Hong Kong can become a regional trading hub for green marine fuel and help augment China’s influence on supply and pricing, according to an industry player. “Hong Kong’s advantages lie in its roles as an international free port, shipping and financial hub, and the government’s willingness to support energy transition and green finance,” said Leo…
Oil prices hit a five-month high over the weekend after the United States struck Iran’s nuclear facilities. Tehran retaliated with an attack on the US Al Udeid Air Base in Qatar, keeping global energy markets on edge. But oil prices dropped sharply on Tuesday after it appeared that Iran was holding off further attacks for…
Global shipping companies and businesses are closely monitoring developments around the Strait of Hormuz, after Iranian threats to disrupt shipping following the U.S. strikes on its nuclear sites in its “Operation Midnight Hammer“ The U.S. warned Iran that any move to shut the Strait would be “economic suicide” and trigger a severe response. Why It…
What’s next China’s market regulator has not revealed the details of its antitrust probe such as whether it has started investigations and the scope of its assessment. Lawyers have said the regulator may implement anti-monopoly measures, such as prohibiting or conditionally approving the transaction. According to the deal between CK Hutchison and BlackRock, both parties…
Hong Kong shippers and trading groups have urged exporters not to dump shipments mid-voyage to avoid crushing tariffs by the White House, saying the “irrational” move would incur huge costs while tarnishing the reputation of the company involved and the country. They made the calls on Thursday as the Post reported a case of a…
The headquarters of the World Trade Organization in Geneva on Feb. 5, 2024. Fabrice Coffrini | Afp | Getty Images Hong Kong will file a complaint on recent U.S. tariffs imposed on the city to the World Trade Organization, claiming the U.S. has completely ignored the city’s status as a separate customs territory, chief secretary Eric Chan said on Tuesday. “This is absolutely inconsistent with…
Aframax oil tankers that serviced crude oil exports from Russia’s western ports are now being redirected to the Russian Far East-China route to service the exports of Russia’s ESPO crude, a favorite with Chinese refiners, Bloomberg reports, citing shipbroker and ship-tracking data. The Biden Administration’s final sanctions on Russian oil trade were the most aggressive…
Sweden’s foreign minister says China denied request for prosecutors to probe Chinese ship linked to two severed Baltic Sea cables. China says it had provided information and documents for an open investigation into the severing of two Baltic Sea undersea cables, though Sweden alleges Beijing has not been adequately transparent in the case. Chinese Ministry…
Hong Kong’s standing as an aviation and maritime hub was dealt a severe blow by the Covid-19 pandemic, China’s economic downturn and intensifying competition. Now, it faces another challenge: green fuel. The city trails regional rival Singapore on policies and supply chain development for sustainable aviation fuel (SAF), the most feasible decarbonisation solution for the…
Hong Kong’s standing as an aviation and maritime hub was dealt a severe blow by the Covid-19 pandemic, China’s economic downturn and intensifying competition. Now, it faces another challenge: green fuel. The city trails regional rival Singapore on policies and supply chain development for sustainable aviation fuel (SAF), the most feasible decarbonisation solution for the…