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Iran purchased about 60,000 tonnes of barley at auction this week, traders claim
European traders reported on Friday that the state-owned Iranian animal food importer SLAL purchased approximately 60,000 metric tonnes of animal feed barley at an international auction this week. Separate tenders for up to 120,000 tonnes of animal feed corn and barley, as well as 120,000 tonnes of soymeal closed on the 21st of April. They said that although no purchases of corn and soymeal were reported from the mainstream trading houses, some small purchases from regional trading firms could not be excluded. The reports reflect the opinions of traders, and it is possible to estimate prices and volume later. The tender requested that barley come from the European Union (EU), Russia, Ukraine, or other countries in the Black Sea Region, including Turkey and Kazakhstan. Prices were not available. The corn could be sourced from Brazil, Europe or other Black Sea regions, including Turkey. Soymeal was only available from Brazil and Argentina. Traders said that the Western sanctions on Iran have made it difficult for Iranian companies to participate in recent tenders due to payment problems. The sanctions imposed on Iran over its nuclear program do not apply to food, but they have affected the financial system of the country, causing complex and irregular payment arrangements. Traders say Iran is offering to pay for this week's auctions through two banks: one in Iraq, and another in Turkey. Michael Hogan (Reporting and Editing by David Goodman)
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Air India is in talks with Boeing about 10 planes that Chinese airlines have rejected.
Air India and Boeing are in discussions to purchase around 10 737 MAX aircraft after Chinese customers began refusing to accept deliveries due a trade dispute with the United States. Two people who were familiar with the talks confirmed this. Boeing CEO Kelly Ortberg stated on Wednesday that, "due the tariffs many of our Chinese customers have indicated that will not be taking delivery", the company may redirect jets to customers who are in need. Both the United States and China have imposed tariffs exceeding 100% each on the other. Air India, according to two sources who refused to name themselves because the talks are private, was looking for around 10 narrowbody aircraft from Boeing. Air India Express is a budget airline with a fleet that exceeds 100 aircraft. Air India, Air India Express, and Boeing have not responded to comments immediately. The first person stated that "Air India was very interested... If the deal is completed, the planes will be added to the Fleet by the end of the Year." She also noted that the talks are in the early stages. Air India Express previously acquired white tail aircraft, or jets that were manufactured for one client but purchased by another. According to a third source who is familiar with the talks between Air India, Boeing and Chinese customers, any differences in jet configurations between Air India's fleet and the planes that are coming for Chinese customers could be taken into consideration when negotiating prices. Air India could benefit from the move as its growth has been restricted by a shortage of new aircraft. Air India CEO Campbell Wilson stated last month that the airline is a "victim" of circumstances, referring to the delivery delays plaguing Boeing & Airbus. (Reporting and editing by Abhijith Ganahapavaram; Aditya Kalra and Aditi Shah)
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US to hold Alaska LNG summit and urge Japan and South Korea to support the project
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 due to the cost and amount of work required. Trump has asked Japan's Prime Minister Shigeru ishiba, who has simultaneously threatened trade tariffs and urged allies to purchase U.S.-produced energy, to support the Alaskan Plan. Taiwanese energy company CPC Corp. signed a nonbinding agreement last month with Alaska Gasline Development Corp. to invest and buy LNG. Taiwanese President Lai Ching Te said that this move would guarantee the island's security of energy. The summit planned by Trump's National Energy Dominance Council to maximize oil and gas production would be around June 2. The New York Times was the first to report this. The White House or the Interior Department didn't immediately respond to an inquiry for comment. Separately officials from Thailand, who could also be consumers of LNG from Alaska, as well as South Korea, are expected to visit Alaska to discuss the project in the next couple of weeks, according to the source, who spoke under the condition of anonymity. This would be the first time that officials from Thailand have visited Alaska to discuss the project during Trump's second term. Ahn Duk Geun, South Korea's Minister of Industry, said in Washington on Thursday that he wasn't aware of any plans to announce the company's commitment. He added that "there are many things to be done" in order to "understand the local situation better". Ahn stated that the country will be sending an inspection team. The results of due diligence must be seen before discussions can proceed.
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Source: US to hold Alaska LNG summit and urge Japan, South Korea, and other countries to support the project
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 to the cost and amount of work required. Trump has asked Japan's Prime Minister Shigeru ishiba, who has simultaneously threatened trade tariffs and urged allies to purchase U.S.-produced energy, to support the Alaskan Plan. Taiwanese energy company CPC Corp. signed a nonbinding agreement last month with Alaska Gasline Development Corp. to invest and buy LNG. Taiwanese President Lai Ching Te said that this move would guarantee the island's security of energy. The summit planned by Trump's National Energy Dominance Council to maximize oil and gas production would be around June 2. The New York Times was the first to report this. The White House or the Interior Department didn't immediately respond to an inquiry for a comment. Separately officials from Thailand, who could also be consumers of LNG from Alaska, as well as South Korea, are expected to visit Alaska to discuss the project in the next couple of weeks, according to the source, who spoke under the condition of anonymity. This would be the first time in Trump's second term that officials from Thailand have visited Alaska to discuss the project. (Reporting and editing by David Gregorio; Timothy Gardner)
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Morocco launches $10 billion rail expansion plan
State media reported that Morocco's King Mohammed V gave his approval on Thursday to a rail expansion project worth 96 billion dirhams (10,3 billion dollars), which includes the construction of a fast-track line from Marrakesh (the country's tourist center) by 2030. The extension of high-speed rail, intercity, and urban networks has been a result of Morocco's preparations for co-hosting the World Cup 2030 with Spain and Portugal. The country hopes that the investments will also help to develop its fledgling rail industry. The 53 billion dirhams high-speed rail line will run from Kenitra, on the Atlantic Coast, 430 km south to Marrakesh and serve Rabat and Casablanca. The line, which is designed to travel at 350 km/h, will reduce the time it takes to travel between Marrakesh, Morocco and Tangier to just 2 hours 40 minutes. In February, the Moroccan state-owned ONCF rail operator announced that it had entered into agreements to buy 168 trains in France, Spain and South Korea. The total cost of these deals was 2.9 billion dirhams. Alstom, a French company, will provide ONCF with Avelia Horizon high-speed double-decker trains. These can transport 640 passengers at speeds of up to 320 km/h. Other trains include intercity and city trains. ONCF plans to double its number of cities to 43 by 2040, which will cover 87% of Moroccans. The deals include investments into the rail industry of the country. (Reporting by Ahmed Eljechtimi; Editing by Leslie Adler)
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Drewry: Global container shipping volume will fall by 1% due to Trump's trade policies
The maritime consultancy Drewry stated on Thursday that they expect the global container port volumes to drop by 1% due to U.S. Trade Policies. This would be the third decline in container shipping demand globally since London-based Drewry started recording this data in 1979. Container volumes dropped 8.4% in 2009 during the global financial crises and 0.9% when the COVID Pandemic was declared in 2020. The new Trump policy includes tariffs blanket of 10% on most goods and 145% on those from China. China and other countries have retaliated with tariffs against U.S. products. The consultancy stated in a presentation that if 2/3 of the current tariffs were to remain in place then U.S. exports to China could drop by 40%. Imports from China of furniture, consumer goods and industrial products dominate U.S. imports. The relocation of Chinese production into countries with lower tariffs may offset some of this decline in shipping demand. Drewry stated that U.S. imports of goods from other countries may increase by as much as 15 percent. Economists warn of the dangers that President Donald Trump’s trade policies pose to the United States' economy. This recession could then spread to other countries around the globe. The International Monetary Fund warned earlier this week that the impact of Trump's tariffs will be felt in the coming months as they begin to take effect. Hapag-Lloyd, the German container carrier, said that on Wednesday customers had canceled 30 percent of their shipments from China to the United States due to the trade war between the two world's largest economies. Walmart and Target are members of the National Retail Federation. They forecasted earlier this month a drop in U.S. containerized cargo imports by at least 20% from year to year during the second half 2025, as companies who source their goods from China paused orders. Los Angeles is the busiest port in the United States. Many containers are arriving from China. The executive director of the company warned that import volumes may start to fall as early as May.
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Air India is in talks with Boeing about 10 planes that Chinese airlines have rejected.
Air India and Boeing are in discussions to purchase around 10 737 MAX aircraft after Chinese customers began refusing deliveries due to the trade war between the United States and China. Boeing CEO Kelly Ortberg stated on Wednesday that, "due the tariffs many of our Chinese customers have indicated that will not be taking delivery", the company may redirect jets to customers who are in need. Both the United States and China, two of the world's largest economies, imposed tariffs exceeding 100% each on the other. Air India, according to two sources who refused to name themselves because the talks are private, was looking for around 10 narrowbody aircraft from Boeing. Air India Express is a budget airline with a fleet that exceeds 100 aircraft. Air India, Air India Express, and Boeing have not responded to comments immediately. The first person stated that "Air India was very interested... If the deal is completed, the planes will be added to the Fleet by the end of the Year." She also noted that the talks are in the early stages. Air India Express previously acquired white tail aircraft, or jets that were manufactured for one client but purchased by another. According to a third source who is familiar with the talks between Air India, Boeing and Chinese customers, any differences in jet configurations between Air India's fleet and the planes that are coming for Chinese customers could be incorporated into price negotiations. Air India could benefit from the move as its growth has been restricted by a shortage of new aircraft. Air India CEO Campbell Wilson stated last month that the airline is a "victim" of circumstances, referring to the delivery delays that have plagued Boeing and Airbus. (Reporting and editing by Abhijith Ganahapavaram; Aditya Kalra and Aditi Shah)
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Morgan Stanley Infra Partners is reportedly looking to sell $2 billion worth of Permian Pipelines, according to sources
Morgan Stanley Infrastructure Partners has been exploring the possibility of selling its majority stake in Brazos Midstream II. The deal is expected to be valued at over $2 billion, including the debt, according to three sources familiar with the situation. Brazos transports natural gas, liquid natural gas and oil from wellheads in five Texas counties into larger pipelines located on the Delaware portion of Permian basin. The company owns infrastructure, including natural gas storage and compression capability. The people who spoke to us asked not to be named because they were private discussions. Investment bankers from Jefferies Financial Group have in recent weeks been selling MSIP's controlling interest in Brazos, to potential buyers including midstream companies, investment firms and other financial institutions. They warned that the sale process was ongoing and that a deal may not be reached, nor will it include the price demanded by MSIP. MSIP could also decide to keep its investment. Morgan Stanley, Brazos and Jefferies declined to comment. Morgan Stanley's Infrastructure Investment arm purchased Brazos midstream II for $1.75billion in 2018. Williams Companies struck a deal with Brazos in the same year. Williams provided assets in exchange of a 15% stake. Sources said that Williams will not be bidding on the majority MSIP stake. Williams has not responded to a request for comment. Brazos midstream II is the latest in a long line of private pipeline companies that have been involved in deals in the US shale sector. The majority are bought by infrastructure companies listed on public exchanges looking to increase scale. Energy Transfer purchased WTG Midstream from a group headed by infrastructure fund Stonepeak for $3.25 Billion. ONEOK paid $2.6 billion for Medallion Midstream, which was acquired by Global Infrastructure Partners. Kinetik bought Durango Permian from Morgan Stanley Energy Partners for $765m. (Reporting and editing by Joe Bavier in New York, with David French reporting from New York)
NextDecade signs a 20-year agreement with Aramco for the supply of LNG from Rio Grande.
NextDecade, a U.S. producer of liquefied gas, announced on Tuesday that it had signed a 20-year agreement with a Saudi Aramco subsidiary to supply supercooled gas from its Rio Grande plant.
The Aramco subsidiary is expected to purchase 1.2 millions tonnes of LNG per year from Train 4 in Rio Grande, which will be its fourth liquefaction plant, if the final investment decision on the facility is positive.
In declaring a state of energy emergency, President Donald Trump promised to unleash American power. This strategy includes a growth in LNG exports.
In March, the country exported more than 9 millions metric tons of LNG.
NextDecade has been developing the Rio Grande LNG Export Plant for several years and has suffered repeated delays. Its phase 1 is expected to be completed by early 2029, at a cost of approximately $18 billion.
The company has made an FID for the construction of the first three liquefaction trains at the project by 2023.
The statement said that a positive FID for Train 4 was subject to "entering into appropriate commercial agreements and obtaining sufficient financing to build Train 4 and its related infrastructure". (Reporting and editing by Anil D’Silva in Bengaluru, Shilpa Majumdar, and Tanay Dhumal)
(source: Reuters)