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Archer, Anduril unveil autonomous aircraft platform for defense, commercial markets
Archer Aviation, a defense technology company and Anduril unveiled on Monday a codeveloped autonomous aircraft platform. Aerospace startups are increasingly relying on partnerships to lower costs and accelerate commercialisation. The platform, which was developed under the?agreement of 2024, is intended for both 'commercial?and'military applications. Anduril unveiled the defense variant called Thunder on Monday at Farnborough Airshow. This is a Group 5 autonomous assault rotorcraft designed to fly with current and next generation crewed attack aircraft. Adam Goldman, CEO of Archer, said that the company chose to build a specific aircraft instead of retrofitting an existing aircraft. "Andruil did a great job identifying needs, and then building ahead to meet those 'needs' before any programs were announced... Goldman stated that they identified a specific need and built an aircraft to meet it. "When you are looking at a large-scale product for the defense sector, it is important that they be designed and built to cater to that specific customer. Archer, known for its electric air taxis and commercial platform, will unveil their commercial variants this week. Electric vertical takeoff-and-landing aircraft developers are looking to expand their services beyond the urban air taxi market. This sector was once hailed as a trillion dollar industry, but certification delays, infrastructure obstacles, and high capital requirements have weighed on it. Shane Arnott is Anduril Industries senior vice president for programs and engineering. Hybrid-electric propulsion is also being used by more air taxi companies to improve their?mission flexibility and extend the range beyond the short?urban hops. They are hoping to reach a wider market and reduce losses. The Archer-Anduril Platform uses a hybrid-electric powertrain with tilt rotors that can 'variate rotor speeds depending on flight conditions. It is capable of supporting missions such as?military strike, cargo movement, distant logistics, and other operations in austere areas, according to the companies. The partnership is a way for Archer to enter the defense and heavy-duty commercial market, while the future of the air-taxi industry looks cloudy. Multiple test flights have been completed using surrogate full-scale aircraft as a way to validate key systems. Thunder's initial flight is scheduled for 2027. Reporting by Shivansh Tiwary in Farnborough and Cassell Bryn-Low, England. Editing by Sharon Singleton.
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Ryanair CEO: Initial investigation suggests foreign object damages in the smashed window accident
Ryanair CEO Michael O'Leary stated on Monday that an initial investigation into the incident where a passenger was partially sucked out of a broken window in a 'Boeing' 737 suggested "foreign objects damage", and not an issue with age or maintenance conditions. According to video footage and the Federal Aviation Administration, the U.S. National Transportation Safety Board has begun an investigation into the incident that occurred on July 10, when a piece of engine broke away from the aircraft, shattered the window, and happened shortly after takeoff. The plane was headed for Germany when it lost pressure. It made an emergency landing. O'Leary said that the initial indications would suggest that a foreign object caused damage to the engine during takeoff from Thessaloniki. However, he could not confirm this. O'Leary stated that the aircraft is 18 years old, and the engine has been overhauled and fully serviced in the last two year. He said that the draft report would be released in 28 days and then a more detailed report. FAA Administrator Bryan Bedford said last week that the incident, which was similar to two Southwest Airlines Boeing 737 NG flight incidents in 2016 and 2018 prompted a reevaluation of?the response?to those incidents. If Boeing and Ryanair can confirm that the damage was caused by an external object, this could reduce their responsibility for the incident. Conor Humphries, Dublin; Alessandro Parodi, Gdansk, and Matt Scuffham edited the article.
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FAA expects certification of Boeing 737 MAX 7, 10, and 15 soon
Federal Aviation Administration officials said Monday that they expect to certify the Boeing 737 MAX 7 or larger 10 in the near future, following an extensive review of variants of this best-selling aircraft. In an interview conducted on the sidelines at the Farnborough Air Show, Deputy FAA Administrator Chris Rocheleau said that the agency is "closer than ever." "I believe the -7 is literally around the corner and the -10 is right behind it," said Chris Rocheleau, Deputy FAA Administrator at the Farnborough Air Show. He said he also expects that the Boeing 777X will be certified after?the MAX planes. "Whether this year or early next year, we let Boeing do the driving when they bring us the correct information and work it out together." Boeing announced last week that it was in the final stages of obtaining regulatory approval for a fix to its 737 MAX engine anti-ice systems. Cirium, an aviation analytics company, reports that Boeing has built 30 MAX 7s already and nine MAX 10s are waiting for delivery. At least 28% (or more) of the outstanding MAX orders are MAX 10. The certification of the MAX 7 and 10, which are years behind schedule, is still a long way off. Boeing faced a stricter certification process after two fatal MAX 8 crash in 2018 and 2019. The company was also scrutinized for its production and quality system following a mid-air panel blowout of a MAX 9 cabin on an Alaska Airlines MAX 9 that occurred in January 2024. FAA Administrator Bryan Bedford said last week that the FAA and Boeing had improved their work in certifying new aircraft. "A lot of our problems in responding quickly to Boeing weren't due to a lack of resources at the FAA. He said that Boeing's constant shifting of priorities was to blame. Bedford stated that the FAA workflows on Boeing certification has increased from 35% to 40%. Bedford stated that "Boeing is much more aware of how we can meet their certification requirements."
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Data shows that RPT-Gulf crude oil exports increased in July, but shipments slowed down due to renewed hostilities.
Shipping data shows that Gulf countries have boosted crude oil and condensate exports to their highest level since the Iran War began late in February. Although the flow through the Strait of Hormuz is now slowing, as fighting escalates. Kpler data showed that crude and condensate imports from Saudi Arabia and the United Arab Emirates increased by about 16 percent from the average daily exports of June to 12 million barrels of oil per day in the first half July. Vortexa estimated that exports for the period were even higher at 13.06 million bpd. Kpler reported that Saudi Arabia, Iran, and Iraq led the increase in the first six months of July. Vortexa estimated Iraq had the largest increase month-on-month, while?UAE exported declined from record levels in June. Oil prices fell as a result of the increase in Gulf exports. This was after U.S.-Iran reached a mid-June interim agreement to reopen Strait of Hormuz, the most important shipping route in the world for oil and natural gas. Early July, disagreements over the administration of the waterway led to the collapse of an interim agreement. Shipping data shows that the number of daily transits through the strait has dropped to three commodity tankers, the lowest since May. Johannes Rauball, Kpler analyst, said: "We are seeing a slowdown in activity. This means that countries have to reduce their output. This will decrease the amount of crude that is shipped. Even after a rebound in exports, they remained 32% below the pre-war high of?17.6m bpd reached in February. Sources told?on?Thursday that Iran has warned Yemen's Houthis they should be ready to disrupt the traffic through the Red Sea in the event the United States attacks Iranian energy infrastructure. This could pose a significant risk to the global oil supply. Saudi Arabia diverted the majority of its energy exports via Yanbu, its Red Sea port. Kpler data shows that 75% of Saudi Arabia's 5.29 million barrels per day (bpd) crude and condensate have been exported through Yanbu so far in July.
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Data shows that Gulf crude exports increased in July, but shipments slowed down due to renewed hostilities.
Shipping data shows that Gulf countries have increased crude oil and condensate exports to their highest level since the Iran War began late in February. However, the flow of oil through the Strait of Hormuz is now slowing down as the fighting intensifies. Kpler data showed that crude and condensate imports from Saudi Arabia and the United Arab Emirates increased by about 16 percent from the average daily exports of June to 12 million barrels of oil per day in the first half July. Vortexa estimated that exports for the period were even higher at 13.06 million bpd. Kpler reported that Saudi Arabia, Iran, and Iraq led the increase in the first six months of July. Vortexa estimated Iraq had the largest increase month-over-month, while UAE exports declined from record levels reached in June. Oil prices fell as a result of the increase in Gulf exports. This was after U.S.-Iran reached a mid-June interim agreement to reopen Strait of Hormuz, the most important shipping route in the world for oil and natural gas. Early July, disagreements over the administration of the waterway led to the collapse of an interim agreement. Shipping data shows that the number of daily transits through the strait has dropped to three commodity tankers, the lowest since May. Johannes Rauball, Kpler analyst, said: "We are seeing a slowdown in activity. This means that countries have to reduce their output. This will decrease the amount of crude that is shipped. Even after a rebound in exports, they remained 32% below the pre-war high of?17.6m bpd reached in February. Sources told?on Friday that Iran has warned Yemen's Houthis they should be ready to disrupt the Red Sea traffic if the United States attacks Iranian energy infrastructure. This could pose a significant risk to the global oil supply. Saudi Arabia diverted the majority of its energy exports via Yanbu, its Red Sea port. Kpler data shows that 75% of Saudi Arabia's 5.29 million barrels per day (bpd) crude and condensate have been exported through Yanbu so far in July.
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Maguire: ROI-America’s power grid chokes on expensive congestion
The congestion on the U.S. electric grid is becoming a costly bottleneck. It drives up power prices, delays new generation projects, and undermines reliability. But the attention of the electricity industry is still largely focused on generation. Politicians debate?solar panel, natural gas turbines, and nuclear reactors, while utilities boast of billions of dollars in planned investments. PJM Interconnection is the largest U.S. electricity market, spanning 13 states. It provides a stark example. According to Gridraven, transmission congestion cost market players $777.8 in June. This was a drop from the?record-breaking $1 billion congestion bill during a heatwave in May, but it remains high. In just two months, the combined congestion charges amounted to $1.8 billion. GROWTH TREND It is the direction of travel, not the headline figure. The direction in which things are going is what's most worrying. In the coming years, congestion costs will likely become a greater burden for electricity producers and consumers if current trends continue. This is important because congestion acts as a tax against economic growth. Grid operators can't just dispatch the cheapest electricity available when transmission lines are overloaded. They are forced to use generators that are more expensive and located nearer to the demand centers. These costs are eventually passed on to customers through wholesale markets. Customers rarely see "congestion surcharges" on their electric bills. But they still pay. The problem becomes more acute as the demand increases at exactly the wrong time. Years ago, the U.S. demand for electricity was virtually flat. This allowed policymakers and utilities alike to put off difficult transmission decisions. This era is over. Construction of data centers is on the rise. The number of manufacturers expanding their domestic production is on the rise. State and utility companies continue to promote electrification in transport and heating. All of these trends are increasing demand for electricity and, more importantly, for the movement of it throughout the country. MISMATCH IN SUPPLY AND DEMAND Even more difficult is the geography of today's electricity system. The cheapest new generation is often located away from the major population centers. In rural areas, wind resources are most abundant. Solar power is often more efficient in areas where there is plenty of land than in places where electricity is consumed. The U.S. needs transmission infrastructure as much as they need generation infrastructure. Transmission development is notoriously slow. Permitting and building new high-voltage lines can take up to a decade. Projects are often delayed by local opposition, disputes over permits and battles about cost allocation. The demand for goods and services is growing, but it does not wait. PJM PAINPOINTS PJM is already experiencing the?consequences. Congestion in June was concentrated primarily in Pennsylvania, Maryland and Northern Virginia. These regions are at the intersection between rising electricity demand and transmission bottlenecks. Northern Virginia has been a major hub for the U.S. Data-center boom. It is clear that the billion-dollar event in May was not an anomaly. It may instead offer a glimpse at what the future of electricity markets will look like. This presents challenges to consumers and power producers alike. Even when the electricity demand is high, generators behind transmission restrictions may not be able to access all lucrative markets. Congestion can reduce revenues, distort signals of investment and reduce the value new generation projects. Many renewable developers are vulnerable, as they are far away from urban demand centers and rely heavily on transmission. DYNAMIC PROSPECTS FOR GROWTH Ironically, America is investing heavily in power generation but failing to make the most of it due to grid bottlenecks. This explains the interest in technologies which can extract more capacity from existing transmission infrastructure. Gridraven estimates Dynamic Line Rate technology could have?increased the available transmission capacity in PJM on average by 13% in June, resulting in savings of approximately $88.3 millions in congestion. The company, which models future transmission capacity using weather forecasts and AI, suggests that the most costly constraint in June was the?Graceton Manor 230-kilovolt Corridor, could have seen costs for congestion reduced by almost $36 million. It is not as important whether these estimates are accurate or not, but rather the message. Because it is so difficult to build new infrastructure, the industry is looking for ways to maximize existing grid capacity. Other firms have also developed hardware to increase capacity on existing transmission lines. These include Linevision which models transmission capacity using sensors and digital twins. These technologies could be helpful. They are unlikely to eliminate the problem completely. It's a sad fact that America's electric ambitions are growing faster then its transmission network. The country is aiming for AI leadership, increased domestic manufacturing, cleaner energie, a wider electrification, and stronger economic growth. Each of these goals will require more electricity to be flowing through the grid. Congestion costs will continue to rise until transmission expansion catches up. If PJM is any guide, then electricity consumers will soon find out that the most costly part of energy transition isn't producing power. It's moving. These are the opinions of the columnist, who is also an author. This column is great! Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn, X and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
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Riyadh Air expands its fleet with 34 Boeing and Airbus widebody aircraft
Riyadh Air, Saudi Arabia's national airline, placed orders for 34 widebody planes with both Boeing and Airbus. The company is accelerating its plans to reach more than 100 destinations before 2030. The airline announced that it would exercise options on 28 Boeing 787 Dreamliners placed in 2023, and convert '20 of these options to the larger 787-10 version. Separately the 'carrier' confirmed the purchase six Airbus A350 1000 aircraft. This confirmed previously held purchase rights, and brought its total confirmed A350 1000 orders to 31 aircraft. The orders are the first announced at the Farnborough Airshow this year. Riyadh Air is ramping up its operations after launching several new routes in June. The airline has taken delivery of six Boeing 787-9 aircraft. Riyadh Air, backed by Saudi Arabia’s “sovereign wealth” fund, is central to Vision 2030’s plan to diversify the economy beyond oil. It also aims to boost tourism and connectivity. The airline has stated that it aims to connect the Saudi capital with more than 100 destinations around the world by the end the decade.
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Chinese rescuers use explosives for clearing boulders that trap landslide victims
Rescue teams in southwest China used explosives to blast through heavy boulders that were blocking their efforts to find 34 people who had been reported as?missing? for three days following a landslide in a natural beauty area. China is one of the most "landslide-prone" countries in the world. Eight people died in the disaster that occurred in Penghui, a county located 270 kilometers (168 miles), away from the urban sprawl of Chongqing. CCTV showed images of a huge boulder being shattered in Monday's blasting operations. The broadcaster added that the mission had entered a "deep-rescue phase", but did not provide any immediate details. The search effort was in response to President Xi Jinping’s?call for scientific rescue operations and a rapid investigation into the landslide's cause. The authorities evacuated over 1,100 people following the landslide. This county is home to approximately 500,000 people, and many of the communities are clinging to steep hillsides hugging the Wujian River. Video clips and photographs showed that a section of the mountainside had collapsed, and was now cascading down into the river. This cut off the main road of this small, hillside village. The official news agency Xinhua reported on Saturday that authorities have sent teams to monitor secondary disasters and investigate hidden geological hazards. Authorities have warned that heavy rains and torrential downpours are expected across several provinces on Monday. They urge people to take extra precautions in areas at high risk due to the abundance of groundwater and construction. CCTV reported on Monday that eight small and medium rivers in Yunnan and Guangxi as well as Anhui, Guangdong and Shanghai were currently above flood alert levels. The intense summer rains, rapid urbanisation, construction and tectonic activities are all factors that contribute to disasters. In China, where mountains, hills, and plateaus cover two-thirds the land mass, these factors can be a major cause of disasters. In the?past decade, at least 5 major, deadly landslides have killed 294 people in total. After the December 2015 collapse of a huge pile of construction debris in an industrial park located in southern tech hub Shenzhen, the worst incident resulted in more than 70 deaths. Reporting by Farah master in Hong Kong, Liz Lee and the Beijing Newsroom. Editing by Clarence Fernandez.
Senegal's US-funded power grid struck by nationwide outage
Senegal was struck by a. nationwide electrical power failure on Thursday following an accident. at a power station in the capital, Senegal's power energy. Senelec said in a declaration.
The U.S. has dedicated over half a billion dollars in current. years to upgrade Senegal's electricity grid as part of a 2018. deal to improve access to reliable power.
The accident at the 90,000-volt Hann station set off a. broader interruption on an interconnection grid, interrupting electrical power. distribution throughout the nation, Senelec said.
It did not provide any additional information about the accident.
Because an extreme power crisis a decade ago that paralyzed. companies and caused violent riots, Senegal has performed. reforms and invested greatly in generation and transmission to. enhance power supply.
In 2018, the U.S. signed an offer to give Senegal $550 million. to improve access to dependable and affordable electrical energy. The. federal government agreed to dedicate $50 million to the $600 million. program.
The outage showed the ongoing power difficulties facing. the West African country. A U.S. embassy spokeswoman in Senegal. did not respond to a request for talk about the blackout.
The energy said in a declaration to Reuters that power was. gradually being brought back to some regions, and parts of the. capital, Dakar.
(source: Reuters)