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Sources say that some oil companies avoid shipping on the Iran blacklist
Four sources who have direct knowledge of the issue said that at least three Indian refineries?and one global energy giant plan to stop using ships on Iran's blacklist for transfers between ships, including ship-to-ship, because they are concerned about security. Tehran announced Sunday that it had compiled a "blacklist" of 45 vessels which, according to the Iranian government, have violated its rules when crossing the Strait of Hormuz. It also said that any vessel transferring cargo with these ships would be subjected to action. This is a further escalation of its threats regarding the vital waterway in the global energy supply chain six months after the U.S. and Israeli war against Iran. The announcement by Iran appears to be aimed at preventing the so-called shuttle oil runs that Gulf oil producers like the United Arab Emirates (UAE) and Saudi Arabia, which have dedicated tankers, are undertaking to move oil through Hormuz to?unload through STS transfer in the Gulf of Oman on ships to end users. The shuttle runs are keeping oil flowing from the Middle East, which was?cut off by Iran's ban on shipping through the Strait due to the war. According to a posting on the?social media site X by the Persian Gulf Strait Authority (a new Iranian body created to manage the strait), the named vessels may be fined, held and their cargoes could be confiscated. One of the sources who works for an Indian refinery said, "We won't allow our chartered ships to deal with STS or any other non-compliant vessels that carry Middle Eastern cargoes." Sources declined to identify themselves because of the sensitive nature of the subject. Saudi Aramco, Abu Dhabi National Oil Co and Abu Dhabi National Oil Co own or charter some of the tankers listed by Iran. According to shipping data, the ships were used to transport crude oil, refined products, and liquefied gas (LNG), out of the Gulf, for STS transfers off Fujairah, UAE, or Sohar in Oman. Saudi Aramco & ADNOC refused to comment. Ana Subasic is a trade risk expert at the shiptracking company Kpler. She said that the most compliance-sensitive customers are likely to avoid these vessels in the future. However, the trade will more than likely reroute via alternative tonnages, counterparties, or transfer locations rather than disappear entirely. INTERNAL DISCUSSIONS Multiple trade and shipping sources reported that charterers and shipping companies are debating whether or not to continue STS operations and are evaluating Iran’s warning. One of the sources, a Gulf buyer of crude oil, said it would be safer to purchase oil delivered to a destination rather than free-onboard at STS locations in the Gulf of Oman. These?sources declined to identify themselves as well, due to the sensitive nature of the issue. Formosa Petroleum Corp President KY Lin said, "Our internal departments continue to discuss how we can proceed with crude delivery from the Strait of Hormuz by ship-to-ship transfers in the long-term." Iran has attacked a number of tankers in the past, including?the Wedyan B, Mombasa A and Al Bahyah. The AIS transponders of two of the twelve very large crude carriers listed on Iran's blacklist had been switched off since weeks. Subasic, a Kpler expert, said that the key concern is contagion. If Iran takes action on its threats to penalize ships that transfer STS with blacklisted oil tankers, it will reduce the number of shipowners, buyers and charterers willing to do so, especially among companies with Gulf exposure. It may also increase due diligence requirements, as well as freight, insurance, and risk premiums.
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Adani Energy Solutions, India wins $493 million transmission project in Maharashtra
Adani Energy Solutions, an Indian conglomerate, announced on Wednesday that it had won a transmission project worth $492.62 million (47 billion rupees) in Maharashtra. This is a major boost to the company's efforts to expand its clean-energy infrastructure. The company stated that the project would deliver up to 4,500MW of renewable energy and storage power within 36 months. The company will be able to add a total of?562 circuit kilometers of transmission lines, and 9,000 mMVA of capacity for transformation. India is racing to build the transmission networks needed to reach its target of 500 GW non-fossil power capacity by 2030, and to connect the growing pumped storage capacity to the grid. In an exchange filing, the company stated that the project would transmit renewable energy generated in Karnataka, to load centres located in Maharashtra. It will also'support pumped storage eco-systems in the Satara, Pune and Mumbai Metropolitan Region. The project involves a new substation in Satara and a transmission line between Kolhapur?and Satara?as well as upgrades to the Kolhapur pooling?station.
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Father of sailor on US aircraft carrier released from immigration detention
A Nicaraguan immigrant was taken into custody by the?U.S. His family reported that Border Patrol agents released his son, who was a U.S. Navy Sailor and was deployed at sea on an aircraft carrier in the U.S. - Israel war against Iran. Three days after Joshua Aviles made public his father's arrest and the pain he felt while serving his country, his family announced on Facebook that Luis Manuel Aviles Roa was released. Joshua Aviles wrote on Facebook that his father had been detained by immigration officials despite possessing a driver's licence, Social Security card, and work permit. He said his dad was waiting for a "green" card, which would grant him legal permanent U.S. residency. The sailor wrote: "I have been on deployment for more than nine months in the Middle East, aboard the USS Abraham Lincoln. I am fighting for a nation that has given me everything." "I don’t know how to continue working 12-plus-hour days when my dad is?somewhere, possibly being treated as a criminal." According to the U.S. Department of Homeland Security, Border Patrol agents arrested a sailor’s father following a traffic stop in Key West. DHS, the parent agency of Border Patrol, stated that Luis Manuel Aviles Roa entered the U.S. in an illegal manner and would remain at Immigration and Customs Enforcement's detention facility pending removal procedures. In a statement released on Sunday, the DHS stated that "having a family member serving in the military does not give you a pass to break our nation's law." A post on the son's account of Facebook said: "Luis was released to his family." It added, "We appreciate all the support for both Luis and Josh during this situation." The father's new status was not explained. The DHS and ICE did not immediately respond to a request for comment. Separate news reports have highlighted the challenges that the crew of the Abraham Lincoln faced during its long deployment to the Middle East for the Iran War, after not having made a port call in over 200 days. Democratic lawmakers claim that the aircraft carrier set a record for the longest period of time at sea. The issue gained national attention when sailors' families expressed concerns over the worsening conditions aboard the warship. (Reporting and writing by Kanishka Sing in Washington; Additional reporting by Steve Gorman, Los Angeles; Editing done by Thomas Derpinghaus).
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Sources say RPT-Air India is seeking $1.5 billion in compensation from Tata and Singapore Air, as its losses continue to mount.
Air India wants 'about $1.5 billion of fresh equity from its owners Tata Sons & Singapore Airlines. This comes months after Air India posted a record-breaking annual loss. This would be the largest request for funding from Air India made public since Tata acquired control of the former government-owned carrier in 2020. The letter highlights the challenges that the airline faces as it undergoes a multibillion-dollar overhaul, including refurbishment of the existing fleet. In the fiscal year ending March, the carrier and Air India Express' budget unit posted combined losses of 2,33 billion dollars. This is more than twice the losses from the previous year. Singapore Airlines has also suffered from the losses. Air India is looking for the money immediately. However, the infusion will likely happen in several tranches. Singapore Airlines will need to pay its share of the infusion to make the investment happen, according to one source. The two people stated that the company is looking for funding in the form of new equity. The two people said that discussions are still ongoing and there has not been a decision made on the request. They declined to be identified as they weren't authorised to speak publicly about the matter. Air India and Tata Sons have not responded to any requests for comments. Singapore Airlines, who owns about 25% of Air India said that it worked closely with Tata Sons in order to support Air India’s transformation programme but refused to comment on its finances. AIR INDIA'S TURNAROUND EFFORT Air India was also affected by the ban on Indian carriers flying in Pakistani airspace, the disruptions caused to its international network due to the U.S./Israeli war against Iran, and the fallout from a fatal crash that occurred last year. Tata Sons Chairman N. Chandrasekaran is preparing to step down from his position in February after months of disagreements with the group's charitable trust over Air India's losses. Chandrasekaran said that Air India's turnaround may take up to 10 years. He cited the persistent disruptions in the supply chain and the need for the airline to revamp its legacy systems, culture, and fleet. Air India is delaying the delivery of hundreds of aircraft ordered from Airbus and Boeing, as Tata pressures it to reduce costs and record losses. One of the sources said that Air India would continue to require capital infusions over the next few years. (Reporting and editing by Emelia Sithole Matarise; Abhijith Kalra, Aditya Kahlra)
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Judge criticizes US Postal Service for mail-in voting rules but will not block them
The U.S. A federal judge declined on Tuesday to block the?final rule' that was issued by the U.S. Postal Service?adopted a?final rule?that President Donald Trump?directed?that would?tighten the requirements for mail-invoting, but she still concluded that the agency violated a judge's order by issuing the ruling. U.S. district judge Indira Talwani ruled in Boston a day after U.S. Supreme Court lifted her two court orders that prevented USPS implementing the executive order Trump had signed targeting mail-in votes. USPS is still unable to fulfill Trump's directive despite these rulings. Various challenges to the executive order are still being played out in federal court, so the fate of this measure remains uncertain. USPS and plaintiffs did not immediately respond to a request for comment. These legal battles are occurring less than three months from the November midterm elections in which control of Congress will be at stake. The fate of the rule could determine if new voting requirements will be required this fall for tens of millions of Americans who rely on mail-in balloting. Trump signed the executive order in march after calling for years to tighten the rules of voting by mail. He also pushed the false claim that the reason he lost the 2020 election was due to widespread voter fraud. According to the U.S. Constitution, the states have the responsibility of administering federal election. Talwani issued rulings on two separate cases that blocked implementation of Trump’s order. First, in a case brought by 23 states largely led by Democrats - the case addressed by the Supreme Court - and later in a suit by voting rights organizations including the League of Women Voters. The Supreme Court with its conservative majority of 6-3 put on hold one of these decisions, saying that a challenge from Democratic-led states was premature, as courts review final rules and not proposed rules. The injunction that the voting rights groups had obtained was still in effect even after the Supreme Court's ruling. They urged Talwani, however, to conclude USPS violated the injunction when it released the final version of the rule implementing Trump's order on Friday. This rule would require that states provide USPS lists of voters who have received mailed ballots, and unique barcodes on outbound and returned ballot mail envelopes. Talwani - a Democrat appointed by Barack Obama - agreed on Tuesday, saying that USPS "feigned" compliance with her ruling, and had ignored 'her explicit directive not to initiate or complete rulemaking to comply with Trump's executive orders. She said, however, that since USPS has acknowledged that it cannot implement the rule until?her injunction is lifted, she will not block it at this time. She said that the violation "may end up benefiting Plaintiffs," since the voting rights groups can challenge a "final rule" instead of one they might draft. California and Democratic Party arms have announced separate plans to continue challenging Trump’s executive order. (Reporting and editing by Franklin Paul, Deepa Babington, and Nate Raymond from Boston)
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US FAA relocates antenna after Marine One Safety Incident
On Tuesday, the?head of Federal Aviation Administration announced that an antenna had been relocated and procedures changed after a military helicopter carrying President Donald Trump came too close to a passenger jet departing Reagan Washington National Airport. The incident on August 4 raised serious concerns about the reason why the passenger plane was allowed to leave while Marine One was near, at a time commercial traffic would normally be halted. After an aviation event, FAA Administrator Bryan Bedford assured reporters that?the issue of communication had been resolved. The National Transportation Safety Board investigates the incident. After a crash in January 2025 between a military heli and a commercial plane that resulted in the deaths of 67 people the FAA banned mixed jet and helicopter traffic around the airport. Congress granted FAA $12.5 Billion last year for the replacement of outdated air traffic control telecom infrastructure and radar surveillance systems. This was after a number of failures, including major outages that affected Newark and Washington traffic and a failure in 2023 of an FAA System which forced a short nationwide ground stop. Bedford, who asked Congress for an additional $10 billion, stated that the FAA "is already starting to delay phase 2 and phase 3 because of a lack of funding." We will fail to modernize if we do not get funding to modernize the data architecture, and the operating platform. As part of an $875 million 12-year contract with Air Space Intelligence, the FAA will deploy a new system named SMART in order to reduce congestion. The FAA will launch SMART as a test mode on Sept. 14, and it is working with a number of commercial airlines to "start testing the 'predictive analytics, to see if we can actually achieve what we think they are capable of." The FAA has been struggling to address congestion for years due to rising demand, runway construction and a lack of air traffic controllers. In April, the agency told airlines to reduce 300 flights daily at Chicago O'Hare, citing concerns about congestion. It has now extended these cuts until October 20, 2027. (Reporting and editing by Nick Zieminski, David Shepardson)
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Bids for the Panama Canal Transit Auction exceed $1 million as demand soars
The authority of the Panama Canal?said that some vessels paid more than $1,000,000 at an 'auction' to secure transit slots. They cited a shift in global trade demand and supply. Panama Canal Authority (ACP), said that the high bids are due to temporary fluctuations in the market, and not an increase in tariffs set by the waterway. According to the authority, while median auction prices between October and January averaged around $55,000, high demand in recent months has driven median prices up by three times. The?ACP stated that "Auction prices?are determined by a number of factors, such as each client's commercial priorities and urgency, as well as the overall supply and demand conditions." The canal will limit daily transits to 34 vessels beginning Sept. 4 and then tighten the limit on Sept. 15 to 32. The Panama Canal is a gravity-fed system that relies on the freshwater of the Gatun Lake and Alajuela Lake. El Nino has reduced the seasonal rainfall required to refill?these reservoirs. This has forced?the authority? to restrict traffic. Some shippers are rerouting their ships around Africa's Cape?of Good Hope to avoid delays and high auction fees. In August, roughly half of U.S. LNG carriers headed for Asia took the Cape route. This extended a typical journey from Houston to Japan by 45 days. Reporting by Elida Moroe and Marianna Paraga, Writing by Natalia Siniawski and Editing by Inigo Alexandra
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SpaceX will build Starship rocket facility in Louisiana
SpaceX announced that it will 'build a Starship Launch Site in Southern Louisiana' as part of a deal with the state governor. The company plans to begin construction on its fourth spaceport by next year. The site will be called Starbase, Louisiana and cover 125,000 acres (50,585 hectares). It is intended to expand Starship launch operations beyond South Texas. SpaceX revealed?the plans at a?large?event that featured Governor Jeff Landry, and other senior state officials. SpaceX said that the?coastal marshland will be more than eight-times larger than Manhattan and will serve as a "selfsustaining spaceport". It will have "propellant generation, power generation capabilities, deep-water ship-building, vehicle processing facilities, an airport, and deep-water shipping capability," SpaceX explained. Landry called the deal "an inflection point" for Louisiana. This project is more than just steel, technology and capital. This project represents jobs for our families. It represents a boost for our communities and protection for our coastline. SpaceX has been launching rockets for many years from Cape Canaveral in Florida, Vandenberg Space Force Base, California, and Starbase, a company town in South Texas, where it conducts its Starship test-launches and development. (Reporting and editing by Mark Porter, Rod Nickel, and Joey Roulette)
New York Times Business News - August 26,
Here are the top stories from the business pages of the New York Times for August 26. The 'New York Times' has not'verified' these?stories, and cannot vouch for the accuracy of their content.
SpaceX, Elon Musk’s rocket and artificial-intelligence company, announced on Tuesday that they would invest $100 billion to build a launch facility in southern Louisiana. They aim to send several rockets into space each day.
Canada announced Tuesday retaliatory duties of up to 50 percent on hundreds of American products, days after the Trump administration imposed punishing tariffs following the failure of trade negotiations.
The Trump administration submitted a 'nuclear cooperation agreement' with Saudi Arabia to Congress. This could allow the Kingdom?to enrich their own fuel for nuclear reactors.
The U.S. announced "Economic D-Day", and threatened to punish any country or entity that does business with Tehran, in industries like?gold, digital asset?and aviation, among others, to choke off the few options Iran still has for global trade. (Compiled by Bengaluru Newsroom)
(source: Reuters)