Latest News
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Tewolde Gebremariam is appointed as the new CEO of Air India
Air India appointed former Ethiopian Airlines Chief Tewolde Gebremariam to its 'CEO' post on Wednesday. The Indian airline is currently struggling with persistent losses, and increased regulatory scrutiny after a fatal crash last year. Gebremariam succeeds New Zealander Campbell Wilson. Wilson was a former Singapore Airlines executive who was appointed in 2022 as the new leader of Air 'India after it had suffered years of decline under state ownership. Air India reported that Wilson had informed Chairman N Chandrasekaran of his intention to step down in this year 2024. The 'Tata Group owned airline is suffering heavy losses, not only because of a heightened regulatory scrutiny following the '2025 crash but also as a result of operational disruptions caused by a conflict in the Middle East. These have increased costs and compounded effects from Pakistan banning airspace.
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Sources say that gasoline and diesel exports to Russia from Belarus reached a new record in July.
According to industry sources, and calculations, Belarusian gasoline and diesel supplies to Russia reached a monthly record in July. Fuel shortages were caused by unplanned outages at Russian oil refineries after months of relentless 'Ukrainian drone attacks. According to industry data and calculations, the Russian gasoline production had dropped early in July, to around 65% the average seasonal consumption. Diesel production had also fallen to the same level as domestic demand. The?Russian Government, in response to rising fuel prices at retail and wholesale, banned diesel exports. However, it allowed exemptions under previous contracts and intergovernmental agreements. Export restrictions for gasoline and jet fuel had already been implemented. Source data shows that gasoline shipments by rail from Belarus to Russia increased 13% from June to 212,000 tons. Diesel deliveries also doubled, reaching 162,000 tons. The total amount of jet fuel delivered from Belarus to Russia in July was 13,100 tonnes, compared with 16,100 tons in June. Belarus provides fuel to Russia from its two refineries that process Russian oil. They have a combined capacity of 24,000,000 tons per year or 480,000 barrels a day. In the first seven months of this year, the total amount of gasoline shipped by rail from Belarus into Russia increased 25-fold compared to the same period in 2025. Diesel deliveries also increased almost sevenfold, to 418 tons. According to industry sources, Russia has also begun importing gasolines from India, Kazakhstan, and Morocco.
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German police investigate drone discovered at Leipzig Airport, DHL operations impacted
Sources familiar with the incident said that a DHL cargo plane hit an unknown object while descending from Leipzig/Halle Airport in eastern Germany over night, which led to a 'unscheduled landing' in Hanover. The authorities said that they were investigating the drone, which was found overnight near a runway of the airport. According to the Bild newspaper, the drone contained a detonator. A spokesperson for the police said that the southern runway at the airport, which is a major hub of logistics company DHL, was closed as explosives experts examined a drone. The spokesperson stated that several aircraft, including one passenger flight, had been diverted overnight. However, operations returned to normal in the morning. German airports have been put on high alert following a series unauthorised drone 'overflights' at military installations, energy terminals as well as seaports and logistic companies. Federal police said that the drone?overflights may have been arranged by Russian agents. A DRONE WAS FOUND NEAR RUNWAY According to Bild, a drone containing a detonation device was found in the vicinity of an Ukrainian cargo plane just before midnight on February 2. One cargo plane was forced to abort landing while air traffic was diverted. The cargo plane then struck an unknown object, before landing in Hanover where minor nose damage was discovered. A spokesperson for the interior ministry confirmed that a drone was found at the airport, but gave no further details. European security agencies are investigating a number of incendiary devices that were hidden in parcels and caught fire in 2024. This has raised concerns about the sabotage of air cargo operators. Some of the devices have been found in a DHL facility in Leipzig, and in freight shipments traveling across Europe. Russia has denied any involvement. DHL Group CEO, Tobias 'Meyer, said that the German logistics company was still examining the overnight incident. Meyer stated during a call to discuss quarterly results that "we have plans for situations like this and will try to ensure the 'influence on our customers is as low as possible." Markus Wacket, Friederike Inverardi, and Miranda Murray contributed to the reporting. Thomas Seythal and Ludwig Burger edited by Sabine Wollrab, Kevin Liffey, and Thomas Seythal.
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Hungarians reduce power consumption as Danube water levels drop to record lows, causing an energy crunch
Hungarian households and companies have cut their electricity consumption in an unprecedented manner this week, following a government call to ease the pressure on the grid due to a severe drought. Some residents, standing at the historic Margaret Bridge's foot on the record-low Danube, said that climate change has finally become a reality. Hungary's sole nuclear power plant that uses the Danube as a cooling agent has been forced to close down largely due to the river levels. This has created an energy crisis, stretching Hungary's capacity to supply electricity to its limit, and imports are on the rise. The river levels can affect the plant's ability to run at 10% or more of its full capacity. It's sad and frightening, and it is a serious warning for society to be more careful with its resources... The Danube is a serious wake-up call," said Krisztina Németh, a resident of Budapest, who was wearing a straw cap to protect herself from the heat. People have created eerie cairns to mark this moment. The Prime Minister, Peter 'Magyar, has thanked households and companies who have reduced their electricity consumption by up to 700 megawatts each day during the peak consumption hours between 5 pm and 10 pm. He also wrote on Facebook that there are more difficult days ahead. Magyar stated that "the heatwave is expected to peak tomorrow and today... therefore voluntary reductions in electricity consumption are important between 5 pm and 10 pm." Switching off the air conditioning Unnamed energy analyst said that industrial users were responsible for most of the power saving. However, with the total demand now exceeding 7,000MW, 600MW would be equivalent to the amount saved by turning off one million air conditioners. Magyar reported that 837 large and medium power users had made voluntary cuts, while the state railway suspended freight transport from 5 pm to 10 pm. This translates into a daily saving of up to 90 MW. Authorities have said that decorative lights at a few famous Budapest landmarks were also turned off. Prime Minister said that households also did a good job. We try to use our air conditioners as little as we can at home. Electrical appliances are only used when they are absolutely necessary. Csongor, a Budapest-resident, said, "I think everyone should do the exact same thing." The voluntary savings made by households are even more impressive when you consider that the previous government heavily subsidised household energy bills, which was a system not conducive to decreasing consumption. The European Union recommended that Hungary end this scheme. Magyars' new government that took office in May has said so far it will "keep" the subsidies, and pledged to put?EU money into the grid. The OECD warned last month that Hungary's recurring flooding and droughts have high and increasing costs. Climate scenarios indicate that agricultural losses will increase and infrastructure disruptions are likely to occur. In a report published on July 27, it was stated that Hungary could be among the European countries most likely to suffer from severe droughts and river flooding in the future. (Reporting and editing by Hugh Lawson; Additional reporting by Balazs Kristof, Krisztina Feynyo and Krisztina Tán; Reporting by Krisztina Thán)
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Sinograin auctions off two-thirds its soybeans to make room for US cargoes
Sinograin, China's state stockpiler, sold 67% of its 501,000 metric tons of soybeans at a second auction held in recent weeks on Wednesday. The company is trying to make space for U.S. cargoes. Sources said that soybeans from the 2022-2025 crop sold on average at a price of 4,013.5 Yuan ($594.84) a ton. Deliveries are scheduled between October and December. Sinograin's?previous Friday auction -- the largest since January -- sold about half?the 504,000 metric tons of imported soybeans?at a price of 4,033 Yuan per ton. Traders have said that they expect the stockpiler state to continue auctions in the next few weeks. China is expected meet its commitment to purchase?25 millions tons of U.S. soy beans annually until 2028. The U.S. Department?Agriculture confirmed Tuesday private sales of 132,000?U.S. The U.S. Department of Agriculture confirmed private sales of 132,000 tons of?U.S. soybeans on Tuesday. Sources reported that the sale was made after Beijing purchased an unusually large amount of U.S. soya beans on Friday. On Monday, the?USDA confirmed a part of the deal.
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Russia claims to have struck seven Ukrainian warehouses that contained drone components
Russia said on Wednesday it had struck seven 'logistics centers in Kyiv, and the surrounding area overnight that were used to store or 'distribute goods for dual-use?and drones components.? And that its forces have hit three cargo vessels in the Black Sea. Could not independently verify the claims of the ministry about the nature and quantity of goods stored at the target sites. The attacks, which Ukrainian officials said killed at least fourteen people, were part an intensifying bombing campaign against what Russia claims are targets related to Ukraine’s drone forces. Since July 18, Ukrainian drones have attacked at least 20 warehouses owned by Russia's largest e-commerce retailer Wildberries, destroying many of them. They also continue to attack Russian oil refineries. Kyiv claims it is "bringing the war to the Russian people" and attempting to increase the cost of the conflict for Moscow. The Russian Defence Ministry reported that its forces have attacked four logistic centres in Kiev, including the Nova Poshta Innovation Terminal and Logistics Centre?which is described as the largest automated sorting center for dual-use items - those with both civilian and potentially military applications. The ministry said that its forces used long-range drones and ground-launched?strike missiles. The?ministry said that Russia also struck three warehouses around Kyiv including another major Nova Poshta?sorting compound which, it claimed, stored aircraft-style drones?and components. Defence Ministry: The three cargo vessels that Russia attacked were struck south of Odesa port. The Defence Ministry claimed, without providing any evidence, that the ships were delivering military hardware and weapons to the Ukrainian military. (Reporting in Moscow; Additional reporting by Jekaterina Glubkova in Tokyo. Editing by Andrew Osborn, Mark Trevelyan and Mark Osborn)
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Israel's El Al Airlines doubles second-quarter net profit despite Iran conflict
El Al Israel Airlines announced a doubling of its second-quarter profit on Wednesday. The airline cited recovery from the initial impact of fighting between Israel & 'Iran' despite a sharp increase in jet fuel prices. On February 28, the U.S., Israel and other countries launched airstrikes on Iran. During this time Iran fired missiles towards Israel. This effectively closed Israel's commercial airspace, forcing El-Al and its rivals to fly only limited routes. The conflict was briefly ended by a ceasefire on 8 April. Israel has not been dragged back into conflict despite the fact that Iran and the U.S. continue to attack each other. El Al has a near-monopoly in Tel Aviv as many foreign airlines are yet to resume their flights. This is similar to the situation during the Gaza conflict, when El Al held a near-monopoly. Gil Feldman, Chief Financial Officer, said: "We enter the second half of this year in a strong financial position. We have a solid and liquid balance sheet." The Israeli flag carrier reported a quarterly?net loss of $132 millions, up from $66million a year ago. It said that the $55 million hit was due to the conflict with Iran. The revenue rose from $777 to $986. It has a 'backlog of orders' worth $1.4 billion, based on advance bookings. The company plans to increase seat capacity up to 10% by the third quarter. The company has returned older Boeing 777 aircraft and added two 'Boeing 737' to its fleet of short-haul aircraft. Load factor for the?airline was 90% in the second quarter. This is down from 92% one year ago. According to CFO Feldman, "Based on our current business trends, order backlog, and the continued high demand we expect continued growth."
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German Police examine suspicious object at Leipzig Airport
German police are investigating a suspicious item?found on Wednesday near a runway at Leipzig/Halle Airport after an overnight security incident which temporarily disrupted the airport's operations. A police spokesperson confirmed that the southern runway at the airport, which is a major hub for the logistics company DHL, was closed while experts examined the object with 'explosives disposal technology. Authorities also investigated?reports that an unidentified flying object?could be linked to the incident. The spokesperson stated that several aircraft, including one passenger flight, had been diverted overnight. However, operations returned to normal the next morning. German airports have been put on alert following a series of unauthorised drone 'overflights' at sites including military installations, energy terminals and seaports. The German Federal Police?warned that the overflights may have been organised by Russian agents. Russia has denied any involvement in these incidents. (Reporting and editing by Thomas Seythal, Friederike Heine)
CPC oil loadings fail due to safety concerns and tanker shortages
The Caspian Pipeline Consortium suspended operations several times this week due to safety concerns and a shortage of tankers. This is because the main export route for Kazakh crude has been hit by drone attacks.
Since the middle of the last month, the loadings of the pipeline have been disrupted. The pipeline carries around 1.8% of the global oil supply, from Kazakhstan to Russia’s Black Sea Coast. This adds to the supply disruptions linked to the U.S. and Israeli war against Iran.
Sources said that the pipeline was only temporarily reopened this week and closed on Wednesday.
Shipowners are reluctant to embark on CPC voyages due to the possibility of drone attacks.
On Tuesday, the Russian group FESCO halted operations in the area. A CPC Blend seller said it took multiple attempts to find a ship to load a cargo during recent weeks.
The Russian Foreign Ministry accused Ukraine on Monday of attacking oil tankers at the terminal for the Caspian Pipeline consortium in Novorossiysk and claimed that Kyiv is trying to destabilise oil markets worldwide.
Kyiv did not claim responsibility for the incident or make any comments on why they may have expanded their campaign against Russia by targeting a pipeline which carries crude oil mainly produced by U.S. majors and European oil companies.
No one of the eight people we spoke to was able to be identified because they were not authorized to speak in public.
The Energy Ministry of Kazakhstan said that it was not considering a total shutdown of CPC operations and that everything was under control. On Wednesday, the ministry still had not responded to a?request for comment.
CPC declined to comment.
Kazakhstan is a landlocked country that relies heavily on Russian ports for exporting crude oil by sea. This means that disruptions to the pipelines and loading can cause?production reductions. When attacks on tankers increased in July, Kazakhstan's oil production?fell 14% compared to June.
Sources said that Tengizchevroil intends to export 100,000 metric tonnes of oil by rail in August to Georgia's Black Sea Port of?Batumi.
CPC Blend?differentials are weaker due to disruptions.
CPC blend cargoes for August loading were sold at a price nearly $4 per barrel lower than dated Brent last week. This is compared to the premium that was paid a few short weeks ago. Reporting by Robert Harvey, LONDON; and MOSCOW reporters; Editing by Barbara Lewis
(source: Reuters)