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Belgium general strike disrupts public transport in Brussels
The general strike in Belgium that took place on Tuesday caused the majority of planes to be grounded at both main airports, and also disrupted the public transport system in Brussels. Brussels police estimate that 80,000 demonstrators marched between the Gare du Midi and Gare du Nord train stations in Brussels, crossing through the city center. Police detained a few dozen people following an incident that involved fires on the capital's main boulevards. The protest was part of a larger series this year that has been against government proposals to reform the pension system and labour market. A spokesperson for the airport confirmed that all flights scheduled to depart and land from Brussels International Airport were cancelled on Tuesday after the staff of the security company providing X-ray scanning walked out. According to the website, no planes are taking off or landing from Charleroi Airport, located 60 km (40miles) south of Brussels. In a social media post, STIB, the public transport operator, said that the strike had resulted in the closure of most of the underground, bus, and tram lines of Brussels. Thierry Bodson said that pensions are what really motivates people, on the French-language national radio station RTBF, on Tuesday. According to the website of FGTB, it has over 1.5 million members. Bodson said that the reform will not only reduce future incomes for retirees, but also create uncertainty because it changes how state pensions calculations are calculated. "The pension is too low for those who are physically active," said Michael Mary, 53. He was on a march in Brussels. People who wish to retire early would be subject to additional conditions under the planned reform. The retirement age will gradually be raised to 67. Strikers led by major unions in the country and supported by groups like Greenpeace and Oxfam are against the ruling federal coalition headed by Prime Minister Bart De Wever. The coalition announced a number of reforms aimed at cutting government spending. De Wever is the leader of a coalition dominated by right-wingers. He was appointed prime minister in Febraury and comes from the nationalist New Flemish Alliance. He pledged to cut deficits without increasing taxes, but faces challenges when it comes to finalising the budget for next year. (Reporting and editing by Charlotte Van Campenhout, Olivier Holmey, and Milan Berckmans)
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The German LNG import terminals
Germany has begun putting into operation natural gas import terminals as part of its efforts to replace Russian gas piped through the country following Moscow's invasion in Ukraine in 2022. The company is using floating storage regasification (FSRU) units to receive seaborne LNG. According to official data, this LNG accounted for 11% of German gas imports in the first quarter of 2025. In the long-term, Germany plans to build shore-based installations for the importation and production of green hydrogen. The latest news is summarized below: MUKRAN The LNG terminal in Ruegen, Baltic Sea, is operated by the private company Deutsche ReGas. It supplies LNG to onshore grids from Gascade's OAL link in collaboration with Norway's Hoegh Evi FSRU Neptune. The company wants to restart a FSRU and restore its full capacity of 13,5 billion cubic meters by 2027. ReGas, in long-term agreements, has launched a bid round to expand Mukran’s capacity. They are offering 5 bcm more per year between 2027 and 2043. It said that in September it had signed long-term agreements for regas capacities with the chemicals producer BASF, and Norwegian incumbent Equinor. S&P Global Platts has added Mukran to its benchmark price assessment for Northwest Europe LNG delivered ex-ship. LUBMIN ReGas, Hoegh and Gascade plan to turn the Baltic Sea port - a precursor of Mukran - into an ammonia/hydrogen terminal. Once it is completed, Gascade will connect with its customers. WILHELMSHAVEN Utility Uniper will launch Germany's first FSRU, Wilhelmshaven 1, in the North Sea by 2022. The vessel underwent maintenance from October 2 to 10 in preparation for winter. Uniper has plans to build a 200-MW electrolyser that will be powered by local wind energy and a land based ammonia reception terminal. After testing and preparation since May, DET began commercial operations at Wilhelmshaven 2 officially on August 29, via the Excelerate Energy operated FSRU Excelsior. Maintenance will take place between October 11-24. In July, all available slots for 2025 and 2026 regasification were assigned to gas market participants. Hanseatic Energy Hub took a final decision in 2024 to invest in a terminal that is ammonia ready and will be located at the Elbe River inland port. The terminal is expected to begin operations in 2027. The terminal will cost approximately 1 billion Euros ($1.16 billion). DET and HEH have cancelled their contracts after they could not resolve disputes over construction schedules or payments. BRUNSBUETTEL DET announced that the Brunsbuettel FSRU – the Hoegh Gannet – will undergo two-month-long upgrades starting September 17 and will be operational by the end of the winter season. The vessel was chartered initially by RWE's trading arm, before it was handed over to DET. The state has approved the support of 40 million euros for this facility. The terminal could begin operations by the end of 2026 when an adjacent ammonia facility, which was recently inaugurated, could also be operational. Reporting by Vera Eckert and editing by Alexander Smith. $1 = 0.8657 Euros
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Ex-Atlantia CEO faces up to 18 years in prison for Genoa bridge collapse, according to prosecutors
The Italian prosecution sought on Tuesday a sentence of 18-1/2 years in prison for the former Atlantia CEO Giovanni Castellucci, over the fatal 2018 collapse of an autobahn bridge in Genoa, a port city located to the northwest. The prosecution is continuing its closing arguments for the three-year case involving 56 defendants. These include employees and executives from the company responsible for the maintenance of the bridge and the Transport Ministry. Castellucci has already been in prison in Rome for six years, after a fatal accident in 2013, on a viaduct located in southern Italy. Atlantia's Autostrade per l'Italia unit, which operates the Morandi Bridge in Genoa (Aspi), collapsed the bridge during the height of summer holidays on August 14, 2018. The collapse killed 43 people and exposed the crumbling state of Italy's infrastructure. They face charges that range from multiple manslaughter, to false statements. All of them have denied the allegations. In 2022, the judge closed the case against Autostrade and SPEA, its maintenance subsidiary. The collapse of the bridge sparked a dispute that led to the sale in 2021 of Atlantia’s controlling stake in Autostrade. The collapse of the bridge was caused by the rupture of load-bearing cable inside the ninth pillar's stay, which had been eaten away over the past 51 years by a highly corrosion atmosphere. The prosecution claimed that the collapse of the building was due to years of inadequate, faulty or omitted maintenance in order to delay necessary repairs as long as possible and continue to pay dividends. Lawyers for the defence said that the collapse of the stay cable 9 was due to a construction defect which was not detectable and was unavoidable. Experts from civil parties said that structural problems had been previously identified in cables 10, 11, and then reinforced. It was therefore foreseeable that cable 9 could have experienced similar issues. In the months to come, after the prosecutors and civil plaintiffs present their closing arguments the defence lawyers of all defendants will present them. The first-instance decision is not expected to be handed down before spring 2026.
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Canada's Horizon Aircraft selects Pratt & Whitney engines for its hybrid aircraft
Horizon Aircraft announced on Tuesday that it has purchased the PT6A engine from Pratt & Whitney Canada for its hybrid vertical-takeoff aircraft. The Canadian firm, Cavorite X7, will incorporate the engine that powers thousands of commuters, agricultural and business aircraft around the world into its Cavorite aircraft. Horizon, a U.S.-based air-taxi firm, is betting on hybrid electric technology. Horizon also plans to manufacture the aircraft for emergency services, defense companies and commercial operators. Brandon Robinson, CEO of Brandon Robinson, said that hybrid aircraft have many advantages over all-electric designs. They can use warm air from the engine to de-ice and heat the cabin. He said that the aircraft's battery can be recharged en route in minutes. This allows for a complete charge to occur during landing. Cavorite X7 is capable of carrying up to 7 passengers, and can travel up to 880 km. Horizon plans on having certified aircraft in production before 2030. EVTOL companies, such as air taxi operators are racing to get approvals, build their supplier base, and launch their vehicles on the market to meet the demand for more efficient, sustainable urban transportation. Pratt & Whitney Canada, a subsidiary of the U.S. defense contractor RTX, is based in Canada. According to LSEG, Horizon Aircraft's market value is approximately $150 million based on its Monday closing price. (Reporting from AnshumanTripathy in Bengaluru, Editing by Sahal Muhammad)
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Azerbaijan and Kazakhstan are considering increasing oil transit via BTC by 7 million tonnes by 2027. Minister says
Azerbaijani Minister of Energy Parviz Shahbazov announced on Tuesday that Azerbaijani and Kazakhstan were considering a 7 million metric ton increase in oil transit through the Baku, Tbilisi, Ceyhan pipeline by 2027. Since 2023, BTC has transported 3.4 million tonnes of Kazakh crude oil to the global market. Opportunities are being considered to raise annual transit volumes to 7 million tons by 2027," Shahbazov told the 21st meeting of the Azerbaijan-Kazakhstan intergovernmental commission on trade and economic cooperation. Azerbaijan exported 18.4 million tonnes of oil via the Baku, Tbilisi and Ceyhan pipeline in January-August. This is a 5.3% decline from the previous year. Azeri BTC crude cargoes were found to contain organic chloride in July. This caused several days of delays in loading from Turkey's Ceyhan Terminal. Kazakhstan intends to export 1.7 millions tons of oil via BTC by the year's end, which is the same as 2024. BP operates the Azeri Chirag and Guneshli Oilfields. The BTC pipeline runs through Georgia into Turkey. Azerbaijan shipped 24.6 million tonnes of oil in the first eight month of this year, with 74.7% of that going through the BTC. This is according to the statistics committee of the country. Data showed that the volume of transit oil imported from other countries such as Kazakhstan and Turkmenistan via the BTC dropped to 2.887 millions tons from 3.584million tons during the same period in 2024. (Reporting and editing by Emelia Sithole Matarise; Nailia Bagirova)
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Europe's airline chiefs demand more support to meet green goals
The chief executives of Europe's airline companies called on the European Union to provide more support for green jet fuel, and for subsidies for its production. This year, the EU started requiring airlines use more sustainable aviation gasoline. The minimum blend mandate is set to increase to 6% in 2030. Luis Gallego said, "We have mandates, but we do not have sustainable aviation fuel," at a Tuesday press conference for the trade group Airlines for Europe. The group includes CEOs from Ryanair, easyJet, Air France-KLM and Lufthansa, as well as British Airways owner IAG. The CEOs stated that they would like more assistance from the European Commission to create a functional SAF market, as well as increased subsidies to encourage production of this fuel. SAF is currently three to five time more expensive than jet fuel. Kent Jarvis, CEO of easyJet, said: "If SAF were the same price as Jet Fuel, we would not need mandates." Willie Walsh, director of the airline trade group IATA, had earlier claimed that the oil industry was causing airlines to pay more through SAF surcharges. (Reporting by Joanna Plucinska; Editing by Kirsten Donovan)
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Belgium general strike disrupts public transport in Brussels
The general strike in Belgium that took place on Tuesday caused the majority of planes to be grounded at both main airports, and also disrupted public transportation in Brussels. The protest was part of a larger series this year that has been against government proposals to reform the pension system and labour market. A spokesperson for the airport confirmed that all flights scheduled to depart and land from Brussels International Airport were cancelled on Tuesday after the staff of the security company providing X-ray scanning walked out. According to the website, all flights have been cancelled at Charleroi Airport, located 60 km (40miles) south of Brussels. The Gare du Nord station in Brussels was packed with thousands of people who wanted to take part in a large demonstration which would cross the centre of the city. In a social media post, the public transport operator STIB revealed that the majority of underground, bus, and tram lines in Brussels were affected by the strike. The police reported that fires were set early Tuesday morning on several of the city's major boulevards. This caused further traffic disruptions in the city. The local media reported that several protesters were arrested by police. Strikers supported by Greenpeace, Oxfam and the main unions in the country are against the federal coalition headed by Prime Minister Bart De Wever. The coalition announced a number of reforms aimed at cutting government spending. Thierry Bodson said, "What really motivates us is pensions", on Tuesday, the French-language national radio station RTBF. Bodson said that the reform will not only decrease incomes for future retirees, but also create uncertainty because it changes how state pensions calculations are calculated. According to its website, FGTB has over 1.5 million members. De Wever of the nationalist New Flemish Alliance became Prime Minister in February. He now leads a coalition dominated by right-wingers. He pledged to cut deficits without increasing taxes, but faces challenges when finalising the budget for next year. (Reporting and editing by Charlotte Van Campenhout, Olivier Holmey and Inti Landauro)
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Greek strike against labour reforms disrupts transport, services
Workers walked out of work on Tuesday in protest at planned labour reforms, which include an extension of hours for the private sector. The walkout was the second in a month by the main unions of Greece's public and private sectors, GSEE, and ADEDY. It coincided with a vote on reforms proposed by the conservative government this week. As lawmakers debated this bill, thousands of striking workers including journalists, teachers and hospital doctors rallied and marched through central Athens. Protest rallies in major cities were planned across the country. The new draft law will allow private employers to ask their employees to work up to thirteen hours a day, instead of the eight currently required. The draft law also allows employers to be more flexible with short-term hires and changes the rules for distributing annual leave. According to the government, this bill allows employees to work up four days per week. According to the Labour Minister, it also protects employees from being terminated if they refuse overtime work and extends their benefit. Unions, however, say that it is a violation of workers' rights in a country with undeclared employment and low wages compared to other EU countries. This is despite the fact that pay has increased and unemployment has decreased after a crippling debt crisis between 2009 and 2018. Eurostat's data reveals that the purchasing power of Greeks is among the lowest within the European Union. According to Eurostat, the country has the largest share of EU employees who work more than 45 hours per week. The opposition parties demanded the withdrawal of the bill. "The 13-hour workday cannot be a reality." It's slavery, said Effie Achstsioglou of the New Left Party. (Reporting and editing by Renee Maltezou, Louisa Gouliamaki)
Thyssenkrupp renegotiates unit TKMS guarantees worth 10 billion euro before spinning off
According to a prospectus released ahead of TKMS’ separate listing, the warship manufacturer TKMS has renegotiated its terms for project guarantees with parent Thyssenkrupp. This indicates tougher conditions, as TKMS prepares itself for a standalone future.
Thyssenkrupp announced that it would spin off 49% TKMS by October 20. The prospectus, published late Monday, is the latest in ongoing restructuring efforts of the German conglomerate to highlight the increasing value of defense assets.
Thyssenkrupp is an engineering and steel group that has issued so-called "parent company guarantees" worth approximately 10 billion euros ($11.56billion) to TKMS. These are crucial in protecting the division's order.
The prospectus stated that Thyssenkrupp has charged a fixed fee of 85,000 Euros per guarantee provided to TKMS. This resulted in relatively stable costs for TKMS in 2022-2024 between 13,3 Million Euros and 15,3 Million Euros.
Thyssenkrupp sees the spin-off as a key step in its strategy to unlock shareholder values and provide TKMS with access to capital markets.
TKMS HAS SECURED 2.5 BILLION EUROS IN BANK GUARANTEES
The TKMS spin off prospectus stated that "in connection with the spin off, the terms of existing PCGs were renegotiated. This resulted in fixed annual fees payable by us to Thyssenkrupp AG, which are expected to increase year over year."
The new terms will be implemented in the year 2025, which begins in October. The number of projects covered by the guarantee was not immediately known.
TKMS will not be relying on such guarantees in the future, but instead will seek to reach other agreements with its clients and banks.
TKMS announced that it has secured bank guarantees worth approximately 2.5 billion euros, which will cover its requirements for the next year up to September 2027.
Jefferies, a brokerage firm, estimates that TKMS's shares could be worth around 36.55 euro each based on a 2.3-billion-euro valuation.
(source: Reuters)