Latest News
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Carney: New oil pipeline proposal for Canada highly likely
In an interview with the Calgary Herald published on Sunday, Prime Minister Mark Carney said that a new oil pipeline along the coast of British Columbia is likely to make the list of projects considered to be of national significance by the Canadian government. Carney stated in an interview on Saturday that "given the size of the economic opportunity and the resources, expertise, and knowledge we have that it's highly, highly probable that we will be proposing a pipeline as one of these national-interest projects." The Prime Minister said it was up to the private industry to come up with the idea, and not a government "top-down" approach, where they say "we want that, we want this." Carney, who attended the annual Calgary Stampede in Calgary, said he also supported a proposed C$16.5 Billion ($12.14 Billion) carbon capture system to be built for Alberta's Oil Sands. Carney's remarks come just weeks after the Canadian Senate passed a law to expedite approval of natural resource and infrastructure project. The bill expedites approval of projects of national importance, including oil pipelines and mines. It also eliminates certain trade barriers between provinces. Canada is the fourth largest oil producer in the world. Canada has put oil and gas projects on its list as it tries to reduce its economic dependency on the United States. It sends 75% of all exports there.
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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)
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UK maritime agency reports that a ship was attacked in the Red Sea near Yemen.
An attack on a ship in the Red Sea, off the coast of Yemen's southwest coast, was launched by eight small boats using gunfire and grenades. A British maritime agency and a security firm confirmed the incident. The situation continues, according to the United Kingdom Maritime Trade Operations and British maritime security company Ambrey. The attack was not immediately attributed to anyone. This is the first report on the region by the agencies since the middle of April. The tensions in the Middle East are still high due to the conflict in Gaza, the 12-day Israel/Iran war that lasted for 12 days and the airstrikes conducted by the United States against Iranian nuclear sites. The UKMTO and Ambrey reported that the attack took place 51 nautical miles southwest from Yemen's port of Hodeidah. The ship was not named. Yemen's Iran aligned Houthis launched over 100 attacks against shipping in November 2023. They claimed they were acting as a solidarity with Palestinians regarding Israel's conflict with Hamas. The group has sunk two ships and seized another, killing at least four seafarers. This offensive disrupted the global shipping industry, forcing companies to change their routes, which in turn prompted the U.S. government to intensify its attacks against the group. In May, Donald Trump announced that the U.S. will stop bombing Houthis in Yemen. He said the group has agreed to stop interfering with important shipping routes in the Middle East. Oman stated in a press release at the time that the agreement stipulated neither the U.S. or the Houthis could target each other. This included U.S. vessels in the Red Sea, Bab al-Mandab, and the Bab al-Mandab strait. In June, the Houthis of Yemen threatened to attack U.S. vessels in the Red Sea in case Washington joined Israeli attacks against Iran. The Houthis have not stated whether they intend to follow through with their threat following the U.S. attack on Iranian nuclear facilities in late June. Reporting by Muhammad Al Gebaly, Jaidaa Taka; Editing by Alison Williams, Emelia Sithole Matarise
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The Defence Ministry reports that Russia has destroyed 120 Ukrainian drones in one night.
The Russian Defence Ministry reported that the anti-aircraft system of Russia had destroyed 120 Ukrainian drones over night, mainly in bordering regions, but there was no damage. Ukraine is increasingly using drones in its war against Russia, which has lasted more than three years. Defence Ministry reported that drones were intercepted over night in Belgorod, Kursk and western Bryansk regions. The Oryol area, bordering Kursk, has also been the target of previous Ukrainian drone attacks that targeted oil facilities. Rosaviatsiya (Russia's Civil Aviation Authority) has lifted the restrictions placed overnight at airports such as St. Petersburg, Kaluga and Moscow to ensure safety. (Reporting and editing by Helen Popper; Vladimir Soldatkin)
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China extends flight path over Taiwan Strait by a third time
China announced on Sunday that it had opened a third flight extension along the M503 route. This is located just west of a unofficial dividing boundary in the Taiwan Strait. Taipei reacted by saying this was an "unilateral move" aimed at changing status quo. Last year, China moved the M503 flight route closer to median line. This drew a similar angry response from Taipei. It said that any changes made to the flight routes and their extensions should be communicated and agreed upon in advance by both parties. The W121 extension was opened just days before Taiwan's annual Han Kuang drills, which simulate a Chinese invasion and blockade of its democratic island. China has been flying warplanes over the median line to try to get Taipei, which claims sovereignty in China, to accept Beijing's claim. Civil Aviation Authority of China announced that "in order for the civil aviation to improve the operational efficiency and further optimize the airspace, the W121 line will be used as a connection of the M503 route." In a recent statement, Taiwan's China Policy-making Mainland Affairs Council stated that mainland China had "used unilateral action to change the status quo" and to increase unrest in the region and across Taiwan Strait. The third extension is W123, located to the south of W121. It was opened last year. All three extend west-east from mainland China to Taiwan. The Taiwan Affairs Office of China said that this measure was taken to "ensure flight safety, reduce flight delays and protect the rights and interest of passengers." The opening of the Strait was deemed "beneficial" for both sides. Taipei rejected the explanation, calling it "unjustified". It said that "the number" of international air travelers on the mainland had not recovered to levels before the COVID-19 pandemic. The Han Kuang military exercises will last 10 days. Taiwan is under increased pressure from China who considers Taiwan as their own. (Reporting from Yimou Le in Taipei and Marius Zaharia, Hong Kong; editing by Christian Schmollinger).
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China extends flight path over Taiwan Strait by a third time
China's Civil Aviation Authority said on Sunday that it had opened a third expansion of the M503 route. This flight route has been the subject of complaints by Taipei for many years due to its location just west of a unofficial dividingline in the Taiwan Strait. China moved the M503 route last year closer to the median, provoking an angry response from Taipei. It said Beijing was "packaging" civil aviation to serve political or military purposes, and potentially change the status quo of the Strait. The W121 extension was opened just days before Taiwan's annual Han Kuang drills, which simulate a Chinese invasion and blockade of its democratic island. China has been flying warplanes over the median line to try to get Taipei, which claims sovereignty in China, to accept Beijing's claim. Civil Aviation Authority of China announced that "to further optimize airspace and improve operational efficiency from now on, the civil aviation will use W121 connection lines of the M503 routes." Taiwan's China Policy-making Mainland Affairs Council has not responded to a comment request immediately. The third extension is W123, located to the south of W121. It was opened last year. All three extend west-east from mainland China to Taiwan. The Taiwan Affairs Office of China said that the measure was designed to "ensure flight safety, reduce flight delays and protect the rights and interest of passengers." The opening of the Strait was "beneficial" for both sides. Han Kuang, which will last 10 days, is set to begin on 9 July. Taiwan, facing increased military pressure from China which views the island as its own. (Reporting and editing by Saad Saeed; Additional reporting in Taipei by Yimou Le.
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F-16 escorts aircraft out of the area after airspace violation near Trump's Golf Course
The U.S. military released a statement saying that an F-16 fighter jet intercepted on Saturday a general aviation plane that had violated the temporary restriction placed over the golf club of U.S. president Donald Trump in Bedminster in New Jersey. North American Aerospace Defense Command said that the incident occurred at 2:39 pm (1839 GMT) and marked the fifth unauthorised incursion into the restricted airspace Saturday. The jet's identity was confirmed by a spokesperson. NORAD released a press release stating that the NORAD aircraft performed a headbutt maneuver in order to attract the attention of the civilian pilot. The aircraft was then safely escorted away from the area. The White House did not comment immediately on the incident. NORAD reported several similar incidents over the past few weeks and urges general aviation pilots in that area to review all notifications. (Reporting and editing by Alistair Bell; Reporting by Andrea Shalal)
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Mayor of Moscow: Russian air defences shot down four drones heading for Moscow
The mayor of Moscow said that Russian air defences destroyed four Ukrainian drones heading for Moscow on Saturday. One of the main airports in the capital temporarily stopped outgoing flights. The mayor, Sergei Sobyanin, said that emergency services are working on the site of the drones which have fallen but did not give any information about potential damage. In a Telegram report, the Russian Defence Ministry said that air defence units destroyed 48 Ukrainian drones over a five-hour period on Saturday evening. Five drones were in the area surrounding Moscow and two others were heading for the capital. According to the report of the Defence Ministry, the total consisted of 17 drones flying over the Bryansk Region near the Ukrainian border as well as 11 in the adjacent Oryol Region. Belgorod region governor, on the border, said that four Ukrainian drones injured a driver of a bus and a driver of a car. A report from the Defence Ministry stated that 94 drones were destroyed in Russia over night on Saturday, and 45 others within six hours of each other during the day. The Sheremetyevo Airport in Moscow reported delays after flights had been temporarily halted. Civil Aviation Authority Rosaviatsiya stated that the measures were taken as a result of "restrictions", over the capital's skyspace, as well as high winds. Rosaviatsiya reported that incoming and departing flights were temporarily halted at airports across Russia, including Pulkovo Airport in St Petersburg, due to safety concerns. (Reporting and editing by Jan Harvey, Diane Craft and Lucy Papachristou)
Spirit Aero to be broken up as Boeing consents to $4.7 bln stock offer
Boeing agreed to redeem Spirit AeroSystems for $4.7 billion in stock and Airbus moved to take on the supplier's lossmaking Europefocused activities, sending shares in all three business higher in a. rare transatlantic separation.
The near-two-decade independence of the world's biggest. standalone aerostructures company ended in a carve-up in between. its biggest clients after the latest Boeing 737 MAX crisis,. triggered by a mid-air door plug blowout in January, gave a. head doubts over the strength of fuselage production.
Boeing, which spun off Spirit's core Wichita and Oklahaoma. plants in 2005, stated it would redeemed its previous subsidiary. for about $37.25 per share, as reported on Sunday,. offering it an enterprise value of $8.3 billion consisting of debt.
Bringing Spirit and Boeing together will allow higher. combination of both companies' manufacturing and engineering. abilities, including safety and quality systems, Spirit CEO. Pat Shanahan stated in a statement.
Spirit shares increased 3.6% in early U.S. trading, while Boeing. gotten 2%
The Wichita, Kansas-based business said the offer offered a. 30% premium versus the day before Boeing and Spirit revealed. talks to bring the having a hard time provider back in home on March 1.
Boeing has long considered buying back its former subsidiary,. which analysts say has actually struggled to prosper individually despite. diversifying into work for Europe's Airbus and others.
The choice to proceed comes as Boeing attempts to fix a. sprawling corporate and commercial crisis that has actually swallowed up one. of the market's crucial providers.
Boeing is trying to move past months of difficulties triggered. by the Jan. 5 blowout of a door plug on a practically brand-new Alaska. Airline companies 737 MAX 9 jet that exposed quality problems.
Those problems have actually resulted in a significant downturn in output at. Boeing, rippling throughout the international business aviation industry.
Score company Fitch stated the deal must be operationally. useful to Boeing, allowing it to better strategy and control. future 737 MAX production.
The U.S. planemaker has announced the planned departure of. CEO Dave Calhoun in the wake of the crisis, with market. executives and experts indicating Spirit's Shanahan, a former. senior Boeing executive, as one of the possible replacements.
It was not immediately clear for how long he might be tied to. Spirit, with the Boeing offer not due to close up until mid-2025.
In a note to investors, Bernstein analyst Douglas Harned. said the deal must include clarity ... possibly for the Boeing. board's attention to transfer to the choice on the next CEO.
JET OFFER
Spirit had been spun off from Boeing in among a series of. moves that critics state were emblematic of a concentrate on. cost-cutting over quality.
Boeing made the decision to purchase it back in the consequences of. the door plug blowout, in what it referred to as an effort to. address its safety issues and support its production line.
That raised questions over the future of work that Spirit. performs for Boeing's arch-rival Jet, triggering the CEO of. the European giant to alert in April that it stood all set if. essential to ban modifications in control of Airbus-related plants.
On Monday, Jet stated it would take control of core activities at. four of the supplier's plants in the United States, Northern. Ireland, France and Morocco as reported recently.
It will also take control of small work currently performed in. Wichita. The separate Jet deal was activated by talks between. Boeing and Spirit and was loosely collaborated between the 3. business, sources stated. It goes through due diligence.
Airplane shares increased about 3.3% on Monday.
Because Spirit's Airbus-related operations are in the red,. industry sources had actually said the planemaker was pressing for up to. $ 1 billion in payment in return for taking control of the plants,. which make tactical parts for its A350 and A220 airliners.
Plane stated it would get $559 million in compensation. from Spirit, depending upon the last lays out of the offer, while. it would pay the provider a symbolic $1 for the properties.
That echoes its choice to purchase the Canadian-designed. CSeries little jetliner program for simply $1 from Bombardier. in 2018. It later on relabelled the jet the A220.
Until the current shake-up, Airplane had actually not imagined taking. control of the loss-making A220 wings producing performed. in Belfast, which Spirit bought from Bombardier in 2019.
Monday's offer lifts doubts over the future of part of. Northern Ireland's leading industrial employer, though sources have. said Jet might need to invest significant sums to increase. output and make the wings more inexpensive to produce.
Spirit said it planned to sell operations in Prestwick,. Scotland and in Subang, Malaysia that assistance Jet programs. and those in Belfast that do not support Jet programs.
(source: Reuters)