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Pentagon and FAA will conduct tests on high-energy laser anti-drone system in New Mexico
The Pentagon announced on Friday that it would 'conduct tests with the Federal Aviation Administration in New Mexico this weekend of high-energy lasers used to combat threatening drones. The Pentagon stated that "this upcoming event will address FAA safety concerns, while gathering data on the material effects of lasers on aircraft surrogates. It will also validate the functionality and safety shutoff systems for automated safety, as well as inform analyses to ensure the safety of aircrews' eyes." On February 25, the U.S. Military erroneously shot down a government-owned drone using a laser-based system. The 'FAA expanded the area around Fort Hancock in Texas where flights were banned after the 'FAA announced on February 18 that it would halt all flights at the airport near El Paso for 10 days, only to reverse its decision and lift the order after eight hours. Bradbury, the U.S. deputy transportation secretary, said in an interview on Friday that the FAA must test the system to "get comfortable" with its limitations, and how it could be adjusted or controlled. Bradbury stated that the FAA was determined to create a framework so they are confident in the safety of the airspace with the system being used and won't need to sign-off on individual uses. Bradbury stated that they were working fast to complete the safety assessment. Bradbury said that both parties had a critical job to complete. After a classified briefing, lawmakers said that the incidents demonstrated a need for'significantly improved coordination. Ted Cruz, Chair of the Senate Commerce Committee, said: "It was clear that there were challenges when it came to operationalizing counter-drone technologies." (Reporting and editing by David Shepardson)
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US agency to insure maritime losses up to $20 billion in Gulf
U.S. International Development Finance Corporation announced on Friday that the U.S. would provide reinsurance for losses of up to $20 billion in the Gulf region. This will help oil and gas shipping companies maintain confidence during the war against Iran. The President Donald Trump ordered on Tuesday the DFC to provide financial guarantees and political risk insurance for maritime trade within the Gulf. This was after the transit of?oil tankers and liquefied gas tanks had come to a standstill in the Strait of Hormuz, which is located off Iran. DFC stated that the coverage would be rolled out and initially focused on cargo, hull and machinery insurance. DFC did not provide any details, but said that it would work with preferred American insurance companies. The U.S. Treasury Department, DFC and U.S. Central Command are working together to determine the next steps in the plan. The Strait has been largely blocked by oil shipments. Some tankers have been damaged?by strikes, while others are stranded. War-risk insurance premiums have increased and some providers have reduced or removed coverage. (Reporting and editing by Louise Heavens, Chizu Nomiyama and Chizu Nomiyama.
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Bloomberg News reports that Boeing is close to a 500-jet order with the Trump-Xi Summit.
Bloomberg 'News, citing sources familiar with the situation, reported that Boeing is close to announcing a 500 aircraft order for 737 Max Jets. This will be announced when U.S. president Donald Trump makes his first state visit to China in 2017. According to the report, both sides are in negotiations for a widebody deal that would include 'about 100 Boeing 787 Dreamliner and 777X jets. Boeing did not respond immediately to a comment request. In afternoon trading, shares of the company rose 3.7%. Trump will visit China between March 31 and April 2. Xi is expected to visit Washington in later this year. The move comes after Trump threatened to restrict the export of Boeing parts to China in response to Chinese restrictions on rare earth minerals. Beijing ordered Chinese airlines in April to stop temporarily?taking delivery of new Boeing 'jets during their clashes over trade with Trump. Following Trump's visits, the planemaker has also landed several major sales from foreign airlines.
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The Swedish Coast Guard boards a suspected stateless vessel in the Baltic Sea
The Swedish Coast Guard said that it had boarded a vessel suspected of being stateless in Swedish waters on Friday and was conducting 'investigations'. The Coast Guard said that it had boarded a vessel at 3:50 pm today with an unclear flag, and was therefore suspected to be a stateless boat. The Caffa ship was flying a Guinean flag but, based on international and national legislation, the coast guard deemed the vessel a stateless vessel. The Swedish police said the ship had been suspected of sailing under a false banner. Caffa, a general cargo vessel measuring 96 meters long, is tracked by the ship tracking service Marine Traffic. Carl-Oskar BOHLIN, Sweden's civil defence minister, stated in a blog post on X, that the ship 'was a cargo on Ukraine's sanction list' "The ownership structure of the vessel is unclear, and there is suspicion that it is not insured." Bohlin wrote that the ship was reported to have switched from a Russian flag to a Guinean one as recently as this summer. The Coast Guard said that it had launched a preliminary investigation regarding alleged violations of maritime law in relation to lack of seaworthiness. The Coast Guard will have personnel on board to collect information about the vessel's condition and the crew, conduct searches and interviews, it said. (Reporting and editing by Cynthia Osterman; Greta Rose Fondahn)
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US Customs Agency says system for refunding tariffs will be available in 45 days
A customs official stated in a Friday court filing that the U.S. Customs Agency is preparing a system to refund tariffs imposed by President Donald Trump, which were ruled illegal. Brandon Lord, a Customs and Border Protection officer, made the declaration as government lawyers and a federal trade court met to try and hammer out an agreement for the return of $166 billion worth of tariff payments to 330,000 importers. Last month, the Supreme Court ruled that President Donald Trump's tariffs were unconstitutional. The Supreme Court, however, did not specify how tariffs collected should be refunded. This left'small importers' worried that the process would be costly and time-consuming. Lord stated in his declaration that the new process would require importers to submit minimal information. This was just as the government lawyers were meeting with Judge Richard Eaton of the court. Eaton convened the meeting to discuss the process by which the government would implement its sweeping order, issued on Wednesday. The order directed the CBP that it refund tariffs to hundreds of thousands of potential importers through the existing internal CBP processes. Eaton stated in his order on Wednesday that he was?appointed by a trade court to hear approximately 2,000 lawsuits brought by importers, including FedEx and L'Oreal, seeking refunds. Trade lawyers claimed that these lawsuits were only the tip of a very large iceberg. They said thousands more would be prepared to sue in the future if the government did not develop an automatic refund system. On Friday, affiliates of Nintendo and CVS were the latest big companies to file for refunds. IMPORTERS GET A SINGLE PAYMENT Lord stated in a court filing that CBP expected importers file a declaration on the computer system ACE of the CBP detailing tariff payments. This declaration would be validated and then refunds with interest processed. Importers wouldn't have to sue. The Treasury Department would pay each importer a single amount, no matter how many separate entries they had made. Lord didn't estimate the time it would take for the refunds to be processed, but he said that the CBP wouldn't be able comply with Eaton’s order as of Wednesday. Eaton envisioned refunds being 'automatically returned to the importers using the existing system, without documentation or input by the importer. Lord explained that the existing system was not suitable for the task. It would require too much manual work, which would prevent the personnel from completing the mission of the agency. He said importers paid an estimated $166 Billion in tariffs for more than 53 Million shipments. Eaton's orders would have forced?the agency manually to review all paperwork for every shipment. Lord estimated that this would take more than 4,000,000 hours of labor. Lord's declaration indicated, however, that only a few importers were signed up to the CBP's electronic refund system. Lord said that out of the more than 330,000 importers, who paid illegal duties, only 21423, signed up for the electronic refunds system which was implemented on February 6. Eaton oversees a lawsuit filed by Atmus Filtration Inc., which is being used as a tool by the judge to order CBP refunds to all importers. (Reporting from Tom Hals, Wilmington, Delaware. Additional reporting by Luc Cohen and David Lawder in Washington. Editing by Deepa Babyington.)
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South Bow: US-Canada policy shift could boost Keystone XL prospects
The company that is behind a plan for a revival of the Keystone XL?pipeline?system in order to increase Canadian oil exports into?the United States hopes a 'North -American policy shift towards energy development' will shield its project from political and regulatory obstacles which led to its cancellation by 2021. Bevin Wirzba, CEO of Canadian pipeline operator South Bow, said that the world has changed significantly since U.S. president Joe Biden canceled Keystone XL's permit after years of Indigenous and environment opposition. Wirzba stated that the policy environment in North America has been much more positive. He said that the war in Iran and the conflict in Ukraine underscore the need for energy safety. Wirzba stated on a conference call that "these realities are an excellent backdrop for us to possibly provide a solution." South Bow, the company that was created by former Keystone XL promoter TC Energy to take over their oil pipeline business in 2024, is looking at reviving a portion of the existing line in Alberta. It already has all Canadian?permits. South Bow would not build the U.S. portion of the pipeline, which is similar to Keystone XL. Instead, it would partner with U.S. companies. It is not known how and where the pipeline segments will be connected. However, the ultimate goal of the project is to transport 55,000 barrels per day of Canadian oil from the Canadian coast to the U.S. Gulf Coast. REVIVAL COMES TO THE US AND CANADA MOVES TO SPEED PERMIT Donald Trump, the U.S. president, has been trying to accelerate energy project approval times in order to boost domestic oil production. The proposed pipeline would need a presidential permit to cross the Canada-U.S. Border. Mark Carney, the Prime Minister of Canada, is relying on the energy industry to boost the country's economy. He has pledged to accelerate the permitting process and to drop some climate legislation, which the oil industry claimed was impeding their growth. Wirzba stated that Carney's actions have a materially shifted the needle towards considering a pipeline project. He said South Bow has launched an open season to gauge commercial interest in new space for pipelines, and, more broadly, the confidence of the Canadian oil industry in its ability grow production in the upcoming years. Wirzba refused to reveal the cost of its proposed project, which South Bow calls the "Prairie Connector pipeline", or when construction would begin. He said that many Canadian oil sands firms have stated they intend to increase production materially in the next three to five year.
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As planes grounded by the Middle East conflict, South Asia is awash with fast fashion clothing
According to three manufacturers, shipments of clothing for Zara and Inditex, the owners of Inditex, and other major retailers, are stuck at airports in Bangladesh and India as the Middle East conflict forces airlines like Emirates and Qatar Airways, to cancel flights. South Asia is the clothing manufacturing capital of the world. Fast fashion brands from around to world depend on Bangladesh, India, and Pakistan factories for their constant supply of T-shirts and dresses. "Some of my clothing consignments are stuck at Dhaka Airport," Shovon Islam, the managing director of Sparrow Group's manufacturer, said. Inditex, M&S Next, and Primark, among its European clients, are part of Sparrow Group. "They were supposed to be flown via Dubai to the UK, but now that operations at Dubai Airport have been suspended, we're in a very tough position." We're trying alternative routes but none are easy or cost-effective, Islam said. Since the conflict began on Saturday, most airspace in the Middle East has been closed. Airlines including Qatar Airways and Emirates have cancelled many flights. Frederic Horst is the managing director of Trade and Transport Group, Sydney. He said that more than half of Bangladeshi air cargo and 41% from India travel via the Gulf. Emirates and Qatar Airways are the two most important airlines. Inditex's 2023 annual report states that it has 150 suppliers in Bangladesh and 122 in India. The company's latest annual report does NOT list specific country numbers. The company didn't respond to questions regarding the disruption. Freight costs double as capacity shrinks Prices have risen sharply as air capacity has been reduced. Alexander Nathani, managing director at Mumbai's Kira Leder which makes leather jackets for Inditex as well as for Austrian retailers Cigno Nero Fussl and Wiedner said that freight costs to fly his product from Mumbai to Austria had doubled due to the cancellations. Nathani stated that "the whole freight capacity on the airlines is now being blocked, so prices are increasing." "One shipment?in Pakistan is still stuck in the factory and the other consignment is coming from Mumbai on Monday for Swiss Air - we hope that they are also flying, and that everything goes." Primark, H&M, and M&S all responded that the majority of their shipments are made by sea when asked about the disruption. Next did not respond to the questions. The suspension of cargo flights because of airspace closures is already disrupting air shipments, said Mohammad Hatem. President of the Bangladesh Knitwear Manufacturers and Exporters Association. "We are all worried. We can foresee another major crisis." Reporting by Ruma in Dhaka and Alessandro in Gdansk. Editing by Louise Heavens.
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Azeri BTC exports to increase in April
The schedule showed that the differentials between dated Brent and Urals crude jumped in 'the Indian market due to supply shortages brought on by 'the conflict in Iran. Meanwhile, exports of Azeri BTC from Ceyhan were expected to increase next month. Reports on Thursday indicated that traders are selling Russian Urals at a premium to Brent of $4-5 per barrel upon arrival in Indian ports between March and April. This is after the United States granted Indian refiners an 'waiver' to resume purchasing Russian oil. Calculations on Friday showed that the grade's discount on Brent at the Russian Baltic Sea port of Primorsk has narrowed from $5 to $20 per barrel. Two traders claim that the rising costs of freight will reduce profits for Russian oil sellers. It would cost $15 million to charter a vessel with a deadweight of?100,000.0 metric tons to transport oil from Russian Baltic port to India. Traders claim that freight rates have already risen above this figure and could rise even higher next week. The schedule for Azeri BTC crude exports to Turkey's Ceyhan Port has been increased from 14.95 million barrels exported in March, to 16.38 million barrels in April. PLATTS WINDOW * Traders reported that no bids or offers for Urals, Azeri BTC, and CPC Blend were made Friday. Shipping data revealed that Saudi Arabia, the world's largest oil exporter, is increasing its shipments through the Red Sea. However, the increased volumes are not enough to compensate for the decline in shipments through the Strait of Hormuz. MOL, the oil and gas company of Hungary, announced on Friday that it will begin capacity testing on the Adria oil pipeline in Croatia on March 11, and continue for 10 months. The company is looking for alternative routes as Russian crude oil supplies are set to cease at 2027. Reporting by Kirsten Doovan; Editing by Kirsten D.
Wizz Air UK receives green light to operate charter flights between the UK and US
Wizz Air announced that it had received permits on Friday to fly to the United States from the United Kingdom. This will allow the budget airline to offer charter flights. However, it does not currently have plans to provide regular commercial services.
The airline will offer 'charter flights' for European soccer teams and fans who are attending the?World Cup as well as tour operators organizing?group trips in the U.S.
Airlines on both sides of the Atlantic remain optimistic about the visitor numbers this year. The World Cup matches will be played in 10 U.S. States, including Missouri and Massachusetts.
Wizz shares fell over 3% on Friday at 1203 GMT, amid a wider selloff of airline stocks, as carriers struggled to absorb the 'escalating U.S. and Israeli air wars against Iran.
The airline said that the conflict in the Middle East would reduce its net profit for fiscal 2026 by approximately 50 million euros (57.83 millions).
The UK branch of the company had applied to the U.S. Department of Transportation (DOT)?issued a permit for foreign air carriers in January.
(source: Reuters)