Transport Infrastructure

Cruise operators facing combined judgements of $440 Million The docks were confiscated by Castro's Cuba By Jan Wolfe WASHINGTON (May 21) - On Thursday, the U.S. Supreme Court delivered a "setback" to four American cruise companies that had contested $440,000,000 in combined judgments. They were accused of "unlawfully using docks that had been seized by Fidel Castro’s communist government in Cuba in 1959." In an 8-1 decision, the justices overturned a lower court ruling that had thrown out judgments against Carnival Cruise Line, Norwegian Cruise Line Holdings, Royal Caribbean Cruises, and MSC Cruises. These companies were sued by the U.S....

SpaceX wants to launch 10,000 rockets annually in the next five years. However, government officials must first see that reliability has improved before they approve such an expansion. FAA Administrator Bryan Bedford stated that he had met with SpaceX president Gwynne shotwell who informed him of the ambitious goals set by the company. SpaceX will launch 170 satellites in 2025. Bedford claimed that Shotwell had told him about "the SpaceX five-year plan to reach 10,000 launches per year." Elon Musk, CEO of SpaceX, said in a Forbes interview that aired last week that the company has already launched 10,000 satellites...

The U.S. Department of Transportation announced on Wednesday that it would provide an additional $200 million to start construction on the $8 billion plan for rebuilding 'New York Penn Station', a major artery in the city. Amtrak, the U.S. passenger rail company and President Donald Trump’s administration have said that this plan will include expanding track capacity and building a grand entry on Eighth Avenue leading to a new station. It will also replace aging walkways and open modern concourses. Penn Station, the busiest transit hub in the U.S. with 10 million Amtrak riders and 100 million passengers when regional...

A sinkhole forced the closure of one of the runways at New York’s LaGuardia Airport on Wednesday, causing cancellations and delays. Emergency repairs are also ongoing. Port Authority of New York and New Jersey, the airport management agency for New York City, announced at 11:15 a.m. The?airfield at LaGuardia was being inspected by officials every morning when they discovered a sinkhole. The authority warned that "travelers can expect delays and cancellations today, especially with the forecasted thunderstorms." The Federal Aviation Administration has announced that it is slowing down flights to LaGuardia Airport due to the weather and sinkhole. FlightAware is...

Three sources with knowledge of the matter said that the European Union has shortlisted tungsten and rare earths for its first joint stockpile. The goal is to reduce its dependence on China. One of the sources, and a third source, said that the EU was also in talks with Rotterdam, the largest port in the Netherlands. This is one of the most concrete measures taken by the EU to protect its economy from Beijing, which has a 'dominance' in the production of critical minerals that are vital to defence, semiconductors and energy transition. After Beijing's export restrictions sent shockwaves throughout...

A group representing major U.S. According to written testimony obtained by the. Chris Sununu, CEO of Airlines for 'America?, will testify before a U.S. House of Representatives Committee on Wednesday. He will say that the U.S. Aviation Industry is concerned that private security remains an option and not a mandatory program. Last month, Donald Trump proposed that the TSA (which handles airport security operations) cut more than 9,400 employees and $1.5 billion annually from its budget. This proposal is a step in the direction of privatizing the agency that was created following the attacks on September 11, 2001. Some Republican...

Shares of the 'Adani Group' companies rose between 0.13 and 2.32 percent on Tuesday after the Trump Administration dismissed criminal?fraud allegations against billionaire Gautam Adani. This lifted a major?legal burden from the conglomerate. Adani Enterprises settled allegations of Iran sanctions violations related to the importation of liquefied petroleum gas. Adani Enterprises shares rose by 1.67% before the open of trading and then gained another 2.06% to close at 2,475.30 Rupees. U.S. prosecutors accused Gautam Adani, and his associates in November of last year that they had agreed to pay $265,000,000 to Indian officials as bribes for approvals?for solar energy projects?and...

The Federal Aviation Administration's head will tell Congress Tuesday that the agency did not act on warnings before the fatal January 2025 collision between an American Airlines regional jet and a U.S. Army helicopter, which killed 67 near Reagan Washington National Airport. The National Transportation Safety Board reported in January that a series systemic failures of the Federal Aviation Administration caused a mid-air collision which was the most deadly U.S. aviation disaster for more than 20 years. "Our airspace systems were sending warning signals before that tragic evening." In a written?testimony, FAA Administrator Bryan Bedford told a U.S. Senate Commerce...

U.S. officials announced Monday'steps to reduce the risk of Ebola spreading in the United States,' amid international?concerns about a new outbreak of the disease in the Democratic Republic of Congo. However, they also assured Americans that the risk is low. CDC officials will monitor and screen 'travelers' who left or visited the Democratic Republic of Congo, Uganda and South Sudan in the last 21 days. According to the CDC, this order is only in effect for 30 day and does not affect U.S. Citizens, U.S. Nationals or lawful permanent residents. The CDC stated that the risk of Bundibugyo disease being...

U.S. House members proposed bipartisan legislation requiring electric vehicles to pay $130 annually for "road repairs" and $35 per plug-in hybrid model. The 'House' is working on a bill to reauthorize the highways for five years, allowing $580 billion in funding before the expiration of current legislation on September 30. The majority of federally-funded road repairs are funded by diesel and gasoline tax revenue, which EVs don't pay. The law requires that the fee?be increased by $5 each year beginning in 2029, up to a maximum of $150 for EVs and $50 plug-in cars. The U.S. House Transportation and Infrastructure...

A union statement said that about 3,500 workers from the New York Long Island Rail Road (LIRR), who failed to reach an agreement on wages, went on strike Saturday. This halted the busiest commuter train system in the United States. The Long Island Rail Road is operated and owned by the state’s Metropolitan Transportation Authority (MTA). It serves nearly 300,000 passengers per day. In a press release, the International Brotherhood of Teamsters union stated that a group of five unions had launched a strike. This was 'the first strike in 32 years. The union said that the workers went three...

Federal Aviation Administration (FAA)?said on Friday that it would be reducing its target of?air traffic controller staffing. It also pledged to modernize the scheduling system and increase the amount of time employees spend managing traffic. The FAA announced that it has lowered its target to 12,563 certified air traffic controllers from 14,633. According to a National Academies of Sciences study published last year, overtime costs for air traffic control have increased by over 300% in the past two years, reaching more than $200 million. The report cited a misaligned workforce and an inefficient schedule. According to the report, 'the time...

The crew of the tanker gathered courage and navigated carefully along the route designated by Iran. They hugged the coast and manoeuvred their massive vessel between island checkpoints in the Strait of Hormuz. Agios Fanourios 1, a 330 metre long vessel, loaded with Iraqi crude and bound for Vietnam had been bottle-?up near the coast of Dubai, since late April. On May 10, the tanker set out for the Strait of Hormuz after an agreement with Iran, overseen by Iraq’s Prime Minister. The Iranian orders to the tanker are part of the complex multi-tiered system that Iran has used for...

The U.S. Department of Treasury announced a settlement of $275 million with India's Adani Enterprises Ltd. over the potential civil liability of the company for 32 apparent 'U.S. sanctions' violations. The U.S. Department of Treasury announced on Monday that it had?agreed to a $275 million settlement with India's Adani Enterprises Ltd over the company's potential civil liability for 32 apparent violations of?U.S. sanctions. Treasury's Office for Foreign Assets Control released a statement stating that Adani Enterprises allegedly purchased shipments of liquefied petrol gas from a Dubai-based trader claiming to be supplying Omani and Iraqi gasoline, but the gas?actually originated from...

According to shipping data and industry sources, the United Arab Emirates, along with buyers, have recently sailed several oil tankers through the Strait of Hormuz to transport the oil that has been bottled up by the Middle East conflict in the Gulf. These volumes are only a fraction of what the UAE used to export before the U.S./Israeli war against Iran, but they demonstrate the risk that the buyer and producer are willing to accept to increase oil sales. Saudi Arabia, Kuwait and Iraq have all stopped selling oil, or cut prices dramatically to attract buyers who are not interested....

Saudi Arabian state oil producer Saudi Aramco has held its official selling prices for liquefied petroleum gas in May, while Algerian Sonatrach cut it by up to 18%, due to a higher global supply. Saudi Aramco’s?OSPs for May were at $750 per metric ton of propane Butane is priced at $800 a ton . Propane and butane, two types of LPG, have?different boiling point. LPG is used primarily as fuel for vehicles, for heating and for other petrochemicals. Sonatrach has reduced its?May OP for propane from $700 to $150 per ton And?for Butane by $20 per ton?to $880 . The...

The U.S. and Israel war on Iran is causing financial stress for companies in Australia and New Zealand. Higher fuel prices are stoking inflation, reducing consumer and business confidence and weighing on corporate earnings. Below are some of the companies from Australia and New Zealand who have reported an impact on their business due to the Middle East conflict. Air New Zealand, New Zealand's flag carrier, announced that it would be raising fares in response to the volatility of jet fuel prices in early March. It was one of the first airlines to do so. The airline announced on April...

Investors reacted positively to the United Arab Emirates decision to leave OPEC and the stalemate of the 'Iran conflict. The United Arab Emirates announced on Tuesday that it would leave OPEC, dealing a major blow to the alliance. The UAE is one of OPEC’s biggest producers. Its departure will weaken the group’s grip on the global oil?supply, and further its rift with Saudi Arabia. In Abu Dhabi, the share index rose 0.8%. This was boosted by a rally of companies linked to the oil giant?Abu Dhabi National Oil Company. ADNOC Drilling grew by 8.3%. ADNOC Gas grew by 3.1%. ADNOC...

Shipping data revealed that a superyacht associated with Russian billionaire Alexey Mordashov, who is sanctioned, sailed the Strait of?Hormuz Saturday. It was one of?very, very few vessels? to pass through the blocked shipping lane in the?heart of U.S.Iran conflict. Nord, a 142-meter (465 foot) yacht valued at over $500 million, left a Dubai Marina on Friday around 1400 GMT, crossed the Strait on Saturday and arrived in Muscat on Sunday morning. The multi-deck vessel's route is unclear. Iran has restricted the flow of traffic through the Strait since?February. The strait is responsible for around a fifth of the world’s oil...

China's Foreign Ministry rejected on Friday an accusation made by U.S. president Donald Trump, that a cargo ship?flagged with Iranian flag?was seized by the United States. The "gift" from China was the armed forces. The U.S. claimed it had fired and seized a cargo ship from Iran that was trying to evade the blockade of Iranian ports. The Iranian military claimed that the ship was en route from China, and promised retaliation for what it called "armed piratery by the U.S." military." Trump told CNBC on Tuesday that the ship had "some things on it, which weren't very nice." "A...

As fuel prices rise, they are causing inflation and affecting consumer confidence, while also weighing on the earnings of Australian and New Zealand companies. Some of the companies from Australia and New Zealand have reported an impact on their business due to the Middle East conflict. Air New Zealand, New Zealand's flag airline, announced that it would be raising fares in response to the volatility of jet fuel prices. It was one of the first airlines to do so. The airline announced on April 7 that it would cut flights by 4% and 1%, respectively. Auckland International Airport, New Zealand:...

Gulf equities fell in?early trading on Monday on fears that the ceasefire?between Washington, D.C., and Tehran, could unravel, after the U.S. seized?an Iranian freight vessel. Meanwhile,?traffic along the?Strait of?Hormuz remained largely halted. The hope for a lasting peace in the Middle East dimmed when Iranian state media reported Tehran's rejection of new talks. It also said that Tehran would not participate in a second round if negotiations, which the U.S. hoped to convene before Tuesday's ceasefire expired. The war, now in its eighth year, has triggered an historic shock for global energy supply, sending oil costs soaring, as the Strait...

Early trade in the UAE on Monday was a decline as concerns grew that the 'ceasefire' between Washington and Tehran might unravel after the U.S. seizes an Iranian cargo vessel, while traffic through the Strait of Hormuz remains largely suspended. The prospects for peace in the Middle East have been further dimmed by reports in Iranian state media that Tehran has'rejected' new talks and will not participate in a second round of negotiations which the U.S. hoped to convene before Tuesday's ceasefire expired. They cited the continuing blockade, the threatening rhetoric and the United States'shifting positions' and 'excessive requests'. Dubai's...

?Ship sources reported that two merchant vessels were hit by gunfire while attempting to cross the Strait of?Hormuz. After receiving a mariner's notice a day before, a number of commercial vessels attempted to transit the strait. The notice stated that passage was allowed but limited to Iran-approved lanes. Sources in maritime and shipping security said that on Saturday, "at least two ships" reported that Iranian boats had fired shots. These incidents occurred in the waters between Qeshm Island and Larak. Sources said that the vessels returned without completing their crossing. The United Kingdom Maritime?Operations agency (UKMTO), said that it received...