Transportation

Via Transportation, a transit technology company, was valued at $3.5 Billion on Friday following its shares' 4.4% decline in their NYSE debut. The stock opened at $44, which is below the $46 offered price. Shareholders can be sold via the internet Sell 493 Million Dollars to raise $493 Million 10,7 millions shares priced above the range of $40-$44. Investors are reviving the U.S. IPO Market as easing tensions in trade and expectations of lower interest rates have boosted investor appetite. This has led to the busiest U.S. IPO week since 2021. Via, unlike traditional ride-hailing services, works in conjunction with...

Via Transportation, a transit technology company and a few existing investors, raised $492.9 in an initial public offering in the United States on Thursday. This is the latest addition to a September rebound of IPO activity. Via, a New York-based firm, sold 10.7 million shares for $46 each. This was above the $40 to $44 range that it had advertised. Via's valuation is $3.65 billion. The U.S. IPO Market has recovered in the fall window of 2025. This is due to an ebullient market, rising expectations of rate reductions, and the strong debuts of several big names. Investor anxiety about...

Southwest Airlines CEO Bob Jordan stated on Thursday that the company was looking into long-haul flights internationally and premium airport lounges to help it turn around. Jordan said that while the company would have to consider a wide body aircraft for international long-haul service, they could first choose a narrow-body to serve these routes. After the COVID-19 epidemic, the Dallas-based carrier has struggled to find its feet. It operates mostly domestic flights using a Boeing 737 fleet. The carrier's low earnings have increased pressure on it to change its business model. It now charges for checked baggage, ending the free...

Canada announced five major projects that would be eligible to receive fast-track approvals on Thursday as part of its campaign to diversify its economy and reduce the reliance on United States due the tariffs. A major projects office has been set up by the government of Mark Carney to reduce red tape. Companies can spend a decade to get approval for a mine, pipeline or other project. "We used build large things in this nation, and we used build them quickly." "It's time to get going again," said Prime Minister Carney at a televised news conference. One of the five...

Two sources who have direct knowledge of this matter said that a group of investors, led by BlackRock’s Global Infrastructure Partners, is in discussions with lenders in order to secure financing of up to $10 billion for Aramco’s Jafurah deal. Two sources confirmed that JPMorgan, Japan's Sumitomo Mitsui Banking Corporation, and other banks are in discussions to take part in the transaction. This will allow Aramco the opportunity to receive cash up front in exchange for regular payments. They declined to name the individuals because it was not public information. Aramco BlackRock JPM and SMBC all declined to comment. Aramco...

U.S. Federal Aviation Administration has issued a safety warning to airlines on Tuesday, citing an alarming number of incidents involving lithium batteries. The FAA has recommended that airlines implement risk mitigation strategies. This includes clear messaging about potential fire risks associated with lithium batteries carried by crew and passengers, and reviewing firefighting training and procedures. The FAA reported that 50 incidents of lithium-ion batteries causing extreme heat, smoke or fire have occurred in the U.S. this year. Some of these have caused accidents or injuries. A cell phone that was being used by a passenger on an American Airlines flight...

Two sources familiar with the matter confirmed that Japan hired Wood Mackenzie, an energy consultancy, to assess the proposed 800-mile Alaska gas pipeline project and LNG plant. This is a sign of its support for the $44billion project pushed by U.S. president Donald Trump. One of the sources said that the assessment could ease concerns of potential Japanese investors and off-takers about a project which has been stalled for decades because of cost and logistical issues. It is not clear what the scope of the Wood Mackenzie deal is, nor if any report that results from it will be public....

According to a filing made by the company with the state's environmental regulators and data from LSEG, a financial firm, Freeport LNG is on track to receive more natural gas at its Texas export plant on Monday. This indicates that a liquefaction station that was shut down on Saturday will likely be back in operation. Freeport LNG is closely watched by the global market because its start-ups and stop-offs often cause price fluctuations. Gas prices in the United States typically fall when flows to Freeport decrease due to a lower demand for fuels from the export facility. Prices in Europe...

Trans Mountain, the Canadian pipeline operator, expects the dredging work at the Vancouver port to be finished by the end of 2026, or in early 2027. This will allow ships load more oil, according to a senior executive on Monday. Jennifer Pierce, Chief Administrative Officer of Trans Mountain, said this at the APPEC Conference in Singapore. When this dredging project is finished at the end or beginning of 2027 (end of '26), an Aframax could move out of the dock with 100% of its cargo. This will boost our shippers' competitiveness. Aframax tanks can transport up to 800 000 barrels....

New Fortress Energy, a U.S. LNG company, posted a larger loss for the second quarter on Friday as lower contributions from asset sales affected its performance. The New York-based firm reported a net profit of $556.8 millions, or $2.02 per common share, for the three months ending June 30. This compares to a $86.9million loss, or 44c per share, one year ago. NFE's revenue total fell from $428.8 million to $301.7 in the second quarter. The company's core adjusted earnings dropped to a loss $3.7 million, from a profit $120.2 million one year ago. New Fortress Energy's earnings were negatively...

Federal Aviation Administration announced on Friday that it would extend the ban on U.S. flight to Port-au-Prince, Haiti's capital city, through March 7 due to risks posed by armed groups for civil aviation. The FAA temporarily stopped all flights into Haiti in November but allowed flights to resume at six other airports around northern Haiti following the gunfire that hit three U.S. commercial aircraft. The restrictions were set to expire in one week. U.S. planes are allowed to fly over Port-au-Prince at a height of 10,000 feet (3,048 meters). Last year, the agency allowed American carriers to resume flights at...

On Thursday, the U.S. Midwest Grid Operator announced that it had selected 10 initial power plant projects to be fast tracked for review. This is part of a program to quickly add new resources as demand for energy surges. The record U.S. consumption of electricity due to artificial intelligence data centres and the electrification and buildings and transportation in the United States is pushing grids to their limits, which has led some operators to accelerate new resources. MISO is the Midcontinent Independent System Operator that controls electricity flow through transmission lines in 15 U.S. States. In addition to conducting engineering...

The Russian authorities announced on Thursday that they had reopened Krasnodar's main airport, which is one of the biggest cities in southern Russia. Flights were suspended in 2022 for security reasons after the beginning of the Ukraine war. The transport ministry stated that it had solved outstanding security issues. It said the reopening would help local businesses and residents, and provide access to resorts on the Black Sea and Azov Sea coastline. Rosaviatsiya (the aviation watchdog) said that Krasnodar Airport, which had been completely overhauled, would receive its first flight regularly from Moscow when an Aeroflot plane is due to...

Two traders with knowledge of the situation said that the crude oil loadings at the Caspian Pipeline Consortium's (CPC's) marine terminal in Yuzhnaya Ozereyevka, near Novorossiisk, have remained steady so far this month at 1.6 million barrels a day, according to a preliminary export schedule. The revised CPC Blend loading plan for September has not changed from the provisional schedule as the expected disruptions to exports due to an oil spill at the mooring port did not occur. CPC suspended its operations on August 29 due to an accident that occurred during a loading process and a spill of oil...

Ukraine's Energy Ministry said that Russian forces attacked a thermal power plant in the Kyiv area as part of a nighttime attack. This caused localised blackouts, and gas shortages. The strikes came a day following the largest air strike by Moscow in its three-and a-half-year war against Ukraine. The ministry posted a message on Telegram saying that the goal was to "cause even more hardship for the peaceful population in Ukraine", and to leave Ukrainian homes and hospitals, kindergartens, schools and other institutions without heat and light. On Monday, rescuers and technical workers were on the scene. The Russian defence...

Ukrainian officials reported on Sunday that Russia had launched the largest air strike of the war against Ukraine over the weekend, causing the main government building in central Kyiv to catch fire and killing four people including an infant. Volodymyr Zelenskiy, the president of Ukraine, said that the drone barrage and missiles killed four people, and caused extensive damage in the north, the south, and the east of the nation, including Zaporizhzhia and Kryvyi Righ, Odesa and Sumy, and Chernihiv. Zelenskiy, in a recent post on X.com, said that such killings are a deliberate act and a war prolongation. He...

Janaf's CEO said that Croatian pipeline operator Janaf can cover the needs of two refineries in Hungary and Slovakia of Hungarian oil company MOL, which currently rely on Russian oil via the Druzhba pipe to meet their requirements. MOL warned of possible fuel shortages last month in Central Europe after Ukrainian attacks on Druzhba, which caused a temporary suspension there. MOL, who signed a February contract with Janaf for the delivery of 2.1 millions tons of oil to the end of 2025 has expressed doubts that the Adriatic Pipeline could provide enough oil even if Druzhba shipments were stopped completely....

Two sources familiar with shipping data said that Russia would deliver oil to Brunei for the first ever via the Northern Sea Route in September. This will expand its export reach by using the strategic Arctic route. NSR shipments were limited until now to China because of its proximity to Russia’s Far East. Moscow has actively promoted the route to partners such as India and the U.S., claiming that it is cheaper and quicker than shipping crude oil through the Suez Canal. One source confirmed that the tanker Latur was currently on its way to Muara, Brunei, carrying Arctic heavy...

Two industry sources say that Russia will cut crude oil exports to its western ports, Primorsk Ust-Luga, and Novorossiisk, to 1.9 million barrels per day in September, down from 2.0 million barrels per day in August, as refinery runs increase in the country. Calculations showed that daily shipments of Urals, KEBCO, and Siberian Light grades will fall by approximately 6% from month to month. As a result of the completion of maintenance work at several Russian refineries, expected in late August or early September, domestic processing is expected to increase and crude exports to decrease. Sources said that delays in...

Fico announced on Monday that the Slovak prime minister Robert Fico would hold bilateral meetings this week with Russian President Vladimir Putin and Chinese President Xi Jinping at China's World War Two Anniversary celebrations in Beijing. In a Friday statement, he announced that he would meet Ukrainian President Volodymyr Zelenskiy in the eastern part of Slovakia. Fico has had tense relationships with Zelenskiy, who is the leader of a NATO member and EU country, but opposes Western sanctions against Russia. Fico has also broken ranks with European Allies. In December, he met Putin in Moscow. Fico is the only European...

Yuri Ushakov, Kremlin's foreign policy adviser, said that Russian state-owned Gazprom would sign an "important agreement" with Chinese company CNPC during President Vladimir Putin’s visit to China next week. He refused to provide details, but said that there would be at least three documents relating to Gazprom. After losing access to European markets due to Western sanctions imposed in response to Russia’s conflict with Ukraine, Russia wants to increase its oil and gas exports into Asia. According to two industry sources, China is looking to purchase more Russian gas via an existing pipeline because talks between the countries on a...

Two industry sources said that the Ust-Luga oil terminal in Russia will only be able to export 350,000 barrels of oil per day, which is about half its normal capacity, due to damage caused by Ukrainian drones on pipeline infrastructure. This disruption shows that recent Ukrainian attacks on key energy facilities have caused Russian exports to be affected and could lead to supply disruptions. Drone strikes in Russia's Bryansk Region earlier in August caused problems at the Unecha pumping stations. Unecha is an important transit point for crude oil heading to Ust-Luga. The Druzhba Pipeline, which supplies Belarus to Slovakia...

Three people with knowledge of the situation said that Russia revised its crude oil export plans from western ports in August by 200,000 barrels a day (bpd). This was due to the fact that Ukrainian drone attacks disrupted the refinery operations, allowing more crude to be shipped. Due to the ongoing strikes and changing repair schedules, delays and volume revisions may be expected, they stated. "Attacks continue and repair deadlines vary daily." One person stated that it is unclear how much Russia will be able to load in this month or the next. The final plans for loading Russian oil...

Denisa Sakova, Slovak Minister of Economy, said that in the best case scenario, Russian oil deliveries to Slovakia via the Druzhba Pipeline, which were interrupted by a Ukrainian attack on Russia last Thursday, could resume as early as Monday. In recent weeks, Russia and Ukraine have intensified their attacks on the energy infrastructure of each other. They have targeted Ukrainian heating supplies as well as Russia's Druzhba Pipeline and other facilities. After a Ukrainian attack on a Russian facility, Slovakia and Hungary announced on Friday that they could suspend their supply of Russian oil for at least five more days....