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Rolls-Royce wants to enter the narrow-body market, and it's 'even truer' than ever before.
Tufan Erginbilgic, CEO of Rolls-Royce, said that it was "even truer" on Tuesday that the British jet-engine maker would love to re-enter narrow-body aircraft market. He claimed that he described the single aisle market as a business opportunity in the past and this was "even truer" now. He told reporters attending the Paris Airshow: "We're talking to many parties and they're also talking to us. We obviously engage with Airbus, because they are the ultimate customers and they welcome this." He said that a successful move into narrow-body vehicles could be the biggest boost for Britain's economy. Rolls-Royce and Pratt & Whitney were in an alliance on engines for Airbus A320 one-aisle aircraft until 2011. It pulled out of the alliance for the current generation narrow-body jets, whose sales are booming. Airframers and engine makers are vying for the top spot ahead of the replacements to the Airbus A320 family and Boeing 737. Erginbilgic believes that the airframers will not be moving to the next-generation before 2035. Rolls has developed a smaller version its fuel-efficient Ultrafan demonstration vehicle, which is seen as an important step in reentering the market. Rival GE Aerospace has been testing with French partner Safran their RISE open fan technology for future narrow bodies, which promises fuel savings of around 20% by 2035. Erginbilgic stated that Rolls has previously investigated the rival technology and believes fuel efficiency would be "at best" 2-3% higher with an open fan than its next-generation ducted engines. However, "the risks are much greater". He said, "It's a commercial risk as well as some other risks because you will change the entire aircraft configuration." He said that the risk profile was much greater than developing an efficient ducted motor. Rolls has achieved fuel savings of 2% on some existing engines. He said that the acceptance of radical technologies by passengers should not be ignored. He said, "I don't think passengers will like to see such a large fan." You need to make flying as comfortable and safe as you can. "Even the visual representation is difficult to see."
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Memo shows that JetBlue is planning new cost-cutting measures as breakeven expectations for 2025 dim.
According to an internal memo, JetBlue Airways plans new cost-cutting initiatives such as reducing flight numbers as soft travel demand will make achieving breakeven margins in 2025 "unlikely". In morning trading, the shares of the airline fell by nearly 3%. JetBlue's CEO Joanna Geraghty stated in a memo to staff that the company will also be looking for ways to reduce underperforming routes and focus on more profitable ones. It is also reevaluating the size and scope its leadership team. As a result of ongoing inspections on the Pratt & Whitney Geared Turbofan engine, RTX has grounded a number its aircraft. The trade policies of President Donald Trump and his sweeping tariffs are also causing economic uncertainty, and making Americans more cautious about their travel spending. In a memo, Geraghty stated that "while most airlines are feeling it, we're especially frustrated because we had hoped to achieve break-even margins this year. This now seems unlikely." JetBlue announced earlier that it would defer the delivery of 44 new Airbus aircraft, reducing planned capital expenditures between 2025-2029 by approximately $3 billion. The airline refused to comment on CNBC's report of the cost-cutting measures earlier that day. Reporting by Shivansh Tiwary, Bengaluru. Editing by Devika Syamnath
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Russian Sibur resumes LPG supply to India after doubling LPG loadings at Ust-Luga
According to industry sources and LSEG, Sibur, Russia’s largest producer and supplier of liquefied petrol gas (LPG), doubled the amount of LPG loaded through the Baltic port Ust-Luga from January-May 2025 compared with the same period of 2024, to 418,000 metric tonnes. Sources said that Sibur was able to increase its exports through the shipment of new MGC class (medium-sized gas carriers) gas tankers. Each of these vessels can carry up to 20,000 tonnes of product. LSEG data revealed that the company has also resumed LPG deliveries to India, which it had last done in 2023. Sources said that after EU sanctions were imposed on Russian LPG (except butane and iobutane), at the end 2024, Sibur redirected some volumes from Europe to Ust-Luga for seaborne exports, and searched for new buyers of its product. Up until April of this year, 90% of Sibur's LPG sea cargoes were bound for Turkey. Last month Sibur sent two tankers totaling 40,000 tons of LPG to India. According to traders Sibur has shifted some LPG volumes out of Turkey and into India due to the oversupply on the Mediterranean Market. "There's a lot (of gas) on the Mediterranean market, particularly propane. It is a rational move to divert some of the volumes towards India," said one of the sources. Sibur confirmed their LPG shipments to India from Ust-Luga in May. The company believes the increased LPG shipments from Ust-Luga by Sibur in general is due to an "increase in the available volumes of LPG, since the Russian market (is) currently in surplus." The company's press office stated that it "continually evaluates all markets available and will consider the economic efficiency of deliveries" in regards to the future prospects for Sibur LPG deliveries into India. Sibur supplied LPG to India from Ust-Luga in the third quarter 2023, after European buyers banned LPG purchases. According to traders and LSEG, Sibur will reduce loadings at Ust-Luga Port by 37% in 2024 compared to 2023, to 570,000 tonnes. The European Union placed an embargo at the end of 2023 on the importation of Russian LPG. There was a 12-month period of transition during which exports of propane-butane to Europe were possible under contracts signed before the sanctions. The sanctions are in full force since December 2024.
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The German LNG import terminals
Since the invasion of Ukraine by Russia in 2022, Germany has sought to import liquefied gas to replace Russian gas. The first step was to deploy floating storage units (FSRUs), which receive seaborne LNG. Longer term, it plans shore-based regasification facilities and terminals to import and manufacture ammonia and hydrogen green. Here are the latest updates: MUKRAN Gascade's OAL pipeline connects the terminal on Ruegen Island in Baltic Sea to onshore grids via Gascade. In April, the private operator Deutsche ReGas announced that no regasification slots would be available at Mukran until 2025. They said LNG carriers arrived on a weekly schedule with approximately one terawatt-hour of gas. ReGas had cancelled the Energos Power in February due to its low utilisation. The contract between ReGas, Germany's Economy Ministry and the company for the vessel was officially dissolved on June 16. ReGAs only uses the Norwegian FSRU Neptune of Norwegian operator Hoegh, after saying it was unable to compete with the fees offered by DET (the state-owned Deutsche Energy Terminal GmbH) for cargoes at DET's North Sea terminals. ReGas said that the gas demand would be high ahead of winter next year, citing EU decision to extend requirements for refilling underground storage facilities. ReGas, looking at the long term, has launched a bidding round lasting three months to increase Mukran’s capacity. They are offering 5 bcm extra per year between 2027 and 2043. It plans to restart a second FSRU and restore the full capacity of 13,5 bcm in 2027. LUBMIN ReGas signed a 2024 agreement with Hoegh to convert the Baltic Sea port (a precursor of Mukran) into an ammonia/hydrogen terminal. WILHELMSHAVEN Utility Uniper launched Germany’s first FSRU operations, Wilhelmshaven 1 in the North Sea, 2022. Uniper has plans to build a 200-MW electrolyser that will be powered by local wind energy and a land based ammonia reception terminal. The Excelsior started its operations on May 26 after arriving a month before at the jetty constructed by Tree Energy Solutions. Tree Energy Solutions is a partner with Engie Germany in the project, under DET's supervision. Hanseatic Energy Hub took a final decision in 2024 to invest in a terminal that is ammonia ready and will be located at the Elbe River inland port. The terminal should start operating in 2027. The terminal will cost approximately 1 billion Euros ($1.16 billion). The employment of the FSRU Energos Force has been postponed until further notice. DET and HEH have cancelled their contracts after a dispute over construction schedules and payment was not resolved. BRUNSBUETTEL Brunsbuettel FSRU began operations in 2023 along the North Sea Coast. It was initially chartered by RWE and operated by its trading arm, before being handed over to DET. The facility is a precursor to a land-based Liquefied Natural Gas (LNG) plant that has been approved for 40 million euro of state assistance. The terminal could begin operations by the end of 2026 when an adjacent ammonia facility, which was recently inaugurated, could also be operational. ($1 = 0.8645 euro) (Reporting and editing by Vera Eckert)
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Greece protests Turkey’s maritime zone plan, saying it lacks a legal basis?
Greece protested against a Turkish maritime plan which designated zones in the Aegean sea of the eastern Mediterranean for specific activities. Ankara was accused of trying to claim Greek jurisdiction without any legal basis. This issue could have a negative impact on relations between two NATO allies who are also long-time enemies. They have been at odds for decades over a variety of issues, including maritime boundaries, mineral rights in Aegean sea, and the ethnic divisions in Cyprus. However, both have helped to thaw the tensions in recent times. Plans maritime spatial define the areas where certain activities, such as fishing, sea transportation, tourism, aquaculture, and renewable energy projects, can be carried out. Greece presented a long-awaited maritime space plan to the EU in April. Citing geopolitical concerns in the eastern Mediterranean as well as other factors, the European Commission rebuked Greece for its delay. This week, Turkey published its own academic map by Ankara University after submitting it to the Intergovernmental Oceanographic Commission of UNESCO for approval. The map shows what the map says is Turkey's right to use its seas and surrounding waters for scientific, economic and military purposes. In April, the Turkish government said that the map had been prepared according to the rights, obligations and laws of the European Union and the United Nations Convention on the Law of the Sea. Athens said that its map does not define exclusive economic zones. These are created through bilateral agreements. It stated late Monday that the Turkish plan was not based on international law. The Greek Foreign Ministry said that the letter "attempts to usurp Greek-jurisdiction areas and does not address an international organization which imposes a duty to post relevant maps." The ministry stated that "as such it has no legal effect, and is merely a reflexive response devoid of any content." The EU warned Turkey that it will take "appropriate actions in all international forums" if they do not stop their claims. Ankara has been irritated by a separate Greek plan to create a marine park on the Aegean. It has stated that it will not accept any possible "fait accompli" regarding geographical features with a disputed status. This year, a high-level meeting of Greece and Turkey is expected in Turkey as part of a mechanism established to discuss differences. ? (Reporting and writing by Angeliki Koutantou, editing by Bernadette B. Baum; Tuvan Gumrukcu reported from Athens; Angeliki Koutantou wrote in Ankara)
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The Strait of Hormuz is the world's largest oil artery
Israel launched attacks against Iran on 13 June, claiming that it was the beginning of a long-term operation to stop Tehran from developing an atomic bomb. Iran has threatened in the past to close the Strait of Hormuz to traffic as a retaliation for Western pressure. Experts say that a closure of the Strait of Hormuz could impact on global oil prices and restrict trade. Here are some details on the Strait. The Strait is located between Oman, Iran and the Gulf of Oman. It connects the Gulf of Oman in the north with the Arabian Sea to the south. The shipping lane is only 2 miles (3km) wide either way. Why does it matter? Around a fifth (or 450 million barrels) of all oil consumed in the world passes through this strait. According to Vortexa, between the beginning of 2022 until last month, 17.8 to 20.8 millions barrels of oil, condensate, and fuels were transported through the strait every day. Saudi Arabia, Iran and the United Arab Emirates export the majority of their crude oil via the strait. This is primarily to Asia. Saudi Arabia and the UAE have tried to find alternative routes to bypass this strait. The U.S. Energy Information Administration stated in June of last year that around 2.6 million bpd unused capacity could be used to bypass Hormuz. Qatar, one of the largest LNG exporters in the world, ships almost all its LNG through this strait. Iran has repeatedly threatened to close the Strait, but never done so. Fifth Fleet of the United States, based out of Bahrain, has been tasked to protect commercial shipping in this area. History of Tensions In 1973, Arab producers, led by Saudi Arabia, imposed an oil embargo against Western supporters of Israel during its war with Egypt. OPEC crude is now mainly purchased by Asia, not the West. In the past two decades, the United States has more than doubled the amount of oil liquids it produces. It is now one of the largest oil exporters in the world. In the Tanker War that lasted from 1980-1988, both sides tried to disrupt the other's exports. A U.S. Warship shot down a Iranian airliner in July 1988. Washington claimed it was an accident, while Tehran said that the attack was deliberate. In response to U.S. sanctions and European ones, Iran threatened in January 2012 to close the Strait. In May 2019, four vessels, including two Saudi oil tanks, were attacked near the UAE coast outside the Strait of Hormuz. Two crew members were killed in a July 2021 attack on an Israeli-managed tanker off the coast of Oman. Israel blamed Iran, but Iran denied it. Iran seized three vessels in 2023, one in 2024 and two in 2023, near or in the Strait of Hormuz. Two oil tankers collided on June 17, 2025 and caught fire near the Strait of Hormuz where electronic interference was a major issue during the conflict between Iran & Israel. However, there were no reported injuries or spillages.
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Finland prohibits the use of e-scooters by children and requires rental companies to be licensed
Finland banned the use of electric skateboards by children younger than 15 years old on Tuesday. Scooter rental companies must now obtain municipal licenses in order to continue providing their services. The legislation approved by the parliament on "micromobility" last month is part a larger ramping up on regulations for e-scooters, whose use has increased rapidly in Europe in recent years. Italy, for instance, requires that riders of e Scooters wear helmets and have insurance. Authorities in Paris and Madrid also banned the rental of e Scooters. Lulu Ranne is Finland's Transport and Communications Minister. She said: "This situation has gotten out of control and it needs to be controlled." She added, "I hope we can all enjoy scootering in a safe and legal manner and save lives at the same time." The Finnish authorities estimate around 1,600 serious injuries each year in accidents involving electric scooters. They say that there have been six fatal incidents over the last five years and 600 children were injured in hospital during this time. Traficom, the Finnish transport and communication agency, said that the new law also limits the speed of e-scooters to 25 kph (15,5 mph) and prohibits the use of e-scooters while under the effects of drugs. Renting e-scooters in Finland is possible with Neutron Holding Lime from the U.S., Voi Technology of Sweden, Ryde Technology of Norway, and Tier Mobility, Germany. The licensing requirement was not immediately apparent and how it would impact their operations in Finland. The ministry warned that companies could be fined if they don't respect the new driving age. Parents can also be held responsible for allowing a minor to drive. (Reporting from Anne Kauranen, Helsinki; Editing and proofreading by Joe Bavier.)
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Airbus signs VietJet contract as hope for tariff-free air travel grows at the Air Show
Airbus and VietJet, a budget airline, struck a deal for up to 150 single aisle jets on the second day of the Paris Airshow. The U.S. Transportation Secretary Sean Duffy gave a boost to industry hopes that tariff-free trade would return. Duffy stated that he would like to see the civil aviation return to the 1979 zero-tariff agreement. This is one of the most clear signs to date that the Trump Administration might be in favour of such a move. Duffy said that, while the White House is aware that the U.S. has a large aerospace export market, they are also facing a complicated tariff situation. The 10% tariffs imposed by U.S. president Donald Trump on almost all aircraft and parts imports is a major headache for a sector that already faces supply chain issues and has been hit with new turbulence following the deadly Air India crash last week and the conflict in Middle East. Early in May, the U.S. Commerce Department began an "Section 232", national security investigation, into the imports of commercial airplanes, jet engines, and parts. This could be the basis for higher tariffs. Airline companies, planemakers, and other U.S. trade partners have lobbied Trump to reinstate the tariff-free regime of the Civil Aircraft Agreement from 1979. Airbus announced on the second day of the airshow that it had signed an agreement with VietJet for the purchase of 100 A321neo aircraft, and the option of purchasing up to another 50 in the future. The agreement confirms an earlier report. Cirium Ascend estimates that a deal for 150 A321neos might be worth $9.4 billion. Airbus announced a number of deals at the largest aviation fair in the world. Boeing, the U.S. competitor, is expected to put on a subdued performance as it concentrates on the investigation into the fatal crash last week of an Air India Boeing 787-8 and after it made huge deals during Trump’s recent Middle East tour. Leonardo's Stefano Pontecorvo, the group's chairperson for the defence sector, said that the Italian company had acquired a European cybersecurity firm to enhance its position in a field considered increasingly important by new combat systems. He refused to identify the company and said that the deal will be announced shortly. (Reporting from Joe Brock, Tim Hepher and Giulia Segreti. Mark Potter is the editor.
Ivory Coast cocoa imports are below exporter expectations, says regulator
Yves Brahima Kone said that cocoa arrivals in ports of Ivory Coast, the top producer, reached 1,540 million metric tonnes at the end May. This compares to exporters' estimated 1.624 millions tons for the same time period.
Exporters reported that last month the quality of cocoa was low and buyers refused to buy more beans, resulting in low volume.
Six exporters said that although some trucks carrying poor-quality cocoa were returned by exporters, their beans were still recorded in the records. This explains the 5% discrepancy between the figures supplied by the regulator and those of exporters.
This is a normal situation in the industry. "The same truck can be counted at different exporters in different times of the day.
Four independent buyers of cocoa said that between March and may, the rejection rate rose significantly due to high levels of acidity in beans. This caused trucks to move from one supplier to another.
Malamine Kante explained that he may have to go to three different exporters before he finds one who is willing accept his cocoa. He gets the beans from Soubre, a region in the west of the country.
The cocoa industry is concerned that West Africa could suffer a third consecutive decline in production.
Kone acknowledged that the poor initial data was a real concern for the main cocoa crop in 2025/26.
He added that the success of the crop will depend on the survival rates of the cocoa flowers and young pods, known as cherelles, which are beginning to appear in fields.
In order to develop until October and December, they will need to survive July.
An Abidjan exporter said, "For now, everyone is watching to see what happens from now until mid-July". "The concern is real but not alarming yet".
(source: Reuters)