Ground Transportation

The poor road conditions and protests by indigenous groups have caused the shipment of Brazil's bumper soya bean crop to be delayed this week at the port of Miritituba, in the Amazon rainforest. This is where major grain traders such as Cargill and Bunge operate. The demand for soy, which is produced and exported by Brazil, the largest producer in the world, has risen dramatically. China is the world's No. 1 soybean consumer, as traders prepare for a potential trade war that could discourage Chinese imports. Miritituba loaded 15 million tons soy and corn onto barges last year, bound for...

The United States BNSF Railway said on Wednesday that it received a preliminary report about a derailment of a train near Bay, a city in Arkansas' northeastern region. This area was also hit by tornadoes and storms earlier in the day. BNSF didn't specify the cause of the derailment but stated that the incident occurred around 6:50 p.m. on Wednesday. The railroad group stated that the mainline was affected by the derailment, and an estimate time for the reopening of the track has not been determined. On Wednesday, tornadoes tore across the central and southern United States, destroying houses and...

BNSF Railway in the United States said on Wednesday that it received a preliminary report about a derailment of a train near Bay, a city in Arkansas' northeastern region. The area was also hit by tornadoes and storms earlier in the day. BNSF didn't specify the cause of the derailment but stated that the incident occurred around 6:50 p.m. on Wednesday. The railroad group stated that the mainline was affected by the derailment, and an estimate time for the reopening of the track has not been determined. On Wednesday, tornadoes tore across the central and southern United States, destroying houses...

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Headlines - Denmark's Maersk buys Panama Canal railway Deutsche Bank's asset management manager fined 25 Million Euros over greenwashing scandal Steve Buck is named as the new Chief Financial Officer of Thames Water Greencore signs 1.2 billion pound deal with Bakkavor, a UK rival in the ready-meal market View the full article Canadian Pacific Kansas City and Lanco Group, based in the United States, have sold the Panama Canal Railway Company (PCRC) to a Danish Maersk unit. Maersk...

Crowley, a U.S. logistics company, said that only one tank of jet fuel was damaged when a U.S. military tanker transporting a shipment off England's north-east coast was hit by a cargo vessel. Stena Immaculate was anchored off Humberside on 10 March when the smaller Solong struck it. The explosions and fires started. Crowley, the company that manages the tanker said in a Sunday statement the third-party salvage crew had confirmed the damage was "limited to one cargo tank which contained Jet-A1 Fuel and one ballast container containing seawater". Stena Bulk, the owner of the vessel, confirmed Monday that it...

Some shipping companies move their operations discreetly out of Hong Kong, and remove vessels from its registry. Some shipping companies are making contingency planning to do this. Six shipping executives have said that these low-profile actions are motivated by a fear that their vessels could be seized by Chinese authorities, or face U.S. sanction in the event of a clash between Beijing and Washington. The people said that the growing U.S. scrutiny over the importance of China’s commercial fleet to a potential military conflict, such as one over Taiwan, and Beijing's emphasis of Hong Kong's role in serving Chinese interests...

Berkshire Hathaway, the company owned by Warren Buffett, posted its third consecutive record operating profit on Saturday. This was boosted by an increase in investment income and underwriting profits in its insurance business. Berkshire’s huge cash stake ended 2024 with a record of $334.2 billion. This was twice as much than a year before. Buffett stated in his annual letter to Berkshire investors that Berkshire prefers to invest in business than to hold cash. He also claimed that his Omaha-based conglomerate, though it posted lower earnings in 53% of the 189 businesses it operates, "did better than expected." He attributed...

The Trump Administration announced on Thursday that it will review the decision to rescind $4 billion in funding for California's High-Speed Rail Project. The project was approved by voters in 2008 for $10 billion, but costs have increased dramatically and President Donald Trump is a harsh critic of the effort. Under former president Joe Biden, the Transportation Department awarded more than $3 billion to this project. The initial estimate of the total project cost was $40 billion. However, that number has risen to $89 billion and $128 billion. California High-Speed Rail Authority has not yet issued a statement. Federal Railroad...

The Trump administration announced on Wednesday that it was rescinding its approval of New York City’s congestion pricing program, which aims to reduce traffic while raising billions for upgrading New York’s aging bus and subway systems. U.S. Transportation secretary Sean Duffy announced that the move would stop the program, which began on 5 January and charged most drivers $9 for entry into Manhattan. The program was designed to support the Metropolitan Transportation Authority. He criticised the toll system that "leaves motorists without any free alternative highway and instead takes more money from workers to pay for a transport system and...

Wabtec, a U.S.-based rail locomotive manufacturer, forecast a profit for 2025 that was largely below analyst estimates on Wednesday. The industry is battling sluggish demand for new trains due to the slowdown in freight traffic. According to data compiled and analyzed by LSEG, the company anticipates its adjusted profit per share to range between $8.35 and $8.75 in 2025, compared to analysts' average expectation of $8.62. The increased borrowing costs and higher prices have caused a decrease in consumer demand, which has led to a reduction in the freight volume that is transported by rail. Wabtec's Freight segment manufactures new...

New York's congestion pricing has led to 1 million total less vehicles going into the busiest part of Manhattan and cut commuting times because the program started on Jan. 5, a transit company said on Wednesday. The Metropolitan Transport Authority stated incoming trips times on all Hudson and East River crossings are now 10% to 30%. quicker or more, while bus service has actually likewise enhanced. Train. ridership has actually grown by 7.3% on weekdays and 12% on weekends over. January 2024. Under the program, passenger automobiles are charged $9 throughout. peak periods in Manhattan south of 60th Street. Trucks...

U.S. railroad operator Norfolk Southern on Wednesday published a quarterly earnings that beat experts' quotes, helped by cost cuts implemented to improve margins and betterthanexpected insurance recoveries related to an expensive derailment. Shares of the business were up 4% in early morning trading. Norfolk had taken a hit of about $1.4 billion in last two years due to a derailment in Eastern Ohio in 2023 that released over 1 million gallons of harmful products and toxins near the state's border. Norfolk carried out voluntary and uncontrolled task cuts last year that assisted balance out a few of that impact. Insurance...

Scientists said that a strip of Pacific Ocean seabed, which was mined more than 40 year ago for metals, has not recovered. This adds weight to the calls for a ban on all deep-sea mining during this week's U.N. led talks. Scientists from the National Oceanography Centre in Britain led a 2023 expedition by a team to the mineral rich Clarion Clipperton Zone. They found that the effects of a 1979 mining test experiment are still felt on the seafloor. This complex ecosystem hosts hundreds of species. According to a study published in Nature Journal, the collection of "polymetallic" nodules...

Eneos Japan, the largest oil refiner in Japan, announced on Tuesday it would gradually stop production of lubricants, and certain petroleum products, at its Yokohama facility near Tokyo, by March 2028. However, they will look into moving lubricants to other facilities. In a press release, the company stated that the decision was made after a thorough review of the refining landscape and the marketing landscape. This included a structural decline in the domestic demand for petroleum and the intensifying competition in Asia. Eneos Holdings' Eneos unit said: "We have determined that it is urgent to restructure our production and supply...

China Civil Engineering Construction Corporation will invest $1.4billion via a 30 year concession to upgrade Tanzania-Zambia Railway, said the line's operator on Thursday. The competition for Africa's vital minerals is heating up. TAZARA is the initials of the railway that is used to identify it as a major route for exporting copper from central Africa. It offers a way around South Africa's logistical bottlenecks which have caused a slowdown in copper and cobalt. In a press release, Bruno Ching'andu said that the decision to grant the concession was based on an evaluation of TAZARA’s challenges throughout the years. This required...

According to a review of an arbitration file, a unit of China’s state-owned Power Construction Corp of China has sued Laos Utility Electricite du Laos in Singapore for $555 million of unpaid dues relating to. The claim is based on the electricity generated by PowerChina's Nam Ou Power unit, which operates the $2.73 billion Nam Ou River Cascade hydropower project. It has a capacity to generate 1.27 gigawatts of power from seven cascades that are located along 350 km of river in Southeast Asia. The Nam Ou Project is one of Laos’ largest projects, representing 7% of its 18 GW...

Anglo American South Africa's iron ore business is looking for private investors to operate a rail route that is vital to shipments of steelmaking ingredient to international markets. Transnet, the struggling state-owned company, owns and operates a 861 km (535 miles) rail line that runs from Kumba Iron Ore’s Sishen Mine in South Africa’s Northern Cape Province to Saldanha Port. Mpumi Zikalala, CEO of Kumba, stated that the line is plagued by derailments, and Transnet’s "constraints" on its balance sheet mean it cannot run the line effectively. Kumba, Africa’s largest iron ore producer, has reduced production after stocks rose to...

The following are the leading stories on the business pages of British newspapers. Reuters has not verified these stories and does not guarantee their precision. The Times - The takeover of Harland & & Wolff by the Spanish state-owned shipbuilder Navantia has been finished in an offer anticipated to secure more than 1,000 British tasks. - More than $700 billion was wiped from the worth of the world's biggest technology business after the emergence of a. cut-price Chinese rival to ChatGPT raised doubts over whether. America can sustain its lead in expert system. The Guardian - Elon Musk's Tesla has...

The London Metal Exchange (LME) has authorized Hong Kong as an LME delivery point and the listing will become active three months after the first warehouse company has been approved, it stated on Monday. The metals approved for shipment in Hong Kong SAR are aluminium alloy, copper, lead, nickel, primary aluminium, tin, and zinc, the LME stated. Companies looking for approval to operate a warehouse in Hong Kong needs to reveal that they have access to the needed experience needed to run a storage facility in accordance with the LME procedures, it stated. Authorizing storage facilities in China, the world's...

Guangzhoubased Pony.ai Inc. is looking for to release its robotaxi services in Hong. Kong, signing up with Baidu in a race to supply services in. the city, as the self-governing driving firm looks to broaden its. operations internationally. Nasdaq-listed Pony.ai strategies to supply robotaxi travelling. services for airport personnel within Hong Kong International. Airport before broadening into other city locations in the city, the. company stated in a declaration late on Friday. It did not provide a. timespan for the launch. Chinese artificial intelligence giant Baidu is likewise considering. the launch of its driverless taxi service in the city after...

China's capital Beijing passed brand-new regulations on Tuesday to encourage self-governing driving technology in the city, with authorities preparing to ultimately permit driverless public buses and taxis. Self-governing automobiles that pass roadway screening and security assessments will be enabled to look for roadway trials, the state-backed Beijing Daily paper reported, which stated the new guidelines take effect from April 1. The city supports making use of autonomous automobiles for personal vehicles, metropolitan buses, cable cars and taxis, it said, adding that it wishes to encourage the building and construction of smart road infrastructure to support such transport. In a separate...

China will extend licence age limitations for motorists of mediumsized and big buses also as trucks, as part of broader efforts to attend to the obstacles positioned by an aging population, falling birth rate and a shrinking labour swimming pool. Keeping older transportation workers on the payroll will be essential to helping preserve stability throughout China's huge transportation system in the medium-term as the sector prepares to embrace more self-governing vehicles. Just over a years back, the capital Beijing enabled male bus drivers to retire five years earlier - at the age of 55 - for health factors, as it...

Hong Konglisted JD Logistics will get the 36.43% stake it does not currently own in KuayueExpress Group for not more than 6.48 billion yuan ($ 892 million), the business stated on Friday. Under a contract, Suqian Jingdong Bohai Enterprise Management, a system of JD Logistics, will acquire the staying stake in Kuayue-Express. JD Logistics got a controlling stake in Kuayue-Express, a logistics providers in China, in 2020 to further improve its freight business and reinforce its services. The acquisition of Kuayue-Express will allow JD to focus on even more synergies between the companies and accelerate its development and competitiveness, JD...

U.S. President Joe Biden did not respond to press reporters' concerns on the approving of a pardon to his child Hunter Biden when he landed in Cape Verde for a brief stopover on his method to Angola. Joe Biden, whose term in office surfaces in January, flew out of Washington soon after pardoning Hunter, who had pleaded guilty to tax violations and been convicted on firearms-related charges. The president did not react to questions on the concern from reporters on the tarmac at Amilcar Cabral International Airport. He was set up to hold a meeting with the island country's. Prime...