Latest News
-
Russia launches drones and missiles at western Ukraine. Poland scrambles its aircraft
NATO member Poland scrambled its aircraft early Sunday morning to ensure the safety of the air after Russia launched airstrikes against Ukraine. Ukrainian officials reported missiles and drones falling on the Lviv area near the Polish border. In a recent post, Poland's operational control said that "Polish aircraft and allied aircraft operate in our airspace while ground-based radar reconnaissance and air defence systems have been brought up to the highest level of readiness." After Poland shot down suspected Russian aircraft in its airspace, in September, eastern-flank NATO member countries are on high alert. Drone sightings and air incursions have caused chaos in European aviation, including in Copenhagen, Munich and elsewhere. Lithuania's Vilnius airport was closed overnight for several hours after reports that a series of balloons may have been heading toward the airport on Saturday evening. Flightradar24 reports that early Sunday morning, commercial flights used routes typically used during the closure of Poland's Lublin airport and Rzeszow near the Ukrainian border. Flightradar24's report could not be independently verified. The U.S. Federal Aviation Administration website did not immediately post any notices about possible disruptions to flights in Rzeszow or Lublin. Eurocontrol, the European air traffic controller, has warned that delays are likely to be high in airspace controlled by Poland because of the "Ukraine Situation". All of Ukraine is under threat Ukraine's Air Force warned that all of the country is under threat from new Russian missiles at 0300 GMT. This follows hours of warnings about drones and missiles, as well as air raid alerts. Andriy Sadovyi is the mayor of Lviv, a city in western Ukraine about 70 km from the Polish border. He said that missiles were heading towards the city, after the air defence systems had already been heavily engaged to repel a Russian drone strike. Witnesses reported hearing the sound of air defence systems operating from all directions. Russia has not yet commented on the potential damage. Both sides have launched air attacks to destroy infrastructure that is deemed vital to the war effort, such as energy and transport facilities. Reporting by Lidia Kelley in Melbourne and Andriy Parun in Lviv, editing by Jamie Freed
-
Vilnius Airport suspends all traffic due to possible balloons in the airspace
Lithuania suspended air traffic on Vilnius Airport because balloons may have flown in its airspace. Flights were diverted to other countries, said the airport operator late Saturday. In recent weeks, drone sightings have caused havoc in European aviation. This has happened at airports such as Copenhagen and Munich. "Attention: the airspace above Vilnius Airport has been closed," the airport stated in a website statement. The closure is expected to last up until 2:30 am local time (2330 GMT). Flights diverted to Poland and Latvia The airport website and airline announcements are the best places to check for updates, according to the statement. According to our information the decision was taken due to an alleged series of balloons headed toward Vilnius Airport. Flights have been impacted as a result," the airport announced on social media. The operator reported that most incoming flights had been redirected towards neighbouring Latvia and Poland while departures had been cancelled. One flight from Copenhagen was diverted to Denmark. In August, NATO member Lithuania said that it had declared an 90-km-long (56-mile-long) no-fly-zone parallel to its border with Belarus in response to drones coming from there. This would allow the armed forces of Lithuania to respond to violations. Lithuania, which is a staunch supporter of Ukraine shares a border of 679 km (422 miles) with Belarus, an ally of Russia. Vilnius, the capital of Lithuania, is located about 30 km away from the border. Reporting by Nerijus Adomiaitis in Oslo and Terje Solsvik Editing by Matthew Lewis, Rod Nickel
-
China cancels some flights when Typhoon Matmo approaches Hainan during high holiday travel
Chinese authorities have cancelled flights and ferries on Hainan Saturday night, before Typhoon Matmo strikes the province in the south. This is likely to disrupt a busy holiday travel season for the island resort. The official Xinhua agency reported that all flights from and to the international airport of the provincial capital Haikou are expected to be canceled at 11 p.m. Sanya's Maritime Safety Bureau, the resort city of Hainan, has also announced that all tourist ferries and ships will be banned in its jurisdiction as of 6 p.m. Sunday is expected to be a landfall day Matmo is expected to land around noon Sunday, after it has approached east of Hainan. Its maximum wind speed will be between 42 and 48 meters per second. Haikou will stop all schooling, work, and transport on Sunday afternoon, Xinhua reported, while Zhanjiang, a port city in Guangdong, is also planning to do this. Xinhua reported on Wednesday that during the eight-day holiday, which begins with China's National Day, on October 1, the average daily trip is expected to increase by 3.2% compared to the same period in the previous year. According to Hainan official social media, Haikou planned more than 150 cultural events, including sports competitions, and Sanya planned 170 arts and tourism activities during the holiday season. Citing meteorological experts, the state media CCTV asked the public to be vigilant, as Matmo would have a severe impact on tourism and transport during a busy travel period. At noon, the Hong Kong Observatory upgraded its Tropical Cyclone Warning Signal to Strong Wind No. 3 and said it would assess whether higher signals are needed later on Saturday. The Hong Kong Observatory raised its tropical cyclone warning signal to Strong Wind Signal No. 3 at 12 noon and said that it would evaluate the need for higher signs later on Saturday. The observatory reported on Friday that the financial hub had issued 12 tropical-cyclone warnings this year. This is the highest number since 1946. Clare Jim is the reporter. (Editing by William Mallard, Mark Potter and Clare Jim)
-
Russian strikes passenger train in Ukraine injuring dozens
Officials said that a Russian drone struck a passenger train in a station at the northern Sumy region of Ukraine, injuring several dozen people. "A brutal Russian strike on the railway in Shostka region, Sumy," Ukrainian President Volodymyr Zelenskiy posted on Telegram. He included a video showing a burning wrecked passenger carriage, as well as others that had their windows blown out. He claimed that dozens of rail workers and passengers were injured. Oleh Hryhorov, regional governor of Ukraine, said that the attack occurred on a train traveling from Shostka towards the capital Kyiv. He said that medics and rescuers had been working at the scene. Oksana Tarasiuk, the head of district administration in the area, told Ukraine's national broadcaster that the strike had injured about 30 people. In the immediate aftermath, no fatalities were reported. The Russians couldn't have been unaware they were attacking civilians. Zelenskiy wrote that the world cannot ignore this act of terrorism. In the past two months, Moscow has intensified its airstrikes against Ukraine's rail infrastructure. It has been hitting it nearly every day. (Reporting and editing by Max Hunder. Editing by Alexandra Hudson. Mark Potter (Editing by Alexandra Hudson)
-
After drone sightings in the late night, Munich Airport begins a slow reopening
Munich Airport said Saturday that it would gradually resume flights at 7 am (0500 GMT), and delays were expected throughout the day. This comes after the airport had closed both runways for the second time within 24 hours because of a drone sighting. After the closure on Friday evening, the airport asked travellers to contact their airline as it prepared for a restart two hours later than initially scheduled. Authorities said that dozens of flights were diverted or canceled, leaving 6,500 passengers stranded. In recent weeks, drone sightings have repeatedly thrown European aviation into chaos. Some authorities blamed Russia for the incidents. The Kremlin denies any involvement. The authorities have not yet attributed the drone sightings on Thursday or Friday to a particular actor. A statement posted on the airport's website stated that "German air traffic management restricted flight operations in Munich Airport due to unconfirmed sightings of drones, and suspended them until further notification." The airport updated its website later and said that 23 flights had been diverted to Munich, 12 flights had been cancelled, and 48 departures were postponed or cancelled. The report added, "As in the previous evening, airports and airlines looked after passengers." "Camp beds and blankets were distributed, as well as drinks and snacks." The captain of a London bound aircraft who had its departure cancelled informed passengers the previous night that the runways were closed due to drone sightings "near the take-off runways and landing runways", and that helicopters from the police department were in the air. Airport website indicated that due arrivals were diverted beginning at 8:35 pm (1835 GMT). Munich Airport was closed late Thursday night and into the early hours of Friday morning after drone sightings disrupted many flights. Alexander Dobrindt, the German interior minister, promised on Friday that he would introduce legislation to make it easier for police to request the military to shoot down drones. (Reporting and additional reporting by Kirstiknolle and Mrinmay dey; Writing and editing by Thomas Escritt, Chris Reese and Rosalba o'Brien, William Mallard, and Chris Reese)
-
China cancels some flights when Typhoon Matmo approaches Hainan during high holiday travel
Chinese authorities have cancelled flights to Hainan Saturday night, before the typhoon Matmo strikes the province in the south. This is likely to disrupt a busy holiday period on the island. The official Xinhua agency reported that all flights from and to the international airport of the provincial capital Haikou are expected to be canceled at 11 p.m. Matmo is forecast to land on Sunday. Haikou will suspend all school, work, and transport between Saturday afternoon and Sunday, Xinhua reported. Xinhua reported on Wednesday that during China's eight day National Day holiday which began on March 23, people will make approximately 2,36 billion passenger journeys, with the daily average trip forecast to increase by 3.2% compared to the same period in 2013. According to Hainan official social media, Haikou planned more than 150 cultural events, including sports competitions, and Sanya planned 170 tourism and art activities. Citing meteorological experts, state media CCTV asked the public to be vigilant, as Matmo would have a significant impact on tourism and transport, while the number travellers has increased significantly. Hong Kong Observatory has announced that it will raise the Tropical Cyclone Warning Signal to Strong Wind Signal No. At 12:20 pm (0420 GMT), the Hong Kong Observatory will raise the tropical cyclone warning signal to Strong Wind Signal No. The observatory reported on Friday that the financial hub had issued 12 tropical cyclone alert signals this year - the most in the past 46 years. Clare Jim, William Mallard and William Jim are the editors.
-
FT reports that Pakistan is courting the US for a new Arabian Sea port.
Financial Times, citing an alleged plan, reported that Field Marshal Asim Muniz's advisers had approached U.S. officials to offer to build and operate a port in the Arabian Sea. According to the Financial Times, the plan involves American investors building and running a terminal in Pasni to access Pakistan's vital minerals. Pasni lies in Gwadar District, in the province Balochistan which borders Afghanistan, Iran and Pakistan. Munir and Pakistan's prime minister Shehbaz Shariff met with Donald Trump, the U.S. president, at the White House back in September. Sharif requested investment in the U.S. mining, energy, agriculture and technology sectors during that meeting. According to the FT the offer was made with some U.S. government officials and shared with Munir before a meeting at the White House with Trump late last month. The FT reported that the blueprint does not include the use of the port as a base for U.S. bases. Instead, it aims to attract funding for a railway network connecting the port with mineral-rich provinces in the west. Could not verify the report immediately. A request for comment was not immediately responded to by the U.S. State Department or White House. The Pakistani Army was not immediately available. Reporting by Abu Sultan from Bengaluru, edited by Chris Reese & Shri Navaratnam
-
Grupo Mexico, the mining giant, has made a new offer to Citi Banamex
Grupo Mexico, a Mexican mining and transport giant, has made a binding bid to buy Citi's retail business in the country (Banamex), more than two year after scrapping previous plans. Grupo Mexico stated in a filing in which it said that its bid demonstrated its "unwavering faith" in the country, and that a similar purchase would make Banamex once again competitive with its peers. It said that the firm controlled by Mexican billionaire German Larrea would buy 25% of Banamex for 0.85x its book value and the remaining 75% for 0.80x its book value. Citi paid Banamex $12.5 billion in 2001. The offer was made a week ago by Fernando Chico Pardo. He is the chairman of airport operator ASUR. A deal was made for a 25 percent stake at $2.3 billion. Banamex to be acquired by Grupo Mexico The 2023 Fallout Sources claim that tensions between the two parties and the then-administration of Andres Manuel Obrador caused them to cancel the agreement. (Reporting and editing by Natalia Siniawski, Kylie Madry)
US retailers rush to import holiday goods, fearing disruptions and strikes
Retailers are preparing for a rush of summer imports into the United States, as they prepare to face a possible strike of port workers. They also want to avoid the ongoing disruptions in shipping caused by attacks on ships in the Red Sea.
Container imports and rates of freight surged in the month of July, signaling a peak season earlier than usual for an industry that deals with about 80% global trade.
Analysts predict that July will be the peak month for U.S. retail, which accounts for half of this trade. August should be nearly as strong, they said.
To attract customers who shop earlier in the season, companies that import toys and home goods have offered holiday promotions. Jonathan Gold, vice president of supply chain and customs policies at the National Retail Federation (NRF), said that retailers don't like to be caught off guard.
Peter Sand, Chief Analyst at pricing platform Xeneta, stated that many shippers have expedited orders for holiday goods. Some even put Christmas items in the water as early May.
Experts said that the influx of goods is not due to consumer spending which has been held back by high interest rates and stubborn inflation. It is more of a precautionary measure against a possible U.S. Port Strike and the late November 28th date for Thanksgiving, which would have shortened the peak season from Christmas Eve to the end of the year.
According to Descartes Systems Group, the supply chain software company, U.S. container exports in July were at their third highest monthly volume ever with 2.6 millions 20-foot-equivalent units (TEUs). This is up 16.8% compared to a year ago, largely due to record-breaking imports from China.
The NRF's executive committee includes Target, Macy's, and Saks CEOs. It also anticipates strong imports in August. Walmart, America's biggest container shipper, will report its second-quarter earnings in August.
After talks between the International Longshoremen's Association (ILA) and the United States Maritime Alliance stalled, retailers are worried about a possible strike on Oct. 1, at seaports from Maine to Texas.
Maersk outlined on Friday the potential consequences of a strike disruption in U.S. port.
Maersk stated in an update on the U.S. Market that even a week-long shutdown could cause significant delays and backlogs to increase with every passing day.
According to Xeneta, the non-contract spot rate for a container traveling from the Far East up to the U.S. West Coast jumped by 144% between April and July, but has since dropped 17%. Similar trends have been seen on container routes going to the U.S. East Coast, northern Europe, and the Mediterranean.
Sand stated that "we should see the spot markets fall even further. However, the decline will not be as rapid. It is still going be a painful year-end for shippers."
TARIFF THREAT
In the first half 2024, container imports to the United States were largely driven by industrial products. This was partly because of looming tariffs for exports from China. The administration of President Joe Biden imposed new tariffs on a number of goods that will go into effect later this summer.
Jason Miller, professor at Michigan State University’s Business School and expert in supply chain management, said that solar cells and EV batteries are the main beneficiaries of tariffs.
Biden has kept the tariffs in place that his predecessor Donald Trump had put into effect. Donald Trump has, as the Republican nominee for 2024, threatened to increase tariffs even further if he wins the White House. Miller stated that despite this threat, companies have not responded in a big way. Maersk, a global shipper, said that there may be a pull-back in demand before the November U.S. elections due to tariff uncertainty.
Maersk CEO Vincent Clerc stated this week that there was a general consensus on the fact that the United States has entered into a more competitive relationship with China, and the outcome of the elections will not affect the relationship.
(source: Reuters)