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A train derails near northern France, injuring at least 44 people
The French railway operator and French authorities confirmed that a train derailed in Normandy in northern France between Rouen-Caen on Friday night at around 7:30 pm local time. The head of the local authority Jean-Benoit Albertini told reporters that one of the injured was in a critical condition and had to be evacuated via helicopter. A spokesperson for the French police said that the train 'derailed after hitting an unknown object. The French railway operator SNCF said an investigation was underway to determine the cause of this accident. In a post on X, French Transport Minister Philippe Tabarot revealed that the train carried 180 passengers. He added that 140 firefighters were at the scene to help the injured passengers and drivers. The local authority,?prefecture Seine-Maritime, warned the public to avoid the area. SNCF announced that the train service between Rouen, Caen,?Caen, and Le Havre has been?suspended' and a'replacement bus services will be in place.
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USDA report report fails in its attempt to reverse EU wheat's decline
European wheat prices fell on Friday after U.S. grain forecasts did not provide enough positive news to counteract a bearish mood that had pushed the price to a two-week low in earlier'session. The daily session for December wheat traded on Paris' Euronext ended with a loss of 1.6%, or EUR241.25 per metric ton. The benchmark contract fell to a 2-week low at EUR240.25 earlier in the day, from a contract peak of EUR259.25. The U.S. Department of Agriculture released its monthly "supply and Demand" forecasts for world wheat ending stocks on Friday. These were slightly higher than average estimates. Investors who had built up a large position in wheat were encouraged to take profits by the report's publication. Prices were also affected by diplomatic efforts to end the war between Russia and Ukraine. Commerzbank, which announced its forecasts on Friday, increased their year-end wheat prices, citing the ongoing attacks by Russia and Ukraine against each other's port. The CBOT wheat price at the end the year is now $7, up previously from $6.50, and the Euronext wheat price at EUR240, up previously from EUR220. The market is still bouncing between the bearish expectation of a stable shipping agreement in the Black Sea and the bullish expectation that Russia and Ukraine will continue to attack ports and shipping. Importers from Egypt and Libya showed an interest in small quantities of 11.5% protein wheat at $300-$305 per ton C&F for shipment between September/October. According to a trader, Pakistan's wheat tender of 750,000 tons next week will likely?attract mainly Romanian or Bulgarian offers and possibly include Ukrainian wheat that is transported overland to Romania. Pakistan could cancel the tender if prices are well above $300 per ton c&f. As Rhine water levels dropped, ships were only able to sail partially loaded and transport costs increased.
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Poste Italiane acquires Telecom Italia for 66.6% at the end of the offer period
Poste Italiane secured a 66.6% share in Telecom Italia (TIM)'s capital. Calculations based on stock exchange data were revealed on Friday at the conclusion of the main phase for the takeover bid by the state-backed company. Poste, who had previously acquired a 20% stake in TIM, increased its cash component by 18%, to EUR1.97 a share. It also confirmed an exchange ratio of 0.218 newly -issued Poste?shares for each TIM share. At Friday's closing price, the bid was valued at around EUR13 billion. Borsa Italiana (the Italian stock exchange) reported that the take-up of the bid for the former Italian telephone monopoly had reached 58.2%. Poste waived its initial acceptance threshold of 66.67% for this upcoming?week. The offer period will reopen between September 21 and 25.
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Tesla targets European freight market by releasing long-delayed semi truck
Tesla will bring its Semi-electric truck to Europe, expanding its reach beyond North America. It is looking to gain a foothold in the heavy-duty market where competitors already sell battery-powered models. Elon 'Musk-led 'automaker will reveal European specifications and launch information at the IAA Transportation Trade Fair in Hanover Germany next week. It said in a posting on X. The European push comes almost a decade after Tesla unveiled the Semi back in 2017. The company initially planned to produce the Semi by 2019, but this timeline was continually delayed because the company prioritized the supply of battery cells for its passenger vehicles. Tesla began limited deliveries in late 2022 to customers such as PepsiCo, including the United States. Tesla announced in April that the first "Semi" had been produced on a Nevada high-volume line. In its shareholder update for July, Tesla only stated that Semi production would start in 2026 and removed an earlier forecast of volume production this summer. Tesla's German language website lists the version of?truck that has a range up to 550km (342 miles), with a combined gross weight of 40 tonnes and an energy consumption of around 1 kilowatt hour per kilometer. The 'company' said that the truck is able to take off with electric power up to 25 kW and weighs around 9,100 kg without a cargo or trailer. The truck can recover 60% of its range within 30 minutes by using Tesla's Megacharger network, which the company claims is capable of delivering up to 800 kilowatts. Tesla also cited dedicated service centers and route-based scheduling as features that would reduce downtime.
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QatarEnergy is seeking US LNG deals until 2031, according to sources
QatarEnergy has been in talks with several producers about securing multi-year U.S. contracts for liquefied natural gas through 2031. This is to replace the capacity that was destroyed by Iranian attacks, which will take years to fix. Two sources confirmed that discussions are underway with Venture?Global and Woodside. Sources said that the contract talks were part of QatarEnergy's effort to replace volumes lost from its Ras-Laffan facility, after Iranian strikes damaged two of its 14 gas-to liquids (GTL), and two LNG trains. QatarEnergy has also changed its approach from purchasing dozens of U.S. LNG spot cargoes in order to meet commitments made to some of their Asian clients. QatarEnergy CEO Saad al-Kaabi stated in March that the repairs will sideline 12.8 millions tons of LNG capacity per year for three to fiveyears. QatarEnergy, which halted its production in March, has renewed force majeure notifications monthly. Most recently, they were extended to November. Further extensions are possible if the Strait of Hormuz is closed, according to the sources. QatarEnergy Trading - the trading arm of QatarEnergy - which managed 10 million tonnes of the company's portfolio of LNG - is looking to achieve 2-3 million metric tonnes per annum until 2031. A fourth source stated that "They'll have to buy anything they can." QatarEnergy has not responded to an immediate request for comment. Venture Global and Cheniere declined comment while Woodside LNG stated that it would not comment on speculations about the market. According to research firm Rapidan Energy, 25 million metric tonnes of LNG are available for sale in U.S. construction projects. Rapidan data shows that Venture Global has 10 mtpa of LNG uncontracted. Cheniere, Woodside Energy, and Sempra have 6 mtpa each available. Qatar's pursuit of LNG volumes to deliver to its?customers indicates that Qatar now sees a risk in their ability to export LNG over several years, said Saul Kavonic. He is the head of energy advisory and research at MST Marquee. He added that "it signals that Qatar?considers the Strait of Hormuz disruption may prove to be longer lasting and the damage to Qatari?LNG infrastructure is more extensive than originally hoped, and it may take longer to fix." Around 80% of Qatar LNG exports are usually exported to buyers in Asia. Many clients in Asia began to look for alternatives to Qatari Gas due to the uncertainty of when flows would resume through this major waterway. According to a fifth party, some market participants are testing scenarios where no Qatari gas will be available.
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QatarEnergy is seeking US LNG deals until 2031, according to sources
QatarEnergy has been in talks with several producers about securing multi-year contracts for?U.S. Three trading and industry sources said that QatarEnergy is negotiating with several producers to secure multi-year?U.S. Two of the sources cited said that discussions were held with Venture 'Global, Cheniere, and Woodside. Sources said that the contract talks were part of QatarEnergy's effort to replace volumes lost from its Ras-Laffan facility, after Iranian strikes damaged two of its 14 gas-to liquids (GTL), and two LNG trains. QatarEnergy has also changed its approach from purchasing dozens of U.S. LNG spot cargoes in order to meet commitments with some of their Asian clients. The company is now looking for longer-term solutions. QatarEnergy CEO Saad al-Kaabi stated in March that repairs will sideline 12.8 millions tons of LNG capacity per year for three to five more years. QatarEnergy, which halted production back in March, has issued force majeure notifications every month. The most recent extension was to November. Further?extensions are possible, as the Strait of Hormuz is still closed, according to the sources. QatarEnergy Trading is the trading arm of QatarEnergy, which managed 10 million tons of LNG for the company. One source said that the company was looking to achieve 2-3 millions metric tons annually through 2031. A fourth source stated that "They'll have to buy anything they can." QatarEnergy has not responded to an immediate request for comment. Venture Global, Cheniere and Woodside LNG declined to comment. Saul Kavonic is the head of energy research and advisory at MST Marquee. He said that Qatar sees a risk in their ability to export LNG over several years. He added that "it signals that Qatar believes the disruption of Strait of Hormuz could be longer lasting and the damage to Qatari's LNG infrastructure has been more extensive than originally hoped and repair may take longer." Around 80% of Qatar LNG exports are usually exported to Asian buyers. Many clients in Asia began to look for alternatives to Qatari gas due to the uncertainty surrounding when flows will resume through 'the major waterway. According to a fifth party, some market participants are testing scenarios where no Qatari gas will be available.
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Oil tanker prices reach record highs after US and Iranian shipping attacks
This week, the cost of'shipping' oil in the largest tankers reached record levels following the most intense wave of attacks against shipping since the U.S. - Iran war began late in February. According to Baltic Exchange, the shipping rate for supertankers, also known as very large crude carriers (VLCCs), loading oil in the Gulf of Oman to be shipped to China, reached around 450 on Worldscale, which is?roughly?$11.50 per barrel. The rate is at its highest level since it was introduced earlier this year after the U.S. and Israel war against Iran. The increase in rates is a sign of 'how the Middle East conflict feeds into the wider economy. The rise in shipping costs could add to inflationary pressures, and increase costs for consumers and businesses already feeling the effects of a growing conflict. Iran announced on Wednesday that it had launched 10 attacks near the Strait of Hormuz, after the U.S. destroyed five Iranian oil tanks. Four Yemeni government officials said that the Houthis, who are aligned with Iran, reached Perim, a strategic island in the Bab El-Mandeb Strait on Friday, possibly tightening their hold on one of the world's most important shipping routes. Ioannis Pandimitriou, analyst at Vortexa, said that "repeated attacks between the U.S. Navy and Iran continue to push freight rates in the Gulf up to new heights." Papadimitrou said that the higher risk of operating in the Middle East Gulf and the surrounding area is driving up the Gulf of Oman's freight rates, out of fear of Iranian reprisals. This naturally reduces the number of available tankers in the region. The recent military escalation is having a wider impact, with VLCC rates also reaching record highs on the West Africa-Asia route.
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Travel chaos caused by the protest of Polish train drivers who slow down during safety demonstrations
On Friday, Poland's railways were impacted by widespread disruption as train drivers protested safety concerns and slowed down their trains. Around two thirds of services experienced delays on what is one of the busiest weeks of the year. A train that hit a truck and derailed at a level-crossing in central Poland Wednesday killed one person and sent 10 to the hospital. This is just the latest of a series of accidents caused when road users ignore warning signs. "We do not view this as protest but as an act of desperation," said Sebastian Piernik. He added that the union's demands for safety were?ignored in the past. "The fundamental problem is to ensure that drivers are held accountable for crossing the tracks at a time when there's a red signal." Train drivers at all level crossings slowed to 20 kilometres an hour (12 mph), as part of the protest that lasted until Friday noon local time. As a consequence, train operator PKP intercity reported that as of 12 p.m. (1100 GMT), 203 of 290 services?faced delays averaging 38 minutes. Alicja Kiman, a resident of Gdansk, said that she wasn't surprised by the protest because?motorists are?often reckless. She said, "I've seen garbage trucks break the barrier twice - forcing themselves in when it was closing." The government announced that it would introduce harsher 'penalties for drivers disregarding warning signals at crossings, and it spent hundreds of millions?zlotys to improve safety. Dariusz Klimczak, Infrastructure Minister, told reporters that "these changes will result in the risk of losing a driver's licence" for drivers who enter a road/rail crossing with RED light on.
Feeding Gaza: Traders run onslaught of bullets, bombs and kickbacks
Mohammed describes a shipment job from hell.
I get screwed on every delivery, the Gazan trader informed . He stated he has to hand over more than $14,000 for each truck of food he brings into the besieged enclave to pay sky-high transport expenses, kickbacks to intermediaries and security from looters. That's up from $1,500-$ 4,000 before the war began in October.
It's hardly worth my while. But I require food, my neighbours require food, the whole of Gaza requires food.
Mohammed said he doesn't like it, but he's required to hike prices of some fresh food like dairy items, fruit and chicken to 10 times their normal worth just to break even, though he understands this puts them out of reach of many hungry Gazans.
He and 17 other individuals interviewed , most of them traders and aid employees in Gaza with direct knowledge of the supply situation, described a chaotic system that frequently makes it too hazardous or costly for entrepreneur to import food, even as aid agencies alert of the growing risk of famine.
A lot of the people requested their complete names be withheld to speak freely about delicate matters, with traders like Mohammed saying they feared reprisals by regional gangs or being blacklisted by the Israeli armed force for speaking up.
The bulk of the cash spent on importing food goes on swelling trucking costs, according to the people talked to.
Chauffeurs in Israel have increased their rates by as much as threefold due to the fact that of attacks by Israeli protesters on trucks heading towards Gaza, they said. Cargoes likewise frequently have to wait for days, either near their departure points in the occupied West Bank or the Kerem Shalom border crossing from Israel into southern Gaza to be examined by Israeli soldiers and authorized to go into the enclave, they included, even more increasing expenses.
Once the items finally make it into Gaza, the sources told , the hairiest part of the journey begins.
Another trader, Hamuda, who imports pickled vegetables, poultry and dairy products from the West Bank, stated he either pays off regional criminal gangs or employs his own armed males to stand on top of the cargoes and fend off looters.
It's anywhere from $200 to $800 for this. It's worth it for a cargo that can be worth as much as $25,000, he stated. The guys I. hire are pals or relatives, I require about 3-5 per truck.
Meanwhile, none of the private-sector goods have made it to. northern Gaza, where aid firms state appetite is most intense,. because the Israeli armed force has closed that location off to their. commercial deliveries, all eight traders said.
2 help workers validated the only food readily available in. northern Gaza is help, with no industrial items for sale. The. Israeli military didn't talk about the accessibility of food for. sale in the north, a location dominated by Gaza City and its. environs.
The military, which manages coordination of aid in Gaza,. says it lets enough food in from Israel and Egypt for the entire. population. It acknowledged aid agencies face troubles in. transporting food once it has entered through crossing points. consisting of Kerem Shalom, without defining what the obstacles. were.
Dispersing help in Gaza is a intricate job considered that it is. an active war zone, a spokesperson told . Israel is. dedicated to allowing humanitarian help to get in Gaza for the. advantage of the civilian population ... it will facilitate it. while sticking to operational factors to consider on the ground.
The military stated Palestinian militant group Hamas, Gaza's. ruling group, was exploiting humanitarian infrastructure for. its military needs, without elaborating.
Hamas denied exploiting help and stated it doesn't interfere. with food deliveries. It validated that traders were employing. armed guards to protect their deliveries however stated none of those. males were linked to Hamas.
Our utmost goal is to relieve the suffering of our. people, said Hamas federal government spokesperson Ismail al-Thawabta.
' TOTAL BREAKDOWN OF LAW'
Getting food to the Gaza Strip's mostly displaced population. of 2.3 million has been beleaguered by bureaucracy and violence since. war broke out on Oct. 7, when a Hamas attack on towns in. southern Israel activated an Israeli bombardment and invasion. that has desolated the seaside area.
There are two main tracks of food entry: global help,. which is largely U.N. or U.N.-distributed products of. non-perishables, like rice, flour and tinned items and has made. up the bulk of imports throughout the war; and business. shipments, which include fresh fruit and vegetables important to fending off. malnutrition.
The Israeli military enabled commercial food deliveries from. Israel and the occupied West Bank to resume in May after its. assault on Gaza's southernmost city of Rafah - an essential gateway. from Egypt - considerably decreased the flow of U.N. help to the. ravaged Palestinian territory.
, which reported the business resumption, is likewise. the first news outlet to information the occurring expenses and mayhem. faced by Gazan traders that have actually hindered their efforts to import. fresh food for sale in the enclave's markets and stores.
Attacks on food trucks have risen given that Israel introduced its. May 7 Rafah offensive, which has actually deepened the chaos in Gaza by. scattering the 1.5 million individuals who had been sheltering in. tent camps there, according to the traders and help employees.
The U.N. materials that are still getting through to Gaza,. via Kerem Shalom or northern crossings, are even more vulnerable. to criminal gangs because, unlike personal businesses, U.N. agencies can't pay for armed protection, according to 6 aid. employees associated with coordinating food shipments. One approximated. that about 70% of the food trucks were being assaulted.
We are faced with a near total breakdown of law and. order with truck chauffeurs being routinely threatened or. assaulted, Philippe Lazzarini, head of U.N. relief company. UNRWA, told . Far a lot of trucks have actually been looted.
The difficulties faced by aid agencies imply the commercial. track has started to comprise a bigger proportion of food going into. Gaza, though the circulation remains erratic, according to the 8. traders interviewed.
They stated private-sector supplies has made up between 20. and 100 trucks a day - each carrying up to 20 tonnes of food -. because the Rafah assault was released. During this period,. Israeli military information reveals approximately 150 aid and commercial. food trucks a day have gone into in overall.
That is well short of the 600 trucks a day that the U.S. Company for International Development says is needed to attend to. the threat of famine.
The business food being available in is likewise costly, and little. replacement for global help that has actually already been spent for. by donor countries and organizations, according to the 6 aid. workers.
Some items have actually increased at least 15-fold in expense, said. Majed Qishawi, of the Norwegian Refugee Council in Gaza. Fundamental. items ... have actually disappeared from the market since of an extreme. drop in aid and commercial trucks arriving.
ISRAELI PROTESTERS ATTACK
Traders explained a long and perilous process to provide. food from their providers in Israel and the West Bank to their. designated destinations in Gaza, a 100-mile journey at the majority of, with. difficulty looming far before items reach the war-torn enclave.
Numerous Gaza-bound freights, transferred by Israeli drivers. or by Palestinian drivers who have consent to work in Israel,. were obstructed or assaulted by Israeli protesters in May in a spree. of violence which triggered Washington to sanction one involved. group with links to Israeli inhabitants. The protesters stated they. were preventing supplies from getting to Hamas.
Israeli drivers in specific have actually hiked their transportation. costs due to the fact that of the attacks - in some cases by 3 times, stated. another trader, Samir. A $1,000 trip can cost $3,000.
Cargoes then often get stuck in lines of trucks before they. can enter Gaza, with long waits costing importers about $200 to. $ 300 per day per truck, he added.
The hold-ups are triggered by a general stockpile in getting food. into Gaza, according to the 18 sources interviewed who also. consist of Palestinian and Western officials.
couldn't individually verify the logjam at the Gaza. border as Israel mostly bars reporters from Gaza and its. crossing points.
The traders and help employees stated that for two weeks at the. start of June, the Israeli military suspended all entry for. industrial items while a stockpile of humanitarian aid was. cleared. One trader shared a text message from an Israeli. military planner for materials into Gaza on June 9 informing. him that industrial circulations were on hold up until additional notice,. though could not confirm its credibility.
The industrial track opened up again around the Muslim Eid. al-Adha vacation start on June 15, individuals said.
BRIBES & & DEFENSE RACKETS
Once food cargoes are permitted to cross into Gaza, the items. are filled onto different trucks with regional drivers to be. dispersed to vendors in the enclave, the traders stated.
They are now in a battle zone.
Stretches of road in Rafah and the southern city of Khan. Younis that were thought about relatively safe before the Rafah. invasion are now infamous for attacks, the traders stated.
Three of the help workers stated truck lootings were an everyday. occurrence while Hamuda, the trader, approximated that about 6. times as many trucks are being raided now compared to. before the Rafah attack.
Some trucks are attacked for freights bring rarer. commodities such as meat or fresh fruit, Hamuda stated. Lots of. others are assaulted by gangs who have actually secretly organized to. smuggle items inside food shipments, specifically tobacco.
One Gazan trader shared a photo of cigarettes smuggled. inside a hollowed-out watermelon, though couldn't validate. its credibility.
Another challenge is continuous Israeli operations, according to. the traders who stated they have no military official to contact. in genuine time while their trucks are inside Gaza.
If a road is closed by combating or bombardment, they have no. method of figuring out a safe option, or relaying this. information to their motorists who are typically outdoors mobile phone. protection, they added.
3 traders said that last month they started paying larger,. better-connected Gazan entrepreneurs who have routine coordination. with the Israeli military to protect the entry of their cargoes. and protection for their trucks to their destinations.
The traders, who decreased to recognize the middlemen, stated. this service alone can cost approximately $14,000 to get the goods to. their location safely.
One of the traders, Abu Mohammed, stated he had to weigh up. just how much he could offer his cargo for. After treking my prices to. make up for the transportation costs, possibly I make a couple of. hundred dollars. Perhaps I break even, he said.
I also run the risk of losing everything, he added. If the delivery. is ransacked, my cash's been lost..
(source: Reuters)