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Hapag-Lloyd and CMA CGM shippers suspend Cuba bookings following US executive order
CMA CGM, Hapag-Lloyd and other shipping giants announced on Sunday that they have suspended all bookings for travel to?and out of Cuba until further notice. Both cited a U.S. Executive Order issued on May 1. This is the latest blow inflicted on the island's economic crisis. Two sources who have direct knowledge of the situation say that the temporary suspension of new order by two of the largest shipping companies in the world could threaten as much as 60 percent of Cuba's volume of shipping. This is a further blow to a nation already on the verge of collapse due to the U.S. blockade of oil, which has slowed down the island's fuel supplies. In an emailed announcement, the French company stated that "following the U.S. Executive Order dated May 1, CMA CGM decided to suspend their?bookings into or out of Cuba until further notice." The company said it would "closely monitor the situation" as well as adapt its operations to comply with applicable regulations. Hapag-Lloyd's spokesperson said that the German company had also suspended Cuban orders due to the compliance risks associated with President Obama's executive order of May 1. The Cuban government didn't immediately respond to an inquiry for comment. The Trump executive orders on May 1 widened the existing U.S. restrictions on?commerce to Cuba, including "any foreign persons" who operate in "energy, defense, related material, metals, mining, financial services or security sectors of the Cuban economic system, or any other sector." Sources said that the most affected areas would be Northern Europe and the Mediterranean. Sources added that Northern Europe and the Mediterranean will also be severely affected, but all shipping to Cuba will be affected. The?sources' said that the main reason for the suspensions was to stop any shipping from or to the communist-run Island and to Gaesa. Gaesa is a vast business conglomerate linked to Cuba's army, which has been heavily sanctioned in the United States. Sherritt International, a Canadian mining company, pulled out of its nickel and cobalt operations in Cuba earlier this month after decades of investment. CiberCuba reported the decision of the shippers first. It would be disastrous for Cuban imports that are critical to keep shelves stocked up with supplies in a country already plagued by shortages. Sources said that Hapag-Lloyd, CMA CGM and other shippers had several options. Shippers can decide to stop shipping to Cuba permanently or they can strike a deal to continue to ship to Cuba under the administration of the?U.S. The shippers could strike a deal with President Donald Trump, in which they would be allowed to continue shipping only to Cuba's?private?sector. Sources said that the second option would be consistent with the Trump administration’s strategy of giving private businesses in Cuba an edge over the state sector. (Reporting and writing by Gus Trompiz and Christoph Steitz; Additional reporting and writing by Natalia Siniawski, Mathieu rosemain and Christian Plumb. Editing and reviewing by Barbara Lewis and Chris Reese.
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What sites have been attacked by Ukraine?
In recent months, Ukraine has intensified its attacks on Russian energy installations as the peace talks have not produced any progress. Here is a brief summary of some of the recent attacks that followed Russian strikes against Ukrainian energy facilities and their impact. MOSCOW Sergei Sobyanin, the mayor of Moscow, said on Sunday that twelve people had been injured, mainly near the entrance to Moscow’s oil refinery. Three houses also suffered damage. He said that the "technology" at the refinery had not been damaged. Moscow's refinery is located in the Kapotnya district of the capital, in its southeastern part. It has a capacity of 11 million tons per year. ASTRAKHAN The local governor reported that debris from a drone strike caused an fire at a gas-processing plant on May 13, in the southern region Astrakhan. The Caspian Sea plant has a capacity of 12 billion cubic meters of gas per year and 3,000,000 tons of stable condensate. The plant also produces diesel, gasoline, and liquefied oil gases. Two industry sources reported that the Perm oil refinery in Russia halted its processing on May 7, after a drone strike caused a fire to break out and damaged some equipment. The refinery will process around 12.6 million metric tons, or about 250,000 barrels, per day in 2024. It produced 2,000,000 tons of gasoline and 5.3,000,000 tons of diesel. 700,000 tonnes of coke was also produced, as well as 200,000 tons fuel oil. TUAPSE Officials said that a Ukrainian drone attack on the oil refinery of the city Tuapse caused a major blaze to break out in the evening of April 28. Two industry sources reported that the refinery, which exports the majority of its products, stopped operations after a?drone strike by Ukraine on April 16. The company has a production capacity of approximately 12 million tonnes per year or 240,000 barrels a day. It produces fuel oil, naphtha and vacuum gasoil. SYZRAN Two industry sources said that Rosneft’s Syzran refinery stopped oil refining following a drone attack on April 18, which damaged processing equipment. The refinery can process around 170,000 barrels per day, or 8.5 million tons of oil. According to industry sources, it processed 4.3 millions tons of crude oil in 2024 and produced 800,000 tonnes of gasoline, 1,5 million tons diesel, and 700,000 tonnes of fuel oil. NOVOKUIBYSHEVSK Two industry sources confirmed that the primary oil processing has been stopped at Rosneft's Novokuibyshevsk Refinery since April 18, following a drone attack by Ukraine. Industry sources claim that in 2024 the refinery will process 5.74 million metric tonnes of crude oil and 1,10 million tons each of motor gasoline, diesel fuel, and fuel oil. Two industry sources confirmed that NORSI, Russia’s fourth largest oil refinery and owned by Lukoil, halted operations on 5 April following an attack by a Ukrainian drone. NORSI can process up to 16 million metric tons (or 320,000 barrels) of oil each year. The Ukrainian military confirmed that it had carried out a strike on the Bashneft Novoil oil refinery in Russia, which is located over 1,400 km away from the Russia/Ukraine border. The plant can process up to 7 million tonnes of oil each year. KIRISHI Kirishi Oil Refinery stopped processing at the end March after Ukrainian drone attacks caused fires. Kirishi produced 2.1 million tons last year of gasoline, 7.7 million tons of diesel, 6.1 millions tons of fuel oil, and 600,000 tonnes of bitumen. UST-LUGA PROCESSING PLLAN Three market sources reported on March 27, that Novatek Energy Company suspended the processing of gas condensate and export loadings of naphtha at its Ust-Luga Complex after drone attacks resulted in an fire. Three?processing units of the Ust-Luga Complex, each with 3 million tons per year capacity, refine stable condensate to light and heavy naphthas, jet fuels, ship 'fuel oil, and gasoil. According to company data, in 2025 the complex will have processed 8.0 millions tons of gas condensate. PORTS/TANKERS Ukraine also attacked Russia's Baltic and Black Sea ports, including Primorsk Port, oil tanks and military vessels on May 3. After a drone strike on April 23, a fire broke out in a Transneft?oil pumping station that supplies crude oil to Russia's biggest export terminal at the Baltic port?of Primorsk. An official of Ukraine's SBU said that on April 21, Ukrainian drones hit an oil pumping and dispatch facility located in Russia's Samara Region. In April, Ukrainian drones started a fire in the Sheskharis Oil Terminal in Russia. Primorsk is one of Russia's biggest export gateways and can handle up to 1 million barrels a day. At least 40% of the storage facilities were destroyed in a drone attack by Ukraine last month. Reporting by
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China searches for six missing persons after truck plunges into river during heavy rain
State broadcaster CCTV reported that rescuers are searching for six missing people after a pickup truck carrying 15 passengers sank into a river in China's southwest region of Guangxi during heavy rains, killing four. Weather authorities have warned that more rain is expected to fall after the heavy rains which soaked central and eastern China over the weekend. This includes provinces such as Jiangxi, Hunan and others. A separate incident occurred on Monday when a magnitude-5.2 earthquake in the city of Liuzhou, Guangxi, killed two people. Search and rescue operations were ongoing and authorities issued a warning about possible transport disruptions. Authorities have announced that they've allocated 10,000 relief items for Guangxi earthquake and flood relief. National Meteorological Center said that rains will gradually move from east to south across China in the next three day. The report warned that 'the risk of increasing mountain torrents, floods in small and medium rivers, and urban waterlogging are among the other threats. As part of the city's emergency response to flooding, Jingzhou, in central?Province of Hubei, declared measures to suspend business and work activities. Hubei Daily reported that the Hubei rains in Yichang broke a 36 year record for daily rainfall over the weekend. Authorities closed tourist sites and ordered schools to suspend outdoor classes. Reporting by Farah Masters in Hong Kong and Laurie Chen in Beijing, and the Beijing Newsroom. Editing by Raju and Clarence Fernandez.
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Ryanair does not expect a rise in summer peak fares but the risk of fuel shortages has receded
Ryanair warned on Monday that the U.S. and Israeli war against Iran would likely cause consumer anxiety, which could wipe out any increase in summer fares. However, the threat of fuel shortages has receded as suppliers adjust to the closing of the Strait of Hormuz. Commentary came at the same time as Europe's biggest airline by passenger number reported a record-breaking profit for its fiscal year ending in March. This was slightly above analyst expectations. Ryanair said last week that it does not expect any disruptions in jet fuel supplies for Europe this summer, but its profit may be "a little pressured" if oil costs remain high. SUMMER TICKET PRICES 'TRENDING BROADLY FLAT' Low-cost carrier said it had expected fares to increase by a low single-digit percentage during peak summer months. However, prices "are?now?trending broadly flat? in the July-to September period due to inflation fears and concerns from consumers about fuel shortages. Ryanair stated that the visibility of fares was poor and that summer profitability would be heavily dependent on last-minute reservations. Chief Financial Officer Neil Sorahan stated in an interview that the airline is "increasingly certain" there won't be any disruption in jet fuel supply even after summer, as suppliers increase their volumes and look for alternatives to Gulf Oil supplies. In a video, Michael O'Leary, the Group Chief Executive of?O'Leary's group, said that?there will be no disruptions between now and mid July. 'RECORD TRADE, RECORD PROFITS.' Ryanair announced a net profit after tax of 2,26 billion euros for the fiscal year, up from 1,61 billion euro a year ago. This is a significant increase over the 2.20 billion euro forecast by analysts in an 'internal poll. This did not include a '85 million-euro special provision in relation to a fine imposed by the Italian Competition Authority in December, which?it expects will be reversed on appeal. O'Leary stated, "We've had a record-breaking year with record traffic and record profits." "We are experiencing significant uncertainty at this time."
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Ryanair's peak summer fares are flat, as Iran uncertainty affects bookings
Ryanair warned on Monday that economic uncertainty "looks like it will wipe out any growth" in fares during the summer peak months, as the Irish airline reported a profit slightly above expectations for 'the year to March. Last week, the largest airline in Europe by passenger numbers said that it did not expect any disruptions to the jet fuel supply in Europe during the summer months. However, its profit could be "a little under pressure" if oil prices continue to rise. It reported a profit after tax of 2,26 billion euros for the year that ended in march, compared to a forecast of 2,20 billion euros in an analyst poll. This did not include a special 85-million euro provision related to an Italian competition authority fine in December, which it has said it expects to be reversed on appeal. The airline stated that "pricing has been lowered in recent weeks due to the economic uncertainty brought on by the higher oil price, the fear of fuel shortages, and the potential impact of inflation on consumer spending." The statement stated that the pricing for the quarter of July to September, which was expected to show gains in the low single-digit percentage range, is now "trending broadly flat". It said that "with zero H2 visibility and significant fuel prices/potential supply volatility, it is far too early at this point to give any meaningful guidance for FY27 profits."
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Hapag-Lloyd and CMA CGM shippers suspend Cuba bookings following US executive order
Separately, CMA 'CGM and Hapag-Lloyd announced that they had suspended all bookings for travel to and from Cuba until further notice. Both cited an executive order of the United States issued on May 1. CMA CGM announced in an emailed press release that it had suspended its bookings from or to Cuba until further notice, following the U.S. executive order issued on May 1. The company said it would "closely monitor the situation" as well as adapt its operations to comply with applicable regulations. Hapag-Lloyd's spokesman confirmed that the German company was also suspending Cuban orders due to the compliance risks associated with President Obama's executive order from?May 1. A request for comment was not immediately responded to by the Cuban government. Two sources who have direct knowledge of the situation say that the temporary suspension of new orders from two of the largest shipping companies in the world could threaten as much as 60 percent of Cuba's volume of shipping. This would be a serious blow to a nation already on the verge of collapse amid a U.S. blockade of oil which has drained the island of its fuel. Sources said that the order would have the greatest impact on the shipping of goods out of China. The sources said that Northern Europe and the Mediterranean would also be severely affected, but all shipping to Cuba will be affected. The Trump executive order of May 1, expanded the existing U.S. trade sanctions against Cuba to include any foreigner operating in "the energy, defense, and related materiel, metals and mines, financial services, security, or other sectors of the Cuban economic system." Reporting by Gus Trompiz and Christoph Steitz; Writing by Mathieu Rosamain; Editing and review by Barbara Lewis and Chris Reese
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After a deadly train crash in Thailand, a driver is charged with the crime.
The Thai police has charged a driver with negligence following a crash that occurred?on Saturday, central Bangkok. A 'freight train' collided with a bus at a rail crossing. Eight people were killed and 32 injured. Urumporn Koondejsumrit is the head of the Makkasan Police Station. He said that evidence showed reckless behavior leading to deaths. He said that the bus driver would be charged as well, but was still undergoing medical treatment. He said that investigators are looking into whether additional charges could be filed. The freight train struck a bus on?Saturday? that was stopped at a red traffic light. It ignited a fire, which engulfed it and pulled several vehicles nearby along the tracks. In a press release, Siripong Angkasakulkiat, the Deputy Minister of Transport, said that authorities would tighten safety and oversight measures to prevent another incident. Commuters claimed that they had feared a collision for a long time, since vehicles continued to pass through the crossing despite stop'signals. It shouldn't have happened. "I want all drivers to know traffic laws correctly," said Thanphisit Nawatkonoangkoon (20), a train commuter. The World Health Organization has ranked Thailand's roads as among the deadliest in the world due to poor enforcement of safety regulations. Reporting by Orathai Shriring, Kitiphong Thaichareon, and Napat Wasshasartar. Editing by David Holmes.
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Comoros suspends fuel price hikes after deadly protests
By Abdou Moustoifa MORONI, 16 MAY - Comoros has announced the suspension of the new fuel prices that were introduced as a response to the Iran War. The reversal comes after the price hikes led to protests and deadly clashes in the East African Archipelago. An announcement was made after protesters and security forces clashed on Anjouan island, resulting in the death of one person and the injury of five others. "The Comorian people's cries were heard by the government and Azali Assoumani (Assoumani). Listening to them was the only solution. At a press conference, Energy Minister Aboubacar?Said Anli stated that the goal was to maintain peace. Azali said that he suspended the decrees relating to the fuel price increase, which he said were "introduced" on May 9 to allow for discussions on the matter. On?Friday, clashes broke out following a meeting held between the mayor of Mirontsy on the island of Anjoua and the association of fishermen who have been on strike against the rising fuel price since Wednesday. In Mutsamudu - the capital of Anjouan - roads were also blocked by stones. The circumstances surrounding the death of the victim, who occurred near Mpage, are now being investigated by a judicial investigation. The unrest was a result of a wider strike that began Monday, after the government increased 'diesel prices' by 46% and gasoline by 35%. It cited the global oil prices surge caused by 'the war in the Middle East. According to the National Human Rights Commission, 39 people were detained after transport workers and shopkeepers paralyzed public transportation in Moroni's capital. The head of the merchants union and the?president? of the transport workers?union announced that the strike ended on Saturday.
ANSR CEO: Global centres in India are slowing hiring as AI reshapes the work.
The CEO of ANSR, a company that helps companies 'build & run global centers,' said Monday, "Global capability centres are being measured in India as companies...are worried about the impact of...geopolitical uncertainty and the growing adoption of.AI."
India has more than half the global centres, as businesses prefer it for its skilled workforce, low operating costs, and ability to support high-value positions in technology, finance, and engineering.
The 'rise of artificial intelligence' could put this edge to the test by reducing the number of people in certain roles and reshaping what global centers do.
Lalit?Ahuja is also the founder and CEO of ANSR. "Companies are employing fewer employees, as a matter?of abundant 'caution.
ANSR's clients include FedEx, Target, and Lowe's.
Ahuja claims that the hiring is being cut by 30% to 50%. Some firms who had planned to have global centers with more than 5, 000 employees are now reducing their ambitions to around 2,000. He didn't give any further details.
In a report released this month, the IT industry body Nasscom said that India will host 2,200 global centers and 2.36 million talent by the end of fiscal year which ends in March.
FLEXIBLE WORKFORCE
Ahuja stated that hiring is expected to be subdued 'in the near-term.' This will allow companies to build a core team, along with a flexible pool of workers who can be scaled down or up based on business needs.
This reflects a growing tiredness with the "wait and watch" approach. Companies choose to hire less people than planned or begin work on a smaller-scale - all in an effort to see what happens.
Ahuja stated that "Companies are now undertaking bold experimental experiments."
It's hard to let people go.
(source: Reuters)