Skip to main content

Featured Post

Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona
Post a Comment

China’s Cosco Shipping and Fortescue Partner to Build Green Fuel Supply Chain

 

China’s Cosco Shipping Corp has entered into a preliminary agreement with Australia’s Fortescue Metals Group to develop a green fuel supply chain aimed at reducing pollution in the shipping industry, the Chinese company announced on Monday.

Key Takeaways:

  • Green Fuel Collaboration: The memorandum of understanding between Cosco Shipping and Fortescue includes the exploration of constructing and deploying green ammonia-fueled vessels. These vessels will be used to transport iron ore and other minerals, significantly cutting carbon emissions in the China-Australia iron ore green shipping corridor.

  • Commitment to Sustainability: "We are committed to increasing cooperation with global partners to actively promote the green and sustainable development in the shipping industry throughout its life cycle," stated Cosco Shipping, headquartered in Shanghai, via its WeChat account.

  • Decarbonization Goals: Fortescue, known as the world’s fourth-largest iron ore supplier and an integrated green technology, energy, and metals company, emphasized the importance of this cooperation. "The cooperation marks another big step in decarbonizing the shipping industry ... These solutions will be integral to achieving our net zero Scope 3 emission target by 2040," Fortescue said.

  • Recent Developments: Fortescue's executives have been in China recently, engaging with potential partners for joint projects. On July 25, CEO Dino Otranto highlighted these discussions.

  • Innovative Trials: Earlier this year, Fortescue conducted the world’s first trial using ammonia as a shipping fuel in the port of Singapore, demonstrating its commitment to pioneering green fuel technologies.

This partnership between Cosco Shipping and Fortescue represents a significant move towards reducing the environmental impact of the shipping industry and advancing green technology in global logistics.

Labels:

Comments

Post a Comment

Popular posts from this blog

INTC Share Watch and News

Stock Info Market Monitor Company Profile Intel Corporation designs, manufactures, and sells integrated circuits for computing and communications industries worldwide. It offers microprocessor products used in notebooks, netbooks, desktops, servers, workstations, storage products, embedded applications, communications products, consumer electronics devices, and handhelds. The company also offers system on chip products that integrate its core processing functionalities with other system components, such as graphics, audio, and video, onto a single chip. It also provides chipset products that send data between the microprocessor and input, display, and storage devices, such as keyboard, mouse, monitor, hard drive, and CD or DVD drives; motherboards that has connectors for attaching devices to the bus, and products designed for desktop, server, and workstation platforms; and wired and wireless connectivity products, including network adapters and embedded wireless cards used to translat
1 comment
Read more

Analysts See Asset Resilience of Bank of Chengdu Benefiting Hong Leong Bank

Analysts predict that the asset quality of Bank of Chengdu, in which Hong Leong Bank Bhd holds a 19.76% stake, will remain robust due to its strict risk management policies and proactive measures. Key Takeaways: Strong Risk Management Practices : According to CIMB, Bank of Chengdu has adopted a conservative risk culture, performing thorough assessments of location, developer reputation, project viability, and management integrity before financing property projects. The bank closely monitors early warning signals like construction progress, sales progress, budget overruns, and fund usage by developers to mitigate potential risks. Proactive Measures Against Property Slowdown : The bank's precautionary measures allowed it to reduce exposure to problematic property loans and exit risky loans before China's property market slowdown. This conservative approach is expected to benefit Hong Leong Bank by minimizing potential asset quality concerns. Continued Optimism and Buy Recommendat
Post a Comment
Read more

Investors Keep Buying US Junk Debt Despite Weak Protections

  When US-based construction material supplier Wilsonart issued a junk bond to raise US$500 million (RM2.13 billion) for an acquisition this summer, a research firm warned potential investors about the bond's weak protections. The bond’s covenants could allow the company to move valuable assets to another entity and raise more money, potentially disadvantaging bond investors, according to Covenant Review , a research firm. This warning comes amid growing concerns in credit markets as more companies engage in practices like "liability management exercises," where they borrow more against the same assets. These practices, often favoring some creditors over others, have been dubbed "creditor-on-creditor violence," prompting some creditors to unite to protect their interests. Despite the warnings, investors eagerly purchased Wilsonart's offering, underscoring a paradox in US credit markets. While investors face the consequences of weak covenants, they continu
Post a Comment
Read more