Latest news with #shippingroutes
South China Morning Post
14 hours ago
- Business
- South China Morning Post
As war threatens China's Iran investments, Middle East still beckons
Watching as missile bombardments threaten key shipping routes and blow up some of their trade deals in the Middle East, with Iran at the centre of the firestorm, Chinese exporters are feeling the heat. After finalising a deal with an Iranian buyer she met at China's Canton Fair in April, Miya Yu, a trader of light industrial goods – valves, toys, aluminium containers, etc – collected the necessary materials to begin production and fill the order. Production never began. The contracted client vanished without a word as his country engaged in battle with the United States and Israel, putting Yu's business plans at risk of becoming an economic casualty of the latest violent crisis in a region that is among the world's most volatile. 'We simply can't tell whether delivery will still be possible,' she said on Monday. Meanwhile, Cai Zhan, a foreign trade entrepreneur from Wenzhou and a social media influencer with more than 1.2 million followers on Douyin – China's version of TikTok – said in a recent video that she had cancelled August plans to attend an auto-parts expo in Iran, after clients warned her not to come, citing the 'serious' security situation. 'The ongoing conflict has severely disrupted business,' she said. And with clients cutting orders, shipping costs rising, and the outlook shrouded in uncertainty, she said many exporters in her network are tightening their belts. In terms of tremors of instability in the pulse of global shifts, few are more attuned than Chinese exporters navigating its shock waves in real time.
South China Morning Post
16 hours ago
- Business
- South China Morning Post
Boom goes the deal? As war threatens China's Iran investments, Middle East still beckons
Watching as missile bombardments threaten key shipping routes and blow up some of their trade deals in the Middle East, with Iran at the centre of the firestorm, Chinese exporters are feeling the heat. After finalising a deal with an Iranian buyer she met at China's Canton Fair in April, Miya Yu, a trader of light industrial goods – valves, toys, aluminium containers, etc – collected the necessary materials to begin production and fill the order. Production never began. The contracted client vanished without a word as his country engaged in battle with the United States and Israel, putting Yu's business plans at risk of becoming an economic casualty of the latest violent crisis in a region that is among the world's most volatile. 'We simply can't tell whether delivery will still be possible,' she said on Monday. Meanwhile, Cai Zhan, a foreign trade entrepreneur from Wenzhou and a social media influencer with more than 1.2 million followers on Douyin – China's version of TikTok – said in a recent video that she had cancelled August plans to attend an auto-parts expo in Iran, after clients warned her not to come, citing the 'serious' security situation. 'The ongoing conflict has severely disrupted business,' she said. And with clients cutting orders, shipping costs rising, and the outlook shrouded in uncertainty, she said many exporters in her network are tightening their belts. In terms of tremors of instability in the pulse of global shifts, few are more attuned than Chinese exporters navigating its shock waves in real time.
Malay Mail
5 days ago
- Business
- Malay Mail
Indonesia's Pertamina to reroute oil shipments via Oman, India if Hormuz closes amid Iran-US tensions
JAKARTA, June 23 — Indonesia's state-owned oil and gas firm PT Pertamina will change its oil transportation routes to safer shipping lanes, such as via Oman or India, if the Strait of Hormuz is shut down, a spokesperson said on Monday. Fadjar Djoko Santoso, vice president of corporate communications at PT Pertamina, said the firm's vessels would use alternative shipping routes that ensure the safety of both ships and crew, reported Xinhua. Santoso made the statement following the approval by Iran's parliament of a possible closure of the Strait of Hormuz to shipping activities, in response to US strikes on Iran's nuclear facilities. 'Pertamina has anticipated this by securing our ships and diverting routes to safe passages via Oman and India,' he told reporters. The spokesperson added that the domestic crude oil supply for production remains sufficient and secure. 'In general, our crude supply is still under control,' he said. — Bernama-Xinhua
The National
17-06-2025
- General
- The National
UAE Coast Guard rescues 24 crew members after oil tanker collision in Sea of Oman
The UAE Coast Guard evacuated 24 crew members from an oil tanker on Tuesday after a collision in the Sea of Oman. The oil tanker Adalynn collided with another vessel 24 nautical miles off the coast near Khor Fakkan. 'A crew of 24 members were evacuated from the incident site, located 24 nautical miles from Khor Fakkan Port. Search and rescue boats were deployed to evacuate the crew from the site,' the UAE's National Guard posted on X. The cause of the collision is not believed to be security-related. The incident comes as Israel and Iran continue to exchange attacks for a fifth consecutive day. The conflict has heightened concerns over the security of vital shipping routes in the region. The Strait of Hormuz is one of the world's most critical oil transit chokepoints. According to energy analytics firm Vortexa, between January 2022 and May 2025, an estimated 17.8 to 20.8 million barrels of crude oil, condensate and refined fuels passed through the strait each day, accounting for around 20 per cent of global oil consumption.
