The Information reports OpenAI special projects head and former chief operating officer Brad Lightcap is set to depart the company.

China Maritime Safety Administration website says Shantou Maritime Safety Administration issued a navigation warning that on Aug 12 and 14, 08:00–18:00 local time, live-fire exercises will be conducted in parts of the South China Sea; vessels are prohibited from entering the affected waters.

BDI fell 37 pts (1.2%) to 3,046, a five-day low, as capesize and supramax rates retreated, offsetting a tenth consecutive daily rise in panamax rates. The capesize index (BCI) dropped 104 pts (2.04%) to 5,001; capesize average daily earnings fell $941 to $41,856. The panamax index (BPI) rose 6 pts (0.26%) to 2,312, its highest since June 2 and marking a 10th straight gain; panamax daily earnings increased $58 to $20,813. The supramax index (BSI) slid 3 pts (0.19%) to 1,600, the lowest since June 8.