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Yemen Red Sea port capacity down greatly after hostilities, UN says
Operations at a Red Sea port in Yemen utilized for aid imports have actually fallen to about a quarter of its capability, a UN official stated on Tuesday, including it was not particular that a Gaza ceasefire would end attacks in between the Iranbacked Houthis and Israel. Houthis have actually launched attacks on worldwide shipping near Yemen because November 2023 in solidarity with Palestinians in the war between Israel and Hamas in the Gaza Strip. This has triggered Israel to strike port and energy facilities, consisting of the Red Sea port of Hodeidah. ( The) effect of airstrikes on Hodeidah Harbour, especially in the recentlies, is very important, Julien Harneis, U.N. resident and humanitarian organizer in Yemen told a U.N. meeting in Geneva on Tuesday through videolink. 4 of the port's five tugboats required to escort the big ships bringing imports had sunk, while the fifth was damaged, he said, without attributing blame. The civilian teams who man them are undoubtedly extremely reluctant. The capacity of the harbour is down to about a. quarter, he added, saying the port was used to transit a. considerable portion of imported help. Since a Gaza ceasefire arrangement last week, Yemen's Houthis. have stated they will limit their attacks on industrial vessels to. Israel-linked ships, provided the Gaza ceasefire is fully. implemented. We are confident that peace of mind will prevail and people will be. focused on services and peace, however we are nonetheless prepared. as a humanitarian community for different deteriorations, said. Harneis, including that the company had contingency plans. The Iran-aligned Houthis have controlled most of Yemen,. consisting of the capital Sanaa, considering that taking power during 2014 and. early 2015.
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Trump's export license restart boosts US LNG projects
The U.S. president Donald Trump lifted the moratorium on new export permits of liquefied gas imposed by Joe Biden, his predecessor in January 2024. Trump's executive order targeting the LNG industry was part of the series of policy initiatives to increase U.S. energy output. Biden has halted all new approvals until a study is completed on the economic and environmental effects of the export boom. The study was published in December. The U.S. LNG production was going to double, regardless of the moratorium. Biden had stopped new permit approvals before the government gave the green light for projects to increase U.S. gas capacity from 90 million tonnes per year (MPTA) to 200 MPTA. The moratorium did not affect these projects. The new permits that Trump's administration will issue are likely to increase export capacity starting in 2030, as it takes many years to build LNG facilities. In 2024, the United States will be the largest LNG exporter in the world. It is expected to ship 88.3 millions tonnes of supercooled gas. Three new plants will add 50 MPTA of capacity to the U.S. this year. The expansion of the Stage 3 plant at Corpus Christi by Cheniere Energy, which will add 10 MTPA at its peak. The two plants are currently under construction and will begin producing LNG in December of 2024. Golden Pass LNG Texas, the joint venture between ExxonMobil & QatarEnergy that has been delayed for so long, is expected to also produce its first LNG by 2025. At peak capacity it would have a production rate of 18.1 MTPA. Here are some of the projects which were affected by Trump's decision to stop issuing new permits. They could now move forward more quickly as a result. The U.S. could increase its export capacity by 100 MPTA. In Texas: Port Arthur expansion by Sempra Infrastructure (13 MTPA). -Cheniere Energy Corpus Christi 8, 9 (3 MTPA). In Louisiana -Commonwealth LNG (9,5 MTPA). -Venture Global LNG CP2 (20 MTPA project) Energy Transfer's Lake Charles LNG facility (15.5 MTPA). -Glenfarne Group’s Magnolia LNG (8,8 MTPA). -Gulfstream LNG (4,2 MTPA). -Argent LNG 25 MTPA EXPANSION There are also plants with DOE export permits that need to be approved in order to increase capacity. Kinder Morgan's Elba Island LNG Plant and Venture Global LNG's Plaquemines & Calcasieu Pass are among them. FURTHER OUT There are a number projects that are in an earlier development stage and could also benefit from resuming the permit process. These include: In Texas: - EOS FLNG - Barca LNG In Louisiana FLNG CE - Main Pass FLNG Hub Monkey Island LNG MEXICO Mexico Pacific LNG, located in Saguaro, will liquefy U.S. Gas and needs a DOE permit. New Fortress Energy’s Altamira plant, located on Mexico’s Pacific coast, was the only project that received a license for exports to countries outside of free trade agreements. (Reporting and editing by Simon Webb, Nick Zieminski and Curtis Williams from Houston)
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Cold weather limits port activity in Texas
Port Freeport said on Tuesday that it expected limited vessel activity in the Texas Gulf Coast region due to cold weather conditions. Winter storm Enzo is currently affecting the area. A rare winter storm hit the U.S. Gulf Coast Tuesday. It brought heavy snow, ice, and wind gusts in a region that is not used to flurries, while the rest of the United States was still frozen. Port Houston announced on Monday that all eight of its public facilities would be closed on Tuesday 21st January. Ship operations had been suspended, and the container terminal truck gate gates had been closed since Monday evening. On Monday, some groups of pilots who help move vessels around ports halted their operations as the offshore conditions worsened. The storm's impact on Texas oil and gas operations was limited on Tuesday. There were few interruptions to gas flow, and there were plenty of gasoline at the pump. Many roads and highways remain closed.
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US South hit by uncommon winter storm, deep freeze blankets much of nation
A rare winter storm churned throughout the U.S. Gulf Coast on Tuesday, bringing heavy snow, ice and wind gusts to a region where flurries are uncommon, while much of the United States stayed in a deep freeze. As the storm moved east, crews near Houston raked highways, while downtown streets, covered in white, were virtually deserted during the morning rush. In Houston, few individuals ventured out into the snow as some dining establishments and bars stayed closed. The Houston metro rail was running however travelers were couple of. Schools were closed Tuesday and Wednesday. I have actually remained in Texas my entire life and I have never seen this depth of snow, said Ishan Bhaidani, 29, who owns a fintech speaking with business in Houston. It usually gets more icy however this kind of great snow, this is an initially. Snow was likewise falling in New Orleans, where as much as 8 inches (20 cm) were anticipated to accumulate by the end of the day, threatening to connect a record set in 1895. The last time the city received any quantifiable snowfall was 2009, according to the National Weather Condition Service. The storm is expected to crawl through Mississippi, Georgia and Florida early this week. Up to five inches of snow were projection for Mobile, Alabama, where such build-ups have not been seen in more than 60 years, according to the NWS. A snowstorm caution was issued for the region for Tuesday through Wednesday, with a blizzard caution in result for southeast Texas and southwest Louisiana until Tuesday afternoon, the service said. Numerous flights in and out of the region's airports were delayed or canceled on Tuesday morning. Some 960 fights leaving or bound for Houston's George Bush Intercontinental Airport were canceled, according to Flightaware.com. Temperature levels were expected to dip on Tuesday into single digits Fahrenheit, well below freezing, throughout the region. Forecasters and local leaders prompted homeowners to secure themselves from frostbite and to take actions to keep their water pipelines from bursting. Throughout the South, the snow, integrated with an inch of ice accumulation and wind gusts of up to 40 miles per hour (64 kph),. might make road and flight challenging for a number of days, while. threatening to fall power lines and trees, forecasters stated. In southeastern Texas, some 45,000 homes and businesses were. without power, according to Poweroutage.us. Atlanta and Montgomery, Alabama, opened warming centers and. closed government offices in anticipation of the storm. Various. school districts canceled classes, according to regional news. Texas ports and pilots, who help in assisting vessels,. suspended some operations on Monday as frigid weather condition hit the. state. To the north, most of the eastern two-thirds of the United. States were experiencing completely cold temperatures as a cold. front was anticipated to remain through at least Tuesday. It was -5 degrees Fahrenheit
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US South targeted by rare winter season storm, deep freeze blankets much of nation
An unusual winter season storm churned across the U.S. Gulf Coast on Tuesday, bringing heavy snow, ice and wind gusts to a region where flurries are uncommon, while much of the United States remained in a deep freeze. As the storm moved east, crews near Houston raked highways, while downtown streets, covered in white, were virtually deserted throughout the early morning rush. Abigail Albrecht, a math instructor at Cypress Woods High School in Harris County near Houston, said authorities announced on Sunday that classes were canceled for Tuesday and Wednesday. In the 6 years I have actually worked at this school in Texas, they have never ever canceled school that far in advance due to weather condition, specifically snow, she said. Snow was likewise falling in New Orleans, where as much as 8 inches (20 cm) were anticipated to accumulate by the end of the day, threatening to connect a record embeded in 1895. The last time the city received any measurable snowfall was 2009, according to the National Weather Service. The storm is expected to crawl through Mississippi, Georgia and Florida early today. As much as 5 inches of snow were forecast for Mobile, Alabama, where such accumulations have not been seen in more than 60 years, according to the NWS. A snowstorm warning was released for the region for Tuesday through Wednesday, with a blizzard warning in result for southeast Texas and southwest Louisiana until Tuesday afternoon, the service stated. Temperature levels were anticipated to dip on Tuesday into single digits Fahrenheit, well listed below freezing, throughout the region. Forecasters and local leaders advised citizens to safeguard themselves from frostbite and to take steps to keep their water pipelines from bursting. Across the South, the snow, integrated with an inch of ice build-up and wind gusts of as much as 40 miles per hour (64 kph),. could make road and flight difficult for a number of days, while. threatening to topple power lines and trees, forecasters said. Atlanta and Montgomery, Alabama, opened warming centers and. closed federal government offices in anticipation of the storm. Various. school districts canceled classes, according to regional news. Texas ports and pilots, who assist in guiding vessels,. suspended some operations on Monday as freezing weather condition struck the. state. To the north, the majority of the eastern two-thirds of the United. States were experiencing completely cold temperature levels as a cold. front was anticipated to remain through a minimum of Tuesday. It was -5 degrees Fahrenheit
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Prologis beats core FFO approximates on improving warehouse need
Property financial investment trust (REIT). Prologis beat Wall Street expectations for. fourthquarter core funds from operations (FFO), assisted by. enhancing demand for its warehousing spaces and sale of an information. center. Shares of the warehouse-focused REIT were up 3.3% in early morning. trade. Potential stocking activity by importers owing to the hazard. of brand-new tariffs by the Trump administration has assisted the demand. for storage spaces throughout the U.S. Post-election leasing activity has actually been strong, and our. continuous discussions with customers support our expectation. that the marketplace is nearing an inflection point, CEO Hamid R. Moghadam said. Prologis reported a core FFO, a key REIT metric carefully. monitored by investors, of $1.50 per share for the quarter ended. December 31, beating analysts' estimates of $1.39, according to. information compiled by LSEG. The San Francisco, California-based company, however,. projection 2025 core FFO between $5.65 and $5.81, compared with. Wall Street estimates of $5.77, amidst uncertainty around future. freight demand. In December 2024, Prologis sold its Chicago-based Elk Grove. data center to HMC Capital however did not divulge any financial. details.
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Trump White Home guarantees \enormous\ infrastructure statement
U.S. President Donald Trump will make a huge. infrastructure statement on Tuesday, White Home Press. Secretary Karoline Leavitt stated, echoing a latent pledge. throughout Trump's very first term to reinforce aging America's roads,. bridges and other networks. It's going to be an enormous announcement and it's going to. show that the world knows that America is back, Leavitt stated. in an interview with Fox & & Pals. The announcement would be. at 4 p.m. (2100 GMT), Leavitt stated without offering additional. information. As a candidate in 2016, Trump guaranteed to push a $1 trillion. facilities costs through Congress. He discussed the subject. as president typically during his first term from 2017 to 2021, however. never ever delivered on it, and Infrastructure Week ended up being a. punchline. His Democratic follower, Joe Biden, signed a $1. trillion facilities bill into law in 2021 with Republican. and Democrat lawmakers to fund thousands of projects to restore roadways and bridges and fund new. environment resilience and broadband initiatives. As of Nov. 15 2024, the Biden administration had. revealed nearly $600 billion in funding and released over. 72,000 specific facilities jobs and awards. The second Trump administration and the new Congress. will have chances to put their stamp on the infrastructure. law Biden passed. Firm authorities will be able to award tens of. billions of dollars in remaining competitive grants, Brookings. Organization said in a blog site in November.
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JSW Group to invest $35 bln in India's Maharashtra state
Billionaire Sajjan Jindalled JSW Group said on Tuesday that it will invest 3 trillion rupees ($ 34.67 billion) in the Indian state of Maharashtra to expand the corporation's existence in electrical vehicles, batteries, steel, and green energy sectors. The ports-to-cement JSW corporation and the government of the western Indian state of Maharashtra - home to the country's. monetary center of Mumbai - signed an agreement on the sidelines. of the World Economic Online Forum, in Davos, Switzerland. The financial investment will fund centers for electric vehicle and. lithium-ion battery production, steel manufacturing expansion,. and renewable resource jobs, consisting of solar modules. State chief minister Devendra Fadnavis, in a post on social. media platform X, said that the investment would produce 10,000. jobs and supply a huge increase to Maharashtra's industrial. environment. The Maharashtra federal government will use financial rewards and. expedite clearances for the group's jobs as part of the. agreement, JSW stated.
United Airlines sees more powerful quarterly revenue
United Airlines on Tuesday forecast a strongerthanexpected earnings in the present quarter, after its incomes topped Wall Street quotes in the 4th quarter on robust travel demand and enhanced rates power.
The Chicago-based airline company's shares were up about 5% in after-hours trading.
United anticipates an adjusted revenue in the range of 75 cents a. share to $1.25 per share in the quarter through March. Experts. expect the company to report a quarterly revenue of 54 cents a. share, according to LSEG information.
For the full-year 2025, United anticipated an adjusted earnings. of $11.50 to $13.50 per share. That compares to $12.85 per. share expected by Wall Street experts.
Its changed revenues in the December quarter came in at. $ 3.26 a share, compared to experts' expectations of $3.00.
(source: Reuters)