The vote of the US Trade Panel opens the door to imposing stiff tariffs on solar imports
The U.S. International Trade Commission decided on Tuesday that a flood cheap imports from Southeast Asian countries threatened or materially damaged domestic solar panel manufacturers. This decision brings the United States closer to imposing heavy duties on these goods. The three-member ITC voted "yes", meaning that the Commerce Department would issue orders to enforce anti-dumping and countervailing tariffs on solar panels imported from Malaysia. Thailand, Cambodia, and Vietnam. This was a decision the agency made last month. This vote settles a trade dispute that lasted a year…
Equinor's executive states that Europe needs to compete on prices for gas refilling.
A senior Equinor executive said that Europe might need to continue offering attractive prices in order to secure the additional 30 billion cubic meters (bcm), of liquefied gas (LNG), needed to replenish their storage levels. Equinor estimated that Europe would require around 250-300 additional LNG cargoes in comparison to last year, to fill storage tanks that were left empty by two-thirds after the winter. This would result in a tight gas market. Peder Bjorland said that securing such volumes would be possible if Europe offered prices competitive with China and other Asian customers. Bjorland stated that China is returning and can be competitive.
Vietnam and Russia quickly agree to sign a nuclear power plant agreement
In a joint press release, Vietnam and Russia agreed to sign and negotiate agreements quickly on the construction of nuclear power plants in Vietnam. The statement was issued on Sunday, following a visit by To Lam to Moscow. Southeast Asia has resumed its plans to build nuclear power plants, which were suspended almost a decade earlier. This is part of the nation's efforts to increase its power generation capability to support its rapidly growing economy. The government had previously stated that it expected nuclear power plants to have a combined output of up to 6 GW between 2030 and 2035.
US tariffs and Europe's slowdown change global solar panel trade
Trade data revealed that solar panel manufacturers in Laos, Indonesia and Cambodia, which are mostly owned by Chinese companies, increased their market share in the U.S. after tariffs on exports to other Southeast Asian nations, including Cambodia and Thailand were imposed. After two rounds of tariffs last June and November, the U.S. Government finalised steep levies against imports of solar modules and cells from Vietnam, Malaysia and Thailand in April. This was to prevent dumping of these products by factories owned mainly by Chinese in these countries.
US tariffs and Europe's slowdown change global solar panel trade
Trade data revealed that solar panel manufacturers in Laos, Indonesia and Cambodia, which are mostly owned by Chinese companies, increased their market share in the U.S. after tariffs on exports to other Southeast Asian nations, including Cambodia and Thailand were imposed. After two rounds of tariffs last June and November, the U.S. Government finalised its steep levies against imports of solar modules and cells from Vietnam, Malaysia and Thailand in April. This was to prevent dumping of these products by factories owned mainly by Chinese in these countries.
The growth of the Indonesian GDP in Q1 is at its lowest level for more than three quarters.
Official data released on Monday showed that Indonesia's economy has grown by 4.87% over the past year, its lowest growth rate in three years. Analysts had predicted a growth rate of 4.91%. The growth rate between January and March was the lowest since the third quarter in 2021, down from the previous quarter's 5.02%. Statistics Indonesia showed that the gross domestic product decreased by 0.98% on a quarter-to-quarter non-seasonally-adjusted basis. Since the pandemic, Indonesia's economy has grown at a rate of 5%. The President of Indonesia, Prabowo Subianto, took office in January and has promised to increase that figure to 8% over his five-year tenure.
China's solar sector remains red as the trade war causes problems
China's solar producers reported losses in the last week, as President Donald Trump's Trade War put additional pressure on demand. This was an industry that already faced low prices and tariffs for exports to America. Longi Green Energy, JinkoSolar and other top producers reported a combined net loss of 1.4 bn yuan (193 million dollars) in the first quarter. Losses for competitors JA Solar, Trina Solar, and others totaled 1.6 bn yuan, 1.3 mn yuan, and 1.6 mn yuan respectively. Longi, who also reported a loss of 8.6 billion Yuan in 2024, informed analysts on a conference call that the demand for solar products is expected to remain flat in 2025.
First Solar reduces its annual sales and profits forecast due to near-term tariff problems
First Solar lowered their annual sales and profits forecasts on Tuesday, citing near-term challenges due to the ongoing U.S. - China trade war. They also cited a tepid demand for residential solar in the United States. This sent its shares down by 11% after hours trading. The U.S. demand for residential solar has been weakening due to high rates of interest and new metering regulations in California, the top market. These reforms have decreased the credits that customers get when they feed excess electricity into the grid. In the first week of this month, U.S.
Enphase Energy misses quarterly profit estimates, forecasts weak Q2 revenue
Enphase Energy, a solar inverter manufacturer, missed analyst expectations for the first-quarter profit due to a softening of demand in the United States. It also forecast revenue for the second-quarter below market expectations. Shares dropped 12.5% in after market trading. Enphase's residential solar inverter sales were affected by a softening of demand in California, the top U.S. state. The reform will be implemented in 2023. Enphase, based in Fremont, California, saw its quarterly revenue rise 35% from a quarter earlier to $356.1 millions, but it fell short of the estimated $360.9million.
US finalizes tariffs against Southeast Asian solar imports
U.S. Trade officials finalized tariffs on solar panels and cells from Southeast Asia. This is a major step in settling a trade dispute that has been raging for a year, with American manufacturers accusing their rivals overseas of flooding the market unfairly with cheap goods. The Commerce Department imposed preliminary antidumping, antisubsidy, countervailing duty on solar equipment imported from Malaysia, Cambodia Thailand and Vietnam last year. Hanwha Qcells from Korea, Arizona's First Solar Inc., and a number of smaller producers filed the case to protect their billions in investment in U.S. Solar Manufacturing.
Thailand will import more US LNG in the next five years.
Thailand will import more LNG from the United States in the next five-year period, said Finance Minister Pichai Chunhavajira on Wednesday. This was ahead of next week's meeting with U.S. officials to discuss tariffs. He said that there is an agreement for the import of 1 million metric tonnes of LNG valued at $500 million in 2020 as part of a plan to total 15 million tons over 15 years starting in 2026. Pichai stated that Thailand plans to sign an additional contract worth $600 million for the purchase of more than 1,000,000 tons of U.S. LNG over the next five-year period. He added that Thailand imports LNG and wants to become a distributor of the gas in the region.
South Korea and Vietnam boost their economic ties despite looming US trade tariffs
South Korea and Vietnam have agreed to expand their economic cooperation following a ministerial meet on Monday. This comes at a time of great urgency for both countries to reduce the impact of possible U.S. Tariffs. Ahn Duk-geun, South Korea's Minister of Industry, is in Vietnam to try and negotiate a reduction in the threatened U.S. Tariffs of 25% or 46% that would apply otherwise after July, when a global moratorium ends. Vietnam is South Korea's third largest export destination. 3 export destination. According to a South Korean statement,…
Mubadala Energy acquires Kimmeridge LNG and gas projects in the US
Mubadala Energy is an arm of Abu Dhabi’s sovereign wealth fund. It signed a deal with Kimmeridge, a US-based energy investor, on Thursday that gives it stakes in American gas assets. This marks its entry into the United States market, as part of the company’s growth plans. Mubadala Energy announced that the deal to purchase 24.1% of Kimmeridge’s SoTex HoldCo would give Mubadala Energy direct access to Kimmeridge’s unconventional gas production and to a Louisiana liquefied gas export project. The latter is expected to reach a final decision this year, with a first offtake scheduled for 2029.
Belgium's king meets Vietnam's leaders, hydrogen deals signed
On Tuesday, King Philippe of Belgium and Vietnamese leaders signed agreements to collaborate in areas such as green hydrogen. The first visit by a Belgian royal to Vietnam is accompanied by a large delegation of businessmen, academics and politicians. According to Vietnamese state-run media, Vietnam's president Luong Cuong described Philippe's visit as a landmark in bilateral relations. According to the EU Council's website, he urged Belgium ratify a 2019 investment protection agreement signed between Vietnam and the European Union. The agreement was signed but still requires ratification by one third of EU 27 member states.
Laos signs clean energy agreement worth $1.45 billion with Chinese industrial company
Laos signed a clean energy agreement worth $1.45 billion with a Chinese manufacturer of power plant equipment as it continues its drive to generate and transmit clean electricity. China Western Power Industrial and a Singaporean construction company signed an agreement with Xekong Thermal Power Plant, Laos. The project will design, supply and build a 1,800 megawatt clean energy power plant in southern Laos. This was revealed in a filing on the Sichuan stock exchange by the Sichuan based company. The project will be completed at the beginning of 2020, and the initial designs should be complete by the end this year. The project's energy source was not specified in the filing.
Russell: Renewables and gas are gaining ground on coal and oil
The latest review of the International Energy Agency shows that renewables and gas are the most popular energy sources. In its Global Energy Review published on Monday, the IEA described this growth rate as "faster-than-average". Electricity, the fastest growing sector, grew 4.3% by 2024 or almost twice the average annual growth rate of the last decade. In 2024, the IEA reported that renewable power capacity increased by 700 gigawatts. This was a record-breaking annual increase for a 22nd consecutive time. With the increase in nuclear power, 80% of global electricity came from low-emissions sources. The IEA review has two main themes.
Vietnam's PM announces that Vietnam will review duties on US LNG and high-tech products
A report on the website of the government said that Prime Minister Pham Minh Chinh had told the U.S. Ambassador to Vietnam that Vietnam was reviewing its duties against U.S. products. This includes liquefied gas, agricultural and high-tech goods. Southeast Asia's industrial hub, which relies heavily on exports to America and enjoys a large surplus in trade with Washington, is scrambling for ways to avoid the reciprocal tariffs the Trump administration has threatened to impose globally to reduce America’s trade deficit. Chinh stated that "relevant ministries and sectors are actively reviewing the import tariffs for goods from the United States.
Gunvor CEO: Global oil supply is growing faster than demand.
Gunvor's CEO, one of the largest oil traders in the world, stated on Monday that global oil supply is growing faster than demand. Last week, oil prices fell to a three-year-low due to a slowdown in demand growth in China as well as concerns over the global impact of President Donald Trump’s protectionist trade policy. "That's the issue." Tornqvist stated that the demand for diesel and gasoline has plateaued in China, which is the second-largest consumer of these fuels. In China, the rapid growth of electric vehicles has slashed gasoline demand. Meanwhile, a growing number trucks that run on natural gas have impacted diesel demand.
RPT-PowerChina Unit Sues Laos Utility for $555 Million
A review of an arbitration document shows that Nam Ou Power, part of the state-owned Power Construction Corp of China has sued Laos utility Electricite du Laos for $555m in unpaid hydropower dues. According to a source with knowledge of the case, EdL has not yet responded to the filing. The source also stated that this was the first time an entity run by the Chinese government had filed a claim against a Laos-owned firm. As the case is private, it was not possible to identify the person. The details of the case have been reported for the very first time.
Gunvor CEO: Global oil supply is growing faster than demand
Gunvor, one of the largest oil traders in the world, said that the global oil supply is growing faster than the demand. Last week, oil prices fell to their lowest level in three years due to a slowdown in demand growth and concern about the global economic impact of President Donald Trump's protectionist policies. Torbjorn Tornqvist, CEO of Gunvor, said that the demand for energy is still growing in the world but not by a large amount. He made this statement in an interview on the sidelines an industry conference in Houston. Tornqvist stated that the demand for diesel and gasoline has plateaued in China, which is the second-largest consumer of these fuels.
