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CMA CGM, the shipping giant, and a French AI startup have teamed up to improve customer service.
The partnership between shipping giant CMA CGM, and the tech startup Mistral AI is expected to yield rapid productivity gains. It was announced on Sunday. The partnership will see CMA CGM spend 500 million euros (550 million dollars) on AI over the next five years, and will be focused on improving customer service and logistics in shipping as well as fact-checking for its French media outlets including BFM TV. Rodolphe Saade, CMA CGM Chairman and CEO, declined to provide financial targets on return on investment in a joint interview conducted with Arthur Mensch's cofounder and CEO of Mistral. Saade, however, said that "the implementation of the initiatives should not exceed six to twelve months", and would reduce response times for customer advisors who receive 1 million emails per week. This includes requests about routing vessels. Investors are under pressure after the AI sector received massive funding. The low-cost Chinese AI DeepSeek model has unnerved investors. Mistral was hailed by President Emmanuel Macron in February as a European champion in a competition with American giants like OpenAI which produces ChatGPT. This year, it has forged partnerships with major French groups, including Stellantis. Mensch stated that Mistral, whose investors include CMA CGM, is expecting a 10-fold growth in sales between December 2020 and December 2025. AI regulation is one of the main issues between the U.S. and Europe. Relations deteriorated further when President Donald Trump announced tariffs. Saade added that he believes in global investment in open markets. CMA CGM was the third largest container shipping line in the world. Trump praised the company last month for its pledge to invest $20 billion dollars in the United States. The group also has partnered with U.S. technology names such as Alphabet, whose Google CMA CGM announced in July a five-year AI collaboration worth $150 million. Reporting by Gus Trompiz, Florence Loeve and Alison Williams.
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Amazon's soy shipping route to Brazil is disrupted by protests and poor roads
In recent days, protests by indigenous peoples and poor roads disrupted the shipping of Brazil's bumper soya crop via the river port Miritituba within the Amazon rainforest. This has caused concern for global companies such as Cargill and Bunge who have important operations. Abiove, the association of grain handlers in Nigeria, reported on Friday that road access to Miritituba had been partially or totally blocked for two weeks. This has prevented the shipment of almost 70,000 tons per day of grain, equivalent to almost $30 millions of product value. In a statement issued jointly with the farm group Aprosoja Brasil, and the private port operator lobby ATP it urged the authorities and civil society members to find a solution quickly as the blockades affect not only grain shipments, but also the movement of people and the arrival and delivery of essential goods and services. The demand for soy, which is produced and exported by Brazil, the largest producer in the world, has risen dramatically. China is the world's No. 1 soybean consumer, as traders prepare for a potential trade war that could discourage Chinese imports. Miritituba loaded 15 million tons soy and corn onto barges last year, bound for larger ports on the river. This represents more than 10% of Brazil's total grain exports. The port's volume is expected to increase by around 20% in this year. At certain times of the day, protesters from the Munduruku tribe have blocked a major stretch of the Transamazonian Highway in Miritituba to pressurize Brazil's Supreme Court into overturning a law passed in 2023 that was intended to limit their land rights. This has caused traffic to worsen along a five-kilometer unpaved stretch of road. The trucking group ANATC reported that the traffic had left some cargos at Miritituba waiting for three days before they could be unloaded. AMPORT, the company that represents the biggest firms shipping out of the terminal, has said that truckers who have pre-scheduled their access to the port do not experience these wait times. AMPORT president Flavio Acauassu estimates that each hour the protesters blockade the terminal, at least 12,000 tonnes of soybeans are prevented from arriving. Via Brasil BR-163, the company that administers the 1,009 km (627 miles), of highway connecting farms in Mato Grosso to the river port said a new entrance will be built once courts grant it permission to expropriate specific areas. According to Munduruku representatives, the frustrations between truckers' and Indigenous protestors have escalated into violent incidents. They wrote: "Our fight is peaceful but we are suffering from attacks and threats by truck drivers including insults and stone throwing as well as dangerous driving and gun shots." Rafael Modesto is an attorney for the Indigenous Missionary Council that represents Indigenous interests in the Supreme Court. He said the protest was a reflection of native peoples' fears about losing their land to advancing farming frontiers. Brazil's powerful farm lobby in the Brazilian Congress has been at odds over a proposed deadline for new reservations of lands on which Indigenous people did not live in 1988. He said: "We think that, if any proposals that change the text of Constitution are passed, then demonstrations like these may become more common all over Brazil." (Reporting Ana Mano Additional Reporting by Manuela Andreoni Editors Brad Haynes, Alistair Bell and Brad Haynes)
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Panama Canal Authority to announce opening of bidding for LPG Pipeline
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 increase the supply of U.S. LPG, said Ricaurte Vasquez, the Canal's director last month. In a press release, the canal said it would seek out companies that are technically and commercially capable of executing the pipeline's construction and, eventually, its operation. The release added that "this complementary activity will be integrated into the sustainable development on the West Bank of the Panama Canal, which includes alternative activities to the transport of products by sea." The authority of the canal said that bids would be accepted in the months following approval by the board.
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Amazon's soy shipping route to Brazil is disrupted by protests and poor roads
The poor road conditions and protests by indigenous groups have caused the shipment of Brazil's bumper soya bean crop to be delayed this week at the port of Miritituba, in the Amazon rainforest. This is where major grain traders such as Cargill and Bunge operate. The demand for soy, which is produced and exported by Brazil, the largest producer in the world, has risen dramatically. China is the world's No. 1 soybean consumer, as traders prepare for a potential trade war that could discourage Chinese imports. Miritituba loaded 15 million tons soy and corn onto barges last year, bound for larger ports on the river. This represents more than 10% of Brazil's total grain exports. The port's volume is expected to increase by around 20% in this year. At certain times of the day, protesters from the Munduruku tribe have blocked a major stretch of the Transamazonian Highway in Miritituba to pressurize Brazil's Supreme Court into overturning a law passed in 2023 that was intended to limit their land rights. This has caused traffic to worsen along a five-kilometer unpaved stretch of road. The trucking group ANATC reported that the traffic had left some cargos at Miritituba waiting for three days before they could be unloaded. AMPORT, the company that represents the biggest firms shipping out of the terminal, has said that truckers who have pre-scheduled their access to the port do not experience these wait times. AMPORT president Flavio Acauassu estimates that each hour the protesters blockade the terminal, at least 12,000 tonnes of soybeans are prevented from arriving. Via Brasil BR-163, the company that administers the 1,009 km (627 miles), of highway connecting farms in Mato Grosso to the river port said a new entrance will be built once courts grant it permission to expropriate specific areas. According to Munduruku representatives, the frustrations between truckers' and Indigenous protesters have escalated into violent incidents. They wrote: "Our fight is peaceful but we are suffering from attacks and threats by truck drivers including insults and stone throwing as well as dangerous driving and gun shots." Rafael Modesto is an attorney for the Indigenous Missionary Council that represents Indigenous interests in the Supreme Court. He said the protest was a reflection of native peoples' fears about losing their land to a rapidly expanding farm frontier. Brazil's powerful farm lobby in the Brazilian Congress has been at odds over a proposed deadline for new reservations of lands on which Indigenous people did not live in 1988. He said: "We think that if any proposal to change the Constitution text is passed, then demonstrations such as this one could become more common all over Brazil." (Reporting Ana Mano Additional Reporting by Manuela Andreoni Editors Brad Haynes, Alistair Bell and Brad Haynes)
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DOE to cut US battery and carbon-capture projects
According to a list obtained by the, the U.S. Department of Energy may cut billions of dollars from funding for projects that demonstrate new energy storage technologies and carbon capture. Removing funding would be a serious blow to the promising new technologies for cutting carbon emissions that heavily rely on government support, because traditional investors in the private sector consider them too risky. The Office of Clean Energy Demonstrations of the DOE has funded over twenty projects, including four pilot carbon capture projects, which received a total of $309 million in funding last year. Three later-stage demonstrations projects were also funded, with $890 million going to integrated carbon capture and transport technologies. In an interview, Jessie Stolark said that the Carbon Capture Coalition's executive director, Jessie Stolark, argued that the projects are of critical importance and to stop them at this time would be catastrophic. Stolark said that some projects have already begun to test or build wells. List also included planned funding cuts to six of the nine battery storage long-term projects. The companies were awarded $350 millions to develop technology which would allow utilities and grid operators to integrate renewable energy sources such as solar and wind, by storing their power for longer periods. These include projects from power sector giants such as NextEra which received up to $49m to install zinc-bromide battery at solar and wind installations in three states and Westinghouse which received up to $50m for a pumped thermo storage system in Alaska. Other startups affected by the issue include Smartville and ReJoule which reuse used electric vehicle batteries and New York based Urban Electric Power which has developed a Zinc Manganese Dioxide battery. Zora Chung of California's ReJoule said in an e-mail that they were "actively working to communicate to Energy Secretary Chris Wright the importance of our research and engaging with our Congress representatives to ensure continuing support for energy innovation." We believe that this issue is of national importance and crosses party lines. The Department of Energy didn't immediately respond to an inquiry for comment. NextEra, Westinghouse and other companies did not reply to comments. Urban Electric Power has declined to comment. Energy storage that can last a long time is seen as essential to the deployment of large amounts intermittent resources such as wind and solar to help decarbonize global electricity. Grid-scale lithium-ion batteries, which are currently available on the market, can only store four hours' worth of energy. Scott Packard is the vice president of Business Development at Smartville in Carlsbad. He said that the uncertainty surrounding federal funding led to the dismissal of eight employees. Packard stated that the company is moving away from federal grants and focusing on commercial activities. "We'll either make it or not." Washington has cut funding for clean-energy projects ever since Donald Trump, the climate change skeptic president, assumed office in January. As part of his "energy dominance agenda", the Trump administration prioritizes fossil fuel production. Energy Secretary Chris Wright has been reviewing lists of projects funded through the 2022 Inflation Reduction Act and 2021 Infrastructure Investment and Jobs Act to weigh which of the congressionally-appropriated projects should cease receiving federal funding. On Thursday, a group of House Democrats sent a criticism letter to the DOE inspector general. The letter stated that "it appears some projects which were previously considered worthy of funding have been cancelled without sufficient justification and, in some cases, there is no clear reason other than administrative convenience." Reports last week indicated that two Direct Air Capture Hubs in Texas, Louisiana and other states that were aimed at demonstrating the technology of capturing carbon from the air at commercial scale would be marked for closure on another list that was circulating. The report also said that four hydrogen hubs aimed at boosting the production of “clean hydrogen” were to be cut. (Reporting and editing by Nia William, Valerie Volcovici, Nichola Groom)
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As Trump tariffs continue to pull markets down, Asian spot LNG prices are still at a 6-month low.
The Asian spot price of liquefied gas (LNG), which is a product of the United States, remained at its lowest level for nearly six months as President Trump's "liberation" day tariffs caused global markets to fall amid fears about a global economic recession. Average LNG price for delivery to North-east Asia in May The price per million British Thermal Units (mmBtu) remained at $13, the same as last week, and is now the lowest since October 11, according to industry sources. Alex Froley is a senior LNG analyst with data intelligence firm ICIS. He said that fears of slower economic growth would also impact energy prices. Around the world, countries threatened to retaliate for Trump's tariffs. China announced an additional 34% tariff on U.S. products on Friday. This is the most significant escalation of a trade war that has worsened between Beijing and Washington. Klaas Dzeman, a market analyst with Brainchild Commodity Intelligence, said: "This is not the ideal environment for China to be confronted with unseen import duties of up to 34%, and 24-26% for India. South Korea, Japan and South Korea." He said that "the widely held opinion is this will harm the global trade and industry production, reducing demand for LNG further." Froley, of ICIS, said that earlier tariffs had already affected U.S. LNG exports to China. Since February 6, no cargoes have arrived in China. On Friday afternoon, gas prices in Europe fell to their lowest levels in more than six months in response to the sharp drop in oil and stock markets. Martin Senior, the head of LNG prices at commodities pricing agency Argus, said that hedge funds with exposure to commodities and equities, as well as oil, sold gas on Thursday in order to de-risk portfolios. Oil and equities were also down. He added that "stop losses" were also activated when TTF (Dutch Title Transfer Facility) prices fell below certain thresholds. This exacerbated losses. Analysts said that the European Union is prepared to counter Trump's tariffs by implementing countermeasures. However, they added that Europe had no other choice than to continue importing U.S. LNG and ruled out retaliatory duties on this commodity. The tariffs had an indirect effect on the dollar, which weakened against other currencies. This meant that U.S. gas cargoes were becoming cheaper than those from other countries. Dozeman explained that this increased the incentive for Europe's LNG buyers to purchase more U.S. Gas to maximize the filling of storage in the months to come. S&P Global Commodity Insights estimated its daily North West Europe (NWM) LNG Marker price benchmark on April 3 at $12.071/mmBtu for cargoes to be delivered in May ex-ship. This represents a $0.75/mmBtu reduction from the gas price for May at the Dutch TTF Hub. Spark Commodities set the April price for delivery at $12.044/mmBtu. Argus based its assessment on the May price of $12.07/mmBtu. Qasim Afghanistan, Spark Commodities analyst, says that the arbitrage between North-East Asia and Europe via Cape of Good Hope is continuing to encourage U.S. cargoes being delivered to Europe. On Friday, the LNG market saw a drop in the Atlantic rate for the second consecutive week, to $23,500/day. Meanwhile, the Pacific rates increased to $26,750/day.
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Maguire: Coal traders may be the rare winners of Trump's tariff war.
Coal traders may be the only ones to benefit from President Donald Trump’s new, drastic tariff regime. The new tariffs add at least 10% on the price of almost all goods imported into America. Energy providers in Asia, who have been hit by some of the most expensive new U.S. Tariffs, will be under pressure from their customers to reduce power costs. This includes many of the largest goods producers around the world. Asia's utilities can help manufacturers maintain some sales, even after the tariffs are implemented, to the largest importer in the world, by lowering the operating costs of factories. To produce the most affordable power, Asian power producers must increase the use coal and reduce the use of more expensive fuels. This would be great news for the coal miners and traders in the area, but bad news for the regional emission levels which will continue to rise as more coal is burned for electricity. HARDEST HIT The new U.S. Tariff Levels are most affecting the Asian manufacturers, with China and Vietnam being hit by new tariffs of 34 and 44 percent, respectively. China and Vietnam produce a large share of electronic, clothing, furniture, and sporting goods purchased by U.S. customers. Indonesia (32%), Cambodia (49%) Malaysia (24%), and the Philippines (17%) are other Asian countries with large manufacturing bases that export. Due to the soft consumer demand in the U.S., the companies won't be able pass on the increased costs caused by tariffs without a significant drop in sales. Many companies will instead try to absorb some of the tariff impacts themselves and find ways to cut costs to maintain a profit margin. Local governments will probably be a big help in this search for cost savings, as they will want to keep manufacturing jobs despite the new hostile trading environment. COAL FIX Coal traders are willing to assist in cost-saving efforts by providing power producers with additional volumes of thermal coal used for electricity production. According to Ember, coal is the cheapest, largest, and most efficient source of thermal energy production in Asia. It will account for 56% of the region's electricity supply in 2024. Natural gas has replaced some coal in certain countries as part of the effort to reduce pollution. It accounted for 10% of regional electric supplies last year. In the future, however, coal is likely to see a revival as utilities prioritize cost above all else in order to help manufacturers weather a tariff storm. This will mean that coal traders can supply higher volumes to coal burning hubs in the region more frequently. According to Kpler, global trade intelligence company, the largest coal consumers in the region are the region's manufacturers. In 2024, coal imports will have increased in nearly all major Asian manufacturing hubs, including China (10%); Vietnam (28%); Cambodia (26%); the Philippines (5%); and Malaysia (3%) The imports to these countries also reached record levels in 2024 despite the fact that shipments to other countries continue to fall. The combination of increasing demand from a small group of consumers is good for coal traders who can optimize their shipments. The coal volume shipped to Asia will probably increase in 2025 due to the cost-cutting initiative triggered by Trump’s new tariffs. The region's power grid is trying to reduce power costs, so coal traders should expect to see both growth in volume and margins. These are the opinions of the author who is a market analyst at.
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CPC: Russian court orders that the Caspian oil export terminal will not be suspended by the Russian court
The Caspian Pipeline Consortium said that on Friday, a Russian court fined the consortium 200,000 roubles (2,370 dollars) for oil transhipment infractions. However, it was ruled by the court that its Black Sea Export Terminal facilities would not be suspended. This decision is likely to prevent a possible fall in Kazakhstan oil production via CPC. Around 80% of Kazakhstan's exports are oil. Sources in the industry told of a frenzy of diplomatic activity before the court's ruling regarding the pipeline operations between Russia and Kazakhstan. Transneft, the Russian oil pipeline monopoly, announced on Thursday that Nikolai Tokarev met with Askhat Khassenov from KazMunayGaz in Moscow. Both companies are major CPC shareholders. Transneft didn't mention CPC in its statement regarding the meeting. After a series of inspections in response to a major oil spill that occurred in December, the Russian transport regulator ordered CPC, which includes Chevron, Exxon Mobil and other shareholders, to suspend its operations at two moorings on its Black Sea Export Terminal. CPC reported on Friday that the court had, after considering the inspection, found the Russian portion of the CPC consortium responsible and imposed a fine of 200,000 Russian roubles, without suspending the exporting facilities. When the CPC export terminal will resume normal operations was not immediately apparent. CPC refused to comment on timing. The CPC pipeline was set to export 1.7 million barrels of oil per day in April, which is approximately 6.5 millions metric tons. CPC is a major oil-export route for Kazakhstan. Due to the rising production of the Tengiz oilfield, owned by Chevron, Kazakhstan has exceeded its export quotas in the OPEC+ producer groups, which include OPEC, Russia, and other countries. Saudi Arabia and other OPEC+ countries have also pressed Kazakhstan to reduce production in order to meet its quotas. OPEC+ announced on Thursday that it would increase output before the scheduled date, indicating its confidence in non-compliant member countries to reduce production.
FBI nominee Patel pledges no 'political retribution' at FBI after firings of Trump prosecutors
Kash Patel, President Donald Trump's candidate for FBI director, pledged on Thursday to protect FBI employees versus political retribution even as the Trump administration has actually begun to fire and sideline Justice Department authorities who were involved in investigations into the president.
Pushed by Democratic U.S. Senator Richard Blumenthal to commit not to fire FBI agents who worked on examinations into Trump's mishandling of categorized documents and efforts to reverse the 2020 election, Patel stated all FBI employees will be secured versus political retribution.
The acting attorney general of the United States, who manages the FBI, on Monday
fired more than a dozen lawyers
who worked on the Trump cases, mentioning an absence of trust that they could perform Trump's program.
Democrats pushed Patel during his verification hearing about his past comments minimizing the Jan. 6, 2021, attack on the U.S. Capitol and threatening investigations of federal government officials and the news media. Patel did not directly address past remarks, however told the Senate Judiciary Committee any. allegations leveled against me that I would somehow put. political bias before the Constitution are grotesquely unjust.
Patel, a conservative firebrand, has actually been amongst the most. vocal critics of investigations into Trump, portraying them as. the work of a deep state on law enforcement and intelligence. authorities bent on weakening the president.
Patel appeared to break with Trump on his sweeping. pardons for all of the almost 1,600 individuals charged in the. Capitol attack, consisting of hundreds who were founded guilty of. attacking police.
I have constantly rejected any violence against law. enforcement, Patel stated. I do not agree with the commutation. of any sentence of any person that devoted violence. versus law enforcement.
Patel said any FBI investigations throughout his period would be. based on a factual and legal basis.
There will be no politicization at the FBI, Patel said. There will be no retributive action.
DEMOCRAT QUESTIONS QUALIFICATIONS
The panel's leading Democrat, Penis Durbin, told Patel he had. neither the experience nor the temperament nor the judgment to. lead the FBI, indicating authorities in Trump's very first. administration who condemned him.
Our nation requires an FBI director who comprehends the. gravity of this mission and is ready on day one, not someone who. is consumed by his own personal political grievances, Durbin. said.
Democrats by themselves will not be able to block Patel from. being confirmed. Trump has actually up until now succeeded in securing. confirmation for one extremely questionable candidate, Defense. Secretary Pete Hegseth, in a 51-50 vote after Vice President JD. Vance broke a tie caused by three Republican no votes.
That was just the second time in U.S. history a vice. president's vote was needed to break a tie on a Cabinet nominee.
The committee's leading Republican politician, Chuck Grassley, looked for to. preempt Democratic attacks, denying that Patel has an enemies. list of people he will target for investigation. He portrayed. Patel as an iconoclast who has actually exposed corruption in federal law. enforcement and intelligence agencies.
Mr. Patel's profession has been a study in fighting out of favor. but righteous causes, Grassley stated.
Patel has actually insisted that the FBI utilized undercover operatives. to allure rioters throughout the attack on the Capitol - a claim. debunked by a current Justice Department inspector general. report.
A former assistant to then-House Intelligence Committee. Republican Politician Chairman Devin Nunes, Patel assisted spearhead the. congressional probe into the FBI's handling of its examination. into contacts between Trump's 2016 governmental campaign and. Russia.
A Justice Department internal watchdog report later on. concluded that the FBI made mistakes in the warrant application to. conduct security on previous Trump campaign adviser Carter. Page, however found no proof of political predisposition.
Patel started his profession as a public defender in Miami,. initially on local cases and later on federal ones.
Before going to work on Capitol Hill, he operated in. counterterrorism at the Justice Department for about three. years.
Later on, he also briefly worked for the Workplace of the Director. of National Intelligence, the National Security Council and. finally, as chief of personnel to the defense secretary.
(source: Reuters)