Latest News
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UKMTO: Crew safe after explosion reported near Kuwait
The United Kingdom Maritime Trade Operations said that a tanker anchored off Kuwait saw a large explosion on its port side and was taking in water. UKMTO reported that the master saw a'small craft' leaving the area after the explosion, which took place 30 nautical miles (56 km) southeast of Kuwait Mubarak al Kabeer Port in the Gulf. In an advisory note, it stated that "there is oil in the water from a cargo tank, which could have some impact on the environment, the vessel has taken in water, no fires were reported, and the crew was'safe. Kuwait's interior ministry stated in a statement issued later that the incident occurred outside of Kuwait's territorial water, at least 60 kilometers (37 miles) from Mubarak Al Kabeer port.
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UKMTO: Crew safe after explosion reported near Kuwait
The United Kingdom Maritime Trade Operations said that a?tanker anchored off?Kuwait saw?a 'large explosion?" on its port side, and was taking in water. UKMTO reported that the master saw a small boat leave the area after the explosion. The explosion occurred in the Gulf 30 nautical miles (56 kilometers) south of Kuwait's Mubarak al Kabeer port. In an advisory note, it stated that "there is oil in the water from a cargo tank, which could have an environmental impact. The vessel has taken water on board, but there are no reported fires and the crew members are safe." Kuwait's interior ministry stated in a statement later that the incident occurred outside of Kuwait's territorial water, at least 60 kilometers (37 miles) from Mubarak Al Kabeer port.
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Bloomberg News reports that NASA will be contacting ULA to obtain critical hardware for the moon rocket.
Bloomberg 'News' reported Wednesday that NASA intends to choose?United Launch Alliance as a supplier of a critical component for future missions?of its moon rocket. According to the report, this could be done in order to replace Boeing-built equipment that NASA's Inspector General has estimated will cost $2.8 billion by 2028. Bloomberg reported that NASA plans to use the upper part of the Vulcan rocket from ULA, also known as Centaur V rocket, for its fourth Space Launch System rocket flight when it aims to send people to the moon for the first time since more than 50 years. ULA is a joint venture of Boeing and Lockheed Martin. NASA, Boeing, and Lockheed Martin didn't immediately respond to requests for comments, while ULA directed NASA to comment. NASA has added a spacecraft docking test last month to its Artemis Moon Programme before it attempts its first crewed lunar landing. This is part of a major overhauling of the U.S. effort on the moon, amid increasing delays and 'competitive pressure' from China. The agency has also abandoned efforts to upgrade its SLS rocket. Instead, it will 'focus on increasing the rocket's flight rate and production, which has fallen behind that of newer launch systems. The decision affects the roughly $2 billion contract that Boeing has with the United States to build a stronger?SLS upperstage, which is no longer in development. Reporting by Rhea Abraham in Bengaluru, editing by Sumana Niandy and Sherry Phillips
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Canada is working to repatriate over 2,000 Middle East citizens
Canada's Foreign Affairs Minister said that the government was working to repatriate citizens stranded in the Middle East. This includes arranging seats on commercial flights, negotiating charter flights, and providing ground transportation to neighbouring countries. Anita Anand, Canada's Foreign Minister, said that more than 2,000 Canadians had requested the government of Canada to help them leave the region after the U.S. attacked Iran. Around half came from Canadians living in the United Arab Emirates. Another 237 inquiries were from Canadians residing in Qatar. Anand stated that she had instructed her office to?enter into contracts for charter flights to leave the United Arab Emirates within the next few days, subject to approval by the UAE government. Anand stated that the government had secured 75 seats for a flight departing Beirut on a Wednesday. In the days to come, more seats will be offered to people who wish to leave Lebanon. She said that 200 Canadians were bussed to Saudi Arabia from Qatar with tickets for flights. The government is also "engaging ground transportation" to help other Canadians leave Qatar. She said that officials are informing Canadians living in Israel of a bus service operated by the Israeli Government to Egypt, where passengers will be transported to airports open in Egypt. Major Gulf hubs, including Dubai, the busiest international airport in the world, were largely closed for the fifth straight day on Wednesday. This was the worst travel disruption since COVID. The United Arab Emirates opened safe air corridors for some citizens to return to their home. Under normal circumstances thousands of commercial flights would leave the?region every day. "I would like to directly address Canadians living in the Middle East, the Gulf and the Gulf Region. Your government is behind you. Anand said at a press conference that the government was working hard for you and arranging for you to leave. Anand explained that Canada is unable to arrange ground transportation to and from Iran due to the lack of diplomatic representation there. However, it has sent officials to border crossings in order to assist Canadians who cross the border with visas, as well as their onward travel. Canada issued travel advisories to Canadians urging them to avoid travel to Bahrain and Iran, Iraq, Israel, Palestine, Kuwait and Lebanon, Qatar and Syria, United Arab Emirates, Yemen and avoid travel to Jordan, Oman, and Saudi Arabia that is not essential. (Reporting and editing by Chris Reese in Toronto, with Ryan Patrick Jones reporting from Toronto)
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Marsh, an insurance broker, meets with US officials to discuss restoring Gulf maritime commerce amid the Iran War
Insurance broker Marsh announced on Wednesday that it met with U.S. officials in order to discuss solutions for restoring the maritime trade amid the escalating conflict in 'the Middle East. This waterway is a crucial chokepoint between Iran & Oman and transports about a fifth (or a fifth of the global trade in crude oil & liquefied gas). The shipping through the Strait has been slowed down significantly after Iranian attacks on commercial vessels. This raises concerns about a prolonged disruption of global energy supplies. Marsh, who helped establish an international insurance facility for Ukrainian commerce in 2023, welcomed a directive issued by the U.S. International Development Finance Corporation, to provide financial guarantees and political risk insurance for maritime trade in the Gulf. Bloomberg News reported that Aon, an insurance broker, is in discussions with the U.S. Government about a plan for insuring?tankers traversing the Strait. Aon has not responded to the request for comment about the report. Although the U.S. did not declare war on Iran in a formal declaration, military tensions between the two countries have increased. Donald Trump stated on Tuesday that the U.S. Navy would be able to escort?oil tanks through the Strait of Hormuz, if needed. He also said he had instructed the DFC mobilize support for the affected trade. The move is one of the most aggressive measures taken by the administration to 'contain rising energy prices' amid the conflict in the Gulf which has increased risks for shipping along key waterways. Iran has long threatened to close the Strait of Hormuz in response to perceived "hostilities". Although it hasn't completely blocked the waterway yet, drones and missiles have been used to attack shipping. This has prompted insurance companies to re-evaluate risk. According to Gallagher, marine insurers on the 'London market' continue to provide a?war-risk coverage for vessels transiting this region. However, premiums are rising, and rates vary by vessel type, cargo and route. (Reporting by Manya Saini in Bengaluru; Editing by Tasim Zahid)
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Australia expects more flights to Middle East, but situation is volatile
Three more commercial flights are scheduled to leave?the United Arab Emirates Thursday, as the first group of Australians who were stranded for a few days in the Middle East have returned home. Commercial air traffic was?largely absent? across the Middle East, as major Gulf hubs, including Dubai, the busiest international airport in the world, remained closed for the fifth consecutive day. This is the largest travel disruption since COVID-19. Penny Wong, Australian Foreign Minister, said that she hoped three scheduled flights would go ahead but warned of a volatile situation after NATO's air defences destroyed a ballistic missile fired by Iran towards Turkey. Wong, speaking to ABC News on Friday, said that "this could happen very quickly" if there is a further military operation which makes flying unsafe. "We are operating in an environment that is highly unpredictable." Television footage showed that about 200 Australians returned from Dubai in an Emirates flight on Wednesday night. Families embraced their returning travellers including school-age children, and there were emotional scenes at the arrival gates. Sam Brown told ABC News that she and her family, including a four-year old daughter, had just moved from Dubai to the United Arab Emirates. The family was "totally shocked" by the circumstances, but they were relieved to be back home. We couldn't believe that we were able to get on the flight. We're ?so grateful. "We felt nervous, but very safe in the hands of our trusted staff." According to airport information an Emirates flight from Dubai to Sydney is scheduled to depart at 9 a.m. (2220 GMT Wednesday), and another flight to Melbourne has been set for 5 pm (0600 GMT). Etihad Airways' flight from Abu Dhabi to Sydney scheduled for Thursday was?delayed. Around 115,000 Australians are still in the Middle East. Of these, 24,000 live in the United Arab Emirates. Officials in Australia believe that commercial flights are the best option for stranded travelers to return home.
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Marsh, an insurance broker, meets with US officials to discuss restoring Gulf maritime commerce amid the Iran War
Marsh McLennan, an insurance broker, said that it had met with U.S. government officials on Wednesday to "explore" solutions for restoring maritime traffic amid the escalating fighting in the Middle East. The?region?is under threat from 'attacks' which threaten energy shipments across the Strait of Hormuz. This waterway is a crucial chokepoint between Iran & Oman and transports about a fifth (or a fifth of the global trade in crude oil & liquefied gas). The shipping through the Strait has been slowed down significantly after Iranian strikes on commercial vessels. This raises concerns about a prolonged disruption of global energy supplies. Marsh, which helped establish an international facility for Ukrainian trade by 2023, welcomed the recent directive of the U.S. International Development Finance Corporation, to provide financial guarantees and political risk insurance for maritime commerce within the Gulf. The?U.S. Although the?U.S. has not declared war on Iran formally, military tensions are increasing. Donald Trump announced on Tuesday that the U.S. Navy would be able to escort oil tankers across the Strait of Hormuz, if needed. He also said he had instructed the DFC mobilize support for affected trade. The administration has taken one of its most aggressive measures yet to control soaring energy costs?amid an escalating conflict that is affecting shipping through important waterways. Iran has been threatening to close the Strait of Hormuz for years in response to perceived hostilities. Although it hasn't completely blocked the waterway yet, drone and missile attacks have caused insurers to reconsider their risk assessment. (Reporting by Manya Saini in Bengaluru; Editing by Tasim Zahid) Marine insurers continue to offer coverage for war risks on vessels transiting the region. However, premiums are rising, with rates depending on vessel type, cargo and routing. (Reporting by Manya Saini in Bengaluru; Editing by Tasim Zahid)
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U.S., Australia can do little to replace lost Qatari LNG cargoes
According to industry analysts and calculations, the United States and Australia are two of the largest global producers of liquefied gas. They have limited spare capacity to compensate for the loss in supply after Qatar stopped production and declared force majeure due to the conflict in the Middle East. Qatar, which supplies 20% of all LNG in the world, has stopped its production because it cannot send super-chilled LNG through the Strait of Hormuz. Iran has threatened to fire at any vessel attempting to cross the Strait of Hormuz. A vessel was damaged on Wednesday by a projectile as it approached the shipping chokepoint near the Middle East Gulf. The U.S. has the largest LNG production in the world, but it is running at near-full speed and its cargoes are locked into long term contracts. The new U.S. LNG production that is expected to come online in the near future will likely not exceed 2 billion cubic foot per day. This would be far below the gap of 10 bcfd left by Qatar, which would equal to about 80 million tonnes per year. Alex Munton is the director of Global Gas and LNG for Rapidan Energy Group. The Dutch TTF benchmark dropped to $16.72 per milliBtu, after reaching a high of nearly $19 per milliBtu in the past three years on Tuesday. VENTURE FLEXIBILITY Venture Global, the second-largest U.S. manufacturer, has the greatest flexibility in helping in the short term. It can sell the cargoes it produces on the spot markets as it brings online a Louisiana plant. Venture Global sells 2 million metric tonnes per month on the spot market in Louisiana from its Plaquemines facility. This 'gives us more space to redirect cargoes', CEO Mike Sabel said on Monday during a earnings call. Plaquemines awaits final approval from the U.S. Department of Energy to expand beyond its current approved volume of 27,2 million tons per annum. Venture Global's output could increase by up to 7 million tons annually if the Department of Energy approves it quickly. However, this would only be a fraction compared to what Qatar has lost. Poten & Partners, a shipping firm, said Tuesday that Venture Global accounted more than half of 80 LNG cargoes sent from the U.S. into the Middle East in the past year. Venture Global declines to comment further. Golden Pass LNG, a joint venture of QatarEnergy and Exxon Mobil, is another new U.S. source. Initial production at a train capable of producing 6 million tons annually should begin this month. Golden Pass did not immediately answer a question on whether Qatar could use this to make up for its shortfalls. Last week, leading U.S. energy exporter Cheniere Energy began production at Corpus Christi from?Train 5. It is expected that the unit, which has a capacity of 1.5 million tons annually, will take approximately a month to reach full production. The majority of this volume has already been contracted. Cheniere said it would monitor developments in the Middle East, and deliver on its customer commitments. US, AUSTRALIA, AND QATAR ARE LEADERS IN GLOBAL GAS Energy analysts estimate that the global gas consumption is 400 billion cubic feet per day. According to the International Gas Union, approximately 55 bcfd is traded as LNG. The U.S.A., Australia, and Qatar account for about 60% of the global output. The majority of this LNG is sold on long-term contracts. Qatar sold LNG to Europe and Asia before it halted production. Australia, which ships 11 bcfd of LNG, has a limited number of spot cargoes that can?plug the gap in Asia's supply. There is little if any?room for a further increase in LNG production from Australia, as the plants are running at full capacity. Saul Kavonic, analyst at MST Marquee, said that some LNG plant maintenance could possibly be delayed to squeeze out three million tons of LNG over the next six month. The flow capacity of smaller producers is also limited. LSEG data show that LNG Canada is capable of producing up to 2 bcfd but currently produces about 1.5 bcfd.
US lawmakers express concern over Intel's testing on tools made by a Chinese-linked firm
A group of bipartisan U.S. legislators led by Democratic Senator Elizabeth Warren and Republican Tom Cotton raised concerns on Wednesday about national security issues regarding?Intel?s testing of ACM Research's chipmaking tools, which was first reported by?.
ACM Research is a Fremont-based manufacturer of chipmaking equipment. It has deep roots in China, and two overseas units were sanctioned by the United States. ACM Research's customers include Chinese companies like YMTC CXMT SMIC that are sanctioned. This raises questions about whether ACM can pass sensitive Intel information to Chinese clients.
The lawmakers wrote to Intel CEO Lip-Bu Tan on Wednesday that "by operating in Intel's facility, ACM can gain exposure to cutting edge chipmaking processes which?may improve the quality and competetiveness of ACM as well as Chinese military companies."
Intel stated in a press release that "ACM Tools are not used by Intel's semiconductor production processes." The company also said that it fully complies to U.S. laws, regulations and regularly engages with the U.S. Government on security issues.
ACM didn't immediately respond to the request for comment on this story.
The company had previously stated that it could not comment on "specific customer engagements" but confirms that "ACMR’s U.S. Team has sold and delivered numerous tools from our Asian Operations to domestic customers." The company also revealed that it had shipped three tools from its Asian operations to a major U.S. semiconductor manufacturer. These are currently being tested, and some of them have already met performance standards.
The letter is also signed by Democrats Elissa slotkin and Andy Kim, as well as Republicans Jim Banks and Pete Ricketts. It shows a bipartisan concern over China's increasing role in U.S. Semiconductor Manufacturing.
The House Selection Committee on China stated in October that it had "reviewed reports with concern" that ACM Research...has allegedly sold (semiconductor production equipment) to a U.S.-based semiconductor manufacturer who also officially certified ACM Research tools for use on its production line.
The lawmakers noted on Wednesday that Intel, who resisted President Donald Trump's calls for the CEO to resign in August due to alleged ties with China, now faces unique responsibilities because the U.S. Government owns a stake.
They wrote: "This raises serious questions about Intel's approach to protecting the public interest and its fiduciary responsibilities, as well as how it benefits American taxpayers and economic interests."
They added: "Intel’s involvement with Chinese companies on the blacklist raises questions about whether taxpayer dollars subsidise activities that may directly threaten U.S. security and leadership in semiconductor production." (Reporting and editing by Diane Craft; Alexandra Alper)
(source: Reuters)