Thailand

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

Sugarcane yields in India are decreasing due to in 2015's dry spell and this year's extreme rains, which could decrease the country's sugar production below usage levels for the first time in eight years, farmers and market officials said on Monday. Lower-than-expected output by the world's second-largest sugar producer might eliminate the possibility of India permitting exports in the existing season ending in September 2025, supporting worldwide sugar prices. Maharashtra, Karnataka, and Uttar Pradesh account for more than 80% of the nation's total sugar production, with lower walking cane yields in these states prompting trade homes to decrease their output
Thailand

Thai ceremony for the dead brings good karma and psychological closure
United States sets tariffs for photovoltaic panels from Southeast Asian countries

U.S. trade officials on Friday announced a brand-new round of tariffs on solar panel imports from 4 Southeast Asian nations after American manufacturers grumbled that business there are flooding the marketplace with unjustly low-cost products. It is the second of 2 initial decisions that President Joe Biden's Commerce Department is making this year in a trade case brought by Korea's Hanwha Qcells, Arizonabased First Solar Inc and several smaller producers seeking to protect billions of dollars in financial investments in U.S. solar manufacturing. This is the latest chapter in a more than decadelong trade war with Chinese companies over their
Environment

US to select another round of photovoltaic panel tariffs
New green steel firms could enjoy benefits as EU carbon tariffs loom

On Thailand's eastern coast, strategies are underway to develop an electric arc heater that will provide green steel to Europe and benefit from controversial brand-new guidelines that will require buyers to pay tariffs on highcarbon imports. Federal governments and market associations in Asia have lobbied ferociously against Europe's Carbon Border Change Mechanism ( CBAM) and it could cast a shadow over COP29 environment talks in Baku, Azerbaijan, next week, with China and others calling for an end to green trade barriers. CBAM was created to stop European companies averting carbon compliance expenses by sourcing commodities from regions with laxer ecological
Mineral Resources

Thai SCG halts operations at $5.4 bln Vietnam petrochemical complex

Siam Cement Group (SCG). , Thailand's largest industrial conglomerate, said on. Monday it has actually suspended business operation at its $5.4 billion. Long Son Petrochemicals complex in Vietnam after just one month. due to the chemicals' low margin. The chemicals industry has been grappling with high. inventory and destocking for the previous couple of quarters, putting. pressure on numerous firms. The resumption will depend upon worldwide vibrant demand, SCG. said in a statement to Reuters. SCG did not provide a clear timeframe for the suspension but. expected the chemicals industry would remained tough well. into the 2025. LSP, which began
Thailand yet to finalise regards to multilateral tidy power handle Singapore

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

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...

Renewable Energy Equipment

Deals of the day-Mergers and acquisitions

The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Monday: ** Waste Management stated it will take Stericycle personal in a deal valued at $7.2 billion, as it looks to take advantage of the growing health care waste disposal market in the United States. ** Edwards Lifesciences stated it has actually consented to sell its important care items unit to Becton Dickinson in an all-cash offer valued at $4.2 billion to sharpen focus on its heart gadgets organization. ** Billionaire Bill Ackman's Pershing Square Capital Management has actually raised $1.05 billion by offering 10% stake in...

Environment

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

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

Thai ceremony for the dead brings good karma and psychological closure

United States sets tariffs for photovoltaic panels from Southeast Asian countries

US to select another round of photovoltaic panel tariffs

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

Thai SCG halts operations at $5.4 bln Vietnam petrochemical complex

Thailand yet to finalise regards to multilateral tidy power handle Singapore

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

All assumed dead on Thai charter airplane that crashed with five Chinese aboard

UN agency seeks urgent response to 'worrying' spread in Asia-Pacific bird flu

All presumed dead on Thai charter plane that crashed with 5 Chinese aboard

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

Myanmar's embattled junta chief takes on function of nominal president

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

MORNING BID ASIA-Resilience vs quarter-end caution

Offers of the day-Mergers and acquisitions

Deals of the day-Mergers and acquisitions

Environment

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