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UN to vote on watered down Hormuz Resolution on Tuesday
Diplomats say that the U.N. Security Council will vote on a resolution on Tuesday to protect commercial shipping along the?Strait?of Hormuz. However, it is likely to be in a significantly watered down form, as China, which has a veto, opposed authorizing any force. Since the U.S. and Israel attacked Iran at the end February, oil prices have soared. The conflict has lasted for over five weeks, and Tehran has largely closed the Strait of Hormuz, an important energy artery. Bahrain, as the current Chair of the 15 member Council, has been working on multiple drafts to try to overcome the opposition from China and Russia. The latest version, as seen by, does not explicitly authorize the use of force. The text instead "strongly encourages States that are interested in using commercial maritime routes across the Strait of Hormuz, to coordinate defensive efforts commensurate with the circumstances to ensure the safety and security of the navigation through the Strait of Hormuz." The text says that such contributions can include "the escorting of merchant and commercial ships" and also supports efforts to "?deter attempts?to close, obstruct, or?otherwise interfere?with international navigation through Strait of Hormuz? Diplomats believed the watered down version would have a greater chance of success, but it was unclear whether it would be successful. It needs at least nine votes and no vetoes by the five permanent members: Britain, China France Russia and the U.S. Bahrain has received support from other Gulf Arab countries and Washington in its efforts to protect commercial shipping. A draft was released last Thursday which would have authorized "all defensive measures necessary" for this purpose. However, votes were delayed on Friday and on Saturday. Bahrain dropped the explicit mention of binding enforcement. China's opposition to a resolution authorizing force was expressed last Thursday. It said that it would "legitimize the unlawful and indiscriminate?use of force which would inevitably lead to further escalation?of the situation, and have serious consequences." Iran stated on Monday that it wants a lasting solution to the conflict and refused to allow the Strait to be reopened. Meanwhile, Donald Trump, the U.S. president, warned Iran it could "be taken out" if they did not meet the deadline of Tuesday night to reach an agreement. After speaking with his Russian counterpart on Sunday, Chinese Foreign Minister Wang Yi stated that China was willing to work with Russia at the Security Council to help calm the Middle East. Wang stated that the best way to resolve this issue is to have a ceasefire in the Strait as soon as possible. China is the largest buyer of oil that moves through the Strait.
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Fuel exports are soaring despite Trump's waiver on shipping.
According to analysts and 'trade 'data, the move by President Donald Trump to allow foreign-flagged ships to transport fuel and other goods from?domestic to international ports has had little effect on American oil supplies. Trump lifted the Jones Act restrictions for 60 days beginning March 17 in an effort to reduce the fuel price spike caused by the Iran War by increasing the shipments of oil from the U.S. Gulf Coast. Shipping data, however, shows that the move has not yet boosted U.S. crude oil flows between ports within the country. U.S. fuel imports reached a record-high last month as refiners sent more?fuel to Asia and Europe and reversed the traditional flow to export from U.S. East Coast. The Jones Act limits the movement of goods between U.S. port to only U.S. flagged vessels. The high prices of fuel in California, Hawaii and other states?U.S. were partly blamed on the low availability of these vessels. Markets that do not have pipeline connections with U.S. Gulf Coast refining facilities. Kpler data shows that the number of barrels shipped between U.S. port cities in March was virtually the same as February at 1.37 million. Kpler data revealed that liquids exports to other U.S. coast markets from the U.S. Gulf Coast fell to 770,000 barrels per day in March from 826,000 in February. The Middle East conflict has had the most impact on the Asian and European oil market, because Iran's blockade of Strait of Hormuz cut refiners off from their usual crude and fuel suppliers. As a result of this, U.S. refining companies are able to make more money by sending fuel overseas than they do within the U.S. European gasoil, which is used to price diesel across the region, was trading at over $200 per barrel on Monday. The U.S. ultra low sulfur diesel futures - the benchmark for U.S. pricing - were only under $185. Tom Kloza is the chief energy advisor at Gulf Oil. He said, "There are incredible arbitrage opportunities that involve various continents. I'm not certain when there might be a couple of vessels that can, for example, bring Gulf Coast products to the Northeast." Ship owners also earn more money by sending vessels to Asia from the U.S. Asian refiners are bidding for vessels in the Atlantic Basin to replace Middle East crude they have lost. The U.S. Gulf Coast has been impacted by this, with freight rates soaring. Kloza stated that "we are not seeing real results or response (to the Jones Act waiver), because all freight -- regardless of whether it was via U.S. or foreign flagged ships -- skyrocketed by the end March." Reporting by Shariq KHan in New York, and Anushree MUKHERJEE in Bengaluru. Editing by David Gregorio.
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Amazon and USPS strike a deal that allows them to maintain 80% of the package volume
Amazon.com announced a new deal with the U.S. Postal Service on Monday. Postal Service for package deliveries. Sources said that the cash-strapped postal service would retain about 80% of their 'existing deliveries' from its largest customer. This 20% reduction is much better for the postal service than the 2/3 or even larger cut that Amazon threatened last month. USPS warned that it may run out of money as early as October. Sources said that Amazon would continue to expand its delivery service, but not at a rate which would rival USPS's ability to deliver by address. First reported the deal. USPS has an annual budget of $80 billion, and Amazon represents $6?billion, according to people who are familiar with the arrangement. Amazon released a statement saying, "We are pleased to have reached an agreement with USPS which will allow us to continue supporting our communities and customers together." USPS declined to comment immediately. David Steiner, the U.S. Postmaster-General, told reporters in December that USPS delivers about 1.7 billion packages to Amazon annually. Amazon had criticised USPS's plans to auction access to its last mile delivery network. Amazon announced in April 2025 that it would spend more than $4 billion by the end of 2026 to expand its rural delivery network across the United States. USPS announced last month it would be seeking approval for a temporary price increase of 8% for priority mail and package deliveries. The new prices will take effect on April 26. This is to address rising transportation costs. Steiner stated in March that increasing the cost of a first class stamp from the current 78 cents to 95 cents would assist USPS with cutting losses. USPS reported net losses of $118 billion between 2007 and 2015 as the volume of first-class mail fell to its lowest level since the 1960s. Reporting by David Shepardson, Jacob Bogage and Chris Sanders; Editing and Cynthia Osterage)
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Mint reports that Air India CEO Campbell Wilson has resigned.
The Indian newspaper Mint reported that Air India CEO Campbell Wilson resigned. This comes as the airline struggles with persistent losses, and increased regulatory scrutiny after a crash in which 260 people were killed last year. The airline is dealing with persistent losses and delivery delays, as well as the'report' of a leadership change. The regulators have also reprimanded Air Canada for safety lapses. These include flying an aircraft without an airworthiness certification eight times and operating planes without checking the emergency equipment. The report cited two sources familiar with the situation to say that Wilson was currently serving his notice period. The newspaper added that it could not confirm if Tata Group - its majority owner - has found Wilson's?successor. The Hindustan Times reported that four people familiar with the situation said that Wilson's resignation had been accepted by the board at its meeting last week. Could not verify immediately the reports. Air India did not immediately respond to an outside of regular business hours request for comment. Air India's Board was reported to be looking for a replacement CEO in January. Wilson, an ex-Singapore Airlines veteran, had been brought on board to lead the airline's turnaround by 2022, after years of decline. Air India admitted in December that "urgent improvements were needed in the process discipline, communication and compliance culture," according to a report. report. Since the airline was bought by Tata 2022, it has been losing money. The financial pressure is 'worsening' since Pakistan banned Indian carriers last year. Air India's lucrative west routes will be further impacted by a prolonged Iran conflict. These routes were already re-routed due to Pakistani restrictions. N. Chandrasekaran is the chairman of Air India, who is also the head of Tata Group. Singapore Airlines owns a 25% stake of Air India. (Reporting and editing by Sonia Cheema; Chris Reese, David Gaffen and Sonia Cheema)
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Trump wants to reduce 9,400 TSA employees and $1.5 billion in budget
Budget documents show that the White House is proposing to reduce airport security operations by more than 9,400 employees and $1.5 billion. Details were included in a budget document for Department of Homeland Security (which oversees TSA) that was part of the White House's proposed budget for the next fiscal. Congress will hold hearings later this month on the White House's budget request as lawmakers strive to reach a budget agreement?before fiscal year ends September 30. Republicans have called for the privatization of?TSA. Budget details had nothing to do with the funding impasse that Congress has been experiencing over DHS in the current year. This has led to airport delays due TSA employees not receiving their paychecks. Donald Trump proposed on Friday that'smaller airports use private security instead of TSA, as a first step towards privatizing the 'agency established after the 9/11 attacks. This change, according to the White House, would reduce TSA's payroll by over 4,500 jobs. TSA plans to eliminate 4,800 more jobs through improved efficiency, eliminating staffing in exit lanes and eliminating redundant work. Employee reductions would save over $500 million in agency costs. TSA lost over 1,600 employees during the government funding disruptions that occurred last fall and spring. TSA employs about 50,000 security screening agents at U.S. airports. Trump has criticised the TSA. David Pekoske was fired on Trump's first day in office, 2025, and he has not nominated anyone to replace him. The White House demanded funding cuts for the TSA of $247 million last year. They claimed that the TSA had "consistently failed audits" and implemented intrusive screening methods which violated Americans' privacy. The Biden administration increased the size and scope of the TSA. The TSA screened a record 904 million passengers by 2024. This was a 5% rise over 2023. (Reporting and editing by Cynthia Osterman; David Shepardson)
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Source: Iran stops two Qatar LNG tankers that it had previously approved to transit Strait of Hormuz.
Sources told Monday that Iran's "Revolutionary Guards" stopped two Qatari liquefied gas tankers heading for the Strait of Hormuz and ordered them to remain in place without any explanation. The source, who spoke under condition of anonymity and had been briefed about the agreement, confirmed that Iran had allowed the vessels to pass through the strait as part of an agreement with the United States reached last week by Pakistani mediation. The source stated that "this was part of an agreement negotiated as part of the talks led by Pakistan last week." Ship-tracking data revealed that both ships were located off the coasts of the United Arab Emirates Monday evening, and had not passed through Hormuz. If the vessels had successfully crossed the strait they would have been first LNG cargoes to transit the waterway after the?starting of the U.S. and Israeli war with Iran, on February 28, The conflict that began with U.S.-Israeli strikes on Iran has caused thousands of deaths and damaged economies through the rise in oil prices. The fighting and retaliatory strikes have effectively shut down tanker traffic through the Strait of Hormuz. This route carries around a fifth of all global oil and LNG. Donald Trump, the U.S. president, said on March 26, that Iran agreed to allow 10 oil tankers to transit through the Strait of Hormuz in an apparent gesture of goodwill during negotiations. Trump said: "They said to show that we are real and solid, and we are there, we will let you have eight oil boats, eight boats, and eight big oil boats," Trump said. "I think they were right and they were real. I believe they were Pakistani flagged." The final count was 10 boats. Kpler, LSEG and other analytics firms have provided data that shows the two Qatari vessels Al Daayen & Rasheeda loaded their cargoes at the end of February. The LNG was loaded from Ras Laffan in Qatar. Ship-tracking data showed that they had originally been heading east towards the strait, but turned back on Monday morning. On Monday afternoon, the two vessels switched their course signals. The Al Daayen changed its course to Ras Laffan after previously indicating Pakistan as the destination. Meanwhile, the Rasheeda signaled "for orders", a generic placeholder, from Port Qasim in Pakistan. The data indicated that the Al Daayen was signaling for China earlier on Monday. Kpler data indicated that?both tanks were controlled by QatarEnergy. QatarEnergy didn't immediately respond to an inquiry about Iran's Revolutionary Guards stopping the ships. Mitsui O.S.K., Mitsui's joint owner, said that a Japanese LNG-tanker, Sohar LNG, had previously managed to pass through the strait. Lines announced on Friday. A company spokesperson refused to reveal when the tanker was filled or if there were any negotiations. Qatar is the world's?second-largest LNG exporter, with most shipments going to Asian buyers. The Iranian attacks have knocked down 17% of Qatar’s LNG export capability. Repairs are expected to take three to five more years to restore the fuel.
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Budget request from FAA includes a proposal to hire 2,300 air traffic control officers
Federal Aviation Administration announced Monday that it is proposing to hire 2,300 trainee air traffic controllers to address the 'persistent shortage of personnel. FAA is?about 3500 air traffic controllers behind its targeted staffing levels. It employed 13,164 air traffic controllers at the end of September, or 6% less than a decade ago. Many controllers work six-day weekends and mandatory overtime. The?FAA air traffic control academy is also having serious retention issues. The FAA wants to spend $95.4 million on bringing 2,300 new controller trainees aboard, compared to 2,038 by 2025. The FAA also wants $39 million for increased aviation safety oversight as well as to strengthen commercial space transport oversight, compliance, and enforcement. Congress approved $12.5 billion last year to upgrade the U.S.?air?traffic?control system, and to increase hiring. Sean Duffy, Transportation Secretary, said last week that he wanted another $7 to $10 billion in new software and tech upgrades. The USDOT Office of Inspector General announced in February that it was investigating high failure rates among trainees of air traffic control. In December, the FAA reported that it lost between 400 and 500 trainees due to the shutdown of government last year. Congress approved funding earlier this year to hire 2,500 more?controllers by 2026. The FAA offers retirement-eligible control rs who are below the mandatory?retirement?age of 56 an annual lump sum payment equal to 20% of their base pay. The FAA increased starting salaries by 30% for candidates attending the FAA Training Academy and has shortened the time to hire process from more than four months. The FAA has begun moving its headquarters to the main USDOT Building and the Trump Administration wants $60 million for the relocation of thousands of employees. (Reporting and editing by David Shepardson)
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Bridger's Canada to Wyoming crude line is estimated at $2 billion and can produce up to 1 million barrels per day
According to the latest details released by Bridger Pipeline, the proposed 'project' to transport Canadian crude oil from the U.S. Canada border to Wyoming would cost about $2 billion. It could transport up to 1 million barrels per day. In January, the company presented plans to the Montana Department of Environmental Quality to build a pipeline that would transport 550,000 barrels of Canadian crude per day from the Phillips County area near the U.S. Canada border to eastern Montana and then to Wyoming before terminating in Guernsey. The?filings' submitted late in March indicate that the proposed 36" pipeline would stretch nearly 650 miles (1050km) and have the capacity to deliver as much as 1.13 million barrels a day to Guernsey Wyoming. Bridger anticipates that the pipeline will initially run at around 550,000 barrels per day. The developers claim that the project will largely follow existing corridors in order to?minimize land disturbance'. It would cost about $1.96 billion, for the 435.2 mile stretch of pipeline within Montana. Plainview Energy Analytics stated that batching of light crude oil to maximum capacity would push volumes well beyond the typical 800,000 bpd limit for heavy oil on a line of this size. Plainview reported that although the application mentions specifically moving Canadian oil, the detailed maps show possible tie-ins for the Bakken shale field at key points, providing access to the majority of Bridger’s North Dakota gathering networks. Matthew Lewis, founder of Plainview, said: "This optionity positions the Bakken project for future expansion beyond the 550,000 bpd limit and creates the potential for a new competitive exit option for Bakken shippers." Bridger 'Pipeline' is viewed as a possible U.S. Partner for Canadian company South Bow. South Bow is currently working to revive parts of the Keystone XL -oil pipeline that was cancelled. Analysts say that if the project is approved by U.S. president Donald Trump, and if additional?links are built to U.S. refinery hubs, Canada's crude oil exports to the U.S. could increase by more than 12 percent. These additional?links will be needed to transport oil?to major refinery hubs like Cushing, Oklahoma; Patoka in Illinois; and U.S. Gulf Coast. Analysts point out that Guernsey does not qualify as an end-market for crude oil. This means additional infrastructure is needed to connect the project with downstream demand centers. Reporting by Siddharth Cavale in New York Editing Keith Weir
Air NZ increases fares and cuts flights due to fuel cost more than doubling on Iran war
Air New Zealand said on Tuesday that it would slash its flights in May and June, as well as raise fares. The Iran War has disrupted global air travel as jet fuel prices have increased.
The airline announced that the flight 'consolidations', its second in less than a month, would impact around 4%?flights, and 1% of all passengers traveling between?May?and June?.
Air NZ's spokesperson stated that jet fuel prices are "more than twice what they normally would be."
The company stated that affected customers will be notified starting at 2100 GMT on Monday. All notifications should be completed by the end of this week.
Air 'NZ said in March, just two weeks after the war, that they would reduce?5% of their flights until early May.
The closure of'major aviation hubs' in the Middle East has also had a negative impact on the sector. (Reporting and editing by Shreya Biwas in Bengaluru)
(source: Reuters)