Latest News
-
Report: China shipyards orders are strong despite US port charges on China vessels
A new report by the Center for Strategic and International Studies shows that global shipping companies continue to place commercial vessel orders with Chinese shipyards despite the U.S. targeting these ships with port charges aimed at countering China’s maritime dominance. According to CSIS's analysis of S&P Global's data, released on Wednesday, Chinese shipyards took 53% of global ship orders in terms of tonnage for the first eight-month period of 2025. CSIS reported that the fees were on par with the full-year levels of 2023 before the U.S. Trade Representative launched the China maritime investigation, which paved the path for the port charges. Brian Hart, fellow at the China Power Project of CSIS and author of the report, said that "Shipping Companies are largely continuing with business as usual." "At this point, it does not appear that these policies will result in a significant move away from China." China's share in global ship orders based on tonnage has jumped from 67% to 73% by 2024. This suggests that shipowners are trying to lock down contracts before possible USTR restrictions take effect. From October 14, ships that are built in China, or are operated or owned Chinese entities will be required to pay a fee when they arrive at their first US port. Analyst estimates predict that this fee will rise every year until 2028. The U.S. is attempting to boost domestic shipbuilding in order to counter China's increasing naval and commercial power. It's a big task to catch up with China’s state-supported shipsyards. Analysts in the military and industrial sectors said that last year, U.S. shipyards produced fewer than ten commercial vessels, while China built well over 1,000. China has risen to No. 1 in the world over the past two decades. China has risen to the No. 1 spot in the world and its largest shipyards are involved with both commercial and military projects. The U.S. Navy fiscal year 2025 plans said that U.S. shipbuilding had experienced a near total collapse. It called for a long-term revival of this industry to support Navy shipbuilding. CSIS reported that MSC, the world's largest containership operator, has placed orders for 12 vessels to be constructed in China after USTR announced port fees in April of this year. MSC of Switzerland, along with Hapag-Lloyd and Maersk, as well as CMA CGM have taken China-linked vessels off U.S. routes, thus limiting or eliminating the new fees. HSBC analysts say that COSCO Shipping, a Chinese shipping company, is the most exposed to port fees in 2026 with an estimated $1.5 billion. Donald Trump has been a champion for U.S. Shipbuilders. He seeks alliances and investment from powerful countries like South Korea. (Reporting and editing by Marguerita Choy in Los Angeles)
-
FAA extends significant Newark flight reductions through October 2026
The Federal Aviation Administration announced on Thursday that it would extend significant flight reductions at Newark Airport, one of three major airports in the New York City region, until late October 2026, as the agency continues to struggle with an air traffic control shortage and congestion problems. The FAA announced in May that it would be reducing flights at Newark Liberty International Airport, New Jersey until 2025. This was after a series major disruptions caused by United Airlines at its hub. These disruptions snarled up hundreds of flights. They also raised concerns about the ageing U.S. Air Traffic Control System. The order, which cites staffing shortages, limits flights to 72 an hour. This is up from 68 in the beginning of this year, but still lower than the 80 or so before May. The airport has experienced a significant reduction in delays since the cuts. United stated that "the reduced operation, along with the continued focus on ATC staffing and technology upgrades, are crucial milestones towards Newark's operational certainty in the long term." The FAA has extended the cuts in minimum flight requirements for New York's crowded John F. Kennedy Airport and LaGuardia Airport through October 2026. FAA is short about 3,000 air-traffic controllers, compared to the desired staffing levels. The lack of staff has caused delays in flights, and many controllers have been forced to work six-day weekends and mandatory overtime. (Reporting and editing by Doina chiacu and Matthew Lewis in Washington, and David Shepardson in Washington)
-
A group claims that the US funding gap would stop air traffic controllers from being hired.
An industry group on Thursday said that a partial U.S. shutdown next week will stop air traffic controller training and hiring, and cost the U.S. Travel sector $1 billion each week. The U.S. Travel Association (which represents airlines, hotels and car rental companies) has called on Congress for immediate action to keep the federal Government open. They have warned of the negative impacts of a understaffed air traffic system. The group stated that "the consequences of inaction will be immediate and severe," stating it would worsen the staffing shortages for Transportation Security Administration airport security agents and air traffic controllers. "This could lead to longer airport security lines and flight delays and cancellations." According to the Federal Aviation Administration's shutdown plan, released in March, it will not be able conduct air traffic control hiring or training on the field of air traffic controls. However, funding from previous years can still be used for Oklahoma City's air traffic academy. The academy's future without funding is uncertain. The government would require air traffic controllers to continue working, but they would not receive any pay. Last week, the FAA announced that it had hired 2,000 new controllers in this year. They are currently undergoing training. The FAA plans to hire 2,200 more over the next twelve months. In July, the Congress approved $12,5 billion for a major overhaul to be completed over five years. Flights have been delayed due to a persistent controller shortage, and many of them are forced to work six-day weekends and mandatory overtime. The FAA has about 3,000 air-traffic controllers less than the targeted staffing level. During a 35-day government shutdown in 2019, the number of controllers and TSA agents absent increased as they missed paychecks. This led to longer waits at checkpoints. The FAA had to slow down air traffic in New York to put pressure on legislators to end the standoff. (Reporting and editing by Leslie Adler; David Shepardson)
-
Panamanian lawmakers approve canal budget, as treasury takes seen up 15%
The Panama Canal announced on Thursday that the Central American nation's lawmakers had approved the proposed budget of the world-famous global freight channel, 2025/26, for the fiscal year. This is expected to result in an increase in the state contributions. The canal authority reported that for the period October to September, legislators approved a budget of $5.21 billion, which will bring in $3.19 billion into the state's coffers. This is a 14.5% increase over the budget set forth the previous year. The canal predicted a profit of $3.5 billion for the fiscal period ending September last week. The canal expects fewer transits in 2013 due to the global economic instability. It added that the budget approved now includes provisions for certain canal investments. This included its plan to build an $1.6 billion reservoir in order to expand the Canal, a project which has been challenged by local communities. Rio Indio reservoir would result in the displacement of 2,500 people. A group of farmers filed a lawsuit. Panama Supreme Court to hear lawsuit The project is a violation of the constitution, according to the majority of residents. The reservoir will increase the water supply needed to move cargo ships up and down the elevated locks. This is after the 2023 drought caused transits to be reduced. Each transit requires millions of gallons. The Trump administration has pledged to improve the operation of the Panama Canal, despite Washington's pressure. "take back" The waterway is free from the perceived influence of China. China and the United States are competing for economic influence and the United States has been pressuring countries in Central America to limit the presence Chinese companies.
-
Iraqi PM confirms Kurdish region agreement to resume oil exports
After a two-year hiatus, Iraq will resume the export of crude oil from its Kurdish Region to Turkey. This follows what Prime Minister Shia al-Sudani described as an historic agreement between Baghdad's regional government and the Kurdish region. According to the agreement, Iraq’s state oil marketing company SOMO will export crude oil from Kurdish fields via a pipeline into Turkey. Kurdistan Regional Government announced on X, that oil exports would resume in 48 hours following the tripartite accord between the Iraqi oil ministry, KRG Ministry of Natural Resources and oil producing companies. The flow of oil through the Kirkuk to Ceyhan pipeline has been halted since March 2023, after the International Chamber of Commerce (ICC) ordered Turkey pay Iraq $1.5 Billion in damages due to unauthorised exports of Kurdish regional authority. In a press release, the Iraqi oil minister said that it had reached an accord to export all crude from Kurdistan, except for volumes used for local purposes, via SOMO to Ceyhan. The ministry didn't specify when the flow would resume. On Wednesday, eight oil companies in Iraqi Kurdistan representing 90% of production reached an agreement in principle with Iraq's federal government and regional governments on the resumption of exports. Before the suspension of exports, Iraq shipped about 230,000 barrels a day through the pipeline. The Turkish government is appealing against the compensation order that Iraq received for shutting down the pipeline, but it says they are ready to restart. Reporting by Yomna Alashray and Enas Ehab Editing by Elaine Hardcastle and Peter Graff Lisa Shumaker
-
Portugal's Azores are on alert for extreme weather as Cyclone Gabrielle approaches
Portugal's Azores Archipelago closed all schools and shut down public services and tourist activities on Thursday. They urged people to remain indoors in anticipation of cyclone Gabrielle. The Meteorological Agency IPMA put the islands on Red Alert - the highest level of emergency, only used for extreme weather events. Alonso Miguel Alonso, the regional government's environment secretary, told reporters that any activity along the coast and riverside areas was prohibited for the following 24 hours. According to the IPMA, the hurricane was expected to produce sea swells of up to 18 metres (59 feet) and winds between 130-200 kilometres an hour (81-124 mph). About 250,000 people live in the Azores. They are known for their lush volcanic terrain, rainy weather, and free-grazing cattle. (Reporting and editing by PhilippaFletcher; Sergio Goncalves)
-
Mexico President welcomes the billionaire's acquisition of stakes in local Citi retail unit
Mexican Claudia Sheinbaum, president of Citigroup in Mexico, said that it was "good" news on Thursday that a local billionaire signed an agreement to buy a 25% stake. Sheinbaum praised the Citigroup deal that put Banamex in the hands of Mexicans by selling the stake to business magnate Fernando Chico Pardo who chairs airport operator ASUR for $2.3 billion. Analysts viewed the announcement as an important step in Citigroup's divestment. The value of the Banamex stake at $9.12 billion effectively sets a floor for any potential Initial Public Offering (IPO). In a telephone interview, Wells Fargo bank analyst Mike Mayo said, "At the very least, it clarifies how much money a complete divestiture would raise". In a Thursday note, Mayo stated that a possible Banamex IPO may be delayed until mid-to-late 2026 instead of the previously expected early 2026 timeline. Ebrahim Poonawala, an analyst at Bank of America, said that the deal was a positive step in achieving higher profitability. Poonawala believes the deal is a replacement for a share sale at an IPO. Citigroup estimated that they would sell between 15 and 20% of the shares in the initial transaction. In a Thursday note, he stated that the deal "could be viewed as a possible floor price for Banamex before an IPO". The analyst said that Fernando Chico Pardo and Banamex have a long-standing relationship. His wife Veronica Hernandez is the sister Roberto Hernandez, the former owner and CEO at Banamex. Reporting by Kylie Madry, Tatiana Bautzer and Hugh Lawson; Editing by Aida Pelaez-Fernandez & Hugh Lawson
-
Denmark informs Latvia that drone activity is linked to state actor
Baiba Braze, Latvia's Minister of Foreign Affairs, said that Denmark had informed its allies about drone incursions in Denmark that briefly affected airports and military installations. Braze told a reporter that the Danish government had said that it was a state-run activity. "We will wait to hear more from our Danish counterparts, but we are all clear that we must invest in counter-drone capabilities, both on the side of our allies and our own." The Danish Foreign Ministry did not respond immediately to a comment request. Denmark said Thursday that the incidents are hybrid attacks intended to spread fear. However, authorities were unable to identify the perpetrators. Latvia has developed counter-drone capability, including acoustic sensor, and worked closely with Ukraine which is subject to drone attacks almost every day from Russia. "We have invested consciously in counter-drone activities. These scenarios are also asymmetric. "It's difficult to know when and where," said she. Braze said that it was difficult to deal with countries such as Latvia and Denmark, given that they are not at war. Their airspace is not closed like in Ukraine. There's a great deal of legitimate activity going on. "We have to work it out correctly," she said. The EU is looking into how to build a "drone fence" along the EU’s eastern border. This project has been given a new urgency after a Russian drone intruded into Poland. Analysts and officials claimed that the incursion revealed gaps in Europe and NATO's capability to protect against drones. However, Polish and NATO forces did shoot down a few of them using expensive air defense systems and warplanes. "The time you need to accomplish this is very short, and you also don't want F-35 fighters," Braze said, whose nation leads a NATO coalition that aims to move the alliance on this issue. (Reporting from John Irish and Jacob GronholtPedersen in Copenhagen, editing by Michelle Nichols & Howard Goller).
Cisco releases software to connect a cloud of quantum computing
Cisco announced on Thursday a new tool that will allow users to easily develop applications by combining quantum computers made by different manufacturers into a cloud.
Microsoft, IBM, and Google, among others, are investing heavily in the development of their own quantum computer, which uses quantum physics properties to solve complex computing problems more quickly than traditional machines. Cisco, the major supplier of networking equipment for classical machines, is taking a different approach, and aiming to develop a new category networking chips that will connect quantum machines.
Cisco is working on software to connect quantum machines. Cisco announced that it would release the tool for download in a week. It will analyze a quantum problem, and then divide it across multiple machines, including those using fundamentally different approaches.
Cisco wants to break down problems that software developers are trying to solve, and then assign each piece to the computer that is best suited to that part of the problem.
Vijoy Pantdey, senior Vice President of Cisco's Outshift Innovation incubator, said: "You, as a customer, should not be concerned about the types of technology that exists." "We will deal with that complexity." Reporting by Stephen Nellis, San Francisco; Editing by Diane Craft
(source: Reuters)