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Ryanair emergency landing in Germany: Nine injured
Nine passengers were injured when a Ryanair flight bound for Milan was forced to land in southern Germany due to heavy turbulence caused by a thunderstorm late on Wednesday. Bavaria Police said that the pilot initiated the emergency landing after the bad weather forced him to do so. Police said that among the injured were: a woman with a head wound, her toddler of two years who received bruises, and a woman aged 59 who complained of back pain. The three victims were all treated in hospitals, with other injuries being treated on the spot. In a Thursday statement, Ryanair confirmed that the captain of the flight had requested medical help before landing. The airline said that it had arranged a replacement flight to take passengers to Milan, and apologized to those who were affected. In a statement issued on Wednesday, the police said that the airline had organised a bus shuttle because local aviation authorities hadn't cleared flights to other destinations. (Reporting and editing by Kim Coghill, Louise Heavens and Ludwig Burger)
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Wizz Air misses expectations with annual profit falling by over 61%
Wizz Air, the budget carrier, reported a profit for its annual operations that was below analysts' expectations on Thursday. This was due to capacity constraints caused by grounded planes as well as stubbornly high operating costs. Wizz Air's operating profit for the year was 167.5 million euro ($191.05 millions), down 61.7% compared to the previous year and below the 246 million euro forecast by LSEG analysts. European airlines are warning of the long-standing delays in delivery and the uncertainty surrounding maintaining demand post-COVID as the world is facing economic turmoil linked to President Donald Trump’s tariff threats. The sector has, however, largely benefitted from lower fuel costs. Wizz Air has had to deal with Pratt and Whitney engines that have caused problems, which have limited its capacity. In the past year, it has warned twice about its profitability. The company announced on Thursday that it will not be providing guidance for 2026, at this time of year, due to limited visibility in its trading seasons.
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Ryanair emergency landing in Germany: Nine injured
Nine passengers were injured when a Ryanair flight bound for Milan was forced to land in southern Germany due to heavy turbulence caused by a thunderstorm on Wednesday night. A police statement in Bavaria stated that the pilot was forced to land in an emergency in Memmingen (about 70 miles west of Munich). Police said that while the plane landed without incident, nine people aged between two and 59 years old were injured by the air turbulence. The statement stated that a woman suffered a head injury. Her two-year old child also received bruises, and 59-year-old women complained of back pain. All three were treated in hospital. The statement said that other injuries were treated at the scene. Police said that the airline has organised a bus to Milan as local aviation authorities have not cleared flights out of Memmingen. (Reporting and editing by Kim Coghill; Ludwig Burger)
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Bousso: Trump's China ethane import curbs are another self-harm exercise.
Trump Administration seeks license for ethane imports to China China is responsible for 46% US ethane imports Plastics are made from ethane Ron Bousso LONDON, 6th June - The Trump Administration's latest attempts to curb U.S. exports of petrochemicals to China may end up harming the U.S. economy just as much or even more than China. The boom in plastics feedstocks between the two world's largest economies is an excellent example of how a global, dynamic trading system can benefit both parties. The U.S. ethane industry has grown rapidly in recent years. This excess production was met by an expansion of the overseas petrochemical market, especially from China. Trump exempted all energy products from the "Liberation Day", sweeping import tariffs, on April 2. This was an apparent indication of Trump's administration's concern about the potential impact energy levies may have on consumer prices. Enterprise Products Partners, a top U.S. operator of marine export terminals of liquid natural gas, announced on May 29 that an agency of Commerce had notified it that the company would now need a license to export butane and ethane to China because of the "unacceptable" risk that China could use the products for military purposes. About 40% of the 213,000 barrels of ethane per day that Enterprise's main terminal exported last year was shipped to China. The company claimed it was unable to determine whether it would be able to obtain a license. The U.S. move was the latest in Washington's high stakes trade war against Beijing. It seemed to have cooled somewhat after both sides met in Geneva in late November and agreed to a 90-day ceasefire to reduce triple-digit tariffs. The rash nature of these trade war salvos is evident in the export restrictions, especially on ethane. Ethane is a natural gas byproduct that's used to make the building blocks of plastics. There is no evidence that China's military uses ethane and butane beyond obvious dual-purpose use in plastics, heating fuel, or refrigerant. The notice of the export license did not mention polyethylene, a material that ethane can be used to produce. It is clear that the loss in ethane from the United States will harm China's petrochemical industry. China reportedly exempted U.S. ethane in April from the reciprocal 125% tariff it imposed on U.S. imports. This was done to relieve pressure on China's petrochemical industry. The curbs are cut in both directions. Self-Inflicted Wound According to Energy Information Administration, ethane production will reach a record 2,83 million bpd by 2024. This is a nearly threefold increase from 2014. The surge in U.S. onshore shale gas production was the main driver. According to the EIA, the U.S. exports of ethane have increased 13-fold over the past decade, reaching 492,000 bpd. Of that amount, 46% went to China. According to Kpler, China imported 261,000 bpd of ethane from the United States last year. China is the only country that can absorb U.S. ethane at an increasing rate. According to the Oxford Institute of Energy Studies, China's capacity to produce ethylene is expected to increase to 80 million tons annually by 2028, up from 55 million ton per year in 2024. This represents 50% of global new capacity. India and Thailand are likely to become new markets for U.S. exports of ethane, but this will take time. The United States is increasing its ethane terminal capacity. However, the importing countries in Asia will need years to build their import terminals and ethane vessels. Losing the U.S. feedstock of ethane will definitely erode profit margins for petrochemical producers in China. They will have to rely on more expensive feedstock naphtha or import ethane directly from smaller exporters. This could result in temporary plant closings under certain circumstances. It is unlikely that it will have a significant impact on the growth trajectory of this sector in China. According to Sinopec’s Economics and Development Research Institute’s 2024 annual report, around 70% of China’s total ethylene capacity uses naphtha. Ethane and liquid petroleum gases make up only 8%. A halt to ethane imports to China would have a domino effect on the United States, where domestic inventories would build up and force producers to reduce ethane production in shale basins. The profitability of oil and natural gas drilling operations could be affected. This could result in an excessive amount of ethane being present in natural gas. The cost of producing liquefied gas, which is a major U.S. business, would increase. It is possible that the Trump administration's ethane restrictions will achieve its goal of harming China's Petrochemical Industry, but at a cost to China's Oil and Gas industry. Want my weekly column, plus trending energy stories and additional insights delivered to your inbox? Subscribe to my Power Up Newsletter here.
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Maguire: Europe's dispatchable energy woes are worsened by a new hydro power hit
The mix of power generated in Europe is likely to become dirtier this summer, after a prolonged dry spell has depleted the reservoirs and reduced hydro-electricity production. The hydro dams of Europe are the third largest electricity generator in Europe after nuclear and natural gas plants. Their annual production peaks just before summer, as spring rains and snowmelt recharge dams and rivers systems. This network of run-of river hydro plants and reservoirs is typically used to generate so-called dispatchable energy, which can then be discharged by grid operators on demand in order to balance the system's power needs. Ember data shows that a persistent drought this year has reduced hydroelectricity production by 13% in the first five month of 2025 compared to the previous year. This is the lowest May level since 2017. The shortfall in hydro power has forced utilities to use other sources of dispatchable energy, including coal and natural gas plants. These may have to be used at higher levels this summer, if hydro production remains stunted. HIGH & DRY The hydro problem this year has been exacerbated by the below-normal snow coverage in Europe's Alps. A model of the snow-fed generation potential by LSEG estimated that the output of the Alps is about a third lower than the long-term mean so far this season. LSEG data indicates that the Danube Catchment Area, one of Europe's major river-fed hydro systems, has also suffered from a lack of spring rains, with production generation potential over 60% below average. HYDRO HIT According to Ember, the combination of precipitation and snowfall below average has resulted in a 13% decrease in the cumulative production of hydro-powered energy from January to May 2024 compared to the same period in 2024. The 71 Terawatt Hours (TWh), or the amount of electricity produced by Europe's hydroelectric plants, was the lowest output for May in the last three years. It was also 11 TWh below the total production of the same month one year earlier. The hydroelectricity output from January to May this year was 48.5 TWh lower than in the same period of 2024. This has reduced the hydropower's share in Europe's electricity production mix from 19% in the same months of 2024 to 16.7% in the first six months of 2018. FOSSIL FIX In order to offset the decline in hydro-generation, and a 36 TWh reduction in the cumulative output of Europe's wind farm so far this season, European power companies have been forced to increase fossil fuel generation. Ember data show that the output of gas-fired power stations was 31 TWh or 7% higher than January to May 2024, and coal-fired plant output was 12.5TWh or 5% higher. If hydro production is constrained and power demand stays at the same level, European utilities will need to increase coal and gas plant output. The output of Europe's nuclear reactor fleet can be increased in order to compensate for the decrease in hydroelectric plants. However, the regional nuclear power production could be limited if river temperatures in the region rise during potential heatwaves. This would reduce their ability as a cooling water source for reactors. This means that Europe's gas- and coalfired power stations will remain the main source of dispatchable energy through the summer. Especially if the dry weather conditions of this year continue. These are the opinions of a columnist who writes for.
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Iraq's Kurdish government is legally responsible for the continued oil smuggling
Iraq's Oil Ministry said Thursday that it holds the Kurdish Regional Government (KRG), legally responsible for continuing to smuggle oil out of the Kurdish Region. It added that the ministry reserves the rights to take any legal action in this matter. The control of oil and gas is a long-standing source of tensions between Baghdad, Erbil and other Iraqi cities. Iraq is being pressured by the Organization of Petroleum Exporting Countries (OPEC) to reduce its output in order to compensate for producing more than the agreed-upon volume. OPEC counts the oil flowing from Kurdistan towards Iraq's quota. In a ruling from 2022, the Iraqi federal court declared unconstitutional an oil and gas regulation law that regulated the oil industry of Iraqi Kurdistan and demanded Kurdish officials hand over their crude oils. Baghdad was forced to reduce production in other fields to meet OPEC quotas because the KRG failed to follow the law. The ministry said it had warned the KRG that failure to comply could lead to significant financial losses, and damage the country's reputation abroad and its oil commitments. The negotiations to resume Kurdish crude oil exports through the Iraq-Turkey pipeline, which handled 0.5% of world oil supply at one time, have been stalled due to payment terms and contractual details. (Reporting from Ahmed Rasheed and Jana Choukeir, both in Baghdad and Dubai; editing by Clarence Fernandez & Sonali Paul).
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In May, Asia's fuel imports from Iraq reached a 4-month high.
According to analysts, trade sources and Kpler data, Asia's fuel imports from Iraq reached a four-month peak in May, as high refining margins increased output and exports. Baghdad's crude oil shipments are being cut to meet its commitments to OPEC+. Kpler data shows that Asia's fuel imports from Iraq reached 910,000 metric tonnes (or 186,400 barrels per day) during May. This was the highest level since January, and was up more than 40% from the month before. The Iraqi State Oil Company SOMO has not responded to a comment request. The surge in Iraqi exports follows a record-high increase in the refining premiums for Dubai crude oil, which reached 380-cst last month. A Singapore-based fuel oil dealer said that the cargoes were sent to Singapore for blending into the bunker pool, as demand for HSFO is low at Asian refineries. Iraqi fuel oil has a high sulphur content and can be refined into products with a better value by refiners or blended into marine fuel by traders to be used by ships. Iraqi fuel oil exports have increased in recent years. They reached a new annual high last. Trade sources reported that the supply influx in recent months has impacted Singapore HSFO bunker price and reduced profits for bunker suppliers, as ex-wharf 380cst spot bunker differentials have fallen to discounts on fuel oil quotations. The seller must transport the bunker fuel to the wharf. This is the dock, or terminal where the cargo can be loaded and unloaded. Analysts and traders said that Iraqi shipments will drop in the next few months, as refiners have reduced their margins on producing high-sulphur oil (HSFO), while demand for electricity in Iraq is expected to increase in the summer. Palash Jain is a Middle East oil market analyst at FGE. He said that export volumes will likely decline if economic conditions worsen. He added that Iraq will burn more liquid fuels to generate electricity in the summer months than last year. Based on LSEG data, the refining margins for HSFO are now closer to parity with crude prices.
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US Senate committee considers nomination of Republic Airways CEO as FAA head
The U.S. Senate Commerce Committee announced on Wednesday that it will hold an 11th of June hearing to discuss President Donald Trump's nominee for the Federal Aviation Administration, Bryan Bedford, CEO of Republic Airways. Bedford, an industry veteran with more than 30 year's experience, was nominated for the position in March. He previously led two other carriers, and oversaw significant expansions of Republic Airways which operates regional flights on behalf of American Airlines, United Airlines, and Delta Air Lines. Republic, based in Indiana, is one of North America's largest regional airlines. It operates a fleet of over 200 Embraer aircraft and 900 flights per day in the United States of America and Canada. Mesa Air Group and Republic agreed to merge in April as part of an all-stock transaction. Transportation Secretary Sean Duffy asked Congress to provide tens billions of dollars for the modernization of an aging U.S. Air Traffic Control System to alleviate airport congestion, flight delay and a lack of 3,500 certified air traffic controllers. Years of problems have plagued the FAA's air-traffic control network. But a series of high-profile incidents, near-misses, and a January crash involving a PSA Airlines-operated American Airlines regional aircraft and an Army helicopter that killed 67 people prompted new calls to action. The next FAA administrator faces challenges in overseeing Boeing, and determining when to lift a cap on production of 737 MAX planes at 38 per month, imposed following a mid-air emergency that occurred in January 2024. Last month, the FAA convened a task force to address an emergency and take urgent action to prevent further telecom outages in Newark's air traffic control facility. Three incidents had shaken public trust and caused hundreds of flight disruptions. On April 28, controllers who were overseeing planes near Manhattan's busy airport lost contact with them for 90 seconds. This incident was alarming. The FAA reduced the number of flights at Newark to 28 arrivals per hour and 28 departures an hour until runway construction is complete. Duffy wants to see new funding allocated to airport equipment that will prevent near miss incidents, and to create new incentives for air traffic controllers to increase their hiring and retention. At least $31 billion has been requested by airlines and other parties. The U.S. House of Representatives has passed legislation which includes $12,5 billion in initial expenditures on air traffic reform. This includes $2.5 billion to replace air traffic towers and contract-towers. Reporting by David Shepardson, Editing by Jacqueline Wong & Jamie Freed
Retailers scramble to save the US summer shopping season
After Washington and Beijing agreed on a temporary tariff cut, U.S. retailers such as Walmart and several clothing companies are racing to get China-made products for the busy summer season that begins in late May. According to Portless, the logistics company that helps U.S. brands import goods via air from China, orders for sundresses as well as bathing suits, clogs, and sunscreens have increased since Monday's agreement between Washington and Beijing to temporarily lower tariffs.
Izzy Rosenzweig is the CEO of Portless. Portless counts Hapari swimwear and bug repellent manufacturer NatPat as clients. "They said, 'let's resume production and shipping.'
John Harmon, managing Director of Technology Research at Coresight Research said that U.S. companies rely heavily on ocean shipping. However, it can take up to 60 days to get goods from China to the United States, depending on their destination and the size of the ship. Orders for summer can be placed in the late winter or the early spring, to allow time for new designs to be manufactured.
Typically, U.S. retailers begin importing merchandise from China two to three months prior to Memorial Day this year. After U.S. President Donald Trump slapped Beijing with retaliatory fentanyl and tariffs totaling 155% on April 9, many U.S. firms paused orders. According to Vizion, data from brokerage TD Cowen on container bookings to the U.S. from China in the final week of April fell by nearly 50%.
Harmon says that it could take a while to restart supply chains following the April pause.
"It's been super busy the last two days," said Liu. A toy maker from Dongguan, an export hub in Southern China who declined to reveal her full name out of respect for her privacy.
"We're booking containers, and some of our products are already on their way to Shenzhen Port." "In recent months, there were fewer trucks on the road, but today, there's a traffic jam heading to the port," Liu said. Liu serves Walmart, which is the largest importer of container goods in the United States.
CONTAINER COSTS WORRIES
Freight rates are not rising despite the rush to get goods to the U.S. Freightos data shows that the spot rate for a 40-foot (12-meter) container to be sent from China to U.S. West Coast increased 3% on a week-to-week basis to $2,395 Monday. This indicates that businesses are not flooding shippers with orders.
The price is now half what it was in February when large companies were stocking up to avoid the tariffs that Trump had promised.
Companies like Bogg Bag, however, are beginning to worry about container costs going through the roof. Kim Vaccarella said that the CEO of a tote bag maker sold by retailers such as Target has accelerated production for her China-made bags to ensure they arrive in New Jersey as soon as possible. She has chosen to focus on a few products that are popular instead of launching many new items at once. This allows them to move quickly. Walmart, who reported earnings on Thursday, as well as Costco and Target, rival retailers, front-loaded their orders at the beginning of the year. CFRA research analyst Arun Sunderam wrote on May 13 in a note.
Sundaram reported that Walmart's inventory rose by about 3% during the quarter ending January 31. This was the first increase in almost two years.
In the three-month period ending in February, Costco's inventories rose by nearly 10%. Zumiez, a retailer of surf and skateboard clothing, saw their inventories rise about 14%. Target's inventory rose by 7% in the same time period.
Sundaram, a freight expert who anticipates an increase in freight prices, says that while the tariff reprieve on Monday is likely to be a boon for U.S. companies eager to stockpile summer merchandise, it may also create supply-chain congestion, although this will probably be less severe than the pandemic year of 2021-2022. On Wednesday, some Halloween decor manufacturers said they'd have to rush to make and ship hanging skeletons as well as costume props into the United States before the 90-day deadline.
Gene Seroka said that businesses might not be able prepare fully for the summer as well as back-to school in July, which is another major retail season.
Right now, we are looking at the final orders that will be sent in for back to school and perhaps some orders for summer fashion. Seroka explained that the situation was very tight.
Stephen Lamar of the American Apparel & Footwear Association (of which Adidas America is a member) warned of congestion in ports if companies rushed to import goods.
The tariff war has caused a delay of a month in the shipping back to school. Lamar said that school districts cannot delay the start of school for a whole month. (Reporting from Siddharth Cavale in New York, and Casey Hall and Jessica DiNapoli at New York; Additional reporting from Lisa Baertlein and Matthew Lewis in Los Angeles. Editing by Lisa Jucca & Matthew Lewis.
(source: Reuters)