Transport Infrastructure

Fears of increased tariffs led retailers to stock up goods in preparation for the holiday season. Last month, the Port of Los Angeles received 470 450 20-foot units (TEUs), after the U.S. and China reached a truce on tariffs. This was an increase of almost 10% over a year earlier and contributed to a record volume for the entire month. Port of Los Angeles Director Gene Seroka. Seroka stated that the June surge "highlights tariff whipsaw effects" caused by U.S. policy. The result for last month was 32% higher than May, when short lived 145% import tariffs on China hammered...

Abacus Storage Kings in Australia said that it had received an improved non-binding bid from a group of Ki Corporation and U.S. listed Public Storage, valuing the company at A$2,17 billion ($1.43billion), up from its previous offer of A$1.93billion. The consortium, which included South African billionaire Nathan Kirsh’s family office Ki Corporation as well as U.S. based Public Storage, raised its offer from A$1.47 per share to A$1.65 after Abacus had rejected the previous bid in mid-May. Abacus’ independent board committee has said that it will give the consortium six-weeks of due diligence in order to determine if an agreement...

The preliminary report on the Air India crash, which killed 260 people, revealed that three seconds after takeoff, the aircraft's fuel cutoff switches switched from run to off almost simultaneously, depriving the engine of fuel. According to the report published on Saturday by Indian aviation investigators, the Boeing 787 Dreamliner immediately started to lose thrust and sank down. On the cockpit voice recording, one pilot is heard asking the other pilot why he stopped the fuel. The report stated that "the other pilot replied that he had not done so." The crash report did not specify which flight captain made...

On Friday, Britain's Warehouse REIT recommended Blackstone to its shareholders the sweetened offer. Tritax Big Box REIT had previously supported this bid. Blackstone increased its offer to the London-listed firm on Thursday from 485.2 pounds in cash and stock, to approximately 489 million pounds. Due to the strong demand for warehouse space from eCommerce retailers to better serve their clients, logistics has remained an attractive property investment in a market that is otherwise lacking in vibrancy. Real estate investment funds - listed property funds - are also undergoing a dealmaking wave as they seek to increase profitability during tough trading...

The U.S. President Donald Trump’s 50% tariff on the metal has caused a record-high premium in the United States. This is expected to decrease over the next few months, as traders who anticipated the tax will work their way through the system. An investigation that began in February led to the tariffs. Commerce Secretary Howard Lutnick stated they would likely be implemented by August 1, or even sooner. Analysts had predicted that the levy will be 25%. That was enough to cause stockpiling, which led to a 25% increase in the copper price traded on COMEX from the beginning of...

According to records from customs and shipping, at least one Chinese company is involved in this trade. China is the largest supplier of antimony, gallium, and germanium used in semiconductors, telecommunications, and military technology. Beijing banned the export of these minerals to America on December 3, following Washington's crackdown against China's chip industry. The shift in trade flows highlights the struggle for vital minerals, and China's struggle for enforcement of its curbs. It is competing with the U.S. to achieve economic, military, and technological dominance. Trade data shows that U.S. shipments are being rerouted via third countries, a problem which...

Analysts say that Brazil's corn will face new challenges as the shipping season begins, with logistical issues possible, China buying less and the United States expected to be a strong competitor. They said that corn exports will increase in volume for 2024/25, but they could also face bottlenecks, as they would have to compete with each other for space in the ports, if China's continued demand for Brazil’s record soybean harvest in 2025. According to government projections the corn production in Brazil is expected to reach 128.3 millions metric tons this season, a 11% increase from last season's cycle. StoneX,...

According to reports, the Transportation Security Administration will announce that passengers won't be required to remove their footwear during security checks in some U.S. Airports. CBS News reported on Monday, citing sources that the TSA's policy change appears to be phased in, with the first airports where the requirement for no shoes will end being Baltimore/Washington International Airport and Fort Lauderdale International Airport. Karoline Lavitt, White House Press Secrecy, responded to the CBS report on X on Tuesday with "Big News from @DHSgov!" Karoline Leavitt's response included emojis of an airplane and shoe. On Tuesday afternoon, Homeland Security Secretary Kristi...

Alstom, a French train manufacturer, announced on Friday that it received a $2.45 billion order from the New York Metropolitan Transportation Authority for M-9A railcars to be supplied to the Long Island Rail Road (LIRR) and Metro-North Railroad. Alstom announced that the contract, which MTA announced in June, would be booked during the second quarter 2025/26 fiscal years. MTA announced last month that Alstom pilot railcars would be delivered by 2029, and will enter service on Long Island Rail Road as passenger cars in 2030. It added that all 316 railcars included in this order would be delivered by the...

Tesla has failed to convince a federal court to dismiss a lawsuit filed by a woman who died after a Model S equipped with Autopilot ran off the road at Key Largo in Florida. This could lead to a trial next month. U.S. District Court Judge Beth Bloom said that the estate of Naibel and Dillon Angulo may bring design defect and failure-to-warn claims against Elon Musk's billionaire automaker and seek punitive damage. The trial for July 14 has been scheduled. Tesla's lawyers and plaintiffs have not responded to comments made by the media. Tesla, located in Austin, Texas has...

Verizon Business announced on Wednesday that it has been awarded a contract for the construction of multiple private 5G networks in Thames Freeport, Britain's largest shipping and logistic center. In partnership with Nokia Finland, Verizon will deploy private 5G network across multiple industrial sites, including Ford's largest London Manufacturing Facility and major ports, along the River Thames Estuary. Private 5G networks offer dedicated connectivity, which avoids congestion and speed variations on public networks that are shared by many users. This enables advanced industrial applications such as Artificial Intelligence (AI). The adoption of 5G in European ports has not yet reached...

The top U.S. Diplomat for Africa dismissed Tuesday allegations of unfair U.S. Trade Practices and said that delays in funding would not derail an important railway project connecting Angola with Zambia and the Democratic Republic of Congo. African Union officials questioned on Monday how Africa could strengthen trade ties with America under what they called abusive tariff proposals and tightening of visa conditions that primarily target travellers from Africa. "There is not a visitation ban," said Ambassador Troy Fitrell during a Luanda Business Summit press conference. He stated that the U.S. Consulates continue to issue visas, though some have shorter...

SANA, the Syrian state news agency, reported that Syria's General Authority for Land and Sea Ports signed a $800-million agreement on Sunday with UAE's DP World in order to improve port infrastructure and logistical support for Syria. The agreement is a follow-up to a Memorandum of Understanding signed by the two parties in May. The agreement with DP World (a subsidiary of United Arab Emirates' investment company Dubai World) focuses on the development of a multipurpose terminal in Tartous, on Syria’s Mediterranean coast, and on cooperation for setting up industrial zones and free trade areas. At the signing ceremony, Syrian...

Israel's military announced early Monday that it had attacked Houthi targets at three Yemeni ports, as well as a power station. This was the first Israeli strike on Yemen for almost a whole month. The military said that the strikes on Hodeidah and other ports such as Ras Isa, Salif, and Ras Qantib were a result of repeated Houthi attacks against Israel. Israel also destroyed the Galaxy Leader in Ras Isa, a ship that was captured by Houthis at the end of 2023. The military reported that "the Houthi terrorists regime's forces have installed a Radar system on the vessel...

The mining giant BHP Group announced on Wednesday that it had signed contracts with China’s COSCO Shipping to charter two Newcastlemax bulkers powered by ammonia and dual fuel. Two vessels will be delivered in 2028, and chartered for five years. The vessels will be primarily used to transport ore from Western Australia into Northeast Asia. These vessels can reduce greenhouse gas emissions by at least 50 per cent and up to 95 per cent on a per-voyage basis compared to a conventionally-fuelled voyage, if they run on lower or low-to-zero GHG emissions ammonia, according to BHP. As part of its...

Air taxis could soon be available for Dubai commuters to avoid traffic. Joby Aviation has conducted its first test flight in the emirate of its fully electric air taxi this week. This is a significant milestone in the efforts by the city to integrate airborne transportation into existing mobility networks, as early as next. Joby is hoping that its air-taxis can ease the pressure on Dubai's existing ground transportation system and provide travelers with a faster alternative, as Dubai continues to experience increasing congestion. Anthony Khoury said, "We want people to commute differently." The company estimates that a journey from...

The major Gulf stock markets traded mixed on Monday morning, with the Saudi index falling on profit-taking while the Dubai exchange reached its highest level for seventeen years. Dubai's main stock index rose 0.7% to its highest level since May 2008. Blue-chip developer Emaar Properties also gained 0.8%. National Central Cooling Co. (Tabreed), meanwhile, grew by 2.1%. Tabreed, a private equity firm, and CVC DIF's infrastructure strategy division, CVC DIF plan to buy Multiply Group, based in Abu Dhabi,'s district cooling company. CVC DIF has entered into a partnership with Tabreed to purchase PAL Cooling Holding for a value of...

The Gulf stock markets rose early on Thursday. They extended gains from previous sessions, amid rising oil costs and a perceived ceasefire between Israel & Iran. Donald Trump, the U.S. president, praised the rapid end of the air war between Iran & Israel. He said Washington will likely ask Tehran to commit to ending its nuclear ambitions during next week's talks with Iranian officials. Saudi Arabia's benchmark index rose 0.2% in a fourth consecutive session. Most sectors were also up. Saudi Aramco, the oil major, added 0.3%. Red Sea International rose 3%. Red Sea, a modular house manufacturer in Saudi...

Iranian TV reported on Sunday that the top security authority in Iran must decide whether or not to close the Strait of Hormuz. The measure was reportedly approved by parliament as a response to U.S. attacks on Tehran's nuclear facilities. Iran has threatened to close the Strait in the past, but never taken action. This would have restricted trade and affected global oil prices. Here are some details on the Strait. What is the STRAIT of HORMUZ? The Strait is located between Oman, Iran and the Gulf of Oman. It connects the Gulf of Oman in the north with the...

Maersk, a container shipping company, announced on Friday that it has temporarily suspended vessel calls to Israel's Haifa Port due to the country's escalated conflict with Iran. The Danish company stated that it has not encountered any other disruptions in its planned operations in the area. Haifa Port, which will be privatized by India's Adani Ports in 2022, has 70% of its ownership held by Adani Ports, while 30% belongs to Israel's Gadot Group. Adani Ports, the port-operating arm of Adani Group led by billionaire Gautam Adani, is part of Adani Group. The company has four ports, including Haifa Port....

Shipping sources reported on Wednesday that commercial ships were sailing near Oman, and maritime agencies are advising them to avoid Iran's water around the Strait of Hormuz. The conflict between Israel, and Iran is at risk of escalating. Iran has threatened in the past to close down the Strait of Hormuz in response to Western pressure. The closure of the Strait of Hormuz could affect trade and global oil prices. Ships sailing to Hormuz have taken the latest precaution to reduce risks. They are now sailing near the coast of Oman for most of their journey. The Gulf of Oman...

On Wednesday, Iran and Israel both accused one another of endangering the commercial activity around the Gulf and Red Sea in the UN's Shipping Agency as their military conflict escalated. Iran's delegation said at a meeting of the International Maritime Organization security committee that Israel has recently extended its "unlawful attack" to include petrochemicals and gas infrastructures in Asalouyeh, along Iran's Gulf Coast. Iran's livestreamed statement to delegates of the IMO said that "These actions directly threaten international maritime security as well as the global energy supply chains." If the international community does not take immediate and concrete steps to...

Pasifik Eurasia Lojistik announced that it had signed a railway transportation agreement with a subsidiary China Railway for the launch of cargo train services on a corridor connecting China to Europe via Turkey, bypassing Russia. The initial plan is to operate 10 train services, and eventually 1,000. It is anticipated that the Middle Corridor will see a significant increase in freight volume thanks to the partnership with China's state-owned railway logistics company. The Middle Corridor, a China-Europe freight route that is promoted by the West, includes Kazakhstan, Azerbaijan and Georgia, as well as Turkey. Fatih Erdogan, Chairman of Pasifik Holding's...

Israel's Airlines said Tuesday that the government had given them permission to begin flights to bring people back who were stranded overseas during the conflict with Iran. Israel's airspace is closed after Israel and Iran started trading attacks on Friday. Tens of thousands were stranded when their flights to Tel Aviv cancelled. El Al Airlines, Israel’s flag carrier, announced that it will operate flights from Larnaca to Israel on Wednesday, as well as to Athens, Rome and Milan. It added that there would be no more passenger flights departing Israel. El Al has canceled all scheduled flights until June 23....