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Turkish Airlines evacuated after a tyre flame ignited on landing in Kathmandu
Authorities said that a Turkish Airlines tyre caught fire after it landed in Kathmandu on Monday. The airport was closed for one hour. After the fire, all 277 passengers on the Airbus A330, including 11 crew members, were evacuated using the emergency exits. The fire started in the rear right tire of the aircraft. The plane was towed onto the taxiway after the fire was extinguished. "It is grounded," Bhul stated. Turkish Airlines reported that a smoke was detected in the landing gear as it towed and that technical inspections had been conducted. Initial assessments suggest that the smoke was caused by a malfunctioning hydraulic pipe," Yahya Ustun said, senior vice president of communications for the airline, on social media platform X. He added that an additional flight was planned to?return the passengers. (Reporting and writing by Gopal Sharma, Sakshi Dayal, Clarence Fernandez & Jamie Freed).
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British paratroopers drop hantavirus-suspected samples on Tristan da Cunha
British paratroopers dropped medics and supplies on Britain's remotest overseas territory, Tristan da Cunha. This was after a suspected case of hantavirus had been confirmed. Six paratroopers - and two military clinicians - from the 16 Air Assault Brigade jumped 'from a RAF A400M transport plane that flew 6,788km (4,218miles) from RAF Brize Norton in Oxfordshire to Ascension Island. Then another 3,000km due south to Tristan da Cunha. On Saturday, oxygen and other medical supplies were dropped alongside the aircraft. A RAF Voyager refueled the A400M in mid-flight. In a statement, the Ministry of Defence stated that this was the first time UK military personnel have deployed medical 'personnel' to provide humanitarian assistance via parachute jump. Supplies were intended for a British passenger who, according to UK authorities, was on a cruise ship that docked in the island between April 13-15 and was affected by an outbreak of hantavirus. The WHO reported that the man had symptoms consistent with hantavirus and was stable in isolation. The Ministry of Defence said that oxygen supplies were at an all-time low on the island, and an airdrop of medical personnel with vital care was the only way to reach the patient before it was too late. Tristan da Cunha is home to around 200 people and lies halfway between South Africa, South America, and Africa. It's the most remote inhabited island in the world, located more than 2,400km away from its nearest inhabited neighbor, St Helena. The island is usually staffed by a two-person medical team to provide for its needs. It can only be reached by boat, as there is no airstrip. On May 7, a military plane delivered PCR tests to Ascension Island where a British man had debarked from the cruise ship before he was'medically evacuated' to South Africa. "The arrival of parachutists, medical personnel, and medical supplies has hopefully reassured Tristan da Cunha's people," said Brigadier Ed Cartwright. He is the Officer Commanding 16 Air Assault Brigade. (Reporting and editing by Aislinn laing)
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Ministry of Defense: South Korean ship hit by unidentified object in Strait of Hormuz on May 4, says
After a Friday inspection, the Foreign Ministry announced on Sunday that the stern of a South Korean shipper's bulk carrier, HMM, was struck by an unidentified object while it was stranded on the Strait of Hormuz on May 4. Seoul reported an explosion and fire on the same vessel, the HMM Namu, in the strait while it was anchored near the United Arab Emirates. The incident did not cause any injuries. U.S. president Donald Trump stated at the time that an Iranian attack was responsible for the incident. Seoul investigated the incident and the vessel, which was damaged by fire on Monday, was towed into a port in Dubai. The ministry stated that it was unclear what the object was and that debris would be collected to analyze. Trump asked South Korea to join a U.S. led effort, currently suspended, dubbed "Project Freedom" to ensure shipping through the Strait after?the incident. The Iranian embassy in South Korea denied responsibility for this attack. The embassy did not respond immediately to a request made outside of normal working hours for comment on the object. A spokesperson for the HMM declined to comment on this statement. Reporting by Heejin KIM Editing by Bernadette BAUCH
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Swiss Air CEO says no immediate fuel shortage, eyes contingency plans
Swiss International Air Lines' CEO said in the NZZ on Saturday that the airline has enough jet fuel to last for the next six weeks. However, the company is exploring contingencies such as "tankering", amid industry warnings of fuel shortages linked to the Iran War. The newspaper Neue Zurcher Nachricht quoted SWISS CEO Jens Fehlinger as saying that "the current forecasts of our suppliers, oil companies and refineries, are good." European airlines are warning of possible jet?fuel shortages in the coming weeks due to the U.S. - Iran conflict, which has caused energy prices to soar and curtailed'supply. "If there were to be a kerosene shortage, it would be first seen in Africa and?Asia. He told NZZ that he saw no evidence of this at the moment. The outlook is stable. However, Fehlinger stated that the airline, along with its parent company, Lufthansa Group were working on contingency planning, including "tankering," which involves filling up aircraft to capacity at a location where fuel supplies are plentiful, and then bringing additional fuel back to Zurich. Fehlinger said that such practices are currently prohibited by regulation, but there may be discussions with policymakers about reopening the possibility. He said that another option would be to strategically refuel at airports with good infrastructure along flight routes. For example, in Vienna, for flights from Europe to Asia. According to Fehlinger, the high oil prices will likely affect fares in time. SWISS has protected itself against recent fuel market volatility by hedging 80% of its kerosene requirements for the year. This will limit the immediate impact of increasing prices. He said that the airline had only seen a 20% rise in fuel costs.
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Tenerife welcomes a cruise ship affected by the hantavirus epidemic
The cruise ship that was hit by the deadly hantavirus epidemic arrived early on Sunday morning near Granadilla Port in Tenerife. The cruise ship will anchor near the Port of Granadilla in Tenerife for the evacuation and re-boarding of passengers. According to Spanish officials, the passengers will be tested to make sure they are asymptomatic by Spanish health authorities. They will then be transported on small boats to land. The passengers will be transported by sealed-off buses to the main airport of the Spanish island, which is about 10 minutes away. From there they will board their planes to fly to their respective countries. As a precaution, all passengers aboard the luxury cruise ship MV Hondius were deemed high-risk contacts by Europe's Public Health Agency late on Saturday. According to Spanish authorities, the evacuation will begin between 7:30 a.m. and?8.30 a.m. (06300-0700 GMT). Government officials announced on Saturday that Spanish nationals will disembark in groups first, followed by other nationalities. The ship will sail to Holland where it will be disinfected. Cape Verde's coast was the first port of call for the ship, which left on Wednesday to head towards Spain after World Health Organization and the European Union requested that the country?manage evacuation of passengers following the detection of the hantavirus. The WHO Director-General Tedros Adhanom Ghebreyesus, along with Spain's Interior and Health Ministers, and its Minister for Territorial?Policy, arrived in Tenerife on Saturday evening to coordinate the arrival of a ship. The WHO announced on Friday that 8 people were sick, three of whom died - a Dutch family and a German citizen. The WHO said that six of these people have been confirmed as having contracted the virus. Two other cases are suspected, it added. Hantavirus is usually transmitted by rodents, but can be transmitted from person to person in rare instances. WHO says the risk is low for the global population, but moderate for passengers and crew aboard the ship. Reporting by Corina Poons and Victoria Waldersee, Editing by Philippa Fletchcher
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Qatari LNG tanker sailing towards Hormuz Strait, shipping data shows
According to LSEG shipping information, the Qatari 'LNG tanker Al Kharaitiyat sailed towards?the Strait?of?Hormuz after departing Qatar Ras Laffan enroute to Port Qasim Pakistan on?Saturday?. If the passage is successful, it will be the first time a Qatari LNG-tanker has transited the Strait since the beginning of the war against Iran. QatarEnergy has not yet responded to the?comment. According to LSEG, the vessel is managed by Nakilat Shipping Qatar Ltd, and sails?under Marshall Islands flag. It has a cargo capacity of 211,986 cu m. Sources at the time said that Iran's Revolutionary Guards stopped two Qatar LNG tanks, Al Daayen, and Rasheeda on April 6, and told them to remain in their positions without any explanation. Qatar is the second largest LNG exporter in the world, with most of its shipments going to Asian buyers. The 'Iranian attack' knocked down 17% of Qatar LNG export capacity. Repairs are expected to take three - five years. Reporting by Andrew Mills and Timour Azhari, Writing by Eman Aboushassira, Editing by Alexandra Hudson
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Airport says that a Frontier Jet hit and killed a pedestrian on the runway in Denver while taking off.
The airport released a statement on May 9, stating that a Frontier Airlines passenger plane struck and killed a pedestrian?on the runway?at Denver International Airport?during a planned takeoff to Los Angeles late Friday night. Frontier reported that it had struck a person during takeoff, and the flight was abandoned. The unidentified pedestrian had jumped over the perimeter fence and was struck just two minutes after crossing the runway. The?statement' said that the individual was not believed to be a member of staff at the airport. A brief engine fire caused smoke to fill the cabin of an Airbus A321 carrying 224 passengers, seven crew members and all were safely evacuated. The airport reported that 12 people had minor injuries, and five of them were taken to hospitals in the area. Frontier stated that it was investigating the incident, and gathering additional information in coordination with airport authorities and other safety?authorities. It said that the airport had closed the runway where the incident took place and expected to reopen it within a few hours. They also added that they had 'examined and found intact the fence line which the individual crossed. Sean Duffy, the U.S. Transport secretary, said that local?law enforcers are investigating the occurrence with the support of the U.S. Federal Aviation Administration (FAA) and the Transportation Security Administration. Reporting by Shivani Tana, Preetika Parshuraman and Gursimran K. in Bengaluru. Editing by Aidan Lewis & Toby Chopra.
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UK warships deployed to Middle East in anticipation of possible Hormuz missions
Britain announced on Saturday that it would be sending its warship HMS Dragon, to the Middle East to prepare for a possible multinational 'effort to protect shipping through the Strait of Hormuz once conditions permit. HMS Dragon was an air defence destroyer that was sent to Eastern Mediterranean in March shortly after the Iran War to defend Cyprus. The move to the Middle East comes after France deployed its carrier strike group in the southern Red Sea as part of a joint defensive plan to restore confidence in the trade routes. A spokesperson from the British Ministry of Defence stated that "the?prepositioning of HMS Dragon" is part of "prudent planning". This will ensure the UK's readiness to join a multinational coalition led by France and the UK, in order to secure the Strait when the conditions permit. France and Britain are preparing a plan to ensure a safe transit through the Strait when the U.S. and Iran reach a possible end of their 10-week-old war. Plan would require coordination with Iran, and?adozen countries have expressed a willingness to?take part. The Royal 'Navy is stretched and has to retire ships before they are replaced. (Reporting and editing by Alexandra Hudson.)
Andy Home: The fallout from the war in Iran spreads to copper, nickel and other metals
The Iran war caused turmoil on the global aluminum market, but the impact is now spreading to the copper and nickel supply chain.
The conduit is sulfur - a byproduct of the Gulf oil and gas industry that has been trapped since the Strait of Hormuz shut on February 28. According to the U.S. Geological Survey, this region is responsible for a quarter or more of global oil and gas production.
Sulfuric acid is a key input for ?copper miners using solvent-extraction technology on oxide ores and for nickel production from high-pressure-acid-leach (HPAL) ?plants.
Unfortunately, sulfur is used in fertilizers. This sector accounts for two-thirds or more of the global demand, and it's one that governments prioritize over all else.
China, which is the largest producer of sulfuric acid in the world, will begin to ban exports next month. According to Argus media, Turkey has already banned exports, and India may do the same.
As a result, the sulfur shortage is intensifying and prices are rising to new records.
A MULTI-DIMENSIONAL COPER THREAT
According to the International Copper Study Group, around a fifth (25%) of primary refined copper is produced by solvent extraction and electrowinning operations. These use sulfuric acid, a leaching agent, as a leaching reagent.
The Democratic Republic of Congo has a?specially high level of exposure. The SX-EW process accounts for about half of the copper produced in the second largest producer of the world. This country imports most of its sulfur from the Gulf.
As import prices rise, some shipments have been cancelled. Miners are already reducing consumption in order to conserve?chemical stock.
China's ban on exports could cause similar problems for Chilean producers. Morgan Stanley reports that Chile produces around 1.125 metric tons copper using the SX-EW method and depends on China for about 20% of its sulfuric acid needs.
Leaching is a slow process, so there will be some time before production rates are affected. Chile produces its own sulfuric acids as a result of copper smelting. This provides some protection against disruptions in imports.
This?cushion', however, could be a problem in China.
Copper smelters in the country are increasingly dependent on sulfuric acids as a source of revenue. The treatment charges for converting concentrate into refined metal are at historical lows, and even trading at negative figures. This has thrown conventional smelter economics to the wind.
The export ban will likely stall, or even reverse, the rise in sulfur prices domestically.
This is good news for the agricultural sector, but bad news for copper smelters. Some of them are expected to reduce production or undergo maintenance in the coming weeks and months.
INDONESIAN Nickel Producers
Indonesia, which is the largest nickel producer in the world, imports around 75% its sulfur requirements from the Middle East. The country also imports sulfuric acids from China.
Morgan Stanley estimates that the HPAL production requires 25-30 tons of acid (equivalent to 10 tons sulfur) to produce one ton mixed hydroxide precipitate (MHP), a product intermediate containing nickel and cobalt.
Macquarie estimates that MHP production was at around?450,000 tonnes last year, and is expected to increase by another 100,000 tons in 2019 as new projects ramp-up.
Nickel production will be affected faster by the sulfur-squeeze than the copper market. Indonesian producers are reducing production rates because stocks are already low.
COST IMPACT
The impact of the sulfur squeeze on nickel and copper production is yet to be seen. The impact on production costs, however, is more certain.
Macquarie estimates the increase in sulfur prices since the beginning of the year added $4,000 to the Indonesian HPAL nickel costs. The cost curve has risen to $14,500 to 18,000 per tonne.
This is what explains the sharp increase in nickel prices on the London Metal Exchange, which reached an 11-week peak of $18,655 a ton this week.
Natixis calculates, on the other hand, that sulfur costs Congo's SXEW copper producers 20% of their cash production costs. According to the bank, every $100 increase in sulfur price is equivalent to a 4% increase in cash costs.
These numbers have now helped feed into copper's bull story, lifting the LME 3-month price above $13,000 per ton for the first time since a month.
It is clear that much depends now on whether or not the just-announced ceasefire of 10 days leads to a lasting deal of peace and the full reopening of Strait of Hormuz.
Copper and nickel producers would still be in competition with agriculture for sulfur. In this particular race, there's only one winner.
Andy Home is a columnist at. This column is great! Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn 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 seven days a weeks.
(source: Reuters)