Latest News
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Bolsonaro and others are officially accused in the spy agency case
The Brazilian federal police has officially accused former president Jair Bolsonaro of illegally spying on the authorities by the spy agency ABIN during Bolsonaro’s presidency. They have also named his son Carlos Bolsonaro as well as other individuals in a probe. The federal police, without naming names, confirmed the results of the investigation. They detailed the "existence" of a criminal group that was focused on illegally monitoring public authorities and producing fake news using ABINS systems. According to a statement from the federal police, although it has been delivered to the Supreme Court, its final report is still under seal. Bolsonaro is already the president of Brazil. defendant According to a federal source, Abin, in a case involving a coup, was aware of Abin’s illegal surveillance scheme, and had benefited from it. He said that he had no knowledge of the case, and hadn't seen the report from the federal police. Carlos Bolsonaro was arrested on suspicion that he used information illegally obtained through the scheme in order to target targets using social media. Indicted were Alexandre Ramagem and Luiz Fernando correa, both former heads of ABIN during Bolsonaro’s administration. Correa is accused of obstructing an investigation by the Federal Police during the administration of President Luiz inacio Lula da So. Abin declined comment. Ramagem’s press office didn't immediately respond to an inquiry for comment. Carlos Bolsonaro was not reachable. According to a reliable source, the government is closely monitoring Correa's condition, but has not yet made a decision on whether he will remain in office or be replaced. Last year reported The parallel structure set up in Abin under the Bolsonaro administration monitored at least three justices of the supreme court. The attorney general will decide whether or not to charge Bolsonaro, and others in the case. Reporting by Ricardo Brito from Brasilia, Additional reporting by Eduardo Simoes, Writing by Isabel Teles and Editing by Alex Richardson & Natalia Siniawski
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Sources say that the cost of insurance for Israel war-risk ships has risen after Iranian attacks
Industry sources reported on Tuesday that war risk insurance premiums are up to three times more expensive for shipments going to Israel as the conflict between Israel and Iran enters its fifth day. They said that the cost of a 7-day trip to Israeli ports ranged from 0.7% to 1.00 % of the ship's value, as opposed to around 0.2% last week. Underwriters may price risks and rates differently. This will result in tens or thousands of dollars extra per day for each voyage. David Smith, the head of marine at insurance broker McGill and Partners said that rates for calls to Israel depend on a number of factors, including cargo, port, and ownership. Israel imports most of its goods via sea routes. These include Ashdod in the Mediterranean, near Gaza, Haifa to the north and Eilat on the Red Sea. Israel's Bazan Group closed its Haifa refinery on 16 June after an Iranian attack damaged its power station. MarineTraffic's ship tracking data showed that on Tuesday, nearly 30 vessels - many of them general cargo ships - were anchored in Haifa Bay. An Israeli source in the port industry in Haifa said that all terminals were fully operational and operating normally. Due to the increased risk, many shipping companies have already decided to avoid sailing to Israel. Yemen's Iran backed Houthis said they would attack any Israel linked vessels in spite of a ceasefire reached over U.S.-UK-linked ships on the Red Sea. In response to Israel's continuing conflict in Gaza, the militia announced a "maritime blocade" of Haifa in March. (Reporting and editing by Emelia Sithole Matarise and David Evans).
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Algeria buys milling wheat at tender, traders claim
European traders reported that Algeria's state grain agency OAIC began buying milling wheat after a Tuesday international tender closed. They said that the initial cost of a metric tonne, including freight and costs (c&f), was around $244.50. Initial, the exact size of the order in terms of tonnage was not clear. Traders added that negotiations are continuing and additional purchases could be made. The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later. Algeria usually buys much more than the nominal volume. Wheat can be supplied from any approved origin. Wheat is shipped in two phases from the main regions of supply, including Europe: 10-20 August and 21-31 August. The shipment date is one month earlier if the wheat comes from South America or Australia. Algeria is an important customer of wheat imported from the European Union and France in particular. However, Russian exporters as well as those from other Black Sea regions have seen a strong expansion on the Algerian market. Reporting by Michael Hogan from Hamburg and Gus Trompiz from Paris
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US Transportation Chief wants to bring back zero-tariffs in civil aviation
Sean Duffy, the U.S. Transportation secretary, said that he wants civil aviation to go back to a zero-tariff agreement from 1979 but added that it was part of broader talks on trade. Duffy, speaking at the Paris Airshow said that the White House is aware that the U.S. has a large aerospace export market, but that it faces a complex tariff situation. Airline companies, plane manufacturers and other U.S. trade partners are lobbying Trump for the restoration of the tariff-free regime that was established under the Civil Aircraft Agreement in 1979. This agreement has resulted in an annual surplus of $75 billion dollars to the U.S. industrial sector. Look at the impact of free trade on aviation. They've had a remarkable experience. It's an area of great net exporters. The White House is aware of this, but when you visit and see what's going on there you'll realize that it's pretty intense. "I believe we should remove aviation from the negotiation table and go back to 1979. That will only help us." We would also benefit from taking some tools from our trading partners. The U.S. President Donald Trump imposed 10% tariffs on almost all aircraft and parts imports. In early May, the Commerce Department began a national security investigation under "Section 232", which could lead to even higher tariffs. Aerospace Companies in many countries Trump has been urged to refrain from imposing new tariffs. Trump's executive orders on a deal signed with the United Kingdom include tariff-free treatment for airplanes and their parts. GE Aerospace CEO Larry Culp stated that the "U.S. - U.K. Trade Deal eliminating tariffs on aerospace sector is a major step forward in preserving a duty-free environment." He praised the "Trump Administration for recognizing that aerospace is a critical part of the U.S. economic engine and for supporting this deal as an example for future trade deals." Reporting by Joe Brock and David Shepardson, Washington. Editing by Mark Potter & Franklin Paul.
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Rolls-Royce wants to enter the narrow-body market, and it's 'even truer' than ever before.
Tufan Erginbilgic, CEO of Rolls-Royce, said that it was "even truer" on Tuesday that the British jet-engine maker would love to re-enter narrow-body aircraft market. He claimed that he described the single aisle market as a business opportunity in the past and this was "even truer" now. He told reporters attending the Paris Airshow: "We're talking to many parties and they're also talking to us. We obviously engage with Airbus, because they are the ultimate customers and they welcome this." He said that a successful move into narrow-body vehicles could be the biggest boost for Britain's economy. Rolls-Royce and Pratt & Whitney were in an alliance on engines for Airbus A320 one-aisle aircraft until 2011. It pulled out of the alliance for the current generation narrow-body jets, whose sales are booming. Airframers and engine makers are vying for the top spot ahead of the replacements to the Airbus A320 family and Boeing 737. Erginbilgic believes that the airframers will not be moving to the next-generation before 2035. Rolls has developed a smaller version its fuel-efficient Ultrafan demonstration vehicle, which is seen as an important step in reentering the market. Rival GE Aerospace has been testing with French partner Safran their RISE open fan technology for future narrow bodies, which promises fuel savings of around 20% by 2035. Erginbilgic stated that Rolls has previously investigated the rival technology and believes fuel efficiency would be "at best" 2-3% higher with an open fan than its next-generation ducted engines. However, "the risks are much greater". He said, "It's a commercial risk as well as some other risks because you will change the entire aircraft configuration." He said that the risk profile was much greater than developing an efficient ducted motor. Rolls has achieved fuel savings of 2% on some existing engines. He said that the acceptance of radical technologies by passengers should not be ignored. He said, "I don't think passengers will like to see such a large fan." You need to make flying as comfortable and safe as you can. "Even the visual representation is difficult to see."
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Memo shows that JetBlue is planning new cost-cutting measures as breakeven expectations for 2025 dim.
According to an internal memo, JetBlue Airways plans new cost-cutting initiatives such as reducing flight numbers as soft travel demand will make achieving breakeven margins in 2025 "unlikely". In morning trading, the shares of the airline fell by nearly 3%. JetBlue's CEO Joanna Geraghty stated in a memo to staff that the company will also be looking for ways to reduce underperforming routes and focus on more profitable ones. It is also reevaluating the size and scope its leadership team. As a result of ongoing inspections on the Pratt & Whitney Geared Turbofan engine, RTX has grounded a number its aircraft. The trade policies of President Donald Trump and his sweeping tariffs are also causing economic uncertainty, and making Americans more cautious about their travel spending. In a memo, Geraghty stated that "while most airlines are feeling it, we're especially frustrated because we had hoped to achieve break-even margins this year. This now seems unlikely." JetBlue announced earlier that it would defer the delivery of 44 new Airbus aircraft, reducing planned capital expenditures between 2025-2029 by approximately $3 billion. The airline refused to comment on CNBC's report of the cost-cutting measures earlier that day. Reporting by Shivansh Tiwary, Bengaluru. Editing by Devika Syamnath
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Russian Sibur resumes LPG supply to India after doubling LPG loadings at Ust-Luga
According to industry sources and LSEG, Sibur, Russia’s largest producer and supplier of liquefied petrol gas (LPG), doubled the amount of LPG loaded through the Baltic port Ust-Luga from January-May 2025 compared with the same period of 2024, to 418,000 metric tonnes. Sources said that Sibur was able to increase its exports through the shipment of new MGC class (medium-sized gas carriers) gas tankers. Each of these vessels can carry up to 20,000 tonnes of product. LSEG data revealed that the company has also resumed LPG deliveries to India, which it had last done in 2023. Sources said that after EU sanctions were imposed on Russian LPG (except butane and iobutane), at the end 2024, Sibur redirected some volumes from Europe to Ust-Luga for seaborne exports, and searched for new buyers of its product. Up until April of this year, 90% of Sibur's LPG sea cargoes were bound for Turkey. Last month Sibur sent two tankers totaling 40,000 tons of LPG to India. According to traders Sibur has shifted some LPG volumes out of Turkey and into India due to the oversupply on the Mediterranean Market. "There's a lot (of gas) on the Mediterranean market, particularly propane. It is a rational move to divert some of the volumes towards India," said one of the sources. Sibur confirmed their LPG shipments to India from Ust-Luga in May. The company believes the increased LPG shipments from Ust-Luga by Sibur in general is due to an "increase in the available volumes of LPG, since the Russian market (is) currently in surplus." The company's press office stated that it "continually evaluates all markets available and will consider the economic efficiency of deliveries" in regards to the future prospects for Sibur LPG deliveries into India. Sibur supplied LPG to India from Ust-Luga in the third quarter 2023, after European buyers banned LPG purchases. According to traders and LSEG, Sibur will reduce loadings at Ust-Luga Port by 37% in 2024 compared to 2023, to 570,000 tonnes. The European Union placed an embargo at the end of 2023 on the importation of Russian LPG. There was a 12-month period of transition during which exports of propane-butane to Europe were possible under contracts signed before the sanctions. The sanctions are in full force since December 2024.
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The German LNG import terminals
Since the invasion of Ukraine by Russia in 2022, Germany has sought to import liquefied gas to replace Russian gas. The first step was to deploy floating storage units (FSRUs), which receive seaborne LNG. Longer term, it plans shore-based regasification facilities and terminals to import and manufacture ammonia and hydrogen green. Here are the latest updates: MUKRAN Gascade's OAL pipeline connects the terminal on Ruegen Island in Baltic Sea to onshore grids via Gascade. In April, the private operator Deutsche ReGas announced that no regasification slots would be available at Mukran until 2025. They said LNG carriers arrived on a weekly schedule with approximately one terawatt-hour of gas. ReGas had cancelled the Energos Power in February due to its low utilisation. The contract between ReGas, Germany's Economy Ministry and the company for the vessel was officially dissolved on June 16. ReGAs only uses the Norwegian FSRU Neptune of Norwegian operator Hoegh, after saying it was unable to compete with the fees offered by DET (the state-owned Deutsche Energy Terminal GmbH) for cargoes at DET's North Sea terminals. ReGas said that the gas demand would be high ahead of winter next year, citing EU decision to extend requirements for refilling underground storage facilities. ReGas, looking at the long term, has launched a bidding round lasting three months to increase Mukran’s capacity. They are offering 5 bcm extra per year between 2027 and 2043. It plans to restart a second FSRU and restore the full capacity of 13,5 bcm in 2027. LUBMIN ReGas signed a 2024 agreement with Hoegh to convert the Baltic Sea port (a precursor of Mukran) into an ammonia/hydrogen terminal. WILHELMSHAVEN Utility Uniper launched Germany’s first FSRU operations, Wilhelmshaven 1 in the North Sea, 2022. Uniper has plans to build a 200-MW electrolyser that will be powered by local wind energy and a land based ammonia reception terminal. The Excelsior started its operations on May 26 after arriving a month before at the jetty constructed by Tree Energy Solutions. Tree Energy Solutions is a partner with Engie Germany in the project, under DET's supervision. Hanseatic Energy Hub took a final decision in 2024 to invest in a terminal that is ammonia ready and will be located at the Elbe River inland port. The terminal should start operating in 2027. The terminal will cost approximately 1 billion Euros ($1.16 billion). The employment of the FSRU Energos Force has been postponed until further notice. DET and HEH have cancelled their contracts after a dispute over construction schedules and payment was not resolved. BRUNSBUETTEL Brunsbuettel FSRU began operations in 2023 along the North Sea Coast. It was initially chartered by RWE and operated by its trading arm, before being handed over to DET. The facility is a precursor to a land-based Liquefied Natural Gas (LNG) plant that has been approved for 40 million euro of state assistance. The terminal could begin operations by the end of 2026 when an adjacent ammonia facility, which was recently inaugurated, could also be operational. ($1 = 0.8645 euro) (Reporting and editing by Vera Eckert)
IEA: Tighter carbon regulations and a slower economy will erode the growth of bunker demand.
In its annual report, published on Tuesday, the International Energy Agency stated that the demand for marine fuel will be reduced in the future due to stricter environmental regulations and a slower economic growth worldwide.
The Red Sea disruptions, which forced shipping companies to take longer routes, boosted marine fuel sales last year.
The IEA stated that the demand for these fuels (also known as bunkers) could plateau at 5 million barrels a day in 2024-2030 due to weak underlying growth of shipping and increasing costs from stricter maritime environmental standards.
In April last year, the member states of the International Maritime Organization, the United Nations shipping agency, adopted a mechanism for carbon pricing to help the shipping sector reach zero net emissions by 2050.
In the event that final approval is not granted until October 2025, ships will be required to pay a fine for exceeding their target greenhouse gas emissions starting in 2028. UN data shows that shipping transports more than 80% of all goods traded and is responsible for nearly 3% greenhouse gas emissions.
The IEA stated that tariffs would create a harsher trading environment, which could adversely affect bunkers. This could increase the disconnect between maritime trade and economic growth.
The IEA reported that attacks on ships in the Red Sea forced some to avoid using the Suez Canal, initially supporting bunker sales. Last year, international bunkering increased by 140,000 bpd, but this was still only slightly above the trend.
The IEA also noted that the sluggish economic growth, as well as the rising freight and insurance costs, were also a factor. Enes Tunagur reported, Alex Lawler edited and Tomaszjanowski wrote.
(source: Reuters)