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UK jury: Captain attempted to change course prior to fatal tanker accident
A London court heard on Wednesday that the captain of a container vessel which smashed into a U.S. oil tanker last year off Britain's East Coast tried to alter course in order to avoid a fatal collision. Vladimir Motin's lawyer stated that the Russian captain of the Solong, who hit the Stena Immaculate tanker anchored in March 2025 and tried to turn off the autopilot but failed, shortly before the crash. Motin is facing trial at the Old Bailey, accused of gross negligence manslaughter. Mark Pernia is a 38-year-old crew member whose body was never found, but is presumed to be dead. Motin has not pleaded guilty. James Leonard, his lawyer, said that Motin was responsible for avoiding the collision and that "there is no doubt that this collision led to the sad death of Mr Pernia". Leonard continued, "On the basis of the defendant's failure to avoid a collision involving the Stena Immaculate there is no question that he was at fault." He told the jury that they had to decide whether Motin's fault was the cause of the accident and whether it was "grossly negligence as compared with anything less than that". CAPTAIN SAYS: HE TRYED TO CHANGE THE COURSE Leonard stated that Motin saw the Stena Immaculate on the radar of the Solong from "at least 9 nautical miles (16,7 kilometers) away", while the Solong was controlled by the autopilot. Motin said that when the Solong was about one nautical mile away from the Stena Immaculate he tried to manually change the course of the Solong. Leonard stated that there would have been a collision if he had changed his course the way he wanted to. He said that the jury would need to decide whether it was reasonable that Motin had waited until the Solong was a nautical mile away before he acted. Tom Little, the prosecutor, said that Motin did "absolutely" nothing to prevent the accident. Motin has pleaded guilty to gross negligent manslaughter. The trial should conclude by the end of next month. (Reporting and editing by Sam Tobin, Mark Heinrich)
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Construction-related accidents are on the rise in Thailand
A crane fell onto a train moving in the northeastern part of Thailand on Wednesday, killing dozens of people. This is just the latest in a string of construction accidents that have occurred in recent years. Other fatal construction accidents in Thailand March 28, 2025: A?partially constructed 30-storey Bangkok tower collapsed in a 7.7-magnitude quake which struck central Myanmar. At least 89 people were killed. Construction was carried out by Italian Thai Development PCL - a large construction company that was also involved in building the rail line at the time of Wednesday's accident. In?August, the president of ITD and 21 other suspects were charged with violating construction regulations as well as causing death by negligence. The case is still pending, and he initially denied the charges. On March 15, 2025, a bridge under construction on the Rama III - Dao Khanong expressway Project collapsed in Bangkok. At least five people died and?27 were injured. ITD was also a part of the joint venture for the?highway. The authorities launched an investigation, and the contractors offered compensation to the victims. In August, the incident led to the government introducing a system of "contractor reports cards" to improve oversight over companies involved in public infrastructure projects. August 24, 2024: Three workers were killed in a tunnel collapse in Nakhon ratchasima Province in northeastern Thailand. The same project that caused the incident on Wednesday was involved. The collapse took place during heavy rains in the'region. In an accident that occurred on November 29, 2024, four Myanmar workers and two Thai workers died in Samut Sakhon Province, south of?capital Bangkok. The accident happened at the construction site of a?elevated autobahn. A concrete segment and a crane fell during the construction of the elevated highway, causing six injuries. March 29, 2024: Seven people died and many were injured, including a person who lost a leg, when a crane collapsed on a construction site at a Chinese steel factory in Rayong Province in eastern Thailand. (Compiled by PanuWongcha-um, DevjyotGhoshal and Sharon Singleton; Editing by Sharon Singleton).
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After the Black Sea tanker attack, Kazakhstan calls on US and Europe to assist in securing oil transport
Kazakhstan called on Europe and the U.S. to secure oil transport after drone attacks on tankers headed to a Black Sea Terminal on the Russian coast that handles 1% of the global supply. Unidentified drones attacked at least two oil tankers in Tuesday's Black Sea, including a tanker chartered by U.S. major Chevron. They were sailing toward a terminal along the Russian coast that would load oil from Kazakhstan. In a press release, Kazakhstan's foreign ministry said that three tankers had been hit on their way to the Black Sea marine terminal for the Caspian Pipeline Consortium. Drones attacked CPC’s exporting equipment on November 29. This resulted in a drop in oil exports through the outlet. The ministry stated that "the increasing frequency of these incidents highlights the growing risk to the functioning international energy infrastructure". "We call on our partners to work closely together to develop joint actions aimed at preventing such incidents in the future," added the report. The Russian Defence Ministry said that on Wednesday, the Matilda Tanker, which was sailing under the Maltese Flag, was attacked by two Ukrainian strike drones. This attack took place at a distance between 100 km (62 miles) and the city of Anapa, located in the Krasnodar Region of Russia. Ukraine has not commented on the incident. CPC's 1,500 km (930 miles) pipeline is owned by KazMunayGas (Kazakhstan's state-owned oil company), Lukoil (Russia), and Chevron/ExxonMobil units. Russian terminals in the Black Sea process more than 2% global crude. The waters of the Black Sea, which are shared with Bulgaria, Georgia and Romania, Turkey and Russia, are crucial for grain shipping. CPC is responsible for the majority of Kazakhstan's oil exports. (Reporting and Writing by Anastasia Teterevleva, Vladimir Soldatkin. Editing by Mark Potter/Guy Faulconbridge).
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Report: Greek airspace blackout caused by old systems and not cyberattack
Investigators say that an eight-hour radio blackout at Greek airports last week, which forced authorities to clear airspace, was partially due to outdated communication systems. The issue revealed infrastructure gaps in this key tourist destination. A high-ranking government official resigned after the report of the investigative panel on Wednesday. On January 4, air traffic controllers lost touch with the majority of planes, which included dozens headed for Greek airports. Radio frequencies were also replaced by static. Experts in aviation said that the incident was unprecedented for a country in southern Europe. The key Telecom Infrastructure Based on Outdated Technology The report of the five-member investigation committee said that the cause of the outage is still unclear. Multiple systems went out of sync, leading to a scramble of communications between the airport towers and the planes. In response, a transport ministry official stated that Greece's system was in line with EU Standards. However, the ministry has implemented an upgrade plan which is expected to be complete in 2028. The unions have called for upgrades since years and say that the system is unsafe, particularly in light of the tourism boom, with millions of tourists flying to Greece each year. They said that the report vindicated their concerns on Wednesday. The AVIATION AUTHORITY'S GOVERNOR RETIRES In a statement released by the Greek transport ministry, George Saounatsos resigned as governor of Civil Aviation Authority on Wednesday. The current deputy governor George Vagenas will fill in until a replacement is appointed. The report stated that, while the incident was a "low-risk" one in terms of safety for flights, the Civil Aviation Authority’s voice communication system and the critical supporting telecom infrastructure are based on outdated technology. The report was submitted to the Transport Ministry and published late Tuesday. It stated that the infrastructure no longer has the support of manufacturers and is not operationally guaranteed. The report stated that the Greek telecom provider OTE has been warning the civil aviation authority since 2019 about the need for new circuits in its systems. It also recommended upgrading transceivers, among other changes. The report also recommended the creation of a crisis response mechanism between OTE and the Civil Aviation Authority. Reporting by Renee Maltezou, Editing by Sharon Singleton & Bernadette Baum
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Is the US Uranium Market about to go Nuclear in 2026? Maguire
The market for uranium, the primary fuel in nuclear power plants, is becoming tighter as reactor construction increases. This is setting up a price rally for uranium this year. Data from Canadian uranium mining company?Cameco showed that U.S. spot prices for the uranium sector ended 2025 around $82 per pound. This represents a rise of roughly $10, or 12%, from the end 2024. This is a significant increase compared with the well-over 100% increases in share prices in 2025 of prominent uranium miner and fuel suppliers, which were boosted by policies of the U.S. Government to revive nuclear energy production. While equities linked to the nuclear supply chains look like they will remain popular among investors, the industry is now focusing on the state of uranium which is experiencing a growing structural deficit due to the fact that consumption is exceeding production. The uranium shortage is being exacerbated by the surge in demand for electricity due to the AI-driven boom in data centres, as well as the construction of modular reactors. This is especially true in the U.S., where the mine supply has been at historic lows over the last decade. The U.S. mine uranium production is increasing again, but it is still only expected to be 1 million pounds in comparison to the 50 million pounds consumed annually by the U.S. The mismatch between supply and demand is causing the U.S. price of uranium to rise, a trend that may continue as 2026 progresses. While spot prices are still below $90 per pound, executives who track discussions between mine suppliers (mines) and power generators (power generators) have noted that "long-term contracts" are closer to $100. If deals are confirmed above or at the psychologically important $100 mark - which was last consistently exceeded in 2007 – that could help spark new momentum in spot markets and establish uranium among 2026's most exciting markets. STOCKS DRAWDOWN The U.S. uranium shortage was filled in recent years by imports from the secondary market. This includes stockpiles of utility material, decommissioned warheads, and left-over material at enrichment plants. The increased purchases of utilities and government agencies has now reduced those secondary supplies. In addition, restrictions on future uranium exports to a belligerent?Russia (which will be banned in 2028) have also narrowed sources for imports. The combination of lower stocks on the secondary market in the country and the restrictions on imports have led to a greater focus on the spot-market and any new but uncontracted outputs from uranium mining. Investors' increased uranium purchasing is further tightening supply imbalance and becoming a bullish market driver. The Sprott Physical Uranium Trust's (SPUT) Uranium Holdings - the largest fund in the world that stocks physical uranium- increased 9 million pounds, reaching a record of 72.5 million pounds by 2025. Investor holdings of fuel for the nuclear industry are expected to grow as the fleet expands and more reactors come online. This will give prices a boost. Record Nuclear Generation The world's output of nuclear electricity is likely to reach a record by 2025 after several major nuclear power plants reached all-time highs or multi-year peaks. Data from the energy think tank Ember revealed that nuclear-powered electricity supply in China, India South Korea and France will all rise to their highest levels for at least five year in 2025. The nuclear power industry in Japan has recovered after the Fukushima disaster in 2011. It is expected to continue growing in 2026 when the world's biggest reactor will be restarted in Niigata Prefecture. In 2026, new nuclear reactors will also be operational in China, India Turkey and the United States, which is expected to further increase the nuclear sector's appetite for uranium and boost total nuclear power production to new record highs. Power Pipeline Europe is home to the majority of nuclear power reactors in the world, with 39% located there. Global Energy Monitor data shows that Europe has a nuclear power generation capacity of around 157,000 megawatts. Asia is the next largest region in terms of nuclear power with 120,000 MW. North America follows closely behind at 117,000 MW. The nuclear pipeline is dominated by Asia, with 82,000 MW reactors being built globally, but 66,000 MW in Asia. Asia is also home to two-thirds (or 67%) of all nuclear power plants that are in pre-construction. This means the sites have already been chosen and permits obtained, but crews still haven't broken ground. GEM data shows that around 107,000 MW of power is in pre-construction worldwide, with 60,000MW in Asia, 36,600 MW Europe, 8,800 MW North America, and?4,000MW Africa. Asia will become the main nuclear hub once the plants under construction or in pre-construction have been completed. This batch has around 246,000MW?of the 590,000MW global nuclear power generation capacity. China is the leader in the nuclear sector with a capacity of around 65,000 megawatts, followed by India at 32,000 megawatts. Around 8,000 MW in the United States are in development. This would, when completed, represent a roughly 7 % increase in installed nuclear capacity. It is possible that, due to the aggressive policies being implemented in the U.S. Nuclear Sector, additional capacity plans may be developed in the future. This will in turn tighten up the country's supply of uranium and keep the price of uranium prone to surges for the foreseeable. These are the opinions of the columnist, who is also an author. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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Report: Greek airspace blackout caused by old systems and not cyberattack
Investigators in a recent report said that the eight-hour radio blackout at Greek airports, which forced authorities to clear airspace in the country and divert dozens of flights to other airports was partly due to an outdated communication system. On January 4, air traffic controllers were unable to contact most planes including dozens of aircraft heading towards Greek airports as the radio frequencies dropped and were replaced with static. Experts in aviation said that the incident was unprecedented for a country in southern Europe. The report of a five member investigating committee, commissioned by government, found that the exact cause of the problem, where multiple systems went 'out of sync', caused a scramble of communications between towers at airports and planes is still unclear. The report rated the incident "low risk" in terms of?flight security, ruled out cyberattacks and stated that pilots and air traffic controllers were able to respond effectively. The report was sent to Greece's Transport Ministry and published late Tuesday. It states that the voice communication system of the Civil Aviation Authority and its critical supporting telecommunications are outdated technologies, no longer supported and without operational guarantees. According to the report, "the Greek telecommunications company OTE has been warning civil aviation authorities since 2019 that their systems need new circuits." The report called for new transceivers, among other things. The report also called for the creation of an?emergency response?mechanism that would be shared between OTE and the Civil Aviation Authority. A transport ministry official said that Greece's systems were in line with EU Standards in response to the report. However, the ministry has implemented a plan for upgrading its systems, which is expected to be complete in 2028. Unions have called for upgrades since years but say that the system is unsafe, particularly in light of the tourism boom, with millions flying into Greece each year. They said on Wednesday that the report vindicated their protests. Reporting by Renee Maltezou, Editing by Edward McAllister & Sharon Singleton
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Wall Street Journal, January 14, 2019
These are the most popular stories from the Wall Street Journal. ? The accuracy of these stories has not been verified by the site. Saks Global, a high-end department store conglomerate, filed for bankruptcy protection on Tuesday night in what was one of the biggest retail collapses since pandemic. The Trump administration gave the formal green light on Tuesday to China-bound sales of Nvidia’s second-most powerful AI chip. They put in place a rule which will likely start shipments of?H200, despite concerns from China hawks?in Washington. Jamie Dimon, CEO of JP Morgan Chase, defended the Federal Reserve on Tuesday after it was subpoenaed to appear by the Justice Department. Dimon said that "anything" that undermines the independence of the central bank "is not a good thing." Netflix is planning to make a cash-only?offer on Warner Bros Discovery’s streaming and studio businesses. The U.S. government will invest $1 billion in the growing rocket motor business of L3Harris Technologies, ensuring a steady supply of?motors for a wide range missiles such as Tomahawks?and Patriot interceptors. The U.S. government will invest $1 Billion in L3Harris Technologies, a growing rocket motor company. This investment will ensure a steady supply of motors that are needed for many missiles including Tomahawks and Patriot interceptors. Diana Shipping has said that Genco Shipping & Trading's board rejected its bid to acquire the company without engaging with it.
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Is the US Uranium Market about to go Nuclear in 2026? Maguire
The market for uranium, the primary fuel in nuclear power plants, is becoming tighter as reactor construction increases. This is setting up a price rally for uranium this year. Data from Canadian uranium mining company Cameco showed that U.S. spot uranium prices in 2025 ended at $82 per pound, a rise of $10 or 12 percent compared to the end 2024. This is a far cry from the increase of over 100% that was seen in the 2025 share prices of major uranium producers and fuel suppliers, whose shares soared due to the U.S. Government's efforts to restart nuclear power production. While equities linked to the "nuclear supply" chain are likely to continue to be popular with investors, the industry is now focusing on the state of uranium which is experiencing a growing structural deficit due to consumption exceeding production. The uranium shortage is being exacerbated by the surge in demand for electricity due to the AI-driven boom in data centres, as well as the construction of modular reactors. This is especially true in the U.S., where the mine supply has been at historic lows over the last decade. The U.S. mine uranium production is increasing again, but it is still only expected to be 1 million pounds in comparison to the 50 million pounds consumed annually by the U.S. The mismatch between supply and demand is causing the U.S. price of uranium to rise, which could intensify by 2026. While spot prices are still below $90 per pound, executives who track discussions between mine suppliers?and power?generators?have noted that long-term contracts for pricing are closer to $100. If deals are confirmed above or at the psychologically important $100 mark - which was last consistently exceeded in 2007 – that could help spark new momentum in spot markets and establish uranium among 2026's most exciting markets. STOCKS DRAWDOWN In recent years, the U.S. supply deficit of uranium was filled by imports from the secondary market. This includes stockpiles at utility companies, decommissioned warheads, and material left over in enrichment plants. The increased purchases of utilities and government agencies has now reduced those secondary supplies. In addition, restrictions on future uranium exports from a belligerent Russia (which will be prohibited in 2028) have also narrowed sources for imports. The combination of reduced stockpiles in the local secondary market, and import restrictions has increased the focus on the spot-market and any new but uncontracted outputs from uranium mining. Investors' increased uranium purchase is further tightening the supply imbalance, and they are another driver of positive market sentiment. The Sprott Physical Uranium Trust's (SPUT) holdings of uranium, the largest fund in the world that stocks physical uranium, increased by 9 millions pounds to reach a record high of 72.5 million pounds by 2025. Investor holdings of nuclear fuel, which is needed to power the sector, are expected to grow as the fleet grows and more reactors start up. This will give prices a boost. Record Nuclear Generation The world's output of nuclear electricity is likely to reach a record by 2025 after several major nuclear power plants reached all-time highs or multi-year peaks. Data from the energy think tank Ember revealed that nuclear-powered electricity supply in China, India South Korea and France will all rise to their highest levels for at least five year in 2025. The nuclear power industry in Japan has recovered after the Fukushima disaster in 2011. It is expected to continue growing in 2026 when the world's biggest reactor will be restarted in Niigata Prefecture. In 2026, new nuclear reactors will also be operational in China, India Turkey and the United States, which will help to boost total nuclear power production to new record highs. Power Pipeline Europe is home to the majority of nuclear power reactors in the world, with 39% located there. Global Energy Monitor data shows that Europe has a nuclear power generation capacity of around 157,000 megawatts. Asia has the second largest nuclear footprint, with 120,000 MW. North America follows closely behind at 117,000 MW. The nuclear pipeline is dominated by Asia, with 82,000 MW reactors being built globally, but 66,000 MW in Asia. Asia is also home to two-thirds (or 67%) of all nuclear power plants that are in pre-construction. This means the sites have already been chosen and permits obtained, but crews still haven't broken ground. GEM data shows that 107,000 MW of power is in the pre-construction stage around the world. This includes 60,000 MW Asia, 36,000 in Europe, 8,0 MW North America, and 4,000 in Africa. Asia will become the main nuclear power hub in the world once the plants under construction or in pre-construction have been completed. This batch has around 246,000 MW out of the total 590,000MW nuclear power generation capacity. China is the leader in the nuclear sector with a capacity of around 65,000 megawatts, followed by India at 32,000 megawatts. Around 8,000 MW in the United States are in development. This would, when completed, represent a roughly 7 % increase in installed nuclear capacity. It is possible that, due to the aggressive policies being implemented in the U.S. Nuclear Sector, additional capacity plans may be developed in the future. This will in turn tighten up the country's supply of uranium and keep the price of uranium prone to surges for the foreseeable. These are the opinions of the columnist, who is also an author. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
Hydro & wind double act help protect Austria from Russian gas loss: Maguire
Austrian power generators are well placed to withstand the loss of pipeline gas products from Russia thanks to tape-record wind power output alongside the highest hydro generation total in over a years.
An agreement conflict between Russian energy giant Gazprom and Austrian gas importer OMV resulted in Gazprom cutting off 50 years of gas streams to OMV previously this month.
But energies in Austria are in a strong position to make do with just minimal gas supplies over the next numerous months, thanks to the continuous reconfiguring of the Austrian power system away from fossil fuels.
If Austria manages to shake off its loss of gas supplies right before winter season - when gas usage is generally greatest - it might be a fresh blow to Russian exporters who are already reeling from greatly lower sales to northern European markets.
A successful Austrian pivot away from gas could also function as a design template for neighbouring nations, which could feasibly also cut their collective gas usage and balance out power losses with increased imports through their currently interconnected grids.
LARGE HYDRO
Austria's network of more than 3,000 hydroelectric power plants is one the biggest in Europe, and forms the backbone of Austria's power system by providing more than two-thirds of the country's electrical power.
Hydro electrical power output over the very first 10 months of 2024 is up 17% from the same months in 2023 and the highest in at least a decade, according to energy think tank Ash.
High rainfall in late 2023 and early 2024 helped lift Austria's reservoir levels to multi-year highs from the start of the year.
Heavy rains in September, which triggered localized flooding, then recharged the nation's pumped storage system ahead of winter season.
Electricity production from hydro dams was 4.15 terawatt hours (TWh) in October, according to Ember, up 65% from the very same month in 2023.
High hydro storage levels combined with continuing strong run-of-river hydro production implies power companies will have the ability to release high levels of hydro electrical power production in November as well.
And as winter is the peak duration of Austrian electrical power and power usage due to greater heating demand, these topped-up hydro resources will enable Austrian power companies to cut back on the use of natural gas over the near to medium term.
That will eat into total gas use by the country, as gas-fired generation usually peaks throughout winter when power firms utilize gas-fired generation to plug any hydro power shortages during the coldest months of the year.
WIND POWER
Greater wind power generation is likewise eating into gas demand in Austria.
Over the very first 10 months of 2024, wind electricity output in Austria was 7.7 TWh, which was 18% more than over the same period in 2023.
That total was also 2.5 times greater than gas-fired electrical power output over the very same duration, sealing wind farms as the second biggest source of Austrian electrical power behind hydro dams.
The timing of Austrian wind power production peaks is also working against gas use potential in the country, as wind speeds in main and southern Europe tend to peak throughout the winter when gas usage has actually historically been highest.
If wind speeds follow that seasonal trend again in 2024-25, wind generation should stay greater than gas generation throughout the coming winter season, which would damage general gas use in Austria at a vital time for the country.
In all, if Austria can successfully brush off the loss of gas flows right before winter season it would be a bitter blow to Russian gas exporters, as it would demonstrate a further damaging in gas reliance at the heart of Central Europe.
The mix of high hydro and wind production could also serve as a design template for surrounding countries, who remain in the midst of charting their own energy shift roadmaps and are likewise eager to cut reliance on energy imports.
Neighbouring countries Czech Republic, Hungary, Switzerland, Italy, Slovenia and Slovakia all have extensive interconnected grids with Austria, therefore could probably also make cuts to their cumulative gas intake and offset any power losses with increased regional imports.
The opinions revealed here are those of the author, a market analyst .
(source: Reuters)