Transport Infrastructure

Freezer property financial investment trust Lineage Inc is cutting staff after a hit preliminary stock offering in the U.S. in 2015, the Wall Street Journal reported on Tuesday, pointing out a business statement. The Novi, Michigan-based business did not disclose the number of jobs or types of roles affected by the layoffs, according to the report. As part of a detailed evaluation of our operations, we have actually made the tough decision to reduce specific positions within the business, Lineage said in a statement to Reuters and added that this relocation was required for long-term success and adaptability. Lineage, backed...

A U.S. regulator on Wednesday proposed new rules to enhance security requirements for carbon dioxide and hazardous liquid pipelines at a time when carbon capture technologies see increased adoption to eliminate international warming. The new guidelines will reinforce existing requirements and, for the first time, establish brand-new norms for transferring carbon dioxide in a gaseous state via pipeline, the U.S. Department of Transportation's Pipeline and Hazardous Products Safety Administration (PHMSA) stated. The U.S. has actually anticipated a boost in carbon dioxide pipelines across the nation as the battle versus worldwide warming leads to higher adoption of carbon capture and sequestration...

The following are the top stories in the Wall Street Journal. Reuters has not confirmed these stories and does not vouch for their accuracy. - Canada said Tuesday that it approved U.S. grains merchant Bunge's $8.2 billion offer for Glencore-backed Viterra, as the companies consented to concessions to attend to previous antitrust concerns. - Refrigerated-storage business Family tree cuts staff six months after releasing the biggest initial stock offering in the U.S. in 2015. - Top BlackRock executive Mark Wiedman to leave the possession supervisor. Wiedman was viewed as one of the leading candidates to succeed longtime president Larry Fink...

Cold storage property investment trust Family tree Inc is cutting staff after a blockbuster initial stock offering in the U.S. in 2015, the Wall Street Journal reported on Tuesday, pointing out a company declaration. The Novi, Michigan-based company did not disclose the number of tasks or types of roles impacted by the layoffs, according to the report. Lineage did not right away respond to a Reuters request for remark. Lineage, backed by personal equity firm Bay Grove Capital, debuted last July at $82 per share, above the offer cost of $78. each, offering the company an appraisal of $19.2 billion....

Traffic in Manhattan's. main business district fell by 7.5% recently and 273,000. fewer cars got in the district's main downtown after. the first blockage pricing charge in the U.S. took effect on Jan. 5, New york city City transit authorities stated on Monday. The fee is created to minimize traffic and raise billions. for mass transit, with the majority of the revenue produced targeted to. update the city's train and bus systems. The early information supports what New Yorkers have been telling us. all week-- traffic is down, the streets feel safer, and buses. are moving much faster, said Janno...

A freight lobby has actually warned of the risk of logistical collapse after Brazilian transportation firm ANTT altered payment system guidelines for trucks moving countless lots of agricultural commodities and other freight, according to a declaration on Thursday. Intro of electronic tags as the only accepted ways of payment comes as Brazil starts gathering a huge soybean crop of nearly 170 million heaps, stated Carley Welter, executive director at ANATC, a national association of freight companies. ANATC, whose members have actually 2.2 million signed up truck drivers, said firms supplying the tags have been not able to meet high demand....

The union that represents 45,000 dockworkers in the U.S. East Coast and Gulf Coasts, and their employer groups said on Wednesday they had reached a tentative agreement on a six-year contract. This avoided a strike which could have disrupted supply chains and taken its toll on U.S. economic growth. In a joint press release, the United States Maritime Alliance and the International Longshoremen's Association called the agreement a win-win that avoided a possible strike by landing ahead of the January 15th deadline for negotiations. The groups stated that "this agreement protects existing ILA jobs, establishes a frame work for implementing...

Three traders reported that Shandong Port Group had banned U.S. sanctioned tankers calling at its ports. The province in eastern China is home to independent refiners who are the largest importers of oil coming from countries under U.S. sanctions. Ship tracking data from Kpler revealed that the province imported 1.74 million barrels of oil per day (bpd), or 17% of China’s total imports, from Iran, Russia, and Venezuela in 2017. The traders said that if the ban is enforced, it will increase shipping costs for independent refining companies in Shandong who are the main purchasers of discounted sanctioned oil from...

A takeover deal for Malaysia Airports Holdings by a consortium making up the nation's sovereign wealth fund Khazanah and BlackRock's. International Facilities Partners has actually been encompassed Jan. 17 from. Jan. 8, stock filing on Monday revealed. The offerors, that include Malaysia's Employees Provident. Fund and the Abu Dhabi Financial Investment Authority, have secured a. 70.08% stake in Malaysia Airports since Monday, versus 40.85%. hung on Dec. 6, 2024, the filing revealed. Another 5.65% stake was moved to the consortium. pending receipt of an approval file as of Monday, it said. The consortium will make a statement on the level...

The Federal Air travel Administration's tougher oversight of Boeing will continue indefinitely, the agency's outgoing head stated on Friday, nearly a year after a door panel missing four crucial bolts flew off a brand-new Alaska Airlines 737 MAX 9 in midair. The Jan. 5, 2024 event triggered FAA Administrator Mike Whitaker to cap production at 38 737 MAX airplanes monthly and temporarily ground 170 planes. The incident exposed major security concerns at the U.S. planemaker and contributed to the departure of its then-CEO Dave Calhoun. We have carried out an unprecedented number of unannounced audits; and we conduct regular monthly...

The International Longshoremen's. Association and the United States Maritime Alliance (USMX) are. set to resume agreement talks on Jan. 7, according to an individual. acquainted with the matter. Talks between the ILA, which represents more than 45,000. dockworkers across the U.S. East and Gulf coast ports, and the. employer group are at a deadlock over issues connected to. automation at port terminals. Both celebrations signed a tentative handle October, which offered. workers a 62% wage hike over six years, to end a three-day. strike however left issues associated with automation unresolved. Another coast-wide strike at U.S. East and Gulf coast...

A record number of activist investors installed campaigns at international companies in 2024, a. Barclays report revealed on Thursday, as their pressure techniques. produced strong returns, and more development is likely this year. Looking back to 2024, it feels nearly as if there was a. shareholder revolt, said Jim Rossman, global head of. shareholder advisory at Barclays. In 2024, 160 investors such as hedge funds pushed companies. to make moves like improving technique and operations or firing. presidents, consisting of 45 who deployed the method for the. first time, Barclays stated. That's up more than 18% from 135 investors in...

Sources told The Greek Government on Friday that Piraeus, Greece's largest port, is still operating normally despite the U.S. blacklisting of COSCO, its majority owner. The U.S. Defense Department announced on Monday that it added COSCO Shipping, a Chinese shipping company, to a list it claimed worked with China's Military. The shipping industry views this as an attempt to discourage U.S. firms from trading with COSCO Shipping. COSCO, the largest shipping group in the world, announced on Wednesday that no of its units were military companies. It also said that its global operations would continue uninterrupted and that the company...

China's Foreign Ministry said that it did not know about the decision by Shandong Port Group to ban U.S. sanctioned vessels in its east coast harbours. The group supervises several major terminals located in Shandong province, the main entry port for oil imported from Iran, Russia and Venezuela. These embargoed oil flows accounted for almost a fifth (or 5%) of all imports last year. If the ban was enforced, traders claim it would increase shipping costs for independent refining companies in Shandong. These are the main purchasers of discounted sanctioned oil from the three countries. It could also cause a...

According to a letter sighted by us on Monday, the Sudan lifted its near-one-year force majeure for the transportation of crude from South Sudan to an port on the Red Sea. Khartoum declared force majeure last March after the main oil pipeline transporting South Sudanese oil through Sudan to be exported suffered stops linked to the problems caused by the war between Sudan’s army and insurgents Rapid Support Forces. In a letter dated January 4 from Sudan's Ministry of Energy and Petroleum to South Sudan’s Energy Minister, Khartoum announced that it would lift the force majeure due to new security...

Dutyfree costs in China's. island province of Hainan, where worldwide luxury players from LVMH. to Kering have actually started a business, slumped 29.3%. last year as a weak economy saw a sharp drop in domestic. visitors. Consumers going to Hainan, known for its glitzy seafront. hotels and sandy beaches, spent 30.94 billion yuan ($ 4.24. billion) on duty-free products in 2024, regional custom-mades information revealed. on Thursday, falling 29.3% from a year earlier. The variety of consumers checking out Hainan fell 15.9% to 5.683. million, the data revealed, from 6.756 million in 2023. While the retail invest in Hainan is...

China's capital Beijing passed brand-new regulations on Tuesday to encourage self-governing driving technology in the city, with authorities preparing to ultimately permit driverless public buses and taxis. Self-governing automobiles that pass roadway screening and security assessments will be enabled to look for roadway trials, the state-backed Beijing Daily paper reported, which stated the new guidelines take effect from April 1. The city supports making use of autonomous automobiles for personal vehicles, metropolitan buses, cable cars and taxis, it said, adding that it wishes to encourage the building and construction of smart road infrastructure to support such transport. In a separate...

Uncertainty surrounds the deadliest airplane crash on South Korean soil, air travel specialists said on Sunday, questioning how much impact a possible bird strike pointed out by authorities might have had in lowering the Jeju Air flight. The apparent absence of landing equipment, the timing of the twin-engine Boeing 737-800's tummy landing at Muan International Airport and the reports of a possible bird strike all raised questions that could not yet be responded to. The single-aisle airplane was seen in video broadcast on local media skidding down the runway without any landing equipment released in the past hitting a wall...

The crash of Jeju Air flight 7C2216 on Sunday marks the deadliest ever on South Korean soil and the worst including a South Korean airline given that a 1997 Korean Air Lines crash in Guam that killed more than 200. The crash of the Boeing 737-800 at Muan International Airport is the very first deadly accident involving the nation's. greatest budget plan airline, which was founded in 2005. Jeju Air. ranks just behind Korean Air Lines and Asiana. Airlines in regards to the number of travelers in South Korea. The previous most lethal air accident in South Korea remained in....

A minimum of 28 individuals were dead on Sunday after an airliner went off the runway and crashed at South Korea's Muan International Airport, Yonhap news agency reported. The mishap took place as the Jeju Air aircraft, carrying 175 passengers and 6 team on a flight from Thailand, was landing at the airport in the south of the nation, the report stated. Two people were found alive as the rescue mission was continuing, according to Yonhap. Authorities were working to rescue individuals in the tail area, an airport authorities told Reuters. Images shared by local media showed smoke and flame...

Domestic rates of liquefied petroleum gas (LPG) in Russia cut in half in December from the previous month due to an influx of the fuel, exports of which have been suppressed by European sanctions, Reuters computations showed. The European Union's sanctions against Russia's LPG took result on Dec. 20. The limitations were proposed in 2015 by Poland, one of Russia's largest LPG importers. LPG, or propane and butane, is primarily used as fuel for vehicles, heating and to produce other petrochemicals. A sharp rise of LPG products to the domestic market caused a. collapse in wholesale rates in Russia to...

P residentelect Donald Trump on Saturday accused Panama of charging extreme rates for use of the Panama Canal and said that if Panama did not manage the canal in an appropriate fashion, he would demand the U.S. ally hand it over. In a night post on Reality Social, Trump likewise cautioned he would not let the canal fall under the incorrect hands, and he appeared to caution of prospective Chinese impact on the passage, composing the canal ought to not be handled by China. The post was an exceedingly unusual example of a U.S. leader saying he could push a...

The Federal Aviation Administration stated on Monday it has actually completed guidelines needing aviationrepair stations in foreign nations to conduct drug and alcohol screening for workers performing safetysensitive upkeep functions for U.S. airline companies. The guideline, which needs compliance by December 2027, will impact about 977 repair work stations in 65 countries, the FAA said. The firm said foreign governments or repair stations can obtain a waiver based upon existing testing and requirements. This rule will guarantee these workers are held to the equivalent high level of security requirements, regardless of where they are physically situated, stated FAA Administrator Mike...

Australia signed an economic and safety treaty with Nauru, Monday. It pledged A$100,000,000 ($64,000,000) in direct budget assistance over five years as well as A$40,000,000 to increase security in this remote Pacific Islands nation. China is also courting Nauru. This is Australia's second security agreement in the Pacific Islands, which effectively blocks China from creating policing links after a similar one agreed with Tuvalu. It also gives Australia a right of veto on Chinese involvement in Nauru’s banking, telecommunications, or security sectors. Canberra grew more concerned about Beijing's intentions in the Pacific Islands after Solomon Islands signed a 2022 security...