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Real-time News
On September 12th, Tuojing Technology announced that it plans to subscribe to an additional RMB 19.21574 million in registered capital of Tuojing Jianke, with a capital contribution of no more than RMB 450 million. Of this, RMB 270.9441 million will be contributed in the form of assessed debt claims against Tuojing Jianke, and RMB 179.0559 million will be contributed from the companys own capital. Tuojing Jianke Semiconductor Equipment Co., Ltd. is a wholly-owned subsidiary of Tuojing Technology Co., Ltd. This transaction involves a capital increase in a joint venture with a related party, Haining Zhanyang Technology Partnership, and constitutes a related-party transaction, but does not constitute a major asset reorganization as defined in the "Administrative Measures for Major Asset Restructuring of Listed Companies."Futures market data from September 12th revealed recent volatility in low-sulfur fuel oil futures. As of the morning close of September 12th, the LU2511 contract hit a low of 3,263 yuan/ton, and the LU2512 contract hit a low of 3,258 yuan/ton. This was primarily due to the increased low-sulfur supply caused by the RFCC unit shutdown at the Dangote refinery and sluggish marine fuel demand, putting downward pressure on low-sulfur fuel oil prices. Low-sulfur fuel oil supply is abundant, while high-sulfur fuel oil is declining. The extended Dangote refinery shutdown is increasing low-sulfur supply, with weekly exports expected to double over the next three months. The UAEs refusal to accept Sudanese crude oil may result in Dar Blend flowing into the Singapore market, opening a window for low-sulfur EW arbitrage. Although arbitrage cargoes arriving at Singapore are expected to decrease by 300,000 to 400,000 tons month-over-month, this has been offset by low-sulfur blending volumes, putting downward pressure on the overall supply side. Regarding high-sulfur fuel oil, the attack on Russian refineries and the USs new round of sanctions against Iran have led to lower high-sulfur shipments from Russia and Iraq in the Middle East in September, resulting in reduced exports. Supply-side disruptions are supporting high-sulfur fuel oil prices. On the demand side, the fading summer heat and the end of the Middle East power generation season are reducing fuel oil demand for power generation. Singapore fuel oil inventories are at a record high, and Zhoushan Port inventories remain high. Lukewarm spot trading is putting downward pressure on low-sulfur fuel oil prices.Governor of the Central Bank of Sri Lanka: Sri Lankas average annual foreign debt is expected to be around US$3.5 billion to US$4 billion in the next decade.Governor of the Central Bank of Sri Lanka: Sri Lanka still has more room to cut interest rates, but hopes to remain cautious.NHK: Passengers on United Airlines (UAL.O) Flight 32 were evacuated after indicators indicated a fire in the cargo hold.
