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Colombian coffee exports are restricted following the earthquake
Market participants reported on Wednesday that coffee movement is limited in the main producing areas of Colombia, and that loadings into the export'market at the top coffee port Buenaventura are restricted - while the port management assesses possible damages. The 7.4-magnitude earthquake that struck Colombia on Monday severely damaged the main coffee-producing region, which is the third largest coffee-growing country in the world and a major supplier of arabica beans. The Colombian Coffee Federation and Sucafina, a leading soft commodities trader, reported that there were landslides blocking local roads in the mountainous area where coffee is grown. 60% to 70% of Colombian exports go through the port Buenaventura. The federation said that "port terminals in Buenaventura temporarily suspended their operations as infrastructure inspections were conducted and landslides which affected?access road?were addressed." Sucafina said that the movement in and around Buenaventura and the Eje Cafetero region (coffee-growing region) are currently restricted. However, the coffee federation said that exports continued unabated in other ports. This included Cartagena and Santa Marta which accounted for a lesser share of shipments. Sucafina - which supplies many roasters with Colombian coffee in the U.S. - said that it was evaluating alternate routes and logistic solutions for?the coffee shipments. Around a quarter all coffee consumed in the United States, the largest consumer of the beverage on the planet, comes from Colombia. Buenaventura Port said that it will gradually resume certain operations in areas of the complex that are considered safe. Port officials'said they would allow customers to retrieve containers that had arrived on the port site as part of imports. The port also said it would allow clients to access'some coffee and sugar warehousings' at the site, but would still keep a hold on arrivals of containers full for export. Reporting by Marcelo Téixeira, New York; Luis Jaime Acosta, Bogota. Editing by Alistair Bell.
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Source: Credible missile threat led Trump to secretly switch aircraft
The Secret Service secretly moved President Donald Trump to an unmarked government plane during his trip to Turkey in the last month after a 'threat was made that Air Force One would be attacked by a shoulder-fired rocket. Sources said that the threat was made on the last day of Trump's NATO summit in Ankara, amid increased tensions between Iran and Turkey. The Secret Service considered the threat credible and imminent, prompting a special operation to hide the U.S. President's movements. Source refused to reveal where the intelligence originated. Source: Trump and a small group used a catering van to secretly switch from a large blue-and-white Presidential aircraft to a smaller nondescript C-32A?jet to fly out of Turkey, while Air Force One left separately with senior administration officials, White House Staff, and traveling press corps. Trump said to reporters that the switch was made at the direction by the Secret Service, the agency responsible for presidential security. He made a fuel stop in Britain after flying from Ankara. Trump said to reporters without providing any evidence that the plane he flew in was actually at higher risk. "I believe it was at greater risks because I think they would more likely go after that plane." The Washington Post reported the details of this operation for the first time in this week's edition, over a month after its?conduct. The New York Times reported on how U.S. officials had been alarmed by the discovery that Iranians were aware of where Trump stayed in Ankara and even which floor he was staying at. The'source' said that U.S. Sec. of State Marco Rubio was on board the Air Force One jet, which is now being used as a decoy. Also aboard were Treasury Secretary Scott Bessent, White House Communications Director Steven Cheung and other aides. There was also the usual 13-person media pool including a reporter and photographer. Sources said that White House deputy chief-of-staff Dan Scavino and director of Oval Office Operations Walt Nauta travelled in the catering truck along with Trump. Media commentators and legislators have questioned if the 'operation' put Trump's aides, journalists and other passengers on board the plane that was presumed to be carrying the president at risk. Sources said that Trump was determined to keep this ruse secret, as tensions with Iran escalated. Iran borders Turkey. Turkish officials have not commented on the threat immediately.
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Ship recycling company GMS purchases two tankers that are subject to US sanctions
GMS, a Dubai-based company, has received approval from the U.S. The government has approved the scrapping of?two oil tankers that were damaged by sanctions. This comes a few months after the ship recycler secured agreements to recycle four container ships. In recent years the use of shadow fleet tankers, also known as "shadow fleets", has increased, with hundreds transporting Iranian and Russian oil without any safety or insurance checks. The major shipowners are calling for the faster demolition of these vessels. They warn that they pose serious environmental and safety hazards. 'DESTINED TO RESPONSIBLE RECYCLING GMS, which purchases ships and recycles them at regulated yards, mostly in Asia, has received U.S. licenses for two tankers on 8 August, according to Yogesh Rehani. "GMS conducted business with the U.S. Government, and GMS did not pay any money to the previous owners sanctioned by the government. Rehani stated that the vessels were now headed for recycling, but did not provide details about the price paid. The government cannot keep a seized tanker in its custody forever without incurring any cost or risk to operations. Delaying disposal not only increases costs, but also decreases value every day. All of this falls on taxpayers. A spokesperson for the U.S. Treasury said that "the U.S. has committed to finding responsible solutions" to remove sanctioned vessels from the water. The case is assessed on an individual basis. GMS confirmed that the two tankers were the Marinera & the Galileo. In?January 2026, the U.S. took possession of the Russian-flagged Marinera (formerly known as Bella-1), as part efforts to reduce Venezuelan oil exports at that time. In January, the?Galileo (previously?called Veronica) was also seized as part of U.S. actions against Venezuela. Seizing a ship is a quick way to enforce the law, but the actual vessel still needs to be managed. Rehani explained that it requires security, "crewing, maintenance and marine services, as well as a final destination." GMS's role is to ensure that the disposal of waste is done responsibly, where the authorities in the U.S. Authorities determine that recycling is the best way to remove defaulters from the system, and prevent them from reentering the nefarious business. GMS announced earlier this year that it had received approval from the United States to scrap four containers ships which were subject to sanctions related to Iran. Jonathan Saul, Timothy Gardner. Mark Potter (Editing)
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Air Canada shares rise after a loyalty program deal, and the airline expects a strong fall season.
Air Canada announced on Wednesday that it expects 'one of its strongest fall seasons ever, thanks to corporate travel. Despite cost pressures, the airline set its latest core profit target for this year below analyst expectations. Air Canada's shares rose 14% during morning trading following an agreement by funds to acquire a minority stake of its loyalty program Aeroplan. Canada's largest airline restored its annual core profits target on Tuesday. However, it was at a lower level compared to its previous suspended outlook due to the volatility of the U.S./Israeli war against Iran. Mark Galardo, Air Canada's Chief Commercial Officer, told analysts that the company was looking at "a very positive setup for the Fall, one of the strongest (ones) we've seen in recent history." As corporate travel increases in the fall, there is less seasonality for the carrier. RISE IN LABOR AND FUELS?COSTS U.S. travelers and Canadians continue to travel internationally and spend on premium airline offerings. This helps North American carriers, whose balance sheets are being squeezed by higher fuel and labor costs and the war in the Middle East. John Di Bert, Chief Financial Officer of Air Canada, told analysts that he expected the airline's cost to increase more slowly in the second half of the year. Unit costs are set to rise between 4% and 5%. The adjusted cost per available mile increased by 6.55% in the first half of this year. The company anticipates a core adjusted profit between C$2.9 billion and C$3.2 billion in 2026. It had previously projected C$3.35 to C$3.75 Billion. According to LSEG data, analysts expected an average of C$3.23billion. The cost of aircraft jet fuel accounts for roughly a quarter (or more) of the operating costs of airlines, which makes them susceptible to sudden increases or swings. Air Canada anticipates that it will offset approximately 60% of the additional jet fuel costs incurred in the third quarter compared to its initial assumptions, before the Iran War began late February. Hedging gains are included. It is expected to offset all fuel cost increases for the fourth quarter. Air Canada announced Tuesday that funds managed Blackstone and by three Canadian funds made a C$2.5billion minority equity investment into the loyalty program Aeroplan of the carrier. The proceeds would be used to help pay down debt. Michael Rousseau, CEO of the company, told analysts that this transaction "simply strengthens our balance sheets and creates value for all stakeholders." Fitch Ratings changed its outlook on Air Canada's rating to positive, from stable. The deal with Aeroplan was cited as the reason for the change. They also confirmed the issuer default rating of BB.
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Russia claims that the Ukrainian attacks are driving up food prices globally, leading to grain shortages
Russian claimed on Wednesday that Ukrainian strikes against its grain and agricultural infrastructure were causing global food prices to rise - and exacerbating the grain shortages. This, it said, served some Western countries' interests. Maria Zakharova, a spokeswoman for the Russian Foreign Ministry, made her comments after a wave Ukrainian strikes on Russia’s Black Sea Port of Novorossiysk, which killed three people, including a young child, and caused major grain terminals in the city to cease working. Zakharova stated: "It's evident that the Kyiv regime is pursuing a cynical campaign of military aggression to create chaos on the global food markets... in order to serve the interests of certain Western countries." Zakharova stated that "all this increases the shortage of...grain and fertilisers and fuels the increase in global food prices." Zakharova added, "All of this exacerbates the...shortage of...grain and fertilizers, and increases burden on countries of the Global South and East who are held hostage because of irresponsible policy of the....players". Ukraine escalated this summer its attacks on Russian economic infrastructure, which it claims is the foundation of 'Moscows' military campaign against Ukraine. This included striking agricultural export infrastructure. Russia is?the largest wheat exporter in the world. The Russian attacks on Black Sea ships have also drastically reduced grain shipments out of Ukraine, which is a major grain supplier. Ukraine's Agriculture Ministry reported that shipments fell 76% during the first two weeks of August compared to a year ago. The price of grain futures spiked Wednesday after the Ukrainian strikes in Novorossiysk. Reporting by Felix Light, Editing by Andrew Osborn
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Etna ash causes Catania airport to be closed for longer, disrupting travel during peak season
As ash from Mount Etna continues to erupt, Catania's airport has been forced to suspend flights again on Wednesday. This is a major disruption for travel during the peak summer holiday season. SAC, the airport operator, said that air traffic will be suspended until 1400 GMT Thursday after the aviation authorities extended the closure of affected airspace around east Sicily. Passengers should check with their airlines to confirm the status of their flight. SAC stated in a press release that further updates would be provided in the next few hours. Flight cancellations and delays were reported in Malta overnight as volcanic ash drifted down the Mediterranean. The situation appeared to have improved on Wednesday although the Malta International Airport warned passengers about possible disruptions. Mount Etna is Europe's highest and most active volcanic cone. It frequently disrupts Catania Airport, Sicily's primary gateway, and Italy's 5th busiest airport in terms of passenger traffic. Since last week, eastern Sicily has been experiencing travel disruptions due to the ash caused by renewed volcanic activity. During one of the busiest tourist seasons, the prolonged restrictions at Catania has placed an additional strain on the other airports in?Sicily. Roberto Lagalla, Palermo's mayor, said that the airport of his city had taken in 190 flights scheduled to depart or arrive from Catania?in recent days. After arriving in Palermo, some passengers complained that they were not provided with adequate assistance for their onward transportation. The demand for taxis and buses soared. Operators said that extra traffic also caused delays in the?Palermo Airport. Italian news agency ANSA reported that Comiso Airport, which is a smaller airport south of Catania, has resumed full operations following a suspension of flights due to Mount Etna ash on Tuesday night. Giancarlo Pollina and Elvira Navach reported; Giselda Vasgnoni, Elaine Hardcastle, and Crispian B. Balmer edited.
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Saudi Red Sea oil exports are halted as Houthi attacks grow
Analysts say that all recent Yanbu loads have been done "darkly" to avoid being attacked by Yemen's Iran aligned Houthis. On July 20, the Houthis announced a maritime embargo on Saudi Arabia, opening a new front in the Iran War against the United States. Since then, they've claimed attacks against Saudi-linked oil tankers, Yanbu facilities, and most recently the Jazan refinery along the Red Sea Coast. This has led to more vessels operating without publically visible tracking data. Dark voyages, or the increasing use of them, obscure the visibility of Saudi oil exports and make it difficult to determine the extent to which Houthi threats could disrupt crude flow. The ship-tracking companies have?produced widely varying export estimates - a data that is used by the International Energy Agency (IEA), OPEC, and traders to assess and forecast global oil supply. Data analytics firm Vortexa reported that Yanbu loadings dropped to 2.38m barrels per day, from 2.71m the week before. Kpler predicted a more dramatic drop, to 1.78m bpd, from 4.04m, while AXSMarine estimated an increase to 850,000bpd, from 420,000bpd. Saudi Aramco has not responded to a comment request. CONDUCTED DARK The?those?trying to track shipments depend on a vessel appearing again on tracking systems after it has left the area of high risk, using satellite data for cross-checking movements and trying to fill in any gaps. Last week, all Yanbu liftings took place in the dark. "We're not currently seeing any loadings that have Automatic Identification System (AIS)," said Vortexa analyst George Morris. Kpler analyst Nhway Khin Soe stated that about 70% of Saudi west-coast loadings in the last few weeks were dark. He added that all Yanbu cargoes 'loaded since July 23, involved vessels without continuous AIS cover. Two years of Houthi attacks against commercial shipping in the Bab al-Mandeb strait, at the southernmost tip of the Red Sea, had already affected the flow of traffic. Kpler data shows that 32 vessels per day averaged transiting the waterway in the past week. This is down from 50 vessels a days before the Houthi group announced their latest blockade. Saudi Arabia is sending more oil through the Red Sea via the Suez Canal and Egypt's SUMED Pipeline, which connects Ain Sokhna, on the Red Sea coast, to Sidi Kerir, on the Mediterranean. Morris, Vortexa’s?spokesman, said that the average number of crude and condensate loadings at Sidi Kerir was 2.17 million bpd, which is around 50% more than the previous week. About 90% of total volumes were Saudi crude. War risk insurance costs have risen in recent days, and tanker companies also change their sailing strategies. Major oil tanker operator DHT had previously departed the Red Sea via Bab al-Mandeb to lift oil. Svein Moxnes Harfjeld, CEO of DHT, said in a recent earnings call that "that has become more challenging." It's fair that most VLCC (supertanker), not just ours have moved north and northwest.
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YPF's oil exports via VMOS have reached 180,000 bpd since January
Chief Executive 'Horacio 'Marin announced on Wednesday that Argentine oil Company YPF will begin exporting?180,000 barrels a day via a port located in the Rio Negro Province?from january as part -of -the VMOS Project. Marin told the Vaca Muerta Investment Forum, in Buenos Aires, that "we will begin exporting in January. First, we will export 180,000 barrels a day. Then, 360,000 barrels a day by mid-year, and then 550,000 barrels a day in 2028." He added, "We're already looking at expanding our production to 700,000.?barrels a day." VMOS, a consortium, includes YPF and Vista Energy Argentina, as well as Pampa Energia, Pan American Sur and other companies. The group is building a pipeline of 437 km to?transport crude oil from the Vaca Muerta shale in Neuquen Province to a port in Argentina's Atlantic Coast in Rio Negro Province. Vaca Muerta has one of the largest shale-oil?reserves in the world. Argentina's government expects?Vaca Muerta to reduce energy imports, which are expensive, and boost economic growth. In 2025, the country had a surplus in energy trade of $7.8 Billion. Analysts estimate that the surplus could reach $11 billion by 2026, if oil prices continue to rise this year due to the Middle East conflict. Marin, speaking?about a liquefied gas (LNG export project), said YPF expected to finalize an agreement by the end of the year with Italy's Eni, and XRG, the international investment arm?of Abu Dhabi National Oil Company. The project will have an annual LNG production capacity of?12 million metric tonnes, with the possibility to increase to 18 million. Marin stated that tenders have already been launched to build a processing facility in Neuquen where oil and natural gas will be separated. He also said that a 48 inch-wide pipeline for natural gas would be built, which he called Argentina's largest. He added that tenders for the pipelines themselves should be launched in two months. The pipeline has a capacity of 100 million cubic meters per day. (Reporting and writing by Eliana Razewski, Isabel Teles, Kyry Madry; editing by Kyry Madry).
Source: Credible missile threat led Trump to secretly switch aircraft
The Secret 'Service' was prompted by the threat that Air Force One could be attacked by a shoulder fired missile to secretly transfer President Donald Trump on an unmarked government plane during a recent trip to Turkey, according a person who has been briefed about the issue.
Source: The threat was made on the last day of Trump's NATO summit visit in Ankara amid increased tensions with Iran. Secret Service determined that the threat was credible and imminent. This prompted an extraordinary operation designed to hide the U.S. President's movements. Sources declined to reveal where the intelligence was gathered, but claimed that officials were pressed for time and had to devise plans in the last moment.
Source: Trump and a small team of aides secretly switched from the large blue-and-white presidential aircraft to a smaller and more unassuming C-32A jet on the flight out of Turkey, July 8. Air Force One, which was carrying senior officials of the administration, White House staff, and the traveling press corps, departed separately.
Trump said to reporters that the Secret Service is responsible for the security of the president. He was able to fly from Ankara, Turkey to a refueling station in Britain without incident.
Trump said to reporters that he believed the plane he flew in was at greater danger, but did not provide any evidence. "I believe it was at greater risk, because I think they'd be more likely go for that plane." In order to maintain their security, U.S. Presidents, including Trump have sometimes traveled in secrecy while visiting war zones or regions with high risk. But these trips usually involved journalists travelling with the president being given advance notice. Some journalists were given advance notice of President George W. Bush's Thanksgiving 2003 trip to Baghdad. Those covering Bush's holiday in Crawford were also misled. After being told that Bush would be spending Thanksgiving with his family, the press was'shocked' when he suddenly appeared in Iraq. Sources said on Wednesday that the Secret Service didn't have time to spend in Turkey. The source stated that the Secret Service was scrambling in order to stop what they believed to be a credible and imminent threat.
The Washington Post?reported details of the operation for the first time this week, over a month after its execution.
The New York Times reported?U.S. Officials were shocked to learn that?Iranians knew exactly where Trump stayed in Ankara and even the floor of his hotel.
The source claimed that U.S. secretary of state Marco Rubio was on board Air Force One, which is now being used as a decoy. Also aboard were Treasury Secretary Scott Bessent, White House Communications Director Steven Cheung and other aides. There were also the usual 13-person media pool including a reporter and photographer.
Sources say that White House deputy chief staff Dan Scavino and executive assistant Natalie Harp, as well as director of Oval Office Operations Walt Nauta, travelled in the catering truck to meet Trump.
Media commentators and legislators have questioned if the operation put Trump's aides, journalists and other passengers on the plane that was presumed to carry the president at risk.
Sources said that Trump was determined to keep the plan secret, as tensions with Iran, which borders Turkey, escalated. Turkish officials have not commented on the threat.
(source: Reuters)