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Key hurdles for the two projects include the country's caps on domestic gas prices, limits on gas exports and the high costs for carbon capture and storage - required for new gas projects to help fight global warming. Last month, Shell (SHEL.L) said it would sell its holding in the Masela project to Indonesia's Pertamina and Malaysia's Petronas, while Chevron (CVX.N) agreed to sell its stake in the IDD project to Italy's Eni (ENI.MI). Reuters GraphicsNEW TERMS NEEDEDOnce one of the world's top five liquefied natural gas (LNG) exporters, Indonesia's LNG exports have halved in the past decade, Kpler data showed. The country has not approved a major oil or gas project since 2016 - the expansion of BP's (BP.L) Tangguh LNG plant. The current formula for splitting revenue between the government and investors in gas projects sets the base rate at 48% for companies.

Persons: magnifier, Dado Ruvic, Benny Lubiantara, Andrew Harwood, Wood Mackenzie, SKK Migas, Benny, Prateek Pandey, Takayuki Ueda, Naing, Inpex's Ueda, Fransiska Nangoy, Bernadette Christina Munthe, Emily Chow, Yuka Obayashi, Florence Tan, Sonali Paul Organizations: REUTERS, Indonesia, Shell, Chevron, Indonesia Deepwater Development, Petronas, Eni, Essential Services, Reuters, Indonesia Petroleum Association, Rystad Energy, BMI Research, Fitch Group, Tcf, Thomson Locations: Indonesia, JAKARTA, Jakarta, Chevron, Tokyo, Masela, Singapore

☆ The internet just went on a wild quest that could result in floating trains and cheap EVs
▼ + stars: | 2023-08-11 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +8 min

The internet went wild over claims scientists discovered a room-temperature superconductor. Here's how a room-temperature superconductor could change everything:Revolutionize the medical industryMRI machines currently depend on liquid helium coolant to keep cool enough to operate. A room-temperature superconductor would go a step further in helping create these fields under normal conditions. With room-temperature superconductors, EV makers might be able to take a closer step towards delivering cheap battery-run cars. This is where room-temperature superconductors could one day step in.

Persons: It's, gloriously, Dr Niladri Banerjee, Banerjee, Michael Fuhrer, Massoud Pedram, Eugene Hoshiko, they'd, Jason Laurea, Lawrence, Robert Knopes, Getty Images Elon, Tesla Organizations: Imperial College London, Theory, School of Physics, Monash University, University of Southern, Airport, Lawrence Livermore National Laboratory, MIT's, Science, Fusion Center, Fusion Systems, Getty Images, TechCrunch Locations: South Korea, Australia, University of Southern California, Shanghai, China, Pudong, levitating, Lawrence Livermore

China's increased appetite for thermal coal from Australia and Russia has led to a shift in imports by India, the world's second biggest coal buyer. From December to February India's imports of Australian thermal coal had been above 1 million metric tons per month, peaking in January at 1.79 million. In contrast India is turning back to thermal coal from Indonesia, with July arrivals of 6.87 million metric tons, up from 6.04 million in June. For July, Indonesia's share of India's thermal coal imports was 63%, which was the highest since the 65% in April. China and India both generally import Australian thermal coal of a lower energy value than the traditional buyers of Japan, South Korea and Taiwan.

Persons: David Gray, it's, Indonesia's, Shri Navaratnam Organizations: REUTERS, Labor Party, Liberal, National, China, Argus, Reuters, Thomson Locations: Ulan, New South Wales, Mudgee, Australia, LAUNCESTON, Beijing, Asia, China, Mongolia, Indonesia, Russia, India, Japan, South Korea, Taiwan, Australia's Newcastle, Ukraine

☆ India succeeds in reducing emissions rate by 33% over 14 years - sources
▼ + stars: | 2023-08-09 | by ( Sarita Chaganti Singh | ) www.reuters.com time to read: +3 min

REUTERS/Adnan Abidi/File PhotoNEW DELHI, Aug 9 (Reuters) - India's greenhouse emissions rate dropped by a faster-than-expected 33% in 14 years as renewable energy generation rose and forest cover increased, according to two officials privy to latest assessment made for submission to the United Nations. India's rate of emissions intensity - the total amount of greenhouse gas emissions emitted for every unit increase of gross domestic product (GDP) - fell by 33% from 2005 to 2019, officials privy to the preparations of the Third National Communication (TNC) report said. India's average rate of reduction in emissions increased to 3% annually in the period 2016-2019, from just about 1.5% in the period 2014-2016. The progress made on reducing emissions intensity should help India avert pressure by developed nations to stop using coal, the second official said. Recently, India has also been trying to promote green hydrogen, manufactured by splitting water molecules using renewable energy.

Persons: Adnan Abidi, Sarita Chaganti Singh, Simon Cameron, Moore Organizations: REUTERS, United Nations, National Communication, Reuters, Reuters . Central Electricity Authority, Reuters Graphics Reuters, Thomson Locations: New Delhi, India

We're selling 200 shares of Halliburton (HAL) at roughly $40.64 each Following Wednesday's trade, Jim Cramer's Charitable Trust will own 1,400 shares of HAL, decreasing its weighting to 1.97% from 2.24%. HAL YTD mountain Halliburton YTD performance Supporting the energy trade of late has been the impressive recovery in oil and natural gas . The recent move in HAL and our energy stocks has us feeling a little greedy about our three positions, which also at one point this year were in the red. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. A Halliburton oil well fielder works on a well head at a fracking rig site January 27, 2016 near Stillwater, Oklahoma.

Persons: Jim Cramer's, Halliburton, We'll, Jim Cramer, Jim, Pat Carter Organizations: Halliburton, HAL, Technology, West Texas, Coterra, Natural Resources, CNBC, Getty Locations: Stillwater , Oklahoma

☆ Natural gas prices are soaring as energy workers in Australia look poised to strike, threatening global supply
▼ + stars: | 2023-08-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Natural gas prices surged as much as 9% on Wednesday as energy workers in Australia threatened to strike. Australia is the world's second-largest exporter of liquefied natural gas, so potential work stoppages could threaten global supply of the commodity. Natural gas prices have surged 22% over the past week, but are still down 60% from a year ago. Natural gas prices are up 22% over the past week, but are still down 60% from a year-ago. Shares of Cheniere Energy, a US-based exporter of liquefied natural gas, surged as much as 5% in Wednesday's trading session.

Persons: Rankin, Goodwyn, Chevron's Wheatstone Organizations: Service, Workers, Australian Financial, Chevron, Cheniere Energy Locations: Australia, Wall, Silicon, Western Australia, Qatar, Woodside, Australian, Chevron's, Ukraine, Russia, US

LAUNCESTON, Australia, Aug 8 (Reuters) - China's imports of major commodities lost momentum in July in a further sign that the world's second-biggest economy is struggling to boost flagging growth. While June's imports were the second-highest on record, the July outcome was the weakest since October last year on a barrels per day basis. In the first seven months of 2023, China's copper imports slid 10.7% to 3.04 million metric tons. Iron ore imports dropped to 93.48 million metric tons in July, down 2.1% from June's 95.52 million. For the first seven months of the year China's coal imports came in at 261 million metric tons, some 86% above the same period in 2022.

Persons: It's, Brent, China's, Lincoln Organizations: Administration of Customs, Brent, Reuters, Thomson Locations: LAUNCESTON, Australia, China

An employee of a private security company stands in front of the logo of commodities trader Glencore during the company's annual shareholder meeting in Cham, Switzerland May 24, 2017. Analysts at Deutsche Bank had expected half-year earnings of $9.9 billion, while Citi's estimate was $11.4 billion. The company announced additional returns of around $2.2 billion, including a $1 billion special dividend and a $1.2 billion share buyback programme that will run until February 2024. Glencore in June offered to buy Teck's coal business as a standalone unit, having been rebuffed twice in its $22.5 billon bid to combine the two companies. As part of the deal, Glencore would spin-off and merge its thermal coal business with Teck's steelmaking coal one to form a separate New York-listed company.

Persons: Arnd, Glencore, Gary Nagle, Nagle, MARA, didn't, Bunge, Clara Denina, Pratima Desai, Kirsten Donovan Organizations: REUTERS, Canada's, Canada's Teck Resources, Tinto, Teck Resources, Deutsche Bank, Citi, U.S, Thomson Locations: Cham, Switzerland, Canada's Teck, Teck, China, New York, London, U.S

☆ Here's why we're reviewing our price target on an oil stock after quarterly results and guidance
▼ + stars: | 2023-08-07 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Oil and natural gas producer Coterra Energy (CTRA) delivered mixed results after the closing bell Monday, with second-quarter sales missing expectations and profit outpacing estimates. However, natural gas liquid prices missed estimates. While management did raise their outlook for total production along with their production targets for oil and natural gas, they left capital expenditure expectations alone. Given the pressure seen on commodity prices, particularly in natural gas, management was forced to lower their outlook for operating cash flow and free cash flow. Guidance Forward guidance for both the third quarter and full year 2023 was mixed — and unfortunately, the full-year misses were on management's cash flow forecasts.

Persons: We'll, Jim Cramer's, Jim Cramer, Jim, Pavlo Gonchar Organizations: Coterra Energy, Revenue, Refinitiv, Natural Resources, Management, West Texas, CNBC, Energy Inc, Getty

☆ Heat camera captures scorching nature of record Phoenix heat wave
▼ + stars: | 2023-08-07 | by ( Carlos Barria | ) www.reuters.com time to read: 1 min

Filed: August 07, 2023, 2 p.m. GMTAs the world registered the hottest month of all time in July, the southwestern U.S. city of Phoenix shattered its own 1974 heat-wave record, with temperatures above 110 degrees Fahrenheit (43°C) for 31 straight days. Before 10am at one of the city’s favorite sites - the Desert Botanical Garden - the thermometer is already at 111F (44°C), but a Saguaro cactus records a surface temperature of 120F (49°C). A man walks on a road with no shirt and a bottle of water. The camera puts his temperature at 105F. In the thermal images, the lighter the colours, the higher the temperature.

Locations: U.S, Phoenix

☆ Ukrainian snipers say they don't care for big leafy ghillie suits, but they're fans of these Western rifles
▼ + stars: | 2023-08-05 | by ( Ryan Pickrell | ) www.businessinsider.com time to read: +5 min

Ukrainian snipers rarely use ghillie suits, camouflage preferred by Western snipers, several marksmen told the Kyiv Post. For the US military, ghillie suit preparation is a key part of sniper training. A ghillie suit is not always necessary to achieve that though. But while they aren't fans of the ghillie suit, there's a few Western weapons they're fond of. The weapons that were tossed aside when these Western weapons showed up were the Soviet/Russian-made SVD "Dragunov " sniper rifles.

Persons: Vladimir Shtanko, Kyiv Post's Stefan Korshak, John Moore, Barrett MRAD, Barrett, Norma Magnum Organizations: Western, Kyiv Post, Service, Training Center, National Guard, Anadolu Agency, Getty, Kyiv, 28th Brigade, TAC, US Army, Marines, NATO Locations: Kyiv, Canada, Finland, Wall, Silicon, Novi Petrivtsi, Kiev, Ukraine, Ukrainian, Bakhmut, Soviet, Russia

☆ This little-known data center servicer could see A.I. tailwinds, says Bank of America
▼ + stars: | 2023-08-04 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Vertiv is well-positioned for gains as its margins recover due to the artificial intelligence boom, according to Bank of America. Analyst Andrew Obin upgraded the data center servicer's shares to buy from underperform and raised his price target 54% to $40 from $26. Artificial intelligence adoption within data centers adds incremental demand for Vertiv's thermal management products," Obin wrote in a Wednesday note. Vertiv's strong portfolio in thermal management , which helps protect IT spaces and data centers, also leaves it better-positioned than its peers to see upsides from AI tailwinds, Obin said. Adoption of AI will drive more graphics processing unit chips into data centers, generating more heat and requiring thermal management, said Obin.

Persons: Vertiv, Andrew Obin, Obin, — CNBC's Michael Bloom Organizations: Bank of America, Emerson Network Power, Emerson Electric, Platinum Equity

We recommend Snake River Farms as the best option in our guide to the best meat delivery services in the 'best high-quality variety' category. Head over to the Beef Week sale page and save big on various mix-and-match steaks with the Snake River Farms promo code: BEEFWEEK. Save up to 35% on Snake River Farms meat deliveryDeal icon An icon in the shape of a lightning bolt. Limited-Time Deal Snake River Farms Steaks (Save 35% on six featured Beef Week cuts) Snake River Farms offers meat delivery of premium steaks like massive 2-pound Cowboy steak; New York Strip; Filet Mignon; and more, in addition to pork, brisket, and seafood. BEEFWEEK $269.75 from Snake River Farms Originally $415.00 Save 35%Premium Wagyu steak delivery and moreIf you're unfamiliar with Snake River Farms, it's a direct farm-to-table service that removes the middleman from every step of the meat-making supply chain.

Persons: there's, Mignon, Price, Filet Mignon, Ribeye Organizations: Beef, Michelin, Washington Beef, Agri Beef, Nutrition Systems Locations: York, New York, Washington

A flare burns off excess gas from a gas plant in the Permian Basin in Loving County, Texas, U.S., November 25, 2019. Experience suggests drilling rates turn down about 4-5 months after futures prices and production rates turn down about 12 months after prices. Like oil, gas production has continued to increase in a lagged response to very high prices during the second and third quarters of 2022. Gas production growth is set to slow sharply in the second half of 2023 and into the first half of 2024 which should erode excess inventories during the winter of 2023/24. Related columns:- U.S. oil and gas production set to turn down later in 2023 (July 5, 2023)- U.S. oil and gas output still rising in response to high prices last year (June 1, 2023)- U.S. oil and gas output growth set to slow sharply (May 3, 2023)- U.S. oil drilling falls in response to lower prices (February 27, 2023)John Kemp is a Reuters market analyst.

Persons: Angus Mordant, John Kemp, David Evans Organizations: REUTERS, Angus Mordant LONDON, “ Petroleum, U.S . Energy Information Administration, OPEC ⁺, Traders, Thomson, Reuters Locations: Loving County , Texas, U.S, Gulf, Mexico, Ukraine, Saudi Arabia, OPEC, Saudi

☆ Pooping, splooting, spitting: How wild animals beat the heat
▼ + stars: | 2023-08-04 | by ( Jack Bantock | ) edition.cnn.com time to read: +5 min

CNN —Hottest day, hottest week, hottest month, and – increasingly likely – hottest year; 2023 has garnered unwanted records as the climate crisis escalates. From peculiar methods like “splooting,” to changing physiology altogether, here are four ways different creatures are trying to beat the heat. Splooting is a popular method of thermoregulation for squirrels, especially among larger species, as they do not lose much body heat through sweating, Devitz explained. A 2021 report noted that some animals are developing larger beaks, legs and ears to better regulate their body temperatures. Spitting and snottingTwo Australian animals put their bodily fluids to good use in the battle to beat the scorching temperatures of the outback.

Persons: –, you’ve, ”, splooting, Charlotte Devitz, Splooting, Devitz, “, Celal, ” Sara Ryding, Jami Tarris, Christine Cooper, Klaus, Dietmar Gabbert Organizations: CNN, Collins, Anadolu Agency, Getty, Deakin University Locations: New York City, Washington ,, Australian, Australia

☆ Hyundai and Kia warn drivers of 90,000 vehicles to park outside due to fire risk
▼ + stars: | 2023-08-03 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

These include 2023 Kia Soul and Sportage vehicles and 2023 and 2024 Kia Seltos models. Last year, owners of nearly 500,000 Kia and Hyundai vehicles were, similarly, warned to park their vehicles away from structures because of a risk of fire. Hyundai and Kia also recalled over 250,000 vehicles in 2022, again warning drivers to park outside, because of the potential for fire from a trailer hitch wiring issue. In a 2021 recall, owners of 380,000 Kia vehicles were also warned to park outside because there was a risk of fire from electronic circuits under the hood. In 2020, Kia recalled 295,000 vehicles because they could catch fire while driving because of fuel leaks.

Persons: Hyundais, Kia Organizations: CNN, Hyundai, Kia, National, Hyundai Motor Group Locations: United States, Canada, South

☆ Hyundai, Kia recall 91,000 US vehicles over fire risks, urge owners to park outside
▼ + stars: | 2023-08-03 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

[1/2] Hyundai logo is seen during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. The recall covers Hyundai 2023-2024 Palisade, 2023 Tucson, Sonata, Elantra, and Kona vehicles and 2023-2024 Seltos and 2023 Kia Soul, Sportage vehicles. Owners will be notified in late September and dealers will inspect and replace the electric oil pump controller as needed. Kia said it has six reports of potentially related thermal events but no accidents or injuries while Hyundai has four similar reports. In addition to the fire risk, heat damage could trigger a short circuit impacting other onboard vehicle controllers, Hyundai said.

Persons: Wolfgang Rattay, Kia, David Shepardson, Jane Merriman, Nick Zieminski Organizations: REUTERS, Hyundai, Kia, Traffic, Administration, Thomson Locations: Munich, Germany, KS, United States, Tucson

☆ Chesapeake Energy posts fall in Q2 profit on lower natural gas prices
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Chesapeake Energy logo is seen on smartphone in front of displayed stock graph in this illustration taken January 25, 2022. REUTERS/Dado Ruvic/IllustrationAug 1 (Reuters) - Chesapeake Energy (CHK.O) on Tuesday posted a fall in second-quarter profit on lower natural gas prices and production. Relatively mild temperatures and higher inventories had also dented natural gas prices. In May, the company said it anticipated volatility in natural gas markets to persist, and that it could hold off bringing some wells online if low prices continue. Out of which 96% accounted for natural gas and 4% was total liquids.

Persons: Dado Ruvic, Baker Hughes, Tanay, Maju Samuel Organizations: Chesapeake Energy, REUTERS, Thomson Locations: U.S, Ukraine, United States, Bengaluru

Snake River Farms has a great opportunity to stock up and save big on meat delivery in its annual Beef Week sale, running until August 6, 2023. Save up to 35% on Snake River Farms meat deliveryDeal icon An icon in the shape of a lightning bolt. Limited-Time Deal Snake River Farms Steaks (Save 35% on six featured Beef Week cuts) Snake River Farms offers meat delivery of premium steaks like massive 2-pound Cowboy steak; New York Strip; Filet Mignon; and more, in addition to pork, brisket, and seafood. BEEFWEEK $269.75 from Snake River Farms Originally $415.00 Save 35%Premium Wagyu steak delivery and moreIf you're unfamiliar with Snake River Farms, it's a direct farm-to-table service that removes the middleman from every step of the meat-making supply chain. But the best way to try Snake River Farms today is by taking advantage of this sale, which you can do by visiting the links ahead through August 6.

Persons: Mignon, Price, Filet Mignon, Ribeye Organizations: Beef, Michelin, Washington Beef, Agri Beef, Nutrition Systems Locations: York, New York, Washington

Asia's imports of the super-chilled fuel were estimated at 21.85 million metric tons in July by commodity analysts Kpler, up from June's 21.28 million and the most since January. Europe's imports were estimated at 8.72 million metric tons in July, down from June's 9.06 million and lowest monthly total since August last year. The Kpler data point to an increase of just 570,000 metric tons in Asia's imports in July, while Europe saw a drop of 340,000. Among Asia's major importers, China's demand remains muted with Kpler estimating July arrivals at 5.88 million metric tons, down from 6.20 million in June. South Korea, the world's third-biggest LNG buyer, saw July imports of 2.81 million metric tons, a small decline from June's 2.92 million.

Persons: Robert Birsel Organizations: LNG, Europe's, Reuters, Thomson Locations: LAUNCESTON, Australia, Europe, June's, Asia, Ukraine, Japan, China, South Korea, India, U.S, United States, Europe's U.S

☆ Exxon profits slump 56%, joins global peers in energy price hit
▼ + stars: | 2023-07-28 | by ( Sabrina Valle | ) www.reuters.com time to read: +4 min

Profits for global oil majors have dropped by about half from a bumper 2022, when Russia's invasion of Ukraine sent oil and gas prices soaring. Excluding last year's record second quarter, however, Exxon posted its strongest result for the April-to-June quarter in more than a decade, the largest U.S. oil company said, helped by cost cuts and the sale of less profitable assets. "You would have to go back to the second quarter of 2011 to find the last time we produced this level of earnings in the second quarter" excluding last year, she said. "Exxon results came in slightly weaker than expected across earnings and cash flow," RBC analyst Biraj Borkhataria wrote in a note. It distributed about $8 billion in cash to shareholders in the second quarter, including about $3.7 billion in dividends.

Persons: Kathryn Mikells, Biraj Borkhataria, Darren Woods, Woods, Mikells, Sabrina Valle, Sonali Paul, Jason Neely, Marguerita Choy Organizations: Exxon, Reuters, RBC, Chevron, Brent, Reuters Graphics Reuters, Thomson Locations: Ukraine, U.S, Guyana

☆ Wind and solar are propping up the Texas power grid amid a brutally long heat wave
▼ + stars: | 2023-07-28 | by ( Ella Nilsen | ) edition.cnn.com time to read: +4 min

Thank wind and solar, energy experts say. “The thermal plants have bounced up and down,” Lewin told CNN, saying thermal plant outages during heatwaves have been high by Texas grid manager ERCOT’s own standards. The state is also rapidly installing battery storage, to store wind and solar energy when the sun isn’t shining and wind isn’t blowing. “I think what they’re leaving out is the intermittency of the thermal plants, they continue to neglect that,” Lewin said. That’s not to say renewables are a panacea, but the point is thermal plants are also not a panacea.”

Persons: ” Michael Webber, “, Doug Lewin, Webber, ” Lewin, ERCOT’s, Mark Felix, ”, ERCOT, Lewin, that’s Organizations: CNN, Texas, “ Renewables, University of Texas, Energy Information Administration, Renewables, Energy, US Energy Information Administration, Lone Star Locations: Austin, Texas, Hill County , Texas, AFP, Gulf of Mexico

SummaryCompanies Q2 profits slump 56% at Shell, 49% at TotalEnergies y/yOil, gas, LNG prices much lower in 2023 vs 2022TotalEnergies sees LNG prices recover somewhat in winterShell slows pace of share buyback programmeLONDON/PARIS, July 27 (Reuters) - Shell (SHEL.L) and TotalEnergies (TTEF.PA) reported sharp falls in second-quarter profit from bumper 2022 earnings as oil and gas prices, refining margins and trading results all weakened. Oil and gas prices soared last year in the wake of Russia's invasion of Ukraine but energy prices have dropped sharply this year as fears of shortages eased amid global economic challenges. Reuters GraphicsShell's shares were down 1.9% at 0755 GMT and TotalEnergies' slipped 0.4%, compared with a 1% decline in the European index of oil and gas companies (.SXEP). Prices for liquefied natural gas (LNG), a key product for both groups, dropped to $11.75 per million British thermal units (mmBtu) from around $33. Both Shell and TotalEnergies had flagged shrinking profit from refining crude oil into fuel and chemicals in the quarter.

Persons: TotalEnergies, Shell, Wael Sawan, Patrick Pouyanne, Ron Bousso, Shadia, America Hernandez, Susan Fenton Organizations: Shell, Reuters Graphics, Brent, Thomson Locations: PARIS, Ukraine, TotalEnergies

The earnings, which missed forecasts, follow bumper earnings in 2022 after energy prices surged in the wake of Russia's invasion of Ukraine, but were in line with its second-quarter performance two years ago. In June, Shell announced it would buy back at least $5 billion in shares in the second half of the year. Shell shares were down 1.7% by 0730 GMT, compared with a 1% decline for the broader European energy index (.SXEP). Reuters GraphicsWEAKER QUARTERThe lower results mainly reflected lower liquefied natural gas (LNG) trading results, lower oil and gas prices, lower refining margins, and lower sales volumes, compared with the previous quarter, Shell said. Oil and gas prices soared last year in the wake of Russia's invasion of Ukraine but energy prices have dropped sharply this year as fears of shortages have eased.

Persons: Shell, Wael Sawan, Sawan, Jefferies, Giacomo Romeo, TotalEnergies, Norway's, Ron Bousso, Christina Fincher, Jason Neely Organizations: Shell, Reuters Graphics, Benchmark Brent, Thomson Locations: Ukraine

That risk has been put under the spotlight by the burning car carrier drifting off the Dutch coast. While all logistics companies deal with the risk of EV lithium-ion batteries burning with twice the energy of a normal fire, the maritime industry hasn't kept up with the developing technology and how it creates greater risk, maritime officials and insurers said. There were 209 ship fires reported during 2022, the highest number in a decade and 17% more than in 2021, according to a report from insurer Allianz Global Corporate & Specialty (AGCS) (ALVG.DE). The European Maritime Safety Agency said in a March report the main cargo types identified as responsible for "a large share of cargo fire accidents included ... lithium-ion batteries." Firemen typically put out EV battery fires on roadsides by clearing the area around the burning vehicle and flooding the underside with water, something difficult to do on a RoRo, Dillon said.

Persons: hasn't, EVs, Shoei, Nathan Habers, Douglas Dillon, John Frazee, Marsh, Dillon, Frazee, KVNR's Habers, Joe Biden's, Lisa Baertlein, Anthony Deutsch, Victoria Waldersee, Ben Klayman, Diane Craft Organizations: Allianz, ANGELES, Dutch coastguard, RTL, Allianz Global Corporate, Specialty, Maritime Safety Agency, Royal Association of Netherlands, Tri, Maritime Safety Association, Auto, Firemen, EV, International Maritime Organization, Reuters, Thomson Locations: AMSTERDAM, Dutch, EVs, Delaware, Pennsylvania, New Jersey, China, Europe, Los Angeles, Amsterdam, Berlin

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