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Caspian Pipeline Consortium completes cleanup operation after accident, spill
The Caspian Pipeline Consortium announced on Saturday that the cleanup operation following an oil spill and accident at its Black Sea Terminal had been completed. The company, which manages more than 1% global oil, was forced to suspend operations at 2 mooring points due to the spill. CPC said in a statement that it had suspended emergency operations after inspecting the surface conditions at the site. A study was conducted to determine the volume of oil leaking and the cause of the accident. The relevant oversight bodies attested that the site of the spill was localised quickly. The terminal received the collected waste for disposal. CPC exports mostly from Kazakhstan via Russia to the Black Sea Terminal. It deploys normally three moorings points, one of which is used as a back-up. CPC, whose investors include U.S. giants Chevron CVX.N, and Exxon Mobil XOM.N, announced that SPM-1 mooring point was still operational. CPC was in the spotlight when Russia's conflict with Ukraine began. The consortium had to close all but one of their mooring points in 2022 because damage was affecting exports. This year, its operations were disrupted by a drone attack. Reporting by
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In several provinces, protesters have set fire to the Indonesian Parliament buildings
Indonesian protesters have set fire to regional parliament buildings across three provinces, as part of continuing demonstrations. This comes a day following the death of three people in violent violence. The incident has been a test for Prabowo Subito. Local media reported that protesters set fire to parliament buildings in West Nusa Tenggara and Cirebon, West Java, as well as Pekalongan, Central Java, and Cirebon, West Java. Detik.com reported that protesters looted office equipment in Cirebon, while police fired tear gas in Pekalongan to disperse the crowd. Authorities were not immediately available to comment on the reports. The protests in Indonesia's Jakarta began earlier this week, over the pay of lawmakers. They grew on Friday when a police car hit and killed a motorbike driver. Listyo Sigit Prabowo, the national police chief, said that on Saturday President Obama had ordered that authorities take strict action against those who break laws. Arson attacks on parliament buildings follow Friday's deadly demonstration in Makassar (capital of South Sulawesi Province) that left three dead and five wounded. Metrotvnews.com, a local media outlet in Makassar, reported a second death as a result of the fire at the parliamentary building. This report could not be independently verified. In a statement released earlier Saturday, the disaster management agency did not give any details about the deaths in the Friday fire. However, state news agency Antara reported that the victims were trapped inside the burning building. Two people were injured when they jumped out of the burning building. Local media reported that there were also protests on the island of Bali, at the police headquarters. The police reportedly used tear gas against the demonstrators. Transjakarta, a Jakarta-owned bus company, was also affected by the disruption. Reporting from Makassar by Abd Rahman Muchtar; writing by Stefanno Sulaiman, editing by William Mallard
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New $250 visa fee risks deepening US travel slump
The new $250 visa integrity fee imposed on foreign travelers entering the United States could put more pressure on a struggling travel industry. This is because overseas arrivals are continuing to decline due to President Donald Trump’s immigration crackdown and his hostility towards many countries. According to U.S. Government data, overseas travel to the U.S. decreased 3.1% on an annual basis in July. This amounted to 19.2 millions visitors. This was the fifth consecutive month of declines this year. It defies expectations that inbound visitor numbers would surpass 79.4 millions by 2025. The new visa fee is set to take effect on October 1. This will add an extra hurdle for travelers coming from countries that do not have visa waivers, such as Mexico, Argentina and Brazil. According to the U.S. Travel Association membership organization, the extra fee brings the total visa to $442. This is one of the most expensive visitor fees in the entire world. Gabe Rizzi is the President of Altour a global travel company. He said that any friction we add will reduce travel volume by a certain amount. As summer winds down, this issue will become more urgent. We'll need to include the fees in travel budgets and paperwork. According to the World Travel & Tourism Council, international visitor spending is expected to drop below $169 billion in this year. This compares to $181 billion spent in 2024. The fee is a further indication of a negative perception about the U.S., under Trump. His immigration policies, reductions in foreign aid, and tariffs have all contributed to a decline in the appeal of America as a tourist destination, even though major events such as the FIFA World Cup 2026 and the Los Angeles Olympics 2028 are on the horizon. Wednesday, the Trump administration proposed a government regulation aimed at tightening the duration of visas granted to students, cultural exchange guests and media members. The administration announced in early August that the U.S. would require bonds up to $15,000 on some tourist and business Visas. This pilot program will run for about a year. It is an attempt to crackdown on visa overstays. Tourism Economics, a consultancy from Oxford Economics, predicted in December 2024, that travel to the U.S. by overseas citizens in 2025 will increase more than 10% annually. Aran Ryan is the director of Tourism Economics' industry studies. He said that it was on track to decline 3%. Ryan stated, "We view it as a sustained backward and we expect that much of it will be in place across the entire administration." HARDEST HIT The new visa fee will likely hit Central and South American nations the hardest, as they have been an exception for U.S. travelers this year. According to the National Travel and Tourism Office, the number of Mexicans traveling to the U.S. is expected to increase by nearly 14% between May and 2025. The number of arrivals from Argentina has increased by 20%, and those from Brazil have increased by 4.6%. Travel from Central America and South America increased by 3% each, while Western Europe saw a 2.3% decline. Arrivals in China have been muted ever since the pandemic. July figures are still 53% lower than 2019 levels. Visa fees also threaten travel from India. Visits to India are down by 2.4% this year due to a drop of nearly 18% in students. Some will simply absorb the increase in fees as another expense in an already costly trip to the U.S. The U.S. is selective in its visitors. "If your financial status isn't good enough, it will be difficult to get a visa," said Su Shu of Moment Travel, a Chinese company in Chengdu. U.S. tourists are concerned about the stricter requirements that may be imposed overseas, as foreign visitors pay higher entry fees. James Kitchen, owner and travel agent of Seas 2 Day & Travel, confirmed this concern. Kitchen stated that "Travelers expressed concerns about reciprocal fees which may be imposed over the next few months".
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Three people killed as Indonesian protesters burn down regional parliament building
Authorities said that three people were killed and five injured after protesters in Indonesia set fire to the regional parliament building. The demonstrations are the first big test for President Prabowo's Subianto government. In a press release, the disaster management agency of Southeast Asia did not mention the cause of death in the fire that broke out in Makassar on Friday evening, the capital city of South Sulawesi Province. Antara News Agency reported that the victims were allegedly trapped in a burning building. Two of the injuries were caused by people who jumped out of the burning building, according to the disaster agency. The protests in Indonesia's Jakarta began this week, over the pay of lawmakers. They grew on Friday when a police armored vehicle struck and killed a motorbike driver. Prabowo visited the driver's home late Friday night, offering his condolences to the parents of the deceased and promising to supervise the investigation. Local media reported looting and damage in Jakarta to several transport facilities on Friday. Demonstrations were also reported in Bandung and Yogyakarta, two major cities. The mass rapid transit railway in Jakarta said that trains would not stop at a station near the protest site on Friday, and Transjakarta, a bus service owned by the Jakarta Province said it could not serve its customers. On Saturday, there were no signs of immediate protest.
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Spirit Airlines, the pioneer of low-cost airlines, is seeking its second bankruptcy in a matter of months
Spirit Airlines, the pioneer of no-frills air travel in the United States, filed for chapter 11 bankruptcy on Friday. Its turnaround efforts have been stalled by dwindling funds and mounting losses since it emerged from its previous Chapter 11 restructuring in March. Since March, when the carrier emerged from its first bankruptcy, it has struggled with stabilizing its operations. The airline announced on Friday that flights, sales of tickets, reservations, and operations would continue. Spirit Airlines had tried to rebrand itself as a premium airline in order to keep up with the post-pandemic trends of travel that have challenged ultra-low cost model's viability. Spirit's recovery has been further hampered by the uncertainty caused by President Donald Trump's budget cuts and tariffs, which have reduced domestic airfares and cooled consumer expenditure. The airline had to raise its prices going-concern There were doubts in the beginning of this month. Dave Davis, CEO, said: "Since our previous restructuring which focused exclusively on Spirit's funded loan and raising equity capital has been completed, it is clear that much more work needs to be done. There are many other tools available to position Spirit best for the future." First, the Florida-based airline sought You can also find out more about bankruptcy After years of losses, failed merge bids, and mounting debt, the airline filed for bankruptcy protection in November, becoming the first U.S. major carrier to do so since 2011 The company posted a net loss of $1.2 billion last year. This was compounded by the failure of a $3.8-billion merger with JetBlue Airways, and RTX’s Pratt & Whitney engines that forced them to ground many Airbus aircraft. Spirit Airlines began as a trucking company in 1964, before moving into aviation in 1980s. Initially they flew leisure packages under the name Charter One Airlines. Spirit Airlines was rebranded in 1992. It quickly gained a reputation for being a low-cost carrier that caters to budget-conscious travellers who are willing to sacrifice extras such as checked baggage and seat assignments. The pandemic changed the travel industry, forcing ultra-low cost carriers to adjust. (Reporting and editing by Sriraj Kalluvila, Maju Samuel, and Shivansh Tiwary from Bengaluru)
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Trump cancels 679 Million Dollars in Federal Funding for Offshore Wind Projects
The Trump administration announced on Friday that it would cancel $679 million of federal funding for 12 projects involving offshore wind, including $427 for a California project. This is just the latest move in an aggressive campaign by the Obama administration to weaken an industry that played a central role in former President Joe Biden’s climate and energy agendas. U.S. Transportation secretary Sean Duffy stated that the awards made during the Biden administration were a waste "that otherwise could have been used to revitalize America's maritime sector." The Department of Energy awarded $427 Million to Humboldt County in California to build a new maritime terminal for construction and maintenance offshore wind turbines. Humboldt Bay was to be the Pacific Coast's first offshore wind terminal. The funds were intended to revitalize a defunct maritime terminal that would be used for wind-turbine assembly, launch, and project staging. A spokesperson for California Governor Gavin Newsom condemned the action, saying that it was an example of how the Trump administration is "attacking clean energy projects and infrastructure projects" - harming businesses and killing rural jobs and ceding America's economic future to China. The Department of Energy also cuts a $47,000,000 grant for an offshore manufacturing and logistics hub near the Port of Baltimore, Maryland, and $48,000,000 for an offshore terminal project on Staten Island, New York, awarded in 2022. It also reduces $33,000,000 for a port development project in Salem Massachusetts to redevelop an industrial facility that was vacant for offshore wind projects. Massachusetts Governor Maura Maura Healey stated that canceling the Salem grant would cost 800 construction workers jobs. She said that the Trump administration was wasting money by canceling tens millions of dollars from a project already underway to increase our energy supplies. After two major cancellations, U.S. agencies including the Departments of Defense, Energy and Commerce are reviewing the offshore wind farms that were approved by the Biden Administration along the Atlantic Coast. Transportation Department has also cancelled major grants for California's high-speed rail system and other infrastructure projects that are environmentally friendly. (Reporting and editing by David Shepardson, Nichola Groom and Edmund Klamann.
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Southwest Airlines begins flying the first plane with a secondary cockpit barrier
Southwest Airlines announced that it would begin flying on Friday its first jet equipped with a secondary flight deck barrier designed to prevent intrusions. The airline announced that the plane, a Boeing 737 MAX 8 recently delivered to them, will take its first flight from Phoenix to Salt Lake City on Friday afternoon. Pilots unions argue that secondary barriers are essential to aviation safety. They have been sought since the September 11, 2001 attacks, which exposed the dangers of insufficient flight detection protection. This flight marks the start of the deployment of this safety feature on the new U.S. commercial aircraft fleet over the next few years. Boeing and Airbus have said they've begun delivering planes with barriers underneath. Regulation announced for 2023 This took effect on the Monday. The Federal Aviation Administration has agreed to a new agreement. Give airlines until July 2026 Use the barrier in new planes. The FAA has been informed by the majority of major carriers that they will not be using the barriers immediately and instead, take advantage the extension. Southwest Airlines has chosen to comply with the new regulations as soon as it takes delivery of new aircraft. It expects to receive about 25 more Boeing planes in this year, which will be equipped with the barrier. The FAA adopted security standards for the flight deck after the September 11 hijackings of four U.S. planes. These standards are designed to prevent forcible entry and unauthorized access. The rule requires that aircraft manufacturers install a second physical barricade on all new planes in use for commercial passenger services in the United States. Existing planes do not have to be retrofitted.
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Venture Global could soon produce LNG at Plaquemines from all blocks, according to filings
Venture Global's regulatory filings indicate that it could produce liquefied gas at Plaquemines in the near future from all of its blocks. The facility produces 27.2 million metric tonnes per year. According to a Federal Energy Regulatory Commission order, the company was granted permission to introduce nitrogen to Block 15 as a first step towards natural gas production. The move by the regulator followed an authorization on Wednesday to introduce natural gases at Block 18. Each block has two trains, which are also known as trains. According to regulatory filings, it had skipped Block 15 at first after being granted permission to start production at the rest of the facility. The second largest LNG plant in America is Cheniere Energy Sabine Pass. Venture Global expects to commission the plant in phases over the next two-year period, earning more liquefaction fees by selling early cargoes before supplying long-term clients such as Exxon Shell and Orlen. Venture Global didn't immediately respond to our request for comment. Plaquemines, which began producing LNG in December of last year, has increased its output each month. This is a big reason why the U.S. was able to export supercooled gas at record-breaking levels by 2025. LSEG data shows that on Friday, Plaquemines pulled 3.2 bcf, or nearly 20% of the gas produced by U.S. plants. Venture Global, a three-year-old startup, has grown into the second largest LNG exporter in America. The company will be number one when it finishes construction of CP2, a 28-mtpa LNG export facility in Louisiana. Plaquemines was the fastest greenfield LNG facility built in the U.S. It produced its first cargo less than three years after its approval. Curtis Williams, Houston Reporter; Nathan Crooks & Nita Williams, Editors
Shipping companies pull out of Hong Kong to avoid US-China risks
Some shipping companies move their operations discreetly out of Hong Kong, and remove vessels from its registry. Some shipping companies are making contingency planning to do this.
Six shipping executives have said that these low-profile actions are motivated by a fear that their vessels could be seized by Chinese authorities, or face U.S. sanction in the event of a clash between Beijing and Washington. The people said that the growing U.S. scrutiny over the importance of China’s commercial fleet to a potential military conflict, such as one over Taiwan, and Beijing's emphasis of Hong Kong's role in serving Chinese interests is causing concern in the shipping industry. Last month, the U.S. Trade Representative proposed imposing steep U.S. fees on Chinese shipping firms and other companies that operate Chinese-built ships to counter China's "targeted dominant" in shipbuilding and maritime logistic. Washington warned American companies in September about the growing risks associated with operating in Hong Kong. The U.S. has already imposed sanctions on officials who are involved in a crackdown.
Hong Kong has been the hub of shipowners for over a century, as well as brokers, financiers underwriters, and lawyers who support them. Official data shows that its maritime and port industries accounted for 4,2% of the GDP in 2022.
VesselsValue - a subsidiary company of Veson Nautical, a maritime data group - reports that the city's flag was flown on eight out of ten ships in the world.
Interviews with two dozen people familiar with Hong Kong including shipping executives and lawyers revealed a growing concern about the possibility that commercial maritime operations in Hong Kong could be caught up by forces outside their control if a U.S. - China military conflict occurs.
Many pointed out China's increased focus on national security goals, trade frictions, and Hong Kong's leader's broad powers to take control of shipping if necessary, as he is accountable to Beijing.
One executive who, like many others, was allowed to remain anonymous to discuss this sensitive subject said: "We do not want to be in the position where China is knocking on our door, requesting our ships, while the U.S. targets us from the other side."
Previously, the concerns of shipowners as well as their efforts to limit exposure to Hong Kong were not reported. In recent years the perception of risk has increased, in line with the tightening security environment in the Chinese-ruled area and the tensions between two of the largest economies in the world.
Turning Tide
To comply with safety and environment rules, commercial ships must be registered or flagged with a specific country or jurisdiction.
VesselsValue, an independent research firm, found that despite the influx of Chinese ships on Hong Kong's register, the number oceangoing vessels registered in the city dropped by more than 8% in January, from 2,580 in January 2004. Government data show a similar drop.
In 2023 and 2024 74 ships, mostly dry-bulk carriers, were re-flagged for Singapore and Marshall Islands. These vessels transport commodities like coal, iron ore, and grain. VesselsValue reports that 15 tankers and 7 container ships left Hong Kong's registry to fly these flags.
Hong Kong's ship registry has seen a dramatic decline in the last two years. Official data shows that it grew by 400% over the past 20 years.
Hong Kong's Government responded to questions by saying that it is normal for shipping companies, given the changing geopolitical, trade and economic circumstances, to review their operations. It is also normal for the numbers of ships registered to fluctuate over the short-term.
A spokesperson stated that Hong Kong will "continue to excel" as an international shipping center, highlighting a variety of incentives, such as profits tax breaks and environmental subsidies, for shipowners.
The spokesperson stated that neither the laws governing registry nor the emergency provisions empower Hong Kong's leader in commandeering ships to serve as part of a Chinese merchant navy.
When asked to comment on the concerns of industry players about how emergency powers from colonial times might be used during a conflict between the U.S. and China, the spokesperson declined. The provisions give the leader of the city "any regulation whatsoever", which includes taking control over vessels and property.
China's commerce and defence ministries did not respond to questions regarding the role of the merchant fleet in Beijing’s warfighting plan, the possible involvement of Hong Kong flagged vessels, or the concerns of commercial shipowners.
The U.S. Treasury declined to comment on potential sanctions, concerns of shipping executives, or the role played by Hong Kong-registered ships in a Chinese commercial fleet.
Lawyers and executives agree that ships can be reflagged in a variety of ways, including through the sale, chartering or redeployment on different routes.
Basil Karatzas of Karatzas Marine Advisors & Co in the U.S. said that Singapore was becoming the preferred domicile for businesses with less exposure to Chinese shipping or cargo trade. It offered many efficiencies including its legal system but also a lower risk than Hong Kong.
Singapore's Maritime and Port Authority stated that decisions regarding domiciles and flags were based on business considerations. The Maritime and Port Authority of Singapore said it had not noticed any "significant changes" in the number Hong Kong shipping companies moving operations or reflagging vessels to Singapore.
MERCHANT FLEEET
Executives and lawyers agree that Hong Kong's registry for shipping is highly regarded by the industry because of its high safety and regulatory standards. This allows its ships to easily pass through foreign ports. Many of China's international state-owned vessels now fly Hong Kong's banner.
According to PLA military studies and four security analysts, in a conflict these tankers and bulk carriers would be the backbone of the merchant fleet that supplies China's oil and food needs.
The U.S., on the other hand, has a very small shipbuilding industry. It also has far fewer vessels under its flag. Three analysts say that while China's growing state-owned fleet would be a target of the U.S. during a military conflict, Beijing would need other vessels in order to supply its needs, given its reliance on international shipping lanes and vast needs.
Donald Trump has been keeping a close eye on strategic maritime operations. Trump said in his January inauguration address that he would "take back" control of the Panama Canal from China. Trump did not provide specifics but his remarks focused on two Panama port operated by a Hong Kong conglomerate CK Hutchison Holdings subsidiary. The group did not respond to any questions regarding Trump's remarks, but agreed to sell the majority of the subsidiary's shares to a consortium led by BlackRock this week, giving U.S. interest control over the port. Trump said to Congress that his administration would create a shipbuilding office in the White House, and provide new tax incentives.
In a study conducted by the U.S. Congress in November 2023, it was stated that "cargo vessels typically transport 90% of military equipment required in overseas conflicts". The report noted that Chinese shipyards ordered 1,794 ocean-going large ships in 2022 compared to five in the U.S.
Merchant vessels played a crucial role in Britain's 1982 long-range operation to retake Argentina's Falkland Islands. Declassified CIA files show that UK-flagged ships operated out of Hong Kong, many of which were owned or controlled by Chinese firms, supplied communist Hanoi in the Vietnam War.
In 2013, President Xi Jinping outlined the need for a Chinese merchant fleet that would help to build China's maritime strength in a Politburo session.
In the past decade, Chinese military and government documents and studies have emphasized the dual-use value of China’s merchant ships.
According to state media, regulations enacted in 2014 required Chinese builders to build five types of commercial ships, including tankers and container ships, to be able to serve military requirements.
Since then, COSCO has seen a significant increase in its line.
Documents from COSCO show that China places political commissars, officers who make sure Communist Party goals are served, on nominally civil ships.
The U.S. banned COSCO subsidiaries in January for what they said were links with the Chinese military.
COSCO has not responded to any questions regarding its deployment of commissars, U.S. restrictions, or what role COSCO's ships -- including those with Hong Kong flags -- might play in wartime.
'REALLY DE-RISKED'
Hong Kong is still an important shipowners' base, despite geopolitical issues. Some shipowners are quietly hedging.
Taylor Maritime (London-listed) a company that was founded in Hong Kong, in 2014, has a much smaller presence in Hong Kong now after several strategic moves in the last few years.
It has been flagging its ships in Singapore and the Marshall Islands since 2021. The company has offices in London, Guernsey and Singapore.
A person with knowledge of the matter said that the firm "really reduced the risk of Hong Kong". This was due to investors' fears of a Chinese invasion in Taiwan and the Communist Party taking control of Hong Kong.
Taylor Maritime's spokesperson stated that the company initially moved its Asia-based teams from Hong Kong to Singapore to be closer to their clients.
Taylor Maritime, after acquiring Grindrod, a shipping company with an Asia office in Singapore and expanding its operations there, relocated certain functions from Hong Kong to Singapore, where it became the primary Asia hub.
Two people with knowledge of the situation said that Pacific Basin Shipping, a Hong Kong listed company, has always flagged its 110 bulk carrier fleet in Hong Kong. However, it is now preparing contingency plans for them to be registered elsewhere while it assesses possible risks.
Pacific Basin's spokesperson stated that the company constantly evaluated geopolitical risk but its fleet still flew the Hong Kong flag "which, at least for the moment, outweighs the challenges".
The spokesperson stated that "Being located in Hong Kong places us near China's 40% share of the global dry bulk export/import activity as well as close to Asia's strong industrial and economic growth regions."
Angad Banga said that shipping firms adjust contingency plans based upon risk assessments, but he has not heard of concerns regarding the commandeering vessels.
Banga said that although some organizations may be re-evaluating their operational strategies, they do not see a widespread exodus from Hong Kong or a loss of confidence. The city, he added, remained attractive to maritime commerce.
Some industry figures have described a general unease in Hong Kong, which has affected their planning.
Three lawyers have said that, until recently, contracts for the increasing number of ships constructed in China that are financed by Chinese banks stipulated that the ship must fly the Hong Kong Flag.
Lawyers said that in the past two years some companies have added a disclaimer to their contracts, stating that they are willing to consider other flags as an alternative. Could not independently verify these changes. Beijing officials have stressed that Hong Kong is important in achieving national security goals. They also referred to China's modernisation of its military and refusal to abandon the use of force against Taiwan.
Three executives and lawyers said that the sweeping security laws, which were first implemented in Hong Kong in July 2021 and then strengthened in March 2020, have increased dangers.
Lawyers said that any attempt by Hong Kong’s leader to commandeer ships in an emergency could prove difficult, since locally registered vessels often travel routes far away from Hong Kong. They said that such powers, which have been in place for a long time, now needed to be seen through the lens of national security.
One lawyer stated that some shipowners would not object to a request from the government to hand over their vessels. This could be due to patriotism, or because they might profit by a crisis.
Another veteran lawyer said that it is "better to avoid being in a situation where you could be asked".
It was not an issue a few short years ago. The national security map has been redrawn. (Reporting and editing by David Crawshaw; Additional reporting by Andrea Shalal, Idrees, and Idrees in Washington and Beijing, Shanghai, and Hong Kong;
(source: Reuters)