Energy Shock & Shipping Costs: With the Strait of Hormuz still effectively tight, bunker fuel supply is getting squeezed and shipping firms are cutting speeds and revising schedules—while prices are spiking and operators are paying record premiums to reroute. Trade Reroutes: Panama Canal priority slot auctions have hit an unprecedented ~$4m per vessel as Middle East-linked flows shift. Sanctions Pressure on LNG: India has declined sanctioned Russian LNG, leaving at least one tanker near Singapore with no clear destination as talks continue on permitted cargoes. Singapore Business Pulse: Singapore’s commercial real estate deal activity surged to $10.03b in Q1, topping Tokyo for the first time since 2021. Payments Friction: Payoneer says payment failures and delays are costing Singapore merchants about US$12b a year, with APAC losing ~US$72b at checkout. Dealmaking & Finance: Sony Music Publishing is buying Recognition Music’s catalog for about $4b, with GIC involved—another sign of institutional money chasing music-rights cashflows. Regional Industry Angle: Malaysia and China are doubling down on EV, battery, renewables, smart manufacturing and TVET talent pipelines.