Transport Infrastructure

Teamsters said that it opposed the merger of U.S. freight railways Union Pacific and?Southern on Wednesday. In a joint press release, union presidents representing 20,000 employees at both railroads stated that they will not support any?deal? that does not protect the lives and livelihoods of workers. Since its announcement, the proposed merger has been criticized by unions and other railroads. It aims to create the first coast-tocoast railroad in America and reduce delays and handoffs. Teamsters claimed that executives from both railroads had failed to protect jobs or address?other concerns. It's time that Union Pacific and Norfolk Southern get serious...

According to internal documents and ship tracking data from PDVSA, at least 'two' tankers containing Venezuelan methanol - and petroleum -coke - left the OPEC nation's largest port on Wednesday. Since the United States first imposed sanctions against Venezuela in 2019, it has not targeted oil byproducts and petrochemicals exports. Since the United States first imposed energy sanctions on Venezuela in 2019, it has not targeted exports of oil byproducts or petrochemicals. After a cyberattack this week that affected PDVSA's central administrative systems, the cargoes are being shipped. (Reporting and editing by Julia Symmes Cobb; Marianna Pararaga)...

Market sources say that the U.S. president Donald Trump has ordered a ban on?all sanctioned tankers' entering and exiting Venezuela. Washington announced its latest move on Tuesday to increase pressure on Nicolas Maduro’s government through the imposition of a blockade. Venezuela uses naphtha as a diluting agent for its heavy crude oil to make it easier to transport. In July, it began importing naphtha in Russia after U.S. sanctioned cut off supplies to its former American suppliers. Due to the fact that Russia is using sanctioned ships to deliver its naphtha to Venezuela, traders have warned these vessels could be...

According to a public letter published on Tuesday, the head of the Federal Aviation Administration said he hadn't divested his shares in Republic Airways. However, he would continue not to be involved with any issues that might impact the airline’s finances while he worked to sell his holdings. Last week, Democratic U.S. Senator Maria Cantwell stated that Bryan Bedford, former CEO of Republic and FAA Administrator, had violated his ethics agreement because he hadn't completed the sale of shares within 90 days after his confirmation. Bedford informed Cantwell, in a Monday letter, that he was recused from any matters affecting...

According to a public letter published on Tuesday, the head of the Federal Aviation Administration stated that he had not divested shares in Republic Airlines but would "continue" to recuse himself from any issues which could affect the airline's financial health. Last week, U.S. Senator Maria Cantwell stated that FAA Administrator Bryan Bedford who was previously CEO of Republic had violated his ethics agreement because he hadn't completed the sale of shares, despite having agreed to do so within 90 days after his confirmation. Bedford informed Cantwell that he was recused from any matter which had a direct impact on...

Gene Seroka said that the Port of Los Angeles handled 11.5% less volume of imports in November than the same month last year. Shippers had built up early inventories to avoid President Donald Trump's new tariffs on items such as auto parts, toys and metal furniture. Imports at the Port of Los Angeles totaled 406,421 20 foot equivalent units (TEUs). He said that exports fell 8.4%, to 113.706 TEUs. This was due to the fact that retaliatory duties on U.S. agricultural and manufactured products, as well as trade agreements excluding United States, began to take hold. He said that export...

Bryan Bedford, the head of the U.S. Federal Aviation Administration, said that the agency will spend $6 billion on telecom infrastructure for air traffic control and on radar surveillance systems by 2028. Congress has approved $12.5 billion for the reform of the U.S. aging air traffic control system, and the administration is seeking another $19 billion to complete the project. The FAA air traffic control system has suffered a number of failures including major outages affecting Newark traffic. FAA Administrator Bedford also defended his agency's decision of requiring flight cuts in the midst of a government shutdown. He told a...

Federal Aviation Administration announced on Monday that it will open a "new aviation safety" office, as part of its strategic plan. The goal is to improve hiring and training while identifying potential hazards quickly. This comes after criticisms for not addressing near-misses. FAA Administrator Bryan Bedford released "Flight Plan 2026", in response to a mid-air collision that occurred between an American Airlines Regional Jet and an Army Helicopter near Reagan Washington National Airport on January 28th, which killed 67 people. He said that the plan will create an FAA Safety Management System and implement a FAA-wide safety risk management process....

Greg Abel's elevation to Berkshire Hathaway's CEO will mark the end of the career of a native Canadian who impressed the legendary investor with his commitment to the culture of the company, his long-term outlook, and ability to manage money. Buffett announced Abel's promotion as chief executive officer during Berkshire Hathaway's annual meeting in Omaha, Nebraska last May. Many people were surprised by the announcement. They thought that the 95-year old billionaire would never leave the conglomerate which he has been running since 1965. Abel was unaware of the announcement. Abel's promotion was expected in May 2021 when Charlie Munger,...

These are the most popular stories from the business pages of the New York Times. These stories have not been verified and?doesn't vouch for accuracy. A JetBlue pilot reported that he narrowly missed colliding with an?U.S. A military aircraft was flying over the Caribbean after a?Air Force refueling plane passed in front of the commercial plane, without broadcasting its location. According to Syrian and American officials, the Syrian gunman who killed two U.S. Army soldiers and an American civilian interpreter belonged to Syria's security force and was scheduled for dismissal due his extremist views. California Governor Gavin Newsom is planning...

BNSF Railways, a crown jewel of Warren Buffett’s Berkshire Hathaway, claims to be an environmental leader within the U.S. railway industry, with the cleanest fleet of locomotives in North America. In its latest sustainability report, BNSF urges people to "think green" when they see the steel wheels of orange locomotives and freight cars moving along steel rails. The company has the biggest share in an industry with a serious pollution problem. According to government data, U.S. railroads emit more nitrogen oxides, the main component of smog than all of the coal-fired plants combined. U.S. railways produced together about 485,000 tonnes...

The Federal Aviation Administration reported that a United Airlines flight bound for Tokyo had to'return' to Dulles International Airport, in northern Virginia, on Saturday afternoon due an engine failure. United's spokesperson stated that the flight landed soon after takeoff because of the loss of power in one engine. The spokesperson reported that there were no injuries among the 275 passengers on board and the 15 crew. Social media X posted photos and videos of smoke?billowing near the runway. Dulles is the nearest international airport to Washington, D.C., located approximately 25 miles (40 kilometers) away. The FAA announced that it would...

Three sources have confirmed that the Russian government has ordered Russian Railways to dispose of a central Moscow skyscraper with 62 floors to help pay down some of the $50 billion debt owed by this railway monopoly. Last month, it was reported that the?government? is discussing ways to support Russia's largest commercial employer. The state-owned Russian Railways employs 700,000 workers and has seen its revenues fall amid the sharp slowdown of Russia's wartime economy. Meanwhile, debt costs are on the rise, driven by interest rates that have reached their highest levels in 20 years. A government meeting held last week...

A Belarusian accused of bombing two trains in Siberia at the order of Ukraine's Intelligence Services was jailed on Thursday for 22 years by a military court. The General Prosecutor announced that Sergei Yeremeyev had been found guilty of committing an act of terrorism, and planting explosives in two freight trains, including one which was traveling through Russia's largest conventional rail?tunnel, at the time. The FSB?said that Yeremeyev admitted his 'guilt' at the time of arrest. Security Service of Ukraine (SBU), which claimed responsibility for the two attacks, said that it wanted to disrupt rail lines in Siberia, which Russia...

Ukraine's Navy accused?Russia on Saturday of attacking a civilian Turkish vessel carrying sunflower oil to Egypt with a drone, just a day after Moscow attacked two Ukrainian ports. The navy released a statement via Telegram stating that the vessel was named the Viva, and it had 11 'Turkish Citizens on board. The navy added that no one was injured and the vessel continued its journey towards?Egypt. The statement accused Russia of violating maritime law. "The strike took place 'in the open sea in Ukraine’s exclusive economic zones, outside of the range of Ukrainian aircraft defence systems," it said. The Navy...

Five shipping and insurance sources reported on Thursday that the cost of war insurance for ships sailing into the Black Sea has increased again. Insurers are reviewing policies every day as the conflict in Ukraine spills over onto sea lanes. Black Sea is vital for shipping grain, oil and oil-based products. Bulgaria, Georgia and Romania, as well Russia and Ukraine, share its waters. Hakan Fidan, the Turkish Foreign Minister, said on Wednesday that recent attacks on Russian-linked tankers on the Black Sea threatened the safety and security of everyone in the region. Ships entering Russian or Ukrainian Black Sea terminals...

The Turkish maritime authority reported on Tuesday that a Russian-flagged oil tanker, sailing from Russia to Georgia with sunflower oil loaded aboard, was attacked near the Turkish coast. However, its 13 crew members were not injured. The Maritime Affairs Directorate reported that the vessel MIDVOLGA-2 had been attacked 80 miles (129 kilometers) off the Turkish coastline, but it did not request assistance. It was heading towards the Sinop port in Turkey. The report did not give any other details. Last Friday, Ukrainian drones targeted two tankers that were sanctioned in the Black Sea, as they approached a Russian port with...

After a drone attack that severely damaged the loading infrastructure and halted oil exports, Kazakhstan asked Ukraine to stop attacking its Black Sea terminal, which is used by the Caspian Pipeline Consortium. This terminal handles more than 1 percent of all global oil. CPC, which has shareholders from Russia, Kazakhstan and the United States, announced that it had stopped operations after an attack by a Ukrainian drone on a mooring in its Russian terminal at the Black Sea caused significant damage. In an effort to undermine the Russian war economy, Ukraine launched a wave of attacks this year on Russia's...

The city's mayor reported that Russian air defences destroyed eight drones on their way to Moscow, just a day after an attack by Ukraine on a heat and power station had cut off the heating for thousands of people outside the Russian capital. According to the Russian Defence Ministry, 10 Ukrainian drones were downed in three Russian regions, including Moscow and Kaluga, as well as Bryansk which borders Ukraine, on Monday. In a press release, Moscow Mayor Sergei Sobyanin stated that emergency services are working on the site of the drones. The drone attack on the Shatura Power Station in...

Sources say that the differentials between Russian Urals crude and other grades are under pressure due to the weakening value of the grade in India's ports. Three sources in the oil trade reported that discounts for Russian Urals crude have tripled in Indian ports since August compared to Brent dated as U.S. sanction drive key buyers from Moscow-supplied fuel. According to traders, the December Urals cargoes are currently trading at a discount of $5-$6 per barrel compared to Brent. This is about three times greater than the $1-2 seen in August. PLATTS WINDOW There were no bids or offers reported...

The Prime Minister Donald Tusk announced on Tuesday that Poland had identified two individuals responsible for the explosion that occurred on a rail route leading to Ukraine. He added that these were Ukrainians that collaborated with Russian intelligence, and that they fled to Belarus. The explosion on the Warsaw-Lublin Line, which connects Poland's capital with the Ukrainian border, came after a wave arson, cyberattacks and sabotage in Poland and other European nations since the beginning of the conflict in Ukraine. Warsaw said that Poland is now one of Moscow's main targets because it acts as a hub to aid Kyiv....

Rostec, a Russian state-owned conglomerate, said that on Tuesday its defence exports had fallen by half since the year 2022 due to domestic orders becoming a priority in light of the conflict in Ukraine. However, Rostec expects a recovery within upcoming months. Sergey Chemezov, Rostec's chief executive officer, told reporters that until 2022 Russia ranked second in the world in terms of defence exports after the United States. However the volume has dropped "because we had to supply the majority of our production to our own army". He said that sanctions have caused problems in both the civil and defense...

Last week, Ukraine attacked the port of Novorossiysk in Russia and forced it to suspend its oil exports. The Neptune rocket it used was one of many long-range weapons Ukraine developed since the invasion in 2022. According to Kyiv, here is a list of the new Ukrainian weapons. LONG NEPTUNE Ukraine claims its "Long Neptune", a land-attack cruise rocket with a maximum range of 1,000 km (621 mi), is produced domestically. The missile was developed using the Neptune antiship missile, which had a shorter range before the invasion. Volodymyr Zelenskiy, the President of Russia, announced in March that its range...

The oil prices dropped in the early Asian trading on Monday, wiping out the gains of last week, as loadings were resumed at Novorossiysk, the major Russian export hub, after a suspension of two days at the Black Sea Port that was hit by an attack from Ukraine. Brent crude futures fell 58 cents or 0.9% to $63.81 per barrel at 0050 GMT. U.S. West Texas Intermediate crude futures traded at $59.50 per barrel, down by 59 cents or 1.0% since Friday's closing. The benchmarks both rose by more than 2% to close the week on a modest note. Exports...