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Cameroon's major port resumes operation after vessel collision: Minister
Douala, the main port in Cameroon, has resumed its operations, said its transport minister?on a Tuesday. A collision between two cargo ships?at a weekend temporarily blocked?the navigational channel. The accident occurred early Sunday morning near buoy number 20. The collision occurred on 20 in the Douala - Bonaberi port canal when the cargo vessel MV Sea Honor, registered in Tuvalu, collided into the MV Black Rhino, flying the flag of Cyprus. The collision caused a temporary blockage of the channel and disrupted the maritime traffic in one of Central Africa’s busiest port. The impact of?disruption has not been disclosed. Port Douala-Bonaberi is the main seaport for Cameroon and it serves as a vital transit corridor for both imports and exports to and from the Central African Republic and Chad. Port Authority of Douala has launched a technical inquiry to determine the exact circumstances of this accident. Initial findings suggest that a loss in steering control aboard MV Black Rhino'may have caused the accident. In a press release, Minister Jean Ernest Massena Ngalle Bibehe stated that "MV Sea Honor has been cleared from the channel to the anchorage area and MV Black Rhino deliberately ran aground along the line of red buoys in order to facilitate the clearance operation and ensure safety of navigation." According to the Transport Ministry, all 15 crew members on board MV Black Rhino received help in accordance with national maritime rescue procedures. The ministry said that the channel was cleared, and that maritime traffic has returned to normal in standard safety conditions. Reporting by Amindeh Atabong, Editing by Susan Fenton
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Sources claim Trafigura delivered 80,000 tons to LME. This brought stocks up to a 14-year high.
Two sources with knowledge of the matter said that Trafigura, a trading house, delivered over 80,000 metric tonnes of lead this week to London Metal Exchange's warehouses, bringing stocks to their highest level in 14 years. Lead stocks LME data shows that the number of tons in approved LME warehouses increased to 370,075 on Monday after the delivery of battery metal. This is the highest level since April 2012. LME inventories of lead have increased by 40% since the middle May. The LME benchmark three-month lead dropped as much as 0.9%, to $1,851 per ton, after Tuesday's stock data, which was the lowest level since April 2025. As of 1412 GMT it was trading at $1856, underperforming the other LME metals which were all moving higher. Sources said Trafigura had deposited lead at Singapore for a rental deal. Trafigura declined ?to comment. The companies that offer metal for rent do not have to keep ownership, but instead receive a portion of the rent paid by new owners as long as the metal remains in the warehouse. The daily rent for lead in Singapore is?51cents per ton. This would be more than $40,000 per day for 80,000 tonnes. (Reporting and writing by Pratima Dasai, editing by Kirsten Doovan.)
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Ukraine to buy Rafale jets, air defence systems under France deal
Ukraine will use an European loan facility for the first time to buy next-generation Franco Italian air defence systems and French Rafale jet fighters. It has also been given approval to manufacture 'key' Western missiles in-house, as per agreements signed by Kyiv on Tuesday with Paris. Both countries announced that Ukraine would purchase 16 Rafale aircraft as the first of a fleet of 100 planned for November 2025. The order will be financed by the EU's Ukraine Support Loan Programme. The French and Ukrainian presidencies announced in a statement that training for Ukrainian pilots and technicians could begin as early as 2026. After the training is complete, the first four aircraft will be delivered, they said. Ukraine plans to purchase four SAMP/T NG air and missile defense systems of the next generation, making it the first country in the world to use the Franco-Italian SAMP/T NG system for combat. Ukraine will receive two older versions of the system until the new systems arrive. The move is part of a larger air-defence project announced on Monday by Ukraine,?several European Allies and others to develop a cheaper anti-ballistic missile capability as Russia intensifies attacks on Ukrainian cities. France and Italy have also authorized licensed production of Aster 30 missiles in Ukraine, while France has approved the local production of AASM cruise missiles and SCALP guided bombs. This is part of a deeper defence-industrial collaboration with Kyiv. In recent weeks, Russia has intensified its missile and drone strikes across Ukraine. This is increasing pressure on Kyiv for it to improve air defences and obtain additional interceptors. (Reporting and editing by Alistair Bell; Michel Rose)
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Trump wants to charge fees for Hormuz, just like Iran. Is that legal?
Donald Trump announced on Monday that after the ceasefire broke down with Iran over Tehran's attempts to maintain control of the strategic waterway, the United States will charge cargoes 20% more for the use of the Strait of Hormuz. Iran closed down the 34 km wide strait, which was the main route for a 5th of the world's oil supply and other essential goods such as fertilisers. This caused a global energy crisis when the U.S. It's important to understand the differences between Trump and Iran, and what it means for the rest of the world. HAS THE U.S. Has the U.S. In response to Iran's request for fees, U.S. Secretary Marco Rubio stated in a meeting with Gulf States on June 25 that "no nation on Earth has the rights to charge for the usage of international waterways." He also said that shipping fees would never be included in any agreement. Trump had previously suggested that the U.S. could charge tolls in the event of a failure to reach a deal with Iran. There will be no tolls in the Hormuz strait during the Cease Fire period for 60 days, and after that, there will be no tolls, unless the United States of America imposes them for the services rendered by the Guardian Angel in the Middle East countries. He now seems to have returned to his previous stance, with the ceasefire in tatters. In a post on social media on Monday, he stated that "the U.S.A. would be known from now on as 'THE GUARDIAN of the HORMUZ STREET'. But as such, as a matter FAIRNESS will be reimbursed at a rate of 20% for all cargo shipped." Trump hasn't explained how such charges would be imposed, nor what legal authority could he use to require their passage. How is TRUMP's demand for a toll different from IRAN's request for fees? Iran's main negotiation priority is to maintain control of the Strait waters, which it shares with Oman. It sees this as the strongest strategic lever it has in the world, and the best assurance for its security from future attacks. Washington may have accepted this from the language of the interim agreement signed last month, which stated that Iran would "make arrangements with its best efforts to ensure the safe passage of commercial ships without charge for 60-days only". The U.S., however, interpreted this language to mean that Iran should only facilitate safe passage of vessels and not impose any restrictions backed by force. During the war in Iran, Tehran created the Persian Gulf Strait Authority with which it said any vessel transiting the waterway had to coordinate and that ships were only allowed to transit near the Iranian shoreline. It has targeted vessels that have tried to pass the Omani coast without its permission. The company has stated that it will eventually charge a fee for the passage of passengers, but hasn't specified what this would be. What was the situation before the war and is it legal to charge for using a 'STRAIT'? The Strait is made of the territorial waters between Iran and Oman with the maritime border running through the middle. UNCLOS, the international maritime law convention, says that states bordering straits can't demand payment for a simple permission to pass through. They can, however, impose a limited fee for certain services, such as tugging, piloting or port services. These fees may not be imposed more heavily on ships from a particular country. UNCLOS is not signed by either Iran or the United States, but it is widely accepted as international maritime law. Hormuz has been referred to as an international strait. In 1968, Iran & Oman reached an agreement with the International Maritime Organization (IMO) to use the sea lanes in the middle of the Strait for major vessels. According to the IMO, the mines laid by Iran during the war have made this passage dangerous. Would other countries accept tolls or fees for transiting HORMUZ? Shipping industry officials claim that no such unilateral decision to charge fees for crossing a strait was ever made in modern history. Oman and Iran have held a dialogue on this issue. It issued guidelines last month to vessels that transited the Strait via its waters without paying any fees. Gulf States, whose primary access to high seas is through the Strait for vital energy exports, are especially concerned about fees. Trump's proposed 20% surcharge for cargoes could also alarm major consumers of Gulf energy and fertilisers. This could cause global oil prices to rise significantly.
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Frontier Airlines joins Starlink in a bid to attract travelers
Frontier Airlines announced on Tuesday that it will begin installing in-flight Wi Fi?across its fleet?in early 2027. In a bid to compete with Amazon's Kuiper, the Denver-based airline has signed up with Elon Musk’s Starlink to offer in-flight Wi Fi. As airlines compete for customers, they are increasingly turning to high-end amenities. ?Frontier launched Starlink after the airline introduced first-class seats and?loyalty programs aimed at attracting higher spenders. In a recent statement, Chief Executive Officer Jimmy Dempsey stated that "we're continuing to make investments in the products and services most important to our customers." The terms of the agreement were not disclosed by the carrier. Starlink installation can be expensive, costing up to hundreds of millions for large fleets. Frontier Airlines is one of five Indigo Partners portfolio carriers that will install Starlink on more than 1,000 aircraft. Even so, not all low-cost carriers are convinced that the economics works. Ryanair and EasyJet highlighted the costs associated with "in-flight connectivity", highlighting the debate about if premium products could generate enough revenue to justify investment for budget carriers. Starlink is a satellite system that uses thousands of low-Earth orbit satellites to provide a faster connection and lower latency. Reporting by Doyinsola Oladipo, New York; editing by Sonali Paul
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US PJM Power Grid Auction Prices to Stabilize Near Record Highs
The largest U.S. Grid Operator, PJM Interconnection, has set a temporary price limit to help curb the rising costs for consumers and businesses. The auction prices, which are aimed at securing sufficient electricity to cover the most-demanding days on the PJM Grid covering 13 states of the Mid-Atlantic region and Midwest, have soared in recent years to record highs largely 'because the demand from data centres has outstripped the supply. Since 2024, the so-called "capacity prices" determined by the auction jumped more than 1,000% due to this imbalance in supply and demand. This has increased energy bills for people living in PJM regions, which is about one-fifth of Americans. PJM, in response to pressure from a group of governors in various regions, has temporarily capped the prices at its capacity auctions at around $325 per megawatt day. According to a recent statement from the grid operator, the price cap was in place during last year's sale, so prices should remain roughly unchanged for this year. The latest results will be announced at 4 pm EDT on Thursday, and they will take effect in 2028. POWER SUPPLY CUSHION Power plant operators are paid capacity prices to ensure that they can provide electricity at the times when demand is highest. These incentives are also intended to encourage the construction of new plants. After nearly two decades in which power consumption growth stagnated in PJM the region suffered net?losses' of electricity just as energy-intensive data centres began to appear. During its capacity 'auction' in December, PJM came up about 6 gigawatts shy of achieving the required power cushion to meet its reliability standard. For reference, one gigawatt is enough electricity to power approximately 750,000 homes. Other factors that contributed to the?rise in capacity prices include PJM recalculating available supplies during winter, when electricity from solar and natural gas-fired plant is lower than it was during the summer, and retirement of fossil fuel-fired?power plants over a period of years. The grid operator is currently overhauling its market structure, adding new rules and regulations to accommodate the new electricity demand of data centers and large energy consumers such as advanced manufacturers. (Reporting and editing by Emelia Sithole Matarise in New York)
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Britain and EU sign Gibraltar Treaty to ease border crossings
The 'European Union' and Britain signed a treaty on Gibraltar on Tuesday, following an agreement reached last year to ease border crossings and end years of political insecurity over the British Overseas Territory. The treaty was signed in Brussels by the European Trade Commissioner Maros Sefcovic and the British Minister of State for Europe Stephen Doughty. Also present were Spain's Foreign Minister Jose Manuel Albares Bueno, as well as Gibraltar’s Chief Minister Fabian Picardo. Residents of Gibraltar can use their residence cards to cross over to Spain without having to get their passports stamp. Spanish citizens, on the other hand, can do so using an ID card issued by the government. Arriving passengers at Gibraltar Airport will have to show their passports both to Gibraltar and Spanish border officers. Britain also wants a system that is'similar' to the French police stationed at St Pancras Station in London for the Eurostar service. The Treaty of Utrecht of 1713, which ended the War of Spanish Succession, gave Britain Gibraltar. It is a strategically significant enclave located at the southern tip of Spain. (Reporting and editing by Phil Blenkinsop; Sudip Kar Gupta)
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Thyssenkrupp Steel suspends its own barges due to low Rhine levels
The company announced on Tuesday that it had suspended the shipping of raw materials from Duisburg, a western German city, with its own vessels due to low water levels in the Rhine River. Thyssenkrupp Steel transports approximately 50,000 tons per day of iron ore, coal and other materials up the Rhine roughly 240 km (149 miles) from Rotterdam. Commodity traders have already said on Monday that the low?water level during the current heatwave prevents cargo vessels from sailing on the Rhine fully?loaded, which drives up the?freight transportation costs. The persistent and worsening low water situation now affects the supply of raw material to our Duisburg factory. Low water levels have caused our barge transport to be suspended, according to a spokesperson. The?spokesperson said that Thyssenkrupp uses third-party chartered vessels with shallower drafts. Customer deliveries are not at risk. The spokesperson declined to provide a specific number. She stated that the company has reduced its 'blast furnace production' due to a?tighter supply of raw materials. The Rheinische Post reported earlier on this issue. (Reporting and writing by Tom Kaeckenhoff; editing by Kirstiknolle).
EU Aviation body reinstates Middle East flight warnings as fighting resumes
As the U.S. - Iran war erupted again, the European Union 'Aviation Safety Agency' (EASA), on Tuesday, reinstituted and?toughened their warning to airlines in the Middle East. They told them?to avoid?the airspace?"of Bahrain,??Kuwait?, Qatar?, the United Arab Emirates?and over the Gulf of Oman?. EASA retracted its previous advisory just a week before, following a temporary easing of regional tensions due to the interim ceasefire signed between Washington and Tehran last month. In that warning, airlines were asked to be cautious when flying in the airspace of Israel, Jordan and Oman. The new,?restrictive warning is valid until the 29th of July. Iran launched?ballistic rockets at a U.S. On Tuesday, U.S. forces attacked Jordan's air base for the third consecutive night after Iran announced on Saturday that it would close the Strait of Hormuz. Donald Trump, the U.S. president, was prompted by this move to re-impose a blockade on Iranian shipping as well as propose a 20% charge to protect the crucial waterway. EASA stated that the 'presence' of US military bases in the area increases the?likelihood?that states covered by the Conflict Zone Information Bulletin could be directly exposed to Iranian missile and drone attacks. Separately?EASA extended its advisory last week asking airlines to 'not operate in the airspace of Iran, Iraq and Lebanon.
(source: Reuters)