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Transport Infrastructure
First time in Brazil, container ship is refueled with ethanol
The container carrier, operated by CMA CGM, refuelled?with the ethanol during a port stop in Santos, Brazil. This is the first time this type of fuel has been used to move the engines of deep-sea vessels in Brazil. CMA CGM IRON received 650,000 liters anhydrous alcohol from Brazilian ethanol and Sugar merchant Copersucar in a refueling service provided by Danish marine services group Bunker One. The CMA vessel, one of the 12 vessels operated by the group, is equipped with a trifuel engine. This engine can run on any combination of bunker fuels or methanol. The CMA vessel is a
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Western Europe
Italian judge rejects INWIT's bid to stop Telecom Italia from exiting tower contract
The company confirmed that an Italian judge rejected INWIT's urgent request to suspend Telecom Italia from withdrawing from a lease agreement. INWIT is Italy's largest tower operator and it has been embroiled in a dispute with two of its main customers, TIM &?Fastweb. Both have begun legal proceedings to terminate the contracts of their respective clients as part of an effort?to renegotiate these on more favourable conditions. INWIT's two main anchor tenants, TIM and Fastweb, account for almost 85% of the EUR1 billion in revenue. INWIT is not happy with the judge's decision, according to a spokesperson. The company also
Passenger Transportation Services
Passenger Transportation Services
Taiwan evacuates thousands as Typhoon Bavi hits Japan's southern islands
On Saturday, Typhoon Bavi pounded?Japan’s?southern Sakishima Island chain with heavy rainfall and violent winds as it headed toward Taiwan. Authorities warned of the dangers of flooding and landslides. Ishigaki Island, a part of Okinawa Prefecture, was strewn with debris, and only a few vehicles braved the rain and gale. The strong currents in a harbour were caused by the storm's strong winds, which reached a maximum sustained speed of 144 km/h (90mph) near the centre. Authorities warned of gusts up to 198 km/h. All Saturday, flights and ferry services in Ishigaki - a popular tourist spot - were suspended. More...
Passenger Transportation Services
Bahamas grounds Flamingo Air after 10 die in plane crash
The Bahamas' Prime Minister,?Philip Davis, said that 10 people were killed after an aircraft crashed on one of the Caribbean country's islands. Davis stated during a news conference that "once again, tragedy has marked a chapter of our nation's history." "Today was a celebration, but it has now become a mourning day." According to the Bahamian Aviation Accident Investigation Authority, the crash occurred at around 1:00 pm EDT, after the Cessna 402. took off from Lynden Pindling International Airport on its way to San Andros Airport. The authority stated that the aircraft "reportedly experienced difficulties" before it crashed into bushes....
Passenger Transportation Services
The US pump pain worsens as more US-Iran conflict lifts oil prices
After weeks of declines in gasoline prices, U.S. motorists have experienced a new spike after renewed fighting between U.S. and Iran has pushed crudeoilprices up to their highest weekly increase?in eight week. The global refining industry is experiencing disruptions, and the 'U.S. Fuel exports tightened the supply further, and AAA data show that average pump prices increased 6 cents to $3.88 per gallon this week. This was the largest weekly increase since mid May. The renewed fighting between Iran and the U.S. over the Strait of Hormuz has sent energy prices sharply up this week. The U.S. summer driving period...
Passenger Transportation Services
Wall Street closes higher as investors look to earnings season
S&P 500 ended 'just short of a new record high' on Friday as a Nasdaq debut? by South Korea’s SK Hynix fueled optimism for memory-chip makers. Investors also looked forward to the quarterly earnings season, which begins next week. Artificial intelligence is back in the spotlight following SK Hynix's $170 opening price, which was 14% higher than its initial offering price. The semiconductor company raised more than $26 billion by selling American depositary receipts at $149 per piece on Thursday. U.S. stocks increased after U.S. president Donald Trump stated that Iran asked for continued talks, and the U.S. agreed. The...
Passenger Transportation Services
Wall St. slightly higher after SK Hynix's impressive debut limits losses in chips stocks
S&P 500 climbed to a new record high on Friday as a 'blockbuster Nasdaq debut by South Korean chipmaker SK Hynix fueled optimism for semiconductor?stocks. Investors also looked forward to the quarterly earnings season, which begins next week. Artificial intelligence is back in the spotlight following SK Hynix's $170 opening price, which was 14% higher than its initial offering price. This high-profile U.S. IPO brought artificial intelligence to a new level. Memory-chip maker raised $26.5 billion by selling American depositary receipts at $149 per piece on Thursday. U.S. stock prices increased after U.S. president Donald Trump stated that Iran asked...
Passenger Transportation Services
European shares end four-week winning streak due to tech selling off, US-Iran War
European shares shook off a four-week streak of gains on Friday. The oil market was rattled by a 'unwinding in tech stocks' and the resurgence of tensions?in the Middle East. Investors lowered their hopes for a quick relief from the energy shock, and the?pan-European?STOXX600 fell 1.8% this week. Brent futures rose 5% this week after the U.S. and Iran exchanged strikes. Washington also reimposed sanctions against Iranian oil. The NATO summit in Turkey added a layer to the uncertainty, as U.S. president Donald Trump called Spain "a terrible partner" and threatened halting trade with that country. He later softened his...
Passenger Transportation Services
European shares end four-week winning streak due to tech selling off, US-Iran War
European shares lost their four-week winning streak Friday as a result of a resurgence in tensions and unwinding in tech stocks. Investors lowered their hopes for a quick easing of the energy supply crisis. The?STOXX?600, the pan-European index, fell 1.8% this week. The U.S. traded strikes with Iran, and Washington reimposed sanctions on Iranian crude oil. The NATO summit in Turkey added a layer to the uncertainty. U.S. president Donald Trump had called Spain a “terrible partner” and threatened to stop trade with Spain, but later softened his rhetoric. The week's events have shown that geopolitical risk is still a...
Passenger Transportation Services
RPT-Wall St. flat as SK Hynix debut's stellar performance limits losses in chip stock
Wall Street's major indexes traded in choppy trade on?Friday as SK Hynix, a?South Korean semiconductor company made a blockbuster Nasdaq debut. This helped to cap losses in a tumultuous stock market. Artificial intelligence is back in the spotlight following SK Hynix's $170 opening price, which was 14% higher than its initial offering price. This high-profile U.S. IPO brought artificial intelligence to a new level. Memory-chip maker SK Hynix raised $26.5 billion by selling American depositary receipts at $149 per piece on Thursday. The stock isn't soaring because this isn’t an IPO. This is a secondary offer of a publicly traded...
Passenger Transportation Services
Wall St flattens as SK Hynix debut's stellar performance limits losses in chip stock
Wall Street's major indexes fluctuated little in Friday's choppy trade, with the Nasdaq debut by SK Hynix of South Korea. This capped a week that saw chip stocks sway at the end. Artificial intelligence is back in the spotlight following SK Hynix's $170 opening price, which was 14% higher than its initial offering price. This high-profile U.S. listing brought artificial intelligence to the forefront. Memory-chip maker SK Hynix raised $26.5 billion by selling American depositary receipts at $149 per piece on Thursday. The stock is not advancing because this is not an IPO. This is a secondary offer of a...
Passenger Transportation Services
Wall St. steadies before South Korean chip behemoth SK Hynix debut
Wall Street indexes remained steady on Friday as investors awaited SK Hynix's highly anticipated Nasdaq debut, shifting their focus away from the recent escalation of the Middle East conflict. The AI market takes centre stage as SK Hynix prepares to list in the U.S. This offering will be the largest share sale in history after SpaceX's record breaking IPO last week. The chipmaker raised $26.5 billion by selling American Depositary Receipts at $149 each on Thursday. ADRs of the company are expected to open at $176.01 - about 18% higher than their offer price. We've heard it's oversubscribed (SK Hynix),...
Passenger Transportation Services
Wall St. to open with mixed crowds ahead of SK Hynix's listing; Middle East is in focus
Wall Street indexes opened mixed on Friday as investors awaited SK Hynix's highly anticipated Nasdaq debut. Meanwhile, the newest escalations in the Middle East conflict sparked inflation fears. Chipmakers' gains fueled the main U.S. indices to close higher during the previous session. The S&P 500, Nasdaq, and Dow were all on track to gain weekly gains as of Thursday's closing. The AI trade was also back on the agenda ahead of SK Hynix listing in the U.S. on Friday. This is the largest share offering in history, after SpaceX?s IPO record-breaking last month. Memory-chip maker, Samsung, raised $26.5 billion by...
Passenger Transportation Services
UN document: Countries must reject Iran's efforts to control Hormuz
The U.N. Shipping Agency's governing board agreed that countries should reject Iran's efforts to impose sovereignty over the Strait of Hormuz, and Tehran's unilateral decision to create an agency to control traffic in the waterway. This week, the U.S. and Iran engaged in hostilities, which included U.S. airstrikes triggered by Washington's accusation that Tehran was responsible for attacks on ships. The attacks have renewed concerns over the recovery of oil supplies and shipping worldwide, and they have highlighted the fragility in an interim truce that was supposed to end a conflict lasting more than four months while the U.S. negotiated...
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...