East Asia

The Indian government said Thursday that it was within its legal rights to revoke Celebi's authorization to provide aviation services at the ground level in Turkey without prior notice, as it concerned national security. Celebi’s clearance was revoked by India last Thursday amid increasing public anger following Turkey's support of Pakistan in the recent India - Pakistan conflict. Indians are also boycotting Turkish products, including jams, chocolates and coffee. Celebi has asked the Delhi High Court to annul the cancellation, claiming it was made without warning and on the basis of "vague and unexplained" "national security" fears. However, Solicitor-General Tushar...

CK Hutchison announced on Thursday that the family-run MSC Mediterranean Shipping Company, owned by Italian billionaire Gianluigi Apponte, is the largest investor in a consortium seeking to purchase 43 ports from a Hong Kong conglomerate. Dominic Lai, Hutchison's co-managing Director, spoke at the annual general meeting of the company after weeks of criticism and scrutiny in China over its proposal to sell a majority of its global ports business worth $22.8 billion to a U.S. investment group led by BlackRock. Lai replied: "Yes. It has been since the beginning." CK Hutchison did not disclose the exact ownership of the investors...

Celebi of Turkey, which is a provider of airport ground handling services in India, has filed a lawsuit against New Delhi for its decision to revoke the clearance. Celebi argues that New Delhi cited "vague" concerns about national security without any reasoning. In the interest of "national security", the Indian government revoked Celebi’s security clearance on Thursday, amid growing anger among Indians over Turkey's position on Pakistan during the India-Pakistan Conflict. Celebi Airport Services India asked the Delhi High Court, in a filing dated May 16, to overturn the decision. The company argued that it would have a negative impact...

Celebi in Turkey, which provides airport ground handling services in India, launched a legal challenge against New Delhi’s decision to revoke its clearance. In a court filing, Celebi argued that the national security concerns cited were "vague". In the interest of "national security", the Indian government revoked Celebi’s security clearance on Thursday, amid growing anger among Indians over Turkey's position on Pakistan during the India-Pakistan Conflict. Celebi Airport Services India asked the Delhi High Court, in a filing dated May 16, to overturn the decision. The company argued that it would have a negative impact on 3,791 jobs, investor confidence...

The chief of the busiest U.S. Port does not expect the imports to surge after the tariff truce last week between Washington and Beijing, which temporarily reduced the duty from 145% to 30%. Gene Seroka is the executive director at the Port Los Angeles, which is also ranked No. In a Monday briefing, Gene Seroka, executive director of the port that is also No. Seroka, a port official, said that reservations for cargo ships heading to the port would see a slight increase in Asia. He said that the rise in tariffs is more likely to be due to importers...

MSCI added two Indian companies, fertiliser maker Coromandel International as well as beauty products retailer Nykaa, to its Global Standard Index earlier on Wednesday. This was part of the index rejig for May 2025. The key global index does not include any Indian stocks. Changes will take effect after the close of markets on May 30. According to IIFL Alternate Research estimates and JM Financial, the inclusion could result in passive inflows of $216-$227 millions into Coromandel. MSCI has also added Coromandel, as well as airport operator GMR Airports to its India domestic index. Sona BLW Precision Forgings was removed....

Simone Tebet, Minister of Planning in Brazil, said that Brazil and China are in discussions to build a railroad connecting the Chinese-built Chancay mega port in Peru with Brazilian regions. Tebet, a local journalist for Carta Capital, said in an interview that "they are very interested in supporting Brazil and crisscrossing Brazil with railways". The Chinese President Xi Jinping was present at the inauguration of deepwater port, which took place in November. Beijing's $1.3 billion Chancay Project is its largest investment in South America, and part of a push to expand trade across the continent. Tebet's team said it met...

Four sources with knowledge of the matter say that President Donald Trump’s administration is evaluating a proposal for the creation of an international shipping registry on the U.S. Virgin Islands, as part efforts to expand the small commercial shipping fleet flying under the American flag. The Trump administration believes that increasing the number of U.S. flagged vessels will help the U.S. Commercial Shipping Fleet to better support the military during wartime and reduce Washington's dependency on foreign ships for transporting supplies and equipment along sea routes. The U.S. flag fleet is currently around 187 ships, and only 80 of them...

Sudan's Army said that its anti-aircraft system intercepted drones on Wednesday, which were targeting a Naval Base in Port Sudan, the capital of wartime. There were explosions heard in the city. It was not immediately known if they were near Flamingo's base. Port Sudan was the target of days of attacks, including drone strikes reported by Sudan's paramilitary Rapid Support Forces. These assaults have destroyed the largest fuel depots in the country and damaged its main humanitarian aid gateway. Since the outbreak of the RSF-Army war in April 2023 that led to mass displacements, famine, and ethnically motivated killings, the...

Calculations based on official sources and data showed that Kazakhstan increased its oil exports from January to March by 7%, to 19.51 million metric tonnes (1.63 millions barrels per day), thanks to an increase in supply via the Caspian Pipeline. The oil output and exports of Kazakhstan, a country that ranks among the top 10 oil producers, are in the spotlight. This is because the Central Asian nation has exceeded the quotas set by the OPEC+ group, which has angered several members, including Saudi Arabia. The Caspian Pipeline Consortium exports oil via the Black Sea from Kazakhstan. Drone attacks have...

China's Guangzhou Port opened a direct shipping route to Chancay Port in Peru on February 2, according to state broadcaster CCTV. The move, it reported, would reduce logistic costs and boost trade with Latin America. Chancay, located north of Lima and offering non-stop trips to Asia, is now open for business. It can accommodate the largest vessels along South America's Pacific Coast. Beijing announced the announcement as it aims to strengthen its relationship with Latin America, a resource-rich region, amid trade tensions between the United States and China. CCTV reported that on Tuesday the 300-metre COSCO Volga vessel was loading...

According to LSEG data and traders, India's purchases of ESPO blend oil from Russia increased in April to their highest level since August 20,24 due to a decline in demand from Chinese companies. ESPO Blend, the flagship grade of light crude oil that Russia exports from Kozmino to Asian markets is most popular with Chinese refiners. Chinese state refiners reduced their purchases of ESPO blend oil in March and April due to sanctions against Russian companies, seasonal maintenance and other factors. This left more barrels for India, the second largest buyer of Russian oil. According to LSEG data and traders,...

Documents seen by us on Friday show that Niger has requested that Chinese employees who are working on oil projects in the country leave. This could impact dozens of people and strain bilateral relations. Niger, like other West African nations, has tried to gain greater control over natural resources while promoting local employment. Two letters show that the Oil Minister Sahabi Oumarou asked the China National Petroleum Corporation and its refinery SORAZ, to terminate the contracts with expatriates working in Niger since more than four years. In a May 21 letter to SORAZ, Oumarou said that there would be flexibility....

China's increasing natural gas production and pipeline supply is slowing down its liquefied gas imports in this year. This has capped prices in the area, but executives in the industry expect LNG demand to grow from the industrial and power sectors in China in the future. Customs data revealed that imports to the top LNG-importing country in the world fell to 20 millions metric tons over the first four month of this year. This is down from almost 29 million tons for the same period last year. The mild weather conditions and the buyer's resistance to higher prices were the...

If there's a law of unintended effects, then the commodity markets are adapting to the reality and perceived threats of Donald Trump's tariff war. Trump's trade measures and tariffs have forced commodity producers, buyers, and traders to rethink long-established relations, adapt to new realities, and predict what could happen. It is clear that the commodity markets are adapting not only to the actual measures taken by the Trump Administration, but also the potential future actions. This has led to a desire to reduce exposure to the United States. One example is the seaborne crude oil exports from Canada that have...

If there's a law of unintended effects, a good example would be how the commodity markets have adjusted to the reality and perceived threat of the tariff war started by U.S. president Donald Trump. Trump's trade measures and tariffs have forced commodity producers, buyers, and traders to rethink long-established relations, adapt to new realities, and predict what could happen. It is clear that the commodity markets are adapting not only to the actual measures taken by the Trump Administration, but also the potential future actions. This has led to a desire to reduce exposure to the United States. One example...

After an incident on its operations, the Nigerian oil company Renaissance Energy said it had halted the production of crude oil into the Trans Niger pipeline. This is a major oil route that transports crude oil from the onshore oilfields in Nigeria to the Bonny oil export terminal. A group of environmental rights activists said that on Thursday, the pipeline ruptured on May 6, spilling oil into B-Dere Community in Ogoniland. This is the second incident in which the pipeline has been affected in the past two months. Michael Adande said that Renaissance Group Nigeria, the Nigerian oil group which...

Ship tracking data revealed that China is the largest customer of Canadian oil transported on the expanded Trans Mountain Pipeline. This shift in crude flow has been caused by the U.S. Trade War, which has affected the flow of crude since the pipeline began operating. China's renewed interest in Canadian crude oil coincides with President Donald Trump’s trade war, which has caused tensions between Washington and Ottawa. The price of Canadian oil also reflects U.S. sanctions against crudes from Venezuela and Russia. Canada's main oil producing province, Alberta, is landlocked and has limited access to ports on the tidewater. The...

Three traders reported that the freight rates for ESPO blend crude shipped from Russia's port of Kozmino into China in April fell to their lowest level since mid-January due to increased availability of tankers. The lower rates will mean that Russian exporters spend less money on freight and get more oil for their money. The freight rates for the route are now around $2-3 million per cargo for April loadings, down from $4-5 million in February and March. This is because more non-sanctioned tanks have entered the ESPO marketplace. Calculations based on data from three trading sources revealed that the...

A source familiar with this matter told Reuters on Thursday that the energy security council of U.S. president Donald Trump plans to hold a summit in Alaska early in June. It hopes Japan and South Korea announce their commitments to the Alaska LNG Project. Trump has praised the $44 billion Alaska LNG project. This project would send gas from North Slope fields in Alaska via a pipeline of 800 miles (1,300 km), for domestic use, and then ship it as LNG to customers in Asia, bypassing Panama Canal. The project has been discussed for many years but has not progressed...

A source familiar with this matter told Reuters on Thursday that the energy security council of President Donald Trump plans to hold a summit in Alaska early in June. It hopes Japanese and South Korean representatives will announce their commitments to the Alaska LNG Project. Trump has praised the $44 billion Alaska LNG project. This project would send gas from North Slope fields in Alaska via an 800-mile pipeline (1,300 km), for domestic use, and then ship it as LNG to customers in Asia, bypassing Panama Canal. The project has been discussed for many years but has not progressed due...

Sources in the trade and industry said that oil exports from Russia's western port are expected to increase this month due to lower crude production at Russian oil plants. However, the OPEC+ production limits may only have a small impact on Moscow’s export plans. The port of Primorsk may increase its daily loadings to an average of 2.0-2.1 million barrels next month, up from the 1.9 million barrels planned for April. Calculations showed that this is an increase of 5-10% per day. On account of low margins, refinery runs could fall by 80,000 to 100,000 barrels per a day. The...

China's capital, Beijing, hunkered in on Saturday after rare typhoons-like gales hit northern regions. The storms forced the closure of historical sites and disrupted travel. They also brought late snowfalls as well as hailstone showers to some areas. Wind gusts shook windows and cars, driven by a cold front from Mongolia. The vortex dropped temperatures by more than 12 degrees Celsius. The official Xinhua News Agency said that the winds will continue to blow over the weekend with gusts up to 150 kph. The winds brought hailstones to southern China and late snowfalls to Inner Mongolia. Beijing has issued its...

On Friday, the Panama Canal Authority announced that it had authorized the bidding for a new pipeline to transport liquefied gas (LPG), across the interoceanic watersway. The planning for projects to increase the capacity of the trans-shipment and storing of goods has increased since the Panama Supreme Court ruled last year that areas near the Canal should be returned to the Panamanian administration. The pipeline will allow LPG vessels discharge at one end while other tankers pick up cargo at the opposite end. This will reduce the traffic of vessels on the waterway. Japan's purchase The project will help to...