Singapore

Products trading business Trafigura has extended the notice period for traders leaving the company to a minimum of 6 months or approximately one year, three sources with knowledge of the matter said, after current worker departures. It is not known precisely when changes were made to extend the notice period, but the sources said they use to new and existing workers and depend on seniority levels. A longer notice duration might dissuade traders from using to operate at Trafigura, among the sources said. Trafigura declined to comment. Energy traders consisting of Mercuria, Gunvor and Vitol are going back to trading...

Rhone Energies, a consortium of commodity trader Trafigura and Entara LLC, has concurred with ExxonMobil's ESSO SAF to buy the FossurMer refinery and Toulouse and VillettedeVienne terminals in France. Discussions with the pertinent authorities are continuous and the needed authorisations are expected by the end of October, Trafigura stated in a news release on Thursday. The parties signed the sale agreement having actually completed an info and assessment treatment with staff member agents, Trafigura stated. Trafigura said it would have a minimum 10-year special petroleum supply and item offtake contract for the 140,000 barrel daily (bpd) capability Fos-sur-Mer refinery when...

Spanish energy Iberdrola faces claims worth approximately $535 million in an arbitration procedure introduced by Singaporean melted gas (LNG). business Structure Energy over a supply contract, according to. Iberdrola's earnings report. The conflict is connected to a 2019 agreement, under which. Structure materials gas to Iberdrola. Structure is looking for between $233.4 million and $534.9. million, plus interest, in compensation from Iberdrola in an. quantity equivalent to the projected loss due to what it called. exceptional scenarios that had actually emerged given that the contract. was signed, according to the document. Iberdrola said, however, that the agreement does not include....

A look at the day ahead in Asian markets. The very first meaning that appears in an online search for the meaning of durability is the capacity to withstand or to recover rapidly from troubles; durability. In worldwide markets today, one word probably is adequate: Nasdaq or Nvidia. Shares in the world's AI and chip beloved roared back 6.8%. on Tuesday for their best day in a month, enough to recover the. previous day's downturn, narrow the current correction, and set the. tone for a tech-led increase in U.S. and international equities. There was no fresh news or motivation behind...

Singapore is using refiners and petrochemical companies refunds of approximately 76% for its organized carbon tax for 2024 and 2025 to assist them alleviate expense stress and remain competitive versus rivals somewhere else, four sources knowledgeable about the matter stated. The tax concessions will provide a significant buffer for refiners' profit margins amidst growing competition with newer plants in China and the Middle East. Carbon tax costs are estimated at between 80 cents and $1. per barrel of unrefined input basis for refineries based upon the S$ 25. ($ 18.48) per ton of emission rate, according to speaking with companies....

The pitches used in the T20 World Cup matches played in New york city have actually not been up to requirement and ground staff are dealing with treating them for the rest of the tournament, the International Cricket Council (ICC) stated on Thursday. The short-term Nassau County International Cricket Arena has actually hosted 2 games up until now, both of which were low-scoring encounters due to the nature of the drop-in pitch which has actually made batting incredibly tough due to the movement and bounce. Fans expecting a run-fest were left dissatisfied when Sri Lanka were bowled out for 77--...

Commodity trader Trafigura has settled a suit filed by a company owned by home and metals magnates the Reuben bros, Trafigura stated on Wednesday, in a case linked to a continuous supposed nickel scams case. The case was an off-shoot of a larger legal action in which Geneva-based Trafigura submitted a claim in 2015 against entrepreneur Prateek Gupta, declaring methodical scams involving what were supposed to be nickel cargoes. Hyphen Trading Ltd required $8.4 million in damages last year from Trafigura, stating it had paid Trafigura for 404 metric tonnes of nickel, but never ever received it. The Hyphen lawsuit...

Bangladesh's Top LNG stated its floating storage and regasification system (FSRU) was ready to discharge the liquefied gas (LNG) it had onboard before continuing to Singapore or the Middle East for necessary repair work. It hopes the FSRU, which acts as a drifting LNG import terminal, can go back to the nation within three weeks after repair work, it stated in a declaration on Wednesday. A damaged roaming steel structure weighing numerous heaps had struck the FSRU when Cyclone Remal lashed Bangladesh in May, it added, triggering considerable damage. The effect sheared the vessel's outer hull, roughly one metre below...

Australian Treasurer Jim Chalmers has purchased numerous Chinalinked investors to dispose of shares in rare earths miner Northern Minerals on nationwide interest grounds, a spokesperson stated on Monday. Northern Minerals is developing the Browns Variety heavy unusual earths task in Western Australia, at a time when the sector has become increasingly strategic for its uses in green energy and defence. A disposal order released by Chalmers on Sunday stated Yuxiao Fund had 60 days to get rid of 80 million shares it bought in September. Yuxiao Fund is the Singapore-registered private financial investment automobile of Chinese nationwide Wu Yuxiao, has...

The following quotes, mergers, acquisitions and disposals were reported by 1330 GMT on Friday: ** Hess shareholders cast 157.6 million 'yes' votes in favor of its sale to Chevron, a Securities and Exchange Commission filing showed, 3 million more than needed to pass. ** Soho Home Co said that its board has dissolved an unique committee that had actually been established to assess certain tactical offers, including the possibility of going personal. ** UBS completed the merger of the main parent companies of the Swiss bank and Credit Suisse, which it got last year after its longtime competitor collapsed, putting...

The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Wednesday: ** Anglo American rejected BHP Group's. last-ditch request for more time to go over a $49 billion. takeover deal, dismissing it as extremely complex and ending a. five-week pursuit by the bigger rival. ** A consortium of U.S. financial investment firm KKR and. Singapore Telecommunications (SingTel) has become. the frontrunner to purchase a minority stake worth $1 billion in one. of Asia's biggest information centre companies, two sources stated. ** The owner of Britain's Royal Mail has accepted a 3.57. billion pound ($ 4.55 billion) takeover...

The following bids, mergers, acquisitions and disposals were reported by 1930 GMT on Wednesday: ** A consortium consisting of CVC Advisers and the Abu Dhabi Investment Authority stated it was considering a possible modified deal for Hargreaves Lansdown after the British financial investment platform's board turned down a buyout proposal it had made in April. ** French media and business conglomerate Lagardere said it is moving closer to a sale of its Paris Match magazine to luxury products huge LVMH, on an enterprise worth cost of 120 million euros ($ 130 million). ** Cross-border mergers between European banks are structurally...

Climate change will be high on the agenda as Pope Francis embarks on his longest ever foreign journey on Monday, visiting Indonesia, Papua New Guinea, East Timor and Singapore over 12 days. Following are some of the environment difficulties dealing with the nations on his travel plan. INCREASING WATER LEVEL Pope Francis has cautioned rising sea levels will indicate lots of populations will probably need to move their homes in a few years. This is currently occurring in Indonesia, with its largely populated and low-lying seaside regions at danger from subsidence and flooding. It is currently relocating its nationwide capital...

Pope Francis leaves on Monday for a visit to 4 island countries across southeast Asia, an ambitious trip to urge worldwide action on climate change that might test the strength of the 87yearold head of the global Catholic Church. Over 12 days from Sept. 213, Francis will take a trip almost 33,000 km (20,500 miles) to check out Indonesia, Papua New Guinea, East Timor and Singapore. It is the longest journey yet by the pontiff, who now routinely utilizes a wheelchair due to knee and neck and back pain. Francis pushed hard for the 2015 Paris climate contract and aides...

Here are some stats about Pope Francis, who sets off next week, at the age of 87, on a. 33,000 km (20,500 mile) tour of 4 Southeast Asian countries. ELECTION The previous Cardinal Jorge Mario Bergoglio of Argentina was. chosen pope on March 13, 2013. He is the 266th pontiff and the. first from Latin America, in addition to the very first to take the name. Francis. DURATION. At more than 11 years, Francis' reign already far goes beyond the. 7-1/2 year average. He is likewise the earliest sitting pope since Leo. XIII, who was 93 when he passed away...

Singapore is providing refiners and petrochemical companies refunds of approximately 76% for its scheduled carbon tax for 2024 and 2025 to assist them relieve expense tension and stay competitive versus competitors elsewhere, 4 sources acquainted with the matter stated. The tax concessions will offer a substantial buffer for refiners' earnings margins in the middle of growing competition with more recent plants in China and the Middle East. Carbon tax costs are estimated at in between 80 cents and $1. per barrel of unrefined input basis for refineries based upon the S$ 25. ($ 18.48) per lots of emission rate, according...

The world's small island states plan to join forces to push for debt relief and more climate financial investment ahead of this year's COP29 climate summit, part of a 10year strategy to help save a few of them from extinction, a draft file seen revealed. The Small Island Establishing States (SIDS), a grouping of 39 states and 18 associate members, are recognised by the United Nations as particularly vulnerable to increasing water levels and more extreme weather as the world warms up, yet numerous bring a. heavy debt problem that hinders their ability to respond. Now, after years of tension...

The world's little island states plan to join forces to promote financial obligation relief and more climate financial investment ahead of this year's COP29 environment summit, part of a 10year strategy to help save some of them from extinction, a draft document seen revealed. The Small Island Developing States (SIDS), a grouping of 39 states and 18 associate members, are acknowledged by the United Nations as particularly vulnerable to increasing water levels and more extreme weather as the world heats up, yet many bring a. heavy financial obligation problem that obstructs their ability to respond. Now, after years of stress...

Global facilities financier I Squared Capital is seeking to invest $5 billion in the Asia Pacific from 2025 to 2027 as it seeks to take advantage of fastgrowing sectors, consisting of renewable energy, in the region, its senior partner said. I Squared, which manages over $38 billion of possessions globally, will release the cash from its $15 billon worldwide flagship fund and $2 billion development markets fund raised in 2022, its senior partner Harsh Agrawal told . The firm's growth in Asia Pacific underscores growing investor interest in facilities properties across the region as it quickly urbanises, its energy need...

Singapore's government offered a S$ 2.5. billion ($ 1.9 billion) 30year green bond on Tuesday after. pricing at a yield of 3.30%, according to an announcement on the. central bank's website and a term sheet seen . The long-dated bond has an initial price assistance of about. 3.46%, an earlier term sheet on Tuesday showed. Discount coupon rate. stood at 3.25%, the site and term sheet showed. The Monetary Authority of Singapore, the country's central. bank, is releasing the bond of behalf of Singapore's federal government. Money raised from the 30-year bond will be utilized on tasks. covered under the...

Need for melted gas (LNG) to power ships will rise this year on appealing rates, while more dualfuel vessels join the international fleet, market executives said. Prices of LNG delivered as marine fuel at the world's. biggest bunker hub Singapore are at high discounts of nearly. $ 100 per metric load compared to traditional 0.5% very low. sulphur fuel oil (VLSFO), industry sources said. That is a far cry from record premiums of more than $1,000 a. ton seen in September 2023, based on data from S&P Global Platts. published on market union SEA-LNG's site, after Russia. triggered a worldwide...

India is checking centers of spice makers MDH and Everest for compliance with quality requirements after Hong Kong halted sales of a few of their items for supposedly consisting of high levels of a. cancercausing pesticide. Hong Kong this month suspended sales of 3 MDH spice. blends and an Everest spice mix for fish curries. Singapore. bought a recall of the Everest spice mix, saying it includes. high levels of ethylene oxide, which is unfit for human. usage and a cancer risk with long exposure. MDH and Everest spices are among the most popular in. India and are sold in...

Need for liquefied gas (LNG) to power ships will increase this year on appealing costs, while more dualfuel vessels join the worldwide fleet, market executives said. Costs of LNG delivered as marine fuel at the world's. biggest bunker center Singapore are at steep discounts of almost. $ 100 per metric lot compared with conventional 0.5% really low. sulphur fuel oil (VLSFO), market sources said. That is a far cry from record premiums of more than $1,000 a. ton seen in September 2023, based on information from S&P Global Platts. published on industry union SEA-LNG's site, after Russia. stimulated an international...

Singaporebased container shipper XPress Feeders signed a memorandum of understanding with 6 European ports to refuel its ships with green methanol, the business stated on Friday. The ports include Belgium's Antwerp Bruges, Estonia's. Tallinn, Finland's Helsinki and HaminaKotka, Latvia's Freeport. of Riga and Lithuania's Klaipeda, X-Press Feeders said in a. declaration. Under the contract, the ports and the business will. team up to develop infrastructure for the supply and. bunkering of alternative fuels consisting of green methanol to cut. emissions. 2 shipping routes will be established to and from. Rotterdam port, including a Baltic path and a Finland route. The...