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Tropical cyclone in Northern Territory leaves thousands of Australians powerless
On Sunday, thousands of people in Australia’s Northern Territory, including the capital Darwin, were left without power after a tropical storm brought destructive winds overnight. Fina, an extremely severe tropical cyclone of category three, moved away from Darwin on Sunday, clocking wind gusts of 205 kph. It had passed the city on Saturday night as "severe tropical storm", according to the Bureau of Meteorology. Fina brought back painful memories for residents of Darwin (population around 140.000), of Cyclone Tracy which destroyed much of the city in 1974 and killed 66 people. It was one of Australia’s worst natural disasters. Lia Finocchiaro, the chief minister, said that about 19,000 people lost power because of Fina. The storm also damaged property and submerged roads but did not cause any injuries. Finocchiaro, in a Darwin-televised media conference, said that the cyclone had seen a united territory prepared for what lay ahead. As crews began assessing damage, authorities urged residents in Darwin, a garrison city located in the north, to avoid power lines that had fallen. Darwin International Airport, closed as a precaution on Saturday due to Fina, announced on Sunday that it would "work to reestablish its operations as soon it is safe". According to the Weather Bureau, Category 3 tropical cyclones are two levels below the most dangerous rating. They usually cause damage to structures, trees, and crops, and power outages. In March, the ex-tropical storm Alfred, which hit Queensland in neighbouring Australia, closed schools and left hundreds of thousands without power.
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Reeves freezes rail fares for UK budget
Rachel Reeves, British Finance Minister, said Sunday that she will freeze rail fares in her budget plan to be presented on Wednesday. She hopes to help millions who are struggling with rising costs of living. Reeves' budget is expected to include tax increases, but those who use the railways regularly will find some relief from the frozen fares. Treasury said that the freezing of rail fares would also help to limit inflation. A Treasury statement said that this is the first time rail fares in 30 years have been frozen. It will also cover season tickets for commuters, off-peak return between major cities, and peak returns to commuters. The statement stated that the move would save commuters hundreds on their season tickets and freeze travel costs. It will also support the growth of town centres throughout the country.
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Britain introduces $2 billion package for EVs
The British government will introduce a package worth 1.5 billion pounds ($2 billion) to speed up the switch to electric cars, according to reports. This includes an additional 1.3 billion pounds to fund a grant program to purchase new electric cars. Since its launch in July of this year, the Electric Car Grant Scheme has helped over 35,000 drivers switch to an electric vehicle by reducing upfront costs up to 3,750 pound. According to the government, an additional 200 millions pounds will be included in the budget due on 26 November to speed up the deployment of chargepoints throughout Britain. In order to achieve a goal of net-zero emissions of greenhouse gases by 2050 in Britain, the country wants to phase out new petrol and diesel vehicles by 2030. The demand for EVs is stagnant, with consumers citing the high upfront costs of EVs as their main obstacle. The Conservative Party, the opposition party, criticised this move. Richard Holden is the Conservatives' Transport Policy Chief. He said: "Under Labour, ordinary families face increased taxes and spiralling prices, but the government gives discounts on new electric vehicles." This is the type of tone-deaf spending that we have come to expect from this Labour Government. Reporting by Elizabeth Piper Editing Mark Potter
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After US warning, several international airlines have cancelled flights to Venezuela
Three international airlines canceled flights from Venezuela on the morning of Saturday. The U.S. Federal Aviation Administration had warned major airlines about a "potentially dangerous situation" while flying over the nation. Flightradar24, the official website for Simon Bolivar International Airport, and Brazil's Gol and Colombia's Avianca all reported that three international airlines canceled their flights from Caracas, Venezuela, on Saturday. Aeronautica Civil de Colombia stated in a press release that there are "potential risks", when flying in Maiquetia, "due the deterioration in security conditions and the increased military activity in this region." TAP confirmed that it has canceled flights for Saturday and Tuesday. The company said that the decision was made after receiving information from the United States Aviation authorities, which indicated that safety conditions were not guaranteed in Venezuelan airspace. Iberia, a Spanish airline, also announced that it would cancel its flights to Caracas starting Monday. Iberia's scheduled flight to Madrid on Saturday from Venezuela's capital was cancelled. Iberia's spokesperson said that the company would assess the situation and decide when flights will resume to Venezuela. On Saturday, Copa Airlines and Wingo continued to operate their Maiquetia flights. The U.S. FAA's notice noted the "worsening situation in security and increased military activity around Venezuela", and warned that threats could be a danger to aircraft of all altitudes. In recent months there has been an enormous American military buildup, including the largest aircraft carrier of the U.S. Navy, as well as at least eight warships and F-35 planes. Flightradar24 reports that the Latam Airlines flight scheduled to depart for Bogota on Sunday has been cancelled. (Mayela Armas, Caracas; Corina Pons and Ana Cantero at Madrid; Sergio Goncalves at Lisbon; Ana Cantero writing and editing; Diane Craft and David Gregorio).
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Defence Minister: Eindhoven Airport closed due to drone sightings
In a Facebook post, Dutch Defence Minister Ruben Brekelmans stated that the suspension of air traffic at Eindhoven Airport in the southern Netherlands on Saturday night was due to the multiple sightings of drones. Brekelmans stated that "counter-drone equipment has been ready for action". "An investigation continues." On Saturday, the Dutch defence ministry said that the Dutch military had fired weapons on drones seen above Volkel Air Force Base, located about 40 kilometers (25 miles northeast of Eindhoven). Eindhoven is both a civil and a military airport. Brekelmans stated that all types of air traffic had been suspended. When asked if the origin of the drones was known, the ministry of defence had no further comment. In recent months, drones and other airspace intrusions have caused significant disruption throughout Europe. In September, three Russian military jets violated Estonian airspace for twelve minutes and more than 20 Russian drones invaded Polish airspace. Since then, drones, whose origins are largely unknown, have disrupted the airspace operations of Europe. Ursula von der Leyen, President of the European Commission, has described these incursions as "hybrid war".
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After US warning, several international airlines have cancelled flights to Venezuela
Three international airlines cancelled flights from Venezuela on Sunday after the U.S. Federal Aviation Administration on Friday warned major airlines of a "potentially dangerous situation" while flying over the nation. Flightradar24, the official website of Maiquetia International Airport, and Brazil's Gol and Colombia's Avianca cancelled their flights leaving Caracas Saturday. Aeronautica Civil de Colombia stated in a press release that there are "potential risks", when flying in the Maiquetia region "due the deterioration in security conditions and the increased military activity in this area." Iberia, a Spanish airline, also announced that they would cancel their flights from Caracas until further notice. The flight from Venezuela's capital to Madrid scheduled by the Spanish company on Saturday has departed. Iberia's spokesperson said that the company would assess the situation and decide when flights to this country could resume. On Saturday, Copa Airlines and Wingo continued to operate their Maiquetia flights. The U.S. FAA's notice noted the "worsening situation in security and increased military activity around Venezuela", and warned that threats to aircraft could be present at any altitude. In recent months there has been an enormous American military buildup, including the largest aircraft carrier of the U.S. Navy, as well as at least eight warships and F-35 planes. Flightradar24 reports that the Latam Airlines flight scheduled to depart Bogota on Sunday is also cancelled. Reporting by Mayela Aras from Caracas, Corina Pons in Madrid and Ana Cantero at Caracas. Editing by Diane Craft.
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Officials say that the fire on a container ship in Los Angeles has been'substantially contained'.
The Port of Los Angeles announced on Saturday that a fire on a cargo vessel, which sent smoke billowing throughout the second-most populous U.S. City, had been "substantially confined" after several hour. The shelter-in-place order for two neighborhoods in the city has been lifted. There have been no injuries reported. A fire started on the dock of the One Henry Hudson in San Pedro, Los Angeles at around 6:30 pm local time. Officials said that fire crews and members of the ship's crew continued to suppress the fire on Saturday after the vessel had been towed from its berth in the Yusen Container Terminal. Los Angeles Fire Department reported that marine units continued to cool the exterior of the ship. ABC affiliate TV footage showed streams of water being shot by firefighting vessels on the sides of the ship and containers that were on fire. The fire and explosion that occurred on Friday caused concern about the burning of hazardous materials. The fire quickly forced the evacuation of all 23 crew members, as it disrupted crane and power operations. Officials have issued shelter-in place orders for Los Angeles' communities of San Pedro, Wilmington and others. These orders were lifted Saturday. Officials also removed the work restrictions for the terminals of Los Angeles' port. Fire officials had earlier reported that four of the seven container terminals in the port were operating again. According to LSEG, the One Henry Hudson is a Panama-flagged ship that arrived in Los Angeles from Tokyo's Shinagawa Port on Wednesday. Rich McKay reported from Atlanta, with additional reporting by Rajveer S. Pardesi, Rishabh J. Jaiswal and David Gregorio in Bengaluru.
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Portugal claims that only three of Europe's largest airlines expressed interest in TAP privatisation
Parpublica, the state-owned holding company of Portugal, announced on Saturday that it had only received three expressions interest for a minority stake of TAP's flag carrier. All were from Europe's biggest airlines, and none came from outside of the EU. This was far below what government expectations had been. British Airways' owner IAG and Air France-KLM, as well as Germany's Lufthansa, had announced they had submitted formal expressions of interests. Portugal restarted its long-delayed TAP privatisation in July. It aims to sell a 44.9% share to an airline that can boost the company's international scale and competitiveness. A further 5% will be offered to TAP staff. In July, Prime Minister Luis Montenegro stated that the government expects major airlines from outside of the European Union to be interested in TAP's planned privatisation. He cited the carrier's potential. The deadline for airlines formally expressing interest in the project closed at 1700 GMT on Saturday. Parpublica announced in a press release that it had until 12 December to evaluate whether interested airlines met the criteria. These include at least one year's revenue of more than 5 billion euro in the past three years, and financial capability. Offers that are not binding must be submitted by the middle of March, followed by offers that include a price and a TAP strategic plan. Privatisation is expected in the second half 2026. TAP's main assets are its connections with Brazil, Portuguese-speaking African nations and the United States, all from Lisbon, the hub that the government is keen to maintain and expand. Bernstein analysts estimated TAP's stake of 44.9% at 700 million euros, based on an airline valuation totaling 1.5 billion euros. This represents a premium of roughly 25-30% over European peers. They justified this by citing TAP's potential strategic advantage.
Maguire: Global coal markets are jolted by stronger East Asian imports
In August, global shipments of thermal coke - used to generate electricity - reached their highest level since the end of 2024 on the backs of strong import orders from China, Japan and South Korea.
After nine consecutive months of declining monthly coal exports year-over-year, there were expectations that 2025 could be the first year in which global coal trade will contract.
The increased regional interest in coal imports is due to a combination of lower domestic coal production in China, the world's largest coal consumer, and higher factory activity in East Asia over the past few months.
Continued restrictions on coal mining by China, combined with a higher demand for electricity as we head into winter, could lead to a steady increase in the overall imports of coal for the remainder of 2025. This would scupper hopes that coal flows will continue to fall.
A new downturn in the manufacturing sector, combined with milder temperatures in Asia in 2026, could reduce overall coal consumption and imports. This would keep coal export volumes for 2025 on track to fall.
Here are some key data points that coal traders should be tracking to determine if the recent increase in imports is a sign of reversing the trend that has been weakening for months or if it's just a temporary blip on the global decline in coal export volumes.
Key Markets
According to Kpler data, total thermal coal exports were 85.34 millions metric tons in August, the first time since December last year that this number was above 81.
The total for August was 6.4 million tons higher than the previous month. This means that thermal coal shipments have increased two months in a row after a series of monthly reductions starting late in 2024. The August reading also marked the first monthly increase compared to the previous month since October 2024. This could have an impact on the market sentiment, if further gains in import volume are recorded moving forward.
China, South Korea, and Japan led the increase in global coal imports from the previous month to August.
Kpler data show that China (up by 5.3 millions tons), Japan (+0.6 million tonnes) and South Korea (+1.8 million tons), collectively increased their purchases from 47.9 to 47.9 Mt in August.
China, South Korea, and Japan's combined monthly imports increased by 19% from the previous month, and caused regional coal markets to tighten.
LSEG data shows that the average coal export price from Newcastle in Australia reached a five-month high of $111 per ton, compared with around $106 between June and July.
Key Indicators
To track the future import potential of coal, traders will need to closely monitor coal mine production in China. A constant pushback against excessive capacity has resulted in a reduction in coal mine output.
China's latest monthly production estimate put the country's coal output at 390.5 millions tons. This marked a decline year-over-year but followed a roughly 3-percent increase in total coal output in 2025.
Trackers of the coal market will need to keep tabs on China's massive industrial economy in order to gauge its overall energy and coke needs.
China's factory output in August grew at its fastest pace in five month on the back of a surge in new orders.
The continued expansion of the industrial sector will lead to a greater demand for coal and other energy sources, as well as a higher production of key ingredients.
The increased industrial activity in China will likely also spillover into Japan and South Korea's economies, as they have closely linked supply chains for parts and goods.
Finaly, the weather conditions in East Asia during the last months of 2025 are also likely to play a significant role in regional coal appetite.
Forecasts for the period of early 2026 indicate that temperatures will be slightly higher than long-term averages in Japan, South Korea, and China, resulting in a lower-than-normal demand for heat.
These forecasts will change as the coldest months of year approach. If extended cold snaps occur, coal demand is likely to increase.
In East Asia, the coal-fired electricity generation reaches its annual peak around November and Decemeber when cold weather increases demand for heating.
In China, the mine production caps may make it difficult for utilities to increase their inventory levels this year.
Power firms may boost their coal imports to meet their inventory requirements if the curbs on new mine production persist this winter. This could help maintain recent upward momentum in global coal order.
The increased competition between China and Japan for coal may encourage buyers from Japan, South Korea, and other countries to increase their coal import orders. This could lead to an even greater increase in coal orders.
These are the opinions of a columnist who writes for.
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(source: Reuters)