East Asia

New York Times Business News - July 23,

These are the 'top stories' from?the New York Times?business?pages. The?New York Times has not verified the accuracy of these stories. The Florida teenager who sued Meta for claiming that the company's social media apps caused his depression and anxiety dropped his lawsuit. Sony Pictures Entertainment announced that it will reopen the Cinerama Dome, Hollywood by 2028 after a renovation. This was in response to a growing demand from younger audiences for premium movie experiences. Three U.S. Airports are the first to adopt the new "private screening" model of the Transportation Security Administration, despite the staunch opposition from the union representing
Passenger Transportation Services

Wall Street Journal, July 23,
Data shows that more ships are changing course in the Red Sea following Houthi threats

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
LNG Transportation

Bousso: The electrification of Europe's ROI will be a decade-long struggle.
China's flood season is in full swing, and extreme rainfall has already begun to threaten the north

Weather experts say that China is now in its peak flood-control period. Extreme rainfall will increase from late July until early August, and much of northern China may experience up to 50% more rain than normal. The rising temperatures in the country are moving the rain belt to the west and north, increasing the humid and semi-humid zones. This increases the risk of secondary catastrophes. Climate change is not a problem for China in the future - it has already begun, said Xuebin Zhang. He's a professor from the University of Victoria (Canada) and the director of the Pacific Climate
Transportation

Enagas, a Spanish company, buys Saggas' stake and says that it is on target to reach its 2026 goals

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.
Bousso: The electrification of Europe's ROI will be a decade-long struggle.

LNG Transportation

Bousso: The oil fortress of China will change the global order.

China surprised the oil industry during the Iran War, using powerful levers in order to protect itself from the "biggest shock" in energy for decades. It established itself as an independent, opaque and massive force on the global energy market. China's?measures to counter the energy supply shock - slashing crude imports, limiting exports of refined petroleum products and drawing from domestic stocks - culminated in decades long campaign to reduce heavy?dependence upon overseas energy supplies. This gives a hint at how future crises could unfold. China's assertive strategy may be a sign of a future where blind spots in the...

LNG Transportation

Bousso: The oil fortress of China will change the global order.

China surprised the oil industry during the Iran War, using powerful levers in order to protect itself from the largest energy shock for decades. It established itself as an independent, opaque and massive force on the global energy market. China's efforts to counter the "energy supply shock" -- a sharp cut in crude imports, a restriction on exports of refined fuels, and a reliance on its domestic stocks -- culminated ten years of campaigning to reduce China's heavy reliance on foreign energy supplies. This gives a glimpse of how future crises might unfold. China's assertive policy, despite the lack of...

LNG Transportation

ROI-Putin's diesel export ban risks new fuel shock: Bousso

The looming Russian ban on diesel exports could not have come at a worse time. After the largest energy shock in decades and a dangerously low global fuel inventory, another supply cut could threaten to undermine a fragile recovery. Russian President Vladimir Putin announced on Sunday that the Kremlin is considering a ban of diesel exports, after acknowledging the mounting shortages in Russia. These shortages were triggered by Ukrainian drone attacks on Russian refineries as part of Kyiv's expanding energy campaign against Moscow during the fifth year the Ukraine war. Fuel is the mainstay of global economy, powering everything from...

LNG Transportation

Joachim Klement: The next Iran war could be closer than you think.

The Iran war is over, but many people may mistake a pre-election break for peace. Tehran's economic leverage will remain strong until the U.S. midterm election in November but may weaken after the results are announced, increasing the risk of renewed confrontation. How can the rest of the globe avoid being collateral damage in this new dangerous environment? It is unclear whether the 60-day negotiations between the U.S. The most important thing for the markets is the fact that the interim agreement has restored the energy flow through the Strait of Hormuz. This was the crucial energy chokepoint which had...

LNG Transportation

ROI-Putin's diesel export ban risks new fuel shock: Bousso

A looming Russian diesel export ban could not come at a worse time. Fuel inventories around the world are at a dangerously low level, and another supply shock could undermine a fragile economic recovery. Russian President Vladimir Putin said on Sunday the Kremlin is considering a diesel export ban after recognizing mounting domestic shortages. These shortages were caused by Ukrainian drone attacks on Russian refineries as part of Kyiv’s wider energy campaign against Moscow in the fifth year the Ukraine War. Fuels with high energy density are used to power heavy transport, agriculture, industry, and construction equipment, from trucks and...

LNG Transportation

Bousso: The exodus of oil from the Hormuz region sets up a chaotic rebalancing.

The price of crude oil may have returned to levels seen prior to the Iran War, but the surge of?oil exported from the Middle East after the reopening of Strait of Hormuz has created a market chaos that could take several months to settle. Brent crude prices have fallen steeply to levels seen before the Iran war, around $73 per barrel, following the U.S./Iran interim agreement. At first glance, this might suggest that business is back to normal in the world's largest oil and gas hub. The conflict had effectively paralyzed the narrow?waterway that once carried a fifth or more...

LNG Transportation

Bousso: The exodus of oil from the Hormuz region sets up a chaotic rebalancing.

The price of crude oil may have returned to levels seen prior to the Iran War, but the influx of oil from the Middle East after the reopening of?the Strait of Hormuz has created a market chaos that could last for months. Brent crude prices have plummeted to levels seen before the Iran war, around $73 per barrel, following the U.S. and Iran interim agreement. This might make it appear that business is back to normal in the world's largest oil and gas hub. The conflict had effectively paralysed the narrow waterway that once carried a 'fifth' of global oil...

LNG Transportation

Bousso: The exodus of oil from the Hormuz region sets up a chaotic rebalancing.

ROI-Hormuz oil shock echoes 1973 embargo lessons: Bousso

The Strait of Hormuz is now open to oil and gas, but the 100-day closure of this vital waterway could be the turning point in the global energy market. Arab oil embargo 1973, which was a similar supply shock, provides clues as to where we may be heading. The latest Middle East Crisis tested the limits of the modern energy system. It has evolved in recent decades to a highly connected global market, held together by thousands trading houses, complex pricing systems, and thousands of tankers. The system was remarkably flexible during the U.S. and Israeli war against Iran that...

ROI-Hormuz oil shock echoes 1973 embargo lessons: Bousso

Oil and gas have now resumed flowing through the Strait of Hormuz. However, the closing of this vital waterway for more than 100 days may prove to be an important turning point on the global energy market. A similar supply shock in 1973, the Arab "oil embargo", offers clues as to where we may be heading. The latest Middle East Crisis tested the limits on the modern energy system. It has evolved over the past decades into an interconnected global market, held together by thousands trading houses, complex pricing systems, and thousands of tankers. The system was remarkably flexible during...

Additional oil tankers leaving Hormuz will add to global supply

Shipping data shows that three stranded oil tankers, each carrying 5 million barrels of crude oil, left the Strait of Hormuz Wednesday. Two of them were headed to Asia. The interim agreement between Iran and the U.S. has released more supply?stuck?in the Gulf, which is bringing down?global?prices. Data from LSEG & Kpler revealed that the VL Breeze (flagged South Korean) is a Very Large Carrier, carrying 2,000,000 barrels of Qatari Condensate & Abu Dhabi Crude. It has passed through the strait on its way to Daesan. The supertanker was chartered by South Korean refiner Hyundai Oilbank. The data revealed that...

Sources: China plans to build a second LNG terminal in China for Russian cargoes sanctioned by the United States

Three sources familiar with the situation said that China is building a second terminal to import liquefied natural gas from Russia's Arctic LNG 2 project. This will expand a route which has relied on only one facility so far. Sources say that the newly constructed Longkou LNG Terminal in eastern China's Shandong Province, operated by state pipeline company PipeChina, will be receiving Arctic LNG 2 cargoes. The move will provide a lifeline for the $21 billion project that is currently under sanctions. It will also help Moscow, as its gas exports have been affected by Europe's decision not to purchase...

Bousso: The quest of ROI-Gulf Exporters to bypass Hormuz is reshaping the region.

Middle East oil producers will have to face the consequences. The Iran War exposed the dangers of relying solely on one chokepoint to export vital oil and natural gas. Gulf governments were left with a clear strategy imperative: diversify at all costs. A blockade of Strait of Hormuz by Iran was long viewed as an "event of doomsday". It would never occur. Experts believed it would take a massive military effort, and Tehran would not be willing to choke off its own exports. These assumptions proved to be wildly wrong. Iran used cheap drones, small vessels, and mines to impose...

Transport Infrastructure

You want to build a metal smelter of your own? Andy Home

The race to secure the critical minerals is opening up new opportunities for countries that have the fortune to possess the right deposits. The goal is to extract as much value from the metal?riches' in the earth as possible. The obvious answer is to process the ore. Smelters that convert ore to metal are not only more valuable, but also offer a path to economic and industrial development. It's a way for Western policymakers to loosen China's grip over midstream capacity in many critical metals. According to a joint study by the consultancy CRU, and the World Bank, the number...

Transport Infrastructure

Taiwan's migrating Crab population returns thanks to safer road crossings

Bamboo bridges and road?closures helped protect Taiwan's biggest terrestrial crab species when they returned to the sea during breeding season. Taijiang National Park, located in southern Taiwan's city of Tainan, is home to the largest number of mangrove land crabs on the island. During the breeding season from July to September, female crabs descend to 'the sea' to release their eggs. However, because their migration route crosses roads, they are vulnerable to being hit by cars. Taijiang National Park 'Director Chen Junshan said that the road closures, bamboo bridges and other measures have reduced roadkill -and helped increase crab numbers...

Transport Infrastructure

Minister: Georgia will take full responsibility for the development of a major Black Sea deep water port

Georgia's economy minister announced on Monday that the country will be taking over full development of the country's first deep water port on the Black Sea. This is the first definite indication that the Chinese-Singaporean consortium has pulled out of the project. Anaklia Deep Sea Port, originally planned as an important infrastructure link connecting Asia with Europe a decade earlier, has been plagued by delays since the Georgian Government in 2020 canceled a contract awarded to a Western-led group?to build it. The port will be the most ambitious infrastructure project in the country to date. It aims to handle approximately...

Transport Infrastructure

Sources: Iran explores oil sales to Japan; buyers want longer sanctions waiver

Three Iranian and Western sources confirmed that Iran has started 'talks' to sell oil to Japanese companies, but 'potential buyers' are requesting a longer U.S. sanction waiver and assurances about safe shipping conditions in Gulf. In June, the United States authorised Iranian oil exports. This was a significant step in easing decades-old sanctions and paving the way for a final peace agreement with Tehran. The deal would be in exchange for nuclear inspections?and freedom of movement through?the Strait of Hormuz?. China has been the largest buyer of Iranian oil over the past few years, after South Korea, Japan and Europe...

Transport Infrastructure

Sources say that MBK Actis and Bain are bidding for KKR Central Tank Terminal.

MBK Partners Actis and Bain Capital are among the bidders of KKR's Central Tank Terminal - a Japanese liquid storing company. The deal could be worth over $600,000,000 including debt. One of the sources said that binding bids must be submitted by August. Sources spoke under condition of anonymity as the matter is private. KKR Capital and Bain Capital declined comment. Actis stated that it does not comment on speculation about deals. MBK or Central Tank Terminal didn't immediately?response to a comment request. Central Tank Terminal stores and?handles liquid goods, including oil products, chemicals and other cargoes, near major Japanese...

Transport Infrastructure

RPT-LME is considering easing rules in order to promote Hong Kong as a metals hub

Four industry sources have said that the London Metal Exchange may ease rules to boost Hong Kong's status as a "metals location", including allowing aluminium storage outside. This is in line with China's "drive" for greater influence on global metals markets. Hong Kong was designated as an LME warehouse in July 2025. However, very little metal has actually been deposited since then. Two sources claimed that HKEx executives asked warehouse companies to remove any barriers in order to make Hong Kong a viable storage location. In a consultation paper published in March, the 149-year old LME suggested outside storage for...

Transport Infrastructure

LME looks at easing rules for Hong Kong to become a metals hub

Four industry sources have said that the London Metal Exchange is looking at easing its rules to promote Hong Kong as a "metals location". This is in response to China's desire for greater control over global metals markets. Hong Kong became an LME warehouse in July 2025. However, very little metal was deposited since then. Two sources claimed that HKEx executives asked warehouse companies to remove any barriers in order to make Hong Kong a viable storage location. In a consultation paper published in March, the 149-year old LME suggested outside storage for aluminum "on a site-by-site basis". Four sources...

Transport Infrastructure

Taiwan and Japan are affected by torrential rains caused by a passing storm

Tropical storms passing through Taiwan caused torrential?rains? that shut down southern Taiwan, forcing more than 5,000,000 people to miss work or school. Japan also issued flood and landslide alerts. The outer bands of Typhoon Mekkhala - now a tropical storm - are bringing heavy rains to some parts of Taiwan. This is especially true in Kaohsiung and Tainan in the south. On Friday, the governments of three Taiwanese regions with more than five million residents ordered all offices and schools to close. Flooding in Tainan caused a section of main north-south rail line to be closed. Japan also experienced heavy...

Transport Infrastructure

Southern Taiwan rail line and southern Taiwan shut down by torrential rain caused by a passing typhoon

A typhoon passing through southern Taiwan caused torrential rains, forcing more than 5 million people to miss work or school. Flooding also cut off a section of the main rail line. While Typhoon Mekkhala is currently over the Ryukyu islands in southern Japan, it did not directly landfall on Taiwan. However, its outer bands brought heavy rains to some parts of the island. All three governments, where more than 5 million people reside, have ordered that offices and schools be closed on Friday. The separate high-speed rail line did not report any problems, but a section of Tainan's main north-south...

Transport Infrastructure

No tsunami warning following M6.9 earthquake in Japan's northeast

The Japan Meteorological Agency announced on Thursday that no tsunami warning had been issued following an earthquake of magnitude?6.9 which struck the east coast of Japan's northeastern Tohoku area. The agency stated that the epicentre was located off the coast of Iwate Prefecture at a depth of 50km. No tsunami damage is expected except for "slight changes in sea level". It said that the earthquake in Aomori had an intensity of 6+, which is a situation where "it's impossible to stand or move without crawling" on a Japanese scale from 0-7. Tohoku Electric Power has said that no irregularities have...

Transport Infrastructure

Andy Home: The ROI-Congo pivots to the west under the cover of cobalt control

The ambitions of the Democratic Republic of Congo in cobalt are?becoming more and more clear. Export restrictions have been used by the world's biggest producer of strategic metals, which are used in everything from stealth bombers to mobile phones, to reduce excesses and raise prices. Kinshasa is trying to shift its focus away from Chinese operators and towards the United States, as it gains more control of its cobalt industry. This rebalancing is accompanied by a renewed effort to integrate the artisanal and smaller-scale mining sector (ASM), a minefield of ethical issues for Western cobalt purchasers, into official sectors. MOVING...

Transport Infrastructure

UN agency reports that ships have begun sailing through Hormuz as part of the UN evacuation scheme

A spokesperson announced on Wednesday that ships have started sailing through the 'Strait of Hormuz' under a new scheme by the U.N.'s shipping agency in order to evacuate vessels trapped there by the conflict. International Maritime Organization announced on Tuesday that the initiative, which took months to complete, would allow hundreds of ships and 11,000 seafarers stranded at the Gulf of Mexico to pass through Hormuz. A spokesperson for the IMO said that "ships have already started to pass under this plan", refusing to give any details about the vessels that have crossed. LSEG ship-tracking data showed that at least...

Passenger Marine Transportation

Hormuz traffic drops to a two-month low after renewed US and Iran strikes raise safety risks

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...

Passenger Marine Transportation

Four oil and gas tanks turn back after vessel attacks from the Hormuz Strait

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...

Passenger Marine Transportation

After an attack on a ship, traffic through the Strait of Hormuz is slowed

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...

Passenger Transportation Services

Taiwan evacuates thousands as Typhoon Bavi hits Japan's southern islands

On Saturday, Typhoon Bavi pounded?Japan’s?southern Sakishima Island chain with heavy rainfall and violent winds as it headed toward Taiwan. Authorities warned of the dangers of flooding and landslides. Ishigaki Island, a part of Okinawa Prefecture, was strewn with debris, and only a few vehicles braved the rain and gale. The strong currents in a harbour were caused by the storm's strong winds, which reached a maximum sustained speed of 144 km/h (90mph) near the centre. Authorities warned of gusts up to 198 km/h. All Saturday, flights and ferry services in Ishigaki - a popular tourist spot - were suspended. More...

Wall Street closes higher as investors look to earnings season

S&P 500 ended 'just short of a new record high' on Friday as a Nasdaq debut? by South Korea’s SK Hynix fueled optimism for memory-chip makers. Investors also looked forward to the quarterly earnings season, which begins next week. Artificial intelligence is back in the spotlight following SK Hynix's $170 opening price, which was 14% higher than its initial offering price. The semiconductor company raised more than $26 billion by selling American depositary receipts at $149 per piece on Thursday. U.S. stocks increased after U.S. president Donald Trump stated that Iran asked for continued talks, and the U.S. agreed. The...

Wall St. slightly higher after SK Hynix's impressive debut limits losses in chips stocks

S&P 500 climbed to a new record high on Friday as a 'blockbuster Nasdaq debut by South Korean chipmaker SK Hynix fueled optimism for semiconductor?stocks. Investors also looked forward to the quarterly earnings season, which begins next week. Artificial intelligence is back in the spotlight following SK Hynix's $170 opening price, which was 14% higher than its initial offering price. This high-profile U.S. IPO brought artificial intelligence to a new level. Memory-chip maker raised $26.5 billion by selling American depositary receipts at $149 per piece on Thursday. U.S. stock prices increased after U.S. president Donald Trump stated that Iran asked...

RPT-Wall St. flat as SK Hynix debut's stellar performance limits losses in chip stock

Wall Street's major indexes traded in choppy trade on?Friday as SK Hynix, a?South Korean semiconductor company made a blockbuster Nasdaq debut. This helped to cap losses in a tumultuous stock market. Artificial intelligence is back in the spotlight following SK Hynix's $170 opening price, which was 14% higher than its initial offering price. This high-profile U.S. IPO brought artificial intelligence to a new level. Memory-chip maker SK Hynix raised $26.5 billion by selling American depositary receipts at $149 per piece on Thursday. The stock isn't soaring because this isn’t an IPO. This is a secondary offer of a publicly traded...

Wall St flattens as SK Hynix debut's stellar performance limits losses in chip stock

Wall Street's major indexes fluctuated little in Friday's choppy trade, with the Nasdaq debut by SK Hynix of South Korea. This capped a week that saw chip stocks sway at the end. Artificial intelligence is back in the spotlight following SK Hynix's $170 opening price, which was 14% higher than its initial offering price. This high-profile U.S. listing brought artificial intelligence to the forefront. Memory-chip maker SK Hynix raised $26.5 billion by selling American depositary receipts at $149 per piece on Thursday. The stock is not advancing because this is not an IPO. This is a secondary offer of a...

Wall St. steadies before South Korean chip behemoth SK Hynix debut

Wall Street indexes remained steady on Friday as investors awaited SK Hynix's highly anticipated Nasdaq debut, shifting their focus away from the recent escalation of the Middle East conflict. The AI market takes centre stage as SK Hynix prepares to list in the U.S. This offering will be the largest share sale in history after SpaceX's record breaking IPO last week. The chipmaker raised $26.5 billion by selling American Depositary Receipts at $149 each on Thursday. ADRs of the company are expected to open at $176.01 - about 18% higher than their offer price. We've heard it's oversubscribed (SK Hynix),...

Passenger Ground & Sea Transportation

Traders say that the price of Middle East oil rivals has risen as China's teapots have turned to Middle East supplies.

Iranian oil at sea is rising as Tehran increased exports in the interim peace agreement with the United States. However, sales are slow because China's independent refining companies have switched to cheaper crudes from Iraq, UAE, and Qatar. This week, the return of U.S. sanctions could leave Tehran with a surplus of cargoes that are looking for buyers. This week's sanctions could leave Tehran with more cargoes looking for buyers, just as shipments from?Asia arrive. In recent weeks, independent Chinese oil refiners in the eastern oil hub Shandong (also known as teapots) bought between 16 and 20.5 million barrels from...