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Asia
Sources claim that PetroChina and Indian Oil failed to secure tankers for loading Iraqi crude.
PetroChina and Indian Oil Corp have failed to secure very large carriers?to transport Iraqi Basrah oil in late June. Company and shipping sources confirmed this on Thursday. Another Chinese major Sinochem, meanwhile, is 'on the hunt' for a tanker. The Chinese state-owned energy firms have made inquiries this week following an interim agreement between the United States of America and Iran, which ended their war and opened the Strait of Hormuz – a crucial waterway for Middle East oil supplies. Two shipping sources confirmed that PetroChina was looking for a VLCC ship to load oil from Iraq's Basrah Oil Terminal
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Oil Pipeline
Birol, IEA's Birol, says the Strait of Hormuz should be reopened without conditions
Fatih Birol, the head of the International Energy Agency (IEA), welcomed on?Thursday the interim agreement that ended the?Iran War and?called for a reopening without conditions of the?Strait?of Hormuz. Birol said that several countries are reviewing their energy policies, as it is clear that the waterway may be closed again. Iran has already shut down the waterway during the war. Birol, speaking at an Istanbul event, said that the IEA would discuss new strategies with a number of countries, as the energy crisis has redrawn global maps. He added that "trust" was crucial in the global markets for energy, where prices
Passenger Transportation Services
Passenger Transportation Services
CNBC reports that JetBlue will reduce its Newark and LaGuardia services.
JetBlue Airways will close its 'flight attendant' base in New Jersey's Newark Liberty International Airport, as well as its 'tech operations' bases at the airport and LaGuardia Airport in New York this fall. CNBC reported. The report said that the move was part of an effort to reduce costs and improve service at Florida's Fort Lauderdale airport. JetBlue is a major carrier in the area, which is a lucrative hub. According to the company's annual report, JetBlue had a 13% market share for airline seats in?five airports of the New York metropolitan area, including Newark, LaGuardia, and JFK. According to...
Passenger Transportation Services
Qantas chooses London as the first non-stop flight to break Qantas' record
Qantas Airways announced on Wednesday that?London was the first destination of the world's largest direct commercial flight. The trip is roughly 20 hours from Sydney, eliminating the?traditional halt on the "Kangaroo Route". Vanessa Hudson, the CEO of Australian carrier, told an audience in Toulouse, France that they plan to start selling tickets by February, and launch flights in October 2027. The airline is part of "Project Sunrise", which will serve New York in the future using modified Airbus A350 1000ULR jets that can fly up to 22-hours with 238 passengers aboard. The announcement is part a fleet revamp that began...
Passenger Transportation Services
There are some flights to the Middle East that have resumed but there is still disruption.
Some airlines have resumed flights to certain parts of the Middle East, as diplomatic efforts to resolve the conflict that followed the U.S.-Israeli strikes on Iran gain momentum. However, many carriers continue to suspend flights, causing global travel disruptions. The following is a list of the current status of flights by alphabetical order. AEGEAN AIRLINES Thessaloniki-Tel Aviv flights were cancelled by Greece's largest airline until June 26. Dubai flights are cancelled until August 31. Erbil and Baghdad flights until September 30. AIRBALTIC AirBaltic, a Latvian airline, has canceled flights to Tel Aviv and Dubai until the 28th of June. AIR...
Passenger Transportation Services
Australia relaxes travel advice for the Gulf to boost Middle Eastern airlines
Australia relaxed its travel advice on Wednesday for a number of?Middle?Eastern nations, allowing Australians the freedom to transit and travel through the largest Gulf air hubs while being insured. Penny Wong, Foreign Minister, said that the "do-not-travel" warning for the United Arab Emirates (UAE), Qatar, Bahrain and Israel, had been removed after the U.S. reached an interim agreement with Iran to end the war. She stated that the advisory has moved to "reconsider the need to travel" in these countries as the security situation can still rapidly deteriorate with little notice. Gulf airlines will benefit from the removal of "do...
Passenger Transportation Services
Qantas announces first route for ultra long-haul Project Sunrise flights
Qantas Airways will announce the first destination on Wednesday for the longest non-stop flight in the world?from east Australia to London or New York. This is a major breakthrough after years of delays. Since 2017, "Project Sunrise", a plan to offer direct flights on modified Airbus long haul jets to London hubs in the Middle East and Asia, has been under development. It is expected to be operational by the end next year. It is hoped to reduce the five-day journey on the "Kangaroo Route", which used to take place from Sydney to London, to a maximum of 22 hours...
Passenger Transportation Services
There are some flights to the Middle East that have resumed but there is still disruption.
Despite the fact that most of the suspensions remain in place after the U.S. and Israeli strikes against?Iran, which disrupted global travel in February. The following is a list of the current status of flights by alphabetical order. AEGEAN AIRLINES Thessaloniki-Tel Aviv flights were cancelled by Greece's biggest carrier until June 26. Dubai flights are canceled until August 31. Erbil and Baghdad flights will be canceled until September 30. AIRBALTIC AirBaltic, a Latvian airline, has cancelled all flights to Dubai and Tel 'Aviv until June 28. AIR CANADA Canadian Airlines has cancelled all flights to Tel Aviv, Dubai and Abu...
Passenger Transportation Services
Norwegian Air will buy Nordic Leisure Travel Group at $843 Million
Norwegian Air, a budget airline, announced on Tuesday that it has agreed to?buy the package holiday company Nordic Leisure Travel Group. The deal is worth around 8.94 billion Swedish crowns (US$842.90m) in cash and stocks. Norwegian stated that the 'deal', which includes tour operator and hotel brand names, would create a Nordic Travel Group serving 'roughly 30 millions customers annually. Revenues will increase by close to 50%, and earnings will be accretive starting in 2027. Norwegian Air CEO Geir Carlsen stated in a press release that "we?see an opportunity to grow our hotel and holiday sales amongst our existing customers."...
Passenger Transportation Services
US closes investigation into 2024 Delta Air Lines melting down sparked by CrowdStrike failure
The Trump?administration announced on Monday that it had?closed?an?investigation, without seeking penalties, into a July 20, 2024 meltdown of Delta Air Lines sparked a global outage which disrupted the plans of 1.3 millions customers and cost $500 million to the carrier. Biden's administration launched an investigation into Delta after the CrowdStrike computer software outage. Other major carriers had been able to quickly resume normal operations. The U.S. Transportation Department spokeswoman said that the review revealed "Delta passengers received prompt refunds and adequate baggage assistance as well as appropriate?assistance to passengers with disabilities." USDOT, under President Donald Trump's administration, has rolled back...
Passenger Transportation Services
There are some flights to the Middle East that have resumed but there is still disruption.
Some airlines have begun to restore some flights in the Middle East, although many suspensions remain in place following the U.S. and Israeli?strikes against Iran in February that disrupted global travel. Here is a list of the current status of airline flights in alphabetical order. AEGEAN AIRLINES Thessaloniki-Tel Aviv flights were cancelled by Greece's biggest carrier until 26 June. Dubai flights are cancelled through August 31. Erbil, Baghdad and Erbil flights will be cancelled until September 30. AIRBALTIC AirBaltic, a Latvian airline, has canceled flights to Tel Aviv and Dubai until the 28th of June. AIR CANADA Canadian Airlines has...
Passenger Transportation Services
Airbus CEO criticises European regulatory costs when it opens new line
Airbus' head urged France and the European Union to tackle high regulatory and other costs that are weighing businesses down. He also said the issue of competitiveness needs to be addressed at the French presidential elections next year. Speaking to French politicians, including the transport minister of the country, at the opening of a new assembly in Toulouse in the south of France CEO?Guillaume Faury cited labour and energy costs. He called the cost?of European regulatory obstacles "absolutely horrendous". Faury spoke at the opening of a new assembly?line for the A321neo, the most popular narrowbody model. Airbus is aiming to...
Passenger Transportation Services
El Al Airlines of Israel signs an internet deal with El Musk's Starlink
El Al Israel Airlines announced on Monday that it had?signed a contract with Elon Musk’s Starlink?to provide high-speed Internet across its entire fleet from next year. The financial details of the agreement were not revealed. Israel's flag-carrier said SpaceX's Starlink would be offered at no additional cost and would allow for hundreds of passengers to connect simultaneously. This would include long-haul flights. Fast in-flight Wi Fi has become a key perk for premium airlines to attract customers. Starlink, the company that operates two-thirds (or more) of the satellites in space and generates most of SpaceX's revenue, has signed up 11...
Passenger Transportation Services
State highway patrol reports 12 deaths in Missouri plane crash
Law enforcement officials reported that 12 people died in the crash of a private plane on Sunday in Butler, Missouri. Missouri State Highway Patrol reported that the crash happened near Butler Memorial Airport about 60 miles south of Kansas City. The?agency posted on X that "at this time, reports indicate that all occupants (12 in total) have died." A spokesperson for Bates County Emergency Management confirmed to local TV station Fox4 that the victims included 11 skydivers and one pilot. Bates County Sheriff Chad Anderson told reporters that the plane had taken off from Butler Memorial Airport and crashed shortly...
Ground Transportation
Amtrak, the US passenger rail company, sets a record for ridership and cuts losses
Amtrak, the U.S. passenger rail company, said Tuesday that it had set records for revenue and ridership in a single year. It also cut its losses by 15 percent to $598 millions and is aiming for profitability by 2028. Amtrak is a major effort in rehabilitating the infrastructure of the Northeast corridor between Boston, Massachusetts and Washington. It is expanding service throughout the United States by purchasing new Acela trains with higher speeds and replacing regional trains from next year. Amtrak reported that in the twelve months ending September 30, it had 34,5 million trips made by customers, an increase...
Whaleboat sinks into river in Congo, killing at least 107 people
According to a government internal report viewed by us on Friday, at least 107 people died when a whaleboat caught blaze in the west of Democratic Republic of Congo. In a memo, the Ministry of Social Affairs stated that 146 people were missing after the boat, which was a narrow double-ended open vessel, caught fire near Malange Village in Lukolela Territory on Thursday night. The note stated that rescue teams recovered 209 survivors after the vessel burnt and drifted downriver. The fire destroyed the cargo and 15 riverside houses. The search operations continued Friday, with community volunteers and naval personnel...
As inventories shrink, premiums for copper contracts on the nearby LME soar.
The premiums for copper contracts near London Metal Exchange have increased to their highest level since October 2022 due to low inventories, large cash contracts and warrants held by traders. The title document that confers ownership on metal is a warrant. Tom-next, also known as the premium or backwardation that is charged for purchasing copper tomorrow and then selling it the next day, is currently trading at above The price of a metric tonne is $48. This compares to a $2 discount at the beginning of the week. The premium for the cash Copper Contract over the Three-Month Forward It...