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China's CATL invests in hydro on stricter battery rules
China's CATL invests in hydro on stricter battery rules
Beijing, 21 July (Argus) — China's largest battery producer, CATL, plans to invest in a hydropower project in Yajiang county, Ganzi prefecture, Sichuan province, through a joint venture (JV) with state-owned power producer SDIC Power, in a move that could help secure renewable electricity supply and reduce the carbon footprint of its battery products. CATL and SDIC Power will establish a JV, Yalong River Yagen Hydropower Development, to develop a second hydropower station downstream of an existing project on the Yalong River, SDIC Power said on 21 July. The project has a total planned investment of 33.39bn yuan ($4.66bn), with CATL holding a 10pc stake in the Yagen JV. Construction is expected to take around 101 months, with the first generating unit scheduled to enter operation in 2035 and full commissioning targeted for 2036. The station will be capable of replacing 2.664GW of coal-fired and natural gas-fired power generation capacity once commissioned, SDIC power said. Based on thermal-equivalent calculations, the project is expected to save approximately 2.535mn t/yr of standard coal and 2.086bn m³/yr of natural gas, while reducing CO2 emissions by around 4.51mn t/yr. The investment highlights growing efforts by battery manufacturers to secure access to renewable electricity as they seek to lower emissions across their supply chains. The project could help CATL lock in long-term green power supplies and support its broader strategy of reducing the carbon footprint of battery production. CATL has increasingly emphasized the commercial value of emissions reductions and low-carbon manufacturing, according to sources familiar with the matter, as battery producers face stricter sustainability requirements from overseas customers and regulators. Earlier this year, CATL invested Yn10bn to establish a zero-carbon technology company in Xiamen. In June, the company's EnerD+ energy storage products received one of the first certifications issued under China's pilot programme for product carbon-footprint labelling. The certification was the first, and so far the only, national-level carbon-footprint certification awarded to a lithium battery product in China. The EU is one of the major export markets for Chinese battery suppliers. The EU's Carbon Border Adjustment Mechanism (CBAM) and the bloc's new battery regulation have introduced more stringent requirements for carbon footprint reporting and emissions performance across battery supply chains. The EU announced in July 2023 that it will require electric vehicle (EV) and industrial batteries with a capacity greater than 2kWh placed on the EU market to be electronically registered from 18 February 2027. This registration will take the form of a battery passport featuring an identification QR code and CE marking. The hydropower investment also reflects a broader trend of battery manufacturers seeking greater control over upstream resources, energy supply, and decarbonisation pathways as global demand for EVs and energy storage systems continues to expand. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Senate Democrats target wind lease terminations
Senate Democrats target wind lease terminations
Houston, 20 July (Argus) — A group of US Senate Democrats is investigating agreements between President Donald Trump's administration and project developers that have collectively abandoned nine offshore wind leases in return for more than $2.7bn in financial reimbursements and pledges to invest in various other energy projects. The senators on 17 July called on four companies that have reached agreements with the US Interior Department to provide details about the circumstances and arrangements that led them to relinquish leases acquired during former president Joe Biden's tenure. The group is made up of 13 Democrats and one independent, led by senator Alex Padilla (D-California) and Senate minority leader Chuck Schumer (D-New York). The companies targeted include Chicago developer Invenergy , France's TotalEnergies , North Carolina-based utility Duke Energy and Ocean Winds , a 50:50 partnership between EDP Renewables and Engie. "These buyouts risk setting a dangerous precedent that could encourage further misuse of public funds to terminate clean energy projects in certain states in favor of fossil fuel investments that benefit other states," the senators said. Through the settlements, the Trump administration has agreed to pay the four companies more than $2.7bn from the Judgment Fund, an allocation created by Congress in 1956 and managed by the US Treasury Department to pay for lawsuits settled against the federal government. The use of the fund to pay for the cancelations — which "may not be permissible under statute", according to the senators — is one of the numerous grounds on which Democrats have contested the arrangements . The administration similarly turned to the Judgment Fund in May as the source for a nearly $1.8bn "anti-weaponization fund" to reimburse "victims of lawfare" with "formal apologies and monetary relief" as part of a legal settlement between Trump and the US Internal Revenue Service. The US District Court for the Eastern District of Virginia in June stopped the administration from setting up the fund while it considers a broader challenge to its legality, and the administration last week sought to dismiss that case because the fund "is not going forward" any longer. In addition to requesting any correspondence related to the deals, the senators are seeking details of the negotiations that ultimately led to the settlements, including when "initial conversations" with the Trump administration began and whether the administration threatened to suspend the companies' offshore wind projects if they elected to push forward with them. The senators also requested information on national security risks identified by Interior, any hearings on the terminations ahead of the deals, and specifics about the fossil fuel-related investments on which the administration predicated the settlements. The deadline for responses is 7 August. None of the companies immediately responded to requests for comment, including whether they intend to cooperate with the inquiry. Scrutiny over the deals has not been limited to Congress. The settlements have similarly drawn fire from states that had been counting on the projects to help meet growing electricity demand and clean energy goals. A coalition of seven northeast US states last month sued the US government over the TotalEnergies agreement , while California has signaled it will take similar steps to challenge the Invenergy and Ocean Winds agreements if Interior does not promptly void them. By Patrick Zemanek Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Houthi navigation ban could disrupt Saudi steel imports
Houthi navigation ban could disrupt Saudi steel imports
London, 20 July (Argus) — Yemen's Houthi rebel group said on 20 July that it was imposing a ban on maritime navigation linked to Saudi Arabia, framing the move as a response to what it described as the kingdom's ongoing blockade of Yemen and military aggression against the country. The move could threaten not only crude exports from Saudi Arabia's Red Sea terminal of Yanbu, but also steel shipments into the kingdom. The immediate exposure appears higher for vessels sailing to Saudi Red Sea ports from Asia through the Bab el-Mandeb strait, while cargoes reaching ports such as Jeddah or King Abdullah Port from the Mediterranean via the Suez Canal would avoid the Bab el-Mandeb area and may face a lower operational risk, unless the Houthis seek to target Saudi port calls more broadly. "I guess the situation will get worse and will definitely affect shipping charges, because vessels would have to turn around the whole of Africa, especially given the impact on the strait of Hormuz," a trader said. "Let's see what happens in the next few days. Only the Europe gate will remain open." The Houthi group said in a statement that the measure would take effect immediately under a "siege for siege" formula. It also warned of further escalation should Saudi Arabia take additional military steps, while calling for continued mobilisation across Yemen. Saudi Arabia imported around 3.1mn t of steel products in the first quarter of 2026, down from 3.8mn t a year earlier, according to Global Trade Tracker (GTT). China was the largest supplier of steel products to Saudi Arabia in the first quarter, shipping around 1.2mn t, GTT data show. This included 667,000t of hot-rolled coil, 21,000t of cold-rolled coil, 140,000t of hot-dipped galvanised steel, 132,000t of semi-finished products including slabs and billets, as well as other steel products. Any disruption to Red Sea shipping could therefore complicate inbound flows of flat steel, semi-finished products and other steel cargoes. At least two steel cargoes from China are currently en route to Saudi Arabia's Red Sea coast and have not yet crossed Bab el-Mandeb. The 55,561dwt Better Victory is carrying steel from Tangshan to King Abdullah Port, while the 56,860dwt Dato Success is sailing from Caofeidian to the same port, according to analytics firm Kpler. Neither vessel has shown signs of turning around. Several tanker owners had already been preparing for a possible escalation, as the Houthis have used "siege for siege" rhetoric for some time. The very large crude carrier (VLCC) VL Pioneer made a U-turn in the Red Sea on 17 July and is now ballasting eastward instead of heading to Yanbu, according to Kpler data. The VLCC Farhah , which loaded at Yanbu on 10 July, made a U-turn at Bab el-Mandeb on 17 July and returned to the Saudi port, Kpler data show. But a number of vessels are still transiting the Red Sea. The Houthi move could also put upward pressure on additional war risk premiums for ships transiting Bab el-Mandeb. Premiums were still relatively low in mid-June, at around 0.20-0.30pc of hull and machinery value for a seven-day period, with a 50pc no-claim bonus, according to market participants. By Andrey Telegin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
German buyers source from Miro on Rhine shipping woes
German buyers source from Miro on Rhine shipping woes
Hamburg, 20 July (Argus) — Traders that usually load at Rhine or Main terminals are increasingly sourcing fuels from the Miro refinery in southwest Germany because of tightening supply conditions. Low Rhine water levels have cut inland shipping capacity and lifted price levels in western Germany. The river's level at Kaub restricted vessels on routes from the Amsterdam-Rotterdam-Antwerp (ARA) hub to the Main and Upper Rhine to under 20pc of normal cargo capacity in the week to 17 July. At the same time, shipowners report stronger demand for barge space, as more vessels are needed to move the same volumes. Freight rates for destinations along the Main and Upper Rhine have risen sharply as a result. Restricted resupply options and rising transport costs have pushed wholesale prices in the Rhine-Main region disproportionately higher than in other German regions. Traders report tighter product availability, especially for gasoline. The 310,000 b/d Miro refinery in Karlsruhe continues to run at high rates while local demand remains weak. Suppliers there have raised prices far less than at barge-supplied terminals. Some Rhine-Main traders are accepting longer hauls from Karlsruhe, as procurement there remains competitive despite higher logistics costs. Heating oil demand remains weak. Diesel demand is supported by seasonal consumption from agriculture and construction, but traders said many end users are deferring purchases where possible. Prices rose sharply early in the week on higher Ice gasoil futures. Futures climbed by nearly $90/t on 14 July after the US government announced a resumption of its blockade policy towards Iran in the strait of Hormuz. Heating oil and diesel prices in Germany rose by up to €11.40/100l compared with the previous day. A fire broke out last week at BP's 251,000 b/d Gelsenkirchen refinery , shutting a diesel desulphurisation unit. BP said the rest of the plant was unaffected. Local traders said diesel and gasoline loadings there had already been halted since 13 July for pipeline maintenance, so the unit outage initially had no additional market effect. By Johannes Guhlke Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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