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NextDecade sees Middle East conflict boosting long-term LNG ship charters
Peter Fitzpatrick, NextDecade Shipping Vice President and speaker at an event held in Houston on Wednesday, said that the ongoing conflict in the Middle East will cause more companies to hire LNG ships on long-term contracts as opposed to the spot market. Fitzpatrick stated that the LNG industry was comfortable hiring ships on the spot markets when there were oversupplies of the fuel. Very few "long-term" deals were made in 2024 or 2025. Fitzpatrick said that the market is adapting to increased volatility, as it is becoming aware of its existence. "The geopolitical crises will have a long-term effect on shipping, as we'll see more long-term contracts where you can manage your own risks and not just rely on the spot markets," said Fitzpatrick at the Global LNG Forum hosted by Lloyd's Register. The difficulty in determining when the equipment would be available will hinder the ability of U.S. developers to make investment decisions. Fitzpatrick said on the'sidelines of the conference that it was difficult to obtain gas turbines because of the number of data centers and LNG expansion being built. He added that European resistance to long term purchases is also making FID difficult for some U.S. developers. Patrice 'Brossard, general manager of Gaztransport & Technigaz North America, said that the industry was on track to build up to 100 carriers a year. The new ships can carry up to 15% more cargo than the current tankers. The United States is already the largest LNG exporter in the world. Its capacity to export LNG will double by 2030. NextDecade will build a 30,000,000 metric ton export facility in Brownsville. Curtis Williams, Houston Reporter; Nathan Crooks and Kirsty Donovan, Editors
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What is the hantavirus which killed three passengers on a cruise ship?
The World Health Organization says the threat to the public's health is low. What has happened on the cruise ship? The WHO announced on Wednesday that eight hantavirus cases, including three deaths, were linked to the MV Hondius cruise ship. Oceanwide Expeditions, the vessel operator, reported that three people were evacuated on Wednesday. Two of them were'seriously' ill. One patient is still in intensive care in South Africa. A man who was a passenger aboard the ship and returned to Switzerland for treatment in Zurich. Nearly 150 people are still aboard the ship that has been marooned in Cape Verde waters since Sunday. It is expected to depart for Spain's Canary Islands on Wednesday. All passengers who do not show symptoms, currently those on board the ship, will be allowed to disembark once they reach the Canary Islands. Spain announced that the 14 Spanish passengers who were quarantined would be in a military clinic, and all other passengers would be returned to their home countries for quarantine. What is a Hantavirus? Hantaviruses can cause disease in humans and are transmitted by rodents. The WHO estimates that there are between 10,000 and 100,000 cases of human infection worldwide each year. Severity varies by strain. The Andes hantavirus is typically found in Argentina and Chile. The Hondius left Argentine on April 1st. How is the virus spread? Hantavirus is mainly spread by rodents. People are infected when they come into contact with their urine, feces, or saliva. It is spread less commonly through contaminated surfaces. Andes is the only hantavirus known to spread via prolonged, close human-to-human contacts. The WHO stated on Wednesday that it was not aware of any changes to the virus which could have made it more transmissible this way. However, it believes some human-tohuman transmission has occurred on the Hondius. Studies show that the virus is more likely to spread in the early stages when a patient has symptoms. Maria Van Kerkhove (Director of Epidemic and Pandemic management, WHO) said in an interview Wednesday that close contacts meant sharing a bunk room or a cabin on the ship. She explained that experts are working to determine which passengers are high-risk and low-risk based on the contact they have with sick passengers. What are the symptoms of infection? Hantaviruses are found in many parts of the globe. They cause different symptoms and diseases. Some even do not. According to the WHO symptoms can appear one to eight week after exposure. These include muscle aches, fever and digestive issues. The?Andes Hantavirus, as well as other hantaviruses found in the Americas, can cause hantavirus pulmonary syndrome. This condition progresses rapidly and causes fluid accumulation in the lungs and heart complications. WHO reports that hantavirus cardiopulmonary syndrome can cause up to 50% mortality, as opposed to the 1-15% of infections in Asia and Europe. Can HANTAVIRUS infection be treated? Since there is no specific treatment, the current approach focuses on supportive measures, such as rest and fluids. Some patients may require breathing assistance, such as a ventilator. The prevention of rodents is based on measures such as keeping surfaces and areas clean. During an outbreak, "contact tracing" can provide earlier hospitalization for those who may have been exposed to the virus, thus improving outcomes and preventing spread. WHAT ARE THE RISE RISKS FOR THE GENERAL PUBLIC Experts said that the cruise ship outbreak was unusual. However, disease outbreaks such as influenza are more common in ships because of the close proximity of people on board. Experts from the WHO and other countries are investigating the current outbreak, but the U.N. agency for health says that the risk to public health is low. Pollard explained that by knowing the virus responsible for the outbreak, public health protocols could be used on board the ship (such as containment and isolate) and in the countries where returning passengers were present. The WHO has warned that hantaviruses will continue to spread worldwide.
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US airline jet fuel prices jumped by $1.8 billion (56%) in March
The U.S. Transportation Department reported that major U.S. airlines spent just over $5 billion in jet fuel during March. This is up $1.8 'billion, or 56%, from what they spent in February. Fuel cost $3.13 per gallon in March, an increase of 74 cents and 31% compared to February. USDOT reported that fuel consumption increased by 20% in March. The disruptions in shipping through the Strait of Hormuz since the U.S. and Israel's war against?Iran have?roiled the global oil markets. The soaring jet fuel price has created the biggest crisis in the aviation industry since the COVID-19 epidemic. In March 2025, airlines spent $3.88 Billion on jet fuel. This is a far cry from the $5.06 Billion they spent in?March of this year. Major U.S. airlines?have raised air fares, increased baggage fees and cut some routes. Fuel can account for as much as a quarter or more of airline operating costs. Spirit Airlines, the ultra-low cost carrier that ceased operations last Saturday, announced this week it had paid an additional $100 million for fuel in March and April. The fuel price spike was cited as the reason why its restructuring plan had failed, and that it was forced to end operations. Southwest Airlines CEO Bob Jordan said last week that "every?airline" is affected by high fuel prices. It's your responsibility to build your company in such a way that it is resilient and can survive these events because they do happen. Last month, low-cost 'carriers' asked the USDOT for a $2.5 billion bailout to address rising fuel costs. Transportation Secretary Sean Duffy told reporters that he didn't think it was necessary at this time. (Reporting and editing by David Shepardson)
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Politico reports that Rosneft has taken new legal action against Germany regarding the Schwedt refinery.
The Russian oil company Rosneft reportedly filed a lawsuit against its German subsidiaries that are the majority owners of the PCK Schwedt Refinery. This was reported by the 'Politico' news outlet on Wednesday. The Berlin-Brandenburg higher administrative court was not available to comment immediately. The German Economy Ministry did not respond to a phone call for a comment. Politico, citing an official from the court, reported that Rosneft had filed a lawsuit on March 30 in order to meet a deadline set by a German Economy Ministry order issued in late February, which placed certain units of the Russian 'firm' under trusteeship. The decision to put them under a trusteeship was made as part of an effort to establish long-term controls?after the prior framework required state control to be renewed each six months. Rosneft filed a lawsuit in 2022 against the previous trusteeship but it was unsuccessful. (Writing Miranda Murray Editing Madeline Chambers
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Price hikes and outlook cuts are used by airlines to combat the fuel price surge.
The aviation industry was blindsided by the sudden increase in jet fuel costs from $85 to $100 to $150 to $200 per barrel during the U.S. and Israeli war against Iran. Fuel accounts for as much as a quarter or more of the operating costs, which has forced airlines to raise their fares and change their financial forecasts. Here is an alphabetical list of the ways airlines are responding to this issue: AEGEAN AIRLINES The Greek airline anticipates that the suspension of Middle East flights, as well as a spike in fuel costs will have a "notable" impact on its first quarter results. AIRASIA X Malaysian Airlines executives announced that the company has cut 10% of its flights in the group and imposed a fuel surcharge of around 20%. AIR CANADA Canada's largest airline has suspended its full year guidance due to the volatility of jet fuel prices. The company announced previously that it would reduce four of its daily flights from New York to just 38 due to rising fuel prices. AIR CHINA, CHINA SOUTHERN AIRLINES, CHINA EASTERN AIRLINES China's "big three" airlines have increased surcharges for domestic flights to 60 yuan (8.78 dollars) for flights less than 800 kilometers and 120 yuan (about $13.80) for those more than 800 kilometers, respectively, from 10?yuan or 20 yuan. AIR FRANCE-KLM The airline group has said that it expects a fuel bill increase of $2.4 billion this year. It also downgraded the capacity outlook from 2025 to a 2%-4% increase. It had previously predicted an increase between 3% and 5%. Cabin fares will increase by 50 euros ($59), per round-trip, to reflect the'surging fuel prices'. KLM, the Dutch subsidiary of the group, announced on April 16 that it would cancel 160 flights across Europe in coming months due to rising fuel prices. AIR INDIA The Indian airline said that it will change its fuel surcharge system from a flat surcharge for domestic flights to one based on distance. The Indian carrier said that surcharges for international routes do not compensate the steep rise in fuel costs. AIR NEW ZEALAND On April 7, the airline announced that it would cut flights in May and June, and raise fares. It was one of the first airlines to announce a large increase in ticket prices after the conflict broke. The airline also suspended its earnings forecast for the full year due to volatility in the fuel markets. AIR TRANSAT The Canadian airline announced that it would reduce its planned capacity by 6 percent from May to October of this year. Cuts are expected to be made on routes to Europe, the Caribbean, and Cuba. AKASA AIR Akasa Airlines, based in India, announced that it would be introducing fuel surcharges ranging from 199 to 1,300 Indian Rupees ($2 - $14) for domestic and international flights. ALASKA AIR Fuel prices are rising sharply, putting pressure on airline margins. The carrier had previously withdrawn its profit forecast for the full year and warned that earnings would be severely affected in the second quarter. The carrier has also reduced capacity in certain markets. AMERICAN AIRLINES The U.S. airline slashed their 2026 profit projection, pushing lower expectations to a loss. They also said they expected to see an increase in jet fuel costs of more than $4 billion for this year. The government has increased the fees for checked bags on domestic flights and short-haul flights by $50 for the third bag and $10 for each of the first two bags. It also reduced certain benefits to economy passengers. It said that higher fuel costs would increase its costs by approximately 140 billion yen (890 million dollars) this year. However, it is expected that hedging, lower fares, and cost-cutting measures will limit the impact to around 60 billion. It has said that it will consider introducing an internal fuel surcharge for the fiscal year starting April 2027. ASIANA AIRLINES Newsis reported that the South Korean airline would cut 22 flights from April to July because of fuel price increases. CEBU AIR The Philippines-based carrier said that the sharp increase in fuel prices is a major concern. It will continue to review pricing and network strategies and try to minimize the impact. DELTA AIR LINES Delta announced that it would reduce capacity by 3.5 percentage points compared to its original plan and raise fees for checked baggage in order to offset the rising costs of jet fuel. The increase will be $10 on the first and second bags, and $50 on third bags. The U.S. carrier pulled all planned growth in capacity for the current quarter, and forecast profits below Wall Street expectations. EASYJET EasyJet has warned that it will suffer a larger half-year loss before tax of between 540 and 560 millions pounds ($732 and $759million), including an extra 25 million pounds of fuel costs in march. FRONTIER Airlines A group of U.S. Budget Airlines, including Frontier, has proposed a $2.5 Billion Relief Plan to the U.S. Government. The Wall Street Journal reported. The report stated that the figure was based on the amount of jet fuel the group is expecting to spend this year in comparison to previous forecasts. Fuel prices have increased dramatically since the carrier's forecast, and it has stated that it will be reviewing it. GREATER BAY Airlines Hong Kong based company, said that it will increase fuel surcharges for most routes on April 1 and keep them the same on routes to mainland China?and Japan. HONG KONG Airlines The airline announced that it would increase fuel surcharges up to 35% on flights between Hong Kong, the Maldives and Bangladesh, and Nepal. British Airways' owner IAG announced it would increase ticket prices in order to reflect the higher costs of jet fuel. Despite its fuel hedges it is "not immune" from the wider fallout caused by fuel price volatility. INDIGO India's largest airline announced that it will introduce fuel charges for domestic and international flights starting March 14. The charge for flights into the Middle East is 900 rupees and for flights into Europe, 2,300 rupees. JETBLUE AERWAYS JetBlue announced that it would reduce hiring, reduce capacity, and raise fares in order to mitigate the impact of the rising jet fuel prices. CEO Joanna Geraghty stated on a earnings call that the airline had suspended its outlook for the full year. Sources with knowledge on the subject have confirmed that KOREAN will be entering emergency management mode in April as oil prices continue to rise. LATAM AIRLINES The Chilean carrier has cut its core earnings forecast for 2026 after rising jet fuel costs pushed up costs. LUFTHANSA The German airline group has said that it will be hit by jet fuel prices of 1.7 billion euros in 2026. Its subsidiary ITA Airways announced that it would increase ticket prices by between 5% to 10% in 2026, to compensate for rising fuel costs. The group announced in April a new low-cost "Economy Basic", which limits free carry-on luggage to a "laptop or small backpack". The group had previously announced that 20,000 short-haul flight would be removed from their schedule by October, which is equivalent to approximately 40,000 metric tonnes of jet fuel. PAKISTAN INTERNATIONAL FLIGHTS The airline said that it would increase domestic flight fares up to $20, and international flight fares up to $100. It cited higher fuel surcharges as the reason for this. QANTAS AIRWAYS Qantas, an Australian airline, said that it has delayed a planned A$150-million ($108-million) buyback. It also increased its fuel estimate for the second half 2026 from A$2.5 billion to A$3.1-3.33 billion. Scandinavian Airlines announced that it would cancel 1,00 flights in April due to high jet fuel and oil prices. In March, the airline had cancelled "a couple hundred" flights. SPIRIT AIRLINES The U.S. Low-Cost Carrier shut down abruptly, after collapsing due to financial pressures. This included the sharp increase in fuel prices caused by the Iran War. SPRING AIRLINES Budget Chinese airline announced that it will increase fuel surcharges for domestic flights starting April 5. Details to be announced in due course. SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWAST AIRLINES The?U.S. The?U.S. The previous increase in the cost of checked bags was $10. The Portuguese airline claimed that its price increases would partially offset the impact of fuel prices changes on its revenues. THAI AIRASIA The Thai low cost carrier announced that it would reduce its overall seat capacity between May and July by 30% on average to offset the impact of rising aviation fuel costs and a softening of demand. THAI AIRWAYS The Thailand-based airline said that it would increase fares between 10% and 15% in order to combat rising fuel prices. The European airline, tour operator and travel agency cut their full-year profit forecast and suspended revenue guidance. They said they had incurred extra costs of about 40 million euro due to the March war, including repatriation and operational disruptions. TURKISH AIRLINES LUFTHANSA SunExpress, the joint venture between Turkish Airlines, Lufthansa and Lufthansa announced that it would charge a temporary fuel surcharge of 10 euro per passenger for routes between Turkey, and continental Europe. The fuel surcharge applies to all bookings made after April 1, for departures after May 1. Turkish Airlines announced on April 10, that it would not be distributing any dividends from its net profit for 2025, instead choosing to keep the earnings and preserve cash. T'WAY AIR As part of measures taken to combat the effects of war, the South Korean low-cost carrier said that it would furlough cabin crew in May and/or June without pay. UNITED AIRLINES Scott Kirby, CEO of the U.S. airline, said that ticket prices could need to increase by up to 15% or 20% in order to offset an increase in jet fuel prices. The company has already implemented five fare hikes late in the first-quarter, along with increased baggage fees that it says have begun to offset rising fuel prices. The carrier forecasted second-quarter profits and full-year profit below Wall Street expectations. It said it would recover only 40-50% through fares and revenue measures during the second quarter, but that this figure could rise to 70-80% by the third and up to 85-100% in the fourth. VIETJET Vietnamese budget airline has announced that it has adjusted flight frequencies on certain routes due to possible fuel shortages. VIETNAM Airline Vietnam's Aviation Authority announced that the carrier will cancel 23 flights a week on domestic routes starting in April after it requested assistance from the government to remove an environment tax on jet fuel. VIRGIN ATLANTIC Corneel Kster, the CEO of the airline, told The Financial Times that despite adding fuel surcharges on fares this year it will struggle to achieve profitability. VIRGIN AUSTRALIA Virgin Australia has said that it expects an increase of jet fuel costs of between A$30 and A$40 million in the second half of the fiscal year. It also anticipates a 1% decrease in capacity for the fourth quarter. VOLOTEA The Spanish low cost airline has introduced a new pricing strategy that links ticket prices with fuel costs. This could add an additional surcharge after purchase of up to fourteen euros per passenger per flight. WESTJET Globe and Mail reports that the Canadian airline has reduced seat capacity in June. The Canadian Press reported previously that the airline would add C$60 ($44.50) to certain bookings, and combine flights due to rising costs.
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French aircraft carriers moving into Red Sea, Gulf of Aden
France's Charles de Gaulle carrier group has moved into the Red Sea, Gulf of Aden and the Arabian Sea as part of a?France-Britain?preparation for a?future?mission? to assist freedom of navigation in the 'Strait of Hormuz'. In a press release, the French Armed Forces ministry said that the "aircraft carrier group" had crossed the Suez Canal Wednesday on its way to the southern Red Sea. The French aircraft carrier group can stay at sea between 4 and 5 months. France and Britain lead efforts to lead an international team to protect shipping in the Strait of Hormuz when conditions allow. The conflict in Iran has severely disrupted shipping through the Strait of?Hormuz, which carries nearly?a?fifth of?the?world's oil. (Reporting and editing by John Irish)
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Alaska Air offers $500 million in debt as fuel prices rise due to the Iran War
Alaska Air announced on Wednesday that it would raise $500 million via a debt offering. The airline is looking to bolster liquidity in the face of a rise in jet fuel prices due to war. The carrier announced that it would issue debt securities with a maturity date of 2031. After Iran closed the Strait of Hormuz, airlines around the world cut capacity and raised baggage fees. They also added fuel surcharges in order to combat the skyrocketing cost of fuel. Since the U.S. and Israeli strikes against Iran on February 28, jet fuel prices have almost doubled. Financial strains are more severe for airlines such as Alaska Air, which is based in the U.S. West Coast. There, pipeline capacity and refinery capacity remain limited. This forces airlines to depend on oil imports. Last month, the airline announced that it would increase its fuel sourcing from Singapore from 20% to between 30% and 40% in time. American Airlines and JetBlue Airways, two rivals, also took advantage of the debt market in the last month to combat the rising costs resulting from the Iran War. American raised $1.14 Billion, JetBlue $500 Million. (Reporting by Nandan Mandayam in Bengaluru; Editing by Diti Pujara)
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Airport operator: Summer seat availability in Cyprus will not fall more than 5%.
Hermes Airports, Cyprus' airport operator, said on Wednesday that the number of seats available to Cyprus this summer would be "no more than" 5%. The Iran war has dampened the outlook for tourism in the region. Since the U.S. launched the war against Iran, in late February, the number of tourists to the island has decreased. On March 2, a single drone attack hit a British military base in Cyprus. Hermes, the company that operates Larnaca and Paphos airports, has said that airlines have reduced their schedules by about 600,000. Passenger arrivals will also be down around 9% or approximately 450,000 passengers. It said that the majority of adjustments were made to lower flight frequencies rather than cancelling routes, and that there was no impact on schedules because of fuel shortage issues. The arrivals in the'recent weeks' have shown signs of improvement, with passenger loads on aircraft increasing to between 80% and 85% from April 20, compared to averaging 76.8% earlier in April. Hermes reported that key?tourism markets such as?Britain, Poland and the United States were experiencing load factors above 90%.
US FAA chief to answer questions from legislators after agency cited for fatal air crash
The head of the Federal Aviation Administration (FAA) will be questioned on Capitol Hill, on May 19, after a report revealed that'systemic failures within the agency led to the devastating mid-air collision last year which killed 67 people.
The collision of an American Airlines regional plane and a Black Hawk Army helicopter in January 2025 near Ronald Reagan Washington National Airport, was the most deadly aviation accident to occur in the United States for more than two decades. FAA Administrator Bryan Bedford is scheduled to appear before a Senate Aviation Subcommittee on Wednesday, April 17, to answer questions regarding the agency's response to a number of recommendations from the National Transportation Safety Board.
Hearing comes at a time when the House and Senate are passing competing bills to address air safety. The close calls have shown that our aviation system is fragile. We cannot afford to delay the implementation of safety standards.
The FAA has not yet commented.
The NTSB found that the FAA allowed helicopters to fly close to the airport without any safeguards to keep them separate from planes, and failed to act on data or recommendations to move helicopter traffic from the airport.
Jennifer Homendy, Chair of the NTSB, has rebuked FAA for its failure to communicate and address safety and culture issues at the 26th busiest airport in the United States, which is also home to the busiest runway in the country and is frequently used by members of Congress.
The?NTSB gave more than 30 recommendations for the FAA. They cited a number of failures that occurred before the Washington crash.
There have been 85 close calls between commercial aircraft and helicopters near Reagan Airport since 2021.
The NTSB found that the FAA handled traffic differently at Reagan, and it was not able to accept a suggestion to include hot spots on a chart of helicopter routes. Homendy stated that the FAA did not also review helicopter routes as required annually and had routes which were not designed to provide proper separation.
(source: Reuters)