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Transport Infrastructure

Passenger Transportation Services

Passenger Transportation Services

IATA supports European airlines' call to relax green fuel mandate

IATA's head, who represents the world's airlines, has welcomed the call from Europe's leading carriers to delay a target of 2030 for sustainable aviation fuel usage in Europe. He said that Brussels policymakers must face reality. We can't pretend these targets are important and achievable. Willie Walsh said, "They were never going be able to be achieved." According to EU rules, suppliers are required to ensure that 2% (of the fuel) available at EU airports in 2025 is SAF, increasing to 6% by 2030, and then gradually to 70% by 2050. The airlines claim that SAF is scarce and they...

Passenger Transportation Services

BCG report: Green jet fuel production may not meet 2030 targets

Boston Consulting Group's (BCG) report on Thursday found that the sustainable aviation fuel industry (SAF) is not meeting its 2030 targets because production hasn't ramped up fast enough. This year, European airlines will be required to use 2% SAF in their jet fuel. By 2030, this mandate is expected to increase to 6%. Many have complained about the cost of the fuel which is usually three to five time more expensive than conventional jet fuel. The report revealed that airports and airlines are only investing 1%-3% of their budget or revenue into SAF. High production costs and fuel price remain...

Passenger Ground & Sea Transportation

Ukraine Railways says cyberattack on Sunday affected its online freight service

Ukrzaliznytsia (Ukraine's state railways), the largest cargo carrier in the country, announced on Tuesday that its online freight service had been hit by a massive cyber attack. The first outage reported was on Sunday, when the rail company informed passengers of a problem with its IT system. They were told to purchase tickets at the station or on the train. Later, the company said that its online systems were subjected a targeted large-scale cyber attack. Since the Russian invasion of Ukraine in 2022, trains have become the primary mode of transport for both domestic and international travelers. They are also...

Passenger Transportation Services

Airbus has set out its stall for new plane development

Airbus gave an early glimpse at the technologies that will be used in its next aircraft, which is expected to replace its most popular A320neo. The new plane should enter service within 10 to 15 years. Guillaume Faury, who will begin his third three-year tenure as CEO in a few weeks, faces a key decision: when to replace industry's best-selling model that competes with Boeing 737 MAX's 737 MAX on the busiest market segment. Airbus claimed that the new aircraft would be 20-30% efficient than the A320neo. NASA in the U.S. has announced that it is developing a rival configuration...

Passenger Transportation Services

Financial Times – March 24,

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. Headlines Wood Group to continue takeover talks with UAE-based Sidara Heathrow's National Grid chief claims that the airport had "enough power" despite the fire shutdown Malaysia cracks down on Nvidia chips under US pressure James Hardie will buy Azek, a building products company for almost $9bn View the full article After a failed takeover attempt six months earlier, the British oilfield engineering and services firm Wood Group agreed to extend its deadline for talks....

Passenger Transportation Services

Heathrow Airport in the UK closes Heathrow Airport for a day following a fire at a substation

Heathrow Airport in Britain announced on Friday that it would be closed until after midnight due to an extensive power outage caused by a fire near the electrical substation which supplies the airport. Heathrow Airport posted a message on X saying that the airport would be closed on the 21st March until 23h59. Passengers are advised to avoid the airport. A Heathrow spokesperson said in an email that fire crews were responding to the incident, but it was unclear when power would be restored. They also predicted significant disruptions over the next few days. Eurocontrol, the company that manages air...

Passenger Transportation Services

Elliott nominates 7 directors for Phillips 66 to increase pressure

Elliott Investment Management has nominated seven board members to Phillips 66, laying the foundation for pushing for changes, including spinning off or selling the midstream business. Two people familiar with this matter confirmed that. Last month, the activist investment firm disclosed a $2.5-billion stake in the oil refining company. It is returning to the campaign for a second time, just over a 12-month period after making a $1-billion investment in 2023, and pressing for improvements in strategy with limited success. In a letter published last month, Elliott demanded that Phillips 66 - which has a $52 billion market value -...

Passenger Transportation Services

US automakers, homebuilders and materials are hit by Trump's trade war

The latest trade war escalation by Washington has put pressure on the shares of U.S.-based companies. Earnings in many sectors are expected to be affected, including those in automakers, retailers, and raw materials. Donald Trump has imposed 25% tariffs for imports from Mexico, Canada and the United Kingdom. The tariffs cover more than $900 billion in annual U.S. exports to Mexico and Canada. Trump doubled the duties on Chinese imports from 10% to 20% in order to punish Beijing for the U.S. overdose crisis. The duty is on top of the 25% tariffs that were imposed in his first term....

Passenger Transportation Services

Sources say that three tankers were damaged in the Mediterranean last month by explosions of unknown causes.

Shipping and security sources confirmed on Wednesday that three oil tankers were damaged in separate incidents in the Mediterranean in the past month, but the cause of the explosions was unknown. These are the first incidents in which non-military ships have been damaged by blasts around the central Mediterranean for decades. One of the shipping sources reported that an explosion caused a 1-metre-deep crack below the waterline in the hull on the Greek-operated crude-oil tanker Seajewel in a port located in northern Italy, on Saturday. The same vessel was hit by a second explosion 20 minutes later without further damage....

Passenger Transportation Services

British stocks drop as inflation increases; Glencore's earnings are hit

The benchmark index for Britain fell on Wednesday, after inflation in the country rose higher than expected. Glencore shares also dropped after the company reported lower earnings for 2024. At 1034 GMT the blue-chip FTSE 100 fell by 0.3%, while midcap FTSE 250 dropped 0.4% and hit a two-week-low. In January, Britain's inflation rate accelerated to its highest level in 10 months at 3.0%. This exceeded expectations and tested the Bank of England’s confidence that the price pressures would ease on a longer-term basis. The BoE cut its benchmark rate from 4.75% to 4.5% earlier this month and stated that...

Passenger Transportation Services

What the upcoming elections mean for German corporate Germany

Germany will vote on Sunday despite the continued weakness of Europe's largest economy. Companies are warning that the environment is rapidly deteriorating, which puts the future of the industrial sector at risk. Here are the main issues facing companies and how the parties plan to address them. Also, which stocks may benefit. What are the biggest challenges facing companies? Costs and bureaucracy. The amount of bureaucracy, both at the national and EU levels, has been heavily criticised by companies, who have called for a far-reaching reduction, especially in the energy sector. In a recent survey conducted by the German Chamber...

Integrated Logistics

Germany to face year of industrial conflict as companies battle workers

In 2025, Germany will face major labour disputes as the bond between employers and employees, which was long regarded as the cornerstone of the country's success, is beginning to crumble in the face of fierce competition, economic weakness, and spiralling costs. The union bosses of industrial giants Bosch Thyssenkrupp Friedrichshafen, Volkswagen and Thyssenkrupp ZF Friedrichshafen - who collectively represent more than 500,000 German workers – say that companies are showing an increased level of commitment to cutting jobs, closing factories, and moving staff overseas. According to interviews conducted with more than a dozen labour representatives, politicians and executives in Germany,...

Ground Transportation

Ground Transportation

Increased Russian metal stock in LME warehouses due to Indian aluminium outflow

LME data released on Monday showed that the proportion of aluminium with Russian origin registered in warehouses at the London Metal Exchange increased to 75% from 67%, and the share of Indian origin decreased to 24%. According to traders, the majority of the aluminium in LME registered warehouses at Port Klang in Malaysia is of Indian origin. This is what Western consumers are looking for, as many have refused to purchase metal made in Russia ever since Russia invaded Ukraine three years ago. Stocks of aluminium with Russian origin, or those on warrant At the end February, the total metric...

Ground Transportation

Marrakech Express Upgrade - French loan will help Morocco purchase 18 fast trains before World Cup

The French Embassy in Rabat announced on Friday that France would lend Morocco 781 millions euros to finance the acquisition of 18 Alstom high-speed trains. The trains are part a plan that aims to extend the high speed rail network between Kenitra, on the west coast of Morocco, and Marrakech in time for the 2030 World Cup which Morocco will host with Spain and Portugal. Alstom has announced that it will provide the ONCF, the state-owned Moroccan rail operator, with Avelia double-decker Avelia trains capable of carrying 640 passengers at a maximum speed of 320km/h. ONCF also plans to expand...

Ground Freight

CFO Vopak says AVTL will be able to announce its IPO by the first half of 2025.

The finance chief of Dutch tank storage company Vopak said that the final decision regarding the initial public offering (IPO) of its Indian joint-venture Aegis Vopak is expected to be made in the first half 2025. Michiel Gilsing, CFO of Vopak, said that the company sold a small amount as a private placing in 2024. This was to prepare for the IPO. The deal resulted in a net gain of 13.6 million dollars ($13 million). He said that the final valuation of AVTL would determine whether or not further gains could be made. Gilsing stated that Vopak operates terminals in...

Oil Pipeline

Transportation

Transportation

Owner of cargo vessel that hit US tanker creates UK fund for litigation

The owner of the cargo ship which struck a U.S.-contracted military tanker near England's northeastern coast last month has announced that it will set up a fund to cover potential lawsuits arising from the collision. MS Solong Schiffahrtsgesellschaft M & Co KG, a subsidiary of Ernst Russ which owns the Portuguese-flagged container ship Solong, was sued at London's High Court on Monday by the operators of the Stena Immaculate, which the Solong hit on March 10, according to court records. Last week, the Ernst Russ subsidiary filed a separate action at the Admiralty Court specialist court seeking "limitation in liability"....

Transportation

The UK has filed a lawsuit against the operator of a US jet fuel tanker for collision

The manager of an American military-contracted oil tanker, which was hit by a cargo vessel off England's Northeast coast last month, filed a suit at London's High Court over the collision on Monday. Stena Bulk Marine Services (USA) LLC and Crowley-Stena Marine Solutions LLC filed a lawsuit against MS Solong Schiffahrtsgesellschaft M & Co KG, a subsidiary of Portuguese-flagged container ship Solong owner Ernst Russ , according to court records. On March 10, the Solong crashed into Stena Immaculate. This tanker was anchored and operated by Crowley. It was carrying jet fuel. The collision was reported to the Admiralty Court,...

Transportation

Data shows that Russian gas exports to Europe fell 19% month-over-month in March.

Calculations showed that the average daily supply of natural gas to Europe through the TurkStream pipeline, owned by Russian energy giant Gazprom, fell 19.4% from a year earlier in March. The only remaining transit route for Russian gas into Europe is through Turkey after Ukraine decided not to renew a transit agreement with Moscow that expired in January. Based on data provided by the European Gas Transmission Group Entsog, calculations showed that Russian gas exported via the TurkStream pipe fell to 45 million cubic meters (mcms) per day from 55.8 millions cubic metres per days in February. This was also...

Transportation

Dutch Gasunie plans to invest 13 billion dollars in the power grid by 2030

Gasunie, the Dutch natural gas grid operator, said on Monday that it will invest approximately 12 billion euros (13 billion dollars) by 2030 to accelerate the energy transformation and prevent major industries from leaving the Netherlands. Gasunie announced that two-thirds of their investment will be in infrastructure for sustainable gasses, such as hydrogen and biomethane. They also said they would continue to work on projects for carbon capture and storage. It said that the share of green projects in total investments increased last year from 20% to 45%. Gasunie stated that the company was taking "major steps" towards a future...

Transportation

Oil prices drop despite Trump's warnings about possible tariffs against Russian buyers

Oil prices fell on Monday and are heading towards a modest quarter-loss, despite warnings from U.S. president Donald Trump, who warned that he could impose secondary tariffs against buyers of Russian crude oil if he felt Moscow was blocking his efforts in ending the war in Ukraine. Brent crude futures for June, the more active contract, fell 30 cents or 0.4% to $72.46 a barrel by 0330 GMT. Meanwhile, U.S. West Texas Intermediate oil declined 33 cents or 0.5% to $69.03 a barrel. Brent front-month, down 26 cents or 0.4% at $73.36, expires on Monday. Both benchmarks are on track...

Transportation

Oil prices drop despite Trump's warnings about possible tariffs against Russian buyers

Oil prices fell on Monday and are heading towards a small quarterly loss, despite warnings from U.S. president Donald Trump about secondary tariffs if he believes that Moscow is preventing him from ending the war in Ukraine. Brent crude futures for June, the more active contract, fell 17 cents or 0.2% to $72.59 a barge by 0028 GMT. Meanwhile, U.S. West Texas Intermediate oil declined 18 cents or 0.3% to $69.18 a barge. Brent front-month, up 8 cents or 0.1% at $73.71, expires on Monday. Both benchmarks recorded a weekly gain for the third time in a row on Friday....

Transportation

Two sources claim that talks on restarting Iraqi Kurdish crude oil exports have hit a snag.

Two sources who have direct knowledge of this matter, but spoke on the condition of anonymity, said that the talks to restart Kurdish crude oil exports via the Iraq-Turkey pipe are at a standstill due to a lack in clarity regarding payments and contracts. Negotiations, which began in late February, failed to resolve a standoff of nearly two years that had halted the flow of goods from Iraqi Kurdistan, in the northern part of the country, to Turkey's Mediterranean Port of Ceyhan. Last month, it was reported that the Trump administration has asked Iraq for a restart of the shipments...

Transportation

Transneft, Russia's oil company, says its net profit for 2024 will be down 5% due to tax increases

Transneft, the Russian oil pipeline monopoly, said Friday that its net profit fell by around 5% to 287.7 roubles (about $3 billion) last year due to rising costs and taxes. In an effort to reduce its budget deficit, the Russian government increased taxes on corporate profit. Transneft has increased its tax rate from 20% to 40% for the years 2025-2030. Transneft operates Russia's 42,000 mile (67,000 km) long oil pipeline network. It has stated that it could run out of cash in 2026, and it may have to suspend large investment projects because of the tax increase. The company reported...

Transportation

Ukraine State Railway says that online services have been partially restored following cyberattack

The company reported on Thursday that the largest Ukrainian railway, Ukrzaliznytsia (state-owned), has partially restored its online services following a massive cyber attack which affected passenger and freight transportation systems. The first outage reported was on Sunday, when the rail company informed passengers of a problem with its IT system. They were told to purchase tickets at the station or on trains. Later, the company said that its online systems were subjected a targeted large-scale cyberattack. Ukrzaliznytsia announced on Telegram that the online sales system has been restored as a backup for the purchase of train tickets or their refund....

Transportation

Uganda's EACOP Pipeline worth $5 billion gets a funding boost

EACOP Ltd, the company responsible for building Uganda's EACOP oil pipeline, announced on Wednesday that it had closed its first external financing round from a consortium of institutions which included commercial banks and Afreximbank. Standard Bank, Stanbic Bank Uganda, KCB Bank Uganda, and the Islamic Corporation for the Development of the Private Sector in Saudi Arabia are among the financiers. The statement stated that "the successful closure of this first tranche is a significant landmark." The statement did not give a value to the financial backing. Uganda's Energy Minister said in October that the partners of the $5 billion East...

Transportation

Venture Global seeks authorization for Calcasieu Pass, TransCameron Projects

Venture Global Inc, a U.S. developer of LNG, has requested permission from federal regulators to start operations at its Calcasieu Pass export facility and TransCameron pipe project. This is the final step to moving into commercial operations. The U.S.'s second largest LNG exporter has told the Federal Energy Regulatory Commission that it believes it can produce at the design capacity of the plant after making significant progress with remedial work. Calcasieu Pass is confident that it has completed all the required paperwork Documentation demonstrating readiness to begin service of the remaining facility," the FERC filing stated. According to the filing,...

Transportation

What is the US and Europe doing in response to the Houthi attacks on the Red Sea?

In a group message that accidentally revealed plans by the U.S. for an attack on Yemen's Iran aligned Houthis, senior Trump officials including Vice President JDVance and Defense Sec Pete Hegseth accused Europe "freeloading" The attacks by the Houthis on ships in Red Sea have impacted trade between Europe and the U.S. What is the situation in the Red Sea? In response to threats by the Houthis to resume attacks on ships crossing the Red Sea, the U.S. launched massive military strikes against them on 16 March that resulted in the death of at least 31 people. The Houthis, a...