, near the capital Tokyo, more than 360 millimetres rained in just 24 hours, flooding roads and railways, and knocking out electricity to nearly 25,000 homes during one of Japan's most busy holiday weeks. The authorities have confirmed four deaths so far, including one trapped in a submerged vehicle. Soldiers were 'dispatched to assist with relief efforts. Toshihito Kumagai, Chiba governor, told reporters Thursday...

?CK Hutchison said that its cargo traffic and 'port earnings were?affected by a halt in operations in Panama. It also added that there had been little progress on a sale of the majority of its ports businesses for $23 billion. Li Ka-shing's conglomerate, owned by Hong Kong’s richest man, Li Ka, is embroiled in a diplomatic dispute since U.S. president Donald Trump objected to Chinese control of ports on the Panama Canal. This was followed by the cancellation by Panama of the concessions it had in the country. CK Hutchison’s ports division reported a 1% decline?in throughput. However, earnings before...

The U.N. shipping agency reported on Wednesday that oil from a large slick of oil leaking from the tanker Caroline 'Bezengi has reached 'Oman's' mainland. Oil is drifting off to the northeast (of Oman's Al-Qibliyyah Island), with reports that some oil has reached the mainland. A spokesperson for the IMO said that oil spill contingency planning is already in place. The government of 'Oman said that the slick from a nature preserve in the country has covered 'almost 400 square kilometers. The tanker, which was carrying 800,000 barrels from Russia to Asia, grounded on the coast of Oman around 22...

A regulatory filing revealed that the shipping giant MSC 'and the buyout fund BlackRock retracted their request to the European Union’s?antitrust regulator to approve their -plan to -buy the Barcelona port terminal, owned by CK Hutchison. Last December, the EU Commission, the EU's competition enforcer, launched a full-scale investigation on the grounds that the deal could lead to higher prices and a reduction in the quality of container terminal services. In the deal, Terminal Investment Limited Holding (TiL), a subsidiary of MSC Mediterranean Shipping Company based in Switzerland, and BlackRock would acquire joint control over Hutchison’s terminal at Barcelona Port....

Three shipping sources reported that India's Reliance Industries paid between $23 and $25 million for a charter of a "supertanker" to lift Iraqi crude. This is due to the limited number of ships in the Gulf, as well as the high cost of each voyage. Shipping traffic through the Strait of Hormuz is well below the average of between 125 and 140 vessels per day before the Iran War began in February. This puts further pressure on buyers who are trying to move their cargoes. Reliance, operator of the largest refining facility in the world, located in India's western state?Gujarat...

Five industry sources familiar with the matter have confirmed that China has eased its limits on refined fuel exports in August for a second time. Refiners were given temporary approval to ship 2.7 millions metric tons of fuel to destinations other than Hong Kong and Macau. Due to the short timeframe for spot sales, refiners can also rollover some of their August allowances into September. The August 'programme' is expected to be 3.6 million tonnes, including shipments to Hong Kong as well as jet fuel refuelling at Chinese airports for international flights. Estimates say that the total amount of jet...

The 'China Industry Ministry' announced on Tuesday that the country has issued mandatory safety standards for vehicles equipped with highly automated or conditional driving systems. According to the new rules that will take effect July 1, 2027 an automated 'driving system' must reach a level of safety that is at least equal to a human driver who is qualified and attentive to the driving task. According to a statement from the ministry, the system must not pose unreasonable risks to road users or vehicle occupants. The standard does not apply to automated parking systems and only applies to vehicles with...

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...

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...

Grid gridlock could stall the renewable energy transition * Many green energy plants cannot connect to an overloaded grid * Government plans major grid expansion over next decade By Kate Bartlett The President Cyril Ramaphosa launched the latest green energy projects last month. He called it part of a "clean-energy revolution" and a 155 megawatt wind farm located in Mpumalanga Province. He said that "electricity which is reliable, affordable and becoming increasingly clean is the 'lifeblood' of a growing economic system." South Africa plans to add 105 Gigawatts to its grid by 2039. This will include nuclear, wind, and solar...

Open Interest (ROI), every Friday, distills the previous five days' financial week into five charts that highlight the most important trends, surprises, and overlooked moves. 1. HORMUZ REALISTIC CHECK CLYDE RUSSEL, 'ROI Asia Commodities and Energy'?Columnist : Middle East crude exports, including?flows across the Strait of Hormuz?, have been depressed this summer, say commodity analysts Kpler. The data is in line with other vessel tracking companies but it stands in stark contrast to the claims made by U.S. Energy Sec. Chris Wright this week that 15 million barrels of crude oil per day were leaving the region. This includes 9...

China's crude?imports dropped 24.3% on an annual basis in July, but jumped?from a near-decade low in June, according to?data released by customs on Friday. This was due to cheaper barrels purchased after the Strait of Hormuz briefly reopened in June. China imported 8.41 million barrels of crude oil per day in July, up 22% compared to June when imports were at their lowest since October 2016. This was due to weak domestic demand and export restrictions on refined oil products for energy security because of the Iran War. Ye Lin, vice-president at Rystad, explained that the increase was due to...

Three?sources, citing data on shipping and trading, said that Russia's oil imports from western ports will fall in July due to repeated Ukrainian attacks?in the Black Sea. According to sources and calculations, the exports of 'Urals', 'KEBCO, and Siberian Light Crude from Russia’s Baltic ports Primorsk, Ust-Luga, and the Black Sea Port of Novorossiysk will total around 2.6 million barrels a day in July, down about 4 percent from June. As it struggles to maintain its crude output, Russia has tried to keep exports near records. However, refinery runs are still affected by the repeated drone attacks from Ukraine on...

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...

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...

Enagas, the Spanish gas grid operator, announced on Wednesday that it had agreed to purchase a 20% stake from 'Osaka Gas in eastern Spain's 'Saggas' regasification plant. It also reported first-half earnings, which it claimed kept it on track to meet its 2026 forecasts. The company announced that it would pay EUR31,000,000 ($35,000,000) for a stake in the Sagunto plant, located in the Valencia region. This plant has a storage capacity of 600,000.000 cubic meters and a regasification capability of 1.1 million normal cubic metres an hour. This is equal to 18% of Spain's total and 15% of its total....

UOB Private Bank (the wealth management arm of United Overseas Bank in Singapore) has appointed Judy Chan as managing director for Hong Kong. This appointment will take effect July 2026. The following is more information about the statement: Chan will report to Chew Mun Yew as the head of private banking for the group. She will oversee the local private banking team and lead the bank's work in Hong Kong with wealthy clients. Chan has over 30 years' experience in private and commercial banking. She has been in senior positions?managing teams, growing business?in key markets and advising on wealth planning...

China imported 11.5 million barrels per day on average in the past five years. Since April, the average has been just 8 million barrels per day. China's rapid slashing of imports - shipments dropped to 40% below pre-Iran War levels in June - has helped keep a lid on global prices, and has freed up cargoes that could be used by other countries. Market observers want to know if the decline in demand will last. Michal Meidan is the head of China Energy Research for the Oxford Institute for Energy Studies. "There is a huge level of uncertainty, because we...

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...

A Moscow car dealer is struggling to meet the 'demand' for new electric vehicles imported from China, as drivers try to avoid a fuel shortage that has caused long queues and skyrocketing prices in much of Russia. In recent weeks, the escalating Ukrainian attacks on Russian energy infrastructure has caused gasoline and diesel to be restricted in many regions. According to calculations, retail gasoline prices have reached some of the highest levels ever recorded in Europe. The Russian EV market has been slowed by the harsh climate and distances in Russia. Some motorists are switching to EVs because of the...

According to a government directive, India has permitted 'four Chinese manufacturers of power equipment with factories in the country' to participate in governmental tenders for critical 'power projects. The order from the Indian Ministry of Finance, dated June 24, and reviewed by said, allows TBEA Energy to participate in tenders. The document stated that India's Power Ministry?had requested the exemption in January of entities with manufacturing units located in India involved in critical energy projects. In January, it was reported that India is looking at a broader relaxation of the rules for Chinese bidders to win government contracts. New Delhi...