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Panama Canal transit increased by 2.8% in January despite tensions
According to a report by the Panama Canal Authority, which was seen on Friday, there has been a 2.8% rise in vessel 'transits' in the first four months of the fiscal year. According to the report, most of the traffic increase was registered by tankers transporting energy products such as liquefied gas (LNG), dry bulk carriers and car carriers. This growth represents?114 more transits than the same period a previous year, to?a maximum of 4,156 vessels during the four-month span. The report states that the demand remained?solid?despite increased global trade volatility and new tariffs. The report said that "Tanker (transits)," a measure of the volume of goods transported, increased 11.2%. This was due to an increase in shipments from United States, due to a higher demand from South Korea, Mexico and Guatemala for fuels and Methanol, as a result from trade agreements and tariff reductions. Analysts predict that more vessels will be passing through Panama carrying U.S. LNG to reach?destinations? in Asia if the Strait of Hormuz?problems persist amid the U.S. - Iran conflict. This is already forcing vessel reroutes. The Panama Canal is "operating in a reliable and stable manner" despite geopolitical uncertainty, increasing steadily the number of transits daily and maintaining predictable service levels for our clients," it said. After the U.S. - Iran conflict, the authority didn't provide specific statistics but stated that it was monitoring maritime trade.
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Gol, a Brazilian airline, will launch new long-haul routes out of Rio using the A330.
Gol's Chief executive announced that the Brazilian airline will be using Rio de Janeiro's Galeao International Airport as its hub to receive the new Airbus A330 900 aircraft joining the fleet. Gol operated Boeing 737s exclusively until now. Celso Ferer, Gol's CEO, said that the new aircraft will be followed by a new route direct between Rio and New York beginning in July. He made this statement at an event in Galeao with Brazil's president Luiz inacio Lula. The firm released a statement later that said, "The merger between two 'key tourism and business centers in South and North America opens up a range of options and possibilities for customers throughout the continent." The airline will initially receive five A330-900s. These are wide-body aircraft that can fly routes up to 15 hours long. The company will gradually integrate the planes into its fleet between 2026-2027. Sources had told us earlier that Gol was going to announce 'Galeao Airport' as the hub of its new Airbus A330900. Ferrer stated that Gol will also offer direct flights from Rio to Paris, Lisbon and other European cities starting late this year. Sources said that Gol had sought slots in major European cities, such as Porto and London. However, not all of these will be destinations. (Reporting by Gabriel Araujo and Luciana Magalhaes in Sao Paulo, Rodrigo Viga Gaier in Rio de Janeiro; Editing by Deepa Babington)
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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.
FOCUS - GE Aerospace uses robots and a 'Lean" approach to solve jet engine repair crunch
Suresh Sinaiyan, a GE Aerospace technician, has spent over a decade repairing compressor blades on jet engines by guiding them with precision across a sanding band.
At the new automation lab of?the aerospace company in Singapore, he teaches a robot how to do the exact same thing.
The switch is part GE's effort to prepare 'the next wave of Industrial Development' and ease a 'aviation's most significant bottleneck: overloaded repair workshops and scarce parts.
The industry's newest jet engines are prone to unexpected wear and tear, which has caused many airlines to idle older jets for longer and stretched maintenance lines.
This pressure has now become a public battle. The airlines have complained about engine makers raising prices to take advantage of shortages, while the manufacturers claim they are investing money in expanding support because they incurred huge development costs.
Tony Fernandes is the co-founder and CEO of Malaysian low cost airline AirAsia. He said it bluntly: "They must remember that airlines are their future, so treat us as partners."
SINGAPORE as the Pressure Valve
GE claims that Singapore is a critical part of its solution.
The company is upgrading its 2,000-employee service center with digital tools, AI and more automation as part of a $300 million investment plan.
The company wants to increase repair volume by?33% in Singapore without expanding the footprint of the site -- by reorganising, reshaping and automating tasks when it's efficient.
The factory is leading the way in GE's "Flight Deck" recipe for continuous improvement, eliminating waste and reducing costs. This was pioneered by Japanese automakers and promoted by CEO Larry Culp.
It's not about sprinting to the end of a quarter in order to produce a Wall Street Guide. Culp said in an interview that it is about making every minute and day count.
GE, along with rivals like Pratt & Whitney, has been trying to find a balance between supplying new-airplane assembly line engines and parts and keeping the fleet flying.
By repairing more worn parts, you can reduce the pressure on your engine by reducing the need for replacements with new components.
GE claims that repairs can halve 'the time required for key processes and also halve costs to airlines.
Faster turns, tighter floor space
Iain Rodger of GE Aerospace Component Repair Singapore told me during a tour that "repair can improve turnaround times... the shorter the time the engine has to be off the wing the better."
A reorganized repair area is overhauling CFM56 turbo nozzles that have been scorched by extreme heat in one of the most popular engines on earth.
Workers claim that turnaround times have improved since 2021 when they were 40 days. GE targets 21 days by the year 2028.
The area will lose about a third its floor space in order to meet the next challenge, which is to develop repair capabilities for newer LEAP engine models that are starting to enter overhaul cycles.
If the airline does not approve repairs, it may be forced to replace worn out parts with newer, more expensive, and limited-supply replacements.
Han Hui Min, Nozzles' Business Leader, said of the new layout: "Now we can identify issues and see where they are."
TEACHING ROBOTS the HUMAN TOUCH
Repairs that require a technician to touch them are among the most difficult?to automate.
Take these compressor blades out of a CFM56 motor.
The spinning blades squeezing the air as it rushes in the engine core create pressure. After years of use, the blade?tips will deform. This must be repaired by a process known as blending.
It's really difficult to do. Sinnaiyan said that (until now) the process was 100% manual. The blades must be filed down to a few thousandths, using eye, feel and coordination.
GE is betting that if they can capture this skill and turn it into a robotic process that can be repeated, then it will reduce the need for specialized labour at a lower cost.
Analysts have noted that engine manufacturers make some of their largest profits by servicing used parts, and licensing certain repairs to shops in exchange for lucrative royalties.
The process of each repair is the "secret sauce" for an increasingly important part of the business.
Scaling repairs have limits. The work must adhere to approved procedures and strict standards of quality.
Nick Cunningham, an analyst at Agency Partners, said that the slowdown in plane production - which increased demand for older jets and subsequently for repairs – is nearing its end.
If GE's Singapore changes are successful, they can help the industry overcome its bottlenecks. They could also ease fares.
Airlines executives and others have warned that the supply crunch is not likely to disappear quickly.
Culp explained that the goal was to move away from heroics and firefighting, in favor of a more preferred type of performance. Reporting by Tim Hepher and Rajesh K Singh in Singapore; Editing and production by Joe Brock, Matthew Lewis
(source: Reuters)