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EU Aviation body reinstates Middle East flight warnings as fighting resumes
As the U.S. - Iran war erupted again, the European Union 'Aviation Safety Agency' (EASA), on Tuesday, reinstituted and?toughened their warning to airlines in the Middle East. They told them?to avoid?the airspace?"of Bahrain,??Kuwait?, Qatar?, the United Arab Emirates?and over the Gulf of Oman?. EASA retracted its previous advisory just a week before, following a temporary easing of regional tensions due to the interim ceasefire signed between Washington and Tehran last month. In that warning, airlines were asked to be cautious when flying in the airspace of Israel, Jordan and Oman. The new,?restrictive warning is valid until the 29th of July. Iran launched?ballistic rockets at a U.S. On Tuesday, U.S. forces attacked Jordan's air base for the third consecutive night after Iran announced on Saturday that it would close the Strait of Hormuz. Donald Trump, the U.S. president, was prompted by this move to re-impose a blockade on Iranian shipping as well as propose a 20% charge to protect the crucial waterway. EASA stated that the 'presence' of US military bases in the area increases the?likelihood?that states covered by the Conflict Zone Information Bulletin could be directly exposed to Iranian missile and drone attacks. Separately?EASA extended its advisory last week asking airlines to 'not operate in the airspace of Iran, Iraq and Lebanon.
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Frontier Airlines joins Starlink in a bid to attract travelers
Frontier Airlines announced on Tuesday that it will begin installing in-flight Wi Fi?across its fleet?in early 2027. In a bid to compete with Amazon's Kuiper, the Denver-based airline has signed up with Elon Musk’s Starlink to offer in-flight Wi Fi. As airlines compete for customers, they are increasingly turning to high-end amenities. ?Frontier launched Starlink after the airline introduced first-class seats and?loyalty programs aimed at attracting higher spenders. In a recent statement, Chief Executive Officer Jimmy Dempsey stated that "we're continuing to make investments in the products and services most important to our customers." The terms of the agreement were not disclosed by the carrier. Starlink installation can be expensive, costing up to hundreds of millions for large fleets. Frontier Airlines is one of five Indigo Partners portfolio carriers that will install Starlink on more than 1,000 aircraft. Even so, not all low-cost carriers are convinced that the economics works. Ryanair and EasyJet highlighted the costs associated with "in-flight connectivity", highlighting the debate about if premium products could generate enough revenue to justify investment for budget carriers. Starlink is a satellite system that uses thousands of low-Earth orbit satellites to provide a faster connection and lower latency. Reporting by Doyinsola Oladipo, New York; editing by Sonali Paul
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US PJM Power Grid Auction Prices to Stabilize Near Record Highs
The largest U.S. Grid Operator, PJM Interconnection, has set a temporary price limit to help curb the rising costs for consumers and businesses. The auction prices, which are aimed at securing sufficient electricity to cover the most-demanding days on the PJM Grid covering 13 states of the Mid-Atlantic region and Midwest, have soared in recent years to record highs largely 'because the demand from data centres has outstripped the supply. Since 2024, the so-called "capacity prices" determined by the auction jumped more than 1,000% due to this imbalance in supply and demand. This has increased energy bills for people living in PJM regions, which is about one-fifth of Americans. PJM, in response to pressure from a group of governors in various regions, has temporarily capped the prices at its capacity auctions at around $325 per megawatt day. According to a recent statement from the grid operator, the price cap was in place during last year's sale, so prices should remain roughly unchanged for this year. The latest results will be announced at 4 pm EDT on Thursday, and they will take effect in 2028. POWER SUPPLY CUSHION Power plant operators are paid capacity prices to ensure that they can provide electricity at the times when demand is highest. These incentives are also intended to encourage the construction of new plants. After nearly two decades in which power consumption growth stagnated in PJM the region suffered net?losses' of electricity just as energy-intensive data centres began to appear. During its capacity 'auction' in December, PJM came up about 6 gigawatts shy of achieving the required power cushion to meet its reliability standard. For reference, one gigawatt is enough electricity to power approximately 750,000 homes. Other factors that contributed to the?rise in capacity prices include PJM recalculating available supplies during winter, when electricity from solar and natural gas-fired plant is lower than it was during the summer, and retirement of fossil fuel-fired?power plants over a period of years. The grid operator is currently overhauling its market structure, adding new rules and regulations to accommodate the new electricity demand of data centers and large energy consumers such as advanced manufacturers. (Reporting and editing by Emelia Sithole Matarise in New York)
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Britain and EU sign Gibraltar Treaty to ease border crossings
The 'European Union' and Britain signed a treaty on Gibraltar on Tuesday, following an agreement reached last year to ease border crossings and end years of political insecurity over the British Overseas Territory. The treaty was signed in Brussels by the European Trade Commissioner Maros Sefcovic and the British Minister of State for Europe Stephen Doughty. Also present were Spain's Foreign Minister Jose Manuel Albares Bueno, as well as Gibraltar’s Chief Minister Fabian Picardo. Residents of Gibraltar can use their residence cards to cross over to Spain without having to get their passports stamp. Spanish citizens, on the other hand, can do so using an ID card issued by the government. Arriving passengers at Gibraltar Airport will have to show their passports both to Gibraltar and Spanish border officers. Britain also wants a system that is'similar' to the French police stationed at St Pancras Station in London for the Eurostar service. The Treaty of Utrecht of 1713, which ended the War of Spanish Succession, gave Britain Gibraltar. It is a strategically significant enclave located at the southern tip of Spain. (Reporting and editing by Phil Blenkinsop; Sudip Kar Gupta)
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Thyssenkrupp Steel suspends its own barges due to low Rhine levels
The company announced on Tuesday that it had suspended the shipping of raw materials from Duisburg, a western German city, with its own vessels due to low water levels in the Rhine River. Thyssenkrupp Steel transports approximately 50,000 tons per day of iron ore, coal and other materials up the Rhine roughly 240 km (149 miles) from Rotterdam. Commodity traders have already said on Monday that the low?water level during the current heatwave prevents cargo vessels from sailing on the Rhine fully?loaded, which drives up the?freight transportation costs. The persistent and worsening low water situation now affects the supply of raw material to our Duisburg factory. Low water levels have caused our barge transport to be suspended, according to a spokesperson. The?spokesperson said that Thyssenkrupp uses third-party chartered vessels with shallower drafts. Customer deliveries are not at risk. The spokesperson declined to provide a specific number. She stated that the company has reduced its 'blast furnace production' due to a?tighter supply of raw materials. The Rheinische Post reported earlier on this issue. (Reporting and writing by Tom Kaeckenhoff; editing by Kirstiknolle).
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Hapag-Lloyd: Hormuz freight fee is 'fundamentally incorrect'
Hapag-Lloyd of Germany, the world's fifth-largest shipping company by container volume, criticised the U.S. Plans to impose a 20 percent charge on cargo shipping through the Strait of Hormuz are "fundamentally incorrect". U.S. president Donald 'Trump' said on Monday that he reinstated the blockade of Iranian shipping in the Strait of Hormuz last month. He also proposed charging a fee of 20% to cover the costs of safeguarding this vital waterway. Hapag stated in a press release that it would be "fundamentally wrong" to charge?fees when passing through international waters. The German Shipowners' Association VDR?said that such a measure was illegal and would undermine the principle?of free passage through international waters. Today it is the Strait of Hormuz. Tomorrow, the Strait of Malacca. And the next day, the 'next international strait. What will happen? VDR head Martin Kroeger ?told business magazine Wirtschaftswoche in ?an interview on Tuesday. He added that civilized commercial shipping should not be used as a pawn for geopolitical conflict. The Strait of Hormuz is a crucial route for oil and natural gas supplies. It has now become a central flashpoint in the U.S. - Iran conflict. Iran's blockade has driven up energy prices and fueled global inflation fears. Hapag stated that fees could be justified for major infrastructure like the Suez Canal and the Panama Canal but not the Strait of Hormuz which transported about a fifth of the global oil and gasoline supplies before the war. The Hamburg-based company, which on Monday raised its earnings forecast on the back of strong demand, said it couldn't reliably quantify how Gulf tensions would affect its business. Hapag said that the recent escalation has had no immediate effect on its vessel operations. The company has adjusted their network to ensure vessels do not pass through this key waterway. Reporting by Elke Ohlswede. Miranda Murray and Linda Pasquini wrote the article. Matthias Williams, Mark Potter and Mark Potter (Editing)
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Travel restrictions tightened as Ebola threat rises
World Health Organization declared on May 17, 2014, that the Ebola outbreak is a Public Health Emergency of International Concern in?the Democratic Republic of Congo. It also stated that there was a very high risk of it spreading to neighboring countries. This decision has led governments to increase travel-related 'containment' measures. The following is a list of?travel restrictions and screening steps announced by various?countries, as well as?measures taken by airlines. Travel Bans/Restrictions UNITED STATES On July 13, the U.S. announced that it would block American citizens living in the DRC, from flying back to the United States via commercial flights. Recent travellers will be placed on a list of "do not board" passengers until they spend at least 21 consecutive days in another country. Washington has also prohibited non-citizens from entering its country if they have traveled to the DRC or Uganda, or South Sudan. CANADA On May 26, the Canadian government announced that all residents of the DRC, Uganda and South Sudan will be prohibited from entering Canada for 90-days starting on May 27. JORDAN According to Jordanian State Agency, the Jordanian Government suspended entry on May 19, for travellers arriving from DRC or Uganda. BAHRAIN Bahrain announced on May 19, that it would suspend for 30 days entry to foreigners arriving from South Sudan, DRC and Uganda. SCREENING MEASURES AND QUARANTINE MEASURES INDIA India has implemented screening and surveillance at airports and entry points. It also issued warnings on precautions and advised citizens to avoid non-essential travel in the DRC and Uganda. THAILAND Thailand's Public Health Ministry announced that, starting May 27, passengers from the DRC and Uganda will only be permitted to enter Thailand through Suvarnabhumi Airport where they will be screened. If they show symptoms of Ebola, travellers from or through these countries must quarantine themselves for at least a week. Kenya's Ministry of Health announced on 25 May that it has enhanced screening of travelers at high-risk entry points. ZAMBIA Zambia has increased screening and surveillance of Ebola cases after authorities ruled two suspected cases out. NATIONS RESISTING RESTRICTIONS EUROPEAN UNION The EU Health Security Committee stated on May 22, that screenings of passengers arriving from DRC or Uganda were not required, citing a low risk for the population. On?June 9, the U.S. Government called on European nations, hoping to prevent the spread of Ebola during the World Cup, to follow Washington's example and place travel restrictions on those who had recently traveled?to Central African countries that were affected by the Ebola epidemic. According to a spokesperson for the European Commission, there is no evidence that more border controls are needed. RESPONSE OF AIRLINES KLM announced on May 29, that it had cancelled flights from and to Entebbe Airport, near Kampala in Uganda. The Dutch airline attributed the cancellations to restrictions linked to the Ebola outbreak. The airline said that it was unable to operate its planned routes because of travel restrictions and entry measures in some countries for those who have recently traveled through Entebbe. This includes the crew. Brussels Airlines announced on June 1, that the Ebola situation did not impact its flight schedule. However, it had adjusted the rosters for its long-haul staff because crews who had traveled to the DRC and Uganda in the past 21 days will be denied entry into the United States. (Reporting from bureaus, compiled by Alexander Klyve Gudbrandsen in Gdansk and Arda Dipova in Gdansk. Editing by Matt Scuffham & Milla Nissi - Prussak.
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Aena's Spanish Airports served 31.6 millions passengers in June
Aena, the airport operator, reported that 31.6 million passengers traveled through its Spanish 'airports' in June. This is 3.8% more than the same month last year. The growing passenger numbers in Spain highlight the country's resilience as an international tourism hub, even though other countries are struggling with geopolitical instability, delays in aircraft deliveries, labour shortages, and increasing?operational expenses that have slowed capacity growth. * The number of passengers increased by 3.7% to 156.2 million in the first half of 2026. This is slower than the rise of 4.5% a year earlier Adolfo Suarez Barajas, the airport at Madrid, was the busiest in Spain. Josep Tarradellas?Barcelona El Prat?and Palma de Mallorca were next. * All?airports? operated by Aena - 46 airports, two heliports, and 17 airports in Brazil - as well as London's Luton, and Leeds Bradford grew by a whopping 3.5 percent in June. (Reporting from Gemma Guasch, Gdansk; editing by Bartosz Dabrowski.
Dutch court rejects Glencore's bid to purchase back a logistics unit at a discount
The Dutch court rejected Glencore’s bid to buy back Access World Group, its former logistics unit through a private transfer. Opponents said that the price proposed was too low.
According to a ruling of the Amsterdam District Court dated July 2, which was released last week, Glencore, a London-listed company, could not transfer Access World Shares?to Tironimus. Hearing was held on 21 May.
The court stated that Glencore did not demonstrate that a public auction was harmful. The court added that Tironimus might participate as a bidder at a public sale that could also identify other potential buyers. Glencore sought court approval under Dutch law for a private transfer of shares to Tironimus. The court found that the proposed transfer of shares to Tironimus posed a real risk of conflict of interest.
The company refused to comply, citing concerns about the previous sale process, the valuation of the transaction and the potential for a conflict.
Glencore has declined to comment.
Questioned about VALUATION
Global Capital Merchants Limited (based in British Virgin Islands) bought Access World in 2022 from Glencore for $176.7 millions.
Glencore initially provided GCM a vendor loan of $100 million to help finance the purchase. This was later increased to $140 millions.
The court stated that the sale 'process' was not sufficient to prove the market wouldn't pay more, because the company hadn’t fully disclosed the process. Also, the pool of bidders seemed limited. GCM did not?make the repayment due in January of 2023. According to a court document, by March 31, 2026 the total amount owed was $108.9 million, plus about $20.3 millions in interest.
The court also questioned the valuation underlying the proposed sale.
According to two sources, Glencore's Vantage Valuation valued the equity at $51.4m.
GCM was not available for comment. (Reporting and editing by Susan Fenton; Pratima Dasai)
(source: Reuters)