Russia retained its position as China’s top oil supplier in March, with China’s imports up 12.5% y-o-y to 10.81 mn metric tons,Reuters reported on Saturday, citing customs data. Imports from China’s previous lead supplier, KSA, declined 29.3% over the same period to 6.3 mn tons in March, the newswire said. The ramp up in China’s imports was driven by China’s decision to uptake Russian sokol crude, which was stranded aboard tankers due to tightening sanctions, as well as a push to stockpile reserves.

US ports brace for cyberattacks as threats from state actors China, Iran, and Russia increase,with Biden inking an executive order to boost cybersecurity at ports in February, while also encouraging ports to encrypt data, patch vulnerabilities, and maintain a skilled cyber team, CNBC reported last week. “More needs to be done across the ports, and supply chain,” Port of Los Angeles executive director Gene Seroka said, with the port stopping some 750 mn attempted cyberattacks last year. The Biden administration is also concerned about Chinese-made cranes, which account for over 80% of cranes used at US ports, and presenting risks in terms of hidden software intended to open gaps in cybersecurity, CNBC also said.

OTHER STORIES WORTH KNOWING THIS MORNING-

  • Boeing makes its largest purchase of SAF: Boeing has purchased 9.4 mn gallons of blended sustainable aviation fuel (SAF) to support its US commercial operations in 2024, 60% more than it purchased in 2023, in a bid to curb emissions. The blended product is 30% SAF and 70% conventional jet fuel. (Statement)
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