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Canadian Finance Minister discusses supply chain integrity at meeting in China
The Canadian finance minister stated on Friday that he had discussed supply chain integrity with his counterparts in China during a meeting aimed at boosting trade. Ottawa is under scrutiny from the United States over its labour laws. The Finance Minister Francois Philippe Champagne told reporters the meeting was primarily focused on the financial sector, but also included trade in energy and pork. Canada is working to increase its overall exports to China by 50% by 2030. Champagne stated that "Canada places a high priority on the 'integrity of supply chains' and that our trade should be conducted according to 'international standards. The U.S. Trade Representative's Office announced in March that it had launched a second round of Section 301 unfair trading practice investigations of 60 economies including Canada. This was due to the failure to act on what they called forced labor. China is Canada's second-largest trading partner, with bilateral trade worth C$120 billion (US$86.1 billion). According to the official Chinese summary of Champagne's Friday meeting with Vice Premier He Lifeng, the two have agreed to hold a high-level financial and economic dialogue in the second part of this year. Champagne said that Stellantis had not been in contact with the automotive sector, despite reports that they were discussing building 'electric vehicles' in Canada with Zhejiang?Leapmotor Technology. ($1 = 1.3934 Canadian dollars)
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Japanese LNG tanker crosses Strait of Hormuz
Mitsui O.S.K., the co-owner of the tanker, confirmed that a liquefied gas tanker owned by Japan had crossed?the Strait of Hormuz. Lines announced?that a Japanese-owned LNG tanker had crossed the Strait of Hormuz on Friday. Mitsui O.S.K. confirmed that the crew members of the Panama flagged ship "SOHAR LNG" are safe. Lines spokesperson refused to reveal when the ship crossed the Strait or whether any negotiations were required. Asahi reported earlier on the crossing. Until the U.S. and Israel?attacks against Iran began in February, leading to an effective closure of the Strait?, the Strait was the route used by about a fifth?of global oil and liquefied _natural_ gas supplies. Japan was especially dependent, as 90% of its oil imports and 6% of its LNG imports passed through the Strait. DOZENS JAPANESE VEHICLES ARE STANDARDIZED According to the Japanese transport ministry, as of Friday morning, 45 Japanese-owned or operated ships were stranded in the Strait because they couldn't cross it. TBS reported that among the?tankers were 12 crude oil tanks, 12 tankers with chemical or refined products, 9 car carriers, and 6?LNG tanks. Mitsui O.S.K. Lines said last month that one vessel it owns and operates suffered a minor damage in the area. No one was injured and the cause of the incident was not known. The vessel tracking data showed that a container ship belonging to the French shipping group CMA CGM also passed through the Strait on Thursday. Since the beginning of the Iran War, Chinese ships and Indian-flagged tankers have passed through the Strait. (Reporting and editing by Tomasz Januaryowski and Barbara Lewis; Additional reporting and reporting by Katya Glubkova)
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Zelenskiy accuses Russia 'of Easter escalation,' after massive attack kills 2
Officials said that a large-scale daytime Russian strike on Ukraine killed at least two people, as part of a "Easter escalation" as Moscow changes tactics to avoid Ukrainian air defenses. Since the start of the war, more than four-years ago, Russia has carried out most major drone and missile attacks at night. It has sent drones and missiles in the daytime on several occasions over the past few weeks. One strike, which took place on March 24, set a new record for 'the number of weapons that were used. Telegram said that drones killed one person each in the central Zhytomyr region and Kyiv on Friday. Volodymyr Zelenskiy, President of X, said: "Essentially, Russians have only intensified their strikes. They have turned what should have been a silence in the sky into an Easter escalation." Zelenskiy had proposed earlier this week that strikes be halted for the Easter holidays. He also said Ukraine would reciprocate, if Russia stopped its attacks on energy sector. Moscow rejected the idea. The purpose of these strikes during the day is obvious. "Russia is deliberately trying increase the number civilian casualties, disrupt life, cause fear and damage Ukraine's Infrastructure," said Prime Minister Yulia Shvyrydenko on X. VETERINARY CLINIC HIT BY STRIKE Ukraine's Air Force announced on Telegram that it has destroyed 515 of the 542 drones, and 26 of the 37 missiles fired by Russia. Air Force spokesperson Yurii Ihnat told state television on Friday that "we can see the enemy using new routes, drones they are continually modernising and new tactics." The strike in Kyiv's region damaged a veterinary hospital, along with private homes, residential buildings, and administrative buildings. Mykola Kalashnyk, the governor of Kyiv region, said that around 20 animals had been killed. Authorities reported that 18 buildings, including houses, were destroyed in Zhytomyr and more than 100 others were damaged. Poland's military has said that it scrambled its fighter jets despite the fact that there is no evidence of any violation of Polish airspace. According to Oleh syniehubov, the governor of Kharkiv's northeastern region, over two dozen people have been injured in missile, drone and bomb attacks during the past 24 hours. Kharkiv mayor Ihor Terekhov stated that "the current series of strike has been the most intense and heavy since the start the war, if not since the beginning the year."
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Moscow shoppers and travelers hit by payment system problems
The 'payment system' problem caused chaos for Russian shoppers on Friday, forcing the turnstiles of?the Moscow Metro?to let people enter without paying and even forcing visitors to a regional Zoo to pay in cash. It was not clear what caused the payment system problems, but shoppers and retailers reported that they had issues with Sberbank - the largest bank in the country - and payments using QR codes. The central bank did not respond to a comment request. Sberbank stated that the problems were resolved, but did not provide any details as to what caused them. Reporters said that shops and petrol stations asked customers to pay cash for an hour or so on Friday due to a 'problem with the payment system. ?TASS reported that the?Moscow Metro turnstiles allowed people to enter for free once. The card payment system at a zoo in Belgorod was down. Visitors were asked to pay cash. Moscow and the surrounding area has a total population of 22,000,000 people.
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Data shows that a container ship owned by CMA CGM and French-owned has passed the Strait of Hormuz.
MarineTraffic vessel tracker data indicates that a container ship owned by French shipping group CMA CGM has 'crossed the Strait of Hormuz. This is a sign Iran may not view France as a hostile country. The Malta-flagged Kribi owned by CMA CGM crossed the Strait of Hormuz on April 2, and is the 'first French-owned ship to make it through since the?U.S. - Israeli attacks in Iran began at the end February. The Strait was the route of about a fifth global oil and gas supplies before the war effectively closed it. The data did not reveal how the vessel that was sailing south along the coast of Oman had secured safe passage. LSEG shipping information showed that the vessel changed its destination on 'Thursday' to 'Owner France', signaling to 'Iranian authorities' the 'nationality' of its owner. The ship was originally bound for Pointe-Noire, in the Republic of the Congo. CMA CGM didn't immediately?respond? to a?request for comment. The French foreign ministry declined to comment. (Reporting from Dominique Vidalon in Paris, John Irish in Oslo and Nerijus Adomiaitis in Paris; editing by Inti Lauro).
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Sweden seizes sanctioned Oil Tanker Suspect of Being Source of Spill
The Swedish Coast Guard announced on Friday that it had seized a?tanker of oil in the Baltic Sea. It is believed to be part of the 'Russian shadow fleet' and the suspected source of an oil spill of 12 km off the island Gotland. In recent months, the Swedish Coast Guard increased its efforts to stop vessels that are?connected with Russia. It said that the tanker Flora 1 was seized just off Sweden's south coast. MarineTraffic's data shows that Flora 1 departed from Primorsk in Russia with a destination unknown. Coast Guard officials?said that the oil spill will not reach the shore. It stated that it had begun an investigation into a possible environmental crime. It stated that it believed the vessel was listed on the EU sanctions, but added that the status of its flag was unclear. The Swedish Minister of Civil Defence, Carl-Oskar Bohlin, said on X that the Russian shadow fleet, which consists of older, badly insured tankers, evades sanctions and poses a serious security and 'environmental threat. He specifically mentioned the Flora 1 as part his remarks. The government takes the incident seriously even though it is not a major spill. The European nations are intensifying their efforts to disrupt the shadow fleet of tankers that Moscow uses to finance its four-year-long war against Ukraine. Russia has called such actions hostile.
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Hyundai Motors flags shipping disruptions due to Middle East conflict
Hyundai Motor stated on Friday that the conflict in the Middle East was disrupting exports from Europe to North Africa. These vehicles typically transit through the Middle East. This highlights the growing strain on global supply chains. The disruption shows how the conflict is blocking key shipping routes and driving up costs. It also delays deliveries and adds pressure to the automaker's suppliers. Hyundai Motor, with its Kia Corp affiliate, is the third largest automaker in the world by sales. The company warned that the Iran War's impact would last even if it ended soon. Kim Dong-jo is a senior 'vice president in Hyundai Motor's Global Policy Office. He said that rebuilding supply chain would take some time. Kim said that even if the war ends, it would take time to rebuild the supply chains. He was speaking in Pyeongtaek - Dangjin Port southwest of Seoul, where government officials met with logistics companies and automakers to assess the effects of the conflict. The meeting was held at a port, where cars were parked on the wharf for a giant vehicle transporter that would carry 4,900 vehicles to the U.S. West Coast. Kim said that the rising costs of raw materials and logistics, linked to the conflict, were also putting pressure on parts suppliers and production. He added that Hyundai worked with its suppliers and government to minimize disruption. Hyundai Motor Group’s logistics unit, Hyundai glovis, has said that it is currently unable access certain Middle East routes. This forces it to temporarily store goods at alternative locations, until conditions stabilize. While the company's routes to North America’s west and east coasts were not significantly affected, it said that restricted access to Middle East and increased fuel costs were hindering operations and efficiency. South Korea's Trade minister Yeo Han Koo said that?some shipments are being diverted to intermediary hubs like Sri Lanka where they are held?while the companies reassess if transport can resume. Reports last month stated that used cars from Japan could not enter Sri Lanka due to the congestion in ports caused by cargo diverted away from Dubai during the Middle East conflict. South Korea's exports to the Middle East dropped 49% in March, despite their highest growth in nearly four decades. Auto exports were largely unchanged as supply disruptions and strong demand for eco-friendly vehicles offset each other. Hyundai Motor said Thursday that it sold 358 759?vehicles worldwide in March. This is down 2.3% compared to a year ago. Domestic sales fell by 2.0%, and overseas sales declined by 2.4%. The shares of Hyundai Motor and Hyundai Glovis fell by 1.2% and 0.7% respectively on Friday, compared to the benchmark KOSPI which rose 2.7%. Daewoung Kim reported from Pyeongtaek and Heekyong Ya, Jihoon Le and Hyunjoo Ji in Seoul, with additional reporting by Heekyong Yan, JihoonLee and Hyunjoo Ji in Seoul. Editing was done by Ed Davies.
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Australians cancel Easter Travel as fuel crisis worries grow
Elsa Ulcak, a Sydney retiree, is among the millions of Australians who travel over the long Easter weekend. She cancelled the trip she had planned with her husband this year because she couldn't justify how much fuel it would use. Ulcak, aged 67, said: "We usually travel to the countryside but, because of the current petrol price, we have decided to stay home this year." She said that a long trip is expensive and uses fuel which could be used for people in greater need. It's expensive to drive six or seven hours to the country. We also need to consider that working people require petrol and we are retired. "We normally go with a bunch of friends. Everyone cancelled." In Australia, the Easter long weekend tends to be one of the busiest times for travel. According to Roy Morgan, in 2025 more than 4.5 millions people were expected to travel during the Easter long weekend, spending A$11.1billion ($7.67billion) on their trip. The blockade of Strait of Hormuz and the Iran War, which began on February 28, have disrupted many plans for this year. Diesel and petrol were both over A$2.50 per litre last week, before the government reduced fuel taxes in an effort to bring down prices. Rachel Abbott, 27, a art director has also put her plans to travel this Easter on hold. She would normally go back to her home in north-east Victoria but the costs of flying and driving made her decide to stay in Sydney. She said, "Work has been very busy, flights are expensive and driving would be even more expensive." Stav Zottilis, 59 years old, is an aid worker who said that her plans for Easter were not affected by the Middle East conflict. However, this year, "it feels very different" because of the conflict. "I'm not sure that we should celebrate. It's like the world has a shaky feel, it is unpredictable. "I feel like we have no idea where the world is going. She said that while she has felt the pressure of rising prices at the supermarket and petrol stations, she is more concerned for those living in conflict zones. "I have been an overseas aid worker since 25 years and lived in Asia for fourteen years. I know that people who live nearer the conflict must forgo food. She said that it was not just a matter of going interstate or along the coast like many Australians. Reporting by Christine Chen in Sydney and Cordelia Husu; editing by Kim Coghill.
Trump: US can control Strait of Hormuz in more time
On Friday, President Donald 'Trump said that the United States. The Strait of Hormuz can be opened 'with a little more time,' as pressure mounts on his administration to resolve a war with Iran quickly.
Trump stated in a Truth Social post that "With just a little bit more time we could easily OPEN THE HORMUS STRAIT,?TAKE THE OIL& MAKE A FAVORITE."
Nearly five weeks since it began with a U.S. and Israeli aerial assault, war in Iran continues to?spread chaos throughout the region,?roiling financial markets, thereby increasing the pressure on Trump for a swift resolution of the conflict.
Iran has closed the Strait of Hormuz, a vital waterway that carries a 'fifth of all oil consumed in the world, as retaliation to U.S. and Israeli strikes that began in late February. As energy prices rise, governments all over the world have made reopening the Strait of Hormuz a priority.
In his speech on Wednesday night, Trump reiterated 'his threats against Iran’s civilian power plants, and gave no timeline for ending hostilities. This prompted Iran to 'vow retaliation,' which subsequently lowered share prices. (Reporting from Ryan Patrick Jones and Nate Raymond, Boston; editing by Michelle Nichols).
(source: Reuters)