South-East Asia








LNG Transportation

Transport Infrastructure

Transport Infrastructure

Panama auditor files lawsuit to cancel CK Hutchison's port contract

Anel Flees, Panama's comptroller-general, announced on Wednesday that he filed a lawsuit in the Supreme Court of the country against a contract for the operation of ports near the Panama Canal held by a firm owned by Hong Kong's CK Hutchison. Flores stated that the two lawsuits were filed to declare the unconstitutionality of the port contracts for Balboa & Cristobal and nullify them. The Supreme Court must still accept the request for the complaint of the comptroller. The lawsuits are the result of a month-long audit led by Flores who publicly complained about the contract not serving the nation's...

Transport Infrastructure

LSEG data shows that India and Taiwan were the top two buyers of Russian naphtha during June.

According to traders and LSEG, India and Taiwan were the top destinations for Russian seaborne Naphtha exports during June. Lower volumes and domestic demand attracted buyers. Naphtha, a feedstock used in the petrochemical sector, is a key ingredient for the production of olefins. These are then used as a raw material to make a variety of products such as plastics. The main destination for Russian naphtha has been the Middle East and Asia since the European Union's embargo against Russian oil products came into force in February 2023. In June, the total export of naphtha from Russian ports to India...

Transport Infrastructure

Houthis claim to have 10 crew members from a Greek-operated vessel they sank in Yemen

Houthis, who are Iran-aligned and live in Yemen, said on Monday that they had rescued ten seafarers off the Greek cargo ship EternityC which they had attacked and sunk earlier this month in the Red Sea. Eternity C, flying the Liberian flag, was the second vessel to sink in Yemen this month following repeated attacks from Houthi militants using sea drones and rocket propelled grenades. The Magic Seas was another Greek-operated ship that had been lost days before. The Houthis have been resuming their attacks on ships, having hit over 100 vessels between November 2023 to December 2024 as a...

Transport Infrastructure

Sources say that Malaysia's MMC port is lining up investors for its October IPO.

MMC Port Holdings is looking to finalise the cornerstone investor list as soon as August. This will be in advance of an October listing on Bursa that could raise more than $1.5 billion. According to LSEG, the IPO would be Malaysia’s biggest since IHH Healthcare’s $2.1 billion debut back in 2012 and Southeast Asia’s largest since Indonesian technology firm Bukalapak raised $1.55 billion in 2021. Sources said that the country's largest port operator, MMC Corp., which is a fully owned subsidiary, has been in discussions with over 20 cornerstone investors. Cornerstone investors tend to be large institutional funds who commit...

Transport Infrastructure

Anti-piracy group reports that ship piracy and robberies have increased 83% from Jan to Jun in Asia

According to the Information Sharing Centre, the intergovernmental antipiracy group ReCAAP, there were 95 piracy-related and armed robberies on ships in Asia between January and June of this year. This is an 83% rise compared to last year's same period. The watchdog flagged the Straits of Malacca as a concern area. In these waters, there were 80 incidents over the period compared with 21 in the first six months of 2024. The majority of incidents that occurred in the Straits of Malacca or Singapore were minor, and 90% of the times there was no injury to the crew. ReCAAP's information...

Transport Infrastructure

REFILE: How US buyers of critical mineral bypass China's Export Ban

According to records from customs and shipping, at least one Chinese company is involved in this trade. China is the largest supplier of antimony, gallium, and germanium used in semiconductors, telecommunications, and military technology. Beijing banned the export of these minerals to America on December 3, following Washington's crackdown against China's chip industry. The shift in trade flows highlights the struggle for vital minerals, and China's struggle for enforcement of its curbs. It is competing with the U.S. to achieve economic, military and technology supremacy. Trade data shows that U.S. shipments are being rerouted via third countries, a problem which...

Transport Infrastructure

Brazil's corn harvest is a challenge for the export season

Analysts say that Brazil's corn will face new challenges as the shipping season begins, with logistical issues possible, China buying less and the United States expected to be a strong competitor. They said that corn exports will increase in volume for 2024/25, but they could also face bottlenecks, as they would have to compete with each other for space in the ports, if China's continued demand for Brazil’s record soybean harvest in 2025. According to government projections the corn production in Brazil is expected to reach 128.3 millions metric tons this season, a 11% increase from last season's cycle. StoneX,...

Transport Infrastructure

Source: Top Turkish officials will visit Pakistan on Wednesday

A Turkish diplomatic source confirmed on Tuesday that the Turkish foreign and defense ministers would visit Pakistan on March 13 to meet with Prime Minister Shehbaz Shariff and discuss bilateral relations, regional issues and cooperation in the defence industry. The Turkish government has close ties to Pakistan, and it expressed its solidarity with Pakistan during the conflict between India and Pakistan in May. This angered India. Sources said that Hakan Fidan, Turkey's Foreign Minister, will visit Ankara to express the desire of the country to strengthen ties across all fields and offer Ankara its support for taking steps towards regional...

Transport Infrastructure

Platts removes three floating storage units in its Asia fuel oil assessment

S&P Global Platts, a commodities pricing agency, has informed its subscribers that it will no longer include three floating storage units in its assessment of Singapore fuel oil and bunker fuel ex-wharf cargoes. Platts stated in a July 3 note that the vessels CS Innovation and CS Brilliance would no longer be reflected in its process of market-on-close assessments as additional loading points. The vessels are operated as floating storage units by CSZ Shipping CSHA Shipping and CSHB Shipping at Tanjung Pelepas within the Tanjung Pelepas Port Limits, in southern Malaysia’s Johor State. Platts stated that the exclusion was a...

Transport Infrastructure

MMC Port is getting closer to launching Malaysia’s largest IPO in the last 13 years

The website of the Securities and Exchange Commission showed that MMC Port Holdings had filed a draft prospectus at the securities regulator on Wednesday. This could have been Malaysia's largest IPO in the last 13 years. The draft prospectus revealed that MMC Corp., the parent company, which owns MMC Port Holdings at 100%, would sell up to 30% of its stake in the port operator during the initial public offering. In February, it was reported that MMC Port could earn more than 6 billion Ringgit ($1.43billion) in the second half this year. This information came from two sources who were...

Transport Infrastructure

Ivory Coast targets 50% cocoa production locally within two years

The head of the national regulator announced that Ivory Coast will increase its domestic cocoa production to 50% within two years. This is up from the current 42%, he said. Yves Brahima Kone, the managing director of Ivory Coast’s Coffee and Cocoa Council, said that cocoa processing was essential to boost local industry and support economic growth. Kone, who spoke at the opening of the Abidjan plant in Abidjan, the commercial capital of Ivory Coast's country, said that the Ivory Coast has invested to boost the domestic industry. He said that five plants will be completed and operational in two...

Transport Infrastructure

Air India to undergo annual audit by India's watchdog within days of deadly crash

A government memo revealed that ten officials from India's aviation watchdog would visit Air India headquarters for an audit on Tuesday. This comes as the airline faces intense scrutiny following a plane crash which killed 271 people. Air India is not being audited because of the crash, but it has received warnings from the aviation safety watchdog for lapses. It has also cut its routes citing the need for "operational security" after the deadly June 12 crash in India's Ahmedabad. During the visit, officials from the Directorate General of Civil Aviation will examine documents related to Air India's operations, audit...

Passenger Transportation Services

Passenger Transportation Services

Thai Airways shares surge after resuming trading

Thai Airways International stock prices surged up to 231% when shares resumed trading Monday, before dropping back down later. At 12:50 pm (0550 GMT), the stock price was up 186% to 9.5 Baht ($0.2872). In 2020, the national carrier entered a bankruptcy-protected restructure at the start of the pandemic. It was in trouble long before the pandemic. The airline has been reporting losses almost every year since 2012. This is because low-cost carriers have been eroding its market share in Southeast Asia, particularly on short haul routes. Thai Airways received a debt restructuring of 400 billion baht when COVID hit....

Passenger Transportation Services

FAA audit finds that SkyWest maintenance issues are not resolved by FAA

A government report on Thursday said that the Federal Aviation Administration failed to address persistent problems with SkyWest Airlines maintenance practices, which its inspectors feared could lead to an accident. SkyWest, the largest regional airline in the United States, operates flights for United Airlines as well as Delta Air Lines and American Airlines. A report by the Transportation Department Office of Inspector General found that FAA safety inspectors had been unable to resolve issues related to SkyWest's remote maintenance practices over a period of more than four year. The report stated that under this practice, which was introduced in 2018,...

Passenger Transportation Services

Singapore Airlines' first quarter profit drops as Air India losses weigh

Singapore Airlines reported a 58.8% drop in its first-quarter net profits on Monday. Losses in associated companies including Air India and lower cash reserves were the main reasons. Air India was the main reason for losses, as the city-state flag carrier posted a loss of S$122m from its associated companies. Air India began accounting for equity in December of last year, after Vistara was fully integrated into Air India. Air India's performance was not included in the comparison of prior years. Singapore Airlines reported a net profit of S$186 (144.89) million for the three months ended June 30. This compares...

Transportation

Ground Freight

Ground Freight

Trafigura warned Prateek Gupta about nickel cargoes in a court document

Gupta claimed in a court filing that a letter from Trafigura sent to Prateek Gupta’s company, warning them not to raise suspicions with Citi regarding nickel cargoes, provided evidence that the commodity traders were aware of fraud. In February 2023, Geneva-based Trafigura sued Indian businessman Gupta claiming it was the victim of $600-million nickel cargo fraud. Gupta had previously claimed in his defense that Trafigura employees were responsible for the scheme at the heart of the case. Gupta’s lawyers added the new letter to an amended defence document filed last week, which was released by court. Trafigura is a major...

Ground Freight

In June, the share of Russian aluminum in LME storages fell as Indian metal rose.

LME data on Thursday showed that the proportion of aluminium stock of Russian origin registered in warehouses at the London Metal Exchange fell to 66% from 69% in may, but the proportion of Indian origin rose to 34%. The LME has prohibited metal produced in Russia from its warehouse system after April 13, 2024 to comply with U.S., British and European sanctions imposed due to Russia's invasion of Ukraine 2022. Metal made before this date can still trade. Stocks of aluminium with Russian origin, or those on warrant The end of June saw little change, with 221,875 tons. A LME...

Ground Transportation

In May, the share of Russian aluminum in LME storages dropped as Indian metal surged.

Data from the London Metal Exchange showed that the proportion of aluminium with Russian origin registered in the warehouses of the London Metal Exchange fell to 69% from 89% in the month of April. The percentage of Indian origin increased to 30% from 10%. To comply with U.S., British and European sanctions over Russia's invasion of Ukraine in 2022, the LME has banned all metals produced in Russia from its warehouse system after April 13, 2024. Metal made before April 13, 2024 can still be traded. Stocks of aluminium with Russian origin, or those on warrant The number of metric...

Ground Transportation

Sources say RPT Shein will set up a huge warehouse in Vietnam to hedge US tariffs

Two people with knowledge of the deal said that Shein, an online retailer specialising in fast fashion, is leasing its first warehouse in Vietnam. This could help reduce the company's exposure to the unpredictable trade tensions between the U.S. and China. Shein, a company founded in China that sells items such as $5 bike shorts or $18 sundresses has agreed to lease 15 hectares for an industrial warehouse near Ho Chi Minh City. This is the commercial and trading center of Vietnam, according to the two sources, who declined to identify themselves because the information wasn't public. A tit-fortat China-U.S....

Ground Transportation

In April, the share of Russian aluminum in LME storages increased to 89%.

LME data released on Monday showed that the proportion of aluminium with Russian origin registered in warehouses at the London Metal Exchange increased to 89% from 88%, and the proportion of Indian origin decreased to 10% from 11 %. To comply with U.S., British and European sanctions over Russia's invasion of Ukraine in 2022, the LME has banned all metals produced in Russia from its warehouse system after April 13, 2024. Metal made before April 13, 2024 can still be traded. Stocks of aluminium with Russian origin, or those on warrant The end-of-April figure was 223,900 tons, up from 200...

Ground Freight

The LME now has 88% of Russian metal, up from 78% before.

LME data on Thursday showed that the proportion of aluminium with Russian origin registered in warehouses at the London Metal Exchange increased to 88% from 75%, and the percentage of Indian origin decreased to 11%. To comply with U.S., British and European sanctions over Russia's invasion of Ukraine in 2022, the LME has banned all metals produced in Russia from its warehouse system after April 13, 2024. Metal made before April 13, 2024 can still be traded. Stocks of aluminium with Russian origin, or those on warrant The end-of-March figure was 200,700 tons, up from 155125 tons in February. The...

Ground Transportation

Increased Russian metal stock in LME warehouses due to Indian aluminium outflow

LME data released on Monday showed that the proportion of aluminium with Russian origin registered in warehouses at the London Metal Exchange increased to 75% from 67%, and the share of Indian origin decreased to 24%. According to traders, the majority of the aluminium in LME registered warehouses at Port Klang in Malaysia is of Indian origin. This is what Western consumers are looking for, as many have refused to purchase metal made in Russia ever since Russia invaded Ukraine three years ago. Stocks of aluminium with Russian origin, or those on warrant At the end February, the total metric...

Ground Freight

The LME's available Russian-origin aluminum stocks rose in January

LME data on Monday showed that the number of Russian-made aluminium in London Metal Exchange storage warehouses was up in January compared to December. The amount of Indian metal, however, fell. According to traders, the majority of the aluminium in LME registered warehouses at Port Klang in Malaysia is of Indian origin. This is what Western consumers are looking for, as many have refused to purchase metal made in Russia after it invaded Ukraine almost three years ago. Stocks of aluminium with Russian origin, or those on warrant At the end January, the total reached 164 475 metric tonnes, or...

Ground Freight & Logistics

Report: Supply chain companies in Vietnam face disruptions due to stricter driving laws

According to a survey published on Tuesday, the stricter traffic regulations in place since the beginning of the year have caused disruptions and increased costs in the transport and logistics industry in Vietnam. New road safety regulations have increased the fines for serious traffic offences such as disregarding traffic lights. The new regulations are also more significant for the logistics industry in Southeast Asia's industrial and export hub because they require truck drivers to take a 15-minute break after every four hours driving. In a survey of more than 460 employees and executives, mainly from the logistics sector and distribution,...

Ground Freight

Vitol plans to cut costs by taking aluminium from LME storage facilities in Malaysia, sources state

Energy and commodities trader Vitol is trying to lower its storage costs with plans to get rid of significant quantities of aluminium from London Metal Exchange (LME) storage facilities in Port Klang, Malaysia, 3 sources acquainted with the matter said. LME approved storage facilities charge 56 U.S. cents per metric lot to save aluminium in Port Klang, about 5 times more than rent charged for metal outside the LME's warehousing system. Vitol, which decreased to discuss its strategies, is increase its existence in international metals markets after a previous foray into base metals ended in 2014. It preserved a presence...

Ground Freight

Gupta granted hold-up on document disclosure in long-running Trafigura case

Prateek Gupta, who is accused of fraud by commodity trading company Trafigura, on Friday secured a delay up until completion of February in disclosure of documents appropriate to the longrunning case. Gupta's attorneys told a London court in March that he had run out of funds for legal fees and wanted to reach a settlement. Trafigura filed the case in February 2023, alleging systematic. scams by the Indian business owner and companies managed by him. Gupta has stated in his defence that Trafigura personnel created. the scheme at the centre of the case, to substitute low-value. products such as scrap...

Ground Freight

Singapore Post in special talks for Australia service sale

Singapore Post Ltd stated on Tuesday it remained in unique talks with a 3rd party for a. possible sale of its Australia company, while mentioning that no. conclusive offer has actually been reached. The business's Australia sector consists of fourth-party. logistics services, third-party logistics solutions consisting of. transportation and circulation, and last-mile courier shipment,. along with warehousing services. Singapore Post had started a restructuring procedure in. May 2023, in a bid to revive capital returns to. investors. The business boosted its Australian presence in 2021 by. increasing its stake in Freight Management Holdings, a last-mile. parcel shipment service. Continuing its...