Europe

Italian daily Corriere della Sera said that U.S. investment company Castlelake was looking to MSC, the world's largest shipowner, as a possible partner in a consortium interested in a potential takeover bid for British budget airline easyJet. Castlelake announced last week that it is in the initial stages of evaluating a possible easyJet offer, which would be above 403.23 pence a share. However, no approach has been made to easyJet's board. According to UK takeover regulations, the company has until June 26th to submit a firm offer or walk away. Corriere reported that two sources familiar with the discussions said...

Here are some company news stories and updates from France and Benelux that could impact the markets in these regions or specific stocks. CMA CGM The French shipping company 'CMA CGM' has taken delivery of its largest container -ship, the 'CMA CGM Notre Dame. This is the first in a series of 10 vessels that will be delivered to and deployed along maritime routes from 2026-2028. Eramet: Simon Henochsberg, a former Abel Martins Alexandre, has been appointed Chief Financial Officer of Eramet, effective May 26, 2026. Eurazeo: Eurazeo, a French investment company, invested in Babylon, an?French operator? of aparthotels. The...

Two people with knowledge of the situation said that Brookfield Asset Management is set to purchase World Freight 'Company' (WFC) from investment firms EQT & PAI Partners for an enterprise valuation of approximately $1.2 billion. Sources said that the firms had finalised their discussions and a deal could be announced as soon as Thursday. PAI, WFC and Brookfield did not respond immediately to requests for comment. The sale is being planned amid a period of global transportation volatility, as the Iran War has risen fuel prices and air freight costs and caused serious disruptions to air traffic and shipping routes....

About 30 women dressed in matching green dust coats grading sugar snap peas for dinner tables in Europe. The atmosphere in the?facility? is positive, but for the farmers the start of the fresh produce exporting season has been difficult due to an increase in freight costs caused by the Iran War. Kuminda, which aggregates the produce of about 5,000 small farmers, had just finished preparing its first exports of sugar snap peas, and mange tout for this year. RISE IN FREIGHT PRICES Exporters must absorb rising costs, or they risk derailing a recovery of Zimbabwe's horticulture industry. Last year the...

The Indian 'Prime Minister Narendra Modi' will embark on a 'five-nation tour' taking in the United Arab Emirates and Europe from May 15-20. Modi will visit the UAE in May and then travel to the Netherlands and Sweden, Norway, and Italy. Modi's trip comes after he urged a number of measures including a reduction in travel and a decrease in imports, due to a rise in energy prices. Indian shares dropped on Monday and the rupee suffered its biggest drop in over a month, ending at its lowest closing level ever recorded following Modi’s call for austerity. India is a...

Maersk reported that the Alliance 'Fairfax', a U.S. flagged vehicle carrier operated by Farrell Lines, left the Gulf on Monday accompanied by U.S. Military assets. U.S. Central Command, or Centcom, said Monday that American forces were actively assisting efforts to restore commercial ship traffic through the Strait?Hormuz. Before the U.S.-Israeli war with Iran, 20% of world oil was transported through this vital maritime chokepoint. Centcom announced Monday that two merchant ships flying the flag of the United States successfully passed through the Strait of Hormuz. The U.S. Navy is operating guided-missile destroyers in?the Gulf as part of a project called...

Iran's Foreign Minister said that the Strait of Hormuz was now open to all commercial vessels after a ceasefire agreement in Lebanon. Quotes from world leaders and the shipping industry on the Iranian declaration. SHIPPING INDUSTRIES: HAPAG-LLOYD Insurance coverage, clear orders?of?the iranian government/military about the exact sea corridor to be used and the sequence of ships leaving) we would prefer to pass through as soon as possible. Insurance coverage, orders from the Iranian government/military regarding the exact sea route to be used, and the order of departure by ships) would make it easier for us to cross the strait. Our...

Iran's Foreign Minister said that the Strait of Hormuz was now open to all commercial vessels following an agreement in Lebanon on a ceasefire. The shipping industry and leaders from around the world have spoken out about the Iranian declaration. SHIPPING INDUSTRIES: MAERSK "We have?taken?note of the announcement. Our priority is the safety of our crews, vessels, and cargo. We have been following the advice of our regional security partners since the beginning of the conflict. The recommendation has so far been to avoid transiting through the Strait of Hormuz. "Any decision on whether to transit the strait is based...

Iran's Foreign Minister said that the Strait of Hormuz was now open to all commercial vessels after a ceasefire agreement in Lebanon. The shipping industry and other world leaders have weighed in on the Iranian Declaration. SHIPPING INDUSTRIES: KNUT ARILD HARIDE, CEO of the Norwegian Shipowners' Association "If this is a step in the right direction, then it is a positive development. The situation is still unresolved. There are many outstanding questions, such as those related to sea mines and the Iranian conditions. Before any transit can take place, these aspects must be clarified. SPOKESPERSON OF HAPAG-LLOYD SHIPMENT COMPANY "We're...

According to data from the shipping industry, copper exports in Democratic 'Republic of Congo dropped by 14.6% during the first quarter, after reaching a record high a year ago. Meanwhile, cobalt shipments recovered sharply following a long-term freeze. Congo is the largest cobalt producer in the world, accounting for 70% of the global reserves. It's also the second-largest copper supplier, which makes it an important pillar of the global supply chains of electric vehicles and clean energy transition. According to Access World data viewed by?Monday, it exported approximately 4.83 million metric tonnes of?copper in 2025 and 245,700 of cobalt. The...

MSC, the world's largest shipowner, announced on Monday that ownership of its company will be transferred to Gianluigi Aponte's two children by 2025. The Swiss-based firm said that the transfer of Diego and Alexa Apontes, respectively group president and chief finance officer, would provide 'continuity and stability over the long term in a major shift generational' at the privately-held company. The company announced that Italy-born Gianluigi Aponte will continue in his role as executive chair. He founded MSC in 1970 and turned it into a global shipping and logistics powerhouse. MSC will also focus on its core business, maritime freight...

Data from LSEG/Kpler showed that an oil 'tanker' loaded with Iraqi crude was seen transiting the Strait of Hormuz near the Iranian coast a few days after Iran announced Iraq was exempted from any restrictions on transiting this vital -sea route. Kpler data shows that the Ocean Thunder loaded approximately 1 million barrels of Basrah heavy crude on March 2. It is expected to "discharge" its cargo in Pengerang, Malaysia by mid-April. Iran closed the Strait after U.S. airstrikes and Israeli strikes on Iran in late February escalated a conflict. Later, it said that vessels without U.S. and Israeli connections...

Market sources say that Russia will reduce its crude exports in June as it plans to increase refinery runs amid looming fuel shortages. According to preliminary information from industry and trading sources, crude loadings at the western?ports Primorsk (Ust-Luga) and Novorossiysk (Novorossiysk) could drop to 1.7 million barrels per day in June, down from 2.5 millions bpd. Sources said that the decline could be partially due to a decrease in oil production levels. Alexander Novak, the Deputy Prime Minister, said that the Russian oil production had fallen since the beginning of the year. He blamed the drop on unplanned maintenance...

The?U.S. The?U.S. According to a FAA notice, the ground stop was from 9:53 pm to 11:15 pm PDT (0435 - 0615 GMT on Monday). The ban was lifted a little before the end. The airport didn't immediately respond to our request for a comment. According to the airport's website, more than 54 million passengers will travel through SFO by 2025. The airport is home to many airlines, including United Airlines. It also offers many international flights from and to Asia. The FAA announced in March that it would be imposing new safety restrictions on SFO. These would restrict?some landings, and...

The Economy Ministry announced that the Argentine government had recommended awarding an important?dredging contract in Argentina to Belgian dredging firm Jan De Nul, and its local partner Servimagnus. Rep. Brian Mast, chairman of the U.S. House Foreign Affairs Committee, warned in May about the "malign influence" of China in the bid to win the major contract for Argentina. Jan De Nul, and its local partner Servimagnus, denied any Chinese ties. * The recommendation is for the concession to dredge the Parana River and maintain it, as this river carries 80%?of?the trade of the country. In a late-Thursday statement, the ministry...

On Thursday, President Vladimir Putin stated that Russia is ready to resume supplies of gas to 'Germany through the 'Nord Stream Pipeline which was heavily damaged by underwater explosions. Putin told reporters in St. Petersburg one of two lines of Nord Stream 2 was intact and could begin pumping gas "tomorrow." "I am not joking, just press the?button to start the gas flowing." "But for that, the German government must make a decision," he said. Putin did say that Nord Stream is under U.S. Sanctions and Germany would need to come up with an agreement in order to remove them....

Rumen Radev, Bulgaria's Prime Minister, said that the country's energy infrastructure expansion is?progressing and?running on schedule. In an effort to counter Russian influence in southern Europe, last year the United States signed a long term deal to export liquefied gas to Greece, then through Bulgaria and Romania, to Ukraine via the so-called Vertical gas Corridor. This route would also allow for gas flows to flow the other way. Radev stated that Bulgaria is meeting its commitments, in a statement made in Sofia with the Greek Prime Minister KyriakosMitsotakis. Radev stated that the Vertical Corridor was being implemented "on time". We...

A senior member from Germany's far right Alternative for 'Germany (AfD), met with one of Russian President Vladimir Putin’s top advisors, as well as the director of energy 'group Gazprom. He called for a reopening the Nord Stream Gas Pipeline. Markus Frohnmaier, the AfD's spokesperson for foreign policy, attends Putin's economic showpiece in St Petersburg despite warnings by Germany's Foreign Ministry, which stated that it "explicitly warned the AfD about these trips". Frohnmaier posted on social media that he met with Alexei Miller, CEO of Gazprom, and Kirill Dimitriev, Putin’s special envoy to invest and cooperate in the economy, on...

Three industry sources said that in May, Russia's oil exports via the Druzhba pipeline to Hungary and Slovakia were restored to normal levels at 165,000?barrels?per day. After a long outage, Slovakia and Hungary began receiving crude oil through the pipeline on April 23, following a month-long interruption. The first month following the resumption of the oil route is May. Sources said that Hungary and Slovakia only received 55,000 bpd during April when the route was operational for just a week. Although the flow of oil through the pipeline is now "unrestricted", May deliveries were lower than the levels seen before...

On Wednesday, the?body overseeing Bosnia’s peace process will meet to select a new envoy. Schmidt, appointed in 2021, resigned?unexpectedly?in May from the Office of High Representative. This office monitors implementation of U.S.-backed Dayton peace accords that ended Bosnia’s war in 1995. Schmidt, who was appointed to the Office of the high Representative in 2021 and resigned unexpectedly in May, said he quit under "enormous" U.S. pressure. It is a difficult time for Bosnia as it remains deeply divided on ethnic lines. Washington has been a strong supporter of the country, but in its May report on Western Balkans, the U.S....

Caleb Orr, Assistant Secretary of State for the United States, said that a U.S.-Azerbaijan delegation signed 'commercial agreements' worth more than $8 billion and Washington will invest in Azerbaijan's energy sector. Orr said that the United States wanted to play a bigger role in Azerbaijan’s energy infrastructure projects. Orr responded to a query by saying, "We plan concrete investments in the?energy?sector." He said ExxonMobil was still an important partner for Azerbaijan, after signing a Memorandum of Understanding on new exploration possibilities at the Baku Energy Week?last year. Washington also supports Chevron's new exploration agreement signed during this year’s event. Orr...

Four people with knowledge of the matter have said that Canada's CPPIB, and Czech EPH, are expected to formally express?interest in Uniper by next week. The sale could be worth over EUR10 billion ($11.65billion) for the German energy group. Uniper's sale is the largest reshuffle of Germany's utility industry since Berlin bailed out 'it' along with SEFE in 2022 during Europe's energy crisis for nearly EUR20 billion. UBS and JPMorgan will accept letters of interest until the 12th of June. Brookfield, Norway’s Equinor, and France’s TotalEnergies will also likely indicate interest in the parts or the entire 74.12% share of...

As part of a contract, BP, the British energy'major' said that it is 'on track to... hand over?the _running of _the Baku-Tbilisi - Ceyhan (BTC ) oil pipeline. to Azerbaijani SOCAR on July 1. The pipeline, which has been in operation since 2006, is capable of moving more than 1 million barrels per day. The pipeline is designed to transport oil from the Caspian Sea, through Iran and Russia's Caucasus, to the Mediterranean. Giovanni Cristofoli is BP's regional 'president' for Azerbaijan and Georgia, as well as Turkey. He announced the transfer via a press release, stressing it wasn't about BP...

Calculations showed that the average daily natural gas supply to Europe via the TurkStream pipeline by Russian energy giant Gazprom rose 3% from a year earlier to a total of '47.4 millions cubic metres in may, according to calculations released on Monday. The only remaining transit route for Russian gas into Europe is through Turkey after Ukraine decided not to extend the five-year agreement with Moscow that expired in January 2025. According to calculations based on data from the European Gas Transmission Group Entsog, total Russian gas supplies via TurkStream reached a record?1.47 billion cu ft last month. This is...