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Iranian soldiers take part in an annual military drill in the coast of the Gulf of Oman and near the strategic Strait of Hormuz.

Anadolu | Anadolu | Getty Images

The containership MSC Aries seized by Iran over the weekend marked at least the sixth vessel hijacked by Iran and its proxies in response to the Israel-Gaza war, and it’s adding to the challenges to longstanding freedom of navigation principles that maritime shipping relies on.

Before this weekend’s tanker seizure, the last vessel Iran hijacked was the St. Nikolas on January 1. According to U.S. Naval Forces Central Command, that brought the total number of vessels being held to five, and over 90 crew members hostage. Previous to that, the Iranian-backed Houthis hijacked The Galaxy Leader on November 19.

The latest development has shipping and energy experts bracing for a long-term timeline of uncertainty.

“Iran is in this for the long haul,” said Samir Madani, co-founder of Tankertrackers.com, an independent online service that tracks and reports crude oil shipments in several geographical and geopolitical points of interest.

The MSC Aries was identified by Iran as having a link to Israel. The containership has a carrying capacity of 15,000-TEUs (twenty-foot equivalent containers). MSC chartered the vessel, but it is owned by Israeli billionaire Eyal Ofer’s Zodiac Maritime.

MSC declined to comment.

Madani said he does not expect a quick release or negotiation of a release. “They will hold the MSC Aries for a long period. Iran has been holding some tankers for about a year, if not longer now,” he said.

According to Tankertracker information, Madani said the vessel is being held in the Khuran Straits, not too far from three other tankers Iran hijacked: the Advantage Sweet, Niovi, and St. Nikolas.

A Planet Labs satellite image of the location of the MSC Aries and other tankers recently hijacked by Iran.

Planet Labs PBC

As the U.S. considers more sanctions against Iran in response to its recent attack on Israel, Iran has been using the hijacked ships as a means of sanctions retaliation.

“Iran has already seized the Kuwaiti oil that was onboard the Advantage Sweet and has been loaded onto their VLCC supertanker the Navarz. Iran chose to do this as a way to compensate for sanctions,” Madani said.

While the Niovi was empty at the time of the seizure, the St. Nikolas is filled with a million barrels of Iraqi oil.

Treasury Secretary Janet Yellen said on Tuesday that the government may do more to prevent Iran’s ability to export oil despite U.S. sanctions. China’s purchases of Iranian oil in recent years have allowed Iran to keep a positive trade balance.

What to expect from oil prices

According to the U.S. Energy Information Agency, China, the world’s largest importer of crude oil, imported 11.3 million barrels per day of crude oil in 2023, 10% more than in 2022. Iran ranked second in oil exports to China behind Russia. Customs data indicates that China imported 54% more crude oil (1.1 million b/d) from Malaysia in 2023 than in 2022, with industry analysts speculating that much of the oil shipped from Iran to China was relabeled as originating from countries such as Malaysia, the United Arab Emirates, and Oman to avoid U.S. sanctions.

The markets continues to assess the risk of further escalation in the military tensions between Israel and Iran, which could lead to a disruption in the Strait of Hormuz, through which about 30% of the world’s seaborne oil passes, according to JPMorgan. On Tuesday, oil edged higher amid talk of sanctions.

An Iranian blockade would supercharge oil prices, but the risk is low given that the strait has never been closed off despite many threats by Tehran to do so over the past four decades, according to JPMorgan.

“They can’t close the Strait of Hormuz, but they can do significant damage to energy infrastructure, to vessels in the region,” RBC’s head of global commodity strategy and Middle East and North Africa research, Helima Croft, told CNBC on Monday, referring to Iran’s capabilities.

“While I can’t imagine Iran would want to fill up their anchorage with vessels, they want to keep the waters in a constant state of chaos,” Madani said. But with a closure, he said, “They would shoot themselves in the foot since their biggest client is China.”

Andy Lipow, president of Lipow Oil Associates, says the closure of the Strait of Hormuz would result in a spike of Brent crude oil prices to the $120 to $130 range. “This would strain ties with China and India who purchase a significant amount of Persian Gulf oil to meet much of their energy demand.”

Lipow also said Iran might be reluctant to shut the waterway for fear of antagonizing Saudi Arabia, Kuwait and Iraq, who depend on the strait being open for most of their oil exports. The bigger immediate fear in the oil market, he said, is that the attack by Iran on Israeli territory leading to a counterattack by Israel on Iran damaging oil-producing and exporting facilities.

Kevin Book, managing director of ClearView Energy Partners, says the markets need to keep an eye on sanctions from both the US and UN potentially.

In a note to clients, ClearView highlighted that the House of Representatives added several Iran sanctions bills to its calendar for consideration this week, under suspension rules, including new sanctions on Iranian oil exports to China. Book said the House was considering 11 bills in all in response to Iran’s attack on Israel.

“We think most if not all bills could garner (notionally) veto-proof bipartisan support,” the note said. “Passage requires a two-thirds majority of all members present and voting.”

Israel has also asked the U.N. to reinstate multilateral sanctions lifted by the Iran nuclear deal, but for this to happen, France, Germany and the U.K., parties to the nuclear deal, would have to agree. “There are many risks unfolding. The forest is on fire,” Book said.

Sen. Dean Sullivan talks impact of Iran's strikes on Israel and what it means for crude oil prices

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Get Blix’s Ultra e-bike with free accessories from $1,399, Anker PowerCore Reserve Power Station $110, and more

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April 29, 2024

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Get Blix's Ultra e-bike with free accessories from ,399, Anker PowerCore Reserve Power Station 0, and more

Kicking off this week’s Green Deals is a new Spring Savings sale from Blix Bikes that is taking up to $700 off its e-bike models and also giving you up to $465 in free add-on accessories, with the Ultra Fat-Tire All-Terrain e-bike hitting a new $1,399 low. It is joined by the return of the Anker PowerCore Reserve 60,000mAh Power Station to $110, as well as the Bosch Tronic 4000 6.5kW Electric Tankless Water Heater at $158. Plus all of the other green deals that have dropped today or are still hanging on from last week.

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.

Blix Ultra Fat-Tire All-Terrain e-bike hits new $1,399 low with $328 in free accessories

Blix Bikes has an ongoing Amazing Spring Savings sale that is taking up to $700 off its e-bikes and also including up to $500 in free add-on accessories while supplies last. One of the notable standouts is Blix’s Ultra Fat-Tire All-Terrain e-bike for $1,399 shipped, with $328 in free accessories along with your purchase. Down from its $2,099 price tag, today’s deal gives you back a combined $1,028 in savings and lands at a new all-time low, beating out Black Friday prices. Along with the e-bike you’ll also be receiving your free accessories package that includes both a front and rear rack, a cushion for the rear rack, and passenger foot pegs for the rear as well. Blix also offers an additional way to save by using the promo code RIDETOGETHER for $200 off when purchasing two e-bikes together.

The Blix Ultra e-bike is equipped with a 750W geared rear hub motor and your choice between one or two 48V batteries that pushes this e-bike up to max speeds of 20 to 28 MPH and travels a range of 40-80 miles, depending on your choice of battery setup. It offers five levels of pedal-assist with a 12-magnet cadence sensor, and a full digital display that relays real-time information such as battery level, odometer, speedometer, travel distance, pedal assist settings, and also supports Bluetooth connectivity to the Blix app for more comprehensive performance data. It also comes stocked with an integrated LED headlight and a pair of 26-inch fat tires for a smoother ride. Plus, with this deal you’ll also be getting the rear rack that can hold cargo and passengers alike with the added foot pegs should you be bringing another person along with you.

Anker PowerCore Reserve 60,000mAh Power Station returns to $110

The official Anker Amazon storefront is offering its PowerCore Reserve 60,000mAh Power Station for $109.99 shipped, after clipping the on-page $40 off coupon. Recently fetching $150, with an original $170 MSRP, this device rode its MSRP throughout 2023, with only a few discounts ever occurring – the biggest of which dropped costs to a $119 low. In the new year we saw a drop down to its new list price as the company switched from LiFePO4 batteries to typical models, followed by a drop in price to its new $105 low at the start of last month. Today’s deal comes in as a repeat 27% markdown off the going rate that lands at the second-lowest price we have tracked.

This power station has a 60,000mAh (192Wh) capacity that is tailored for personal use throughout your days rather than powering your camping sites. It sports a compact design of 4.59 inches by 4.59 inches by 8.17 inches and only weighs 5 pounds, making it easy to store and carry. You can even connect it to a solar panel for solar charging on-the-go, taking just 4 hours with a 60W input. It features a built-in retractable light with two brightness modes alongside an S.O.S. button to provide emergency lighting for safety during power outages or other emergency situations. You’ll also get four output ports to cover your personal devices: two USB-As and two USB-Cs. And for protection, you can even get a custom co2CREA Hard Case for $33.

Bosch Tronic 4000 6.5kW Electric Tankless Water Heater now $158

Amazon is offering the Bosch Thermotechnology Tronic 4000 6.5kW Electric Tankless Water Heater for $158.40 shipped. Down from $250, it spent the first half of 2023 keeping between its MSRP and $200. It wasn’t until Labor Day sales that we saw it drop further to its former $160 low, which we didn’t see beaten until March when its fell to the new $154 low. Today’s deal comes in as a 37% markdown off the going rate that gives you a solid $92 in savings and returns costs to the second-lowest price we have tracked. This 6.5kW under-sink tankless water heater is designed to provide an endless supply of instantaneous hot water to one or more commercial/residential sinks. It can be installed in a 360 degree orientation, with its 13-inch by 8.5-inch by 4.5-inch size making it easy to fit in tight under-counter spaces, and its low 0.55 GPM activation flow rate works perfectly for commercial low-flow faucets. It boasts a 96% thermal efficiency rate with no standby heat loss, saving you time, water, and money.

Spring e-bike deals!

Hover-1 Instinct e-bike standing on kickstand with NYC skyline in background, within post for Blix Ultra Fat-Tire All-Terrain e-bike

Other 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.

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California now has 1 EV fast charging station for every 5 gas stations

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April 29, 2024

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California now has 1 EV fast charging station for every 5 gas stations

California supercharger

Governor Gavin Newsom (D-CA) announced on Saturday that there is now one EV fast charging station for every five gas stations in California.

California has led the US in the number of EVs and EV charging stations every year since 2016, according to the US Energy Information Administration in December.

According to the governor’s office, 105,000 public or shared private EV chargers have been installed throughout California, on top of over 500,000 home EV chargers. Newsom flagged this stat in a tweet when he also highlighted that Tesla Superchargers are now open to non-Tesla EVs:

There are over 10,000 public DC fast chargers in California.

The number of gas stations vs. EV charging stations is not a like-for-like comparison because fueling up with gas is faster than DC fast charging… so far. But EVs can charge at home, meaning that DC fast chargers are used less.

In February, California approved a $1.9 billion plan to deploy 40,000 more public EV chargers statewide – and that’s in addition to the $1.8 billion it’s already invested in EV charging infrastructure.

More than 1.84 million EVs have been sold in California to date, and 34% of new ZEVs sold in the US are sold in California, according to the Veloz EV Market Report. The state ranks fourth in EV sales behind China, the US, and Germany.

Read more: The Las Vegas–LA electric high-speed rail line just broke ground

To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. – ad*

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Smartphone builder Xiaomi rolls 10,000 units of its flagship SU7 off assembly line in just 32 days

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April 29, 2024

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Smartphone builder Xiaomi rolls 10,000 units of its flagship SU7 off assembly line in just 32 days

Xiaomi SU7

Just over a month after launching its first-ever BEV, smartphone developer, Xiaomi is touting some big production numbers for the SU7. Better yet, such output supports encouraging orders to date as the Chinese tech company is off to a hot start in its newly entered vehicle manufacturing segment.

As a Chinese electronics company specializing in smartphones, we never covered Xiaomi here at Electrek. Not until the company announced plans for a new EV arm called Xiaomi Automotive in March 2021.

Since then, we’ve followed the tech company closely to see if it could do something its rival Apple has yet to do… deliver its own branded BEV. We got our first glimpse of Xiaomi’s first model – the SU7 in November 2023, and a month later, it officially launched the BEV as a challenger to Porsche and, of course, Tesla.

At the time, we shared that Xiaomi believed it could entice would-be buyers from its existing customer base of 20 million smartphone users in China by offering a holistic system between the SU7 and other Xiaomi devices as a selling point.

It was correct.

The BEV received over 50,000 orders in the first 27 minutes of going on sale, creating a waitlist of up to seven months. This led Xiaomi to rethink its production strategy and try to crank out more SU7s than originally planned to keep up with demand. Although it is new to EVs, Xiaomi appears to be wielding its manufacturing expertise, and its assembly lines are humming in China, just one month in.

Xiaomi SU7
Source: Xiaomi Automobile/Weibo

Xiaomi SU7 orders top 75,000 as production ramps up

Per a Weibo post from Xiaomi Automobile today, orders for the SU7 had reached 75,723 units in the first 28 days since its launch in China. To keep up with this growing order book, Xiaomi is ramping up BEV production with hopes of delivering 100,000 SU7 EVs this year.

It is well on its way as the tech company turned automaker is already celebrating its 10,000th build, just 32 days after the SU7 launch. Of those builds, 5,781 SU7s have already been delivered in China, although the company already hinted at plans for expansion into new markets:

We believe that one day, there will be Xiaomi cars riding on every road around the world!

The SU7 originally launched in three separate variants: Standard, Pro, and Max – priced at RMB 215,900 ($29,850), RMB 245,900 ($34,000), and RMB 299,900 ($41,450), respectively. Last week, Xiaomi founder, chairman, and CEO Lei Jun said the company is targeting 10,000 SU7 deliveries in June, which is more evidence of its continued ramp-up.

This is an automaker to keep an eye on; it’s an impressive start so far.

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