There are early signs that some Asian countries are stepping up their imports of U.S. liquefied natural gas (LNG) as part of trade deals with President Donald Trump.Asia's imports of the super-chilled fuel are on track to hit an eight-month high of 2.01 million metric tons in August, according to data compiled by commodity analysts Kpler.
China's trade in major commodities in May underscored that price moves are the primary driver of changes in flows in the world's biggest buyer of natural resources.The headline-grabbing number from customs data was the collapse in crude oil imports to an eight-year low of just 7.79 million barrels per day (bpd). The fallout from the war in Iran was blamed for the 29% slump in crude imports.
The Iran war is starting to shape China's imports of major commodities, with April data showing a sharp decline in crude oil but rising trade in metals.The headline-grabbing number from the figures released last week by customs was the slide in arrivals of crude oil, with the world's biggest importer taking in 9.37 million barrels per day (bpd), the lowest in almost four years.
The U.S. and Israeli war against Iran has changed the global market for liquefied natural gas (LNG), providing a boost to producers outside the Middle East that will likely last long after the current conflict ends.One of the major beneficiaries is Australia, which last year slipped to the third-largest exporter of the super-chilled fuel behind the United States and Qatar.
The surge in the spot price of liquefied natural gas (LNG) has dragged seaborne thermal coal prices higher, but only for the higher quality grades that can substitute for natural gas in power generation.The spot price of LNG in Asia more than doubled last week as the market digested the loss of nearly 20% of the global supply of the super-chilled fuel after the U.S.
China is the world's largest energy importer and would therefore appear vulnerable to the surge in crude oil and natural gas prices from the conflict between Israel and the United States against Iran.But the opposite is most likely the case, with China's vast stockpile of crude a cushion against price spikes, meaning that any energy-led inflation in the rest of the world will not hit China.
The premium currently built into the crude oil price over tensions between the United States and Iran fluctuates according to the daily headlines, but there is an underlying assumption that everything will turn out fine.Global benchmark Brent futures LCOc1 jumped 4.4% on Wednesday to close at $70.35 a barrel, the highest finish since January 30.
Clarus Networks has been awarded a 12-month contract to provide satellite connectivity, technical support, and centralized fleet network management for CalMac Ferries, the UK’s largest ferry operator.The contract, awarded via Public Contracts Scotland, will see Clarus deliver a pooled Starlink data service across CalMac’s operational fleet, offering high-speed
ABB has secured a contract to supply power distribution and propulsion systems for seven all-electric double-ended ferries being built by Remontowa Shipbuilding in Poland for Caledonian Maritime Assets (CMAL).The 50-meter vessels, part of CMAL’s Small Vessel Replacement Program, are scheduled for delivery between late 2027 and early 2029.
Lloyd's Register (LR) has announced a milestone in its naval assurance services, having secured a 12-month in-service submarine support contract from the UK Ministry of Defence (MOD) through the Aurora Framework.Under the new contract, LR will provide experienced surveyors to His Majesty’s Naval Base Clyde, providing expert support to the Royal Navy’s submarines.
Iron ore prices have been a model of stability in recent months despite the increasing clouds over the outlook for the key steel raw material.The benchmark Singapore Exchange contract ended at $95.25 a metric ton on Monday, down from $95.89 at the previous close but up from the recent nine-month low of $93.35 on July 1.
The UK Marine Accident Investigation Branch (MAIB) has released its investigation report into the collision between the crude oil tanker Apache and the stern trawler Serinah (GH 116) in the Firth of Clyde, Scotland on 25 April 2024.At about 1503 on 25 April 2024, the crude oil tanker Apache and the stern trawler Serinah collided in the Firth of Clyde resulting in Serinah sinking rapidly.