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Exclusive: China's Shandong Port bans US-designated vessels
Three traders reported that Shandong Port Group had banned U.S. sanctioned tankers calling at its ports. The province in eastern China is home to independent refiners who are the largest importers of oil coming from countries under U.S. sanctions. Ship tracking data from Kpler revealed that the province imported 1.74 million barrels of oil per day (bpd), or 17% of China’s total imports, from Iran, Russia, and Venezuela in 2017. The traders said that if the ban is enforced, it will increase shipping costs for independent refining companies in Shandong who are the main purchasers of discounted sanctioned oil from the three countries. Washington increased sanctions last month against companies and shadow fleets that deal in Iranian oil. Donald Trump is expected to continue tightening sanctions on Iran when he takes office in January. Traders said the ban could reduce imports to China, which is the largest oil-importing nation in the world. Two traders confirmed the Shandong Port Notice issued on Monday. A third trader also confirmed it. The notice prohibits ports from docking, unloading or providing ship services for vessels listed on the Office of Foreign Assets Control (OFAC) list maintained by the U.S. Department of Treasury. Shandong Port is responsible for the major ports along China's East Coast, including Qingdao Rizhao Yantai. These are important terminals used to import sanctioned crude oil. Shandong Port has not responded to any calls or emails requesting a comment. SHANDONG SAYS THE BAN WILL HAVE A 'LIMITED EFFECT' Shandong Port, in a second notice, published on Tuesday and also reviewed by., said that it expected the shipping ban would have only a small impact on independent refiners, as the majority of oil sanctioned is carried on non-sanctioned tanks. The notice stated that the ban was imposed after Eliza II, a tanker sanctioned by the government, unloaded at Yantai Port early in January. Tanker tracking company Vortexa estimated that eight very large crude carriers with capacities of up to two million barrels discharged mainly Iranian oil in Shandong during December. The vessels include Phonix Vigor Quinn Divine. All are sanctioned by U.S. Treasury. According to Michelle Wiese Bockmann of maritime data group Lloyd's List Intelligence, the active shadow fleet transporting Iranian oil, Russian oil and Venezuelan crude is estimated at 669 tankers. She added that of the 250-300 tankers involved in shipping Russian crude, only Sovcomflot and Iran's largest tanker operator NITC were excluded. Treasury imposed sanctions between October and December on 35 tankers, which it claimed were part of Iran's "ghost Fleet", excluding vessels operated by NITC. Washington imposed separate sanctions in early 2024 on Sovcomflot. Sources told The Weekly that the outgoing Biden Administration plans to impose sanctions against over 100 tankers that are involved with Russian oil. The switch to non-sanctioned vessels could increase costs for refiners, who have been struggling in Shandong with low margins and slow demand. The shares of Frontline, the leading tanker operator, jumped more than 9% after Tuesday's port ban news. This is due to an expected tightening in tanker availability. Shipping analysts on Tuesday said that the U.S. Defense Department added China's biggest shipping company COSCO on Monday to a list it says includes companies working with China's Military. This could discourage charterers from using COSCO's tanks and increase the tightness in ships available for hire. Last month, the price of Iranian crude oil sold to China reached its highest level in many years as new U.S. sanctions reduced shipping capacity and increased logistics costs. The Iranian floating crude oil storage is at a record high for the past 12 months, with 20 million barrels. Furthermore, the Iranian export fleet has been stretched to its limit due to high exports per vessel. Goldman Sachs analysts stated last week that this has historically been linked to a subsequent decline in Iran's oil exports. By the second quarter 2025, the investment bank anticipates that Iran's crude oil supply will drop from 3.25 million to 300,000 barrels per day. The Biden administration is planning to increase sanctions against Moscow for its war in Ukraine. This could support the prices of Russian oil. Reporting by Aizhu, Siyi Liu, and Trixie Yap from Singapore; Colleen, Howe, and Jonathan Saul, in Beijing; Florence Tan, Lewis Jackson, and Mark Heinrich, in London; and writing by Lewis Jackson, Ed Osmond and Sharon Singleton.
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Expand Energy still on track to boost United States gas output to 7 bcfd in 2025, CEO states
Expand Energy, the biggest U.S. natural gas producer, stays on track to boost output to around 7 billion cubic feet each day (bcfd) in 2025, CEO Nick Dell' Osso stated at the Goldman Sachs Energy, CleanTech && . Utilities Conference on Tuesday. With the weather condition turning incredibly cold today and gas. demand and rates rising, Dell' Osso said he has actually received a lot. of questions about whether Expand would enhance output faster than. formerly forecasted. The response is no. Nothing has changed for us, Dell' Osso. stated. You do not want to grow for a season, you wish to grow for. something that is resilient over a number of years. After gas costs collapsed in the first half of 2024,. numerous U.S. energy firms decreased gas output. Those decreases. triggered annual production in 2024 to decline for the first time. given that the COVID-19 pandemic cut need for the fuel in 2020. So now, we can use some of that capability we (deferred). in 2024 ... to balance out declines, Dell' Osso said. We can level. out our production (at) a good level in the variety of 7 bcfd. Broaden, which was formed by the merger of Chesapeake Energy. and Southwestern Energy, said it produced about 6.75 bcfd of gas. equivalent in the 3rd quarter of 2024. Shares of Expand were trading around $103.30, their highest. because November 2022. The U.S. Energy Information Administration projected overall. U.S. gas output would rise to 103.7 bcfd in 2025 after decreasing. to 103.2 bcfd in 2024 from a record 103.8 bcfd in 2023. One billion cubic feet of gas can supply about 5 million. U.S. homes for a day. After average gas costs at the U.S. Henry Center benchmark. in Louisiana collapsed to a four-year low of. around $2.19 per million British thermal systems (mmBtu) in 2024,. energy analysts forecast prices would rise to a three-year high. of $3.44 in 2025. Dell' Osso said U.S. demand for gas for export was on track. to increase by around 5.6 bcfd by the end of 2026 as new liquefied. natural gas (LNG) export plants enter service. Plants under building and construction consist of Venture Global LNG's. Plaquemines in Louisiana, Cheniere Energy's Corpus. Christi growth in Texas and Exxon Mobil/QatarEnergy's. Golden Pass in Texas. The U.S. presently exports about 13% of the gas it produces. as LNG. That percentage will likely grow in coming years as more. export plants enter service. Dell' Osso said he wishes to offer more gas to customers at. global prices, noting 15% -20% of total sales would be a. good target. With only one global supply deal and a. lot of gas to sell offer the merger, he said it would likely. take a very long time before Expand's global sales reach that. level.
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Male implicated of eliminating woman in New york city subway fire pleads innocent
The man accused of killing a. lady sleeping on a New york city City train car by setting her on. fire after what prosecutors say was a night of heavy drinking. pleaded not guilty to charges of murder and arson at a court. hearing on Tuesday. A grand jury has actually indicted Sebastian Zapeta, 33, of one count. of first-degree murder, 3 counts of second-degree murder and. one count of first-degree arson in the first degree for the. killing of Debrina Kawam, 57. After his arrest, Zapeta told investigators that he typically drinks. greatly to the point of blacking out, and that he had actually done so. prior to Kawam was killed, according to a court filing by. district attorneys on Tuesday. Crime remains relatively unusual on the city's train, among. the oldest and biggest transit systems worldwide, however the New. York Police Department acknowledged this week that attacks like. Kawam's violent killing can horrify New Yorkers. Numerous were frightened by a quick video of Kawam swallowed up in. flames near the open doors of a train car, taped by a. onlooker on the platform. According to the authorities account, Zapeta utilized a lighter to spark. the clothes of Kawam, who seemed sleeping on a seat in a. fixed F train automobile at the Coney Island-Stillwell Opportunity. train station at about 7:30 a.m. on Dec. 22. He then used a t-shirt to fan the fire, the cops complaint. said. Kawam was noticable dead at the scene after the fire was. snuffed out. The city's medical inspector said the cause of. death was smoke inhalation and thermal injuries. It took more. than a week to determine her utilizing finger print analysis. Zapeta is a Guatemalan resident, federal authorities have said, who. has actually been residing in a homeless shelter in Brooklyn and working as. a roofing professional in the neighboring district of Queens, according to the. New York City Cops Department. When authorities investigators showed Zapeta video of Kawam being set on. fire, he informed them that it was him in the video, however he did not. recognize Kawam nor remembered it happening, according to the. court filing by the Brooklyn district attorney's workplace. Oh, damn, that's me, he said as he saw the video in. the cops interview, which was translated from Spanish in the. court filing. I actually don't keep in mind. He stated he was very. sorry for Kawam. He stated he had been consuming beers considering that the night. before, and recalled getting up on the F train. Often when I drink and erase the memory and I don't. understand, he stated. When I wake up, I'm already in your home. currently sleeping. I get up when I'm currently in your home. Or there. are times when I awaken and I'm already at the train station,. or on the train.. He was arraigned in the Kings Supreme Court in Brooklyn in short. hearing before Judge Danny Chun on Tuesday morning, appearing in. orange jail clothing with his hands cuffed behind his back and. his public defender and a Spanish interpreter at his side. His. next court hearing is set for March 12, Kawam was from Toms River, a coastal town in New Jersey,. and, like Zapeta, had actually also spent time in the city's homeless. shelter system, according to Mayor Eric Adams. About 4 million trips are taken each weekday on the city's. train, where serious criminal activity, mainly thefts, declined for. a second year in a row in 2024, down 5.4% from the previous. year, the New York Authorities Department stated. Killings have actually increased, nevertheless. Since November, there had. been 9 homicides reported on the subway in 2024, compared to. 5 in the very same duration in 2023, according to police information. Last month, a jury acquitted Daniel Penny of criminally. irresponsible murder in the death of Jordan Neely, a homeless. former Michael Jackson impersonator, on the city's train. Neely. had actually been screaming madly at travelers on a subway train when. Cent got him from behind and limited him in a chokehold. for numerous minutes. New York Cops Commissioner Jessica Tisch stated on Monday she. was sending more officers to patrol the subway in response to. Kawam's killing and other scary random acts of violence. Declining criminal offense numbers are considerable, but we still must. do more, due to the fact that individuals do not feel safe in our trains, Tisch. stated. If convicted on any of the charges, Zapeta faces an optimum. sentence of life in prison without the possibility of parole. The U.S. Department of Homeland Security has said that Zapeta. had gotten in the nation unlawfully, and would eventually look for to. deport him.
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Man implicated of killing woman in New York subway fire pleads not guilty
The guy accused of killing a. female sleeping on a New York City subway vehicle by setting her on. fire pleaded innocent to charges of murder and arson at a. court hearing on Tuesday. A grand jury has arraigned Sebastian Zapeta, 33, of one count. of first-degree murder, 3 counts of second-degree murder and. one count of first-degree arson in the very first degree for the. killing of Debrina Kawam, 57. Criminal activity remains reasonably rare on the city's subway, one of. the oldest and biggest transit systems in the world, however the New. York Cops Department acknowledged today that attacks like. Kawam's violent killing can terrify New Yorkers. Many were horrified by a quick video of Kawam swallowed up in. flames near the open doors of a train vehicle, taped by a. frightened spectator on the platform. According to the authorities account, Zapeta utilized a lighter to. spark the clothes of Kawam, who seemed sleeping on a. seat in a fixed F train vehicle at the Coney Island-Stillwell. Opportunity train station at about 7:30 a.m. on Dec. 22. He then utilized a t-shirt to fan the fire, the police complaint. said. Kawam was noticable dead at the scene after the fire was. snuffed out. The city's medical inspector said the cause of. death was smoke inhalation and thermal injuries. It took more. than a week to identify her utilizing fingerprint analysis. Zapeta is a Guatemalan resident, federal officials have stated,. who has actually been living in a homeless shelter in Brooklyn, according. to the New York Authorities Department. He was arraigned in the Kings Supreme Court in Brooklyn in. quick hearing before Judge Danny Chun on Tuesday morning,. appearing in orange prison clothes with his hands cuffed behind. his back and a Spanish interpreter at his side. Kawam was from Toms River, a coastal town in New Jersey,. and, like Zapeta, had actually likewise hung around in the city's homeless. shelter system, according to Mayor Eric Adams. About 4 million journeys are taken each weekday on the city's. subway, where serious crime, primarily thefts, declined for. a 2nd year in a row in 2024, down 5.4% from the previous. year, the New york city Authorities Department stated. Killings have actually increased, nevertheless. Since November, there had. been 9 murders reported on the subway in 2024, compared to. five in the very same period in 2023, according to police information. New York Authorities Commissioner Jessica Tisch said on Monday. she was sending more officers to patrol the system in reaction. to Kawam's killing and other frightening random acts of. violence. Decreasing crime numbers are significant, however we still must. do more, due to the fact that people do not feel safe in our subways, Tisch. said. If convicted on any of the charges, Zapeta faces a maximum. sentence of life in jail without the possibility of parole. The U.S. Department of Homeland Security has stated that Zapeta. had gone into the country unlawfully, and would ultimately look for to. deport him.
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Finland recuperates anchor in Baltic Sea cables examination
Finnish police said on Tuesday they had recovered a lost anchor from the seabed as part of an investigation of presumed sabotage versus power and internet cables in the Baltic Sea. Finland last month took the Eagle S tanker carrying Russian oil on suspicion that the vessel had actually harmed the Finnish-Estonian Estlink 2 power line and four telecoms cables by dragging its anchor across the seabed. The place where the anchor was discovered is along the route of the Eagle S ... towards the western end of the drag trace found on the seabed, Finland's National Bureau of Examination ( NBI) stated in a statement. A Finnish lawyer representing United Arab Emirates-based Caravella LLC FZ which owns the Eagle S, has stated Finland hijacked the vessel at sea and must release it, a request that was rejected by a court on Friday. The company's attorney and Caravella LLC FZ did not instantly respond to a request for talk about Tuesday. Pictures of the Eagle S taken considering that the event reveal the vessel is missing its port side anchor. Baltic Sea nations are on high alert after a string of power cable, telecom link and gas pipeline blackouts considering that Russia attacked Ukraine in 2022. The NATO military alliance has said it will boost its presence in the region. The anchor was recovered from the seabed with the aid of Finland's border guard and defence forces along with the Swedish navy, the police said. It will add to the progress of the criminal investigation, and it is now subject to forensic analysis, NBI Investigator Superintendent Risto Lohi stated in the statement.
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Utair Boeing 737 makes emergency situation landing in Moscow, Russian agencies say
Russian airline company Utair made an emergency situation landing at Moscow's Vnukovo Airport on Tuesday, Russia's RIA news company reported. The Boeing 737 airplane with 173 guests on board was flying from St Petersburg to Samarkand in Uzbekistan however landed securely at Vnukovo, RIA reported. TASS news company reported that Utair stated the emergency situation landing was due to a stabiliser malfunction. Utair and Vnukovo airport did not immediately react to Reuters' requests for comment. RIA pointed out the airline as stating all guests and team were unscathed. Russia presently does not have sufficient aircrafts to fulfill need for flight, which is rising as Moscow's war effort fuels financial growth, driving up incomes and individuals's tendency to spend. Western sanctions over Moscow's February 2022 intrusion of Ukraine have cut off the supply of planes and parts, which domestic production has been unable to replace.
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Jordan buys estimated 60,000 T wheat in tender, traders say
Jordan's state grains buyer purchased about 60,000 metric lots of difficult milling wheat to be sourced from optional origins in a global tender on Tuesday, traders stated. It was thought to have been bought from trading house CHS at an approximated $268.90 per lot, cost and freight consisted of ( c&& f), for shipment in the first half of March, they stated. Traders reported these approximated offers from other trading homes under the same terms: Cargill $270.50, Buildcom $272.77,. Ameropa $274.90, Aston $278, Viterra $282 and Al Dahra $283. Traders said they received signs Jordan will provide a. brand-new tender in the coming days for 120,000 tons of wheat. Offers. are anticipated to be sent on Jan. 14, with shipment in the. 2nd half of March, complete month of April and very first half of May. A separate tender from Jordan seeking 120,000 lots of animal. feed barley closes on Wednesday. Reports reflect evaluations from traders and even more. quotes of rates and volumes are possible later.
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Mesa Air to offer 18 Embraer jets to United Airlines
Mesa Air Group will offer 18 Embraer airplane to United Airlines for about $ 229.1 million and utilize the profits to cut financial obligation, the regional airline company operator said on Tuesday. Shares of Mesa, the moms and dad company of Mesa Airlines, increased more than 10% before the bell. Most of the aircraft of the Phoenix, Arizona-based business are operated under a contract with United, where they fly under the United Express brand name. Mesa finished the sale of eight of the 18 aircraft on Dec. 31 and expects to close the rest by the end of this month. The company expects to utilize $142.4 countless the gross proceeds from the sale to pay off associated financial obligation, Mesa said in a regulative filing. Mesa also stated it had actually entered into a different handle a. 3rd party on Dec. 24 to sell 15 used Bombardier. CRJ-900 airframes for about $19 million. The company plans to utilize the money from that deal to. pay down its loan with the U.S. Treasury.
Nairobi Securities Exchange enables Kenya Airways shares to trade once again
Nairobi Securities Exchange has actually raised a suspension on trading shares of national carrier Kenya Airways, the bourse stated on Monday.
The suspension on the trading of Kenya Airways PLC shares was lifted following the company's recent performance which saw the business record a profit after tax and the withdrawal of the
National Air Travel Management Costs 2020, the bourse said in a declaration.
Kenya Airways' shares were suspended from trading in 2020, when at the time the government had announced strategies to renationalise the airline company. The plan did not remove.
Among Africa's three biggest carriers, Kenya Airways slid into insolvency in 2018 after an expansion drive left it with numerous countless dollars in financial obligation.
On its last day of trade on March 2, 2020, the stock closed at 3.83 shillings a share.
It posted an operating revenue of 10.53 billion shillings ($80.38 million) in 2023, the
first considering that 2017.
(source: Reuters)