Transport Infrastructure

Rio Grande LNG 'has requested a three-year Extension from the U.S. Federal Regulatory Commission 'to?construct a export facility in Texas. In a Friday filing with the energy regulator, the company said that it needed time to complete certain projects and to make the Port of Brownsville liquefied?gas export facility operational by 2031. Rio Grande LNG, a?facility under construction owned by NextDecade with a capacity to?export 48?million tonne per year of super-chilled natural gas. Rio Grande has announced that construction on all five LNG trains is moving forward at the Rio Grande Terminal. Workers have been mobilized and are completing building...

New York has sued the Trump administration over its decision to withhold more than $73.5m in highway funding because of the'state's refusal to revoke some commercial driver licenses. New York Attorney General Letitia James, and Governor Kathy Hochul announced on Friday that the legal challenge seeks to reverse last week's decision by the U.S. Transportation Department to cancel funding after the state refused to comply with the federal government's demand to revoke some driver's licenses. New York claims that the loss of funding places New Yorkers in danger, while USDOT reported in December that an audit had found New York...

Norfolk Southern announced on Friday that fuel costs will continue to impact earnings in the upcoming quarters. Fuel prices have increased sharply since the U.S. and Israeli war against Iran. This has put pressure on margins in energy-intensive industries such as transportation and logistics. On a call after earnings, chief financial officer Jason Zampi said: "Fuel will obviously be a wild card for the rest of the year. We anticipate that it will be an?headwind" in the second quarter. The average U.S. gasoline price rose to $4 per gallon for the first month in over three years in March, marking...

Norfolk Southern's first-quarter profits fell?on Friday as rising fuel and operating costs combined with higher operating expenses weighed down on the railroad operator's earnings. Fuel prices have increased'sharply' in the wake of U.S. and Israeli war against Iran, putting pressure on margins for energy-intensive industries such as transportation and logistics. The average U.S. gasoline price rose to $4 per gallon for the first time in over three years in March, the largest monthly increase in decades. Mark George, the Chief Executive of the company, said that the company had navigated the quarter. However, he noted the impact from the "dramatic...

Shipping data from Friday showed that only five ships have passed through the Strait of Hormuz, including an Iranian oil tanker. This is after Iran seized two container vessels this week, and the U.S. has continued to blockade Iranian ports. The shipping traffic that passes through the 'crucial waterway' at the entrance to?Gulf? during an uneasy ceasefire, between Washington and Tehran, represents only a fraction the 140 average daily passages prior to the Iran War beginning on February 28, 2008. "Most shipping companies will need to have a stable ceasefire, and both sides of conflict must reassure them that the...

Two sources said on Thursday that President Donald Trump plans to nominate a business executive with extensive experience in government contracts as the head of the Transportation Security Administration. Trump is planning to hire?David Cummins. He oversees Serco North America's federal, state and local government customer portfolio. Trump had proposed earlier this month to privatize much of the TSA operations and cut nearly 10,000 workers. Trump has not nominated anyone to replace David Pekoske as TSA head since his first day of office in 2025. Pekoske was nominated by Trump during his first term and Joe Biden, the former president,...

Donald Trump, the U.S. president, said on Thursday that he wouldn't?use nuclear weapons in the?"war" against Iran. "Why would I use nuclear weapons?" "We've decimated them in a conventional manner without using it," Trump said to reporters at the White House, when asked if he would use a nuclear weapon. "No, I wouldn't use it." He added that a nuclear weapon must never be used. When asked how long he would be able to wait for an enduring?peace agreement with Iran, Trump replied, "Don't hurry me." He said that Iran may have loaded up its weapons "a little bit", but...

Three Democratic U.S. Senators have asked a federal watchdog to investigate whether the head of the Federal Aviation Administration broke his ethics agreement by delaying the sale of stock in order to increase 'his 'payout following his departure from Republic Airways as CEO. On Thursday, Senators Maria Cantwell and Tammy Duckworth asked if FAA administrator Bryan Bedford had misled Congress by explaining why he failed to divest fully his significant equity stakes in Republic before October 7, as per?his ethics contract. The senators claimed that "Bedford deliberately held onto his shares until his airline completed a 'lucrative merger which likely...

Union -Pacific exceeded Wall Street expectations for the 'first quarter profit' on Thursday. This was due to gains from a sleaner operation and stronger pricing, which helped offset an increase in operating costs. In premarket trading, shares of the company increased by about 1%. Over the years, U.S. railroads have benefitted from precision-scheduled railroading. Leaner staffing and increased efficiencies have helped to overcome challenges posed by freight demand, higher labor and fuel prices and an increase in freight costs. Results come after Union -Pacific signed a $85 billion deal last year to purchase smaller rival Norfolk Southern. This was a...

?U.S. CSX reported higher first quarter?profits and revenues, thanks to a?strong intermodal volume?and a?firm price, sending its share prices up by nearly 7%. Strong intermodal demand, supported in part by consumer spending, helped U.S. railroad operators like CSX to counter the softness of coal and industrial freight. Intermodal volumes is the amount of freight that can be moved by rail, truck, and ship without having to handle the cargo when changing modes. CSX executives stated in a?post-earnings? call that customers have identified selective opportunities in the face of global disruptions. This is especially true in energy-related and chemical?markets. However, they...

CSX, the U.S. railroad company, reported higher 'first-quarter revenue and profit, thanks to a strong intermodal volume and firm pricing. Shares rose more than 6% after 'bell. The results show that the U.S. rail freight sector is improving as operators rely on price discipline and operational efficiencies to manage uneven demand trends. CSX and other U.S. railroad operators are able to counter the softness in coal and industrial freight because of strong intermodal demand. The intermodal volume is the total amount of freight that can be moved by multiple modes, including rail, truck, and ship, without having to handle the...

Two top executives in the shipping sector said that they wanted to see a safe and sustainable passage through the Strait of Hormuz before much oil or cargo leaves or enters?the Gulf. We thought that there was some hope when, two weeks ago, the temporary ceasefire came into view. In reality, the agreement did not translate into safety and passage for the vessels", Jotaro Tamura, chief executive officer of Japan's Mitsui O.S.K. Lines in an interview conducted on the sidelines the Singapore Maritime Week. MOL is the largest shipping company in the world and also the owner of the most...

Shipping data revealed that a superyacht associated with Russian billionaire Alexey Mordashov, who is sanctioned, sailed the Strait of?Hormuz Saturday. It was one of?very, very few vessels? to pass through the blocked shipping lane in the?heart of U.S.Iran conflict. Nord, a 142-meter (465 foot) yacht valued at over $500 million, left a Dubai Marina on Friday around 1400 GMT, crossed the Strait on Saturday and arrived in Muscat on Sunday morning. The multi-deck vessel's route is unclear. Iran has restricted the flow of traffic through the Strait since?February. The strait is responsible for around a fifth of the world’s oil...

China's Foreign Ministry rejected on Friday an accusation made by U.S. president Donald Trump, that a cargo ship?flagged with Iranian flag?was seized by the United States. The "gift" from China was the armed forces. The U.S. claimed it had fired and seized a cargo ship from Iran that was trying to evade the blockade of Iranian ports. The Iranian military claimed that the ship was en route from China, and promised retaliation for what it called "armed piratery by the U.S." military." Trump told CNBC on Tuesday that the ship had "some things on it, which weren't very nice." "A...

As fuel prices rise, they are causing inflation and affecting consumer confidence, while also weighing on the earnings of Australian and New Zealand companies. Some of the companies from Australia and New Zealand have reported an impact on their business due to the Middle East conflict. Air New Zealand, New Zealand's flag airline, announced that it would be raising fares in response to the volatility of jet fuel prices. It was one of the first airlines to do so. The airline announced on April 7 that it would cut flights by 4% and 1%, respectively. Auckland International Airport, New Zealand:...

Gulf equities fell in?early trading on Monday on fears that the ceasefire?between Washington, D.C., and Tehran, could unravel, after the U.S. seized?an Iranian freight vessel. Meanwhile,?traffic along the?Strait of?Hormuz remained largely halted. The hope for a lasting peace in the Middle East dimmed when Iranian state media reported Tehran's rejection of new talks. It also said that Tehran would not participate in a second round if negotiations, which the U.S. hoped to convene before Tuesday's ceasefire expired. The war, now in its eighth year, has triggered an historic shock for global energy supply, sending oil costs soaring, as the Strait...

Early trade in the UAE on Monday was a decline as concerns grew that the 'ceasefire' between Washington and Tehran might unravel after the U.S. seizes an Iranian cargo vessel, while traffic through the Strait of Hormuz remains largely suspended. The prospects for peace in the Middle East have been further dimmed by reports in Iranian state media that Tehran has'rejected' new talks and will not participate in a second round of negotiations which the U.S. hoped to convene before Tuesday's ceasefire expired. They cited the continuing blockade, the threatening rhetoric and the United States'shifting positions' and 'excessive requests'. Dubai's...

?Ship sources reported that two merchant vessels were hit by gunfire while attempting to cross the Strait of?Hormuz. After receiving a mariner's notice a day before, a number of commercial vessels attempted to transit the strait. The notice stated that passage was allowed but limited to Iran-approved lanes. Sources in maritime and shipping security said that on Saturday, "at least two ships" reported that Iranian boats had fired shots. These incidents occurred in the waters between Qeshm Island and Larak. Sources said that the vessels returned without completing their crossing. The United Kingdom Maritime?Operations agency (UKMTO), said that it received...

Iran's Foreign Minister said that the Strait of Hormuz is open to all commercial vessels during the remaining 10 days of the U.S. brokered ceasefire between Israel, Iran-backed Hezbollah and the United States. This led to a?sharp fall in oil prices. Senior Iranian officials said that all vessels except naval ships would be allowed to?sail through the strait, but that their plans would need to be coordinated with Iran’s Revolutionary Guards, and transiting ships would only be permitted on lanes Iran considered safe. The U.S. and Israeli war against?Iran that began on February 28 has resulted in the deaths of...

Nigerian Airlines will cease all flight operations on April 20 unless the crippling jet fuel prices are brought down. They accused the country's fuel marketers for artificially inflating them. Airline Operators of Nigeria (an industry group composed of around 12 mainly domestic carriers) complained to the Major Energies Marketers Association of Nigeria in a letter dated April 14 that jet fuel had increased by approximately 270% since February. AON's letter, seen by us, called the increase in jet fuel prices in Africa's largest nation "astronomical" and "artificial", saying that it was far greater than global crude oil price increases. The...

Nigerian airlines will cease all flights on April 20 unless the crippling jet fuel price, which they accuse the country's "fuel marketers" of artificially increasing, is reduced. Airline Operators of Nigeria (an industry group consisting of around 12 mainly domestic carriers) complained to the Major Energies Marketers Association of Nigeria in a letter dated April 14 that jet fuel had increased by approximately 270% since February. The price of oil and fuel has risen since the start of the Iran War, because the conflict is preventing shipping through the Strait of Hormuz. In a letter to AON, the company called...

State news agencies from both Jordan and the United Arab Emirates reported that they signed an agreement on Wednesday to start a $2.3 billion rail line to 'Aqaba Port' and to form a joint venture to build and run it. The agreement relates to?the construction of a 360-kilometre rail?linking mining areas in Jordan, Al-Shidiya & Ghor Al-Safi with its port of Aqaba. The project will?transport 16 metric tons of phosphate and potassium?annually with an investment totaling $2.3 billion. The UAE's official news agency said that the UAE-Jordan Railway Company is a joint venture of?several Jordanian stakeholder and L'IMAD Holding Company,...

The U.S. and Israel war against?Iran is causing financial strains for companies in Australia and New Zealand. Higher fuel prices are stoking inflation, affecting consumer and business confidence, and weighing on corporate earnings. Westpac Banking Corp. and Qantas Airways warned Tuesday that the soaring fuel prices, and consumers' struggles with high costs and borrowing fees, could affect their earnings. Some of the companies from Australia and New Zealand have reported an impact on their business due to the Middle East conflict. Air New Zealand New Zealand's Flag carrier announced a price increase in March after suspending its earnings forecast for...

According to LSEG and industry sources, Russia is likely to 'raise its export duties on liquefied petroleum gases in May - by about 25 times compared to april. Export duty on a propane-butane mixture is currently $5.2 per ton. The levy has been reinstated for the month of April, after being?zero between June 2025 to March 2026 due to?weak prices. Sources said that the export 'duty' on a mix of butane and iobutane could be as high as $119 per tonne in May. Since the U.S. - Israel war with?Iran began in late February, LPG exports have plummeted from the...