Latest News
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Tusk: Poland could open new border crossings to Belarus next month
Donald Tusk, the Prime Minister of Poland, said that Poland would be prepared to reopen another two border crossings in Belarus by November. Poland closed its border to Belarus on September 12, due to military exercises conducted by Russia in Belarus, and the entry of 21 Russian drones into its airspace during the night of 9-10 September. On September 23, the Polish government announced that it would reopen a number of rail crossings as well as one road crossing. Tusk announced at a Bialystok business event that "we will be ready to open two border crossings this year in November" in Bobrowniki, and Kuznica. Let's say we open the two crossings for a test in November after I have settled this issue with Lithuanians. I will not hesitate to close the border again if it is necessary. Lithuania, a neighboring country, closed Vilnius Airport on four occasions last week as a result of balloons entering its airspace. It also temporarily closed its Belarus border crossings. Alexander Lukashenko, the Belarusian president, said that the Lithuanian border closure was a "crazy swindle" on Tuesday. He also accused the West that it was fighting a hybrid conflict against Belarus and Russia which was ushering in an era of barbed wire division. (Reporting and writing by Alan Charlish, Pawel Florkiewicz and Timothy Heritage. Editing by Timothy Heritage.)
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As the shutdown continues, hundreds of air traffic controllers are taking on second jobs.
A union official reported that hundreds of U.S. Air Traffic Controllers, who missed their first pay check, took on temporary second jobs on Tuesday. This increased pressure on the aviation safety system, which is already under strain during a long government shutdown. Nick Daniels, President of the National Air Traffic Controllers Association, told reporters at Reagan Washington National Airport that it is likely to increase as controllers look for other ways to pay bills. Daniels warned that the number of people affected by the shutdown would soon reach 1,000. She urged the government to resolve the crisis. "We want to see the shutdown end today... The American people deserve that." Even before the shutdown, many air traffic controllers were already working six-day weekends and mandatory overtime. THOUSANDS of flights have been disrupted in the past two days The 28-day government shutdown has caused the aviation industry to be repeatedly disrupted. Nearly 7,000 flights were delayed on Monday, and 8,800 flights on Sunday. Just over 1,000 flights had been delayed as of 9:30 am EDT. A budget impasse between Republican president Donald Trump and Democratic congressional leaders triggered the shutdown, which will affect 13,000 air traffic control officers and 50,000 Transportation Security Administration (TSA) officers. Sean Duffy, Transportation Secretary, will hold a news conference at the LaGuardia Airport in New York on Tuesday to discuss this shortage. He said that controllers were getting jobs as food delivery drivers or Uber drivers to help them make ends meet. Daniels stated that the lack of payment was a dangerous distraction, and that the "system becomes less safe every day this shutdown continues." Frustration over delays forces lawmakers to resolve issue FlightAware's flight tracking website reported that 34% of Southwest Airlines flights were delayed on Monday. American Airlines was at 29%. United Airlines had 19% of its flights delayed, and Delta Air Lines 22%, according to FlightAware, a flight-tracking website. The public is frustrated by the delays and cancellations, and the impact of the shutdown has been intensified. This puts pressure on legislators to end the shutdown. The number of controllers and TSA agents absented during the 35-day shutdown in 2019 increased as employees missed paychecks. This led to longer wait times at airport checkpoints. New York and Washington authorities were forced to slow down air traffic.
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Polish oil terminal expansion could boost Germany's seaborne consumption
Naftoport, the majority-owned company of Poland, will build a new supertanker jetty at its Gdansk terminal to relieve pressure on infrastructure, and allow German customers to switch completely to seaborne supplies. The terminal will start construction on a new jetty in this year to protect volumes and reduce vulnerability due to maintenance interruptions. The terminal will increase its annual capacity from 49 million metric tones once it is completed in 2028. We're confirming to our customers that we can do this during discussions on spot deliveries. Daniel Swietochowski is the chief executive officer of Polish pipeline operator PERN. PERN, a state-owned company, holds the majority of shares in Naftoport. The port has been running at nearly full capacity since 2023 and is handling record volumes non-Russian crude oil as refiners linked to northern Druzhba switched to maritime deliveries. The output is expected to surpass 39 million metric tonnes this year, and then remain constant in 2026. The additional infrastructure will enable Naftoport, along with Polish refineries operated or Orlen, to cover the demand of Germany's PCK Schwedt Refinery, which is majority owned by Rosneft and TotalEnergies Leuna Refinery. PCK, which accounts for more than 12% of Germany's fuel processing capacity, is part of Berlin’s successful efforts to continue its operations despite the sanctions imposed on Rosneft by U.S. president Donald Trump. Shell and Italy's Eni own minority stakes in Schwedt. The company has been relying on Kazakh crude shipped via PERN via Poland, and on seaborne flow via Naftoport ever since Russian deliveries were halted after Moscow invaded Ukraine. Daniel Betke, CEO of Naftoport, said that the new jetty would ease the pressure on the port. He added: "We often use the six hours between the departure of one tanker and the arrival the next to perform repairs, inspections or maintenance." He said, "This jetty is our insurance policy." (Reporting and editing by Alexander Smith; Marek Strzelecki)
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JetBlue posts smaller-than-expected loss on strong premium demand, cost controls
U.S. carrier JetBlue Airways reported a smaller-than-expected quarterly loss on Tuesday, as steady demand for premium travel and cost-control efforts helped cushion margins. Premium services with high margins have been resilient. Affluent travelers continue to pay more for comfort while carriers cut capacity on domestic routes in order to reduce costs. JetBlue, along with its larger competitors United, American and Delta have all highlighted the resilient premium demand which has helped offset the slowdown of the U.S. market due to economic uncertainty caused by President Donald Trump’s policy changes. JetBlue President Marty St. George said, "We're optimistic that the demand environment will improve throughout the year." JetBlue's operating costs have been high and the aircraft grounded due to the Pratt & Whitney engine problems on RTX. The carrier has had to cut back on spending due to rising costs. They have stopped unprofitable routes and delayed aircraft deliveries, as well as halted plans for cabin upgrades. The New York-based carrier said that it expects the fourth-quarter unit revenues, which is a key indicator of pricing power, will be flat or down by as much as 4 percent from last year, when high demand drove up fares. JetBlue, which has an all-Airbus aircraft fleet, has lowered its forecast of unit costs in 2025, excluding fuel, to a range of 5%-6%. Earlier, the range was 5%-7.5%. LSEG data shows that it reported a loss per share of 40 cents, a tad less than Wall Street expectations of 44 cents. Analysts' expectations were met by the airline's total operating revenue of $2.32 billion for the quarter. The airline anticipates a profit before interest and tax, or operating income, between $800 million and $900 million by the end of 2027.
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Kenyan plane crashs with 11 foreign tourists aboard
On Tuesday, a light aircraft carrying 11 foreign tourists from Germany and Hungary crashed in Kenya. Mombasa Air safari, the airline, claimed that there were 10 passengers on board: eight Hungarians, and two Germans. The captain was Kenyan. Mombasa air safari said, "Unfortunately, there are no survivors." According to the Civil Aviation Authority, the accident occurred at Kwale near the Indian Ocean coastline at around 0830 local (0530 GMT). In comments broadcast by Kenya Broadcasting Corporation (KBC), a regional police commander said that all passengers were tourists. Citizen TV reported that the bodies of those aboard had been burnt beyond recognition. The aviation authority stated that the aircraft was traveling from Diani on the coast to Kichwa Tembo, in Kenya's Maasai Mara National Reserve.
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MOL Hungary says Danube refinery has restarted at reduced capacity
The Hungarian oil company MOL announced on Tuesday that it has resumed production at its main Danube Refinery following an earlier fire at a distillation unit which processes more than 40% of the refinery’s crude intake. MOL's and Hungary’s energy supply was under pressure last week on two fronts due to the fire, and U.S. sanction against Russian oil companies Lukoil & Rosneft. According to MOL, the refinery processes a large amount of Russian crude that is delivered through the Druzhba Pipeline. International Energy Agency data show that it effectively covers Hungary's demand for oil and petroleum products. According to LSEG, the AV3 unit where the fire started processes more than 40% of the refinery’s crude intake. The restart of the units that were not affected by fire went according to plan, so the Danube Refinery started fuel production with a reduced capacity, MOL reported on Tuesday. It added that Hungary's supply of fuel was secure. Viktor Orban, Hungary's prime minister, will meet Donald Trump next week in Washington to discuss U.S. oil sanctions against Russian companies and other topics. (Reporting and editing by Bernadettebaum; Krisztina than)
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Kumba's improved rail performance allows South Africa to haul more iron ore into port
Kumba Iron Ore, South Africa, reported on Tuesday a 12% rise in mineral shipped to ports in the third quarter of the year on the backs of improved freight rail performance. This led to a 7% increase in quarterly sales. Anglo American delivered 10,2 million metric tonnes to Saldanha Port in the third quarter. This compares to 9,1 million metric tonnage during the same time period last year. Kumba's sales totaled 9.6 million tons during the third quarter. This is up from 9 million tons. Kumba, Africa’s largest iron ore mining company, stated in a recent production update that improvements to the freight rail network are mainly attributed to the ongoing cooperation between bulk mineral producers, and the state-owned logistics firm Transnet, to restore the ore shipping corridor. Kumba's iron ore on-mine stockpiles decreased to 5.5 millions metric tonnes from 6.4million metric tons in the month of June due to improved rail performance. Stockpiles at the port increased from 1 million to 1.8 millions metric tonnes at the end September. Transnet's problems, blamed for under-investment, cable theft, and vandalism, forced Kumba, a miner, to reduce their production in order to match Transnet's reduced capacity. Transnet reported an increase of 5% in its freight volume after moving 160 millions metric tons during the year ending March 2025. It aims to haul 180 million metric tonnes in the current financial period. Kumba's annual sales are expected to be at the higher end of its unchanged forecast for sales and production between 35 and 37 million tons. (Reporting and editing by Conor Humphries; Nelson Banya)
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Royal Caribbean forecasts quarterly profit below estimates
Royal Caribbean's current quarter profit was below expectations Tuesday due to higher fuel prices and economic uncertainty. In premarket trading, shares of the company that also predicted an annual profit below expectations were down around 8%. After a boom in demand following the pandemic, the company struggles with customers who are reluctant to spend on expensive cruises due to persistent inflation in the U.S. and uncertainty caused by tariffs. According to data compiled and analyzed by LSEG, the company expects a profit per share adjusted for fiscal 2025 of between $15.58 and $15.63. This is higher than its previous forecast of between $15.41 and $15.55 but still falls short of analyst estimates of $15.68, according to LSEG. Analysts' average estimates of $2.89 for the fourth quarter of adjusted profit per share are expected to fall between $2.74 and $2.79.
Finland's Wartsila believes in shipping decarbonisation despite IMO setback
Wartsila's CEO stated on Tuesday that he still believes in the decarbonisation process of maritime traffic despite the delay in establishing a carbon price globally for shipping. The company reported a third quarter order intake below expectations.
The Finnish engineering group has invested in emission reduction technologies for power plants and ships. The company expects a higher demand for the technologies under the International Maritime Organisation climate plan.
Under pressure from the United States, however, a decision was made to delay a global shipping emission price by an entire year in early this month.
TARIFFS AND REGULATIONS IN THE US 'HEAVILY IMPACT' ENERGY STORAGE
Hakan Agnevall, a Wartsila spokesperson, said that despite the fact that quarterly orders fell by 0.7% on an annual basis to 1.79 billion euro ($2.09 billion), he had not noticed any negative effects as a result.
He said, "The journey of decarbonisation continues." "We keep selling because owners are trying to hedge their bets. "They want fuel flexibility and fuel efficiency."
Agnevall stated that Wartsila’s energy storage unit was "heavily affected" by U.S. Import duties and Foreign Entity of Concern regulations.
Last year, the energy storage unit represented 12% of sales. Agnevall, however, said that it had not received any new orders during the third quarter following the FEOC regulation which was included in President Donald Trump's "One Big Beautiful Bill Act" and banned the importation of Chinese battery cells into the United States.
Wartsila said that he is looking to source battery cells from other Asian or U.S. countries in order to mitigate the impact.
Investors had expected a higher growth rate and better prospects, particularly for orders of energy equipment.
JPM analysts in a JPM note wrote: "This could be disappointing for investors, who expected Wartsila's demand outlook to be upgraded on the potential upside of data centre orders." They were referring to Wartsila keeping its energy demand forecast unchanged.
Despite the IMO setback Wartsila left its outlook for marine unchanged and expected higher demand.
Agnevall stated that "there will be a journey towards a more fragmented landscape of regulation, as countries and regions have their own regulatory frameworks."
(source: Reuters)