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Australia's trucking sector looks to electric alternatives as it faces fuel shortage
As the Middle East Crisis disrupts fuel supplies and drives up prices, interest in electric trucks is increasing in Australia. Since the Iran War began, electric truck companies have reported an increase in inquiries and investments from customers. Ben Hutt is the CEO of Janus Electric. The company manufactures vehicle battery packs. Its shares have increased by as much as 58% in value since the U.S. and Israeli war against Iran began late February. He said: "We have seen an enormous increase in interest from government around the globe, customers all over the world and customers in Australia." The 'geography of Australia and its low population density make it one the most dependent countries on road freight in the world. It relies on diesel trucks to transport raw materials, goods and food across huge distances. Hermione parsons, CEO of Australia Logistics Council, apex organisation of Australia's freight industry, stated that despite recent interest in electric vehicles, the country still has a "diesel-dominated system". Around?800,000.00 diesel trucks are on the roads compared to just 1,000 electric ones. High upfront costs, limited infrastructure for charging and concerns about the technology's range and load capacity have long stymied the?electrification? of the sector. Diesel prices above A$3 per litre ($2.14) are affecting operators' bottom line, according to industry sources. Hutt said, "The technology is working, there is range, there is power and torque, and they are much more economical to operate." He said that more drivers are also accepting electric trucks. Janus Electric converts existing heavy trucks into interchangeable battery packs. The conversion costs around A$150,000 ($107.550). Hutt stated that converted vehicles towing a single trailer could travel up to 400 km (250 mi) before they need to change batteries at dedicated stations. The process takes less than four minutes. Daniel Bleakley said that his electric trucking firm, New Energy Transport had received "a wave" of inquiries in recent months. He said that "we've seen an increase in interest from both major transport buyers and investors" in Australia. Last month, New Energy Transport announced that it had completed Australia's very first end-to-end electric heavy road freight transport, traveling 460 km between Sydney and Canberra. The vehicles were able to travel up to 670 km (415 miles) with 49 tons of freight on a single battery charge in overseas trials. John Rose, professor at University of Sydney's Institute of Transport and Logistics Studies said that electric trucks are increasingly being used for city routes and last-mile logistical needs. It would be "many years" before electric trucks were used for long-haul transportation. "We are seeing?electrification? in some parts of the industry and not in others. This is a very widespread benefit if we make it happen. This war will definitely push it forward. Parsons, ALC, said that the electric truck market is still in its infancy. $1 = 1.3947 Australian Dollars (Reporting and writing by Cordelia Hsu, Sydney)
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Nigerian Airlines threaten to stop flights due to rising jet fuel prices
Nigerian airlines will cease all flights on April 20 unless the crippling jet fuel price, which they accuse the country's "fuel marketers" of artificially increasing, is reduced. Airline Operators of Nigeria (an industry group consisting of around 12 mainly domestic carriers) complained to the Major Energies Marketers Association of Nigeria in a letter dated April 14 that jet fuel had increased by approximately 270% since February. The price of oil and fuel has risen since the start of the Iran War, because the conflict is preventing shipping through the Strait of Hormuz. In a letter to AON, the company called the increase in jet fuel prices in Africa's largest nation "astronomical" and "artificial," and said that it was far higher than global crude oil price. It said that "currently, airline revenues alone are not sufficient to cover the cost for fuel." MEMAN did not respond immediately to a comment request. The global aviation industry has been thrown into chaos by the soaring prices of jet fuel. Airlines have had to increase fares, reduce growth plans, and rethink their forecasts. AON stated that increasing ticket prices in Nigeria to reflect fuel costs could result in a drop in passenger numbers. A shutdown of airline operations would also have wider repercussions on banks, jobs, and insecurity. According to the African Airlines Association, jet fuel accounts for 30 to 40% of African airlines’?operating expenses, compared to a global average between 20 and 25%. This makes them especially vulnerable to price increases. The Nigerian aviation sector used about 2.1 million litres per day of jet fuel last month, according to data provided by the country's petroleum product regulator. The data shows that the Dangote Petroleum Refinery, Nigeria's only domestic jet fuel producer, did not make any deliveries to the domestic market in March. Data from the tanker-tracking firm Kpler revealed that Nigerian exports of clean products such as gasoline, diesel, jet fuel and kerosene more than doubled month-on-month during March. Dangote didn't immediately respond to our request for comment. (Reporting and editing by Joe Bavier; Isaac Anyaogu)
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El Al, Israel's national airline, to expand Boeing deal by buying six additional 787s
El 'Al Israel Airlines announced on Thursday that it would exercise its option to 'buy six additional 787-9 Dreamliner planes from Boeing. The airline cited a long-term strategy for increasing capacity and improving profitability. Israel's flag airline?also announced that it would expand?its agreement with Boeing, including an?option to buy up to six additional 787 aircraft. El Al currently has 17 787 aircraft in its fleet. The company expects to have 28 aircraft by the end of the decade, and up to 34 in the future. El Al signed an $1.25 billion contract with Boeing in 2016 for a 'first order' of 15 787 aircraft, with a?option for another 13.
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Investors look at possible Iran War Deal as they mix up the Gulf bourses
Investors weighed the growing optimism about a possible agreement to end the 'Iran war', backed by increasing U.S. sanctions on Tehran ahead of future talks. U.S. president Donald 'Trump' said that the war he launched with Israel in late February is nearly over. This was despite the fact that the shipping blockade announced by him had come into effect, and the traffic through the Strait of Hormuz was still far below normal. Washington warned that it may impose secondary sanctions against buyers of Iranian crude oil in advance of future negotiations, only weeks after easing some Iran energy sanctions. After negotiations on Sunday failed to produce a breakthrough, U.S. officials and Iranian officials are considering returning to Pakistan this weekend for more talks. Pakistan's Army Chief arrived in Tehran on Wednesday to help prevent a resurgence of the conflict. Dubai's main stock index rose 1.4%. This was largely due to a 2.1% gain in Emaar Properties, the blue-chip developer. Budget airline Air 'Arabia reversed its early losses and traded 1.2% higher. The index in Abu Dhabi increased by 0.3%. Saudi Arabia's benchmark stock index dropped 0.2%. Saudi National Bank, the country's largest lender in terms of assets, lost 2.1% and oil giant Saudi Aramco fell by 0.3%. Brent crude futures were barely changed at $94.67 a barrel on scepticism about the U.S. - Iran peace talks?ending the disruption of the traffic through the Strait of Hormuz. Separately the $925 billion sovereign fund of the Kingdom will channel its investment into the 'domestic' economy by focusing on six priorities in a five-year plan. It is stepping up efforts to reduce the dependence of the kingdom on oil. The Qatari Index eased by 0.1% during a turbulent session. Industries Qatar, a petrochemical manufacturer, fell 0.7%. Qatar, the world's second largest LNG exporter, may extend the force majeure period on gas supply beyond mid-June. Edison stated that the Italian importer expects the lost volumes to be replaced by U.S. LNG instead of Russian?gas. QatarEnergy canceled 10 cargoes from Edison between mid-April and mid-June due to the disruption of supplies. The CEO of QatarEnergy said that Iran's attack on last month knocked down 17% the LNG export capacity of QatarEnergy. (Reporting and editing by Joe Bavier in Bengaluru, Ateeq Sharif in Bengaluru)
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EasyJet announces a larger first-half loss due to fuel prices and legal costs.
EasyJet, a British budget airline, warned on Thursday that it had suffered a larger 'headline pretax loss for the first six months of the year than a year ago. This was due to the soaring fuel prices caused by the Middle East conflict and increased 'legal provisions. The airline is expecting a headline loss before tax of 540-570 million pounds ($733.3-$760.5) in the first half. This is higher than?the loss of 394 million pounds reported a year ago. The U.S. and Israeli war on Iran sent jet fuel prices soaring by as much as 200 dollars a barrel over the past few weeks. This has upended the global aviation industry, forcing airlines to 'raise fares', halt growth plans, and rethink their forecasts. Easyjet said it had incurred additional fuel costs of 25 million pounds due to the war in March, as well as 30 million pounds from higher legal provisions.
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Wall Street Journal April 16,
These are the most popular?stories from the Wall Street Journal. ? The?author of these stories has not?verified them and does not vouch for their?accuracy. Viva Energy in Geelong has suffered a major fire that engulfed a large part of its oil refinery. This is raising concerns about the availability of oil in Australia, at a time when the Middle East conflict is causing a shortage. Spirit Airlines has begun discussions with its creditors who are looking at options, including the possibility of liquidating the airline. A New York jury ruled on Wednesday that Ticketmaster, its parent company Live Nation, and the airline itself illegally monopolized U.S. markets for live events. The Wall Street Journal reported that 'Senior U.S. Defense Officials have held discussions about producing weapons and military'supplies' with executives from companies such as?General Motors?and Ford Motor. Esco Technologies has agreed to buy?TBG Megger Group in a deal worth $2.35 billion. Doug 'Field, an Apple and Tesla veteran who has led Ford Motors' electric vehicle and technology efforts for almost five years, will be leaving the automaker.
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Uganda names Citibank as the fund-raising agent for a 2.7 billion euro rail project
Uganda announced on Thursday that it had appointed Citibank as the 'financing partner for its 2.7 billion euro ($3.19 billion), Standard Gauge Railway (SGR) Project. Uganda's Finance Ministry posted on the X Platform that it is "in discussions with the World Bank for support of the project." The Washington-based global financier confirmed earlier this month that it was considering "a range of potential financing options" to finance the project. The post stated that a?Ugandan delegation in Washington attending the IMF and World Bank spring meetings met officials from Citibank headed by Richard Hodder. Uganda handed over the SGR project in 2024 to Turkish construction 'firm Yapi Merkezi after a long delay due to unsuccessful attempts?to secure funding from Beijing. The government has provided some funding for the initial preparatory work, but construction at full scale is still pending. The 272-kilometre-long (169-mile) rail line will connect landlocked Uganda to the rail network of its neighbour, Kenya. It will also link Mombasa on the Indian Ocean to the railway network in Kenya.
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Maguire: ROI-Pain in the pump will give US EV Sales a new boost this summer
The U.S. is expected to see a surge in demand for 'electric vehicles this year due to the highest gasoline prices since 2022, despite President Donald Trump scrapping federal subsidies for the 'clean car sector. According to data from LSEG, U.S. gas prices will average $2.96 per gallon between May and August of this year. This is due to the U.S.-Israeli war on Iran which has slashed the oil shipments out of the Middle Orient. This?price represents a nearly 40 percent increase from the same months last year. The average American driver will pay more than 80 cents (21 cents) per gallon during peak driving season in the U.S. Fuel costs are a daily reminder for many Americans. Sales of used EVs have seen a strong increase in 2026, and sales of new EVs reached multi-month records in March. The continued sticker shock of gas pumps during the summer, when Americans are on vacation and take long road trips, will likely increase the appeal of electric vehicles (EVs), which can be recharged at home or at charging stations that have become more dense. A FULLY EXPOSED Fuel prices in the United States have risen this year, despite the fact that the U.S. is the world's biggest crude oil producer. This has added to the frustration of U.S. customers. The Energy Institute reports that U.S. crude and condensate oil production has increased by 140% in the last five years, largely due to advances made in oil production using shale deposits. Over the last decade, the revolutionary changes in oil extraction techniques have helped the United States go from being a net oil importer to an?net oil exporter. This has sparked a boom among U.S. energy companies. The U.S. Energy Information Administration shows that the average retail gasoline price is currently?around 50 percent higher than it was in 2010. ANECDOTAL APPEAL U.S. drivers are increasingly turning to electric vehicles to reduce fuel costs. The desire to reduce pollution has also triggered a demand for EVs. Sales of EVs have increased by roughly 13 times over the last decade, and they will account for about 10% of all new car sales between 2024 and 2025. Since late 2025, the U.S. EV market has been slowing down. New EV sales have dropped sharply in the first quarter of 2026 compared to the previous year. The recent spike in gas prices since the bombings of Iran led to a drop in fuel and oil shipments out of the Middle East, has reignited interest in electric vehicles. The number of searches on the internet for EVs or hybrid cars, and their sales, is a crude way to measure this increased interest. Google, the U.S.'s most popular search engine, has reported that searches for "EV sales", EV deals", "Hybrid Sales" and "Hybrid Deals" have reached record highs over the past few weeks as gasoline prices rose due to the Iran conflict. Search results do not always reflect actual sales deals. Only time will tell if search interest actually leads to purchases. Combined with increased dealer incentives, and more aggressive?marketing?of EVs from manufacturers, it's clear that consumer awareness has rebounded strong so far in 2026. Fuel costs are also steadily rising. Fuel costs are expected to remain high during the U.S.'s busiest driving period, according to forward markets. This could make EVs and Hybrids more attractive in the months ahead. These are the opinions of a columnist who writes for. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn, X and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
The FLC of South Korea has announced a tender to purchase up to 65,000 T of wheat
European traders reported on Tuesday that the Feed Leaders' Committee of South Korea (FLC) had issued an international tender for 50,000-65,001 metric tons animal feed wheat.
The deadline for submitting price offers is February 12 and the arrival of one shipment in South Korea should be around June 30.
The wheat may be imported from anywhere in the world, except for Russia, Argentina China Pakistan and Denmark. The Black Sea ports of Russia and Ukraine are not allowed to be used by wheat from any origin.
Shipping is required between May 20 and June 10 if the source of the product is from Australia, U.S. Pacific Northwest Coast, or Canadian West Coast. If you are sourcing from the U.S. Gulf Coast, Europe, or Canadian East coast, shipment will be between May 4 and 25.
Shipments of European wheat via Cape of Good Hope (often undertaken to avoid attacks against shipping in the Red Sea) should be made between April 15 and May 6.
Between April 25 and May 16, wheat from South America or South Africa should be shipped. Michael Hogan (reporting; Varun H K, editing)
(source: Reuters)