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EU Naval Mission says LPG-laden Tanker is on Fire Off Yemen
In a press release, Aspides, the European Union naval force, said that the LPG-laden vessel MV Falcon, was on fire off the coasts of Yemen on Saturday after its crew reported an explosion which forced them to abandon ship. Aspides stated that the cause of explosion was not clear but it most likely an accident based on initial indications. Aspides said that at least 15 percent of the Cameroon flagged vessel was on fire. Aspides warned vessels to maintain a safe distance because the tanker, which was loaded with liquefied gas, could explode. Aspides stated in a press release that "the fire onboard is growing." "MV Falcon is a navigational danger." "Everyone in the area should exercise caution." The 26 crewmembers were being rescued by an operation. Two merchant ships sailing in the area have recovered 24 seafarers so far. Two merchant vessels, one of which was the MV Veda took the seafarers rescued from the ship to Djibouti escorted a Greek frigate. Aspides reported that two crew members have been reported missing. Ambrey, a British security company, said that the MV Falcon was traveling from Oman's Sohar Port towards Djibouti. The explosion happened as the ship was sailing 113 miles south of Aden, Yemen. According to maritime security sources, neither unmanned aerial vehicles nor missiles had been detected. Ambrey stated that the tanker did not match the profile of the Houthi militants in Yemen who are Iran-aligned. According to the Houthi news agency Saba, an official in the Houthi Defence Ministry said that the group has no connection with the incident. Since 2023, Houthi militants claim to have carried out numerous attacks against vessels in the Red Sea in solidarity with Palestinians in response to Israel's Gaza war. The attacks disrupted the flow of trade through the Red Sea, the Suez Canal and one of the busiest shipping routes in the world. Reporting by Enas Al Alashray and Muhammad Al Gebaly; Editing by Jan Harvey, Barbara Lewis and Renee Maltezou
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At least 15 people are killed in a bus crash that occurred in the northeastern region of Brazil
In a statement, the Brazilian Federal Highway Police reported that a bus accident occurred in Pernambuco in northeastern Brazil on Friday evening. The driver of the bus lost control and caused the crash. Accident occurred just before 8 pm. The driver lost control, went into the opposite lane and hit rocks along the side of highway. He then crashed with a sand embankment, overturned, and collided. According to the Federal Highway Police, the Federal Highway Police is investigating the causes of the accident. According to the police list, there were 30 passengers aboard. So far, half have been confirmed as dead, 11 women and 4 men. Total number of injuries has not been revealed. The driver suffered minor injuries. According to the statement, he underwent a test of breathalyzer, and received a normal result. The police said that there were indications some passengers might not have worn seat belts during the accident. (Reporting by Rodrigo Viga Gaier. (Writing by Luciana Magnalhaes Editing Marguerita Choy.
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Fire at Dhaka Airport cargo terminal causes flight delays and diversions
Officials said that flights out of Bangladesh’s main airport on Saturday were either delayed or diverted after a large fire broke out at the cargo terminal. Talha Bin Zassim, an officer with the Fire Service and Civil Defence Media Cell said that 36 firefighting units were working to put out the flames. Airport official Masudul Hasan informed reporters that operations at Dhaka’s Hazrat Shahjalal International Airport have been suspended. He added that all aircraft were safe. The cause of the fire was not immediately known. The problem affects both domestic and international flights. Air Arabia from Sharjah, United Arab Emirates, diverted a flight from Delhi bound for Dhaka to Chittagong and IndiGo from Delhi bound for Dhaka to Kolkata. Officials said that a Cathay Pacific plane from Hong Kong circled in the air after it failed to land at Dhaka Airport. The fire service, army, navy and air force all worked together to put out the fire. This is the third fire in Bangladesh reported this week. The fire that broke out at a Bangladeshi garment factory and adjacent chemical storage facility on Tuesday killed four people. At least 16 people Others were injured. Another fire destroyed a building of a Chittagong export processing zone garment factory on Thursday.
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Security firm reports that a tanker with a Cameroon flag issued a distress call to Ahwar in Yemen.
Ambrey, a British maritime security company, said that a tanker flying the flag of Cameroon issued a distress signal on Saturday following an explosion aboard as it passed around 60 nautical miles south-southeast of Ahwar in Yemen. The cause of explosion is unclear. Ambrey confirmed that it had received radio communications from the crew indicating their intention to abandon ship. A search and rescue effort was in progress. Ambrey said that the vessel was traveling from Oman's Sohar Port, to Djibouti. The tanker is not thought to have been linked to the Houthis, Yemen's Iran aligned militia. Since 2023 they have attacked numerous vessels in the Red Sea, targeting vessels they believe are linked to Israel as a show of solidarity with Palestinians in response to Israel's Gaza war. The attacks disrupted the flow of trade through the Red Sea, the Suez Canal and one of the busiest shipping routes in the world. Reporting by Enas Al Gebaly and Muhammad Al Gebaly, Editing by Jan Harvey & Barbara Lewis
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Sky News reports that Heathrow is considering WPP boss Jansen to be chairman.
Sky News reported that Philip Jansen, former CEO of BT Group and now chairman of marketing services group WPP is in advanced discussions with Heathrow’s board of directors and shareholders about becoming the chairman of the airport. The report cited sources to say that Jansen was the clear frontrunner of the shortlisted candidates. An announcement could be made within weeks, if discussions are successful. Could not verify the report immediately. Heathrow Airport didn't immediately respond to an inquiry for comment. Sky News reported in July that the British aviation hub had been working with headhunter Russell Reynolds Associates on recruiting a successor for Paul Deighton who assumed the position in 2016. Deighton’s term as chairman would have ended on April 30th, 2025 after nine years. Due to recent board changes, and the relatively new appointments of leadership, Deighton was asked to extend his tenure. Deighton stated in the annual report of the company that "I have... accepted to extend my role for a limited time as Chair to ensure continuity and security on the HAHL Board throughout this period transition". Sky News reported that Jansen’s experience as CEO of BT Group – a regulated company – from early 2019 until the end of 2024 was a key factor in his selection as he preferred candidate. According to his WPP profile, the executive began his career with Procter & Gamble and has held leadership positions at Sodexo Group and Telewest. He also worked at MyTravel, Travis Perkins and Sodexo Group. Rhea rose Abraham, Bengaluru reporter; Jan Harvey, editor
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China Eastern Airlines resumes flights as China and India restore air connections
China Eastern Airlines, a state-owned airline, will resume Shanghai to Delhi flights on November 9, according to the website of the airline. This comes as China and India resume their direct air links after a five year diplomatic freeze. According to the airline's ticketing platform, flights will be operated three times per week, on Wednesdays. Saturdays and Sundays. China Eastern Airlines didn't immediately respond to a request for comment sent via email. The Indian Foreign Ministry announced earlier this month the resumption of commercial flights between India and its neighbours after a 5-year-long freeze. The announcement came after Indian Prime Minister Narendra Modi visited China for the first time in seven years to attend a regional security summit of the Shanghai Cooperation Organisation. Both sides discussed how to improve their trade relations, and Modi expressed concern about India's growing bilateral trade deficit. The Indian and Chinese foreign ministers did not respond immediately to requests for comments on the Shanghai-Delhi flight. IndiGo, India's largest airline, announced previously that it would begin daily non-stop flight between Kolkata and Guangzhou. Guangzhou Baiyun International Airport, a state-backed airport, said that when IndiGo announced its plans to expand direct flights between Guangzhou (China) and Delhi (India), it would encourage airlines like IndiGo to offer more routes. After deadly clashes on their Himalayan border, the two countries suspended direct flights in 2020. This led to a long-lasting military standoff. (Reporting and editing by Tom Hogue; Amy Lv and Colleen howe)
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Ship tracking data shows Sinopec diverts supertanker away from US-sanctioned ports
According to Chinese consultants and ship tracking data, the latest U.S. sanction on a major Chinese crude terminal has forced Sinopec to divert one supertanker from its route and to ask certain plants to reduce crude processing rates. LSEG data revealed that a supertanker transporting oil to the Chinese Port of Rizhao, in Shandong Province, changed its destination at the weekend after U.S. sanctions were imposed on Friday on an import terminal located there. JLC Consultancy estimated that Sinopec’s October runs could drop by 3.36% compared to earlier plans, and may be around 5.16 million barrels a day. Sinopec has not responded to comments immediately. LSEG data revealed that the supertanker New Vista chartered by Sinopec’s trading arm Unipec, originally scheduled to discharge in Rizhao, on Sunday, has changed its destination to Ningbo or Zhoushan, for arrival on 15 October. New Vista is capable of carrying 2 million barrels and currently carries Abu Dhabi's Upper Zakum crude. The U.S. Treasury listed the Rizhao Shihua crude oil terminal, which is half owned by a Sinopec logistic unit, in a series of sanctions, including ships that transport Iranian crude and liquefied petrol gas. The U.S. announced that the terminal in Lanshan, in Shandong Province, a major Chinese oil refinery hub, had been sanctioned because it received Iranian oil aboard vessels sanctioned by the U.S. According to analysts and industry executives, one-fifth (or a fifth) of Sinopec’s crude oil imports passes through the Rizhao Terminal.
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Aeromexico, backed by Apollo, seeks a valuation of up to $2.9 Billion in US IPO
Grupo Aeromexico announced on Friday that it was aiming for a valuation up to $2.92billion in its U.S. Initial Public Offering, as the Mexican airline looks to go back public after more than two years. Aeromexico, based in Mexico City, and its existing shareholders seek up to $234.5 millions by offering 11,7 million American depositary shares priced between $18 and 20 each. After a successful bankruptcy reorganization, mature companies are often looking to return to the public markets. Aeromexico filed Chapter 11 bankruptcy in 2020, with $2 billion of debt. The pandemic had a major impact on travel demand. Aeromexico, which emerged from bankruptcy in 2022, is now backed by the alternative asset manager Apollo Global as well as U.S. carrier Delta. PAR Investment Partners, a private investment fund, intends to buy $25 million worth of Aeromexico stock in a simultaneous private placement. The price per share will be 95% of the IPO. Aeromexico was one of the first names to be used in the United States. IPO pipeline Publicly File paperwork In May 2024, LATAM Airlines, based in Chile Return to the Homepage After a $456,000,000 IPO, the New York Stock Exchange will be open in July 2024. PUBLIC MARKETS RETURN The legacy airline, founded in 1934 under the name Aeronaves was nationalized in 1959 by the Mexican Government. In 1971, it began operating under the name "Aeromexico". Aeromexico had been owned by the state for many decades, until 2007 when an investor group led by Citigroup bought it for $250 million. Bidding war Saba Family - The full-service carrier first went public in 2011, and traded on the Mexican Stock Exchange until 2022. Delisted As part of its bankruptcy restructuring. Aeromexico is a low-cost carrier that competes with Volaris, a low-cost airline focused on leisure and business passengers. Barclays, Morgan Stanley J.P. Morgan, and Evercore are all joint book-running managers. Aeromexico intends to list at the New York Stock Exchange using the symbol "AERO." (Reporting and editing by Anuj T. in Bengaluru, Arasu Kanagi Basil; Shrey Biswas).
US considers plan to stop Iranian oil ships at sea
Sources familiar with the situation have confirmed that the Trump administration is considering stopping and inspecting Iranian oil tankers on the high seas as part of an international agreement aimed at preventing the spread of weapons.
Trump has pledged to reinstate a "maximum-pressure" campaign in order to isolate Iran from global economics and reduce its oil exports down to zero. This is to prevent the country from obtaining nuclear weapons.
Trump imposed two new waves of sanctions on Iran in the first few weeks of his second term, focusing on companies and a shadow fleet of old oil tankers without Western insurance that transport crude from sanctioned nations.
These moves are largely in line with limited measures taken during the administration of former President Joe Biden, when Iran was able to increase oil exports by establishing complex smuggling network.
According to six anonymous sources, Trump officials are looking for ways to allow allied countries such as Australia and New Zealand to inspect and stop ships that pass through choke points like the Malacca Strait and other sea routes in Asia.
This would cause a delay in the delivery of crude oil to refiners. Sources said that it could expose those involved in the facilitation of the trade to sanctions and reputational damage.
One of the sources stated that "you don't need to sink ships or imprison people to get the chilling effect" that the risk is not worth it.
"The delay in delivery... creates uncertainty within that illicit trade network."
The administration was investigating whether inspections could be carried out at sea under the Proliferation Security Initiative, launched in 2003 to prevent the trafficking in weapons of mass destruction.
This initiative was driven by the United States and has been signed up to date by more than 100 governments.
One source said that this mechanism could allow foreign governments to target Iran’s oil shipments on Washington’s request. This would effectively delay deliveries and hit supply chains Tehran depends upon for revenue.
Two sources confirmed that the National Security Council (which formulates policies at the White House) was considering possible inspections on the sea.
Washington has not yet contacted any of the signatories of the Proliferation Security Initiative in order to gauge their willingness to work with the proposal.
John Bolton was the U.S.'s lead negotiator when the initiative was created. He said: "It would be completely justified" to use this initiative to reduce Iran oil exports. He said that oil sales were "clearly crucial" to raising revenue for Iran's government to support its terrorism and proliferation activities.
The White House National Security Council has not responded to any requests for comments.
The Iranian oil and foreign ministers did not reply to separate requests for comments.
Masoud Pezeshkian, the Iranian president, told Iran's Parliament on March 2, that Trump had "once again signed an executive order sanctioning many our ships at sea and leaving them unsure about how to deload their oil or gas cargo". He was referring the latest round of Trump sanctions.
POTENTIAL BLOWBACK
Iran has retaliated against previous attempts to seize Iranian crude oil cargoes.
Biden, the U.S. Vice President at that time, tried to intercept at least two cargoes containing Iranian oil. Iran seized foreign ships, including one chartered Chevron Corp. This caused crude prices to rise.
Ben Cahill, energy analyst at Center for Energy and Environmental Systems at University of Texas, says that the current low oil prices give Trump more options for blocking Iranian oil flow, including sanctions against tanker companies and seizing ships.
"I think that if the price of a barrel stays below $75, then I believe that the White House will have more leeway to consider sanctions which would impact, you know, Iran's supply and other countries. Cahill stated that it would be harder to achieve this goal in an environment where the price of a barrel is $92.
He said that aggressive U.S. actions could reduce Iran's exports to 750,000 barrels a day in the short-term. However, as the sanctions remain in place for longer, they become less effective, since Iran and buyers will find ways around the restrictions.
The rapid resumption in oil exports by Iraq's semiautonomous Kurdistan would offset any drop in Iranian exports. The White House has been putting pressure on Iraq for the Kurdish oil to resume exports or face sanctions along with Iran.
According to estimates by the U.S. Energy Information Administration, despite U.S. sanction in recent years, Tehran’s oil exports generated $53 billion and $54 billion a previous year, mainly through trade with China.
Iran's vital revenue comes from oil exports to China. Russia, which is also facing restrictions on oil sales and wider Western sanctions, is focusing on shipping oil to China and India.
In recent months, Finland and other Nordic nations have warned of the dangers that ships can pose when sailing near their shores. They also warn of the potential environmental hazards they could cause if an oil spill occurs.
Although European countries have discussed the inspection of ships carrying Russian oil that are suspected to be without valid insurance, there has been little action taken. Reporting by Jonathan Saul, Jarrett Renshaw, Timothy Gardner, Parisa Hafezi, and David Gregorio in Dubai. Editing by Richard Valdmanis, David Gregorio, and Richard Valdmanis.
(source: Reuters)