Latest News
-
UKMTO: Crew safe after tanker reports external explosion near Oman coast
United Kingdom Maritime Trade Operations?said Tuesday that a vessel reported an external blast on its port side, near the waterline 60 nautical miles from the capital of Oman, Muscat. UKMTO stated that the Olympic Life and its crew are safe. However, the tanker reported that some bunker fuel was discharged into the sea. The cause of the incident is unknown. MarineTraffic?vessel tracking data shows that the Greek-owned Very Large Crude Carrier?was not carrying any cargo when it passed Muscat?at 0700 GMT. Springfield Shipping, the ship's technical director, confirmed that an unknown object struck the vessel at around 0920 GMT, but it remained operational and stable. Initial assessment revealed that one of the vessel's bunker tank was damaged. "A sheen was observed?in water?after incident," the statement said, adding that spill had been contained. According to the website of the?Onassis Foundation, the vessel is owned by Athens' Olympic Shipping & Management. It is the successor company to Olympic Management, founded?by the late shipping magnate, Aristotle?Onassis.
-
US Space Force awards SpaceX $2.29 Billion contract for military satellite data network
SpaceX has been awarded a $2.29billion contract by the U.S. 'Space Force' to build a high-speed, secure satcom network that will 'connect military sensors, weapons platforms and communications across the globe. The Space Data Network Backbone is covered by the non-traditional fixed-price contracting agreement. This resilient network architecture provides high-capacity, low-latency data transport for the military. Space Force has said that the vendor will have to deliver a fully functional prototype capability by 2027. The SDN, among other things, will be responsible for providing the communications pathways to integrate and move data from missile warning and tracking sensors to interceptors near real time. This capability is seen as a foundational part of the Golden Dome missile defence initiative by the Trump administration. Space Force Colonel Ryan Frazier said, "The SDN Backbone combines the best commercial innovation with a solid foundation for SDN missions -- a huge advantage and enabler for our warfighters." Pentagon: The SDN 'Backbone' is a proliferation of low earth orbit (pLEO), satellite constellations that will expand a mesh to deliver worldwide communication services. The SDN?Backbone will work with the Space Development Agency Transport Layer to form an unified architecture that provides critical data transport for Department of Defense missions. The Space Force has said that it plans to identify additional contractors over the summer for satellite construction and network elements. (Reporting and editing by Mark Porter and Rod Nickel in Washington.
-
Sources say that US and Thailand have accelerated LNG talks due to the war in Qatar.
Two sources confirmed on Tuesday that the U.S. and Thailand were in discussions on a 'new long-term supply' of U.S. produced liquefied?gas. Negotiations have intensified since the U.S./Israeli war against Iran caused damage to LNG production in Qatar, a key LNG exporter. Sources familiar with the talks, who requested anonymity because of the sensitive nature of the discussion, stated that the focus is on a long-term contract between Venture Global (an international energy company) and Thailand's PTT PCL (the state-controlled power company). Sources did not specify the volume or duration of any new LNG contract being discussed but typically they run for 15 years or more. After trade talks, the Trump administration?and Thailand issued a joint press release in October saying that Thai companies will purchase around $5.4 billion per year of U.S. energy including LNG, crude?and?ethane. On February 28, the U.S., Israel, and Thailand jointly attacked Iran. In response, Qatari companies struck at Qatar's LNG facilities in 'Ras Laffan, destroying 17% of its LNG export capacity, or 12,8 million metric tonnes per year. Qatar is the second largest LNG exporter in the world after the United States. QatarEnergy CEO and State Minister for Energy Affairs, QatarEnergy, has said that repairs could take up to five years. Venture Global's press representative declined comment. PTT didn't immediately respond to an inquiry for comment. Thailand, Southeast Asia’s largest LNG importer has been seeking to diversify its LNG supply as coal is steadily being replaced for electricity production. Engie, a French utility, signed a 15-year contract in January to supply LNG to power stations owned by Gulf Development PCL. In March, U.S. LNG supplier?Cheniere Energy stated that Asian customers had requested more LNG due to the war. The largest?U.S. company. The LNG exporter has stated that it is accelerating the completion of two 'units', also known as trains, at its Corpus Christi plant in Texas. Glenfarne reported that PTT signed a contract last year to purchase 2 million metric tonnes of?LNG each year from Glenfarne’s Alaska 'LNG project for a period of 20 years. Glenfarne said that no 'final investment decisions' have been made for the project. It would require an 800-mile (1.300-km) pipe to transport gas from Alaska to Asia. Malaysia is also interested in supplying LNG to Thailand. (Reporting and editing by Timothy Gardner)
-
FAA wants to fine Alaska Airlines $165,000 for allowing drunken passengers on board
The Federal Aviation Administration proposed Tuesday that Alaska Airlines be fined $165,000 for allegedly allowing 'intoxicated' passengers to board multiple flights. The FAA stated that the alleged incidents took place on 11 flights between Feb 2024 and Feb 2025. They added that FAA regulations prohibit airlines from allowing anyone who appears intoxicated to board a plane. Alaska has said that it took the matter seriously and participated in a FAA audit of its policies regarding guests who are drunk on aircraft. Alaska announced Tuesday that since the FAA shared these concerns with us more than a year earlier, we have made significant changes to ensure compliance. This includes enhanced training for flight attendants and agents of customer service. Alaska said Tuesday that it respected the FAA audit results and was confident about the changes made in the last year to ensure the standards were met. The FAA announced last month that it was proposing to fine Southwest Airlines $304,000, and American Airlines $250,000. It claimed the carriers had violated regulations regarding employee drug and alcohol testing by failing to conduct follow-up tests for their employees including pilots and flight attendants. Bill Berkrot edited the report by David Shepardson.
-
UKMTO: Crew safe after tanker reports external explosion near Oman coast
'United Kingdom Maritime Trade Operations' said 'on Tuesday' that a tanker'reported an external explosion' on its port side near the waterline 60 nautical miles from Muscat, the capital of Oman. UKMTO said the vessel, identified by the name 'Olympic Life', and its crew are safe. However, the tanker reported that some bunker fuel was discharged into the sea. The cause of the incident is unknown, according to UKMTO. MarineTraffic data shows that the Greek Very Large Crude Carrier, owned by the Greek government, was sailing through Muscat around 0700 GMT and heading out of the Gulf of Oman. It was not carrying any cargo. According to the website of the Onassis Foundation, Olympic 'Shipping and Management, based in Athens, is the successor to Olympic Management, founded by late shipping magnate Aristotle Onassis. The company did not respond to a request for comment. Reporting by 'Ahmed Elimam,?Jana Choukeir and Nerijus Adomiaitis; Additional reporting in Oslo by Alida Williams and Bernadettebaum
-
Sources say that Italy's RAI wants to extend the contract with EI Towers before RaiWay.
Three sources said that RAI wants EI Towers?to extend contracts with broadcasters using its infrastructure, before it merges into the state broadcaster RaiWay. This is to ensure long-term stability of business. Sources who declined to give their names because the talks are not public said that the issue was a sticking-point in the negotiations between RaiWay, and the shareholders of EI Towers, ahead of the June 15 deadline for a?deal?. The merger of RaiWay, a Milan-listed company, and EI Towers, a privately owned company has been on the radar for almost a decade. EI Towers is 60% owned by Italian infrastructure fund F2i, with the remainder held ?by Italy's top commercial broadcaster Mediaset, part of the Berlusconi-controlled MFE-MediaForEurope which ?is also the tower company's ?biggest customer. The combined company would be worth approximately EUR4 billion including debt. The people stated that RAI wants EI Towers, which includes Mediaset, in order to extend its contracts to 2037. Contracts are set to expire by 2032 when the concessions to use broadcasting frequencies will cease. They added that if the issue is to be addressed, the discussions may need to continue beyond the current deadline. F2i MFE RAI refused to comment. RaiWay and EI Towers?were unable to comment. The negotiations, which were based on a memorandum signed by Treasury owned RAI, MFE and F2i in December 2024, had already been prolonged after failing to meet earlier deadlines at the end of March and September. Rome passed a decree in 2024 that any reduction in RAI's share must be achieved by combining entities within the same sector. The agreement confirmed that RAI, who owns 65% in RaiWay would be required to keep at least 30% of its tower business listed. Reporting by Elvira pollina; additional reporting by Giuseppe Fonte; editing by Alexander Smith
-
Uber and Lyft drivers from Massachusetts form the first US ride-sharing union
The first union in the U.S. that represents gig workers, such as Uber drivers and Lyft drivers, was formed by Massachusetts state officials and labor leaders. The Massachusetts Department of Labor Relations certified the newly formed App Drivers union on Friday as representing nearly 70,000 independent contractor ride-share drivers in the state. Massachusetts Governor Maura healey, a Democrat said, "It's a game changer for ride-share employees across the country" at a rally on Tuesday with drivers and labor organizers in Boston. The certification came after the voters of November 2024 approved an innovative ballot measure to allow drivers at companies such as Uber and Lyft, to collectively bargain over pay and benefits. This vote came after a?nationwide, years-long battle about whether ride-share driver should be classified as independent contractors or employees with rights to benefits and wages protections. The National Labor Relations Act does not apply to drivers for Uber or Lyft. This federal law only covers traditional employees. Under state law, however, drivers could only form a union if they collected signatures of at least 25 percent of Massachusetts' active drivers. This condition was met by union supporters. The union has the support of 32BJ SEIU - an affiliate of Service Employees International Union - and the International Association of Machinists and Aerospace Workers. At the rally on Tuesday, IAM President Brian Bryant said: "The workers that built these billion dollar corporations deserve a contract with a union and a place at the table." As unionization efforts increase in other states, he and other union leaders hailed Massachusetts as an important labor victory. California ride-share drivers now have the right to unionize, thanks to a law signed by Democratic Governor Gavin Newsom in October. Similar legislation ?is pending in Illinois. Uber and Lyft did not oppose the Massachusetts ballot measure. Lyft stated on Tuesday that it would engage in good faith with the Massachusetts process as it moves forward. Lyft released a statement saying that it does well when its drivers do well. We'll continue to focus on helping drivers succeed and keeping rideshare affordable for all who depend on it. Uber didn't respond to our request for comment. Uber did not respond to a request for comment.
-
Bousso: The board of ROI-BP snatches victory from the jaws.
BP's second leadership scandal in less than 3 years is the sudden removal of BP Chairman Albert Manifold, who was accused of?misconduct? less than 8 months after he assumed office. BP's board has become a liability because of these repeated leadership failures. Sources close to the 'board' claim that his departure was due to 'aggressive conduct towards BP employees, which became a public issue following a whistleblower report. Manifold was hired by the company to oversee its strategic transformation and restore investor confidence after a disastrous venture into renewables in 2020 under the former CEO Bernard Looney, and Manifold’s predecessor Helge Lund. Looney was terminated in 2023 when it was discovered that he was having affairs with his colleagues. Lund departed after shareholder support plummeted. Former head of construction company expected to bring hard-nosed business approach - and did so. Manifold made his presence known immediately. The first was a change in leadership. Meg O'Neill was appointed as the new CEO of BP in December, two month after Manifold had joined the company. She is an outsider, and the first woman ever to be the head of a major oil firm. In February, a few weeks before O’Neill's appointment, BP suspended their share-buyback program, giving them the breathing space they needed to reduce?their debt. Investors viewed the two moves as proof that BP - and Manifold - had clear intentions. BP's profits increased by more than two-fold in the first quarter of this year, largely due to the surge in oil prices since the beginning of the Iran War. BP today is in a much better position from an operational perspective than it was a couple of years ago. Manifold's sudden departure will not change BP's strategy or its executive leadership. The board of directors will be the focus now. DIFFICULT QUESTIONS Manifold, who has only been at the company for a little over a year now, is still causing controversy. Questions about the culture of the board were raised by Looney's abrupt departure and the strategic mistakes made by the firm. In recent months he restructured and trimmed the board, and brought in experienced oil-and-gas executives to address these concerns. Manifold stated in March that the changes would allow for "faster decision-making and a sharper oversight" which are both critical to driving long term shareholder value. Today, the words are hollow. The board announced Manifold’s appointment in July. It said that it followed a “rigorous and extensive?global search." Amanda Blanc, a senior independent director on the board at the time, said that Albert's relentless focus is on performance. This will be well-suited to the needs of bp now and in the future. Blanc said in BP’s Tuesday statement that Manifold helped to bring "a welcomed focus" to BP’s transformation. However, the board was "surprised" and "disappointed" when it learned of Manifold’s "governance and conduct issues" which they deemed unacceptable. They have taken decisive actions. BP's shareholders and staff are right to question any assurances regarding the selection process for the future chair and other senior appointments, given the recent track record of the board. BP wants to transform its culture and strategy. Unreliable directors could make this 'already difficult challenge near impossible. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
NTSB asks FAA to revise safety assessments of runways during heavy rain
The U.S. National Transportation Safety Board called on the Federal Aviation Administration on Tuesday to revise its assessment of runway conditions during heavy rain, citing safety risks that airplanes could skid off the runway.
These recommendations are the result of NTSB investigations into 11 runway overrun incidents and accidents that occurred from 2008 to 2022 after landing on wet runways. The NTSB asked the FAA for a reform of the so-called?Runway Condition Assessment Matrix? that uses a 6-point scale to assess the condition of paved runways.
The board cited a 2019 runway overrun by a Boeing 737 at Jacksonville, Florida due, in part, to "an extreme lack of braking friction caused by heavy rain and water depth on the nongrooved 'runway which resulted viscous hydrplaning."
In the incident of 2019, a Boeing chartered by the U.S. Military was returning from Naval Station Guantanamo Bay, Cuba, with 142 passengers on board, when it slid off the 9,000-ft (2743-m-long) runway of Naval Air Station Jacksonville. No serious injuries were reported.
The?NTSB recommended that the FAA also issue new rainfall intensity descriptions for aviation weather reports in order to identify rainfall intensities above the?current threshold of heavy rain of 0.3 inch (7.62mm) per hour.
The FAA stated that it takes the recommendations of the NTSB seriously and will consider them carefully. The FAA encourages all airports to "report" wet runway conditions.
NTSB stated that the calculations of wheel braking friction for wet runways could be significantly less than those provided by FAA assessments due to limitations with the factors considered.
The NTSB stated that landing distances on wet airport runways calculated by the FAA model can "underpredict actual landing distances, increasing the risk of runway overrun." (Reporting and editing by Jamie Freed; David Shepardson)
(source: Reuters)