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Logistics & Trade

Ports, shipping, aviation cargo, warehousing and trade

Industry News
Source: The Business Times

Middle East Oil Shipments Avert Severe Price Spikes, Says Vitol CEO

Around 14 million barrels per day of crude and refined products have recently departed the Middle East, according to Vitol CEO Russell Hardy. Speaking in London, Hardy noted that these continuous flows help balance energy markets and prevent prices from escalating to $200 per barrel. He also highlighted surging shipping costs and pointed to China's domestic oil reserves as an essential market buffer earlier in the year.

China–UAE News
Source: PortNews IAA

DP World and MOL Sign Term Sheet for Dubai Vehicle Logistics Hub

DP World and Japan's Mitsui O.S.K. Lines have signed a term sheet to develop an automotive logistics and processing facility at Jebel Ali Port in Dubai. The planned hub aims to combine vehicle storage, pre-delivery inspections, and value-added services to support trade flows between Asia, the Middle East, and Africa. China ranks as the leading source of vehicle imports handled at Jebel Ali Port.

Industry News
Source: The National

India Condemns Projectile Strike on Dubai-Owned Oil Tanker in Strait of Hormuz

The Indian government has condemned a projectile strike on the Panama-flagged oil tanker MT On Peace, owned by Dubai-based company Onex, in the Strait of Hormuz. Twelve crew members were injured, including 11 Indian nationals, and were evacuated to Oman for treatment. India's Ministry of External Affairs called for an immediate cessation of attacks on commercial shipping in the region.

Industry News
Source: Crude Oil Prices Today | OilPrice.com

Gold Producers Shift to Domestic Refining and Bullion Reserves Amid Dollar Concerns

Emerging gold-producing countries across Asia are increasingly retaining domestic gold production through local refining, export duties, and central bank purchases rather than exporting raw ore to Western financial hubs. The trend is driven by efforts to protect sovereign reserves against foreign asset freezes and to reduce reliance on the US dollar. Analysts note that major central banks, including China's, have significantly expanded their bullion holdings while trimming US Treasury holdings.

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