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Telecom Italia CEO is confident about submarine units and tower stake sales

Posted to Maritime Reporter on August 1, 2024

Pietro Labriola, the chief executive of Telecom Italia (TIM), expressed his confidence in the sale of Sparkle, the company that owns the submarine cables unit and TIM’s remaining interest in INWIT, the telecom towers firm. TIM wants to earn around one billion euro ($1.1 billion)…

Ukraine economy minister visits Turkey to discuss free trade deal

Posted to Maritime Reporter on August 1, 2024

Svyrydenko, the Ukrainian Minister of Economy, arrived in Turkey on Thursday to discuss the ratification and strengthening economic co-operation with Ankara. Svyrydenko, a member of the X social network, said that the meeting also included expanding…

Russia continues to maintain its grain harvest forecast in spite of bad weather

Posted to Maritime Reporter on August 1, 2024

Dmitry Patrushev who is responsible for the agricultural sector, a deputy prime minister, confirmed that Russia's official grain crop forecast was 132 millions metric tons this year despite poor weather in many regions. The extreme weather conditions…

Huntington Ingalls, a US Navy shipbuilder, beats expectations in the second quarter

Posted to Maritime Reporter on August 1, 2024

Huntington Ingalls reported Thursday better than expected second-quarter earnings, due to increased global tensions driving up demand for amphibious assault vessels, submarines, and aircraft carriers. Virginia-based firm reported profit per share of $4.38 for the three months ended 30 June…

Olympic Rowing-New Zealand's sculls lead the rowing gold rush in Paris Games

Posted to Maritime Reporter on August 1, 2024

New Zealand, Romania and Netherlands won all the gold medals as the Olympic double sculls & fours competitions attained their climax in Paris on Thursday morning, after a thrilling race at Vaires-sur-Marnes Nautical Stadium. The Kiwi team of Brooke Francis…

Olympics: Swedish athlete hopes to win gold with lucky flag manicure

Posted to Maritime Reporter on August 1, 2024

Vilma Böbeck, a Swedish skiff sailer who has a longstanding tradition of matching the color of her nails with the kite sail's colour will hope that this ritual will bring the team Olympic Gold on Thursday. Bobeck, the Swedish woman's skiff's skipper…

ArcelorMittal S. Africa reports larger loss and hopes for a reduction in interest rates

Posted to Maritime Reporter on August 1, 2024

ArcelorMittal South Africa announced on Thursday that it hopes for a reduction in interest rates during the second part of the year, after its losses increased due to weakened demand. The company lost 1.11 billion Rand ($60 million), compared…

Olympic-Skiff Medal Race a Bonus for NZ’s Aleh and Meech

Posted to Maritime Reporter on August 1, 2024

New Zealanders Jo Aleh, left, and Molly Meech were about to celebrate their final sail when an official informed them that they were in the medal race for the women's sailing skiff. Meech, 31 said, "We thought it would be our last sailing in the 49er FX.

Canadian warship crosses Taiwan Strait and draws China's anger

Posted to Maritime Reporter on July 31, 2024

The Chinese rebuked Ottawa for the exercise, saying it undermined the peace. The Canadian defense ministry announced that the HMCS Montreal had recently conducted a routine passage through the strait. According to the minister of defence, this…

What's going on on the Sixth Day of Paris Games?

Posted to Maritime Reporter on July 31, 2024

On Thursday, all eyes will be on the Bercy Arena in Paris where American Simone Biles will try to add more medals to her already impressive collection. The athletics program begins with men's and woman's race walking and golf. In France there will be 18 medals to be won…

EIA: US crude gasoline stocks fall due to robust export demand

Posted to Maritime Reporter on July 31, 2024

The Energy Information Administration reported on Wednesday that U.S. crude and gasoline inventories dropped sharply during the past week due to strong export demand. The EIA reported that crude stocks fell by 3.4 millions barrels to 433,000…

Maeder, a Singaporean kite-medalist, is battling for Olympic medals in Formula One and chess.

Posted to Maritime Reporter on July 31, 2024

Max Maeder, from Singapore, describes "flying", or 'driving' a race car and playing chess at speeds up to 80 km/h in the Olympic sailing event's latest competition. Formula Kite's world champion, aged 17, hopes to be "among those who are more…

Olympics-France spared the blushes following Seine clean water test

Posted to Maritime Reporter on July 31, 2024

Olympians jumped into the River Seine after an early morning notice told teams the murky water was safe to continue with the triathlon. This spared France from the embarrassment that a Paris 2024 central promise would be swept away. It was promised…

Olympic debut women's windsurfing race abandoned due to waning winds

Posted to Maritime Reporter on July 31, 2024

The first women's marathon windsurfing race was called off on Wednesday after the wind weakened during an exhausting hour of sailing for Olympic sailors near Marseille. The race began with a spectacular start where the powerboat sped across in front to signify the beginning.

Norwegian Cruise raises its FY profit forecast on the back of resilient sea-holiday demand

Posted to Maritime Reporter on July 31, 2024

Norwegian Cruise Line Holdings raised Wednesday its profit projection for the full year for a record third time in this calendar year. The company attributed it to a sustained holiday demand on ships and higher prices for itinerary. In premarket trading…

Dutch fly in women's final pairs

Posted to Maritime Reporter on July 31, 2024

The Netherlands' Ymkje Claevering and Veronique meester sped into the final of the Olympic women's pair rowing event at Vaire-sur-Marne Nautical Stadium with the best time on Wednesday, as the hot weather from Tuesday gave way to cloudy skies.

Taiwan's MFIG purchases about 65,000 T of corn with Brazil as expected origin

Posted to Maritime Reporter on July 31, 2024

European traders reported that the MFIG buying group in Taiwan purchased about 65,000 metric tonnes of animal feed grain expected to come from Brazil during an international auction on Wednesday. They said that the yellow corn purchased was at a premium estimated to be 194.99 U.S.

Olympic-Megasports Events caught in the horns of Climate Change Dilemma

Posted to Maritime Reporter on July 30, 2024

Leading sports ecologists believe that the climate crisis is forcing organisers to face uncomfortable truths. As temperatures rise, golf courses slide into the ocean, alpine resorts are flooded, and football fields have been flooded. Wildfire smoke chokes athletes.

Heat tests the limits of green goals in Olympic Village

Posted to Maritime Reporter on July 30, 2024

Paris 2024 organizers hoped that their self-cooling Olympic Village Apartments would eliminate the need for air conditioning, allowing them to host the most environmentally friendly Games ever. Many delegations have decided to take no risks, despite the blazing temperatures in Paris.

Olympics-Sailing-Spain's men seize skiff lead from 'McKiwis' in breezier Med

Posted to Maritime Reporter on July 30, 2024

The SailGP duo from Spain, Diego Botin & Florian Trittel, took the lead in the Olympic Skiff Series on Tuesday overtaking New Zealand overnight leaders. They also jumped above Ireland at the top of the leaderboard. The 'McKiwis,' as they are known in New Zealand…