22 days ago
A civilian cargo ship has sunk and its crew is missing after being attacked by drones in the Black Sea, Bulgarian officials say.
A second vessel - carrying grain - was also hit within Bulgaria's exclusive economic zone, Prime Minister Rumen Radev said. Its 18 crew were rescued.
Radev did not say who was behind the attacks, which come as Russia intensifies strikes in the Black Sea, particularly the eastern side, as part of its war against Ukraine.
Moscow has not commented on the latest incident, a day after it was accused by Ukrainian President Volodymyr Zelensky of striking a civilian vessel carrying corn. EU Commission President Ursula von der Leyen said the attacks were "unacceptable".
Air and sea drones were involved in the attacks at about 03:00 (23:00 GMT), some 70 miles (112 km) off the coastal town of Byala in eastern Bulgaria, Radev said.
#radev #carrying
A second vessel - carrying grain - was also hit within Bulgaria's exclusive economic zone, Prime Minister Rumen Radev said. Its 18 crew were rescued.
Radev did not say who was behind the attacks, which come as Russia intensifies strikes in the Black Sea, particularly the eastern side, as part of its war against Ukraine.
Moscow has not commented on the latest incident, a day after it was accused by Ukrainian President Volodymyr Zelensky of striking a civilian vessel carrying corn. EU Commission President Ursula von der Leyen said the attacks were "unacceptable".
Air and sea drones were involved in the attacks at about 03:00 (23:00 GMT), some 70 miles (112 km) off the coastal town of Byala in eastern Bulgaria, Radev said.
#radev #carrying
22 days ago
Halle Berry has been spotted with her 12-year-old son, Maceo, for the first time since her ex-husband, Olivier Martinez, made explosive claims that she had "physically abused" their child.
The actress was seen walking into a Sky Zone Trampoline Park in Los Angeles on Sunday alongside her fiancé, Van Hunt, and Maceo.
Halle was seen with Maceo for the first time since her ex made the allegations (@ GC Images)
Halle appeared relaxed in a black spaghetti-strap top, baggy green cargo pants and a cream-colored fedora, while Maceo opted for a white graphic tee and black shorts paired with Crocs and socks, and Van Hunt wore a black graphic tee and baggy blue jeans.
Halle was seen chatting with her son before he went to play indoor soccer at the venue while she watched on.
#black #hunt
The actress was seen walking into a Sky Zone Trampoline Park in Los Angeles on Sunday alongside her fiancé, Van Hunt, and Maceo.
Halle was seen with Maceo for the first time since her ex made the allegations (@ GC Images)
Halle appeared relaxed in a black spaghetti-strap top, baggy green cargo pants and a cream-colored fedora, while Maceo opted for a white graphic tee and black shorts paired with Crocs and socks, and Van Hunt wore a black graphic tee and baggy blue jeans.
Halle was seen chatting with her son before he went to play indoor soccer at the venue while she watched on.
#black #hunt
27 days ago
Robert Hays is opening up about losing his Malibu home and belongings in the devastating 2018 fire, escaping with only a few items
He and his now-wife Gina relocated to Hawaii shortly after, starting a new chapter in their lives
Hays will join the Airplane! live tour this fall, sharing behind-the-scenes stories and rare footage with fans
Actor Robert Hays is recounting the devastating Malibu fires that saw him lose his home and belongings and start a new life in Hawaii.
Speaking to PEOPLE in a recent exclusive interview, Hays, 79, shared how he fled the home with little more than a pair of cargo shorts.
#hays #belongings #devastating
He and his now-wife Gina relocated to Hawaii shortly after, starting a new chapter in their lives
Hays will join the Airplane! live tour this fall, sharing behind-the-scenes stories and rare footage with fans
Actor Robert Hays is recounting the devastating Malibu fires that saw him lose his home and belongings and start a new life in Hawaii.
Speaking to PEOPLE in a recent exclusive interview, Hays, 79, shared how he fled the home with little more than a pair of cargo shorts.
#hays #belongings #devastating
1 month ago
At the start of September, the global network of transportation partners that retail giant Amazon relies upon to process an average of between 15 and 17.2 million delivery orders per day was suddenly thrust into public attention.
A cargo plane operated by 21 Air ran off the runway at Miami International in a major accident that killed five people traveling in a van on a nearby road.
Since the Sept. 6 crash, Amazon suspended its operations with 21 Air, pending an ongoing investigation by the National Transportation Safety Board (NTSB). The retail platform said it made the choice after it "spent time supporting the investigation and reviewing some of the surrounding circumstances."
While operating with an unblemished safety record, another of Amazon's network of thousands of transportation partners ended up in the limelight this week when it filed for Chapter 11 protection in a Florida court, Tampa Bay Business Journal reported.
Launched out of Winter Haven in Polk County in 2005, CLJ Transporting is a cargo carrier and dedicated Amazon Freight Partner that had been running deliveries for Amazon within a 200-mile radius of Davenport in the central part of the state for more than a decade.
#amazon #network
A cargo plane operated by 21 Air ran off the runway at Miami International in a major accident that killed five people traveling in a van on a nearby road.
Since the Sept. 6 crash, Amazon suspended its operations with 21 Air, pending an ongoing investigation by the National Transportation Safety Board (NTSB). The retail platform said it made the choice after it "spent time supporting the investigation and reviewing some of the surrounding circumstances."
While operating with an unblemished safety record, another of Amazon's network of thousands of transportation partners ended up in the limelight this week when it filed for Chapter 11 protection in a Florida court, Tampa Bay Business Journal reported.
Launched out of Winter Haven in Polk County in 2005, CLJ Transporting is a cargo carrier and dedicated Amazon Freight Partner that had been running deliveries for Amazon within a 200-mile radius of Davenport in the central part of the state for more than a decade.
#amazon #network
1 month ago
The intelligence report, circulated across the US military this spring in the midst of the war with Iran, immediately set off alarm bells: A Chinese ship in the Middle East was transporting components of a nuclear weapons program.
The US military swung into action with plans to intercept the vessel, according to four sources familiar with the episode. According to two of the sources, armed members of the US military were preparing to board the ship. Military planes were in the air, one of those sources and another source familiar with the incident said.
It was only just before the planned operation that officials dug deeper into the report put together by a special operations command ****** yst and found it had been generated with the help of artificial intelligence (AI) — and that a chatbot the ****** yst had used inaccurately identified the material the ship was carrying. CNN was not able to learn what the misidentified cargo was.
The report, according to one of the sources, was “entirely false.” But it also “almost started a war,” the source said. Any US operation against a Chinese vessel could have risked spiraling into an armed conflict between the two nations.
Across the US military and the intelligence community, officials are pushing to weave AI into nearly every facet of their work, from ****** yzing the huge volumes of raw intelligence the US collects and selecting targets for strikes, to more mundane applications like managing budgeting, logistics and supply chains.
#intelligence #ship #familiar
The US military swung into action with plans to intercept the vessel, according to four sources familiar with the episode. According to two of the sources, armed members of the US military were preparing to board the ship. Military planes were in the air, one of those sources and another source familiar with the incident said.
It was only just before the planned operation that officials dug deeper into the report put together by a special operations command ****** yst and found it had been generated with the help of artificial intelligence (AI) — and that a chatbot the ****** yst had used inaccurately identified the material the ship was carrying. CNN was not able to learn what the misidentified cargo was.
The report, according to one of the sources, was “entirely false.” But it also “almost started a war,” the source said. Any US operation against a Chinese vessel could have risked spiraling into an armed conflict between the two nations.
Across the US military and the intelligence community, officials are pushing to weave AI into nearly every facet of their work, from ****** yzing the huge volumes of raw intelligence the US collects and selecting targets for strikes, to more mundane applications like managing budgeting, logistics and supply chains.
#intelligence #ship #familiar
1 month ago
Freight fraud risks and carrier vetting are the focus as Highway Chief Commercial Officer Michael Caney joins FreightWaves Today. He breaks down what brokers, carriers and shippers need to watch right now when onboarding and monitoring capacity.If you work fraud prevention, carrier compliance or network procurement, this conversation gets straight to the operational takeaway without the fluff.#FreightFraud #CarrierVetting #SupplyChain
Carrier-vetting platform Highway is putting its balance sheet behind its fraud-detection product: if a broker moves freight using Highway's guarantee standard and loses a load, Highway writes a check for $100,000. The company's chief commercial officer said the program covers the vast majority of carrier capacity in North America — and has paid out only once across roughly one million loads.
Of the approximately 175,000 carriers that move freight for freight brokers, Highway says more than 82% qualify for the guarantee tier. "What I would tell you is the industry keeps trying to solve for the bottom 18% of the market," the CCO said. "And what we're saying is if you will just move your freight to this cohort of carriers, which is the majority of capacity in North America, not only will you be fine, but Highway will stand behind it with a performance guarantee."
"The average cargo theft is not the $100,000, it's $250,000. This idea that a motor carrier can just show up and say, hey man, I'm gonna need this cargo, it's $250 grand, I'm good for it, is bananas."
The single payout to date stemmed from an identity-design flaw tied to California's non-domiciled limited-term licensing rules. A fraudulent carrier obtained a new license through California's process, resubmitted in Highway's system, and the alert dropped off before the bug was caught and fixed — costing Highway $100,000. The CCO described theft events as a "Swiss cheese" of compounding decisions rather than a single failure point, and said Highway continuously monitors for ownership changes, inbox compromises, and cyber anomalies within the guarantee framework.
#carriers #capacity #America
Carrier-vetting platform Highway is putting its balance sheet behind its fraud-detection product: if a broker moves freight using Highway's guarantee standard and loses a load, Highway writes a check for $100,000. The company's chief commercial officer said the program covers the vast majority of carrier capacity in North America — and has paid out only once across roughly one million loads.
Of the approximately 175,000 carriers that move freight for freight brokers, Highway says more than 82% qualify for the guarantee tier. "What I would tell you is the industry keeps trying to solve for the bottom 18% of the market," the CCO said. "And what we're saying is if you will just move your freight to this cohort of carriers, which is the majority of capacity in North America, not only will you be fine, but Highway will stand behind it with a performance guarantee."
"The average cargo theft is not the $100,000, it's $250,000. This idea that a motor carrier can just show up and say, hey man, I'm gonna need this cargo, it's $250 grand, I'm good for it, is bananas."
The single payout to date stemmed from an identity-design flaw tied to California's non-domiciled limited-term licensing rules. A fraudulent carrier obtained a new license through California's process, resubmitted in Highway's system, and the alert dropped off before the bug was caught and fixed — costing Highway $100,000. The CCO described theft events as a "Swiss cheese" of compounding decisions rather than a single failure point, and said Highway continuously monitors for ownership changes, inbox compromises, and cyber anomalies within the guarantee framework.
#carriers #capacity #America
1 month ago
By Siddharth Cavale
NEW YORK, Sept 15 (Reuters) - Oil prices settled $3 higher on Tuesday after shipping industry sources said crude loadings at Saudi Arabia's Red Sea export hub of Yanbu had been suspended and Riyadh had canceled some cargo deliveries to European customers, deepening concerns that disruptions to a critical oil-export route could persist for weeks.
Gains in U.S. West Texas Intermediate crude futures outpaced Brent on Tuesday, as fears that Saudi Arabia's supply troubles were widening sent investors rushing into U.S. crude as an alternative.
Brent finished up $3.07, or 2.9%, at $108.75 a barrel, while WTI closed up $4.44, or 4.38%, at $105.83 a barrel. Both contracts closed at their highest since May 19.
The port of Yanbu has taken on outsized importance for global supply since the U.S.-Israeli war on Iran caused the closure of the Strait of Hormuz, a critical waterway that was the conduit for one-fifth of the world's oil and liquefied natural gas supplies.
#brent
NEW YORK, Sept 15 (Reuters) - Oil prices settled $3 higher on Tuesday after shipping industry sources said crude loadings at Saudi Arabia's Red Sea export hub of Yanbu had been suspended and Riyadh had canceled some cargo deliveries to European customers, deepening concerns that disruptions to a critical oil-export route could persist for weeks.
Gains in U.S. West Texas Intermediate crude futures outpaced Brent on Tuesday, as fears that Saudi Arabia's supply troubles were widening sent investors rushing into U.S. crude as an alternative.
Brent finished up $3.07, or 2.9%, at $108.75 a barrel, while WTI closed up $4.44, or 4.38%, at $105.83 a barrel. Both contracts closed at their highest since May 19.
The port of Yanbu has taken on outsized importance for global supply since the U.S.-Israeli war on Iran caused the closure of the Strait of Hormuz, a critical waterway that was the conduit for one-fifth of the world's oil and liquefied natural gas supplies.
#brent
1 month ago
MiKargo247 is expanding its spot cargo insurance coverage to include strategic cargo theft under a new partnership with Verified Carrier.
The coverage is designed to address a growing category of freight fraud involving double brokering, carrier identity theft and fictitious pickups. Under the partnership, brokers using Verified Carrier can purchase MiKargo247 spot cargo insurance and have the strategic theft exclusion removed when the load is hauled by an eligible verified carrier. The companies announced the partnership Sept. 1.
Strategic cargo theft accounted for about 30% of reported U.S. cargo theft incidents in 2025, according to a June report from Munich Re Specialty and BSI Consulting. The report found that criminals are increasingly using deception, impersonation and other fraud-based methods to obtain freight rather than relying solely on physically stealing cargo from trucks or facilities.
The shift creates a challenge for brokers and insurers because fraudulent actors can make it difficult to determine who is actually hauling a load.
The FBI warned in April that cyber-enabled strategic cargo theft is increasing, with criminals using compromised accounts, fictitious companies and double-brokering schemes to divert legitimate freight. The agency recommended that transportation companies independently verify shipment requests and pickups before releasing loads.
#carrier #partnership #Companies
The coverage is designed to address a growing category of freight fraud involving double brokering, carrier identity theft and fictitious pickups. Under the partnership, brokers using Verified Carrier can purchase MiKargo247 spot cargo insurance and have the strategic theft exclusion removed when the load is hauled by an eligible verified carrier. The companies announced the partnership Sept. 1.
Strategic cargo theft accounted for about 30% of reported U.S. cargo theft incidents in 2025, according to a June report from Munich Re Specialty and BSI Consulting. The report found that criminals are increasingly using deception, impersonation and other fraud-based methods to obtain freight rather than relying solely on physically stealing cargo from trucks or facilities.
The shift creates a challenge for brokers and insurers because fraudulent actors can make it difficult to determine who is actually hauling a load.
The FBI warned in April that cyber-enabled strategic cargo theft is increasing, with criminals using compromised accounts, fictitious companies and double-brokering schemes to divert legitimate freight. The agency recommended that transportation companies independently verify shipment requests and pickups before releasing loads.
#carrier #partnership #Companies
1 month ago
Iran is deliberately targeting U.S. naval drones in the Strait of Hormuz to gather intelligence on American surveillance capabilities and learn how to evade U.S. defenses, drone experts warned Tuesday.
Tehran's strategy is coordinated, they said, and involves exposing critical insights into U.S. Navy theater operations in the world's most vulnerable maritime choke point even when classified data is uncompromised.
The warning came as tensions escalated in the Gulf region Sept. 14 after the U.S. military destroyed two Iranian small boats amid an attempted seizure by the Islamic Revolutionary Guard Corps (IRGC) of an American unmanned surface vessel (USV) patrolling the area, according to reports.
Us Military Attacks Iran In 'Self-defense Strikes' Over Weekend
A cargo ship sails in the Persian Gulf toward the Strait of Hormuz, Wednesday, April 22, 2026.
#Iran #sept
Tehran's strategy is coordinated, they said, and involves exposing critical insights into U.S. Navy theater operations in the world's most vulnerable maritime choke point even when classified data is uncompromised.
The warning came as tensions escalated in the Gulf region Sept. 14 after the U.S. military destroyed two Iranian small boats amid an attempted seizure by the Islamic Revolutionary Guard Corps (IRGC) of an American unmanned surface vessel (USV) patrolling the area, according to reports.
Us Military Attacks Iran In 'Self-defense Strikes' Over Weekend
A cargo ship sails in the Persian Gulf toward the Strait of Hormuz, Wednesday, April 22, 2026.
#Iran #sept
1 month ago
When people picture ***** e Exploration Technologies (NASDAQ: SPCX), the first things that likely come to their minds are its reusable Falcon rockets. What investors may not fully grasp is that ***** eX is building a three-headed machine across launch, satellite internet, and artificial intelligence (AI) computing.
Currently, ***** eX boasts a market capitalization of just under $2 trillion. The question I am wondering is whether the AI pillar can stretch that value toward $3 trillion without the broader story falling apart.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The short answer to that question is yes, it's possible. But it's not guaranteed. ***** eX's path to a $3 trillion market cap would have to run through cash flow that thus far has come from just one side of the business, but that now has a second engine quietly warming up.
The ***** e business was ***** eX's original foundation. This segment specializes in launching rockets -- the Falcon 9 and Falcon Heavy -- that carry NASA crews and cargo, as well as private company payloads.
#rockets
Currently, ***** eX boasts a market capitalization of just under $2 trillion. The question I am wondering is whether the AI pillar can stretch that value toward $3 trillion without the broader story falling apart.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The short answer to that question is yes, it's possible. But it's not guaranteed. ***** eX's path to a $3 trillion market cap would have to run through cash flow that thus far has come from just one side of the business, but that now has a second engine quietly warming up.
The ***** e business was ***** eX's original foundation. This segment specializes in launching rockets -- the Falcon 9 and Falcon Heavy -- that carry NASA crews and cargo, as well as private company payloads.
#rockets
1 month ago
On September 10, Tsakos Energy Navigation (NYSE:TEN) reported a first half of 2026 that reads like a fantasy year for a decades-old tanker operator. Net income hit $228 million, more than triple what the company earned over the same six months a year earlier, while diluted EPS climbed to $7.12 from $1.70. Behind those numbers sits a rare combination: a fleet locked into billions in forward earnings, war-driven cargo detours pushing rates higher, and a newbuilding bet that has already paid off before half the ships have even hit the water.
The earnings power came from two directions at once. The average time charter equivalent rate rose 41% to $43,503 a day in the first half, and profit-sharing contracts on nine large vessels brought in $71 million, up from just $10 million a year earlier. Even with six vessels pulled from service for scheduled dry docks, the fleet still ran at 96.5% utilization. Second-quarter results followed the same pattern, with net income of $139.3 million, which included a $38 million gain on ******* et sales, and earnings per share of $4.40 against $0.67 in last year's second quarter.
Tsakos is also sitting on a fleet renewal bet that already worked out. Since the start of 2023, the company has sold 20 tankers averaging 17.3 years old and replaced them with 35 vessels averaging just half a year old. Its 26-ship newbuilding program, contracted for about $3.1 billion, is now valued roughly 30% above that cost, and CEO Nikolas Tsakos said the VLCCs in that order book have nearly doubled in price since they were placed. With $466 million in cash and forward committed earnings of roughly $3.5 billion, management has room to raise its dividend, which already paid out $1.60 per share this year, and is weighing whether to redeem $120 million of 9.25% preferred shares, a move it estimates could add $0.30 to $0.40 to EPS.
That performance came against a backdrop the company would rather not have. President George Saroglou said vessels have been attacked, and seafarers hurt or killed trying to keep global trade moving through the Strait of Hormuz, where a ceasefire unraveled roughly halfway through its planned 60-day run and a US naval presence now tries to manage safe passage. Tsakos has chosen to route around the strait entirely rather than put crews through the toll those attacks take.
The cost side is climbing too. Bunker prices jumped about 25%, pushing first-half voyage expenses to $82 million from $68 million, and operating expenses rose to $111 million from $102 million on higher dry-docking costs and inflation. Total debt reached $2.1 billion at the end of June, up from $1.8 billion a year earlier, as the company finances its newbuilding program. And while profit-sharing revenue jumped, the operating days tied to those market-related contracts actually fell 22%, meaning a smaller slice of the fleet is left exposed to capture further spot-rate gains if the tanker market keeps running hot.
#billion
The earnings power came from two directions at once. The average time charter equivalent rate rose 41% to $43,503 a day in the first half, and profit-sharing contracts on nine large vessels brought in $71 million, up from just $10 million a year earlier. Even with six vessels pulled from service for scheduled dry docks, the fleet still ran at 96.5% utilization. Second-quarter results followed the same pattern, with net income of $139.3 million, which included a $38 million gain on ******* et sales, and earnings per share of $4.40 against $0.67 in last year's second quarter.
Tsakos is also sitting on a fleet renewal bet that already worked out. Since the start of 2023, the company has sold 20 tankers averaging 17.3 years old and replaced them with 35 vessels averaging just half a year old. Its 26-ship newbuilding program, contracted for about $3.1 billion, is now valued roughly 30% above that cost, and CEO Nikolas Tsakos said the VLCCs in that order book have nearly doubled in price since they were placed. With $466 million in cash and forward committed earnings of roughly $3.5 billion, management has room to raise its dividend, which already paid out $1.60 per share this year, and is weighing whether to redeem $120 million of 9.25% preferred shares, a move it estimates could add $0.30 to $0.40 to EPS.
That performance came against a backdrop the company would rather not have. President George Saroglou said vessels have been attacked, and seafarers hurt or killed trying to keep global trade moving through the Strait of Hormuz, where a ceasefire unraveled roughly halfway through its planned 60-day run and a US naval presence now tries to manage safe passage. Tsakos has chosen to route around the strait entirely rather than put crews through the toll those attacks take.
The cost side is climbing too. Bunker prices jumped about 25%, pushing first-half voyage expenses to $82 million from $68 million, and operating expenses rose to $111 million from $102 million on higher dry-docking costs and inflation. Total debt reached $2.1 billion at the end of June, up from $1.8 billion a year earlier, as the company finances its newbuilding program. And while profit-sharing revenue jumped, the operating days tied to those market-related contracts actually fell 22%, meaning a smaller slice of the fleet is left exposed to capture further spot-rate gains if the tanker market keeps running hot.
#billion
1 month ago
Philippine authorities said it could take weeks or months to identify victims of a ferry fire that killed 76 people last week.
"Most of them are already in a charred condition," Richard Allan Mangalip, a forensic specialist from the Philippine National Police, told reporters on Sunday. Family members have been asked to help identify victims with personal items or DNA samples.
The MV June Aster was heading from Manila to Coron in Palawan province, a popular holiday destination, when a fire started in its cargo hold and spread rapidly throughout the vessel.
Forty-three people survived the disaster, while 13 people remain unaccounted for, authorities said.
Mangalip said they were "trying [their] best to collect the possible identifying marks" from victims' remains.
#mangalip #authorities #national
"Most of them are already in a charred condition," Richard Allan Mangalip, a forensic specialist from the Philippine National Police, told reporters on Sunday. Family members have been asked to help identify victims with personal items or DNA samples.
The MV June Aster was heading from Manila to Coron in Palawan province, a popular holiday destination, when a fire started in its cargo hold and spread rapidly throughout the vessel.
Forty-three people survived the disaster, while 13 people remain unaccounted for, authorities said.
Mangalip said they were "trying [their] best to collect the possible identifying marks" from victims' remains.
#mangalip #authorities #national
2 months ago
By Ella Cao and Naveen Thukral
BEIJING/SINGAPORE, Sept 10 (Reuters) - China bought 14 to 15 cargoes of U.S. soybeans this week, or around 1 million metric tons, four traders told Reuters, as the world's top oilseed buyer steps up purchases ahead of Chinese President Xi Jinping's visit to Washington later this month.
The purchases take China's total U.S. soybean buying to nearly half of the 25 million tons the White House said Beijing had committed to annually through 2028.
Chinese state stockpiler Sinograin booked the cargoes for shipment from U.S. Gulf terminals between December and February, traders said.
Sinograin did not immediately respond to Reuters' requests for comment.
#cargoes #tons #purchases #ella
BEIJING/SINGAPORE, Sept 10 (Reuters) - China bought 14 to 15 cargoes of U.S. soybeans this week, or around 1 million metric tons, four traders told Reuters, as the world's top oilseed buyer steps up purchases ahead of Chinese President Xi Jinping's visit to Washington later this month.
The purchases take China's total U.S. soybean buying to nearly half of the 25 million tons the White House said Beijing had committed to annually through 2028.
Chinese state stockpiler Sinograin booked the cargoes for shipment from U.S. Gulf terminals between December and February, traders said.
Sinograin did not immediately respond to Reuters' requests for comment.
#cargoes #tons #purchases #ella
2 months ago
For nearly two minutes, one of the pilots of the Amazon cargo plane that careened off a Miami runway and killed five people repeatedly warned his counterpart they were going too fast as they approached for landing and after touchdown, according to flight information released Wednesday.
A summary of ******* pit voice recordings compiled by the National Transportation Safety Board said the fellow pilot never gave "a consistent verbal response" to the warnings. The plane touched down awkwardly, briefly attempted to take off and then smashed into a van carrying the five victims.
The Amazon plane came in fast on Sunday afternoon and then barreled roughly 1,300 feet (396 meters) past the end of the runway and smashed into a van carrying workers at a plane cleaning company before hitting a compact SUV as it slid across a public road before catching fire.
All five people who died were in the van. Five others were hurt, including two who remained in critical condition on Tuesday. The two pilots survived and were interviewed Wednesday by investigators.
At the point when the pilot first called out the plane was speeding, former FAA official Mike O'Donnell said the crew could have done a number of things to slow it down, including extending the spoilers, cutting the throttles and lowering the landing gear. Or the pilots could have just aborted the landing at that point and circled to try again.
#plane #wednesday
A summary of ******* pit voice recordings compiled by the National Transportation Safety Board said the fellow pilot never gave "a consistent verbal response" to the warnings. The plane touched down awkwardly, briefly attempted to take off and then smashed into a van carrying the five victims.
The Amazon plane came in fast on Sunday afternoon and then barreled roughly 1,300 feet (396 meters) past the end of the runway and smashed into a van carrying workers at a plane cleaning company before hitting a compact SUV as it slid across a public road before catching fire.
All five people who died were in the van. Five others were hurt, including two who remained in critical condition on Tuesday. The two pilots survived and were interviewed Wednesday by investigators.
At the point when the pilot first called out the plane was speeding, former FAA official Mike O'Donnell said the crew could have done a number of things to slow it down, including extending the spoilers, cutting the throttles and lowering the landing gear. Or the pilots could have just aborted the landing at that point and circled to try again.
#plane #wednesday
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2 months ago
Sept 7 - The US National Transportation Safety Board will hold a media briefing at 4 p.m. EDT (2000 GMT) on Monday to share its latest updates about Sunday's deadly Amazon Prime Air cargo plane crash at Miami International Airport, the agency said in a post on X.
Prime Air Flight 7598 overran the airport's diagonal runway shortly before 2 p.m. EDT and struck multiple vehicles on the ground, killing 5 people and injuring 5 more, including 3 who are in critical condition, officials said during a news conference on Sunday afternoon.
At least two people were trapped in vehicles that were struck by the plane, and the pilot and co-pilot were trapped inside the plane by the crash, said Miami-Dade Fire Chief Ray Jadallah.
More than 60 rescue units and about 200 personnel responded to the incident, Miami-Dade Fire Rescue said in a statement. As of late Sunday afternoon, emergency personnel were still dealing with a fuel leak from the aircraft, according to Jadallah.
The NTSB said in a post on X on Sunday afternoon that it had "launched a go team" to investigate the accident.
#prime
Prime Air Flight 7598 overran the airport's diagonal runway shortly before 2 p.m. EDT and struck multiple vehicles on the ground, killing 5 people and injuring 5 more, including 3 who are in critical condition, officials said during a news conference on Sunday afternoon.
At least two people were trapped in vehicles that were struck by the plane, and the pilot and co-pilot were trapped inside the plane by the crash, said Miami-Dade Fire Chief Ray Jadallah.
More than 60 rescue units and about 200 personnel responded to the incident, Miami-Dade Fire Rescue said in a statement. As of late Sunday afternoon, emergency personnel were still dealing with a fuel leak from the aircraft, according to Jadallah.
The NTSB said in a post on X on Sunday afternoon that it had "launched a go team" to investigate the accident.
#prime
2 months ago
Federal regulators said the two crew members aboard the Amazon cargo jet that crashed at Miami International Airport on Sunday survived the accident.
The National Transportation Safety Board (NTSB) provided the update during a Sunday press conference after officials said the cargo plane overran the runway and caught fire while landing. The crash killed five people and injured five others, authorities said Sunday.
The jet collided with two vehicles carrying at least eight occupants, according to NTSB Chairwoman Jennifer Homendy.
Seven of the victims were in a van that was struck and "torn apart" on airport grounds, Homendy said. The 2012 white Ford Econoline van was owned by Ocean Service Corporation, a contract cleaning company that provides services for airlines, she said.
Amazon Cargo Plane Overruns Miami Airport Runway And Strikes 'Multiple' Vehicles; 5 Dead, 5 Injured
#homendy
The National Transportation Safety Board (NTSB) provided the update during a Sunday press conference after officials said the cargo plane overran the runway and caught fire while landing. The crash killed five people and injured five others, authorities said Sunday.
The jet collided with two vehicles carrying at least eight occupants, according to NTSB Chairwoman Jennifer Homendy.
Seven of the victims were in a van that was struck and "torn apart" on airport grounds, Homendy said. The 2012 white Ford Econoline van was owned by Ocean Service Corporation, a contract cleaning company that provides services for airlines, she said.
Amazon Cargo Plane Overruns Miami Airport Runway And Strikes 'Multiple' Vehicles; 5 Dead, 5 Injured
#homendy
2 months ago
At least five people were killed and several others injured when an Amazon Prime Air cargo plane overran a runway at Miami International Airport on Sunday. Officials said the aircraft struck multiple vehicles before stopping near a parking lot, triggering a ground stop and widespread flight disruptions. NBC's George Solis reports and Tom Costello joins TODAY on the key questions federal investigators will be asking to determine what caused the crash.
#Miami #solis
#Miami #solis
2 months ago
A Prime Air cargo flight overshot the runway on Sunday while landing at Miami International Airport, killing at least five people and injuring five others.
#five
#five
2 months ago
An Amazon cargo plane crashed just outside Miami International Airport after it overran the runway while landing, according to the Federal Aviation Administration. The plane was arriving from Puerto Rico. Amazon spokesperson Kelly Nantel clarified that it was an Amazon flight operated by 21 Air and the company is working to support everyone affected. NBC News' George Solis reports.
#puerto
#puerto
2 months ago
Chinese refiners are paying a hefty premium for Russia's ESPO crude to replace Iranian crude that independent refiners were importing before the U.S. installed its naval blockade on the country.
East Siberia-Pacific Ocean crude, or ESPO, for delivery in November is trading at a premium of over $7 per barrel, with offers reaching as high as $10 per barrel over Brent crude, Bloomberg reported today, citing traders. The blend is loaded from Russia's Far East coast and can reach the buyers in China in less than a week, the publication noted.
China is the biggest buyer of ESPO crude, with a market share of 83% for the first seven months of the year. However, this share is down from 88% a year earlier. The change came amid stronger ESPO buying from Indian refiners, whose market share for the Far Eastern Russian crude blend went up from 12% to 16% for the first seven months of the year, according to data from Kpler and Vortexa. Total oil exports from Russia's Far Eastern port of Kozmino ticked up by 6% over the first seven months of the year.
India raised its ESPO imports due to the slump in overall Chinese oil imports between May and June, and the supply disruptions in the Middle East, which delayed many term cargoes Indian refiners were expecting in the early summer.
Normally, Indian refiners prefer the Urals blend but have now warmed up to ESPO even though it takes longer to reach its destinations in India and is costlier than Urals. However, the Far Eastern blend is a good backup option for Indian buyers in times of disruption, according to energy ***** ysts.
#year
East Siberia-Pacific Ocean crude, or ESPO, for delivery in November is trading at a premium of over $7 per barrel, with offers reaching as high as $10 per barrel over Brent crude, Bloomberg reported today, citing traders. The blend is loaded from Russia's Far East coast and can reach the buyers in China in less than a week, the publication noted.
China is the biggest buyer of ESPO crude, with a market share of 83% for the first seven months of the year. However, this share is down from 88% a year earlier. The change came amid stronger ESPO buying from Indian refiners, whose market share for the Far Eastern Russian crude blend went up from 12% to 16% for the first seven months of the year, according to data from Kpler and Vortexa. Total oil exports from Russia's Far Eastern port of Kozmino ticked up by 6% over the first seven months of the year.
India raised its ESPO imports due to the slump in overall Chinese oil imports between May and June, and the supply disruptions in the Middle East, which delayed many term cargoes Indian refiners were expecting in the early summer.
Normally, Indian refiners prefer the Urals blend but have now warmed up to ESPO even though it takes longer to reach its destinations in India and is costlier than Urals. However, the Far Eastern blend is a good backup option for Indian buyers in times of disruption, according to energy ***** ysts.
#year
2 months ago
On August 18, Commvault (NASDAQ:CVLT) expanded its Cloud Rewind platform, tripling the number of Microsoft Azure resource types it can protect and recover after a cyberattack or outage. The move follows the company's fiscal first quarter 2027 results, reported on July 28, when subscription revenue rose 16% year over year to $267 million. Together, the two updates show a company betting on cloud recovery as its next growth engine, even as some of the underlying numbers complicate that story.
Cloud Rewind sits at the center of that bet. The August update makes it three times more capable on Azure, reaching 62% of the enterprise-relevant resource types available on that cloud. The tool continuously discovers cloud resources, maps how applications depend on each other, and orchestrates rebuilding the infrastructure and configurations an app needs, not just its files. New Protection Groups tie application data and cloud configuration into one recovery workflow, and policy-based protection can auto-enroll resources by tag, region, and type instead of onboarding each one by hand. Allcargo Group, a logistics customer, said the tool let it restore its operational environment in hours.
That kind of speed lines up with how fast Commvault itself is growing: subscription annualized recurring revenue reached $1,054 million in the quarter, up 22% year over year, while SaaS revenue crossed $100 million for the first time, up 39%, and free cash flow jumped 71% to $51 million. Commvault also struck a multi-year deal with Microsoft to sell its resilience tools as a native service on Azure, and Gartner named it a Magic Quadrant Leader in backup and data protection for the 15th straight year.
The numbers also show where the strain sits. Commvault's GAAP operating margin was just 8.2% in the quarter, far below the 22.8% non-GAAP margin the company highlights, a gap wide enough to suggest real costs are being adjusted away. Guidance points to more of the same rather than acceleration: management expects second-quarter subscription revenue of $264 million to $268 million, essentially flat against the $267 million just reported, and it guided full-year non-GAAP EBIT margin to about 21%, below the 22.8% just posted.
Even the marquee Cloud Rewind expansion has a gap built in. Tripling Azure coverage still leaves the platform reaching 62% of enterprise-relevant resource types, meaning well over a third of what enterprises run on Azure sits outside its recovery net, and the announcement says nothing about extending that coverage to AWS or Google Cloud. For a company competing on breadth of recovery, that is a real limitation until it is addressed.
#year #recovery
Cloud Rewind sits at the center of that bet. The August update makes it three times more capable on Azure, reaching 62% of the enterprise-relevant resource types available on that cloud. The tool continuously discovers cloud resources, maps how applications depend on each other, and orchestrates rebuilding the infrastructure and configurations an app needs, not just its files. New Protection Groups tie application data and cloud configuration into one recovery workflow, and policy-based protection can auto-enroll resources by tag, region, and type instead of onboarding each one by hand. Allcargo Group, a logistics customer, said the tool let it restore its operational environment in hours.
That kind of speed lines up with how fast Commvault itself is growing: subscription annualized recurring revenue reached $1,054 million in the quarter, up 22% year over year, while SaaS revenue crossed $100 million for the first time, up 39%, and free cash flow jumped 71% to $51 million. Commvault also struck a multi-year deal with Microsoft to sell its resilience tools as a native service on Azure, and Gartner named it a Magic Quadrant Leader in backup and data protection for the 15th straight year.
The numbers also show where the strain sits. Commvault's GAAP operating margin was just 8.2% in the quarter, far below the 22.8% non-GAAP margin the company highlights, a gap wide enough to suggest real costs are being adjusted away. Guidance points to more of the same rather than acceleration: management expects second-quarter subscription revenue of $264 million to $268 million, essentially flat against the $267 million just reported, and it guided full-year non-GAAP EBIT margin to about 21%, below the 22.8% just posted.
Even the marquee Cloud Rewind expansion has a gap built in. Tripling Azure coverage still leaves the platform reaching 62% of enterprise-relevant resource types, meaning well over a third of what enterprises run on Azure sits outside its recovery net, and the announcement says nothing about extending that coverage to AWS or Google Cloud. For a company competing on breadth of recovery, that is a real limitation until it is addressed.
#year #recovery
2 months ago
India raised its purchases of Russia's Far East crude blend ESPO in the first seven months of the year as China backed out of the spot market in the first months of the Iran war and deliveries to India from the Middle East slumped with the closure of the Strait of Hormuz.
Total exports of the ESPO grade from Russia's Far Eastern port of Kozmino rose by 6% in January-July from a year earlier, Russian daily Kommersant reported on Wednesday, citing a report by Argus.
China remained the key buyer of ESPO crude, but its share of the shipments from Kozmino fell to 83% from 88%. At the same time, India's share of the ESPO exports increased to 16% to 12% in the first seven months of 2026, per data from Vortexa and Kpler cited in the report.
India raised its ESPO imports due to the slump in Chinese oil imports between May and June, and the supply disruptions in the Middle East, which delayed many term cargoes Indian refiners were expecting in the early summer.
The rise in Indian ESPO imports are due to logistics reasons and the Chinese pullback between April and June, according to Dmitry Prokofiev, director of external communications at NEFT Research.
#imports
Total exports of the ESPO grade from Russia's Far Eastern port of Kozmino rose by 6% in January-July from a year earlier, Russian daily Kommersant reported on Wednesday, citing a report by Argus.
China remained the key buyer of ESPO crude, but its share of the shipments from Kozmino fell to 83% from 88%. At the same time, India's share of the ESPO exports increased to 16% to 12% in the first seven months of 2026, per data from Vortexa and Kpler cited in the report.
India raised its ESPO imports due to the slump in Chinese oil imports between May and June, and the supply disruptions in the Middle East, which delayed many term cargoes Indian refiners were expecting in the early summer.
The rise in Indian ESPO imports are due to logistics reasons and the Chinese pullback between April and June, according to Dmitry Prokofiev, director of external communications at NEFT Research.
#imports
2 months ago
EuroDry (EDRY) has surged nearly 350% over the past year, driven by strong technical momentum and robust ***** yst sentiment.
Shares set an all-time high at the end of August 2026.
EDRY maintains a 100% "Buy" technical opinion from Barchart.
Analysts rate EDRY as "Strong Buy," but Morningstar flags it as 18% overvalued, highlighting the need for disciplined risk management.
Valued at $141 million, EuroDry (EDRY) is an owner and operator of drybulk vessels and a provider of seaborne transportation for drybulk cargoes. It operates 11 dry bulk carriers across the Ultramax, Kamsarmax, Panamax, and Supramax classes.
#edry #strong #barchart
Shares set an all-time high at the end of August 2026.
EDRY maintains a 100% "Buy" technical opinion from Barchart.
Analysts rate EDRY as "Strong Buy," but Morningstar flags it as 18% overvalued, highlighting the need for disciplined risk management.
Valued at $141 million, EuroDry (EDRY) is an owner and operator of drybulk vessels and a provider of seaborne transportation for drybulk cargoes. It operates 11 dry bulk carriers across the Ultramax, Kamsarmax, Panamax, and Supramax classes.
#edry #strong #barchart
2 months ago
By Andrew Gray and Andreas Rinke
BRUSSELS/BERLIN, Sept 2 (Reuters) - European Commission chief Ursula von der Leyen vowed on Wednesday to increase pressure on Russia, including with new sanctions, after an attempted drone attack at Leipzig/Halle Airport in Germany that she said showed Moscow's growing "recklessness".
Airport workers last month found a drone laden with explosives and a detonator at the airport, an important civilian freight and NATO logistics hub in eastern Germany that is also a base for several giant Ukrainian Antonov An-124 cargo planes.
Germany blamed Moscow for the attack, characterising it as part of hybrid warfare meant to intimidate and cause divisions in countries that have rallied around Ukraine since Russia's 2022 invasion.
Russia denies involvement. It says it will respond to what its foreign ministry spokesperson called "anti-Russian action", and summoned Germany's top diplomat in Moscow.
#airport #gray #andreas
BRUSSELS/BERLIN, Sept 2 (Reuters) - European Commission chief Ursula von der Leyen vowed on Wednesday to increase pressure on Russia, including with new sanctions, after an attempted drone attack at Leipzig/Halle Airport in Germany that she said showed Moscow's growing "recklessness".
Airport workers last month found a drone laden with explosives and a detonator at the airport, an important civilian freight and NATO logistics hub in eastern Germany that is also a base for several giant Ukrainian Antonov An-124 cargo planes.
Germany blamed Moscow for the attack, characterising it as part of hybrid warfare meant to intimidate and cause divisions in countries that have rallied around Ukraine since Russia's 2022 invasion.
Russia denies involvement. It says it will respond to what its foreign ministry spokesperson called "anti-Russian action", and summoned Germany's top diplomat in Moscow.
#airport #gray #andreas
2 months ago
By Ahmad Ghaddar, Enes Tunagur and Robert Harvey
LONDON, Sept 1 (Reuters) - For the first time on record, Iran has gone about seven weeks without shipping meaningful crude exports through the Strait of Hormuz, as a U.S. naval blockade succeeds where years of sanctions failed by cutting off one of Tehran's main sources of foreign-currency earnings.
Unlike previous sanctions campaigns, when Iranian crude continued reaching buyers despite restrictions, the current blockade has stopped fresh crude cargoes reaching China, Tehran's only major remaining oil customer, increasing pressure on government finances and foreign-currency reserves.
Since the U.S. reinstated its blockade on Iran on July 14 as part of their six-month conflict, no Iranian crude cargoes have successfully transited the Strait of Hormuz to China, according to Kpler, Vortexa and TankerTrackers.com.
As a result, Iran can only sell crude to China from floating storage in Asia, which it cannot replenish as crude accumulates aboard tankers inside the strait.
#crude #Iran #strait #sanctions
LONDON, Sept 1 (Reuters) - For the first time on record, Iran has gone about seven weeks without shipping meaningful crude exports through the Strait of Hormuz, as a U.S. naval blockade succeeds where years of sanctions failed by cutting off one of Tehran's main sources of foreign-currency earnings.
Unlike previous sanctions campaigns, when Iranian crude continued reaching buyers despite restrictions, the current blockade has stopped fresh crude cargoes reaching China, Tehran's only major remaining oil customer, increasing pressure on government finances and foreign-currency reserves.
Since the U.S. reinstated its blockade on Iran on July 14 as part of their six-month conflict, no Iranian crude cargoes have successfully transited the Strait of Hormuz to China, according to Kpler, Vortexa and TankerTrackers.com.
As a result, Iran can only sell crude to China from floating storage in Asia, which it cannot replenish as crude accumulates aboard tankers inside the strait.
#crude #Iran #strait #sanctions
2 months ago
On August 28, Frontline (NYSE:FRO) posted the best quarter in company history, with net income of $659 million and adjusted profit of $580 million for the second quarter of 2026, up $235 million from the prior quarter. The gains came from tanker rates that climbed across every vessel class Frontline operates, from its largest crude carriers to its smaller product tankers. CEO Lars Barstad described a market with no playbook, one where geopolitical disruption is reshaping how oil moves around the world. The bigger question left hanging on the call is how much of that strength holds once the disruptions ease.
VLCC rates hit $153,000 per day in the second quarter of 2026, while Suezmax and LR2/Aframax vessels earned $111,000 and $92,400 per day. That strength has carried into the third quarter, where Frontline has already booked 86% of VLCC days at $157,000 per day, 79% of Suezmax days at $117,000 per day, and 70% of LR2 days at $81,000 per day, evidence that rates are holding rather than sliding back. The fleet backing those numbers is young and efficient, averaging 6.6 years old, fully eco-designed, and 69% scrubber-fitted, which keeps cash breakeven costs between $22,200 and $25,700 per day, well under what the ships are currently earning.
That spread between cost and rate is throwing off real cash. Management estimated annual cash generation potential at $2.3 billion, or $10.35 per share, based on rates as of August 28, a 24% yield against the current share price. The balance sheet has room to match it: $1.2 billion in liquidity, no debt maturities until 2030, and a refinancing that cut the average interest rate margin by 52 basis points to 1.26%. Frontline also collected $270 million selling two VLCCs at about $135 million apiece, with Barstad noting some buyers are paying premiums for older tankers just to control their own logistics chains.
Much of the current rate strength traces back to friction rather than growth in oil demand. Crude exports from inside the Strait of Hormuz are down 82% amid recent disruptions, and China's crude imports have fallen 35%, cushioned by inventory drawdowns rather than fresh buying. Barstad pointed to a 23% increase in VLCC idling days, driven by ship-to-ship transfers off Fujairah and Malaysia that can triple the distance a cargo travels before reaching its final buyer. That inefficiency is tightening effective fleet supply even as actual volumes shrink, which is a different story than genuine demand growth.
#million #vlcc #strength #rather
VLCC rates hit $153,000 per day in the second quarter of 2026, while Suezmax and LR2/Aframax vessels earned $111,000 and $92,400 per day. That strength has carried into the third quarter, where Frontline has already booked 86% of VLCC days at $157,000 per day, 79% of Suezmax days at $117,000 per day, and 70% of LR2 days at $81,000 per day, evidence that rates are holding rather than sliding back. The fleet backing those numbers is young and efficient, averaging 6.6 years old, fully eco-designed, and 69% scrubber-fitted, which keeps cash breakeven costs between $22,200 and $25,700 per day, well under what the ships are currently earning.
That spread between cost and rate is throwing off real cash. Management estimated annual cash generation potential at $2.3 billion, or $10.35 per share, based on rates as of August 28, a 24% yield against the current share price. The balance sheet has room to match it: $1.2 billion in liquidity, no debt maturities until 2030, and a refinancing that cut the average interest rate margin by 52 basis points to 1.26%. Frontline also collected $270 million selling two VLCCs at about $135 million apiece, with Barstad noting some buyers are paying premiums for older tankers just to control their own logistics chains.
Much of the current rate strength traces back to friction rather than growth in oil demand. Crude exports from inside the Strait of Hormuz are down 82% amid recent disruptions, and China's crude imports have fallen 35%, cushioned by inventory drawdowns rather than fresh buying. Barstad pointed to a 23% increase in VLCC idling days, driven by ship-to-ship transfers off Fujairah and Malaysia that can triple the distance a cargo travels before reaching its final buyer. That inefficiency is tightening effective fleet supply even as actual volumes shrink, which is a different story than genuine demand growth.
#million #vlcc #strength #rather
2 months ago
Europe is heading for the winter with one of the lowest levels of gas in storage in the past two decades as the war in the Middle East crippled LNG supply from Qatar, sent gas and LNG prices in Europe and Asia skyrocketing, and intensified competition for the shrunk pool of readily available global LNG cargoes.
A perfect storm of elevated demand for filling depleted storage and electricity during the summer heatwaves, and slashed global LNG supply with Qatar's cargoes trapped behind the Strait of Hormuz have pushed European benchmark prices to multi-month highs and LNG prices to the highest in three years.
The high prices, with front-month futures higher than those further out in time, have discouraged stockpiling for most of the summer. But Europe doesn't have a choice and needs to fight for gas to fill storage sites to reasonably adequate levels before December to avoid a winter supply crunch.
That's easier said than done. Competition from Asia is fierce for LNG supply that doesn't need to move through the Strait of Hormuz, and Europe is currently losing this race.
One potentially mitigating factor is that Europe now consumes about 10-15% less natural gas than it did in 2021 due to a higher share of renewables for electricity generation and industries adapting from an abundance of gas (including from Russia) to tight markets with elevated prices.
#Europe #storage #asia #hormuz
A perfect storm of elevated demand for filling depleted storage and electricity during the summer heatwaves, and slashed global LNG supply with Qatar's cargoes trapped behind the Strait of Hormuz have pushed European benchmark prices to multi-month highs and LNG prices to the highest in three years.
The high prices, with front-month futures higher than those further out in time, have discouraged stockpiling for most of the summer. But Europe doesn't have a choice and needs to fight for gas to fill storage sites to reasonably adequate levels before December to avoid a winter supply crunch.
That's easier said than done. Competition from Asia is fierce for LNG supply that doesn't need to move through the Strait of Hormuz, and Europe is currently losing this race.
One potentially mitigating factor is that Europe now consumes about 10-15% less natural gas than it did in 2021 due to a higher share of renewables for electricity generation and industries adapting from an abundance of gas (including from Russia) to tight markets with elevated prices.
#Europe #storage #asia #hormuz
2 months ago
Venture Global, Inc. (NYSE:VG) shares are drawing heightened attention following the release of its second-quarter 2026 financial results. The company delivered substantial growth across key operational and financial metrics, prompting management to raise its full-year 2026 Consolidated Adjusted EBITDA guidance to $8.7 billion–$9.1 billion (up from $8.2 billion–$8.5 billion). Driven by accelerating production from its Plaquemines LNG facility, Venture Global exported 127 cargoes and sold 466.4 TBtu during the quarter, a 42% surge in volume year-over-year.
For Q2 2026, Venture Global, Inc. (NYSE:VG) reported total revenue of $4.6 billion, up 48% from $3.10 billion in Q2 2025. Operating income soared 111% year-over-year to $2.2 billion, while net income attributable to common stockholders surged 266% to $1.3 billion ($0.51 diluted EPS vs. $0.14 a year ago). Consolidated Adjusted EBITDA reached $2.5 billion, marking a 79% jump compared to $1.39 billion in the prior-year period. Stronger implied liquefaction fees under commissioning sales agreements and tight cost controls allowed operating margins to expand to 47.8%. Additionally, the board declared a $0.04 per share cash dividend for Q3.
On August 12, Wells Fargo raised its price target on Venture Global, Inc. (NYSE:VG) to $15 from $14 while maintaining an Equal Weight rating. The firm noted Q2 was essentially in line with expectations, highlighting the company's raised 2026 guidance above consensus on higher market spreads. Wells cited higher underlying EBITDA estimates and a significant increase in Venture Global's dividend per share as key supporting drivers.
This brings up a core question: Does the guidance hike and operational expansion signal a lasting multi-year earnings transformation, or are investors exposed to project execution and leverage risks?
Proponents point to Venture Global, Inc. (NYSE:VG)'s strong profitability, expanding scale, and long-term contracted position. Rapid volume growth, evidenced by passing its 1,000th total exported cargo, proves operational capability, while 91% contracted cargo coverage for 2026 offers high cash flow visibility. Furthermore, management's recent refinancing efforts extend maturities and lower debt-service costs, offering a stable financial foundation to fund project build-outs like CP2 and maintain shareholder returns.
#billion #global #ebitda
For Q2 2026, Venture Global, Inc. (NYSE:VG) reported total revenue of $4.6 billion, up 48% from $3.10 billion in Q2 2025. Operating income soared 111% year-over-year to $2.2 billion, while net income attributable to common stockholders surged 266% to $1.3 billion ($0.51 diluted EPS vs. $0.14 a year ago). Consolidated Adjusted EBITDA reached $2.5 billion, marking a 79% jump compared to $1.39 billion in the prior-year period. Stronger implied liquefaction fees under commissioning sales agreements and tight cost controls allowed operating margins to expand to 47.8%. Additionally, the board declared a $0.04 per share cash dividend for Q3.
On August 12, Wells Fargo raised its price target on Venture Global, Inc. (NYSE:VG) to $15 from $14 while maintaining an Equal Weight rating. The firm noted Q2 was essentially in line with expectations, highlighting the company's raised 2026 guidance above consensus on higher market spreads. Wells cited higher underlying EBITDA estimates and a significant increase in Venture Global's dividend per share as key supporting drivers.
This brings up a core question: Does the guidance hike and operational expansion signal a lasting multi-year earnings transformation, or are investors exposed to project execution and leverage risks?
Proponents point to Venture Global, Inc. (NYSE:VG)'s strong profitability, expanding scale, and long-term contracted position. Rapid volume growth, evidenced by passing its 1,000th total exported cargo, proves operational capability, while 91% contracted cargo coverage for 2026 offers high cash flow visibility. Furthermore, management's recent refinancing efforts extend maturities and lower debt-service costs, offering a stable financial foundation to fund project build-outs like CP2 and maintain shareholder returns.
#billion #global #ebitda
2 months ago
By Marwa Rashad and Nora Buli
LONDON/OSLO, Aug 26 (Reuters) - Six months into the U.S.-Iran war, Qatar is among the conflict's biggest economic casualties, with its liquefied natural gas exports slashed by 96%, data shows.
Saudi Arabia, the UAE, Iraq and Kuwait have seen their oil exports hit, but by nowhere near as much.
Qatar has lost $24 billion in gas sales, which is about five months' worth of income for the country based on 2025 data, Reuters calculations show.
While neighbouring Gulf exporters have managed to sneak oil secretly out of the Strait of Hormuz, Qatar has exported just 18 LNG cargoes, down from 509 in the same period last year, according to data intelligence firm ICIS. Two Qatari tankers have been attacked.
#data
LONDON/OSLO, Aug 26 (Reuters) - Six months into the U.S.-Iran war, Qatar is among the conflict's biggest economic casualties, with its liquefied natural gas exports slashed by 96%, data shows.
Saudi Arabia, the UAE, Iraq and Kuwait have seen their oil exports hit, but by nowhere near as much.
Qatar has lost $24 billion in gas sales, which is about five months' worth of income for the country based on 2025 data, Reuters calculations show.
While neighbouring Gulf exporters have managed to sneak oil secretly out of the Strait of Hormuz, Qatar has exported just 18 LNG cargoes, down from 509 in the same period last year, according to data intelligence firm ICIS. Two Qatari tankers have been attacked.
#data
