Passenger Ground & Sea Transportation








Asia

North America

Passenger Ground & Sea Transportation

Cargill and LDC among the winners of Brazil's port auction

Cargill and BTG Pactual Commodities, as well as a consortium consisting of Louis Dreyfus, Brazilian grain trader Amaggi and the Louis Dreyfus Group have been awarded rights to operate 3 terminals in Paranagua Port on Wednesday. The competitive auction that involved multiple bidders highlights the importance to improve Brazilian logistics within the context of the global trader's war. The companies bid a total of 855 million reais (about 151 million dollars) at an auction held by the Sao Paulo Stock Exchange for the right to operate three different Paranagua zones for 35 years. Global grain traders are preparing to meet...

Transport Infrastructure

Trump is expected to sign an executive order on US Shipbuilding, according to sources

Three sources familiar with this matter say that U.S. president Donald Trump will sign an executive directive on Wednesday, aiming to re-energize U.S. shipbuilding while reducing China's hold on the global shipping sector. For years, Republican and Democratic U.S. legislators have warned of China's increasing dominance in the seas as well as the diminishing U.S. navy readiness. The draft executive order, seen by the, states that the U.S. will charge docking fees to any ship in a fleet of Chinese-built or Chinese flagged vessels. It also threatens to retaliate against allies who do not follow suit. Sources who declined to...

Transport Infrastructure

US pulls out of carbon talks with shipping and urges others to do the same - document

A diplomatic note stated that the United States had withdrawn from London talks on decarbonisation of shipping and Washington would consider "reciprocal actions" to offset any fees assessed to U.S. vessels. This week, delegates are meeting at the UN Shipping Agency's headquarters to discuss decarbonisation measures that will enable the shipping industry worldwide to achieve net zero emissions by "around 2020". A proposal submitted by a group of countries, including the European Union to the UN International Maritime Organization was aimed at reaching agreement on the first carbon levy in shipping for greenhouse gas (GHG). The United States has sent...

Ground Transportation

US pulls out of carbon talks with shipping and urges others to do the same - document

A diplomatic note stated that the United States had withdrawn from London's talks on decarbonisation of shipping and Washington would consider "reciprocal" measures to offset any fees levied to U.S. vessels. This week, delegates are in the UN Shipping Agency's headquarters for discussions on decarbonisation initiatives aimed at helping the shipping industry reach net zero emissions by "around 2020". A proposal submitted by a group of countries, including the European Union to the UN International Maritime Organization was aimed at reaching agreement on the first carbon levy in shipping for greenhouse gas (GHG). The United States has sent a diplomatic...

Passenger Transportation Services

Barrick's Reko Diq Project in Pakistan seeks new funding

Barrick Gold’s Reko Diq gold and copper project in Pakistan plans to secure up to $2 billion from international lenders. Term sheets will be signed in early Q3, according the project director of the mine. The funding will be used to support the development and expansion of Reko Diq, one of the largest copper-gold deposits in the world. It is expected that the mine can generate free cash flows of $70 billion, as well as operating cash flows of $90 billion. The project is jointly owned by Barrick Gold, the government of Pakistan, and the government of Balochistan. Multiple lenders...

Passenger Transportation

Amazon's soy shipping route to Brazil is disrupted by protests and poor roads

The poor road conditions and protests by indigenous groups have caused the shipment of Brazil's bumper soya bean crop to be delayed this week at the port of Miritituba, in the Amazon rainforest. This is where major grain traders such as Cargill and Bunge operate. The demand for soy, which is produced and exported by Brazil, the largest producer in the world, has risen dramatically. China is the world's No. 1 soybean consumer, as traders prepare for a potential trade war that could discourage Chinese imports. Miritituba loaded 15 million tons soy and corn onto barges last year, bound for...

Ground Freight & Logistics

Illinois corn farmers are worried about losing sales to Mexico because of Trump's tariffs

The tariffs imposed by U.S. president Donald Trump on Mexican imports pose a significant risk to farmers in Jacksonville. This is because Mexico's retaliation could cause corn buyers to switch to South American rivals. Mexico is the top corn-importing country in the world. At a time when prices of grains have plummeted and chemical and seed costs for crops are on the rise, this market is crucial for U.S. producers. Farmers in Jacksonville, a small city of 17,000 residents, are more likely to benefit from Mexican demand than other farmers. The residents live near a grain loading facility where corn...

Ground Freight

US reviews the possibility of rescinding $4 billion in California grants for high-speed rail

The Trump Administration announced on Thursday that it will review the decision to rescind $4 billion in funding for California's High-Speed Rail Project. The project was approved by voters in 2008 for $10 billion, but costs have increased dramatically and President Donald Trump is a harsh critic of the effort. Under former president Joe Biden, the Transportation Department awarded more than $3 billion to this project. The initial estimate of the total project cost was $40 billion. However, that number has risen to $89 billion and $128 billion. California High-Speed Rail Authority has not yet issued a statement. Federal Railroad...

Passenger Ground & Sea Transportation

US withdrew approval of New York City congestion pricing program

The Trump administration announced on Wednesday that it was rescinding its approval of New York City’s congestion pricing program, which aims to reduce traffic while raising billions for upgrading New York’s aging bus and subway systems. U.S. Transportation secretary Sean Duffy announced that the move would stop the program, which began on 5 January and charged most drivers $9 for entry into Manhattan. The program was designed to support the Metropolitan Transportation Authority. He criticised the toll system that "leaves motorists without any free alternative highway and instead takes more money from workers to pay for a transport system and...

Transport Infrastructure

New york city states 1 million fewer automobiles have entered Manhattan considering that blockage rates start

New York's congestion pricing has led to 1 million total less vehicles going into the busiest part of Manhattan and cut commuting times because the program started on Jan. 5, a transit company said on Wednesday. The Metropolitan Transport Authority stated incoming trips times on all Hudson and East River crossings are now 10% to 30%. quicker or more, while bus service has actually likewise enhanced. Train. ridership has actually grown by 7.3% on weekdays and 12% on weekends over. January 2024. Under the program, passenger automobiles are charged $9 throughout. peak periods in Manhattan south of 60th Street. Trucks...

Transport Infrastructure

New Jersey governor prompts Trump to examine New York City's blockage rates plan

New Jersey Governor Phil Murphy on Monday asked President Donald Trump to reconsider the federal federal government's approval of New york city City's firstinthenation blockage prices program that started on Jan. 5. Murphy, a Democrat, said the program is a catastrophe for New Jersey commuters and must get the close look it should have from the federal government. Under the program, traveler cars are charged $9 throughout peak durations in Manhattan south of 60th Street. Trucks and buses pay up to $21.60. The charge is minimized by 75% in the evening. It is developed to reduce traffic and raise billions...

Passenger Ground & Sea Transportation

British Service - Jan 20

The following are the leading stories on the business pages of British papers. Reuters has not confirmed these stories and does not guarantee their precision. The Times - British transport operator FirstGroup is campaigning to avoid plans by the new transportation secretary to end private operations on the government's renationalised trains. - Plane is offering financial backing to secret suppliers to enhance production in 2025, after missing delivery targets last year due to supply chain disruptions, including concerns with engine provider CFM. The Guardian - UK medics carried out a groundbreaking operation, getting rid of a. formerly inoperable brain tumor...

Europe

Ground Transportation

Iberia's power outage leaves people stuck in lifts, trains and supermarkets

Major power outages in Spain and Portugal have left many people stuck in lifts, on trains and in supermarkets. Others are walking home or stocking up in the supermarkets. At Atocha station, the main Madrid railway station, trains were at a complete standstill. The ATM screens were blank, and the police tried to direct people towards central gathering areas. Ana Cordero was a Puerto Rican tourist who had just left Madrid to go to Barcelona when the electricity went out. She and her partner were stuck on the train in Barcelona for three hours. She said, "After an hour or...

Passenger Transportation Services

Morocco launches $10 billion rail expansion plan

State media reported that Morocco's King Mohammed V gave his approval on Thursday to a rail expansion project worth 96 billion dirhams (10,3 billion dollars), which includes the construction of a fast-track line from Marrakesh (the country's tourist center) by 2030. The extension of high-speed rail, intercity, and urban networks has been a result of Morocco's preparations for co-hosting the World Cup 2030 with Spain and Portugal. The country hopes that the investments will also help to develop its fledgling rail industry. The 53 billion dirhams high-speed rail line will run from Kenitra, on the Atlantic Coast, 430 km south...

Passenger Transportation Services

Strike by Greek workers over wages stops ships, planes, and trains

The strike of Greek workers, which began on Wednesday, caused ferries to dock at ports, flights into and out of the country to be grounded, and trains to stop running. Greece's biggest trade unions demanded higher wages in order to deal with rising costs. Greece is now out of its debt crisis from 2009-2018, which resulted in wage and pension cuts that were repaid by bailouts totaling 290 billion euro. The economic growth rate of 2.3% in this year is outpacing that of other economies within the eurozone. Since 2019, the conservative government has raised the minimum wage monthly by...

Western Europe

East Asia

Transport Infrastructure

Trump signss executive order to revitalize US Shipbuilding

On Wednesday, U.S. president Donald Trump signed an Executive Order aimed at revitalizing U.S. Shipbuilding and reducing China’s grip on global shipping. For years, Republican and Democratic U.S. legislators have warned of China's increasing dominance in the seas as well as the diminishing U.S. navy readiness. The order instructs the U.S. trade representative to proceed with a plan, which includes charging U.S. docking fees for any ship in a fleet of vessels that are Chinese-built or Chinese flagged. Allies will also be encouraged to follow suit. The Department of Homeland Security is also required to enforce the collection of Harbor...

Passenger Transportation Services

Sources say that the US is considering adjusting its port fees plan for Chinese vessels in response to pushback.

Six sources claim that the Trump administration may soften its proposed fee for China-linked vessels visiting U.S. port after receiving a lot of negative feedback. The industries said it could be financially devastating. Six sources familiar with the issue said that the six changes being considered include a delayed implementation as well as new fee structures aimed at reducing the cost of visiting Chinese vessels. Sources asked to remain anonymous due to the sensitive nature of the subject. The White House, and the Office of the U.S. Trade Representative(USTR), the government agency involved in the draft of the proposal, have...

Passenger Ground & Sea Transportation

Eneos, a Japanese company, will cease lubricants manufacturing at Yokohama in March 2028

Eneos Japan, the largest oil refiner in Japan, announced on Tuesday it would gradually stop production of lubricants, and certain petroleum products, at its Yokohama facility near Tokyo, by March 2028. However, they will look into moving lubricants to other facilities. In a press release, the company stated that the decision was made after a thorough review of the refining landscape and the marketing landscape. This included a structural decline in the domestic demand for petroleum and the intensifying competition in Asia. Eneos Holdings' Eneos unit said: "We have determined that it is urgent to restructure our production and supply...

Passenger Ground & Sea Transportation

China's Pony.ai eyes robotaxi services in Hong Kong, joining Baidu

Guangzhoubased Pony.ai Inc. is looking for to release its robotaxi services in Hong. Kong, signing up with Baidu in a race to supply services in. the city, as the self-governing driving firm looks to broaden its. operations internationally. Nasdaq-listed Pony.ai strategies to supply robotaxi travelling. services for airport personnel within Hong Kong International. Airport before broadening into other city locations in the city, the. company stated in a declaration late on Friday. It did not provide a. timespan for the launch. Chinese artificial intelligence giant Baidu is likewise considering. the launch of its driverless taxi service in the city after...

Passenger Ground & Sea Transportation

Beijing unveils plans to increase driverless vehicle use in capital

China's capital Beijing passed brand-new regulations on Tuesday to encourage self-governing driving technology in the city, with authorities preparing to ultimately permit driverless public buses and taxis. Self-governing automobiles that pass roadway screening and security assessments will be enabled to look for roadway trials, the state-backed Beijing Daily paper reported, which stated the new guidelines take effect from April 1. The city supports making use of autonomous automobiles for personal vehicles, metropolitan buses, cable cars and taxis, it said, adding that it wishes to encourage the building and construction of smart road infrastructure to support such transport. In a separate...

Passenger Transportation Services

China extends license age limitation for truck, bus motorists as population ages

China will extend licence age limitations for motorists of mediumsized and big buses also as trucks, as part of broader efforts to attend to the obstacles positioned by an aging population, falling birth rate and a shrinking labour swimming pool. Keeping older transportation workers on the payroll will be essential to helping preserve stability throughout China's huge transportation system in the medium-term as the sector prepares to embrace more self-governing vehicles. Just over a years back, the capital Beijing enabled male bus drivers to retire five years earlier - at the age of 55 - for health factors, as it...

Ground Transportation

Japan's Nikkei touches more than a week high on hopes of strong US economy

Japan's Nikkei share average touched its highest in more than one week on Monday, as financiers bought stocks anticipating the U.S. economy to stay strong. The Nikkei reached 39,053.64, hitting its greatest given that Nov. 15, before ending the early morning session 1.53% greater at 38,868.68. The more comprehensive Topix was up 1.02% to 2,747.14. Abroad factors are essential for Japanese stocks now as we have actually not seen much market moving catalysts within Japan, said Fumio Matsumoto, chief strategist at Okasan Securities. Wall Street closed greater on Friday, with all 3 major indexes posting weekly gains, as financiers basked...

Passenger Transportation Services

Chinese self-driving firm WeRide notches $4.21 bln valuation in US IPO

Self-driving firm WeRide notched an appraisal of $ 4.21 billion after raising $120 million in its U.S. initial public offering (IPO) on Friday, ending up being the latest Chinese company to capitalize on reducing regulatory hurdles to list in New York. The company offered 7.7 million American depositary shares in the offering at $15.50 a piece, the lower end of its targeted range of $15.50 to $18.50 per ADS. It likewise raised around $320.5 million in a concurrent personal positioning. WeRide anticipates to raise an overall of $458.5 million from both the IPO and the personal placement. The Chinese firm,...

Passenger Transportation Services

Tokyo Metro shares untraded on market debut

Tokyo City saw its stock untraded on its Tokyo market launching on Wednesday with a. excess of buy orders in early trade. Tokyo Metro, one of the capital's 2 major train. operators, raised $2.3 billion after pricing its initial public. offering at the top of an indicative variety at 1,200 yen apiece. The IPO was more than 15 times oversubscribed, Reuters has. reported, with financiers drawn to a family name with an. appealing dividend yield. The listing of a big company familiar to individual. financiers has a large benefit in widening the investor base,. Toshio Morita, CEO of the Japan...

Ground Transportation

Tokyo City set to raise $2.3 bln in Japan's biggest IPO in 6 years, sources state

Tokyo City is anticipated to raise 348.6 billion yen ($ 2.3 billion) after rates its initial public offering at the top end of its variety, according to 2 sources familiar with the matter, in the largest IPO in Japan for 6 years. The IPO was more than 15 times oversubscribed, stated the sources, with the firm's dividend yield seen as an appealing proposition by many including retail investors drawn to a. home name. The business has priced the shares at 1,200 yen apiece,. compared to a series of 1,100 to 1,200 yen, according to the. sources, who decreased to be...

Transport Infrastructure

Tokyo City set to raise $2.3 bln in Japan's greatest IPO in years, sources state

Tokyo Metro is expected to raise 348.6 billion yen ($ 2.3 billion) after pricing its going public at the top end of its range, according to two sources knowledgeable about the matter, in the biggest IPO in Japan for 6 years. The company has actually priced the shares at 1,200 yen each, compared to a series of 1,100 to 1,200 yen, said the sources, who declined to be called as the info is not public. Tokyo Metro declined to comment. One of Tokyo's two major subway operators, the company is set to announce the rates later Tuesday and list on...

Passenger Ground & Sea Transportation

Carlyle-backed Rigaku wants to raise up to $870 mln in Tokyo IPO

Japan Xray screening tool maker Rigaku set a tentative going public (IPO) price range of 1,230 to 1,260 yen ($ 8.48) per share versus a preliminary quote of 1,230 yen, a regulative filing showed on Wednesday. At the top of the range, Rigaku, which is backed by buyout company Carlyle Group, would raise approximately 129 billion yen ($ 870 million), consisting of an overallotment. Rigaku's final IPO rate will be selected Oct. 17, before the Tokyo Stock market listing on Oct. 25. Japan's stock exchange suffered a selloff in early August, sparked by a surprise rate of interest walking and...