Latest News
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Peninsula broadens supply of standard and alternative marine fuels
International marine fuel supplier Peninsula is broadening its existence in Middle East markets for traditional bunker fuels, while increase the supply of alternative fuels in other areas, a senior executive stated. We have actually just introduced new physical supply operations in Abu Dhabi and Jebel Ali to match our existing operation in Fujairah, so we are focused on structure considerable volume in those ports, Kenny MacLean, Peninsula's chief operating officer, told Reuters on the sidelines of SIBCON 2024 this week. The company has actually protected bunker licences for both ports, adding to Peninsula's services at more than 500 ports globally, stated MacLean. The re-routing of ships around South Africa due to the Red Sea crisis has enhanced sales volumes in Mauritius and Las Palmas, along with in the Western Mediterranean ports of Gibraltar and Algeciras. The deviations are now deemed the 'new regular' by delivering traffic, so the need has actually now been normalised, he stated. The company is likewise preparing to improve the supply of alternative fuels amidst market efforts to cut emissions. Our professional LNG bunkering vessel, Levante LNG, is running in the Western Mediterranean, so we are naturally seeing demand there, said MacLean. We are also providing LNG options in Southeast Asia, Antwerp, Rotterdam and Amsterdam, plus various other ports where customers have LNG requirements, he added. The business will focus its LNG bunker services on traditional shipping lanes and places closer to LNG infrastructure and filling centers. Maclean also sees a substantial boost in marine biofuel need for 2025, particularly in the EU after emissions trading system and maritime environment policies were tightened. The business has chemical tankers which can supply any ratio of biofuel in line with client requirements, he added. Peninsula is dealing with third parties and investing in the advancement of methanol and ammonia bunkering, though material demand for these fuels is unlikely to emerge in the meantime, stated MacLean.
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GXO Logistics checks out sale after receiving takeover interest, source says
GXO Logistics, a. service provider of logistics services with a market value of roughly $6. billion, is checking out a potential sale after receiving takeover. interest, according to an individual familiar with the matter. GXO, which was spun off from trucking company XPO in 2021,. is dealing with a financial consultant to field acquisition. interest from suitors, that include rival logistics providers,. the source stated, asking for anonymity as the discussions are. confidential. It has actually not made a decision to continue with a sale, and. it is possible that the talks might not lead to an offer, the. source included. A spokesperson for the Greenwich, Connecticut-based company. declined to comment. GXO's shares jumped more than 8% on the news in trading. after the bell on Wednesday. GXO is among the world' biggest companies of supply chain. management tools. Its services consist of AI-powered robotics,. transport, warehousing, and logistics for industries such. as aerospace & & defense, e-commerce, healthcare, and consumer. packaged products. GXO has actually had a hard time as a publicly traded business, having lost. more than a fifth of its market value because it was spun off from. XPO. Coming to grips with slow consumer need in the UK and Europe. in 2015, its shares have actually fallen some 17% this year,. underperforming a 6% drop in the S&P 500 Air Freight & & Logistics. index. The decline in its share cost has actually assisted. make it an appealing acquisition target. However, in recent quarters, GXO has seen an uptick. in its fortunes as it has actually signed new clients. The business. reported revenue development of 19% to $2.85 billion in its most. recent quarterly revenues report. Essentially, GXO's long-lasting agreement design provides a. extremely noticeable, predictable, and durable monetary profile. Under the surface area, agreement periods are lengthening and GXO's. proficiency in robotics and AI is driving meaningful brand-new organization. wins with a record sales pipeline that now sits at $2.3. billion, Jefferies analysts said in an Aug. 6 note. The business, which counts the similarity Apple, Nike. , Nestle and Whirlpool amongst its. consumers, has more than 130,000 employees across more than 970. centers.
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Two airplanes cleared to utilize very same runway in Nashville near-collision, NTSB states
Airtraffic controllers cleared an Alaska Airlines jet last month to remove at Tennessee's Nashville International Airport on the very same runway where a Southwest Airlines plane had been cleared to cross, the National Transport Safety Board stated on Wednesday. The Sept. 12 event prompted Alaska Airlines Flight 369 , a Boeing 737 MAX 9 airplane with 176 people on board, to terminate takeoff to prevent an accident. The Alaska pilots quickly applied the brakes, blowing the plane's tires. The NTSB said a ground controller cleared the Southwest plane to cross Runway 13 just after 9:13 a.m. and 23 seconds later another controller cleared the Alaska aircraft to depart. The Federal Air travel Administration referred questions to the NTSB, which is leading the investigation. The FAA has actually a. separate examination into the event, where Southwest. Airlines Flight 2029 - a Boeing 737-700 with 141 people. onboard - was set up to depart for Jacksonville, Florida. Over the last 2 years, a series of near-miss incidents. have raised concerns about U.S. aviation security and the strain. on understaffed air-traffic-control operations. FAA. Administrator Mike Whitaker stated last month the variety of. serious runway-incursion incidents had fallen by over 50%. Tracking site Flightradar24 stated the Alaska airplane was. traveling at 104 knots (120 miles per hour, 193 km per hour) on the runway. before slowing. The FAA stated in April it would set up brand-new surface-awareness. innovation at four airports consisting of Nashville's by July. The. FAA previously declined to discuss whether the technology was. operating. In June, the NTSB discovered that incorrect assumptions by an air. traffic controller caused a February 2023 near-collision in between. a FedEx aircraft and a Southwest airplane in Austin, Texas. The 2 aircrafts came within about 170 feet
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Boeing made minor motions before ending talks, union arbitrator said
Boeing used improvements to its crucial production union before breaking off talks, however the modifications were small and not in important locations required to help fix a near monthold strike, a union negotiator told Reuters on Wednesday. On Tuesday, Boeing stated it withdrew its pay offer to around 33,000 members of the International Association of Machinists and Aerospace Workers (IAM), saying the union had not considered its proposals seriously after 2 days of talks. The U.S. planemaker had said it made new and improved proposals to try and reach a compromise, including boosts in take-home pay. Union lead negotiator Jon Holden told Reuters in an interview that Boeing used some improvements connected to minimum guarantees for a yearly performance bonus but did not move on general demands for greater incomes. They're attempting to take credit for really minor, very weak motion that wasn't truly touching on the major concerns in a. manner in which we might even get that in front of our members, said. Holden, president of IAM District 751. The locations where they didn't make enhancements are. glaring. Holden stated that Boeing's removal of its offer is. important because some of his members wish to vote. He said the. union is concentrated on the strike, and has an extremely strong fund to. support spend for the blockage, however would not describe the state. of talks as being at a deadlock. Regrettably, the union did not seriously consider our. propositions, Boeing Commercial Airplanes head Stephanie Pope stated. in a note to the staff members on Tuesday, calling the union's. needs non-negotiable. More settlements do not make good sense at this moment, she. stated. The breakdown substances monetary and production problems at. Boeing, among the 2 primary worldwide commercial aircraft. makers. The business has actually been burning money in 2024 as it. battles to recuperate from a January mid-air panel blowout on a. new aircraft that exposed weak security protocols and stimulated U.S. regulators to curb its production. Earlier this year, Boeing changed its CEO Dave Calhoun with. Kelly Ortberg, who began in August with the want to pull. together a labor offer and shore up the company's track record with. customers and regulators. Up until now, none of that has actually occurred. Boeing is now examining choices to raise billions of dollars. to support its balance sheet. Reuters reported that it was. looking to offer stock and equity-like securities, with its. treasured investment grade credit rating at threat. The business has actually also presented temporary furloughs for. thousands of salaried employees, while the factories producing. its very popular 737 MAX and its 767 and 777 aircrafts are shut. Shares of the U.S. planemaker were down 1.7% in premarket. trading on Wednesday. The stock has actually lost more than 40% of its. value in 2024, with a 5% fall since the strike started on Sept. 13. Describing the 2 days of negotiations, Pope said, Our. team negotiated in excellent faith and made new and better proposals. to try to reach a compromise, including boosts in take-home. pay and retirement. The International Association of Machinists and Aerospace. Employees union pushed back on those assertions, stating that. Boeing was determined on basing on the non-negotiated offer. proposed last month. They declined to propose any wage boosts, vacation/sick. leave accrual, progression, ratification benefit, or the 401k. Match/SCRC Contribution. They also would not reinstate the. specified benefit pension, it stated. The union, which represents factory employees on the west. coast, wants a 40% pay increase over 4 years and the repair. of a defined-benefit pension that was eliminated in the contract. a years ago. More than 90% of employees voted down an offer of a. 25% pay rise over four years before going on strike. Boeing made an improved deal last month that it explained. as its best and final, which would give workers a 30% raise. and bring back a performance bonus, but the union said a survey of. its members discovered that was inadequate.
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Russian missile attack on Ukraine's Odesa port area kills six, guv states
A Russian ballistic rocket attack on Wednesday on the port infrastructure of Ukraine's southern Odesa area eliminated 6 individuals and injured 8, Odesa Regional Governor Oleh Kiper said. The injured were all Ukrainian nationals, Kiper composed on the Telegram messaging app. Four remained in major condition. Deputy Prime Minister Oleksiy Kuleba stated a. Panamanian-flagged container ship, the Shui Spirit, sustained. damage in the attack. An insidious opponent is trying to disrupt the work of the. Ukrainian grain passage, killing civilians and damaging. infrastructure, Kiper composed in his post. The attack on the port of Chornomorsk was the 3rd in the. area in the previous 4 days. Ukrainian officials stated a Russian missile struck a. Palau-flagged vessel in Odesa port on Monday, eliminating one. Ukrainian national and injuring 5 foreign nationals. And on Sunday, a Russian rocket damaged a civilian Saint. Kitts and Nevis-flagged vessel loaded with corn in the port of. Pivdennyi. Under an offer brokered by Turkey not long after Russia's February. 2022 intrusion of Ukraine, ships bring cargoes from Ukrainian. ports operated without obstacle for about a year before Russia. took out of the arrangement. Vessels have because been utilizing an alternative route, hugging. Ukraine's southwestern Black Sea coast through Romanian waters. and on to Turkey.
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Air travel industry prompts steps to prevent unapproved parts from airplane use
A report provided by an aviation industry coalition on Wednesday called for new actions to help prevent future unapproved parts from going into the aviation supply chain. The report from the Air travel Supply Chain Stability Coalition that was produced in February called for reinforcing supplier accreditation, digitizing documents and enhancing part traceability. It likewise proposed adopting best practices for receiving and checking parts and scrapping and ruining non-usable product. In 2023, jet engine maker CFM International, co-owned by GE Aerospace and France's Safran, said thousands of engine parts may have been sold with created documentation by British supplier AOG Technics. In December, British police made an arrest and launched a probe into claims that the London-based firm had actually distributed fake parts for aircraft engines. These recommendations will close holes and include new layers of safety to reinforce the integrity of the supply chain, said previous National Transportation Security Board chair Robert Sumwalt, among the group's co-chairs. We were able to stop a rogue star and quarantine the parts last year thanks to swift action from the air travel industry, however more is required to stop anybody who tries to take a. faster way in the future. GE Aerospace led the development of the Air travel Supply. Chain group that consists of Boeing, Airbus, Safran. , American Airlines, Delta Air Lines and. United Airlines. The report said that less than 1% of CFM engines in service. were impacted by the concern however said the occurrence showed more. needed to be done. The concern impacted a small number of CFM56. models, the world's most-sold guest jet engine.
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Gas line connection to Exxon's FPSOs in Guyana completed, executive says
A pipeline that would allow Guyana to bring natural gas produced by an Exxon Mobilled consortium to coast has actually been connected to 2 of the job's. drifting production platforms, Exxon's head for Guyana was. reported as stating on Wednesday. The Gas-to-Energy project by Guyana's government aims to. feed a 300-megawatts power plant and a gas liquids (NGL). facility with gas produced at 2 Floating Production Storage. and Offloading (FPSO) facilities that become part of Exxon's. Stabroek block. The 200-kilometer (124.3-mile) pipeline could be in service. by year end, Exxon Guyana chief Alistair Routledge informed regional. reporters, according to Newsroom Guyana. The task, expected to assist lower electricity costs. and decrease emissions as soon as finished next year, will be the first. to make the most of associated gas produced in the nation. Guyana has up until now invested some $400 million in the. development. The Exxon consortium, likewise incorporated by China's CNOOC. and U.S. Hess, briefly stopped crude and. gas output at the platforms in the third quarter to allow the. pipeline connection. Risers have actually now been successfully connected to the. pipeline, and we have been carrying out numerous tests and. de-watering exercises to guarantee whatever is working. properly, Routledge said.
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Airbus confirms deliveries fell to 50 jets in September
Jet deliveries fell 9% in September to 50 airplane, compared to the exact same month last year, the European planemaker stated on Wednesday. The figure, which verifies a current Reuters report, brings deliveries up until now this year to 497 jetliners, up 2% from 488 at the nine-month phase a year back. Plane is targeting 770 deliveries for the complete year after decreasing its goal from 800 jets in July, citing lacks of engines and other parts as the aerospace industry's supply chain struggles to recuperate from the pandemic. Reuters, pricing quote industry sources, reported on Friday that Airbus had actually provided 50 jets in September, leaving it facing a. sprint towards the goal in the typically hectic fourth. quarter. Plane has said it is on track to satisfy its yearly target of. around 770 jets. The figures suggest that Plane would have to deliver 273. aircraft in the 4th quarter to meet its heading target. figure, up 11% from the same quarter last year. Airplane and Boeing supplier Elder stated on. Tuesday it was cutting headcount in response to obstacles in. commercial aerospace manufacturing, sending its shares tumbling. Senior said it was turning to both furloughs and task cuts. in response to a continuous strike at Boeing's business airplane. operations and supply chain problems dealing with Plane.
Sable anticipates to reboot overseas California oil pipeline by year-end
Sable Offshore stated on Monday it was anticipating to restart the Santa Ynez oil and gas pipeline off the Californian coast by the end of the year after it was shut for nearly a years following a major oil leak.
The business, however, warned that there was no assurance it would acquire the necessary authorizations to reboot the pipeline.
The Santa Ynez unit consists of three overseas oil platforms, an onshore processing center and a pipeline off the coast of California, connecting the Santa Barbara Channel to the Las Flores Canyon liquids storage terminal.
Exxon Mobil has actually been trying to resume production after a leak in 2015 sent out 2,400 barrels of oil into the Pacific Ocean.
Sable Offshore, a blank check business created in 2020, concurred more than a year ago to pay $643 million for Exxon's. Santa Ynez oil and gas operation.
Nevertheless, if Sable Offshore fails to restart production at. the Santa Ynez field by the start of 2026, Exxon might take back. the whole operation, it added.
The company likewise stated that the California Coastal Commission. ( CCC) has actually asked for extra information, and Sable's. subsidiary, the Pacific Pipeline Business (PAY PER CLICK), is working to. react to those requests.
Pending more engagement with the CCC, the pay per click stated it had. moved all teams out of the Coastal Zone to other areas of the. pipeline complex to continue with the staying repair work.
Earlier this year, Exxon noted that difficulties in. California's regulatory environment were hindering progress in. restoring operations at Santa Ynez systems.
Analysts at TD Securities said an earlier reboot in the. 4th quarter, which they assumed could have been in October,. would have enabled Sable to reach prior production levels near. 28,000 barrels of oil equivalent daily (boepd) by year-end.
All eyes are on the 2025 run-rate and expected first. dividend payment in the second half of 2025, they added.
(source: Reuters)