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Musk and Ryanair CEO clash about cost of Starlink Wi-Fi
Elon Musk called Ryanair CEO Michael O'Leary on Friday an "utter idiot", who should be fired. The spat began when?the airline chief refused to install Musk's Starlink?internet on Ryanair planes. O'Leary dismissed on Wednesday the idea of equipping Ryanair's 600+ jets with Musk's Starlink. Citing the fuel cost impact from the drag caused by the antenna, O'Leary estimated that the service could cost the airlines as much as $250 million per year. Musk replied on his social media platform X by claiming that O'Leary had been "misinformed", and arguing Ryanair didn't know how to measure?fuel consumption of Starlink equipment. During a later interview with Irish?radio Station Newstalk, he said that Musk knew "zero", about drag and aviation, and called the U.S. millionaire "idiot." He also described X as a 'cesspit'. Musk, whose SpaceX company operates Starlink on Friday, responded. "Ryanair's CEO is a complete idiot." Fire him." Musk?posted a message on X. Musk responded, "Good idea." When a fan suggested Musk buy Ryanair to replace O'Leary with himself. Starlink is a network that uses thousands of satellites in low-Earth-orbit to deliver faster and more reliable WiFi onboard aircraft. Starlink is being rolled out by more than a dozen airlines, including United Airlines and Qatar Airways. Analysts believe that Starlink is a premium offering, which will appeal to full-service and long-haul airlines. Financial terms are not disclosed. (Reporting and editing by Alistair Bell; Reporting by Joe Brock)
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Black Sea CPC crude oil offers dropped amid drone strikes
LONDON/MOSCOW - According to trade sources the offer prices for Caspian Blend crude oil have dropped dramatically this week. This is because drone strikes in the Black Sea continue to impact exports of the grade, and also weather-related delays. ExxonMobil is a shareholder in the Caspian Pipeline Consortium and offered a cargo of 120,000 metric tons CPC Blend at $1.35 per barrel less than benchmark Brent on Thursday in Platts Window, an oil index publisher S&P Global Commodity Insights service. The offer was withdrawn because no buyers came forward. The U.S. major oil company had discounted the same cargo by 40 cents a day earlier, which was described as a good deal compared to the current market prices. Kazakhstan has urged Europe and the U.S. to help secure oil exports. This is after unidentified drones struck two oil tankers in the Black Sea on Tuesday, one of which was chartered Chevron. CPC Blend is used by many European refiners. Another trade source stated that the company had not ordered the suspension of purchases. CPC is responsible for around 1.5% global oil supplies and 80% of Kazakhstan’s?oil imports. CPC's regular clients include European and Asian firms as well as a few Asian refiners. CPC Blend 'loadings' are now taking place at one of three single-point moorings (SPM-1), as SPM-2 has been taken offline due to a drone strike by Ukraine in November. Maintenance works on SPM-3, however, have been delayed because of weather since December. CPC doesn't usually comment on terminal operations and has previously declined to comment on recent drone strikes. Reporting by journalists in London and Moscow. (Editing by Alex Lawler, Mark Potter and Mark Potter).
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The rate of uranium freight to India has increased in January due to bad weather and higher risks
Industry sources said that the freight rates for tankers shipping Urals crude to India from Russia's western port have risen in this month. This is because bad weather has made fewer vessels and disrupted loading and unloading, and increased costs of insurance. Two oil tankers were struck by drones in the Black Sea Tuesday, including a tanker chartered by the U.S. oil giant Chevron. After drone attacks this week on two Greek-operated oil tankers, Greece has instructed its shipping fleet to take the most stringent security measures when sailing into Russian Black Sea ports. The average freight?costs for transporting Urals to India from the Baltic port of Primorsk or Ust-Luga for loading in February are $9 million, compared to $8?million for one-way trips last November and December. Suezmax tankers that can carry 140,000 tons of cargo have increased their rates for similar shipments to India from the Black Sea port in Novorossiisk, Russia. The previous two months, they were charging around $7 million. At the end of last year, traders predicted that Russian crude exports in January would drop due to increased domestic refinery runs and possible weather-related disruption. Reduced vessel demand should limit any increase in freight rates. According to trading sources, and calculations, the number of barrels shipped per day by the ports of Primorsk Ust-Luga Novorossiisk via Urals, Siberian Light, and KEBCO crude grades is expected to drop from 2.4 million to 2.2 million, compared to the December plan. Sources say that as Greek shipowners decrease their presence in the area, Urals shipments to Russian ports are increasingly handled via tankers from the Shadow Fleet. Barbara Lewis (Reporting; Editing)
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Treasury: New US sanctions targeted Houthi financing networks
Trump's administration announced new sanctions against the Iran-backed Houthis of Yemen, and also the transfer of weapons, oil products and other?so called dual-use equipment which it claimed helped to fund the group. The sanctions target 21 individuals, entities, and one vessel. This includes some alleged front companies in Yemen, Oman, and the United Arab Emirates. The Office of Foreign Assets control of the Department of Treasury?said this in a press release. "The Houthis are a threat to the United States because they commit 'acts of terrorism' and attack commercial vessels that transit the Red Sea,"? U.S. Treasury Secretary Scott Bessent made the statement. Treasury Secretary Scott Bessent said in the statement. The Houthis launched a number of?assaults in the Red Sea in 2023. They deemed that Israel was responsible for the attacks. Israel's attacks against its proxies in Yemen, such as the Houthis, have weakened Tehran's regional sway. Reporting by Susan Heavey, Daphen Psaledakis and Chizu Nomiyama.
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Panama ports to see TEU container traffic increase by 3.6% in 2025
PANAMA CITY - The Panama Maritime Authority announced on Friday that the port's traffic will increase by 3.6% to 9.9'million TEU containers in 2025 compared to last year. Central American ports are fed into the Panama Canal. The canal is a vital passageway connecting the Pacific Ocean and the Atlantic Ocean, and it's a major route for global trade. * The SSA Marine Manzanillo 'International Terminal', located on Panama’s Atlantic Coast, handled 2.9 millions TEUs in 2024, a 5% increase. * The Panama Ports Company (PPC) Balboa Terminal saw 2.7 MILLION TEU containers, up 2%. Its Cristobal terminal saw an 9% increase in traffic, moving 1.2 MILLION TEUs. * The Colon Container Terminal handled 1.7 million TEUs last year, an increase of 10% compared to a?2024. * Panama International Terminal handled 1.4 million TEUs in 2024, a 2% decrease. According to the Maritime Authorities, this was the only port that saw a 'dip' in traffic. Max Florez said that the Panamanian hub was a strategic point for redistribution in the region. (Reporting and editing by Natalia Siniawski, Elida Moreno)
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German auto industry: Still many questions to be answered before returning to Suez Canal
VDA, the German business association, said that there are still a number of questions to be answered, primarily in relation to insurance, before transports via the Suez Canal can resume. VDA stated in an email that "the absolute safety of crews is everyone's top priority -- this is a pre-requisite for any decision on resuming wider use of the route." The company said that a?first survey of the route was conducted under special security measures with a select group of?shipping firms. VDA stated that "in principle, the resumption of voyages through Suez Canal would lead to shorter transport time and lower costs compared to current alternative routes." Maersk announced 'this week that a service will resume using the Red Sea & Suez Canal this month. This is a major step towards ending the two-year global trade disruption caused by attacks on ships from Yemeni Houthi Rebels. (Reporting and writing by Chris Steitz; editing by Linda Pasquini).
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Air India and Singapore Airlines have agreed on a 'cooperation frame' to strengthen their relationship
Air India and Singapore Airlines have agreed on a framework of cooperation that could allow them to expand their routes, reduce the overlap, and enhance collaboration more generally, they announced on Friday. The two airlines have described the agreement as "commercial cooperation framework". It follows a Pakistani airspace ban announced in April, which forced Air India from India to discontinue certain routes?towards the U.S. The airlines stated that the agreement may include 'expanding corporate travel programmes for both carriers, a source of high-yield revenues for the airlines. The airlines said that the agreement is subject to regulatory approvals as well as the signing of definitive contracts. Sources familiar with the strategy of Air India said that the agreement was an advanced codeshare. They added that it would allow the airlines reduce the number of flights on the same route. Air India has already signed a codesharing agreement with Singapore Airlines in 20 countries. Singapore Airlines owns 25% of the company. Tata Group holds the remaining 75%. Air India CEO Campbell Wilson stated in a press release that the agreement will bring the airline's relationship to Singapore Airlines "to the next level". Reporting by Abhijith Gaapavaram and Aditya KALA. Editing by Jane Merriman & Barbara lewis
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Diana Shipping is ready to nominate six directors for Genco's proxy battle, according to sources
Two?people with knowledge of the situation said that global?shipping firm Diana Shipping will launch a proxy battle to replace Genco Shipping & Trading’s six current board members, just days after its board rejected Diana’s takeover bid. Diana Shipping, who owns almost 15% of Genco, and has proposed to buy all outstanding shares at $20.60 each in cash, will nominate executives with experience in shipping and maritime in the next few days, according to one source. Genco, based in New York City, did not immediately respond to a request for comment. Diana wants Genco shareholders to have the opportunity to elect board members who are open to exploring alternative options, such as Diana's offer to purchase Genco. This was stated by one of the sources who wasn't authorized to publicly speak about the plan. Genco rejected earlier this week?Diana?s indicative offer which was made on the 24th of November and represented a 15% premium over Genco?s closing price for November 21. Genco's shares closed at $19.88 Thursday. It has increased by 36% over the past?12 month. Diana was disappointed that Genco took six weeks before responding to the?offer. She still believes that shareholders would benefit from a combination of both companies' platforms and is pushing for consolidation within the dry bulk carrier sector. (Reporting and editing by Diane Craft; Svea Herbst Bayliss)
WestJet will no longer offer non-reclinable seats in its economy class after complaints
WestJet Airlines announced on Friday that it would eliminate non-reclinable seats in economy class on a number of Boeing 737 aircraft. This decision was made after a slew complaints and 'videos posted on social media of passengers with their knees pressed against the seat ahead.
After reviewing data from operations and the feedback of travelers, the Canadian carrier announced in a press release that it would return to its previous standard economy seat configuration.
WestJet's decision to reconfigure seats in its planes last year?to allow for larger premium seating at the front?was widely seen as a test on the limits of the add-on culture. Economy seats that can be adjusted are still available, but they cost extra.
The videos of passengers with cramped leg problems were posted on social media in January, even though WestJet, owned by Onex Corp. and WestJet, had paused their rollout last month. The pitch (the space between rows of seats) was reduced from 30 inches to 28 inches in order to accommodate an additional row of seating.
WestJet CEO Alexis von Hoensbroech said in a statement that the airline tried to offer seat pitches which are used by many airlines worldwide. They do this because they provide low-cost airfares. "At the?same time, it's just as important to respond quickly if the seat pitches don't meet our guests needs."
Pilots and flight attendants also reacted negatively to the move, voicing concerns about comfort and safety. They also questioned whether passengers could safely escape from a plane in an emergency.
Alia Hussain is the president of the union local that represents WestJet cabin staff. She said she was pleased with WestJet’s decision to "reverse course" on Friday. Flight attendants received numerous complaints from angry travelers and had to move some tall passengers' seats in some cases.
She said, "It created an hostile working environment for cabin staff." (Allison Lampert, Montreal; Editing and design by Chris Reese).
(source: Reuters)