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China’s Ministry of Finance said in a statement on Tuesday that the US government announced on February 1 the imposition of a 10 percent tariff on all Chinese goods exported to the US, citing fentanyl shipments and other issues.

“The unilateral imposition of tariffs by the US is a serious violation of the rules of the World Trade Organization, which is not only unhelpful in solving its own problems, but also damaging to the normal economic and trade cooperation between China and the United States,” the statement said.

Starting from February 10, 2025, tariffs will be added to some imported goods originating in the United States, the statement said.

This includes tariffs of 15 percent on imports of coal and LNG as well as 10 percent tariffs on crude oil, the ministry said.

President Donald Trump is reportedly expected to speak with Chinese President Xi Jinping as soon as this week.

The US is the world’s largest LNG exporter of LNG.

In July last year, China was the top destination for US liquefied natural gas cargoes, according to the Department of Energy.

China increased its LNG imports by 7.7 percent in 2024, remaining the world’s largest LNG importer.

Data from China’s General Administration of Customs shows that the country received 76.65 million tonnes in 2024.

This compares to 71.32 million tonnes in 2023, which marked a rise of 12.6 percent year-on-year.

LNG imports in 2024 were lower than 78.93 million tonnes in 2021, which marked a new record high due to rising demand from the power generation and industrial sectors.

Source: Lngprime.com

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South Africa’s minister of mineral and petroleum resources, Gwede Mantashe, has called on African countries to withhold mineral exports to the US. The comments come after US President Donald Trump announced plans to cut aid to South Africa over its land expropriation policies.

Speaking on Monday at the Investing in African Mining Indaba conference in Cape Town, Mantashe stated that African nations should not be afraid of US threats.

“Let us withhold minerals to the US,” the minister said. “If they don’t give us money, let’s not give them minerals… we are not just beggars, let us use that endowment for our benefit… If as a continent we are [paralysed] with fear, we are going to collapse, but with minerals at our doorstep.”

The call follows Trump’s announcement that the US would halt all future assistance to South Africa, citing concerns over land expropriation without compensation. On Sunday, the US president called the alleged mistreatment of “certain classes of people” in South Africa a “bad situation that the radical left media doesn’t want to so much as mention.”

In response, South African President Cyril Ramaphosa defended the country’s land reform policy, stating it is a “constitutionally mandated legal process” and that the government “has not confiscated any land.”

Last month, Ramaphosa enacted an expropriation bill into law, permitting the government to seize land without compensation when it deems such action “just and equitable and in the public interest.” The new law aims to address racial disparities in land ownership, a long-standing issue in Africa’s most advanced economy since Apartheid ended in 1994.

Mantashe stated that Africa is the richest mining region globally, holding at least 90% of the world’s chromium and platinum, 40% of its gold, and the largest reserves of cobalt, vanadium, manganese, and uranium.

According to US government statistics, Washington set aside nearly $440 million in assistance to South Africa in 2023.

Source: Rt.com

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Iranian scientists are working on a faster method to develop nuclear weapons, the New York Times reported on Monday, citing US intelligence sources. According to the report, a covert team of Tehran-based scientists has been tasked with finding a new way to produce an atomic bomb to deter potential US or Israeli military action.

The sources did not provide details of the new method, but described it as “a faster, if cruder, approach” involving enriched nuclear fuel. They claimed that Iranian scientists have been exploring shortcuts that would allow them to turn nuclear material into a functional weapon within months. The report added that Iran has enough nuclear fuel to build at least four bombs.

US officials told the NYT that while Iran remains below the nuclear weapon threshold, recent regional developments – including the fall of former Syrian President Bashar Assad and the weakening of Hezbollah amid Israeli military operations – have prompted Tehran to accelerate its nuclear activities.

The intelligence was reportedly gathered during the final months of former US President Joe Biden’s administration and has since been shared with the national security team of President Donald Trump.

The report indicates that the new intelligence will be among the topics discussed during Israeli Prime Minister Benjamin Netanyahu’s state visit to the US this week. Netanyahu has reportedly considered ordering strikes on Iran’s nuclear facilities several times but was dissuaded by advisers and Washington.

Last month, Axios reported that Biden had also contemplated military action against Iranian nuclear sites before leaving office, but ultimately refrained from authorizing strikes.

Since taking office, Trump has signaled reluctance to escalate tensions with Iran. Asked whether he would support an Israeli strike on Iranian nuclear infrastructure last month, Trump said he hoped the issue could be resolved diplomatically.

“Hopefully this can be worked out without having to go that further step,” he told reporters, adding that he hopes “Iran will make a deal” regarding its nuclear program.

Iran’s uranium enrichment activities have long been seen by the West as a secret attempt to develop nuclear weapons. Tehran has denied these allegations, insisting its nuclear activities are for peaceful purposes only.

In 2015, Iran signed the Joint Comprehensive Plan of Action (JCPOA) with world powers, agreeing to limit its nuclear program in exchange for sanctions relief. However, Trump withdrew the US from the agreement in 2018 during his first term, resulting in Iran ramping up its uranium enrichment activities. Efforts to revive the JCPOA have stalled, though Iranian Foreign Minister Abbas Araghchi said last month that Tehran remains open to negotiations if the West agrees to a “mutually beneficial” deal based on respect.

Source: Rt.com

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Shipping companies from Western countries sold off discarded oil tankers that became part of Russia’s shadow fleet, according to a joint report by investigative news media from several European countries.

According to the cross-country investigation “Shadow Fleet Secrets” published by news outlets from Germany, Belgium, Norway, Denmark and the United Kingdom on Tuesday, about 230 ships originating from Europe and the US are now part of the fleet operated by Russian owners.

The majority of them are reported to be of old age and in poor condition, making them potential environmental hazards in international waters.

Since the EU imposed sanctions on Russian oil after the Kremlin’s full-scale invasion of Ukraine in 2022, oil tankers operated by companies that can be indirectly traced back to Russia have continuing to generate revenue for the Kremlin.

These vessels have also been implicated in the sabotage of cables in the Baltic Sea.

Between 2022 and 2024, German shipping companies Schulte, Chemikalien Seetransporte and Salamon AG were responsible for selling eleven oil tankers to Chinese and Turkish companies – generating a revenue of 200 million euros. These eleven tankers later ended up in the shadow fleet, German newspaper Süddeutsche Zeitung and public broadcaster NDR, who were part of the investigative team report.

Crude oil tankers ‘Angelica Schulte’ and ‘Cup’, sailing under the flags of Antigua and Barbuda and Liberia, respectively, have since been put on a US sanctions list, suspected to of being part of the shadow fleet.

While direct sales of vessels to Russian buyers are prohibited under EU sanctions, sales to third countries are not – though sales from 2023 onwards have to be registered with EU authorities.

[DC/OM]

Source: Euractiv.com

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Offshore drilling giant Noble Corporation has revealed plans to divest two cold-stacked drillships to eliminate costs related to these units. Noble said it would divest the 2014-built Pacific Meltem and 2011-built Pacific Scirocco rigs and prioritise resources on the existing marketed fleet. According to the rig owner, it will divest these units by retiring them …

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Shipping markets have profited from turbulence in this decade, but far bigger changes are coming in the years ahead, argues Tim Smith, a director at Maritime Strategies International. As we approach the mid-point of this decade, from a shipping market fundamentals perspective the most important factor of the 2020s so far has been disruption. The …

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Japanese liner Ocean Network Express (ONE) has teamed with Korean logistics outfit LX Pantos to create Boxlinks, a joint venture providing end-to-end domestic intermodal transportation services in the US. Boxlinks will provide customised service to customers in the US, leveraging access to an expanded equipment pool. Customers can utilise containers through Boxlinks for their inland-to-coastal …

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Mediterranean Shipping Company (MSC), the world’s largest liner, has just launched iReefer, a container monitoring system for reefer cargo. This solution allows customers to track and monitor their temperature-controlled shipments in real time, from anywhere in the world. MSC offers three iReefer packages. The basic package, iReefer Essential, is free of charge and available today. …

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Hanwha Ocean, one of South Korea’s largest shipyards, has partnered with America’s Baker Hughes to develop what it describes as a carbon-free ship propulsion system. The joint development aims to create an ammonia gas turbine capable of 100% ammonia combustion, with the flexibility to mix ammonia with natural gas as needed with the first ships …

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Changes are afoot at top management at Kawasaki Kisen Kaisha (K Line), one of the largest shipping lines in the world. The Tokyo-headquartered company revealed today that, pursuant to a shareholder vote in March, Takenori Igarashi will become president and CEO replacing Yukikazu Myochin who will become chairman. Myochin has been in charge of K …

The post K Line announces CEO succession plan appeared first on Energy News Beat.

China to impose tariff on US LNG

South African minister calls for halt to mineral exports to US

Iran working on faster way to create nuclear bomb – NYT

European shipowners helped build Russia’s shadow fleet, investigation says

Noble to shed cold-stacked drillship pair

Choose your risk: short term disruption or long-term transition

ONE debuts Boxlinks in the US

MSC launches iReefer

Hanwha Ocean teams up with Baker Hughes to develop ammonia turbine

K Line announces CEO succession plan

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