Thailand

Thai EV production set to increase, sparking price wars in a battered market

Thai EV sales may jump by 40% in 2025 President of the association: Production and subsidy conditions are driving EV sales Analysts say that new supply and limited demand may intensify the price war. By Chayut Setboonsarng BANGKOK - Thailand's auto industry is already suffering from a slump in sales and experts say that a price war on EVs could be extended due to a rise in production by Chinese car manufacturers. Suroj Sangsnit is the president of Electric Vehicle Association of Thailand. He said that electric vehicle sales are expected to increase by 40% in Thailand this year. This
Pollution

Southeast Asian cities among world's most polluted, ranking programs
Thai cabinet approves collection of carbon tax

Thailand's cabinet on Tuesday accepted impose a carbon tax of 200 baht ($ 5.88) per heap of carbon emissions, a deputy finance minister said, as part of the country's efforts to minimize greenhouse gas emissions. The tax, nevertheless, will be included in the existing oil tax and will not affect the market price of oil and oil items, Paopoom Rojanasakul said in a statement. The procedure is a change in the internal structure of the excise tax that determines the carbon rate embedded in the oil tax, he said. The carbon price setting will not affect the cost of the
Electric Utilities

Thai telcos Advanced Info, Thaicom desire financiers to turn down deals to get them
PTTGC begins very first sustainable jet fuel production in Thailand

Thailand's PTT Global Chemical said on Wednesday it has actually begun producing sustainable air travel fuel (SAF) in the country for the very first time and prepares six million litres (37,738 barrels) in annual output for the very first stage. The company is utilizing utilized cooking oil as the primary raw product, and plans to broaden production to 24 million litres annually in the future, the business said in a statement. Today's official industrial production of SAF is prepared to assistance rapidly broadening demand for renewable energy in the Thai business air travel market, PTTGC's President Toasaporn Boonyapipat said in
Energy Markets

India's palm oil imports drop 41% m/m to 9-month low

India's palm oil imports in December plunged 41% from a month previously to a ninemonth low, as a rally in prices to a 21/2year high triggered refiners to increase purchases of rival soyoil readily available at a discount, a leading trade body stated. Lower palm oil imports by India, the world's greatest buyer of veggie oils, might weigh on benchmark Malaysian palm oil rates, but support U.S. soyoil futures. Palm oil imports in December was up to 500,175 metric lots, the lowest because March 2024, the Solvent Extractors' Association of India (SEA) stated in a declaration on Tuesday. Imports of
Weather concerns to crush India's sugar production, export hopes

Crude Oil

Saudi Arabia signs up with BIS- and China-led central bank digital currency job

Saudi Arabia has signed up with a. Chinadominated central bank digital currency crossborder. trial, in what could be another action towards less of the world's. oil trade being carried out in U.S. dollars. The move, revealed by the Bank for International. Settlements on Wednesday, will see Saudi's central bank ended up being a. full participant of Task mBridge, a partnership released. in 2021 between the central banks of China, Hong Kong, Thailand. and the United Arab Emirates. The BIS, a global central bank umbrella organisation which. manages the project, also announced that mBridge had actually reached. minimum feasible item phase,...

Energy Markets

Saudi Arabia joins BIS-led reserve bank digital currency trial

Saudi Arabia has actually joined a. major BISled reserve bank digital currency crossborder trial,. in what might be another action towards less of the world's oil. trade being performed in U.S. dollars. The relocation, announced by the Bank for International. Settlements on Wednesday, will see Saudi's central bank become a. full participant of Job mBridge, a collaboration launched. in 2021 between the central banks of China, Hong Kong, Thailand. and the United Arab Emirates. The BIS, an international reserve bank umbrella organisation which. supervises the project, likewise announced that mBridge had actually reached. minimum practical product phase, indicating it will...

Energy Markets

VEGOILS-Palm oil extends gains on demand hopes, weak Malaysian ringgit

Malaysian palm oil futures extended gains on Friday due to the weakness of the Malaysian ringgit and expectations of enhanced demand after the costs of rival soft oils rallied more than palm oil today. The benchmark palm oil agreement for August delivery on the Bursa Malaysia Derivatives Exchange was up 21 ringgit, or 0.54%, at 3,915 ringgit ($ 829.98) a metric lot by mid-day break. Till a few weeks earlier, palm oil was losing market share due to its premium over soyoil and sunflower oil, said a New Delhi-based trader. It has begun regaining market share now that it is...

Energy Markets

VEGOILS-Palm increases on weaker Malaysian ringgit, need hopes

Malaysian palm oil futures rose on Thursday due to weakness in the Malaysian ringgit and expectations of enhanced demand as the tropical oil began trading at a discount to rival soft oils. The benchmark palm oil contract for August shipment on the Bursa Malaysia Derivatives Exchange was up 26 ringgit, or 0.67%, at 3,894 ringgit ($ 826.75) a metric load by midday break. The sharp drop in the Malaysian ringgit is supplying support to palm oil and balancing out the effect of weak point in U.S. soyoil futures, said a Mumbai-based trader. The Malaysian ringgit, palm's currency of trade, weakened...

Energy Markets

Evacuation bought after blaze at Thai chemical tank facility

An evacuation was bought for communities near a fire at a chemical tank terminal that killed a single person in Thailand's eastern Rayong province, as the blaze was most likely to spread out, the industry ministry said on Thursday. Someone was verified dead and 3 hospitalised according to a declaration from Siam Cement Group, whose subsidiary owns the center. It said all activities had actually been suspended and the firm had right away controlled the situation. The storage terminal is located in the vast Map Ta Phut industrial zone on Thailand's eastern coast. The blaze started late morning, volunteer firefighters...

Energy Markets

Dreyfus projects little global sugar supply, sees Brazil crop unsure

The global sugar market will have a little surplus in 2024/25 at 800,000 metric loads versus a. surplus of 2.5 million loads in 2023/24, commodities trader Louis. Dreyfus stated on Tuesday, adding the outlook for Brazil was still. unpredictable. Greater production in Thailand and Europe due to increased. planting of walking stick and beet will be partly balanced out in 2024/25. ( October-September) by falling output in India if the Indian. government keeps its ethanol program as planned, stated Dreyfus'. head of sugar Enrico Biancheri in a presentation throughout New York. Sugar Week. Dreyfus approximates Thailand will produce 1.6 million...

Energy Markets

Thailand to select previous energy executive Pichai financing minister, sources state

Thailand will name former corporate energy executive and central bank board member Pichai Chunhavajira as its new financing minister, taking control of the function from Prime Minister Srettha Thavisin, 2 government sources told on Thursday Pichai, 75, who has actually been Srettha's consultant, on Thursday. resigned as both chair of the board of Bangchak Corporation a post he held given that 2012, and the board of the Stock Exchange of Thailand. The government sources decreased to be determined because they were not authorised to speak with media on the issue. A federal government representative declined to comment and contacts us...

Energy Markets

Thailand to select previous energy executive Pichai financing minister, sources state

Chevron hands Myanmar gas field stake to junta, Thailand's PTTEP

U.S. energy company Chevron has actually stopped the Yadana natural gas field in Myanmar, a representative stated on Monday, more than 2 years after it condemned violence and human rights abuses there and announced it would leave. Rather than being sold, Chevron's 41.1% stake in the gas field was rearranged to the staying shareholders, Thailand's PTT Expedition and Production and state-owned Myanma Oil and Gas Business (MOGE). PTTEP, operator of the gas field, said on Friday its stake in Yadana had increased to 62.96%. The withdrawal offers effect to our objective to exit Myanmar in a controlled and orderly way,...

REFILE-Thai PM says central bank ought to cut rates to assist financial revival

Thai Prime Minister Srettha Thavisin stated the reserve bank ought to cut its key rate of interest by a minimum of a quarter point today to support federal government efforts to revive Southeast Asia's secondlargest economy. Offered the inflation numbers, which are still unfavorable, my expectation is possibly not even 0.25 (point cut), possibly 0.5, because it's long overdue. It must have been cut because late in 2015, Srettha, 62, informed in an exclusive interview. The Bank of Thailand has actually up until now resisted government pressure to reduce policy, holding it benchmark rates of interest at 2.50% in February,...

Thai PM: reserve bank should cut rates by at least 25 bps

Thai Prime Minister Srettha Thavisin told the reserve bank must cut its key rates of interest by at least a quarter point this week as the federal government advances with a flagship handout plan worth 500 billion baht ($ 13.6 billion) to restore Southeast Asia's. secondlargest economy, which lags the area. The digital wallet program will be rolled out in the. final quarter of the year however will not be funded by a loan. expense, Srettha said on Sunday, adding that the funding sources. will be settled at a conference on Wednesday, the same day as the. reserve bank's financial...

Asia area LNG maintains six-week high amid emerging need

Asian area liquefied gas (LNG) costs were little moved this week, hanging on to a sixweek high amid emerging area need in both southeast Asia and Europe. The average LNG rate for May delivery into northeast Asia << LNG-AS > rose 1.1%, or $0.10, from the previous week to $9.50. per million British thermal systems (mmBtu), a level not seen. because Feb. 9, market sources estimated. The rate has hovered between $9 and $10/mmBtu today,. preventing some Asian purchasers from purchasing spot volumes as. rates went back closer to $10/mmBtu, said Masanori Odaka,. senior expert at Oslo-based consultancy Rystad Energy....

Chandra Asri purchase of Shell Singapore refinery brings scale, threat

While Chandra Asra's offer to purchase Shell's Singapore refinery will see it join the ranks of Southeast Asia's biggest petrochemicals players, it is taking on the danger of running an aging facility in an extremely competitive sector. In taking control of Shell's Bukom facility, which dates to 1961, Indonesia's Chandra Asri Pacific will obtain a possession that is less efficient than more modern plants but which gives it a second naphtha cracker, broadens its item portfolio, and renders unnecessary plans to develop a greenfield complex in its home country, analysts and market experts said. Owning a refinery for the very...

Oil & Gas

Extreme Asian heat spurs LNG demand ahead of summer months

Severe temperature levels throughout Asia are driving up melted gas (LNG) demand in the region as importers look for freights ahead of summertime, with imports in South Asia hitting records. This could tighten readily available supply and additional lift Asian spot prices that have currently gotten a third considering that April, with heatwaves across South and Southeast Asia boosting air-conditioner use and other cooling demand. Costs are now at a near six-month peak above $12 per million British thermal systems (mmBtu) and are anticipated to stay raised. Spot prices are now driven by Asian demand. Temperature levels in South Asia...

Fossil Fuels

Thailand to expand state equity fund to purchase regional stocks

Thailand's cabinet on Tuesday consented to increase the size of a current federal government equity mutual fund to invest in Thai stocks, a deputy financing minister stated, as the government looks for to support Asia's worst carrying out bourse this year. The fund will be positive for the capital market and offer a choice for savings, Paopoom Rojanasakul told reporters, without divulging the increased fund quantity. Finance Minister Pichai Chunhavajira has previously stated the size of the Vayupak Mutual Fund would be raised by 100 billion baht ($ 2.84 billion) to 150 billion baht. Pichai and other officials will hold...

Fossil Fuels

MORNING BID ASIA-Resilience vs quarter-end caution

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...

Renewable Energy Equipment

Offers of the day-Mergers and acquisitions

The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday: ** Skydance Media was awaiting a response to its enhanced quote for home entertainment conglomerate Paramount Global, in which it provided to buy nearly half of the nonvoting Paramount shares at $15 each, according to a source acquainted with the matter. ** German state lender KfW will offer 110 million shares in Deutsche Telekom for 2.5 billion euros ($ 2.7. billion), the bank said, as part of government strategies to sell its. holdings in companies to invest in the country's rail network. ** Waste Management stated...

Environment

United States solar panel makers look for import tariffs to protect brand-new domestic factories

Some of the world's biggest solar equipment makers on Wednesday asked President Joe Biden's. administration to impose tariffs on panels and cells from four. Asian countries to secure billions of dollars in financial investments in. U.S. manufacturing. 7 companies - Korea's Hanwha Qcells,. Switzerland's Meyer Burger, Norway's REC Silicon. and U.S. companies First Solar Inc, Convalt. Energy, Objective Solar and Swift Solar - are behind the petitions. filed with the U.S. Department of Commerce and the International. Trade Commission, they stated in a declaration. The American Alliance for Solar Manufacturing Trade. Committee is implicating Chinese companies with factories in. Malaysia,...

Thai scuba divers look for to take on 'ghost equipment' threatening marine life

Underneath the surface of the blue-green waters off a beach on Thailand's. holiday island of Phuket, divers laboriously gather abandoned. fishing gear, much of it made from plastic, that is tangled on. coral and trapping sea life. This discarded or lost fishing equipment is known in your area as. ghost gear and is a growing issue in waters off Thailand and. beyond, capturing marine life and contributing to microplastics. pollution as webs and ropes break down gradually. According to Thailand's Department of Marine and Coastal. Resources, estimates of the portion of threatened marine life. impacted by plastic contamination in the...

Thai scientists reproduce coral in laboratories to restore abject reefs

On a stellar night, 4 Thai marine biologists scuba dived through shallow waters off an island in the country's south as billions of pink specks floated up from the ocean floor in a. spectacle that occurs just when a year. The pink specks were sperm and eggs released by coral. The. scientists collected as many samples as possible for breeding,. as they battle to save Thailand's extensive reefs from. degradation driven by warming oceans and human activity like. tourism. Their research study is painstaking because the coral only generate. once a year, and it can take up to 5 years...

Brazil mills enhance sugar capacity, 'leave' ethanol to corn processors

Brazil walking cane mills will improve their sugar production capability as much as 10% in the brand-new season from April to make the most of reasonably high sugar costs and as increasing supplies of corn make the grain a cheap feedstock for ethanol output. Brazil is the world's biggest sugar producer. It accounted for almost 50% of global sugar trade last year as undesirable weather due to the El Nino environment pattern decreased output and exports from rivals India and Thailand. Sugar rates have actually dipped from a 12-year peak hit in November, however are still traditionally high. Brazilian mills...

Thailand asks Australia to decrease application of car emissions requirements

Thailand has actually called on Australia to decrease a plan to introduce emissions standards that would penalise imports of emissions extensive cars over worries it might harm the southeast Asian country's automotive export market. Thai Prime Minister Srettha Thavisin made the request throughout a conference with Australian counterpart Anthony Albanese at an ASEAN top on Tuesday, according to a meeting readout released by the Thai government. Australia is presently the only country in the OECD group of countries bar Russia without such standards. Thailand exports over 200,000 vehicles annually to Australia, predominantly the emissions-heavy pick-up trucks at risk under brand-new...

Tumbling US gas rates show unstoppable, hurting manufacturers

For almost a. year, U.S. natural gas producers have actually slammed the brakes on. production as rates fall. However relentless output gains including. from oil companies that pump gas as an oil by-product have. released record supplies. In the oil versus gas contest, gas manufacturers are losing. Some are shutting in wells, canceling projects or selling. themselves to rivals to avoid losses. Natural gas costs this. month was up to an inflation-adjusted 30-year low of $1.59 per. thousand cubic feet, benefiting customers of the fuel like. utilities, but hurting manufacturers who are costing nominal. rates as low as they were...

Renewable Energy

Thailand exploring small modular nuclear reactor technology, states PM

Thailand is checking out small modular nuclear reactor technology as Southeast Asia's. secondlargest economy seeks to diversify its energy mix amid. diminishing reserves of gas that produces much of its. power, Prime Minister Srettha Thavisin said. Our green shift objective is one of the most ambitious in. Southeast Asia, and we have a detailed roadmap in place to. have 50% of energy production be eco-friendly by 2040, Srettha. stated in a speech on Friday at an American Chamber of Commerce. event in Bangkok. Together with green hydrogen and battery storage services, the. nation is looking at small modular reactor (SMR)...

Renewable Energy

White House moves to secure US solar producers from Chinese competition

The White Home on Thursday stated it would secure domestic solar factories from Chinese competitors by scrapping a tariff exemption for imported doublesided panels and making it much easier for jobs to declare a subsidy for utilizing Americanmade products. The relocations come as President Joe Biden touts his economic policies ahead of a November election versus his predecessor, former President Donald Trump. As part of the battle against environment change, Biden has actually looked for to broaden financial investment in the production of clean energy products, intending to lower the country's reliance on Chinese-made goods. The White House stated it...

Renewable Energy

China's EV strategy of going little and inexpensive to pay big dividends in Asia: Russell

China's. dominance of international electric lorry production and sales is an. established reality, however a brand-new International Energy Agency (IEA). report points to the nation extending its influence in vehicles. throughout the fastgrowing economies of Asia. The IEA's Global Electric Lorry (EV) Outlook 2024 report,. released on Tuesday, shows that China represented 60% of all. EV sales in 2023, and its fast uptake will continue, with one. in three vehicles on China's roadways in 2030 expected to be electric. Maybe more considerably the IEA sees China's influence. and lead in EVs spreading out throughout Asia as it leverages its. vast...

Thailand

Thai EV production set to increase, sparking price wars in a battered market

Southeast Asian cities among world's most polluted, ranking programs

Thai cabinet approves collection of carbon tax

Thai telcos Advanced Info, Thaicom desire financiers to turn down deals to get them

PTTGC begins very first sustainable jet fuel production in Thailand

India's palm oil imports drop 41% m/m to 9-month low

Weather concerns to crush India's sugar production, export hopes

Saudi Arabia signs up with BIS- and China-led central bank digital currency job

Saudi Arabia joins BIS-led reserve bank digital currency trial

VEGOILS-Palm oil extends gains on demand hopes, weak Malaysian ringgit

VEGOILS-Palm increases on weaker Malaysian ringgit, need hopes

Evacuation bought after blaze at Thai chemical tank facility

Dreyfus projects little global sugar supply, sees Brazil crop unsure

Thailand to select previous energy executive Pichai financing minister, sources state

Adverse weather condition curbs Thai, Chinese rubber output, raising costs to 13-year high

United States sets tariffs for photovoltaic panels from Southeast Asian countries

Thailand yet to finalise regards to multilateral tidy power handle Singapore

A minimum of two dead, hundreds stranded in Thailand as floods hit north

At least two dead, hundreds stranded in Thailand as floods struck north

Thai ceremony for the dead brings good karma and psychological closure

New green steel firms could enjoy benefits as EU carbon tariffs loom

Energy Markets

Thailand to select previous energy executive Pichai financing minister, sources state

Chevron hands Myanmar gas field stake to junta, Thailand's PTTEP

REFILE-Thai PM says central bank ought to cut rates to assist financial revival

Thai PM: reserve bank should cut rates by at least 25 bps

Asia area LNG maintains six-week high amid emerging need

Chandra Asri purchase of Shell Singapore refinery brings scale, threat

Oil & Gas

Extreme Asian heat spurs LNG demand ahead of summer months

Fossil Fuels

Thailand to expand state equity fund to purchase regional stocks

MORNING BID ASIA-Resilience vs quarter-end caution

Offers of the day-Mergers and acquisitions

Environment

United States solar panel makers look for import tariffs to protect brand-new domestic factories

Thai scuba divers look for to take on 'ghost equipment' threatening marine life

Thai scientists reproduce coral in laboratories to restore abject reefs

Brazil mills enhance sugar capacity, 'leave' ethanol to corn processors

Thailand asks Australia to decrease application of car emissions requirements

Tumbling US gas rates show unstoppable, hurting manufacturers

Renewable Energy

Thailand exploring small modular nuclear reactor technology, states PM

White House moves to secure US solar producers from Chinese competition

China's EV strategy of going little and inexpensive to pay big dividends in Asia: Russell