News

⑴ Due to the impact of the Middle East conflict, sea freight rates have surged sharply, and some US liquefied petroleum gas buyers have canceled previously scheduled cargo shipments to Asia. ⑵ According to informed sources, at least two batches of cargo originally scheduled to be shipped from US Gulf Coast export terminals next month have already been canceled, and some buyers are in discussions to cancel additional orders. ⑶ The situation in the Middle East has caused near-total shutdown of the Strait of Hormuz and obstructed gas supply channels in the Persian Gulf region, forcing Asian liquefied petroleum gas buyers to urgently increase purchases from US sources earlier. ⑷ The main indicator measuring the profit from US liquefied gas exports to East Asia—the Far East Index versus Mont Belvieu price spread—continues to narrow. Coupled with the sharp rise in freight rates, the previously considerable profits for traders have now been completely wiped out.

On May 28, according to Bitget market data, the Seoul Composite Index has expanded its intraday decline to 4%, with both SK Hynix and Samsung dropping over 3%.

Gelonghui, May 28｜According to the Financial Times, the UK government will prevent Indian billionaire Mittal from increasing his stake in BT Group. The report, citing sources familiar with the matter, stated that if Indian tycoon Sunil Bharti Mittal attempts to increase his holdings in BT, the UK government will oppose it.