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Hapag-Lloyd CEO: Trade truce between the US and China boosts Hapag-Lloyd
Hapag-Lloyd saw an increase in freight traffic between the United States of America and China this week, after a cooling down in trade tensions between the two countries. The U.S. & China agreed on Monday to reduce steep tariffs at least for 90 days. This ends a trade conflict between the two largest economies in the world that had sparked fears of global recession. Rolf Habben Jansen, the CEO of Rolf Habben Jansen said on Wednesday that he expected an increase in trade between China and the U.S. This is what has already been seen over the past few days. He added that it remains to be determined how long the process will take, and whether or not demand will increase. In the first few days, bookings for U.S. to China traffic were up by 50% week-on-week at the German container shipping company. Hapag-Lloyd's share price was up 7.3% at 1341 GMT. The company reported earlier on Wednesday a 27% increase in earnings before interest and taxes, or EBIT. This was partly due to many Chinese manufacturers bringing forward consignments for the United States, anticipating trade barriers. Habben Jensen, the company's CEO, said that it was using ships of various sizes to adapt to a volatile market. He said, "Our problem, of course is that ships are unfortunately not elastic." The two sides announced that under the temporary truce the U.S. would reduce the extra tariffs on Chinese imports that it imposed last month, from 145% to 30 % for the next three-month period, and Chinese duties on U.S. imported goods will drop to 10 % from 125%. Hapag has confirmed that it expects its EBIT for the full year to range between breakeven and 1,5 billion euros.
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Spot premiums on Russian June ESPO blend decline amid OPEC-driven increase in supply
Four traders reported that spot premiums for Russian ESPO blend crude oil dropped in June compared to May, amid abundant supply following OPEC+'s agreement to increase output for a 2nd month. They said that the premiums for June-loading shipments fell to between $1.50 and $1.70 per barrel compared to ICE Brent, on a basis of delivered cargoes in Chinese ports. Two traders reported that May-loading crude oil cargoes were trading at premiums of up to $2.50 against ICE Brent despite a large export plan. Early in May, the producer group OPEC+ decided to increase oil production for a second month in a row. The output will be increased by 411,000 barrels / day in June. ESPO Blend, a lighter Russian oil grade that is loaded from the port of Kozmino in the Pacific to Asian markets is favored by Chinese refineries. Two traders stated that the demand for June-loading ESPO blend was somewhat reserved. Cargoes were estimated to be plus $1.50-1.70 a barrel over ICE Brent. A trader pointed out that the regional Murban oil grades prices were also weakening amid increased OPEC+ production plans and expected increases in supplies. Third trader: plus $1.50 per barrel to ICE Brent at Chinese ports is a "reasonable price" for volumes of ESPO blend in June. ESPO Blend Oil is traded 1.5 months before loading. This means that June cargoes will soon be sold out. One of the traders stated that private Chinese refineries were the biggest buyers of Russian ESPO Blend loading from Kozmino at the moment, as state oil companies continued to show a cautious approach towards Russian oil purchases on the spot market. Another trader on the ESPO Market said that the reason for the lower than expected demand in June for ESPO blend oil loading was the high amount of oil purchased for storage during the spring months. He said that demand for ESPO blend could increase after the summer holidays start due to increased fuel consumption in Asia. (Reporting in MOSCOW by Siyi Liu, and additional reporting in SINGAPORE by Aizhu Chan; editing by Jan Harvey).
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Kazakhstan's oil production fell 3% but remained above OPEC+ quota
According to an industry source who is familiar with the calculations and statistics, Kazakhstan's oil output fell 3% in March, to 1,82 million barrels of oil per day (bpd) by April. However, it was still above the OPEC+ quota. Saudi Arabia, the group's leader, has demanded that all members adhere to their quotas. Kazakhstan, a country in the top 10 oil producers, had a quota of 1.473 millions bpd for OPEC+. The energy ministry of the country said in May that they were committed to OPEC+ but did not plan to reduce output as it "frequently informed" their OPEC+ partner. OPEC+ agreed to increase oil production for a second month in a row, increasing output by 411,000 barrels despite lower prices and expectations that demand would be weaker. The expansion of the Tengiz oilfield, Kazakhstan's largest, led by Chevron has resulted in an increase in oil production this year. In April, the field produced 885, 000 bpd. This is down from 950,000 in March. The Kazakhstani energy ministry didn't immediately respond to a comment request on Wednesday. Kazakhstan had previously pledged to compensate its overproduction by decreasing its cumulative production by 1.3 millions bpd before April 2026. Western oil majors such as Shell, ExxonMobil, TotalEnergies, Eni and Chevron are involved in Kazakhstan oil projects.
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Maguire: How to gauge China's potential power rebound after the trade truce
The recent agreement between the United States of America and China to pause hostilities in trade for 90 days is likely to spur new activity within China's massive manufacturing sector. This will have repercussions on the country's need for energy. The trade truce, on paper, is only temporary and could be rescinded by either party if they feel unfairly treated in negotiations. The sharp reduction in tariffs during the truce period marks a significant deescalation of trade tensions and should lead to a rebound in output and sentiment among Chinese manufacturers. Here are some key metrics you can use to track the impact of the trade tensions reduction on power generation, emissions and manufacturing output in China in the next few months. CLEAN START As factory production increases across China, the share of clean energy sources in China's overall mix of electricity generation will decline. Ember data shows that clean power sources made up a record 39% (950 TWh) of China's electric supply during the first quarter 2025. This was aided by a 18% increase in the production of clean electricity from the same period of 2024. Clean energy has increased its share in the mix of power generation partly due to Beijing’s efforts to reduce reliance on fossil fuels, which have resulted in a steady increase in clean power production capacity. The subdued tone in China's manufacturing sector between January and March also contributed to a higher share of clean power. Since the beginning of the year, scores of Chinese factories have reduced their output as Trump's tariffs threatened or came into effect. This has led to a reduction in the power consumption of these plants. In turn, this allowed utilities to reduce the use of fossil fuels in electricity generation. Ember data show that fossil fuel-fired power production was down by 4% compared to the previous year, at 1,494 TWh. The use of fossil fuels in China's energy mix will continue to increase, and any increase in industrial output and factory production is likely to give it a boost. SUMMER PEAK The impending factory production rebound is likely to occur during China's traditionally peak period of power consumption. This could lead to record electricity generation and usage over the summer, regardless of whether the trade truce lasts. China's electricity demand peaks in the summer, due to a greater use of air conditioners. The temperatures can reach over 85 degrees Fahrenheit (30 degrees Celsius) in Beijing on average. In order to meet the high demand, power companies tend to rely heavily on fossil fuels, particularly during evenings, when air conditioner usage increases and solar farm production falls. China's energy firms could be forced to reduce fossil fuel generation more than usual if China's massive manufacturing sector increases its collective output in the summer. The use of fossil fuels could reverse the gains that were made in China by using clean energy sources during the first quarter of this year. The increased use of fossil fuels could also cause a new rise in emissions from the power sector, which are already at their highest during summer. This could reach a record high in 2025, if fossil energy production also reaches new heights. OUTPUT MOTOR MONITORING The trade truce is likely to spark an increase in manufacturing, but some materials will see a greater rise in production. Assemblies will increase and stockpiles will be replenished, resulting in a significant increase in the production of resins, plastics, and copper wires. Tariffs reduced, exports of Chinese goods and products are expected to increase in the next few months. Solar cells, toys, and furniture are examples of products that cannot be manufactured in large quantities elsewhere. They can provide a good indication of the health of China's manufacturing industry. The traffic at key Chinese container port could also be a good indicator of the health of Chinese manufacturers. Shipments of semi-finished and finished products are expected to increase in the coming months. These are the opinions of the columnist, an author for.
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South Korea's MFG purchases about 64,000 T of feed wheat, traders claim
Major Feedmill Group of South Korea (MFG) bought about 64,000 metric tonnes of animal feed wheat from worldwide origins that were optional in a private transaction on Wednesday, without holding an international tender. A consignment of goods was purchased for an estimated cost and freight (c&f), plus $1.50 per ton, as a surcharge to cover additional port unloading. The trading house Cofco was thought to have sold it. If the shipment is from the Black Sea, as some traders anticipated, it will be between July 25 and august 25. Black Sea wheat shipped via Cape of Good Hope (often done to avoid attacks against shipping in the Red Sea) should be transported between July 5 and august 5. If you are sourcing from Australia, Canada or the United States, your shipment will be between August 15 and Sept. 15 Russia, Denmark India and China cannot be considered as origins. Ukrainian wheat cannot be loaded in Ukrainian ports. The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later. The MFG bought around 60,000 tons soymeal on a separate deal with traders, said traders. (Reporting and editing by Louise Heavens, Michael Hogan)
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South Korea's NOFI buys estimated 65,000 tons corn, traders say
European traders reported that the leading South Korean animal feed manufacturer Nonghyup Feed Inc., (NOFI), bought approximately 65,000 metric tonnes of animal feed corn on Wednesday in an international bid seeking up to 138,000 metric tons. The corn was bought in one shipment for arrival in South Korea on or around 10 September. It was expected that the corn would only be from South America and South Africa. The estimated price was $234.46 per ton, cost and freight plus $1.50 for port unloading. It was thought that the seller would be Mitsui, a trading house. A second consignment up to 69,000 tonnes, also requested in the tender, was not purchased. The reports reflect the assessments of traders, and future estimates on prices and volume are possible. The tender requested shipment from South America from July 14 to August 2, or from South Africa from July 24 to August 12. The seller has the right to choose the origin of the corn they supply. However, traders were expecting South American origin. If South African corn was sourced, then only 55,000 tonnes would be required. Chicago corn futures dropped to Five-month lows Technical selling and ideal planting conditions in the U.S. Corn Belt pushed prices on Tuesday. NOFI also purchased about 60,000 tonnes of soymeal on Wednesday in a separate bid. (Reporting and editing by Vijay Kishore, with Michael Hogan)
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Alstom confirms that talks are ongoing about the Channel Tunnel trains but says there has been no agreement yet
Alstom, a French train manufacturer, said that it is in discussions about providing high-speed, double-decker trains to be used through the Channel Tunnel. However, no contract has yet been signed, according to the company. A spokesperson for the company confirmed that there were talks, but refused to name the operators, citing their confidential nature. The spokesperson also said the company would not reveal the size of any potential contract until it was signed. Financial Times reported the first reports of the talks. The Financial Times said that the second largest train manufacturer in the world was looking to supply trains between London and Europe's continental cities, including Paris, Brussels, and Amsterdam. Alstom CEO Henri Poupart Lafarge told analysts in a call after earnings that deregulation of the high-speed rail industry in Europe was creating new opportunities for both traditional and new operators to expand their fleets. Poupart-Lafarge stated that "Even the traditional operators now want to acquire more rolling stock in order to meet this growing demand." "We have made significant progress in certifying and homologating our trains for use in tunnels." Alstom’s Avelia Horizon is the only double-decked high-speed train on the market that offers low costs per seat with high capacity. The spokesperson stated that the model meets all technical requirements for operation in France, Britain, and the tunnel between the two. Avelia Horizon has so far confirmed orders for 115 trains with France's SNCF and 12 with Proxima - the first independent company in France to enter the high speed market - as well as 18 with Morocco's ONCF. Alstom is positioning this model as an important product for Europe's expanding cross-border rail industry, which has seen a surge in passenger demand amid the push to find more sustainable travel options. (Reporting from Anna Peverieri, Gdansk; editing by Milla Nissi-Prussak).
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South Korea's NOFI purchases about 60,000 T of soymeal from traders
European traders reported that leading South Korean animal feed manufacturer Nonghyup Feed Inc. purchased about 60,000 tons of soymeal in a Wednesday international tender. The soymeal could have been sourced from the United States or South America, but also China. The estimated price was $348.69 per ton, c&f. This included a surcharge of an additional port unloading. Trading house Olam was suspected to be the seller. The tender was for soymeal to arrive in South Korea by September 20. The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later. The tender stated that shipments were to be made between July 24 and august 12 from South America or between September 1 and 20, from China. Or between August 18 and september 6, if coming from the U.S. Pacific Northwest Coast. NOFI also released a separate bid to purchase up to 138,000 tonnes of animal feed corn, which also closes on Wednesday. (Reporting and Editing by Louise Heavens, Michael Hogan)
RPT-Deadly United States airline company crashes given that 2001
An American Airlines local guest jet was associated with a midair collision on Wednesday night with a U.S. Army Black Hawk helicopter near Reagan Washington National Airport, authorities stated.
Senator Ted Cruz of Texas said on social media that we know there are deaths, though he did not say the number of.
These are the last 10 deadly airline crashes to take place in the U.S., according to information from the U.S. National Transportation Board and the Flight Safety Structure's Air travel Security Network:
2009
A Colgan Air turboprop crashed on approach to landing in Buffalo, New York, killing all 49 individuals on board and a single person on the ground.
2006
A Comair regional jet overran the runway when removing from Lexington, Kentucky, and crashed, killing 49 of the 50 people on board.
2005
A Chalk's Ocean Airways turboprop crashed after launch from Miami, Florida, eliminating all 20 individuals on board.
2004
A Corporate Airlines turboprop crashed on technique to landing in Kirksville, Missouri, killing 13 of the 15 people on board.
2003
A United States Airways Express turboprop crashed after departure from Charlotte, North Carolina, killing all 21 people on board.
NOVEMBER 2001
In November, an American Airlines jet crashed after leaving from John F. Kennedy International Airport in New York, eliminating all 260 individuals on board and five people on the ground.
SEPT. 11, 2001
A hijacked American Airlines jet left from Boston and crashed into the World Trade Center structure in New York, killing all 92 individuals on board. Around 1,600 individuals likewise died on the ground.
A pirated United Airlines jet that left from Boston likewise crashed into the World Trade Center, eliminating all 65 individuals on board. About 900 individuals were killed on the ground.
A hijacked American Airlines jet that departed from Washington-Dulles International Airport crashed into the Pentagon, killing all 64 individuals on board. Around 125 people died on the ground.
A hijacked United Airlines jet that departed from Newark, New Jersey, crashed into a field in Pennsylvania, eliminating all 44 people on board.
(source: Reuters)