Latest News
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Shanghai Port wins Chinese Super League title after beating Dalian
Shanghai Port won the Chinese Super League on Saturday. A 1-0 victory over Dalian Yingbo meant that Kevin Muscat’s team finished the season with two points more than their cross-city rivals Shanghai Shenhua. Gabrielzinho, who latched on to Leonardo's pass in the fourth-minute in Dalian, scored the lone goal for Port. He slipped the ball past the home goalkeeper Huang Zihao with ease. Shanghai Port now has 66 points after 30 matches. This is two more than Shenhua of Leonid Shlutsky, who beat Tianjin Tiger 3-1. Port has won the title three times in a row, and twice in two seasons. This is after Australian Muscat took over from Javier Pereira. Shanghai Port and Shanghai Shenhua will both play next season in the Asian Champions League Elite, while Chengdu Rongcheng, who finished third last year, will compete in the Asian Champions League Two. (Reporting and editing by Ken Ferry)
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Officials say that crew evacuated from container ship after fire at Los Angeles port
The Los Angeles Fire Department reported that all crew members were evacuated from container ship One Henry Hudson on Friday after an explosion and fire disrupted its power and crane operation at San Pedro Port. The port has identified hazardous materials in several bays. Firefighters are using protective gear, including self-contained respirators. LAFD reported that marine units are continuing to cool the exterior of the ship, and no personnel is allowed below deck. ABC's affiliate broadcasts footage of firefighting boats spraying water over the containers that are on fire and the sides of the ship. Port officials announced that four of the seven container terminals in the port have been suspended and a safety zone around the vessel has been created. LAFD has announced that it has issued an order to shelter in place for San Pedro, Wilmington and other nearby areas due to the hazardous materials incident caused by the container ship fire. Los Angeles Mayor Karen Bass has said that residents of the affected areas should stay at home, with their windows shut and AC systems off. According to LSEG, the One Henry Hudson sailed under a Panaman flag and arrived at Los Angeles from Tokyo's Shinagawa Port on Wednesday. In an X-post, the office of California Governor Gavin Newsom said it was coordinating with local officials to support first responders. Mayor Bass stated that more than 100 firefighters were working to suppress the blaze and air quality was being monitored. Port of Los Angeles released a press release stating that the vessel was berthed in the Yusen Container Terminal. Fire suppression efforts continue. Reporting by Rajveer Pardesi in Bengaluru and Rishabh Jaisewal; editing by William Mallard, Tom Hogue
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BP crew excavates Olympic Pipeline but has yet to determine cause of leak
BP announced on Friday that its Olympic Pipeline crew had excavated over 100 feet (0.03km) of pipeline in response to a leak which occurred earlier this month near Everett (Washington), but they have yet to identify the source of leak. Washington Governor Bob Ferguson declared an emergency on Wednesday following the Olympic Pipeline shut down, which has caused jet fuel supply to Seattle-Tacoma International Airport to be disrupted. Crews have excavated safely over 100 feet but have yet to identify the source of the leak. In an email, a spokesperson for the company said that excavation and inspection would continue over night. The pipeline is still closed at this time. The London-based company that produces oil and gas did not give a timetable for restarting this pipeline. The Olympic Pipeline System is a 400-mile fuel pipeline that runs from Washington's northern border to Oregon. The pipeline transports refined petroleum product including gasoline, jet fuel and diesel to Seattle-Tacoma International Airport. First reported on 11 November, the fuel leak was discovered. BP reopened on Monday the one of two pipelines that were shut down to investigate the source of a product discharge east of Everett. Shortly after the restored line, it was shut down once again. This halted all refined product deliveries in the system. (Reporting and editing by Himani Sarkar in Bengaluru, Rishabh Jaisewal from Bengaluru)
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Australia's Northern Territory prepares for Tropical Cyclone Fina
Darwin, Australia, shut down its airport on Saturday as a precaution due to a tropical storm that is forecast to cause destructive winds and floods in the north of the country. The Bureau of Meteorology in Australia said that Fina, a category 3 cyclone located in the Van Diemen Gulf, with wind gusts of up to 185 km/h (115mph), would pass north of Darwin, capital of the Northern Territory later on Saturday, as a "severe Tropical Cyclone". On its website, the weather bureau warned that the cyclone would hit remote Tiwi islands and Cape Hotham before it reached Darwin. Residents of Darwin were urged to start or continue their preparations immediately, including securing boats, property and other valuables. Darwin International Airport issued an alert on Fina, its Facebook page, saying that all flights today, 22 Nov, are cancelled. The airport added that the conditions were expected worsen. The warning issued for Darwin, a city with a population of about 140,000 people, brings back painful memories of the Cyclone Tracy that wiped out 66 lives on Christmas Day, 1974. It was one of Australia’s worst natural disasters. Dean Narramore, senior meteorologist at the Weather Bureau, said that although it was unlikely to landfall in Darwin on Saturday morning, it would be felt there. Narramore, a meteorologist with the Australian Broadcasting Corporation, said that the forecast was for "widespread and heavy rains" as well as "damaging to locally destructive wind." "Staying above water means the intensity is likely to remain," he continued. According to the Weather Bureau, Category 3 tropical cyclones are two levels below the most dangerous rating. They typically cause damage to structures, trees, and crops, and power outages. The ex-tropical storm Alfred, which hit Queensland in March, closed schools and left hundreds of thousands without power. (Reporting and editing by Diane Craft, Himani Sarkar and Sam McKeith from Sydney)
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Canada Post and union reach agreement in principle to end lockouts and strikes
After more than two years, Canada Post and the union that represents thousands of mail carriers have reached an agreement in principle. This has halted all lockouts and strike actions. On September 25, more than 55,000 workers from the Canadian Postal Service walked out of their jobs after the government demanded that the company undergo a major transformation in order to improve its finances and modernize its operations. Postal service struggles as letter volume drops and private sector competition increases for parcel shipping. Canada Post, the nation's main postal service, said via email that tentative collective agreements have not yet been finalized by Canada Post and the Canadian Union of Postal Workers. The union stated that "Both parties have agreed on major points of the agreements, but we must agree on the contract language that will be used to form the collective agreement that members would vote on," CUPW said it would retain its right to strike until new agreements were ratified. (Reporting and editing by Chris Reese in Bengaluru, Mrinmay dey from Bengaluru)
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US warns airlines about potential dangers when flying over Venezuela
The U.S. Federal Aviation Administration on Friday warned major airlines of a "potentially dangerous situation" while flying over Venezuela, and encouraged them to exercise caution. The FAA's notice noted the "worsening situation in security and increased military activity around Venezuela", and warned that threats at any altitude could be dangerous to aircraft. In recent months there has been an enormous American military buildup, including the largest aircraft carrier of the U.S. Navy, as well as at least eight warships and F-35 planes. The Trump administration has bombed boats that were allegedly transporting drugs and had left the shores of Venezuela or other Latin American countries. Since 2019, direct flights from the United States to Venezuela for passengers or cargo have been suspended. However, some U.S. carriers fly over Venezuela on some South American flights. American Airlines announced on Friday that they had stopped flying over Venezuela since October. Delta Air Lines, United Airlines and other airlines did not respond immediately to comments. The order did not prohibit flights over the country. Since September, the FAA has reported an increase in Global Navigation Satellite System (GNSS) interference in Venezuela. This can cause lingering effects on a flight and is also associated with "activity related to increasing Venezuela's military readiness". The FAA stated that Venezuela had conducted multiple military drills and mobilized thousands of reserve and military forces. It added that Venezuela never expressed any intention to target civil aviation. The agency stated that the Venezuelan military had advanced fighter aircraft, multiple weapons systems capable or exceeding civil aircraft operational altitudes and there was a potential low-altitude threat from anti-aircraft and air defense artillery. The FAA will continue to monitor risk for U.S. Civil Aviation operating in the area.
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US lawmakers urge enforcement of Biden wheelchair airline travel rules
On Friday, a group of U.S. House members called on the Trump Administration to enforce key provisions in a rule that was issued by former president Joe Biden's government and which requires new consumer protections when disabled passengers use wheelchairs. The letter was signed by 14 Democrats from the House Transportation and Infrastructure Committee, including Greg Stanton and Rick Larsen. Airlines for America, a trade association of United Airlines, Delta Air Lines and Southwest Airlines, as well as JetBlue Airways, filed a lawsuit in February against the rule that sets stricter standards for accommodating wheelchair-bound passengers. In September, the U.S. Transportation Department announced that it would not enforce certain provisions until a review was completed. This included one requiring airlines to be liable for wheelchairs mishandled. A second requirement was for airlines to reimburse wheelchair users the difference in fare between the flight they took and the one that would have been charged if the wheelchair had fit into the cargo or cabin of another aircraft. USDOT and the airline did not immediately respond to our request for comment. When they check wheelchairs or scooters, carriers must also notify passengers in writing about their rights and reimburse them for any damage caused to the wheelchairs. USDOT reported that 5.5 million Americans used a wheelchair last year. For every 100 wheelchairs and scooters transported by domestic flights, at least one of them is damaged, lost, or delayed. In October 2024 the USDOT fined American Airlines $50 million, a record amount, for its treatment towards disabled passengers. This included failing to provide adequate assistance to some and mishandling of wheelchairs. USDOT retracted a Biden proposal last week to require airlines pay cash compensation to passengers when carriers cause flight disruptions in the United States.
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India's weak demand for Urals oil leads to a widening of discounts on the oil
Sources say that the differentials between Russian Urals crude and other grades are under pressure due to the weakening value of the grade in India's ports. Three sources in the oil trade reported that discounts for Russian Urals crude have tripled in Indian ports since August compared to Brent dated as U.S. sanction drive key buyers from Moscow-supplied fuel. According to traders, the December Urals cargoes are currently trading at a discount of $5-$6 per barrel compared to Brent. This is about three times greater than the $1-2 seen in August. PLATTS WINDOW There were no bids or offers reported on the Platts Window for Urals CPC Blend, or Azeri BTC on Wednesday. Five sources have confirmed that U.S. sanctions will dismantle what is left of Litasco. Litasco was once Russia's largest oil trader, and a competitor to Swiss oil giants and top Swiss houses. (Reporting from ;)
Portugal claims that only three of Europe's largest airlines expressed interest in TAP privatisation
Parpublica, the state-owned holding company of Portugal, announced on Saturday that it had only received three expressions interest for a minority stake of TAP's flag carrier. All were from Europe's biggest airlines, and none came from outside of the EU. This was far below what government expectations had been. British Airways' owner IAG and Air France-KLM, as well as Germany's Lufthansa, had announced they had submitted formal expressions of interests. Portugal restarted its long-delayed TAP privatisation in July. It aims to sell a 44.9% share to an airline that can boost the company's international scale and competitiveness. A further 5% will be offered to TAP staff.
In July, Prime Minister Luis Montenegro stated that the government expects major airlines from outside of the European Union to be interested in TAP's planned privatisation. He cited the carrier's potential.
The deadline for airlines formally expressing interest in the project closed at 1700 GMT on Saturday.
Parpublica announced in a press release that it had until 12 December to evaluate whether interested airlines met the criteria. These include at least one year's revenue of more than 5 billion euro in the past three years, and financial capability.
Offers that are not binding must be submitted by the middle of March, followed by offers that include a price and a TAP strategic plan. Privatisation is expected in the second half 2026.
TAP's main assets are its connections with Brazil, Portuguese-speaking African nations and the United States, all from Lisbon, the hub that the government is keen to maintain and expand.
Bernstein analysts estimated TAP's stake of 44.9% at 700 million euros, based on an airline valuation totaling 1.5 billion euros. This represents a premium of roughly 25-30% over European peers. They justified this by citing TAP's potential strategic advantage.
(source: Reuters)