Latest News
-
As the Middle East conflict escalates, airlines cancel more flights
The global air travel industry is still severely affected by the Iran war, which forced the closures of key Middle Eastern hubs such as Dubai, Doha, and Abu Dhabi. This left tens thousands of passengers stranded. The following is the latest information on flights in alphabetical order. AEGEAN AIRLINES The largest airline in Greece has cancelled flights to Tel Aviv and Baghdad. Dubai flights are cancelled until the 28th of March and Riyadh flights until March 14. AIR BALTIC AirBaltic, a Latvian airline, said that 'all' flights to Tel Aviv were cancelled until the 28th of March. All flights to Dubai are cancelled until March 30, according to airBaltic. AIR CANADA The Canadian carrier has cancelled all flights from Tel Aviv to Dubai and all flights from Dubai to Tel Aviv, until May 2. AIR EUROPA All flights from Spain to Tel Aviv have been cancelled until March 20. AIR FRANCE KLM Air France has cancelled all flights from Dubai to Riyadh and Dubai to Tel Aviv until March 15. KLM has suspended flights from Riyadh to Dammam until March 14 and Dubai flights up to March 28. Flights to Tel Aviv have been suspended throughout the winter season. CATHAY PACIFIC Hong Kong Airlines has cancelled all flights from and to Dubai, and to and Riyadh up until March 31, 2019. U.S. carriers has cancelled flights between New York and Tel Aviv from March 31 to April 1 and Tel Aviv to New York from March 31 to April 1. EL AL ISRAEL AIRLINES El?AL has cancelled all regular flights until March 14th. EMIRATES The UAE airline announced that it would be operating a reduced schedule. ETIHAD AERWAYS The UAE carrier announced that it has resumed limited commercial flights between Abu Dhabi, and a number of key destinations. FINNAIR The Finnish airline has cancelled Doha flights and Dubai flights up until March 29, and will avoid the airspaces of Iraq, Iran and Syria. The airline is sending at least one flight to Muscat to take customers back home on March 10. More flights are planned for later this week. British Airways, owned by IAG, has cancelled all flights from Abu Dhabi to Amman until the end of this year, and all flights from Doha to Dubai, Doha to Amman and Tel Aviv to later in March. ITA AIRWAYS ITA Airways has extended the cancellation of flights to Dubai until March 28 and suspended flights from Tel Aviv till April 2. JAPAN AIRLINES Japan Airlines has suspended all flights between Tokyo and Doha scheduled to run from 28 February until 21 March, as well as Doha-Tokyo flights up to 22 March. Polish airline LOT has cancelled all flights from Tel Aviv to Tel Aviv and Dubai until March 28. LOT? also cancelled flights to Riyadh and Beirut until March 24, as well as to Tel Aviv from March 31 toApril 30. LUFTHANSA GROUP German airlines, including Lufthansa and Austrian Airlines as well as Swiss, Brussels Airlines and Swiss Airlines, have suspended flights from Tel Aviv to Beirut, Dubai and Dubai until March 28. Flights were suspended to?Tehran until April 30, and to Amman Erbil Dammam Abu Dhabi and Amman Erbil Dammam through March 15. MALAYSIA AIRLINES Malaysian Airlines has suspended all flights to Doha until 20 March. NORWEGIAN AIR The Norwegian airline will begin flying to Tel Aviv from June 15 instead of April 1, and to Beirut on April 4, as previously planned. PEGASUS Pegasus Airlines has cancelled all Iran flights until 28 March. Until March 23, flights to Iraq, Amman, Beirut Kuwait, Bahrain Doha, Dammam Dubai Abu Dhabi and Sharjah have been cancelled. QATAR AIRWAYS The airline operates a limited flight schedule between Doha and other destinations. It plans to start operating some flights on March 9 following a temporary authorization from the Qatar Civil Aviation Authority. SAUDIA AIRLINES Saudi Arabian Airlines suspended flights to Amman, Kuwait and Abu Dhabi until 12 March, and flights to Moscow and Peshawar until 16 March. TURKISH AIRLINES Turkish Airlines has removed Iran flights until March 12 from its program, the Turkish transport minister announced. The Turkish transport minister added that Turkish Airlines had cancelled all flights to Iraq and Syria, Lebanon, Jordan, until March 13. WIZZ AIR The low-cost carrier suspended flights from Europe to Israel and other destinations in the Middle East until September. (Compiled by Josephine Mason and Jamie Freed; edited by Matt Scuffham, Milla Nissi, and Romolo tosiani)
-
Operator claims that a tanker was attacked during a transfer in Iraqi waters.
Zefyros's manager in Greece confirmed that the tanker was struck by a missile overnight during a ship-to -ship transfer. Benetech Shipping SA reported that the incident took place at Iraq's Umm Qasar Anchorage late Wednesday during a transfer of fuel cargo with the Safesea Vishnu Tanker. All 23 crew members have been accounted for and are safe. The 23 crew members were evacuated and brought to land, according to a statement. SOMO reported that the Safesea Vishnu had been chartered by a company in Iraq contracted with State Organization for the Marketing of Oil. The Zefyros, meanwhile, was loaded with products from Basra Gas Company, and was located at a ship to ship loading area?in Iraqi water. In the Gulf, at least 16 vessels including tankers have been attacked during the U.S.-Israeli conflict with Iran. Hundreds more have also dropped anchor after Tehran threatened to attack nearby shipping. Sources claim that explosive-laden Iranian boats attacked two oil tankers on Wednesday in Iraqi waters, setting the vessels ablaze and killing a crew member. Joe Kramek said that around 20,000 seafarers on vessels operating in this region are facing "a highly uncertain and dangerous security situation". Seafarers may not be involved in the conflict but they are increasingly "caught" by its path. The Thai foreign ministry has said that it conveyed "its strongest protest" to the Iranian ambassador after two projectiles from an unknown source struck a Thai-flagged dry bulk vessel, Mayuree Naree on Wednesday. This caused a fire as well as damage to?the engine rooms. The ministry reported that the Iranian ambassador offered condolences, and he promised to convey Thailand's protests to Tehran. Hapag-Lloyd, a German shipping company, said that on Thursday projectile fragments struck container vessel "Source Blessing" near the Strait of Hormuz at the southern tip of Gulf near Iran. The ship was not directly struck, but caught fire, it said. It said that all crew members were safe. Reporting by Jonathan Saul and Renee Maltezou; editing by Jason Neely.
-
Diplomats claim that the EU will relax gas authorization rules to ensure LNG supplies.
Diplomats said that the European Commission would instruct governments to be "flexible" in their enforcement of EU rules regarding gas imports. This is because they are concerned about 'holding up' liquefied natgas deliveries, which will help stabilise supplies during the Iran crisis. Diplomats say that the Commission will issue guidance on how to implement rules in the European Union law to phase-out Russian gas before March 18. Brussels is attempting to prevent its Russia phaseout regulations from accidentally choking Europe’s gas supply during a time of vulnerability. The EU's phaseout of Russian gas would not be affected. The Iran conflict is causing global LNG flows to be disrupted and increasing the risk of cargo diverts. EU officials are concerned that strict enforcement will 'delay or strand' shipments and undermine the ability of the EU to maintain adequate storage and ensure energy security heading into winter. Companies must submit proof of origin of LNG five days prior to its arrival in the EU. Azerbaijan would be the main country affected by a softerening of "prior authorization" rules, as it supplied 4% of EU imports last year. The EU has already stated that its main gas exporters, such as Norway and the U.S. will not be subject to the "prior authorisation" rules, since they deem the risk of Russian Gas entering their exports low. The European gas industry has already asked Brussels to suspend temporarily the rules regarding prior authorization. Eurogas, an industry group, said that it could not allow a single flexible LNG cargo to be delayed at sea or in port, or to be rerouted towards Asia, because the prior authorisation was unclear or pending. (Reporting and additional reporting by Julia Payne, Editing by Jan Harvey).
-
Ecolab will impose a global energy surcharge in response to the rising costs of oil and gas
Ecolab, a water'solutions company, announced on Thursday that it would introduce a 10% to 14% "energy surcharge" to its products and services as the Middle East conflict has driven up manufacturing and logistic costs. The surcharge emphasizes the disruption caused by energy?price fluctuations as the Middle East war?disrupts supply and restricts transport routes. This is especially true for the Strait of Hormuz. On?Thursday, oil prices rose back to $100 per barrel. Ecolab CEO Christophe Beck said that the recent dramatic increase in energy costs requires this surcharge. The company said that the?surcharge would be closely monitored and could be adjusted as market conditions change. Ecolab announced last year that it would impose a 5% surcharge on its products and services sold in the U.S. in order to offset 'rising raw materials costs due to changes in trade policies.
-
US energy chief: Oil unlikely to reach $200 per barrel
U.S. Energy Secretary Chris Wright stated on Thursday that global oil prices are unlikely to reach $200 per barrel, even though?crude?tankers remain stalled in Strait of Hormuz while the U.S.-Israeli war against Iran has widened. Wright said that he thought it unlikely but was focused on the military operations and the solution of the problem when asked if oil prices would hit $200 per barrel. This is a price level which could be reached if the war escalates, according to an Iranian official on Wednesday. The spokesperson for Tehran's Khatam al-Anbiya Military Command HQ, Ebrahim Zolfaqari said, "Get ready for oil barrels to be $200 because oil prices depend on regional security, which you have destabilized." Oil prices rose 6% on Thursday to almost $100 after two tankers caught fire in an Iraqi harbor following a suspected Iranian attack by explosive-laden boats. The increase came despite the fact that more than 30 countries from the International Energy Agency announced a day before the largest-ever coordinated withdrawal of?global oi l reserves of 400 millions barrels. About 40% of this will be coming from the U.S. as the world's biggest?oil producers. The Middle East Gulf states have been forced to cut their total oil production by 10 million barrels a day. This is about 10% of the world's demand. The IEA'said Thursday that this is the largest oil supply 'disruption ever experienced by the global market. Wright told CNBC Thursday that the U.S. Navy could not escort vessels?through Strait of Hormuz? at the moment, but that it was "quite probable" that this would happen by the end of next month.
-
Senators from both parties agree that the US needs to fix its anti-drone system.
The top Democrat of the U.S. Senate Commerce Committee stated on Thursday that recent incidents involving a 'laser-based system to combat drones in Texas, put 'the flying public at risk. Government agencies must address these serious issues. In a letter to the Pentagon and the Department of Homeland Security, Senator Maria Cantwell said that "These incidents exposed serious process failures which expose the flying public in unacceptable safety risks". She added, "It is unacceptable that this system has been deployed without adequate coordination between FAA and the law." U.S. Military accidentally shot down a government-owned drone on?February 25 with a laser anti-drones system, leading to the FAA expanding an area around Fort Hancock in Texas where flights are prohibited. The incident occurred after the FAA had halted all flights at the El Paso airport for 10 days on?February 18, an order that was lifted within eight hours. Cantwell said that the 2026 FIFA World Cup as well as the 2028 Los Angeles Olympics could face drone threats. She added that each U.S. Government agency with "counter-drone" responsibilities must be ready to act quickly in the face any such threat, without jeopardizing the aviation safety. She also said that she would like to receive a briefing by the agencies on March 25, detailing the steps they will take to ensure coordination and how the?counter-drone effort would be implemented in the state and local level. She said: "We need leaders?at each of your agencies to allocate resources and attention without delay to fix these coordination issues before a tragedy can happen." The Pentagon and FAA didn't immediately respond to the letter, but they did say a week ago that they were planning to test high energy lasers to counter drones in order to address FAA safety concerns. Steve Bradbury, the U.S. Deputy Secretary of Transportation, said that better coordination is needed. He told? He told? (Reporting and editing by Sharon Singleton, Pooja Deai and David Shepardson)
-
Consultancy says that the exports of iron ore from Ukraine have fallen by 41% in 2026.
Analysts at GMK Center - Consultancy reported on Thursday that the?exports of iron ore from Ukraine in January and February fell by nearly?41% compared to last year, totaling 3.3 million metric??tons. GMK Center expects Ukraine's exports of iron ore to decline by 5% in this year, to 29 million tons. After grain, iron ore is the second-largest export of Ukraine. GMK stated in a'report' that the decline of exports is likely primarily attributed to internal production constraints versus external market conditions. GMK Center stated that the main cause of the shutdowns was the disruptions in power supply following the attacks on the grid. This caused the mining and processing facilities to be unable to operate, resulting in temporary closures and production limitations. Russia has increased its strikes against Ukrainian energy infrastructure and'seaports', causing widespread blackouts in entire regions. The annual exports of iron ore from Ukraine will fall by?8% to almost 31 million tonnes in 2025. The majority of the iron ore exported by Ukraine is to China. (Reporting and editing by Tomaszjanowski)
-
Webuild's revenue guidance disappoints, shares down
Webuild, Italy's largest building company, reported a 18% increase in its core profit for 2025. However disappointing revenue guidance for 2026 caused the stock to drop as much as 10%. The company reported that its core profit (EBITDA), which is the amount of money it will earn in 2025, would be 1.16 billion euro ($1.34 billion). The company's adjusted full-year net?profit grew 13% to 280 millions euros. Revenue grew?15%, to 13.6 billion euro. In a conference call with analysts after the results, Pietro Salini said: "We do not give precise targets for 2026. Not because we see risks but because I think it would be unprofessional. Analyst Matteo Bonizzoni of brokerage Kepler Cheuvreux said that the company's shares have fallen to their lowest level since the end 2024, dragged down by "vague" guidance for 2026 revenue in line with this year. The analyst added that the exposure of the company to the Middle East was "not beneficial". BUSINESS IS RUNNING AS USUAL IN THE MIDDLE-EAST Webuild confirmed its Middle East activities were proceeding normally, and that both its group?and its subcontractor personnel are safe. Webuild has proposed a dividend per share of 0.08 euros, and?0.26 per saving shares. Its 2025 order backlog stood at 58.4 billion euros.
Iranian oil continues to flow through the Strait of Hormuz, even as Gulf neighboring countries' exports are shut
A review of tanker tracking data revealed that Iranian crude oil continued to flow at a near normal pace through the Strait of Hormuz, even though?attacks on ships by the government of Iran in the narrow waterway?have decimated the exports of other Gulf countries. According to an analysis by TankerTrackers.com a maritime intelligence firm that specializes tracking shadow fleets, a network used to transport oil from countries under Western sanctions, Iran has exported 13.7 million barrels since Israel and the U.S. attacked the country on 28 February.
Kpler, a vessel tracking service, estimated Iranian exports for the first 11 days in March at 16.5 million barrels. Iran's retaliation against the Israeli and U.S. attack has included attacks on energy infrastructure in the Middle East and ships in the Strait?of Hormuz, bringing non Iranian vessel transits into the main gateway of Middle Eastern oil imports to a standstill. This forced producers in the region to reduce output. Iran's ability continue to export oil without being intercepted contrasts starkly with the U.S.military Campaign in Venezuela which included a naval blockade and seizure of vessels trying to enter or leave Venezuelan waters. David Tannenbaum is a director with Blackstone Compliance Services. He said that he was surprised by the U.S.'s failure to launch a similar campaign before starting this conflict.
Matias Togni, an analyst at Next?Barrel Oil and Shipping, said that U.S. efforts against Iranian-linked tankers may lead to more attacks on vessels crossing the Strait of Hormuz.
James Lightbourn is the founder and shipping financier of Cavalier Ship, a maritime investment and advisory firm.
Lightbourn stated that if the U.S. seizes tankers it would be less of a loss to Iran if the strait was closed completely (such as by using mines).
The White House of U.S. president Donald Trump did not respond immediately to a question about whether Washington intends to take any action against Iranian oil exports.
IRANIAN EXPORTS SIMILAR TO LAST YEAR'S PACE
TankerTracker.com data and Kpler data show that Iran's crude exports ranged between 1.1 and 1.5 million barrels of oil per day from February 28 to March 11, according to the two sources. Kpler data shows that the country exported 1.69 million barrels per day on average last year. In the coming days, it is possible that the pace will increase. According to satellite images reviewed by TankerTrackers.com, multiple very large crude carriers - the largest oil vessels currently in service - are still loading oil on Iran's Kharg Island, export hub.
Kpler data shows that Iran increased its exports in anticipation of Israeli and US military action before the 28th February strikes. Data showed that Iran exported a record amount of oil - 3.79 million barrels per day - in the week ending February 16. According to an analysis by Kpler & Lloyd's List Intelligence, six crude oil tankers left Iran between February 28 and March 1, including the U.S. sanctioned vessel Cuma which sailed last week. According to earlier reports, two liquefied gas tankers also subject to U.S. sanctioned sailed from Iran on Friday after loading their cargoes. A separate analysis revealed that at least 11 million barrels of crude oil were shipped out from Iran. Four supertankers, which left Iran with 8 million barrels, arrived in the waters near Singapore.
The vessels are sailing in the same pattern within Iran's exclusive zone economic, which extends to up to 24 nautical miles beyond the local territorial limit of 12 nautical mile.
Shipping sources say that this is seen as a way to protect the vessels by keeping them in Iranian waters. Reporting by Shariq KHan in New York, Jonathan Saul, Enes Tunagur and Arathy SOMASEKHAR in Houston, with editing by David Gregorio.
(source: Reuters)