Shell-Led LNG Canada Ships First Cargo to Meet Asian Demand
(Bloomberg) — Shell Plc has started exports from Canada's first liquefied natural gas project, helping to meet rising Asian demand and extending its position in the global LNG market.
The first cargo from the plant in British Columbia was loaded on the vessel Gaslog Glasgow. Operator LNG Canada Development Inc. said on Monday that the ship is destined for 'global markets.' Shell owns 40% of the project.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Winnipeg Free Press
4 hours ago
- Winnipeg Free Press
Asian shares are mixed as Trump's tariffs deadline looms
MANILA, Philippines (AP) — Asian shares were trading mixed on Wednesday as the July 9 deadline for the U.S. to strike deals with trading partners or impose higher tariffs looms. U.S. futures edged higher and oil prices were little changed. Shares fell in Japan, hit by jitters over a lack of progress in trade talks with the U.S., but they recovered much of their lost ground, trading 0.5% lower at 39,790.85. Stephen Innes, managing partner at SPI Asset Management, pointed to President Donald Trump's declaration that there will be no extension of his tariff pause, which is just a week away from ending. 'The message was blunt: if Tokyo won't yield, it will pay. Tariffs of 30%, 35% or 'whatever number we determine' are now openly back on the table,' he said. 'The negotiating table just became a pressure cooker.' Hong Kong's Hang Seng advanced 0.8% to 24,271.15 and the Shanghai Composite index edged 0.1% lower to 3,453.89. South Korea's KOSPI fell 0.6% to 3,072.63 after the government reported that inflation rose in June. Australia's S&P ASX 200 climbed 0.8% to 8,605.40. Taiwan's Taiex edged up 0.1% while the Sensex in India lost 0.2%. On Tuesday, the S&P 500 dipped 0.1% to 6,198.01 for its first loss in four days. The Dow Jones Industrial Average rose 0.9% to 44,494.94, and the Nasdaq composite fell 0.8% to 20,202.89. Tesla tugged on the market as the relationship between its CEO, Elon Musk, and President Donald Trump soured even further. Once allies, the two have clashed recently, and Trump suggested there's potentially 'BIG MONEY TO BE SAVED' by scrutinizing subsidies, contracts or other government spending going to Musk's companies. Tesla fell 5.3%. It has lost just over a quarter of its value so far this year, 25.5%, in large part because of Musk's and Trump's feud. Drops for several darlings of the artificial-intelligence frenzy also weighed on the market. Nvidia's decline of 3% was the heaviest weight on the S&P 500. But more stocks within the index rose than fell, led by several casino companies. They rallied following a report showing better-than-expected growth in overall gaming revenue in Macao, China's casino hub. Las Vegas Sands gained 8.9%, Wynn Resorts climbed 8.8% and MGM Resorts International rose 7.3%. Automakers outside of Tesla were also strong, with General Motors up 5.7% and Ford Motor up 4.6%. Monday Mornings The latest local business news and a lookahead to the coming week. The U.S. stock market has made a stunning recovery from its springtime sell-off of roughly 20%. But challenges still lie ahead for Wall Street, with one of the largest being the continued threat of Trump's tariffs. Many of Trump's stiff proposed taxes on imports are currently on pause, and they're scheduled to kick into effect in about a week. Depending on how big they are, they could hurt the economy and worsen inflation. Washington is also making progress on proposed cuts to tax rates and other measures that could send the U.S. government's debt spiraling higher, which could raise inflation. That in turn could mean higher interest rates, which would hurt prices for bonds, stocks and other investments. Despite such challenges, strategists at Barclays say they see signals of euphoria among some investors. The strategists say a measure that tries to show how much 'excess optimism' is in the market is not far from the peaks seen during the 'meme stock' craze that sent GameStop to market-bending heights or to the dot-com bubble at the turn of the millennium. In other dealings early Wednesday, benchmark U.S. crude lost 8 cents to $65.37 per barrel. Brent crude, the international standard, lost 3 cents to $67.08 per barrel. The U.S. dollar rose to 143.70 Japanese yen from 143.41 yen. The euro slid to $1.1787 from $1.1808.
Cision Canada
5 hours ago
- Cision Canada
PR Newswire Expands Reach in Singapore via SPH Media Partnership
This strategic partnership offers clients an exceptional opportunity to deepen geographic penetration and boost engagement with industry professionals and consumers throughout Singapore. The Straits Times is the English flagship daily of SPH Media, one of the leading media companies in Asia. The Straits Times is Singapore's most widely read newspaper, providing comprehensive national and international news coverage. MONEY FM 89.3 is Singapore's first and only business and personal finance radio station and reaches listeners 24/7 with its English-language business and personal finance programming. The press release distribution partnership furthers the collaboration between SPH Media and PR Newswire's parent company, Cision Ltd., that began in May 2024, when the two organizations signed a content licensing agreement enabling Cision's clients to monitor online content from all SPH Media outlets through its CisionOne platform. "This partnership with SPH Media is the latest example of PR Newswire's ongoing investment to further broaden our industry-leading global network and ensure that our customers reach the most extensive, highest quality audience in the world," said Matt Brown, President, PR Newswire. "By distributing press release content to The Straits Times and MONEY FM 89.3, we're providing our clients with unparalleled access to a highly engaged and influential Singaporean audience." Key features of this partnership include: Expanded Reach: Leveraging The Straits Times' significant multi-platform presence, encompassing its digital sites—which attract 62.2 million monthly page views and 8.5 million monthly users —PR Newswire has bolstered the visibility and discoverability of client content with this offering. Targeted Audience: PR Newswire's clients gain exclusive access to a premium audience of Singaporean professionals across various sectors actively following news and financial trends. "This press release distribution partnership between Cision and SPH Media is a powerful synergy, combining Cision's global reach and technology with SPH Media's deep understanding of the Asian markets and their influential media landscape," stated Lynn Liu, Vice President of Audience Development and Distribution Services, PR Newswire APAC. "We believe this collaboration will unlock significant value for our clients, enabling them to connect with key audiences in a more impactful and data-driven way." To learn more, visit: PR Newswire is the industry's leading press release distribution partner with an unparalleled global reach of more than 440,000 newsrooms, websites, direct feeds, journalists and influencers and is available in more than 170 countries and 40 languages. From our award-winning Content Services offerings, integrated media newsroom and microsite products, Investor Relations suite of services, paid placement and social sharing tools, PR Newswire has a comprehensive catalog of solutions to solve the modern-day challenges PR and communications teams face. For 70 years, PR Newswire has been the preferred destination for brands to share their most important news stories across the world.
Canada Standard
9 hours ago
- Canada Standard
China boosting purchases of Russian metals Bloomberg
Aluminum, copper and nickel shipments have surged this year, according to trade data Beijing has increased purchases of Russian metals as Moscow pivots toward Asia amid Western sanctions, Bloomberg has reported, citing customs data. The US and its allies have been targeting Russian base metals in an effort to cut the country's revenues amid the Ukraine conflict. China has become a key buyer of Russian commodities, with overalltradebetween the two countries hitting historic highs last year, exceeding $240 billion. Imports of Russian aluminum jumped nearly 56% year-on-year to almost one million tons between January and May, while copper purchases surged 66% and nickel imports more than doubled, according to Trade Data Monitor, cited by the outlet on Monday. The report noted that while Russian producers Rusal and Norilsk Nickel are not under Western sanctions, their access to global trading platforms has been restricted. In April 2024, the US and UK barred the London Metal Exchange (LME) and Chicago Mercantile Exchange (CME) from accepting new Russian-origin aluminum, copper, and nickel and barred imports of the metals. Washington had earlier imposed 200% duties on Russian-made aluminum products, while Canada enacted a full ban on imports of Russian aluminum and steel. Earlier this year, the EU introduced a phased ban on Russian aluminum, setting a 275,000-ton quota that runs through February 2026. The Kremlin has condemned the sanctions as "illegal," warning they will backfire on those imposing them. The measures triggered spikes in global metal prices, with aluminum seeing its biggest surge on the LME in decades. Moscow has redirected exports to Asia and the Middle East amid the shift away from Western markets. People familiar with the matter told Bloomberg that Norilsk Nickel began boosting sales to China in the second half of 2024. The company is also reportedly working with a unit of Chinese gold giant Shandong Gold to expand copper cathode shipments to the country. Sanctioned producers such as Russian Copper and UMCC may also be shipping metal to China, the sources said. Norilsk Nickel's chief executive, Vladimir Potanin, has said the company plans to relocate some copper smelting operations to China to safeguard exports from sanctions pressure on financial transactions. (
