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Fincantieri's new five-year plan targets a 40% increase in revenue by 2030
Italian shipbuilder Fincantieri set on Tuesday a goal of a 40% increase in revenues and a near-doubling?of core profit in its new five year plan. It also expanded?to?the defence business and underwater business while maintaining its leadership in cruise ships. The 2026-2030 Strategy, also known as "F4 Fast forward Further Future", is expected to be revealed in the first few months of the next year. It forecasts new orders of more than 50 billion Euros ($58.79billion), primarily?in defence. In a press release, Chief Executive Officer Pierroberto?Folgiero stated that "with this plan, we are entering a new stage of growth.?We strengthen production capacity, improve competitiveness, and remain focused on our core business, and operational efficiency." The group is expecting revenues to increase to 12.5 billion euro in 2030 from 9 billion euro in 2025. Earnings before Interest, Taxes, Depreciation, and Amortisation (EBITDA), are expected to rise by 90% to 1.25 million euros at the end five years. Profit margins of 4% or more were predicted for 2030. The state-controlled company said that it would invest in its Italian shipsyards to?double production capacity for the defense segment and reduce delivery time, to meet increasing domestic and international demands. The company stated that it expects new orders for defence from Italy and the United States by?2026. The company's underwater unit was formed at the start of the year and is expected to benefit from a market that will?double in 2026-2030, to 43 billion Euros, due to?traditional products, as well as a new demand for defense systems and solutions to deal with hybrid threats. Fincantieri stated that its traditional cruise sector will be supported by an average growth rate of 4.5% per year in passengers. It said that the company has already 34 units in its fleet and delivery schedules up to 2036. The exchange rate is $1 = 0.8506 euro. (Reporting and editing by Alvise Armllini, Ros Russell).
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Final report on the 1994 Estonian ferry disaster shows that bow failure was responsible for the tragedy.
Authorities said that the failure of the 'bow section' of the Estonia ferry was the cause of its sinking in 1994, and not an explosion or collision, as some claimed. Investigators from Estonia, Sweden and Finland said that the MV Estonia sank due to the collapse of bow construction. "There's no need to launch a full-scale... investigation into the accident," said Estonian, Swedish and Finnish investigators. The roll-on/roll-off ferry, which was a roll-on/roll-off, sank during a storm in the Baltic Sea on the night of the 28th of September 1994. 852 people lost their lives. A 1997 official investigation concluded that the bow shield of the ferry had failed, causing flooding and sending the vessel to its bottom. Alternative theories continue to thrive. In 2020, a video clip from a TV documentary revealed previously unseen holes on the ship's hull. This prompted authorities to re-examine the wreck. The report concluded that rocks at the seabed caused the damage to hull. It was based on six different examinations of wreck site, interviews with the survivors, modelling, and technical analysis. Investigators stated that "the inspections did not reveal any evidence" that the MV Estonia had collided with a vessel or object on its 'journey. "Nor is there any sign that an explosion took place on the ship." In 2023, a preliminary report blamed the rocks for the holes. The report also concluded that it was not seaworthy when the ferry made its final trip.
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Dassault Aviation CEO uncertain if FCAS Fighter will proceed
The head of Dassault Aviation raised doubts on Tuesday over ?the ?future of a troubled Franco-German-Spanish fighter programme, saying it partly depended on whether Germany was willing to rethink its reliance on U.S. arms imports. "Will it ever happen?" "I don't know," Eric Trappier, CEO of Trappier International, told a corporate security conference. He reiterated calls for a clearer leadership in the core fighter component, which also includes drones, and combat connectivity, of the Future Combat Air System. Trappier said: "Nobody's ever talked to me about two planes." When asked about reports that France, Germany and Airbus could build two jets to bridge the differences between Dassault & Airbus regarding plans for a single system, Trappier replied: The FCAS 100 billion-euro ($116-billion) programme is mired in disputes over technology and workshare between the two major industrial partners. After the failure of defence ministers to resolve their differences last week over industrial control, it is expected that German Chancellor Friedrich Merz will discuss with French President Emmanuel Macron this week about the fate and future of FCAS (SCAF in French) Trappier, in a speech to officials from the corporate world and public safety, recalled Dassault’s pivotal role in France’s independent defense. He welcomed European Union's efforts to strengthen defence, but added that "Europe isn't a nation" and the task of protecting the continent was primarily with its nations. "Do France? Germany? And Spain? Share a complete willingness to defend Europe?" I believe they do. He told the CDSE conference that "the way this is done is more complex". Trappier has criticized Germany for selecting U.S. F35 fighters to fill a NATO Nuclear-Sharing?role. He said that one question mark about FCAS is: "Is Germany prepared to set aside its transatlantic relationships in defence matters?" Dassault said that it wants to reestablish a clear control over the core fighter component of FCAS while leaving Airbus to manage other pillars, such as combat drones. Trappier said at the conference: "I ask for leadership based on the capabilities of the Dassault Company." "I'm not against cooperation but it must be effective co-operation", said Trappier. Airbus accused Dassault on Monday of trying to undermine existing agreements on FCAS governance, as the parties attempt to reach an agreement on the next phase of the program, a flyable demonstration aircraft. Reporting by Florence Loeve, Tim Hepher and Mark Potter. Editing by Mark Potter.
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ROI-Global coal exports post rare decline in 2025 on China cuts: Maguire
The first decline in global thermal coal shipments - used in power plants - has been recorded since 2020, due to lower coal-fired electricity generation in major Asian markets. Data from commodities intelligence company Kpler show that total?seaborne?exports of so-called Steam coal will be around 945 million metric tonnes in 2025. This represents a 5% drop or about?50million ton from 2024. The main reason for the decline was a 7% decrease in imports from countries in Asia, the top coal-consuming region. This suggests that the global export volume of coal may have reached its peak and continue to shrink. ASIAN DOMINANCE The concentration of coal shipments is evident in the fact that 89% all thermal coal imported for this year came from Asia. The total imports of thermal coal fell by 7%, or 60 million tons from the 2024 figures. China was this year's top coal importer, with a total of 305 million tonnes. India (157 millions tons), Japan (100,00 tons), South Korea (76,000 tons), and Vietnam (45 tons) were all close behind. Only two of the five largest coal-importing markets, South Korea and Vietnam, saw an increase in their imports for the year. This shows the depressed tone of the coal market, even in the region that consumes the most coal. While other countries such as?Malaysia and Thailand, and Turkey, have also seen an increase in their coal imports year over year, China and India remain the two main drivers of global coal import trends. CHINA AND INDIA IN FOCUS China and India, the two largest thermal coal importers, accounted for 48 percent of all thermal imports. Both countries registered a contraction in imports this year as a result of heightened domestic coal production combined with increased power supply from other sources. China's thermal imports dropped by 12%, or almost 43 million tons in 2025 compared to the previous year. This equates to 305 millions tons. India's thermal imports fell by 3%, or 4.3 million tonnes to 157 million. China and India both have government policies that encourage domestic coal production. This generates jobs, but they also face the danger of an overproduction of low grade coal that increases pollution levels when it is burned. China's ongoing war against overcapacity will likely lead to a shrinkage of domestic coal production in the coming years, which in turn could limit further declines in coal imports in the near-to-medium term. China's rapid rollouts of clean energy - including record deployments of solar and nuclear power - are expected to continue to shrink coal's share in the domestic power mix. Data from the energy think tank Ember show that coal's share in China's electricity production has dropped to a new record low of just 55.3% in 2025. This is down from 59% in 2024. In India, the combination of record coal production in India and declining coal consumption in electricity generation has resulted in a rare issuance for coal export permits. These export permits are likely to increase competition between exporters in early 2026. They could also become more common if mine production increases continue to be maintained while the domestic demand for coal to generate electricity continues to decline. In 2025, coal has produced just over 70% of India's electric power. This compares to a share of more than 77% in the last two years. The rapid roll-out of solar and wind farms in India, along with the highest hydro dam generation in more than six year's time has led to coal's loss as India's largest generator. Further coal cuts could be made in India, both for the coal share of the mix of generation and the total coal consumption. This could lead to India exporting even more coal in the near future, which would reduce the profits of other coal exporters like Indonesia and Australia. Over time, any sustained decline in coal consumption in China, India, and other former major coal consumers, will likely result in a steady shrinkage of coal export volumes, and a wider contraction of the coal industry. These are the opinions of a columnist who writes for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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Marsa Maroc, the Moroccan port operator, will buy 45% of Boluda Maritime Terminals
Marsa Maroc, Morocco's largest port operator, announced a deal on Tuesday to purchase a 45% stake in Spain's Boluda Maritime Terminals, a subsidiary of Boluda Corporacion Maritima, for 80 million euro ($94.01million). The company stated that the deal was?approved by Marsa Maroc’s board and is subject to regulatory approval. BMT will handle more than one million?containers by 2024, through its nine terminals located in mainland Spain and Canary Islands. It added that the acquisition would allow Marsa Maroc International Logistics, the group's expansion on the international front, to strengthen their?positioning along the Spain-Morocco Corridor. Marsa Maroc operates 25 terminals in 11 ports. Earlier this year, the company announced plans to expand in West and East Africa. This includes a pair of terminals in Cotonou Port in Benin as well as an oil and gas terminal in Damerjoud Port in Djibouti.
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Philippines confirms the visit of alleged Bondi Gunmen amid terror concerns
The Philippines Bureau of Immigration announced on Tuesday that the two alleged gunmen who carried out the mass shooting at Sydney's Bondi Beach travelled from Sydney to Manila on?November 1, aboard Philippine Airlines Flight PR212 and then onwards to Davao. According to a spokesperson from the bureau, Sajid Akram (50), an Indian national who lives in Australia, travelled with an Indian passport while his son Naveed, 24, an Australian, travelled with an Australian passport. Both passengers arrived on the same flight. On November 28, they flew back to Sydney via Manila on the same flight number PR212. This was weeks before the attack that killed 15 people. The investigation is looking at the attack as a terrorist act targeting Australia's Jewish community. It wasn't immediately clear what they did in the Philippines, or if they went elsewhere after landing in Davao. Mindanao is a city located in a region that has been a haven for terrorist groups including ISIS linked factions. In 2017, militants inspired by Islamic State seized part of the southern city of Marawi, and held it for five months through ground offensives and air attacks. Marawi's siege, the biggest battle in the country?since World War Two?, forced 350,000 people to leave their homes and more than 1,100 were killed, most of them militants. The Armed Forces are validating these reports. However, their spokesperson stated in a press release that the military closely coordinates with the relevant agencies regarding matters involving foreign nationals' movements and possible terrorist connections.
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ROI-Global coal exports post rare decline in 2025 on China cuts: Maguire
The first decline in global thermal coal shipments - used in power plants - has been recorded since 2020, due to lower coal-fired electricity generation in major Asian markets. Data from commodities intelligence firm Kpler indicates that total seaborne exports for so-called steam coal are expected to be 945 million tons in 2025. This represents a drop of 5%, or about 50 million tons, from 2024. The main driver of the decline was a 7% decrease in imports from countries in Asia, the region that consumes the most coal. This suggests that the global export volume of coal may have reached its peak and continue to contract. ASIAN DOMINANCE The concentration of coal shipments is evident in the fact that 89% all thermal coal imported for this year came from Asia. The total imports of thermal coal fell by 7%, or 60 million tons from the 2024 figures. China ranked as the largest coal importer in this year's figures, with a total of 305 million metric tons. India was second (157 million metric tons), followed by Japan (100 metric tons), South Korea 76 million tonne and Vietnam 45 tonne. Only two of the five biggest coal import markets, South Korea and Vietnam, posted an increase in annual imports. This highlights the depressed tone of coal demand, even in the region that consumes the most coal. While other countries such as Malaysia, Thailand, and Turkey have also seen an increase in their coal imports over the past year, China and India remain the two main drivers of global coal import trends. CHINA AND INDIA IN FOCUS China and India, the two largest thermal coal importers, accounted for 48% of total thermal coal imports. Both countries registered a contraction in imports this year as a result of combining increased domestic coal production with greater power supply from other sources. China's thermal imports dropped by 12%, or almost 43 million tons in 2025 from the previous year. This is a drop of 305 million tonnes. India's thermal imports fell by 3%, or 4.3 million tonnes to 157 million. China and India both have policies that support coal production at home, creating jobs. However, both countries also face the danger of an overproduction of low grade coal, which increases pollution when burned. China's ongoing war against overcapacity will likely lead to a shrinkage of domestic coal production in the coming years, which in turn could limit further declines in coal imports in the near-to-medium term. China's rapid rollouts of clean energy - including record deployments of solar and nuclear power - are expected to continue to shrink coal's share in the domestic power mix. Data from the energy think tank Ember show that coal's share in China's electricity production has dropped to a new record low of just 55.3% in 2025. This is down from 59% in 2014, and nearly 60% in 2013. In India, the combination of record coal production in India and declining coal consumption in electricity generation has resulted in a rare issuance for coal export permits. These export permits are likely to increase competition between exporters in early 2026. They could also become more frequent if the mine output increases continue to be sustained, while the domestic coal use for electricity production continues to decline. In 2025, coal will generate just under 70% (compared to 77% in the last two years) of India's total electricity. The rapid rollout of solar and wind farms in India, along with the highest hydro dam generation for more than six years, has led to coal's loss as India's largest generator. Further coal cuts could be made in India, both for the coal share and the total amount of coal used. This could lead to India exporting even more coal in the near future, which would reduce the profits of other 'coal exporters' such as Indonesia and Australia. Over time, any sustained decline in coal consumption in China, India, and other former major coal consumers, will likely result in a steady shrinkage of coal export volumes, and a wider contraction of the coal industry. These are the opinions of a columnist who writes for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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Philippines confirms the visit of alleged Bondi Gunmen amid terror concerns
The Philippines Bureau of Immigration announced on Tuesday that two alleged gunmen responsible for the?massive shooting at Sydney Bondi Beach travelled on Philippine Airlines Flight PR212?from Sydney, to Manila, and then to Davao on November 1. According to a spokesperson from the bureau, Sajid Akram (50), an Indian citizen and Australian resident, travelled with an Indian passport while his son Naveed,?24 an Australian, used an Australian one. Both passengers arrived on the same flight. On November 28, they flew back from Sydney via Manila on the same flight, PR212. This was just weeks before the attack that left 15 dead. The shooting?on Sunday is Australia's deadliest mass shooting in?nearly?30 years. It is being investigated as a terrorist act targeting the Jewish Community. It wasn't immediately clear what they did in the Philippines, or if they went elsewhere after landing in Davao. Mindanao is a city located in a region that has been a haven for?terrorists groups, including ISIS linked factions. In 2017, militants inspired by Islamic State seized part of the southern city of Marawi, and held it for five months through ground offensives and air strikes. Marawi's siege, the biggest battle in the country since World War Two, has displaced 350,000 residents. More than 1,100 people, mostly militants, have been killed. The Armed Forces of the Philippines are?validating the reported information, but its spokesperson stated in a press release that the military closely coordinates with relevant agencies regarding matters involving the movement of foreign nationals or potential terrorist links.
Cold winds sweep Beijing, closing key sites, disrupting travel
China's capital, Beijing, hunkered in on Saturday after rare typhoons-like gales hit northern regions. The storms forced the closure of historical sites and disrupted travel. They also brought late snowfalls as well as hailstone showers to some areas.
Wind gusts shook windows and cars, driven by a cold front from Mongolia. The vortex dropped temperatures by more than 12 degrees Celsius.
The official Xinhua News Agency said that the winds will continue to blow over the weekend with gusts up to 150 kph. The winds brought hailstones to southern China and late snowfalls to Inner Mongolia.
Beijing has issued its second highest gale warning this weekend for the first decade. It warned 22 million residents not to travel unless it was absolutely necessary, as the winds could break records from 1951.
Flight Master, an app that tracks flights, showed 838 cancellations at the two main airports in the capital by 11.30 am. Historic sites and parks had also been closed, and some trees were trimmed to prepare for the cold.
Winds forced the cancellation of a half marathon scheduled for Sunday, which featured humanoid robotics competing against humans to show off China's technological advancements.
Xinhua, CCTV and other state media reported that sandstorms ravaging a stretch of road from Inner Mongolia up to the Yangtze River region had crippled travel in eight provinces.
The spring winds that bring sand from Mongolia can be extreme, but climate changes have made them more frequent. Reporting Liam Mo in Beijing, writing by Greg Torode from Hong Kong and editing by Clarence Fernandez.
(source: Reuters)