Connect with us

Published

on

Al HUDAYDAH, YEMEN – JULY 17: Yemen’s replacement oil tanker Nautica floats over its arrival to Al Hudaydah port in the Red Sea on July 17, 2023 in Hudaydah, Yemen. The United Nations handed over the replacement vessel Nautica to the Sana’a government to transfer the crude oil from the deteriorating supertanker to prevent a large-scale environmental disaster if the ship’s cargo leaks into the ocean. (Photo by Mohammed Hamoud/Getty Images)

Mohammed Hamoud | Getty Images News | Getty Images

Energy prices for Europe are expected to increase as more petroleum products and crude tankers are diverting away from the Rea Sea and Suez Canal. Longer trips for the Middle-Eastern barrels that replaced Russian flows to Europe introduce supply issues, and this is leading to a “sea change” in commodity purchases by Europe, and a boost for Atlantic Basin crude suppliers including the U.S. and Brazil.

According to global trade intelligence company Kpler, at least six crude tankers are currently taking the much longer route around Africa’s Cape of Good Hope rather than the Suez Canal, a diversion caused by the Houthi rebel attacks and which can add up to 45 days to the voyage.

Europe is at the center of the diversions because its tanker supplies are at high risk of attack.

“The decision for these diversions is by the owners of the oil, which is European,” said Viktor Katona, lead crude analyst at Kpler. “European countries are seen as complicit in the Israel-Hamas war. They would rather go around the Cape of Good Hope versus taking a chance through the Red Sea.”

The resulting delays to the delivery of products — which include crude, diesel, and LNG products — vary based on the commodity being carried. LNG vessels travel faster than oil tankers because they are lighter and they can sail up to 21 knots versus the 12-13 knots for crude tankers.

Before the Red Sea disruptions, a tanker from Jamnagar, India to Rotterdam, Netherlands would have taken 24 days. Sailing through the Cape of Good Hope, the duration of the same voyage has risen to 42 days. From Basrah, Iraq, to Milazzo, Sicily, a voyage that would have taken 17 days will now take 42 days.

The longer transits can put a squeeze on the availability of tankers, with their return journey to be loaded up with product longer.

“It’s not just the arrival that is delayed, the tankers have a longer route home to be filled back up,” Katona said. “You are looking at 90 days for one delivery. That is a huge amount of time. The market is underestimating the impact of the transit duration.”

He said to expect tankers on the spot market see an increase in freight rates, and noted that in the past few days tankers carrying “clean products” such as diesel and gasoline have been going up.

Aramco CEO: Red Sea events have a lot of implications for the industry

“Ironically, the tensions in the area are benefitting tanker owners with longer voyages, increasing tanker utilization and ultimately higher freight rates,” said Andy Lipow, president of Lipow Oil Associates.

Katona warned that the diversions are going to be a prolonged, painful event, but a boost for both the U.S. and Brazilian energy industry. “We are seeing Europeans remodeling their purchasing patterns from companies in the Atlantic basin with no logistics constraints,” he said.

The U.S. is the largest supplier to the European market of diesel, with diesel rates recently hitting their highest level in seven years.

According to Clarksons Securities, product tanker rates soared towards the end of last week, following a drop in Red Sea activity. A long range 2 (LR2) tanker vessel that is typically capable of carrying around 75,000 metric tons of the hydrocarbon naphtha, saw an increase in earnings of 33% week over week to $74,200/day, as of Monday. Medium range (MR) tankers which typically can carry between 30,000-40,000 metric tons of gasoline or gas oil, saw earnings rise 34% week over week to $42,500/day.

“It’s more expensive, but Europeans will receive it [the diesel] faster,” Katona said.

Europe has strategic petroleum reserves with 90 days supply, so there are no worries about Europe running out of oil, but he added, “The new reality is Europe will get their oil but with an insane freight cost attached to it.”

‘Looming upside risk’ in march of diverted tankers

The ENI’s Faithful Warrior was the first tanker to start the trend when it diverted on January 11. The tanker is currently in the South African territorial waters. Since then, Kpler has tracked a subsequent array of tankers that have diverted away on route to ports: Agitos to Rotterdam, Nissos Sikinos to Fos in France, Kimolos to Aliaga, Turkey, Odessa to Pachi Megara, Greece, and the tanker Kinyras, which still hasn’t flagged its final destination, according to Katona.

“Iraqi tankers carrying crude to Europe have started to sail almost uniformly towards the Cape of Good Hope,” Katona said. “Interesting, there’s just one tanker carrying Iraqi crude and going through the Bab el Mandeb Strait, incidentally taking the cargo to Turkey, to the same Tupras [refinery operator] that saw its previous cargo seized by Iran’s IRGC off the Omani coast. So they haven’t stopped trusting the route.”

Torm, Hafnia, Stena Bulk, Hafnia, BP, Frontline, Equinor, Euronav and Shell are among the tanker operators and energy companies choosing to avoid the area following recent warnings. 

Kevin Book, managing director of Clearview Energy Partners, said this parade of tankers is part of the “looming upside risk” it has been relaying to clients.

“Longer trips for the Middle-Eastern barrels that replaced Russian flows to Europe introduce supply latency, which can be bullish in its own right. And if it looks too risky to ship from Iraq through the Suez to Europe, then cargoes from other regional producers could soon follow suit,” Book said.

No indication U.S. strikes are changing calculation of the Houthis, says RBC's Helima Croft

Continue Reading

Environment

Jackery launches Explorer 600 v2 power station + bundle with up to $120 savings, Anker SOLIX F3000 station back at $1,399 low, more

Published

on

By

Jackery launches Explorer 600 v2 power station + bundle with up to 0 savings, Anker SOLIX F3000 station back at ,399 low, more

Leading today’s Green Deals is Jackery’s newly launched Explorer 600 v2 Portable Power Station, as well as a solar bundle option, with up to $120 discounts that start from $380. Right behind it, as part of Anker’s ongoing Halloween Sale, we spotted a promotion dropping the new SOLIX F3000 Portable Power Station back to its $1,399 low, as well as plenty of discounted bundles. We also have Govee’s Matter Outdoor Lamp Post at a second-ever $300 low, a $200 discount on the Rad Power RadRover 6 Plus e-bike, a two-tool 80V Greenworks bundle low, a collection of Worx tool deals, and much more waiting for you below. And don’t forget about the hangover deals that are collected together at the bottom of the page, like yesterday’s Anker SOLIX camping-ready Halloween Sale deals, the $661 bundle of FREE gear on Lectric’s new long-range XP Trike2 750, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Jackery launches Explorer 600 v2 640Wh LFP power station and a solar bundle starting from $380

Jackery has launched the next of its second-generation remodels, with the Explorer 600 v2 Portable Power Station at $379.99 shipped. This all-new unit will carry a full price of $500 once these initial savings die down, with no sign of its availability on Amazon yet. The deal here gives you a 24% markdown off its full rate, cutting $120 off the tag and setting the bar for future discounts in coming months. Alongside the solo station option, you can also pick up the station with a 100W portable solar panel for $579.99 shipped, down from $699.

As we’ve been seeing with other models under Jackery’s flag, this new Explorer 600 v2 station comes as an upgraded descendant of the Explorer 600 Plus, with a slightly bigger 640Wh LiFePO4 battery capacity within a compact unit that is perfect for carrying with you on short-term trips away from home. You’ll get up to 500W of steady power (1,000W surging peak) through the six output ports to cover devices: two ACs, two USB-Cs, one USB-A, and a cigarette lighter port. While its predecessor is rated for 4,000 charging cycles, this new revamped model brings a higher 6,000-cycle lifespan alongside a 5-year warranty, so you’ll definitely be getting your money’s worth.

Advertisement – scroll for more content

You’ve got three primary means to recharge the Jackery Explorer 600 v2’s battery. The first, of course, is with a standard AC outlet that will have it back to full in an hour’s time, or you can utilize up to its max 200W solar input for solar charging – which the bundled 100W panel can have back to full in 6.5 hours. Lastly, you can get on-the-go charging plugging it into your car’s auxiliary cigarette lighter port, which takes a little over six hours to put back to 100% from empty.

anker's solix f3000 portable power station

Anker’s Halloween Sale returns the new SOLIX F3000 power station to its $1,399 Prime Day low

As part of Anker’s ongoing SOLIX Halloween Sale, we spotted returning low prices on the brand’s new F3000 Portable Power Station and bundles starting from $1,399 shippedafter using the code SOLIXHAW03 at checkout for an additional $100 offbeating out Amazon’s pricing by $70. Normally going for $2,599 when at full price since hitting the market in June, we saw this low rate first appear two weeks ago during the brand’s Prime Day Sale and continuing with the event’s extension, which ended last week. Now, with its latest sale going, Anker is giving folks another shot at the best price we have tracked, cutting $1,200 off the tag. Head below for the full lineup of this station’s bundle deals.

If you want to learn more about this station, or browse its lineup of bundle deals, be sure to check out our original coverage of these deals here, with camping-ready deals also available here.

front yard being lit by govee's outdoor lamp post

Govee’s Matter Outdoor Lamp Post can join your yard detail for a $300 low

Through its official Amazon storefront, Govee is offering its Matter Outdoor Lamp Post at $299.99 shipped, which also matches the price directly from the brand’s website. It was brought down from its $430 full price two weeks ago during the Prime Day event to this rate, which has been sticking around in the time since, giving you plenty of opportunity to pick one up for your yard. You’re looking at the lowest price we have tracked on this newer lighting device, which only fell to this rate once before in July.

You can learn more about this device’s capabilities by checking out our original coverage of this second-ever deal here.

woman riding rad power's radrover 6 plus e-bike on farm with greenhouses in background

Enjoy commutes and/or joyrides down streets or off-road on Rad’s RadRover 6 Plus e-bike for $1,399

As part of its ongoing Haul-o-ween Sale, Rad Power Bikes is offering a solo price cut (as opposed to bundles of FREE gear) on the RadRover 6 Plus Fat Tire e-bike to $1,399 shipped. This popular model would normally run you $1,599 at full price, with discounts over the year having mostly dropped the cost between $1,399 and $1,299, though we have seen some rare falls further to the $1,199 low. It may not be the lowest price, but you’re still looking at a solid $200 slashed from the tag for the third-lowest price we have tracked.

If you want to learn more about this e-bike, be sure to check out our original coverage of this deal here, while you can also browse Rad Power’s full Haul-o-ween Sale lineup here.

greenworks 80V 16-inch string trimmer and leaf blower combo kit
woman using Worx's Trivac and LeafPro system to pick up leaves in front of flower bed

Best Fall EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

The Jeep Recon EV is finally almost here and it’s ready to join the Wrangler off-road

Published

on

By

The Jeep Recon EV is finally almost here and it's ready to join the Wrangler off-road

The Recon EV will be revealed in full soon. Jeep’s CEO shut down rumors that the Wrangler-sized electric off-roader was dead, saying the Recon EV will go on sale shortly.

Jeep’s electric off-roader will go on sale in Spring 2026

Although the Recon was initially set to debut in 2023 with sales starting the following year, don’t count it out just yet.

Bob Broderdorf, who took over the reins as Jeep’s new CEO in February, says rumors that the electric off-roader has been cancelled are far from true.

In fact, Jeep plans to sell it, even if you don’t want it. According to MotorTrend, Broderdorf is promising more details on the Recon EV are coming soon with sales kicking off next spring.

Advertisement – scroll for more content

With Stellantis shaking up electrification plans, speculation began to spread that the Jeep Recon EV would be next to get the axe. Luckily, it doesn’t look like that will be the case.

Jeep first unveiled the Recon EV as a concept in 2022, promising the electric off-roader would be not only be able to tackle the Rubicon trail with enough charge to get back to town and recharge. It’s not a replacement, but the Recon is “inspired by the legendary Wrangler,” according to Jeep.

Jeep's-electric-off-roader
Jeep Recon EV (Source: Stellantis)

The Recon will be Jeep’s first true off-road EV. Leading up to its official debut, we’ve seen the electric off-roader out in the wild a few times now.

Spy shots of the interior surfaced on JeepReconForum last year, confirming the SUV will feature Jeep’s signature Selec-Terrain traction control system with different modes like “Rock” and “Mud.” The closer it gets to its final form, the more the Recon looks like a Ford Bronco rather than the Wrangler.

Even if it doesn’t sell well, Jeep considers the all-electric Recon as a key model as it looks to corner the off-road market.

Stellantis will build the Recon at its Toluca, Mexico plant alongside the Wagoneer S, Jeep’s first electric SUV in North America. The Jeep Cherokee and Compass are also built at the facility, all of which share the same STLA Large platform.

Jeep-Recon-EV
Jeep Recon Moab 4xe (source: JeepReconForum)

“We can shift and move. It is OK if [Recon] is low volume,” Broderdorf said, adding “If I have to sell more Cherokees, so be it.”

Although Jeep has yet to reveal final specs and prices, the Recon EV is expected to debut with about 350 miles of range. Prices are expected to start at around $60,000, or slightly less than the Wagoneer S. More premium trims, like the MOAB and Rubicon could cost closer to $80,000.

Broderdorf promised more details are coming soon. He also said the company plans to reveal more info on the future Wrangler shortly. Will we see an electric Wrangler? If so, it likely won’t be until the next generation in 2028.

Until then, Jeep will use the Recon EV and Wrangler as a twin threat as it looks to gain control of the off-road market.

While the Recon will arrive soon, Stellantis cancelled Ram’s first fully electric pickup and trimmed the Dodge Charger EV to just one variant.

Jeep’s CEO sees a market for electric vehicles, in particular the Recon. “We’ve got a great car. We’ve already built it. We should sell it, we should learn. I don’t know how many it will be. I’m not really that worried about it,” Broderdorf said. Even with the $7,500 federal tax credit now expired, Jeep expects EVs to sell in markets like California.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Tesla (TSLA) Q3 earnings preview: what to expect from its record quarter

Published

on

By

Tesla (TSLA) Q3 earnings preview: what to expect from its record quarter

Tesla (TSLA) will release its Q3 2025 financial results on Wednesday, October 22, after the market closes. As usual, a conference call and Q&A with Tesla’s management are scheduled after the results.

Here, we’ll look at what the street and retail investors expect for the quarterly results.

Tesla Q3 2025 deliveries and energy deployment

Even though CEO Elon Musk and his loyal shareholders like to claim that Tesla is now an AI/Robotics company, the reality is that Tesla mostly moves metals.

The company’s automotive business continues to drive the vast majority of its financial performance.

Advertisement – scroll for more content

Tesla’s revenue remains tied mainly to the number of vehicles it delivers.

Earlier this month, Tesla disclosed its Q3 2025 vehicle production and deliveries:

  Production Deliveries Subject to operating lease accounting
Model 3/Y 435,826 481,166 2%
Other Models 11,624 15,933 7%
Total 447,450 497,099 2%

That’s a record number of vehicles delivered.

Furthermore, Tesla confirmed that it deployed 12.5 GWh of energy storage capacity during the quarter.

Those two record numbers combined should result in Tesla reporting higher revenues.

Tesla Q3 2025 revenue

For revenue, analysts generally have a pretty good idea of what to expect, thanks to the delivery numbers and now the energy storage deployment data.

The Wall Street consensus for this quarter is $26.457 billion, and Estimize, the financial estimate crowdsourcing website, predicts a lower revenue of $26.266 billion.

Here are the predictions for Tesla’s revenue over the past two years, with Estimize predictions in blue, Wall Street consensus in gray, and actual results are in green:

If Tesla meets or beats expectations, it would report higher quarter revenue than ever before.

Tesla Q3 2025 earnings

Analysts are trying to estimate Tesla’s gross margin with a first positive reversal in deliveries this year.

For Q3 2025, the Wall Street consensus is a gain of $0.55 per share and Estimize’s crowdsourced prediction is a little higher at $0.57.

Here are the earnings per share over the last two years, where Estimize predictions are in blue, Wall Street consensus is in gray, and actual results are in green:

As you can see, Tesla’s estimated record revenue is not expected to translate into record earnings, as the company has reduced prices in response to increased competition.

Tesla reported earnings of $072 per share during the same period last year.

In short, analysts are expecting Tesla’s earnings downtrend to continue despite record revenues.

Other expectations for the TSLA shareholder’s letter, analyst call, and special ‘company update’

I think we should expect a very bullish management call in Q3. We have been reporting on this for a few months on Electrek, but Tesla pushed its shareholders meeting, which is generally held in the summer, to the first week of November for good reason.

Tesla knew that the end of the tax credit would result in demand being pulled forward into Q3, leading to a strong Q3. Even though it will mean a few very difficult quarters afterward, the company will take the time to boast about it just before shareholders vote on management through Musk’s compensation package and a few board seats in two weeks.

However, I would also expect Wall Street analysts to ask a few questions about how Tesla is expected to perform in the next few quarters, given the incentives and credits in the US.

Tesla will also take questions from retail shareholders based on the most popular ones on Say. Here are the top 5 questions and my thoughts on them:

  1. What are the latest Robotaxi metrics (fleet size, cumulative miles, rides completed, intervention rates), and when will safety drivers be removed? What are the obstacles still preventing unsupervised FSD from being deployed to customer vehicles?
    • Musk has been wrong about self-driving timelines for a decade now, and he manages to get away with it thanks to a very lenient shareholder base that likes it when he pumps up the stock with hyperbole and crazy predictions.

      However, the shorter the timeline, the harder it is to let this slide. Musk said that Tesla Robotaxi would cover half the US, and it would remove supervisors by the end of the year.

      The only way this is possible is if “Robotaxi” is what Tesla launched in the Bay Area, meaning Tesla employees in the driver’s seat using FSD. If Tesla does remove the supervisor, I believe it will only be in Austin and with a lot of limitations and remote monitoring.

  2. What is demand / backlog for Megapack, Powerwall, Solar, or energy storage systems? With the current AI boom, is Tesla planning to supply power to other hyperscalers?
    • I think people should expect Tesla’s growth in the energy sector to slow and stabilize at around 18 GWh next year, which is still impressive, by the way.
  3. What are the plans for new car models? Will Tesla build compact car models leveraging the unboxed Cybercab platform? Will Tesla build a traditional SUV and pickup truck in the Cybertruck platform?
    • Generally, Tesla doesn’t answer those kind of questions during an earnings call, but I think management will try to pump the best they can ahead of the shareholders meeting.

      Furthermore, after the flop that was the stripped-down Model Y and Model 3, I wouldn’t be shocked if Tesla revives plan for the compact car even though Musk poo-pooed it quite a bit over the last year.

  4. What are the present challenges in bringing Optimus to market considering app control software, engineering hardware, training general mobility models, training task specific models, training voice models, implementing manufacturing, and establishing supply chains?
    • As we have been reporting for the last few months, the Optimus program is in shambles. I expect Musk to confirm delays in the production ramp. He previously said that Tesla would build about 5,000 Optimus robots in 2025. I think he will delay that, but he will reiterate some ridiculous long-term goals.
  5. What is your projection for when FSD will allow for unsupervised driving?
    • He literally said by the end of the year a few months ago. He said that every year for the last 6 years. I don’t know why anyone cares to have his opinion on it at this point.

As you can see, most questions from retail investors concern Tesla’s future products and Elon’s predictions about their impact.

Meanwhile, earnings are declining because Tesla’s once-incredible core business of selling cars is rapidly deteriorating.

Tune in with Electrek after market close today to get all the latest news from Tesla’s earnings, conference call, and now also an apparent “company update.”

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending