Latest news with #JohnDriscoll
CNA
13-05-2025
- Business
- CNA
Indonesia's plan to cut fuel imports from Singapore could disrupt trade flows, but fallout likely minimal: Analysts
SINGAPORE: Indonesia's plan to cut fuel imports from Singapore could pressure trade flows amid tariff talks with the United States, but observers said they believe the broader impact on Singapore's economy will be limited. Analysts told CNA that diversification of the economy into areas such as technology and manufacturing will continue to prop up growth. However, they cautioned that there may be indirect impact on the transport and storage services and wholesale trade sectors. This comes as Indonesia is looking to change the source of some of its fuel imports from Singapore to the US. It is currently negotiating the 32 per cent tariffs that the US wants to impose on Indonesian goods. These tariffs have been paused until July. ADDRESSING TRUMP TARIFFS Singapore is a major global refining hub and supplier of fuel. In the first four months of 2025, it exported more than 54,000 barrels of gasoil and 8,300 barrels of jet fuel daily to Indonesia. Indonesian Energy and Mineral Resources Minister Bahlil Lahadalia said last Friday (May 9) that it could shift as much as 60 per cent of its total fuel imports from Singapore to the US in the early stages. Jakarta is looking to ramp up fuel imports from the US, as part of a wider proposal to address US President Donald Trump's punitive tariffs. Despite this, experts believe the impact on Singapore's economy would be minimal. "Even if Indonesia were to scale back their imports, Singapore is resourceful,' said John Driscoll, director of energy market intelligence provider JTD Energy Services. 'They've got an infrastructure, refineries, storage terminals, support services, and besides that, they are the major pricing point east of Suez,' he added, referring to areas located east of the Suez Canal. 'You've got all of the major technology companies setting up the offices out here - Facebook, Google, Amazon. Singapore is not as dependent on oil, and I think that's been a deliberate strategy on their part. They want to diversify away from a reliance on oil.' EXCESS OIL SUPPLY The oil industry makes up around 5 per cent of Singapore's overall gross domestic product (GDP). This is smaller compared to other sectors such as manufacturing, which contributes about 20 per cent of the economy. However, analysts warned that if other countries follow in Indonesia's footsteps, the impact could be multiplied. "There could be second-round effects on the transport and storage services sectors, the wholesale and retail trade sectors could also be affected, because the activity drops. That could also limit the port activities,' said Mr Jeff Ng, head of Asia macro strategy at SMBC. 'When you have less demand, the manufacturing sector and the services sector may also be impacted.' Other potential short-term challenges include excess oil supply that could push prices down, said experts. Even then, they said the market is likely to stabilise over time. 'Singapore most likely will be stuck with a little more oil because there is no buyer of it,' said economics professor Sumit Agarwal of the NUS Business School. 'That should provide downward pressure on Singapore oil that they are selling to, say Malaysia and other countries. So profitability will go down for the refining business for Singapore. 'But in the medium term, Singapore will find other buyers who could be suitable buyers for Singapore's refined oil, and things will be fine.' Potential players in Singapore's market could include countries from the Middle East, said observers. There may also be interest from investors like hedge funds and banks.
Associated Press
20-03-2025
- Health
- Associated Press
Caron Treatment Centers Expands Addiction Treatment Services in Florida With New Programs for Individuals 18 and Older
Caron Treatment Centers, a leading, internationally recognized nonprofit dedicated to transforming lives through addiction and behavioral healthcare treatment, research, prevention and addiction medicine education, announces that beginning in April, it will offer expanded access to addiction treatment in South Florida with the launch of new in-network Residential, Partial Hospitalization/High Intensity Outpatient, Intensive Outpatient and Outpatient Programs for adults 18 or older. With the opening of these new programs and the medical detoxification services available at Caron's Keele Medical Center, Caron will offer a full continuum of addiction treatment services that are in-network with Lucet – Behavioral Health Management, Commercial Blue Cross Blue Shield PPO and United Healthcare/Optum (United Behavioral Health). This press release features multimedia. View the full release here: Caron will offer expanded access to addiction treatment in South Florida with the launch of new in-network Residential, Partial Hospitalization/High Intensity Outpatient, Intensive Outpatient and Outpatient Programs for adults 18 or older. 'Caron is strongly committed to Florida and the South Florida community,' said Javier Ley, MA, MS, LPC, LCAC, DPC, Executive Vice President of Caron's Florida Campus. 'These new programs fulfill the promise we made two years ago when we opened The Keele Center, our state-of-the-art medical facility in Delray Beach, to make Caron's life-changing addiction treatment as widely accessible to as many people as possible. Caron is fully focused on being a resource to the South Florida community, and we look forward to growing these new programs.' 'Our long-term vision is for insurance providers to eventually cover brain health assessments and treatments for substance use disorder pioneered in our Florida-based Signature Programs,' explained John Driscoll, President and CEO of Caron Treatment Centers. 'Addiction is a brain disease. Caron's Neurorestorative Approach integrates traditional treatment modalities with scientific advancements to optimize the brain's ability to heal and rewire itself into healthier patterns. Our hope is that insurance providers will come to understand that neurorestorative care can help people enter recovery faster and stay there longer, saving both money and lives.' 'Caron Treatment Centers' decision to expand access to treatment reflects its dedication to transforming lives by offering comprehensive care that addresses the complexities of addiction and mental health, fostering long-term recovery and well-being – a win for families and the community,' says Dr. Donna Marks, a leading psychotherapist and addictions counselor who has treated patients in the Palm Beach community for more than three decades. 'Caron Treatment Centers' unwavering dedication to providing evidence-based treatment and high-quality service is exemplary. Their strategic initiative to launch insurance-friendly programs and expand access to care in Florida is a true testament to their commitment. This bold step will undoubtedly help in addressing the profound impact that substance use disorders and mental health issues have on countless individuals and families,' says Dr. Naelys Luna, Ph.D., MSW, Founding Dean and Professor of the College of Social Work and Criminal Justice at Florida Atlantic University. Caron's new in-network outpatient program options will initially be provided clinical services at Caron's Keele Medical Center and move to new clinical office space later this summer. Caron Treatment Centers Caron Treatment Centers is an internationally recognized nonprofit dedicated to transforming lives through addiction and behavioral healthcare treatment, research, prevention and addiction medicine education. During its almost 70 years, Caron has helped thousands of individuals struggling with behavioral health issues, including substance use disorders, begin to manage these brain diseases and find hope. Anchored by two medical centers on its Pennsylvania and Florida campuses and headquartered in Wernersville, Pennsylvania, Caron utilizes a neurorestorative approach to provide a comprehensive continuum of care for teens through adults, including medical stabilization and detoxification, residential, partial hospitalization, intensive outpatient and outpatient programs, as well as Recovery support, family and alumni services. Caron also provides concierge signature treatment for executives and older adults. In addition to our Pennsylvania and Florida campuses, Caron provides services in Wyomissing, Philadelphia, Washington, D.C., Atlanta, and New York City. Caron is in-network with major insurance plans and provides financial assistance for those who qualify. For more information, visit or @CaronTreatment. Kristin Campbell-Salamone 215-292-5526 610-731-1045 SOURCE: Caron Treatment Centers Copyright Business Wire 2025. PUB: 03/20/2025 10:25 AM/DISC: 03/20/2025 10:24 AM
