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Emirates could order Airbus A350-2000 wide-body jets
Tim Clark, Emirates' president, said that the airline would consider ordering a bigger version of the A350 if Airbus?moved forward with a new wide-body model. He reiterated calls for manufacturers and aircraft makers to make larger planes. Airbus announced in November that it was studying a so-called A350 2000 after Boeing agreed to examine a larger version its largest aircraft in production, the 777X as part of an agreement to secure?65 in new orders for the delayed plane. A larger A350 could potentially overtake the A350-1000 – currently the largest model Airbus’ portfolio – which Emirates has refused to purchase due to?concerns regarding the durability of its engine in harsh Gulf operating environments. "We would certainly consider it." Clark replied in an interview with?Dubai that he would "absolutely" look into a potential A350-2000. Emirates bought the A350-900, the long-haul version, but not its larger A350-1000 model that competes with Boeing 777X. Emirates is Boeing 777X's largest customer. The A350-900 aircraft is a stunning airplane. The engines work really well for us. Clark told the World Governments Summit that dispatch reliability was great. "Everyone loves the way we have configured it," Clark added. Rolls-Royce is the engine manufacturer for the A350 Series. A senior executive of the British engine manufacturer said this week that it was "on target" with its programme to improve the durability of the engines for the A350-1100. Rolls says that the improvements have already resulted in 60% more time between overhauls. More is expected by 2028. Emirates, the largest wide-body jet buyer in the world, wants to see progress made in extending the time between maintenance visits prior to purchasing the A350-1000. Airbus hasn't revealed how far the company has advanced in its discussions regarding a third possible model, the A350-2000. (Tim Hepher contributed additional reporting from Singapore. Editing by Hugh Lawson and Louise Heavens. Alexander Smith)
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DSV aims to lower freight rates but faces port pressures with the return of Red Sea routes
DSV, world's biggest freight forwarder, stated on Wednesday that the return of transit via the Red Sea would push down freight rates but also increase pressure on ports. Shipping companies are considering a return to a 'critical Asia-Europe trade route after vessels were rerouted in 2023 around Africa following attacks by?Yemeni Houthis on the Red Sea. Michael Ebbe, Chief Financial Officer of the company, said in an investor call that reducing transit times by a significant amount would free up capacity. He said that the resulting pressure would be felt on freight rates. Ebbe said that it is yet to be determined if all carriers will start rerouting again. Maersk, the shipping group, announced on Tuesday that it will resume certain transit routes through Red Sea and Suez Canal in this month as part of its shared services network. By the end of 2026, SCHENKER integration is expected to be finalized. DSV expects that global air and ocean freight volumes will increase by 2%-3% in this year. This is on par with global GDP forecasts or slightly below them. The company reported a fourth-quarter operating loss before special items in the amount of 5.59 billion Danish crowns (US$884.38m), which is just below analysts' average estimates of 5.64 billion crowns, according to a poll conducted by the company. It projected a full-year profit before special items between?23 billion and 25.5 billion crowns, and proposed a?2025 dividend of 7 crowns per shares. DSV has now stated that it expects to complete the integration with its German rival DB Schenker before the end of the year. It was previously expecting the integration to last until the end 2028. DSV shares were up by 1.8% as of 1133 GMT. They had fallen as much as 3.3% in the previous hours.
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Vietjet and Pratt & Whitney sign deal for 44 engines that will power Airbus jets
The Vietnamese budget airline Vietjet entered into a 'contract with Pratt & Whitney (a subsidiary of RTX) to?supply GTF engine for 44 Airbus planes, bringing its total GTF powered fleet orders to 137. The deal was announced at the Singapore Airshow and includes 24 A321neo planes and 20 'A321XLR aircraft. Deliveries will begin in July. In a joint press release, the companies said that it also included a 12-year maintenance agreement. The financial terms of the transaction were not disclosed. Vietjet has deployed its first A321neo aircraft in 2018. It currently operates 42 GTF-powered aircraft, and plans to equip the engines on 93 jets. The airline has placed an order of 100 'Airbus A321neo Jets last year, increasing its fleet. Pratt and Whitney competes with CFM International for the supply of engines for A321neo planes and A321XLR aircraft. Reporting by Phuong nguyen. Mark Potter (Editing)
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Maguire: Indonesia's coal-export ban will shake up Asia's energy mix.
Utilities in Asia are scrambling for a solution to a possible shortage of critical coal after Indonesia, the world's top coal producer, halted exports to protest government plans to limit production. A coal miner in Indonesia said that long-term contracts will be kept, but spot shipments are "limited" until a decision on government quotas is finalized. The official warned that even long-term contracts could be at risk due to unforeseen circumstances. Indonesia exported half of global thermal coal in 2025 and was the largest coal supplier for many of the world’s biggest coal importers, including China, India and the Philippines. Indonesia's government has proposed production cuts and quotas to increase export prices and revenue. Indonesian mining companies have also threatened to lay off workers and close mines in response to any forced production cuts. This has pushed the government to find a compromise to avoid a complete shutdown of mining and exports. The authorities have shown that they are willing to be tough with the mining industry before. In 2022, coal exports were briefly suspended due to a lack of coal at local power stations. The suspension of coal exports triggered a sharp rise in global coal prices. Benchmark futures for Asian seaborne thermal coke have already risen 9%, reaching their highest level in more than a year. As key importers try to secure replacement supplies from other exporters or trading houses, further price increases in the global coal markets are likely. WIDE SPAN Kpler data shows that 16 different countries imported at least 1 million metric tonnes of Indonesian thermal coke by 2025. This group of countries includes the top coal-consuming nations in the world, from Brunei and China to other nearby countries. Some countries, such as China and India, are more reliant than others on Indonesian coal supplies. Several Southeast Asia and South Asia countries are dependent almost exclusively on coal imports and use coal to generate electricity. Additionally, any sustained decline in Indonesian coal volumes on the global markets will have far reaching impacts as Asian utilities, which depend on coal to produce over half their electricity, are already under pressure from regional heating demand. In a Pinch Philippines, Bangladesh and Vietnam, as well as Malaysia, are the most likely to be affected by the Indonesian coal disruption. According to Kpler, the Philippines will be the largest importer of Indonesian coal by 2025, securing 98% of their total coal imports. Data from the energy think tank Ember show that coal was the leading source of electricity for the Philippines last year. It accounted around 57% of the utility's electricity output. In Indonesia, Bangladesh imported more than 90% of its coal last year. The coal share in Bangladesh's electricity mix reached record levels last year. Malaysia and Vietnam will import more than half their annual coal from Indonesia by 2025. They also depend on coal to provide 40% or more their electricity needs. FARTHER AFIELD Due to the configuration of coastal power stations, any prolonged stoppage in Indonesian coal exports would have an impact on markets that are less dependent on imports such as China and India. Many of the major coal-fired plants in China or India are located near major bulk commodities import ports. They therefore source their coal primarily from international suppliers, rather than the domestic market. If the international coal market rallies, these power plants will be able to source more coal on the domestic market. However, they may incur higher transport costs because trucks and rail systems would replace bulk vessel deliveries. This means that, even though the Philippines and Bangladesh are likely to be the first utilities to react to Indonesia's export ban, all coal plants will be affected as the markets begin to price in volume reductions from the world's largest supplier. These are the opinions of a columnist who writes for. You like this article? Check it out Open Interest Follow ROI on Twitter for the latest global financial news. Follow ROI on You can find us on LinkedIn. Listen to the song Morning Bid daily podcast Spotify Or the . Subscribe to the podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
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ZTO Express to issue convertible bonds worth $1.5 billion, according to a term sheet
According to a termsheet seen by?on Wednesday, the Chinese delivery company ZTO Express Inc (Cayman) is raising $1.5billion through an offering of senior unsecured convertible bonds that will mature in 2031. The term sheet indicated that the notes were offered with a coupon between 0.55% to 1.05%. Semi-annual interest payments are made on March 1st and September 1st. The shares are expected to be issued par and will subsequently?be converted into ZTO's Hong Kong listed shares at a conversion premium of 35-40% based on the closing share price for Wednesday. The sheet stated that the notes were due to mature on "March 1, 2031" and included a holder's put option at 100% of principal plus accrued interests on March 1, 2020. ZTO stated that it plans to use the net proceeds for refinancing and funding near-term share purchases,?funding a concurrent share purchase and premiums for capped call transactions as well as?general corporate purpose. The filing stated that the simultaneous repurchase would be made under the existing share purchase programme of the company through June 30, this year. The term sheet stated that the capped call was intended to reduce any?potential dilution from conversion. Citi and Goldman Sachs have a joint global coordination, joint lead management and joint bookrunners.
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Lufthansa, Germany's national airline, celebrates its 100th anniversary by examining Nazi past
In celebration of its 100th anniversary, Lufthansa, Germany's national airline, is reappraising the past to take a?greater level of responsibility for its actions in Nazi Germany, breaking with earlier attempts to separate their pre- and post-war identity. Carsten Spohr, CEO of Lufthansa, told journalists that the airline was proud of its current status in a statement released on Wednesday. "To ignore the dark, difficult years would have simply been dishonest." Even the decision to celebrate 100 years since the founding of the first "Deutsche Luft Hansa", reflects a change. The company has long stressed the legal and organizational break between the predecessor, which was integrated deeply into the Nazi regime in 1946 and closed down. As the state airline, Lufthansa carried government officials. Lufthansa played a part in the Luftwaffe and the arms industry. In 1944, more than two thirds of the total revenue came from the armaments industry. STEPS IN A NEW DIRECTION The board emphasized the separation of legal entities primarily for reasons of "reputation" and "liability". Spohr stated that Lufthansa wants to assume responsibility. A new book about the history of the company will be given to its 100,000+ employees along with an exhibition at the new visitor's centre. Lufthansa conducted research on its past over 25 years ago but refused to acknowledge the findings regarding its use of forced labor and personnel continuity following World War Two. Manfred Grieger (an historian who contributed to the book) says that more than 12000 people were exploited by Hansa in its arms production, repair and maintenance operations. Only recently has it been revealed that children were included in the total. Ilona wissenbach is the reporter. Miranda Murray is the writer. Mark Potter (editing by Miranda Murray)
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Securitas in Sweden, which is largely protected from the trade war, exceeded profit expectations for Q4
Securitas of Sweden, one of the largest security service providers in the world, reported Wednesday that it had exceeded its target operating margin of 8% for the second half of this year. Magnus Ahlqvist, the CEO of the company, said that its results in 2025 were largely unaffected due to geopolitical instability and?shifts? in global trade thanks to an operating model that relies primarily on services delivered locally. "Performance across all segments was strong," he said. He added that a?6% increase in sales for its technology solutions business supported?unit?s continued shift to higher-margin?services. Securitas'operating earnings before amortization (EBITA ) rose to 3,06 billion Swedish crowns (344,4 million dollars) in the fourth-quarter. This was higher than analysts' average expectations of 3.02 billion Swedish crowns. Operating margin increased to 8% from 7.3% in the previous quarter. The growth was backed by a broad range of?improvements. North America posted a margin of 10% for the first ever time in the company's history, and Europe delivered another quarter above 8%. Securitas generates 40% of its revenue in North America. However, the tariffs imposed by Donald Trump on imports would not affect much of it, since most of its business is driven by staff. The company recently completed its business optimization?programme, targeting annual savings of 200 million crowns, and said that it expects to complete the majority of its European?security service contracts in the first half 2026. RBC analysts wrote in a note for investors that Securitas would enter 2026 with a "cleaner" operation, higher margins, and fewer disruptions.
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Storm Leo pounding Iberian Peninsula torrential rainfall
Spanish and Portuguese authorities prepared for Storm Leo on Wednesday, suspending some classes and warning against travel, only one week after the deadly Storm Kristin caused havoc in the Iberian Peninsula. The Spanish state weather agency AEMET predicted that the storm could bring rainfall in some areas of southern Sierra Grazalema equivalent to a year's worth of rain. Authorities are worried about a heightened flood risk as the ground is still saturated after the storms and heavy rains of last month. Environment Ministry: Spain recorded 119.3?mm of rain in January, which is 85% more than the average for 1992-2020. This makes it the second wettest January in the 21st century. Regional leader Juanma Moreno warned that the public safety alert could rapidly escalate to the highest level of red alert as the storm evolves. Classes in person were suspended throughout the region except for Almeria. The Spanish Military Emergency Unit (MEU) was alerted to respond quickly, including the rescue of victims of floods, stabilisation of areas prone to landslides, and monitoring of mining tailings pools at risk of spilling over. The day centres for the elderly, disabled and those with special needs have closed. Local governments have also been advised to cancel outdoor sporting activities in the affected areas. Approximately 3,000 people were evacuated from flood-prone areas. Grazalema is a high-risk region, as are Campo de Gibraltar and Ronda. Residents in these areas received alerts via mobile phone about the possibility of heavy rain. Moreno stated that emergency personnel along with two helicopters and two aircraft have been deployed to monitor flood-prone areas and provide real-time information. Portugal's national Civil Protection Service has raised its preparedness level to the highest possible level after its commander warned that a "very complicated" weather situation was ahead. As the weather was expected to worsen over the course of the week, the Portuguese military deployed up to 3,000 troops and 42 inflatable boats along with marine teams to flood-prone areas of the country's main rivers. (Reporting from David Latona and Emma Pinedo in Madrid; Sergio Goncalves, in Lisbon; editing by Sharon)
China warns Panama that it will pay a hefty price after the CK Hutchison deal was quashed
China warned Panama that it would pay "heavy" prices if a court decision in Panama annulled the contract of Hong Kong's CK Hutchison to operate?two port at the Panama Canal.
China's Hong Kong & Macau?Affairs Office branded the ruling of Panama's Supreme Court as "absurd", "shameful, and pathetic" and vowed that it would defend the interests Chinese firms.
The Panamanian authorities didn't immediately respond to our request for comment.
The court's ruling last week invalidated a contract held by Panama Ports Company (a CK Hutchison subordinate) since the 1990s to operate container terminals on the Pacific and Atlantic entrances of the canal.
The decision was viewed as a victory for Washington, given the intensifying rivalry between China and the United States over?the control over global trade routes.
The decision threatens to disrupt a proposed $23 billion sale by the Hong Kong conglomerate of 43 ports across 23 countries. This includes the two Panama Canal ports, to a consortium headed by BlackRock and the Mediterranean Shipping Company.
The Hong Kong and Macau Affairs Office posted on social media that the ruling "ignored the facts, breached confidence, and severely damaged the legitimate rights of enterprises in Hong Kong, China."
The office stated that "China has the necessary tools and means, as well as sufficient strength and capability to defend an international economic and trading order that is fair and just."
If the Panamanian authorities "insist that they have their way"... heavy political and economic costs will be paid! It added.
Authorities in the United States welcomed the court's decision. John Moolenaar of the U.S. House Select Committee on China called it a?win?for America.
The Chinese office did not name the U.S., but said that "some country" had used "bullying tactics" to force other countries to obey their will and that Panama "willingly submitted" to hegemonic power.
Donald Trump, the U.S. president, who had initially praised the proposed $23 billion ports sale, now wants the U.S. "to take back" the canal in response to Chinese influence.
CK Hutchison subsidiary said last week that the ruling was in conflict with the legal framework which had allowed them to operate the port. (Reporting and editing by Louise Heavens; Andrew Heavens; Nick Zieminski; Elida Moreno, Panama City).
(source: Reuters)