Latest News
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Air New Zealand appoints former Air India CEO Campbell Wilson to its board
Air New Zealand announced on Wednesday that it will appoint Robert 'McDonald and former Air India CFO Campbell Wilson as members of its board. This appointment is effective on September 24 when the annual shareholders meeting takes place. These appointments are made as New Zealand's national airline deals with delayed aircraft deliveries, engine problems that persist and high fuel costs resulting from the Middle East conflict. Campbell Wilson, a New Zealander by birth, has more than 30 years of aviation experience. After nearly four years as chief executive of Air 'India, he stepped down in early April amid persistent losses and increased scrutiny after a crash that killed 260 last year. Wilson was the founder of?Scoot - Singapore Airlines' low cost unit. In his long career at Singapore Airlines, Wilson helped to shape Scoot’s informal, irreverent cultural ethos within a more conservative, larger organisation. Robert McDonald, on the other hand, is currently a director of FleetPartners Group and he serves as a director for Contact Energy. (Reporting by Shivangi Lahiri in Bengaluru; Editing by Diti Pujara)
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Port of Los Angeles reports high volume in July, boosted by retail goods and AI project parts
Port of Los Angeles' executive director announced on Tuesday that the port, which is America's busiest seaport by volume, had achieved its second highest?volume? for July. This was boosted by a resilient demand for consumer products and equipment used in manufacturing and data centers construction. Executive director Gene Seroka stated that the demand for a strong August should be supported by a positive result. Analysts and traders closely monitor ocean container imports as an early indicator of U.S. economy activity. Data from the Port of Los Angeles showed that it processed 960 464 20-foot equivalent unit (TEU) containers last month. This included 499 552 TEUs for imports. The adjacent Port of Long Beach, which is located just a few miles away, reported last week that it had its second busiest July, after handling 928.508 TEUs in total, including 467.461 TEUS of imports. Seroka told journalists that based on the current situation, he expects to move more than 900,000.00 container units during August. Seroka, along with other industry experts, said that peak season arrived 'early this year' and many holiday goods have already been delivered. Some retailers have front-loaded their goods due to the 10% global Section 122 Tariffs expiring in late July. After a period characterized by uncertainty, the 10% global Section 122 tariffs expired in late July. Seroka stated that the current pace of imports would not last forever. Seroka cited a forecast by the National Retail Federation for a strong increase in imports during August, with progressively reducing imports through the end the year. Container shipping, a $120 billion industry, has traditionally relied on the retail sector to drive its peak season and the industry as a whole. Experts say that the industry's dependence on retail appears to be changing as the U.S., and other countries, race to build data centers and fortify their?electric grids to support AI. Vincent Clerc said, "What's in a container is changing," on Maersk's earnings call, last week. Clerc explained that for many years, a typical container from Asia contained goods such as clothing, furniture, and shoes. He said that the industry now moves Asian products linked to electrification, and the race to increase power capacity. These include parts for windmills, solar panels and turbines, and cooling units used in data centers.
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The government confirms that the ferry was over-capacity.
The government said that the ferry, which capsized last week on Lake Kariba in 'Zimbabwe, was carrying 180 passengers. This is double the number of people the police had estimated. The Herald, a state-controlled newspaper in South Africa, reported that it was the worst transport disaster to have occurred there since 1991. That bus crash claimed 89 lives. The boat capsized as it was traveling from a town in northern Zimbabwe called 'Kariba' to a rural community located on a lake after being hit by powerful?waves. Police said that the ferry was only meant to carry 90 people, last week. The government statement didn't specify the maximum number of passengers that could have been aboard, but it did say that the?180 people and goods on board exceeded the "carrying capacity". The police put the death toll at 94 on Tuesday. The government released a statement after a cabinet session that said 77 people had been rescued to date, and search-and-recovery operations are still ongoing. Lake Kariba is one of the largest reservoirs in the world. It's located on a border between Zimbabwe and Zambia. (Reporting and writing by Chris Takudzwa, Nilutpal Timsina, Editing by Alexander Winning & Alison Williams).
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Canada's oil producers target late 2027 for Pathways carbon capture decision
The president of Oil Sands Alliance, an industry group that represents Canadian Natural Resources, Imperial Oil, Suncor Energy, Cenovus Energy and ConocoPhillips Canada, said in an interview this week that the country's largest oil producers plan to make a final investment decision by late 2027 on their 6-million-tonne "carbon capture and storage" project. This is a critical part of the country's plans to increase oil production while keeping emissions under control, according the Oil Sands Alliance. Kendall Dilling, the head of the industry group representing Canadian Natural Resources (CNR), Imperial Oil (Suncor Energy), Cenovus Energy (CenocoPhillips Canada), and ConocoPhillips Canada said this week in an interview that he believed oil sands firms would reach a definitive agreement with Alberta and federal governments by mid-November on fiscal terms, which could pave the way for the decision to go ahead with a multi-billion dollar Pathways project. Dilling stated that the window for an upcoming launch is "late 2027 to early 2028". The Pathways project is a proposed CO2 transport pipeline and storage hub, which could reduce greenhouse gas emission from Canadian oil sands. It's part of a nonbinding agreement that was signed by Alberta and Canada earlier this year, who agreed to work jointly to increase the country's oil production. Mark Carney, the Canadian Prime Minister, is working to strengthen the oil and gas industry as part of a plan to increase the resilience of the Canadian economy against President Donald Trump's tariffs. However, he says that he remains committed to combating climate change. Mark Carney has endorsed Alberta’s vision for a new pipeline that would export 1 million barrels per day to the Pacific Coast. However, he has stated that his support depends on whether the Pathways project is completed. Oil sands firms, who first proposed the project for 2021, but balked at its construction costs, signed an agreement with both governments in July. The agreement outlines the conditions necessary for Pathways to be implemented, such as agreements on carbon pricing, financial assistance, and permitting. Many of the policy changes proposed have yet to be drafted into legislation. Project Scaled Down Environmentalists have criticized the Oil Sands Alliance over the scaling down of the project. The original goal was to reduce emissions by 22 million tonnes?by 2030. Dilling, however, said that the agreement between industry and government -- 6 million tonnes of emissions reduction by mid-2030s with an "additional" 10 million tonnes?by 2045 -- was a better, more balanced middle ground. He said: "The (prior) proposal was a very aggressive timeline and scale that I thought would have been difficult to manage, and contain costs." Some oil and gas executives publicly criticized the decision to link the approval of the Pathways project with the approval of the new?oil pipe. Cenovus CEO Jon McKenzie stated in June that Pathways may cost as much as C$30 billion. This would make Canadian producers who are also subjected to a federal carbon tax uncompetitive. Dilling said that while the industry is concerned about its competitiveness, it's not accurate to say they have soured on carbon?capture. He said: "Today the global focus on climate change has definitely mellowed, but as an industry we are taking a long-term approach here." "So if in 10 years, the discussion of emissions per barrel is important globally again, we won't be on our heels." We have been on the front foot." Amanda Stephenson, Calgary reporter; Paul Simao, editor
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After 12 years, the US has lifted security restrictions on ships coming from Nigeria
Adegboyega Oyetola, Minister of Marine and Blue Economy, announced on Tuesday that the United States had lifted the security restrictions on vessels coming from Nigeria after more than 10 years. This move is expected to reduce shipping costs and increase the competitiveness in Nigerian ports. The U.S. Coast Guard introduced the restrictions known as Conditions of Entry in June 2014. They required that vessels bound for "the United States" who had visited certain Nigerian ports recently to "comply with enhanced security measures and undergo increased scrutiny before entering U.S. water." The Coast 'Guard' said Nigerian ports failed to maintain effective anti-terrorism procedures, citing deficiencies with the legal framework, oversight by the designated maritime security authority and access?control. Oyetola said the decision was made in response to improvements in the maritime safety framework and compliance with International Ship and Port Facility Security Code. U.S. authorities were not immediately available for comment. The lifting of restrictions means that vessels calling in Nigerian ports before sailing to the United States are no longer subject to additional security requirements imposed by the program. Oyetola stated that the move will help improve vessel turnaround times, increase schedule reliability and make Nigerian port more attractive for international shipping lines. Nigerian Maritime Safety and Administration said that the U.S. Coast Guard conducted four assessments between March 2024 to April 2026 of Nigeria's maritime safety systems and port facilities. The industry has long claimed that these restrictions increase?operating expenses through increased inspections, documentation and security requirements, as well as delays, higher freight costs and increased insurance rates.
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UKMTO reports crew injuries after vessel struck by unknown projectiles in Strait of Hormuz
The 'United Kingdom Maritime Trade Operations' said a?report?was received?on -Tuesday? that a vessel had been struck by an unidentified projectile as it transited outbound through the Strait of Hormuz. This caused engine room damage? and a crew fatality. According to the report, the remaining crew members were being 'assist by the Omani Coast Guard. UKMTO stated that no environmental impact had been reported, and authorities were investigating. Sources in maritime?security identified the vessel as Minoan Dignity with Liberia flag, saying that it was struck by a projectile unknown while on an outbound transit along a strategic waterway. According to sources, the chief engineer of the vessel was killed. This incident occurs as'shipping through the Strait of Hormuz is severely disrupted. Iran. Reporting by Tala Ramadan, Rene Maltezou and Alex Richardson; Editing done by Christian Schmollinger and Shri Navaratnam
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IAEA: drone explodes at Zaporizhzhia Nuclear Plant bus stop killing one
The 'International Atomic Energy Agency' said Tuesday that a drone exploded at a bus stop used by the staff of Ukraine’s Zaporizhzhia Nuclear Power Plant, killing one person and injuring others. In a statement released on?X, the IAEA (the United Nations' nuclear watchdog) said that the director of the plant described the incident as "the worst the plant has ever faced". According to the agency, the director of the plant said that the explosion occurred at 6 am and caused 16 casualties, including one death and three serious injuries. The station is Europe's biggest with six reactors and was seized by Russian forces in the first week of their invasion of Ukraine in February 2022. Since then, both sides have accused each other of actions that compromise nuclear safety. Water supplies to parts of the power plant were cut off?in July. IAEA Director-General Rafael Grossi called on military commanders and others who are threatening nuclear power plants or their staff to immediately stop these unacceptable acts. He added that they "constitute?great risks for nuclear safety and security in the conflict". (Reporting and editing by Miranda Murray, with Ludwig Burger)
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Airbus plans to launch A350F in September, according to sources
Airbus 'tentatively' scheduled the first flight of its delayed A350F cargo plane for the third week in September, according to industry sources. The company is attempting to?loosen?Boeing’s grip on the airborne trade. The European planemaker has a well-balanced certification schedule as it strives to complete flight tests and deliver the first deliveries?to its customers by the end of the next year. Industry sources claim that flight trials usually take between 12 and 15 months. Airbus' spokesperson stated that it had nothing more to say about its latest?predictions, which included a maiden flight by the end of the year and a first delivery in 2027's second half. Airbus launched its dedicated freighter version of the A350 long-haul aircraft family in 2021, with a target of entering service within four years. The aim is to take a piece of the market that has been dominated for decades by Boeing. Airbus has sold 107 of the A350F lightweight composite cargo planes compared to 38 older A330F models. In May, it was reported that Airbus faced delays with cargo doors for the new freighter. These were built in Spain by 'Airbus. This month, aviation publication?Leeham News' reported that A350F delivery could be delayed until 2028. Reporting by Tim Hepher Editing Susan Fenton and David Goode
Sources say that Russia is rerouting Kazakh crude oil to the Black Sea in order to increase Baltic export capacity.
Sources say that Russia has rerouted Kazakhstan's crude exports to the Black Sea port of Novorossiysk from the Baltic port?of Ust-Luga, in order to free up more capacity for Russian oil exports?from the Baltic due to a heightened Black Sea security risk. Sources familiar with the issue said that Kazakhstan exports crude oil through Novorossiysk as well as Ust-Luga. However, Moscow wants to route all Kazakh transit volumes through the Black Sea starting in late August and continuing until the end of September. This move would allow Russia to replace Kazakh crude barrels at Ust-Luga by its own crude exports. Meanwhile, Ukrainian drone attacks are making it harder for Russian exporters and tankers to secure Black Sea loadings. Three sources said that at least two cargoes destined for Ust-Luga to be loaded with Kazakh KEBCO crude in late August were redirected to Novorossiysk. Three of the?sources said that at least two cargoes of Kazakh KEBCO crude due to load at Ust-Luga in?late August have been redirected to Novorossiysk.
Requests for comments from the Energy Ministries of Russia and Kazakhstan were not immediately responded to.
Two sources claim that Russian exporters struggle to find tankers to load crude oil in the Black Sea because shipowners do not want to transport Russian crude to the region due to security concerns. The vessel shortage has caused delays in cargo loadings. Kazakh crude oil is viewed as having lower risks and therefore making it easier to chart tankers. The Financial Times reported that Ukraine has pledged to stop strikes on tankers transporting non-Russian crude from Black Sea ports. Two sources stated that Kazakh producers are in favor of the agreement because Black Sea exports are more profitable at the moment than Baltic shipments. The majority of KEBCO crude oil is sold to Mediterranean refining companies or to European refineries that are owned by Kazakhstan state oil company KazMunayGas. Reporting by Mark Potter Mark Potter (Editing by Mark Potter).
(source: Reuters)