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LNG Transportation

Transport Infrastructure

Transport Infrastructure

India's Adani Group streamlines internal structure to speed up decisions

The Indian billionaire Gautam adani's group announced on Friday that it would be undergoing an internal restructuring to speed up decision making. Adani Group's move comes at a time when investment activity is picking up in India, Asia's third largest economy, driven by heavy infrastructure expenditure and a revival of private capital expenditure. According to the plan, the company plans to introduce a?three-layer structure of organisation with fewer decision makers. The group stated that "the strategy is anchored on three pillars and supported by strong liquidity, and access to capital. This enables accelerated capex deployment and faster project implementation." The...

Transport Infrastructure

Panama's president: US-China dispute has caught a port in Panama

Panama President Jose Raul Mulino stated that his country has a 'positive relationship' with China despite the fact that it is caught in a dispute between China and the U.S. He also defended Panama's 'takeover' of Hong Kong-based CK Hutchison's port contracts. He spoke at a regular news conference after receiving a message he described as "high level" from the Chinese government, which acknowledged that the dispute over port contracts would be heard by an international arbitration court and was not a matter between the Panamanian or Chinese governments. The message received by China's ambassador to Panama marked a "friendlier...

Transport Infrastructure

India's Adani Enterprises reports a fourth-quarter loss, hurt by the depreciation on some assets

India's Adani Enterprises, the flagship company of Gautam Adani, a billionaire who leads the conglomerate, announced a?fourth-quarter loss? on Thursday. The depreciation in some of its newly commissioned assets was the main cause. The company reported a net loss of $23.27 million in the quarter ended March 31. This compares to a profit last year of 38.45 billion rupees. The company stated in its filing that the fourth-quarter results had been impacted by depreciation of recently commissioned assets at the copper and 'Navi Mumbai' plant. Adani Enterprises fourth-quarter EBITDA (a measure of operating profit) rose by?3% year-on-year, to 43.46 trillion...

Transport Infrastructure

Adani Ports in India sees its quarterly profit increase as cargo volumes rise

Adani Ports & SEZ, India's largest private operator by volume, posted a 10.5% increase in profit for the March quarter on Thursday. This was boosted largely by a rise in cargo volumes. The company reported a net profit for the third quarter of?33.29billion rupees ($350.03m), up from 30.14billion rupees one year earlier. Analysts say that disruptions in the Strait of Hormuz caused shippers to reroute their cargo. This has led to an increase in container volumes, transshipments, and'stopovers' at Adani Ports. The firm's ports business, which is its largest, saw a 30.5% increase in revenue, while its logistics division grew...

Transport Infrastructure

Gulf crisis affects Australian and New Zealand companies, from airlines to banks

The U.S. and Israel war on Iran is causing financial stress for companies in Australia and New Zealand. Higher fuel prices are stoking inflation, reducing consumer and business confidence and weighing on corporate earnings. Below are some of the companies from Australia and New Zealand who have reported an impact on their business due to the Middle East conflict. Air New Zealand, New Zealand's flag carrier, announced that it would be raising fares in response to the volatility of jet fuel prices in early March. It was one of the first airlines to do so. The airline announced on April...

Transport Infrastructure

Hormuz traffic is at a trickle, as the US-Iran deadlock intensifies

Shipping data revealed on Wednesday that six ships, a small fraction of the normal traffic, have crossed the Strait of Hormuz over the past 24 hours. The U.S. The United States and Iran are still unable to reach a deal that would reopen this vital waterway. According to SynMax's satellite analysis and Kpler ship tracking data, the vessel traffic was mostly through Iranian waters, and included a chemical tanker called Vast Plus, which is under US sanctions. The majority of ships were dry bulk carriers. It was not possible to determine if there had been more than six vessels transiting...

Transport Infrastructure

Airport Authority Hong Kong offers $2.4 billion in bonds

AAHK (Airport Authority Hong Kong) has priced a HK$19billion ($2.4billion) three-tranche Senior Bond?offering in order to restructure debt and fund capital spending. AAHK said that the government-owned operator, Hong Kong International Airport, priced HK$10 Billion of bonds for three years at 2.90%; HK$6.5 Billion of bonds for five years at 2.97%; and HK$2.5 Billion of bonds for 10 year at 3.38%. According to a report on Tuesday, citing a 'term sheet,' AAHK is launching the bond sales as passenger traffic?has risen?and the airport has increased?use?of its three-runway system. AAHK stated in a statement released on Wednesday that the offering attracted...

Transport Infrastructure

Germany seeks alternative sources of oil as it reassures about its supply

Brandenburg said that up to 80% of crude supplies for 'Germany's PCK Schwedt refining plant are guaranteed in May. Germany is seeking alternatives to replace lost supplies following Russia's announcement to stop deliveries via the Druzhba pipeline on May 1. Dietmar W. Woidke, the state premier, said on Wednesday that "PCK's capability utilisation is stable. Crude oil supplies are secured up to 80% by May.?And jobs are protected." Woidke said that the situation allowed him to be optimistic about the future. He added that German officials worked with partners to find a solution for the refinery which supplies parts of...

Transport Infrastructure

Investors weigh the Iran stalemate and UAE OPEC withdrawal as they consider major Gulf markets.

Investors reacted positively to the United Arab Emirates decision to leave OPEC and the stalemate of the 'Iran conflict. The United Arab Emirates announced on Tuesday that it would leave OPEC, dealing a major blow to the alliance. The UAE is one of OPEC’s biggest producers. Its departure will weaken the group’s grip on the global oil?supply, and further its rift with Saudi Arabia. In Abu Dhabi, the share index rose 0.8%. This was boosted by a rally of companies linked to the oil giant?Abu Dhabi National Oil Company. ADNOC Drilling grew by 8.3%. ADNOC Gas grew by 3.1%. ADNOC...

Transport Infrastructure

New York Times Business News - April 29, 2019

These are the most popular stories from 'the New York Times' business pages. These'stories' have not been verified and we cannot vouch for their accuracy. The?U.S. Federal Communications Commission ordered an early license?review of the network's television stations after a joke made by late-night host Jimmy Kimmel led to calls from the White House that ABC fire the comedian. Federal Communications Commission ordered a license review of the network's TV stations. Pernod Ricard & Brown-Forman announced that they had ended their merger talks because the French spirits firm and 'the Kentucky-based owner Jack Daniels'?whiskey couldn't?agree on terms. The U.S. Supreme...

Ground Freight

Standard Chartered provides $2.33 billion in funding for Tanzania Railway

Standard Chartered Bank announced on Tuesday that it had successfully arranged a $2.33billion syndicated finance facility?for a Standard 'Gauge -Railway?Project?in Tanzania. The money will be used to finance two stretches on a planned 1,219 km rail line linking the port and commercial capital of Dar es Salaam with?the lakeside town of Mwanza. The bank said that Yapi Merkezi, a Turkish company, and China's China Civil Engineering Construction Corporation would be responsible for the work. The bank added that funding was obtained from commercial banks, export credit agencies and development finance institutions. The bank said: "The construction of the Standard Gauge...

Transport Infrastructure

Two people killed in train crash on the outskirts of Indonesian Capital

Officials said that at least 'two' people died when two trains collided late Monday in the city of 'Bekasi. It is located near Jakarta, Indonesia. The collision occurred in Bekasi station between a commuter train and a long distance train, according to the spokesperson for?the commuter train operator Karina Amand. She added that "we're focusing on evacuating both passengers and crew". Franata Wibowo, spokesperson for a local train operator, confirmed to a broadcaster Kompas TV at least two deaths. Could not confirm the death count immediately. We are trying to evacuate the victims as soon as possible to the nearest...

Passenger Transportation Services

Passenger Transportation Services

Sources say that the Air India CEO search has narrowed down to Singapore Air executive Kannan and insider Aggarwal.

Two sources who have direct knowledge of this matter say that Vinod 'Kannan, the Singapore Airlines CEO and Air India's commercial head Nipun Aggarwal will be the two frontrunners for the position of new CEO at Air India. This suggests that the search for the next CEO of India's second largest airline is close to completion. Last month, New Zealander Campbell Wilson announced his resignation as the airline faced persistent losses and regulatory oversight. One source said that the board of Tata Sons - the majority owner of 'airline' - is considering both names. There has not been a final...

Passenger Transportation Services

Oscar statuette for 'Mr. The flight carrying 'Nobody Against Putin" is missing

The Oscar trophy that belongs to Pavel Talankin - the?Russian filmmaker who won this year's best documentary for "Mr. The Oscar statuette for 'Nobody Against Putin,' which was won by the?Russian director Pavel Talankin, who won best documentary this year for 'Mr. Talankin had been scheduled to fly on Lufthansa from John F. Kennedy International Airport in New York to Frankfurt. David Borenstein, the co-director of his film, said that Transportation Security Administration (TSA), agents informed him that the statuette was a security risk. Borenstein posted on Instagram that a TSA agent had stopped him at the airport and told...

Passenger Transportation Services

Bangladesh signs Boeing jet contract, shifting from Airbus

Officials said that Bangladesh signed a deal to purchase 14 Boeing aircraft on Thursday, marking a departure from Europe's Airbus due to trade pressures from Washington. Officials have not disclosed the value of the transaction, but at list prices the deal would be worth about $3.7 billion. Boeing will provide a mixture of narrow-body and large-body aircraft to Biman Bangladesh Airlines. This includes 10 787 Dreamliners and four 737 MAX Jets. The national carrier is looking to modernise its fleet and increase capacity in order to meet the rising demand. Unable to provide further details, an official of the Biman...

Passenger Ground & Sea Transportation

Transportation

Transportation

US Treasury warns that even in the form of charity, shippers should not pay tolls for Hormuz.

The U.S. Treasury warned that any shipper who pays tolls for the Strait of Hormuz to Iran, or makes charitable donations to groups such as the Iranian Red Crescent Society is subject to punitive sanctions. About 20% of all crude oil and natural gas transported by sea passes through the Strait of Hormuz. Tehran has proposed to charge fees or tolls for vessels that pass through the Strait as part of its proposals to end war with Israel and the United States. According to the advisory from Treasury's Office of Foreign Assets Control (OFAC), the U.S. knows that Iran is...

Transportation

US Treasury warns that even if you pay in charity, the tolls for Hormuz are still a violation.

The U.S. Treasury warned that any shippers who pay tolls to?Iran to pass through the Strait?of Hormuz or make charitable donations to groups such as the Iranian?Red Crescent Society are?at?risk? of sanctions. About 20% of all crude oil and LNG flows in the world pass through the Strait of Hormuz. Tehran has proposed to charge a fee or toll on vessels that pass through the Strait as part of its proposals to end the conflict with Israel and the United States. The advisory from the Office of Foreign Assets Control of the Treasury stated that U.S. The U.S. is aware...

Transportation

Iraqi state news agency reports that work has begun on the Basra-Haditha pipeline.

Iraq began work on a 'oil pipeline connecting Basra and Haditha with a capacity of 2.5m barrels a day, according to the'state news agency, citing the Oil Ministry, in an effort to expand the export routes for the OPEC producer. The ministry stated that the project has received a budget of $1.5 billion, but its speed will be determined by the amount of additional funding. A spokesperson for the ministry said that the 700-kilometre pipeline (435-miles) will be used to transport crude oil via multiple routes including Syria's Baniyas and Turkey's Ceyhan, as well as Jordan's Aqaba. It will also...

Transportation

Sources say that despite the attacks, Russian oil exports were steady in April, but may increase in May.

According to industry sources, Russia managed to maintain crude oil loadings in its western ports at the same level as March despite 'ongoing drone attacks. Drone attacks on ports and pipelines in the Baltic Sea and Black Sea ports in late March or early April slowed down crude oil loadings, but not overall. The estimated exports and transit shipments in April of Urals, Siberian Light, and KEBCO crudes from?the port of Primorsk?, Ust-Luga?, and Novorossiysk?, including carryovers from the initial schedule for March?and top-ups?, is around 2.2 millions barrels per day. The data from the market showed that this figure...

Transportation

Russia adds four LNG tanks to its fleet ahead of Europe's import ban

LSEG ship tracking data and the Russian'ship register' showed on Wednesday that Russia added four liquefied gas carriers to its fleet. This could help increase the country?s?marketshare ahead of a ban by the EU on Russian gas imports. In January, the European Union gave final approval to an import ban on Russian natural gas by 2027. In response to Russia's "war on Ukraine", the bloc also imposed sanctions. The sanctions have restricted Russia's ability to access the vessels that it needs to increase its share of the global market for LNG. The Russian Register?on?Wednesday showed four LNG tanks: the Orion,...

Transportation

HSBC expects UAE's exit to have a limited impact on OPEC+ in the near term

HSBC stated in a research note published on Tuesday that the United Arab Emirates' exit from OPEC, and the wider OPEC+ coalition from?May 20, 2026 will have a limited impact?on the oil markets. However, it could weaken OPEC's ability to manage prices and supply over time. The?UAE?,?one OPEC+'s biggest producers?, announced on Tuesday that it would be leaving both OPEC+ and OPEC, dealing a major blow to the producer's group, as the U.S./Israeli war against Iran disrupts the energy flow. HSBC predicts that global oil supplies will remain stable in the short term as disruptions to the Strait of Hormuz...

Transportation

Germany talks to Poland about oil supplies after Russia announces a halt in supply

Germany and Poland are in discussions to see if short-term replacement oil can be delivered to the PCK Schwedt refining plant via Gdansk port after Russia announced it would stop the supply of Kazakh oil through the Druzhba pipe. A spokesman for the German Economy Ministry said that this was the case. The spokesperson said that the talks were in progress and refused to give any details. She noted that the supply contracts are between the companies concerned, but the government was closely following the process. A spokesperson for the Polish energy ministry stated that the country has the technical...

Transportation

JPMorgan among banks providing financing for Kuwaiti oil pipeline stake deal

Three people familiar with the matter said that JPMorgan, two Kuwaiti banks and HSBC are joining forces to form a $6 billion financing consortium for prospective buyers of a stake in Kuwait Oil?Corporation?s crude 'oil pipeline network. KPC is in discussions with potential investors about a stake sale of its crude oil pipelines, estimated at $7 billion. The U.S. and Israeli war against Iran has thrown the process into doubt. State energy company said it had suffered "severe material damage" to some of its operating units following drone attacks. The company did not say which units were affected. Two of...

Oil Pipeline

Turkish BOTAS investment will increase Ceyhan crude oil production to 45 million barrels, according to a newspaper

A newspaper reported that the Turkish oil and gas pipeline operator BOTAS would invest in a project to quadruple crude oil storage capacity at its facilities in Ceyhan, in eastern Mediterranean. Turkiye quoted BOTAS Chief Executive Abdulvahit Fidan as saying that the crude oil tank farm in Ceyhan project, where 'the Baku-Tbilisi -Ceyhan crude oil pipelines and Iraq-Turkey crude oils connect, will increase storage capacity to 45,000,000 barrels by 2030. It is currently 11.1 million. Fidan was quoted in the paper as saying at an energy conference held on Saturday that the project would increase Turkey's ability to withstand energy...

Transportation

Could Asia be the unexpected winner of the fallout after the Iran war? : Raychaudhuri

Asia is the most vulnerable area in the Iran War due to its heavy reliance upon Middle East oil and gas. But it could be the biggest winner as a result of several long-term tendencies this conflict will likely accelerate. These include higher cybersecurity investments, the pivoting away from fossil fuels, and supply chain diversification. Energy-intensive economies in the region, led by China and Japan, South Korea and India, are heavily dependent on Middle Eastern gas and oil. Around 80% of the oil and 90% of the gas that transits through 'the Strait of Hormuz is destined for Asian market....

Transportation

Local official: Ukrainian drone strikes apartment building in Russian Yekaterinburg

The regional governor announced on Saturday that a Ukrainian drone had struck a multi-storey apartment building in Russia's fourth largest city, Yekaterinburg. This was the first attack in the city since the start of the Russia-Ukraine war. Denis Pasler wrote in the Telegram app that there were no deaths, but minor injuries had been reported and one woman was admitted to hospital. He said that residents of the building were evacuated. "All emergency services work quickly." A video posted on X, a social media site, and confirmed by showed smoke pouring from the top of a high-rise modern building. The...

Transportation

Lavrov, the Russian Foreign Minister, says that US is ignoring international conventions and pursuing its own interest

In an interview broadcast Friday, Russian Foreign Minister Sergei Lavrov said that the United States had abandoned internationally recognised "diplomatic conventions" in pursuit of their own interests, particularly dominating the energy markets. Lavrov said, when he was interviewed by the Russian state television, that Washington's "dealings" with Latin America and Middle East were "returning us to a time where there was no international law." In an interview posted on the Foreign Ministry website, he stated that "the United States has declared that no one is allowed to dictate to them." It only cares about its own wellbeing and is prepared...