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UK airports affected by an air traffic control issue
The British air traffic controllers announced a technical problem that caused flights to be disrupted at London's major airports and other locations in the UK on Wednesday. However, they later reported the issue was resolved. Our engineers have restored the system which was affected today afternoon. NATS posted on X that they were "in the process of resuming regular operations in the London region". Heathrow Airport reported that all departures were halted. Gatwick Airport stated that the problem affected all flights departing the UK. In a statement posted on X, it stated that "there are no departures at London Gatwick until the situation has been resolved." London City Airport posted on X as well that the same problem affected flights at London City Airport. Edinburgh Airport said that departures are currently on hold pending further information from NATS. (Reporting and writing by Sam Tabahriti; editing by William James).
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ITA Airways' business plan aims for long-haul expansion and deeper Lufthansa ties
In a Wednesday statement, ITA Airways said that the board had approved a business plan for 2026-2030, which focuses on long-haul growth, fleet renewal and closer integration with Lufthansa. Italian airline, owned by the Italian government in majority and by Lufthansa at 41%, plans to expand intercontinental flights from Rome to North America, South America and Asia to increase tourism and trade. The airline plans to upgrade its fleet by adding one new long haul aircraft every year starting in 2026. By 2030, it hopes to operate around 100 Next-Generation jets. ITA is expecting deeper synergies between Lufthansa and ITA, including joining Star Alliance by 2026 and taking part in joint ventures on transatlantic and Japanese routes. "We are laying down the foundations to continue to be Italy's reference airline with a role strategic for the national economy system and to improve connectivity with the rest the world," stated chairman Sandro Papalardo. ITA CEO Joerg eberhart said that the strategy will create jobs and have a positive impact on the industry. (Reporting and editing by Angelo Amante)
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Transportation strike in Tunisia increases pressure on President
Transport services were halted in Tunisia Wednesday as workers demanded better working conditions, higher wages and urgent reforms. This added pressure to President Kais Said to address the deepening crisis. Tunisians have suffered from poor public services for many years, particularly in the sectors of health, education, transportation and investment due to a lack of funding and public investments, as well as frequent interruptions in water and electricity supply. Saied, a man who has been in power since 2021 and tightened it, accuses those he believes are conspirators, seeking to undermine the government and exacerbate social tensions. The three-day strike by the UGTT union disrupted everyday life in major cities as well as rural areas. The metro stations and buses in Tunis were deserted, forcing commuters into private cars, unlicensed motorcycle cabs, and taxis. "We suffer." "There is no transport, we have no jobs, and things are getting worse and more expensive," said Ayman Amiri in the capital as he stood at a bus stand. Transport unions, who claimed that the first day of the strike had been a 100% success, have said that the sector is collapsing. The Ministry of Transport stated that the union's demands for financial compensation were unjust and would not be met until revenues of the public transport companies increased. The ministry also stated that the recent purchase of hundreds buses from China, Europe and other countries would improve service. (Reporting and editing by Barbara Lewis; Tarek Amara)
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EU wheat prices rise, supported by high Russian rates
The price of European wheat rose on Wednesday, after the session had seen a sharp fall. This was due to strong Russian prices as well as concerns over Germany's crop. At 1335 GMT, the benchmark September milling wheat price on Paris' Euronext rose 0.4% to 197.50 euro per metric tonne. A trader stated that "Euronext's not increasing because funds are selling", citing high Russian prices. Russian farmers have started to sell their new crop more after a slow start. However, they are still demanding high price as many ships are waiting in export ports to load supplies. In the next few days, a cargo of 63,000 tons wheat bound for Egypt is expected to arrive in French ports Rouen and La Pallice. Egypt's State Grain Buyer said in late June that it expects wheat shipments to come from France and other European nations as it continues its efforts to diversify the supply sources and bolster Egypt's strategic reserves. The traders were skeptical that large volumes of exports delayed had been shipped to other countries to supply. Traders said that the repeated rains in Germany and Poland during this week have caused quality damage at the last minute to some wheat ready for cutting and disrupted harvesting. One German trader stated that the quality of German wheat has suffered some damage. Rain almost every day is the worst thing you can imagine. There is still the chance of a good crop, if weather conditions change. After all, most German wheat is harvested in August. In Germany, rain will continue to fall into the first week of next year. Rain has also disrupted the harvest in Poland. One Polish trader stated that "heavy rains in Poland and only a few sunny days have caused harvesting to be disrupted, and there is much uncertainty about the quality of wheat among farmers." "I estimate that only 20% of Poland’s wheat has been harvested. The results vary greatly from region to region." Farmers talk about low quality criteria (low falling numbers) in wheat. This may mean that more than expected of Poland's wheat crop will only meet animal feed standards. Mark Potter edited the article.
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BP continues to assess the quality of BTC oil as loading continues
BP, operator of the Baku, Tbilisi, Ceyhan (BTC), oil pipeline, announced on Wednesday that it would continue its extensive quality evaluation of Azeri BTC by taking samples at each loading terminal. Last week, organic chloride contamination was found in Azeri BTC cargoes. This caused a drop in price differentials of four years and caused several days delay in loadings at Turkey's BTC Ceyhan Terminal. Sources say that the extra testing has caused delays in part. A port agent said that after enough oil is poured into the BTC Ceyhan terminal to form a cargo, the test results are presented to charterers waiting to load in the port. Unknown is the total number of Azeri crude oil cargoes that have been contaminated by organic chloride. Austria's OMV, and Italy's Eni confirmed that the cargoes purchased by both companies were contaminated. BP said it worked closely with Azerbaijani Socar to manage off-spec crude stored at the terminal while export operations continue. Kpler, a firm that provides analytics services, reports that six Azeri crude cargoes have been loaded since the first report of organic chloride contamination on July 22. Reporting by Robert Harvey in London, Shadia Nasralla and Nailia bagirova from Baku. Lousie Heavens, Mark Potter and Lousie Heavens edited the report.
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Snam confirms its 2025 guidance and reports a 5.3% increase in core profit for H1.
Snam, the Italian gas grid group, said that its core earnings adjusted for inflation rose by 5.3% during the first half of this year. This was due to growth in its business in gas infrastructure. The company also confirmed its full-year guidance. The adjusted earnings before interest taxes, depreciation, and amortization (EBITDA), came to 1,49 million euro ($1.71 billion) during the period. Adjusted net profit increased by 8.5% on an annual basis, reaching 750 million euro. Snam published its industrial plan 2025-2029 for 2025 in January. It targets 2025 adjusted EBITDA at 2.85 billion euro and adjusted net profit of 1.35 billion euro. In a press release, CEO Agostino Scornajenchi stated that "Gas continues to demonstrate its strategic role as an energy vector for sustainable integration of energy".
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Old Dominion misses its second-quarter estimate amid freight recession
Old Dominion Freight Line, which operates in a long-term freight downturn, reported its second-quarter profit and revenue below Wall Street expectations on July 30. The U.S. trucking sector is struggling with low volumes, persistent overcapacity and low rates, as a result of the recessionary phase that began after the post-pandemic boom in 2022. Experts predict that the freight recession will continue through the second half. As the industry struggles to cope with the changing global macroeconomic climate, extra capacity is slowly leaving the market. Old Dominion says that the slow growth of domestic industrial production also has a negative impact on carrier results. Before the bell, shares of Thomasville's less-than truckload carrier (LTL), which serves companies in the manufacturing, retail, automotive, and healthcare sectors, fell 4.4%. LTL companies operate by transporting multiple shipments for different customers in a single truck. These shipments are then routed via a network service centers where they are transferred onto other trucks that have similar destinations. Operating expenses as a percent of revenue have increased to 74.6%, up from 71.9% one year ago. An increase in the operating ratio indicates an increase in cost, and therefore lower profitability. Total revenue for the company fell by 6.1%, to $1.41 Billion in the third quarter. Profit per share fell by 14%, to $1.27. According to data compiled and analyzed by LSEG, analysts on average expected revenue of 1,42 billion dollars and profit per share of $1.29. (Reporting and editing by Pooja Deai in Bengaluru, Abhinav Paramar from Bengaluru)
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IndiGo's first-quarter earnings are lower due to currency losses
Interglobe Aviation (the operator of IndiGo) reported a decline in its first-quarter profits on Wednesday. The company was hit by escalating forex losses as well as softer growth due to border tensions between India & Pakistan. India's largest carrier by market share posted a profit for the quarter ending April-June of 21.61 billion rupies ($247.2m), down from 27.27 bn rupies a year ago. The total expenditure rose by 10% and foreign exchange losses increased by more than double. Analysts say the carrier's success has been attributed to a combination of factors, including increased incomes, sustained travel demand post-pandemic, and continued network and fleet expansion. Booking cancellations in April and may following the border conflict between India, Pakistan and Afghanistan impacted the quarterly revenue growth. In June, following the political unrest in India, a rival airline Air India's plane crashed in Ahmedabad, killing 260 people. This caused flying anxiety in many Indians. Pieter Elbers, Chief Executive of Pieter Elbers Aviation said that the June quarter was marked by external challenges which created headwinds in the aviation sector. In terms of available seat kilometers, the company's capacity for the first quarter grew by 16.4% compared to last year. In May, the firm projected a growth of "mid teens percentage range". IndiGo was able to cushion a 5% decline in yields. Yields are the average amount of money earned per passenger, per kilometre. IndiGo shares closed down 0.3% ahead of the results.
Operator: Explosive device likely caused damage to Greek tanker near Libya last week
TMS Tankers, the Greek operator of the tanker, said that an external explosive device was most likely responsible for the explosion which damaged the Greek oil tanker Vilamoura last week as it was sailing near the coast of Libya. This conclusion is based on a preliminary investigation.
On June 27, the Marshall Islands flagged tanker Vilamoura was leaving the Libyan port Zuetina to head to Gibraltar, with around 1 million barrels oil. An explosion occurred in the engine room.
TMS Tankers stated that preliminary investigation findings indicate clearly that the explosion and subsequent fracture of side shell plating as well as the flooding of engine room was caused by an unidentified explosive.
Security at sea
Sources
Last week, it was reported that a limpet-mine may have been responsible for the explosion on Vilamoura. This is the fifth incident of this kind to occur in the past few months in the area.
After the explosion, the engine room was inundated and the vessel became unmanoeuvrable. However, it could be towed to Greece.
The operator said in a press release that the vessel had arrived safely in Laconikos Bay, Greece, and that its crew was in good health. (Reporting and editing by Renee Maltezou)
(source: Reuters)