India looks to tap Canada to meet growing appetite for crude, LPG, LNG

India’s growing appetite for crude oil, LPG and LNG offers opportunities to expand energy purchases from Canada, while Indian refiners will explore the potential to ship more petroleum products to the North American country, the two countries said in a joint statement Jan 27.

The statement was issued on the sidelines of India Energy Week in the western city of Goa and after Canada’s Minister of Energy and Natural Resources Timothy Hodgson’s meeting with Petroleum Minister Hardeep Singh Puri. It pledged to jointly explore investment partnerships in each other’s energy sector.8

“India, as a major consumer, and Canada as a safe, secure and reliable supplier, can act in partnership to deepen trade and ensure stable and secure energy supplies,” the joint statement said.

Canada is increasing production and exports of crude oil to markets in Asia via the Trans Mountain Expansion Pipeline, advancing liquefied petroleum gas exports to Asia via the west coast of Canada, as well as has new LNG projects coming up, the statement said.

At the same time, India, as a leading consumer of crude oil and LPG and a leading importer of LNG, is projected to remain at the center of the global energy landscape, accounting for over one-third of the growth in global energy demand over the next two decades, the largest contribution by any country, the statement added.

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Suez Canal Bank joins Partnership for Carbon Accounting Financials

Suez Canal Bank has officially joined the Partnership for Carbon Accounting Financials (PCAF), a global initiative comprising more than 700 financial institutions across six continents, aimed at standardising the measurement and disclosure of financed emissions arising from lending and investment activities.

The move reflects the bank’s ongoing efforts to integrate climate considerations across its operations and underscores its commitment to environmental sustainability, in line with the direction of the Egyptian government and the Central Bank of Egypt towards a greener, low-carbon economy.

By adopting PCAF methodologies, Suez Canal Bank will be able to identify carbon-intensive sectors within its financing portfolio, enhance credit and portfolio risk assessments, and strengthen its capacity to design green and transition finance solutions tailored to clients’ needs.

The membership marks a significant milestone in the bank’s efforts to align with international best practice in environmental, social and governance (ESG) disclosure, comply with evolving regulatory requirements, and unlock new opportunities to attract climate-aligned investment.

Commenting on the development, Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, said the bank has already taken proactive steps to measure emissions associated with its financing activities. He added that joining PCAF represents a key step in embedding sustainability within the bank’s business model and reinforces its commitment to adopting unified international methodologies that enhance transparency and support the expansion of green finance, in line with Egypt’s National Climate Change Strategy and Egypt Vision 2030.

For her part, Angélica Afanador, Executive Director of the PCAF Secretariat, welcomed Suez Canal Bank’s accession to the partnership, describing it as an important step towards advancing sustainable finance in Egypt. She noted that by committing to measuring and reporting emissions linked to financial activities, the bank is enhancing transparency in the region and taking concrete steps towards effective emissions management.

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SM Group’s Korea Line Equips Entire Fleet with Starlink

Korea Line Corp., the shipping arm of SM Group, announced on Jan. 16 that it has successfully completed the installation and activation of SpaceX’s Starlink satellite internet service across its entire fleet of 38 vessels, including bulk carriers and liquefied natural gas (LNG) tankers, becoming the first company in South Korea’s shipping industry to do so.

The company signed a service agreement in April last year with KT SAT, one of SpaceX’s official business-to-business resellers. Korea Line said the move will enable qualitative improvements in smart-vessel operations by leveraging a high-performance, ultra-fast satellite communications network.

Starlink’s low-Earth-orbit satellite service operates more than 8,000 satellites deployed at an altitude of roughly 550 kilometers. Because the satellites are relatively closer to Earth than traditional geostationary satellites, the system offers much faster communication speeds.

Korea Line expects the service to allow faster collection and transmission of vessel-operation data and smoother real-time communication between ships at sea and onshore offices, improving both efficiency and execution of onboard operations. The company also said it plans to strengthen its environmental, social and governance (ESG) management by improving fuel efficiency, reducing carbon emissions and enhancing navigational safety.

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Singapore Opens Applications for Additional LNG Bunkering Licences

 

The Maritime and Port Authority of Singapore (MPA) has opened applications for additional licences to supply liquefied natural gas (LNG) as a marine fuel in the Port of Singapore.

2The licence application is open to both existing LNG licensees and new entrants. This call follows the recent updates to the Singapore LNG bunkering licensing framework and standards, which now include the provision of sea-based LNG reloading and the supply of liquefied bio-methane and e-methane in the Port of Singapore.

Key Licensing Requirements

Licensees are required to implement end-to-end LNG bunkering supply arrangements, which include securing LNG supply, demand planning, cargo transfers operations, storage and safe handling of LNG, as well as the sale, supply and delivery of LNG fuel to vessels in Singapore.

Licensees are required to own or charter at least one LNG bunker vessel (LBV) for the entire licence period. The LBV must be registered with the Singapore Registry of Ships and comply with MPA’s Standards for Port Limit LNG Bunker Vessels[1].

To support international shipping’s decarbonisation efforts, applicants are required to submit a proposal detailing their technical readiness to supply LNG fuels with lower lifecycle greenhouse gas emissions, such as liquefied bio-methane and e-methane. The proposal should also cover intended supply pathways and sourcing arrangements.

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Georgia Ports welcomes Seaboard Marine’s weekly service to Latin America and Caribbean

Seaboard Marine has announced the return of direct, weekly service to and from Savannah, Georgia, to strengthen supply chains across the U.S. Southeast, Latin America, and the Caribbean.

Piero Buitano, Senior Vice President, said, “With the return of Savannah calls, Seaboard Marine continues to invest in new vessels, strategic routes, stronger connections, and dependable service. We are providing importers and exporters across the Southeast with improved transit times, greater schedule integrity, and the reliability they need to grow their businesses. Seaboard Marine remains focused on strengthening its supply chains and delivering value to the customers and communities it serves.”

The first northbound sailing arrived in Savannah on January 7th, after departing from Colombia with stops in Cartagena, Barranquilla, Santa Marta, and Rio Haina, Dominican Republic.

Georgia Ports expanded refrigerated service offerings will include: On-terminal CBP/Agricultural inspections performed in a temperature-controlled environment for fresh produce; direct discharge from vessel to Customs Exam Site for inspection staging, reducing dwell time and accelerating the cargo release process; multi-room, multi-temperature inspection zones designed to accommodate a wide range of produce; two dedicated fresh produce inspection doors, supporting up to 14-16 inspections per day, with the ability to expand over time and the ability to handle palletized perishable cargo quickly and efficiently for CBP inspections.

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Scorpio Tankers Inc. Announces Update on its Liquidity, Outstanding Debt, and Vessel Purchase Commitments

Scorpio Tankers Inc. announced today an update on its liquidity, outstanding debt, and its forward newbuilding vessel commitments.

Update on Current Liquidity and Debt

The table below summarizes the Company’s outstanding indebtedness and liquidity as of the dates presented, and on a pro-forma basis to illustrate the impact of announced vessel sales and debt repayments that are pending closing:

The Company has $783.9 million in availability under its revolving credit facilities as of January 9, 2026.

Since October 28, 2025, the Company sold its remaining 3,551,794 common shares in DHT Holdings Inc. at an average price of $13.40 per share.

In November 2025, the Company closed on the previously announced sales of the 2020 built MR product tanker, STI Maestro for $42.0 million and the 2014 built MR product tankers, STI Battery, STI Venere, and STI Milwaukee, each for $32.0 million.

In early December 2025, the Company closed on the previously announced sales of the 2014 built MR product tanker STI Yorkville for $32.0 million and the 2019 built LR2 product tanker STI Lobelia for $61.2 million.

Newbuilding Purchase Commitments

The table below summarizes the Company’s previously announced commitments to purchase newbuilding vessels consisting of two Very Large Crude Carriers (“VLCCs”) with deliveries expected in the second half of 2028, two LR2s with deliveries expected in the third quarter of 2027, and four MRs with a delivery expected in each of the second and fourth quarter of 2026 and two deliveries in 2027.

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From Operation Sindoor to Venezuela: How Chinese weapons and radars are underperforming

From Operation Sindoor to Venezuela: How Chinese weapons and radars are underperforming

China, one of the world’s largest arms exporters, is facing growing scrutiny after a string of battlefield episodes raised doubts about the reliability of its defence systems. From the reported failures of Chinese-supplied equipment during India’s Operation Sindoor to the swift US operation in Venezuela, Beijing’s military technology has repeatedly come under criticism, unsettling potential buyers.

A Taiwanese official, quoted by Newsweek, said the US operation in Caracas — which reportedly led to the capture of President Nicolás Maduro and his wife — dealt a serious reputational blow to China. The episode, the official said, highlighted Washington’s continued technological edge over military hardware supplied by Beijing.

Operation Sindoor and Pakistan’s air defence

During Operation Sindoor in May last year, Indian forces reportedly struck key military and terror-linked targets in Pakistan. Several assessments claimed that Chinese-supplied air defence systems, including the HQ-9, failed to intercept incoming strikes, including BrahMos missile attacks.

Pakistan, which sources nearly 82% of its defence imports from China, was seen as a key showcase market for Beijing’s military exports. The operation, however, exposed what critics described as serious vulnerabilities in Chinese-made systems when tested against Indian and Western-origin platforms.

Reports suggested that HQ-9 and HQ-16/LY-80 air defence units struggled to perform even around sensitive installations. The PL-15 beyond-visual-range missile, marketed as a competitor to advanced Western systems, reportedly malfunctioned or failed to hit targets, with Indian officials later displaying fragments of a recovered missile. Chinese-origin fighter aircraft such as the J-10C and JF-17 Block III were also said to have had limited impact on Indian air operations, despite unverified claims to the contrary. 

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