Tag: Energy (Page 6 of 8)

Canada’s Largest Railroad Hit by Strike, Trudeau in Hot Seat

November 19, 2019 / WIL BALDWIN

MONTREAL/WINNIPEG, Nov 19 (Reuters) – Thousands of workers at Canada’s largest railway went on strike for the first time in a decade on Tuesday, disrupting the shipping of commodities and sparking calls for Prime Minister Justin Trudeau’s Liberal government to intervene.

About 3,000 unionized workers of Canadian National Railway, including conductors and yardmen, hit picket lines after both sides failed to resolve contract issues at a time of softening demand for freight service. They continued talks on Tuesday in Montreal amid union concerns over fatigue, safety and ensuring that workers’ breaks are not reduced.

Canada, one of the world’s biggest exporters of farm products, relies on CN and Canadian Pacific Railway to move canola, wheat and other commodities over vast distances from western farms to ports. Crude oil shippers and the mining industry also depend on the railways.

The strike comes at an awkward time for Trudeau’s government, which relies on smaller parties to pass legislation and faces criticism from western provinces about its failures to get new oil pipelines built. Trudeau has said he is not reconvening Parliament until Dec. 5, and the government cannot start the process to force workers back on the job until then.

Andrew Scheer, leader of the Conservatives, the second-largest party in Parliament, and Alberta Energy Minister Sonya Savage each separately urged Trudeau on Twitter to recall Parliament immediately.

The Canadian mining industry, which accounts for more than half of annual rail freight revenues, depends on CN to transport supplies to company sites and products from their operations.

“This strike will result in a severe reduction or elimination of railway capacity and will trigger the closure of mines with concurrent layoffs of thousands of employees beginning in a matter of days,” said Pierre Gratton, president and CEO of the Mining Association of Canada.

“SCREECHING HALT”

Industry groups ranging from the Canadian Manufacturers and Exporters to propane and fertilizer groups said Ottawa needed to step in to limit damage to the economy.

The BC Council of Forest Industries, which represents the sector in British Columbia, expressed concerns about the disruptions caused by the strike for rail transport.

“Ninety percent of the forest products we produce are sent to export markets in North America and around the world,” Susan Yurkovich, the body’s president, said.

“A disruption of this critical transportation network will adversely impact BC forest companies at a time when we are already facing significant challenges and increasing competition from around the globe”, Yurkovich added.

CN and CP also collectively handle nearly all grain movement in Western Canada, the country’s crop belt, split roughly evenly between the railways.

The stoppage “has an impact before it even begins because companies pull back sales in anticipation of a strike,” said Wade Sobkowich, executive director of the Western Grain Elevator Association, whose members include Cargill Ltd, Richardson International and Viterra Inc.

CN’s shipments of hazardous goods such as crude are likely to come to a “screeching halt” even if the railroad’s management steps in to limit freight volumes, said Kent McDougall, chief commercial officer at Torq Energy, which loads crude oil in Western Canada onto trains operated by both CN and CP.

A strike may temporarily constrain CN’s volumes, but will not likely have a meaningful long-term impact on the company’s earnings, Credit Suisse analysts said in a research note on Monday, adding that Ottawa has historically been quick to intervene.

Shares of Montreal-based CN were down 1%, while the benchmark Canadian share index was up slightly.

Canadian Labour Minister Patty Hajdu and Transport Minister Marc Garneau said they are monitoring the CN strike situation closely after meeting with the two sides on Monday.

CN said in a statement that it was “disappointed” at the strike action. CN’s service in the United States will continue operating despite the strike.

The company said on Friday it would cut management and union jobs as it grapples with an economic slowdown.

Rail workers with the Teamsters held their last strike in 2009, when locomotive engineers walked off the job for five days, the union said.

(Reporting by Allison Lampert in Montreal and Rod Nickel in Winnipeg Additional reporting by Kelsey Johnson, David Ljunggren and Steve Scherer in Ottawa and Kanishka Singh in Bengaluru Editing by Chizu Nomiyama, Sandra Maler and Leslie Adler)

A brewery Tour of Iceland, 30 Years After the End of the Beer Ban

November 17, 2019 / WIL BALDWIN

From horseback riding to cave diving, puffin watching to hot spring soaking, Iceland has turned itself into a popular vacation destination. Until fairly recently however, beer tourists didn’t have much to entice them to this island nation in the North Atlantic. In fact, 2019 marks only 30 years since Iceland legalized the sale and consumption of beer with over 2.25% alcohol, ending nearly eight decades of a curious and narrowly defined type of prohibition. Things have changed considerably however, particularly in the last few years.

The first Icelandic craft brewery, Bruggsmiðjan, which produces the popular Kaldi, didn’t open until 2006, and as recently as 2015 there were only seven small breweries nationwide. Today, nearly 30 beer companies dot the countryside, with the highest concentration in greater Reykjavík. There’s trendy KEX Brewing in the capital city, which just opened its second location in Portland, Oregon; Ölverk Pizza and Brewery in the South, where the brewhouse is powered by geothermal energy; Brugghús Steðja, which gained publicity by making beers with unusual ingredients including smoked whale testicles; and Lady Brewery, one of the newer brands in Iceland, started by two young women in a home kitchen.

“The culture has changed so fast,” says Valgeir Valgeirsson, head brewer at RVK Brewing Company in central Reykjavík. “[Craft beer] is quite a new concept. We’re just trying to build it up.”

Ten taps greet visitors to RVK, along with a British beer engine, traditionally used to serve cask ales. Here, in an unassuming taproom overlooking the brewery’s stainless steel fermentation tanks, those with adventurous palates can try everything from a juicy, easy-drinking pale ale with notes of tropical fruit, to a boldly flavored, high-alcohol stout made with coffee and coconut. Creativity is king in this new era of brewing, with the sky as the limit. Valgeir and a number of other brewers around the country have even made sour beers by incorporating skyr, an Icelandic cultured dairy product, into their recipes.

Meanwhile, more than 230 miles (370 km) away in the small but scenic fishing village of Siglufjörður, Marteinn Haraldsson is the proud owner of the country’s northernmost brewery, Segull 67. Marteinn, a computer scientist who grew up in town but lives in Akureyri, learned the basics one homebrew recipe at a time, but now produces much larger batches in a former fish-freezing factory a short distance from the popular Herring Era Museum. An amber lager simply called Original and Sigló, an India pale ale, sell best, but Marteinn also makes a Belgian-style wheat beer with coriander and lime peel and a pineapple summer ale—not exactly options you would have had in Iceland as recently as a few years ago.

Segull 67’s Sólstingur, brewed with pineapple.

For all of the tourists that arrive in Siglufjörður via cruise ship during the summer months, Marteinn talks about the obstacles to being a little business in a remote town of 1,200. “Most of our challenges are getting people to know about us,” he says. “We just try to take it one day at a time.”

East of Reykjavík, in the town of Hveragerði, Ölverk Pizza and Brewery has successfully gained attention since opening its doors in 2017, by combining complementary passions: wood-fired pizza, and craft brewing. General manager Laufey Sif Lárusdóttir and her partner head brewer Elvar Þrastarson don’t currently can or bottle any of the beers they make, preferring to serve them on premise by the glass, pitcher, or tasting flight. Working on a small system enables Elvar to keep the draft list varied and interesting, tempting taste buds with a mild, malty, and food-friendly Altbier alongside a hazy, hoppy, party-in-a-glass imperial IPA like Disco Juice. The couple also typically devotes two of their eight taps to other small Icelandic breweries they admire, like Ölvisholt in Selfoss or The Brothers Brewery on Heimaey in the Vestmannaeyjar archipelago.

“It’s really small and friendly,” says Laufey of the young Icelandic beer scene. “For other industries it’s really weird. But if someone else opened up a brewery here I would say ‘Okay, I will be better.’” Ólafur Ágústsson, one of the partners behind KEX Brewing, echoes this sense of camaraderie, and explains how a desire to build and promote interest in craft brewing motivated the company to begin hosting an annual Icelandic Beer Festival at KEX’s four-story space in downtown Reykjavík eight years ago. Last year more than a dozen Icelandic brewers poured their ales and lagers alongside examples from the US and elsewhere in Europe.

“We’re not brewers at all,” he says. “I’m a chef. We’re just people who like good beer. We wanted to make the scene better. That’s what’s important right now—helping everybody and trying to grow the market.”

Something’s Brewing, All Around Iceland

1. KEX Brewing Hosts of the popular annual Icelandic Beer Festival.

2. RVK Brewing Company Fruity sours share space with easy- drinking lagers and hazy, hoppy IPAs.

3. Brugghús Steðja Sleep on the farm in an insulated cabin at this rural brewery.

4. Dokkan Brugghús The first brewery in the Westfjords, and possibly the most remote in Iceland.

5. Segull 67 Brewery Fresh beer, fishing history, and views of Siglufjörður.

6. Bruggsmiðjan Kaldi Brewery Soak in a beer spa at the country’s oldest craft brewery.

7. Húsavík Öl Expect creative saisons made with birch, rhubarb, juniper, or mint.

8. Beljandi Brugghús Approachable beers and a rustic vibe inside a former slaughterhouse.

9. Smiðjan Brugghús Try the baby back ribs cooked in Icelandic stout.

10. The Brothers Brewery Watch for puffins on the ferry ride to this island brewery.

11. Ölvisholt Brewery Don’t miss the chance to try Lava, a smoked imperial stout.

12. Ölverk Pizza and Brewery Pair a tasty ale with the surprisingly delicious banana pizza.

There are many more breweries in Iceland, particularly in the greater Reykjavík area. For a complete map, check out the Independent Craft Brewers of Iceland’s Facebook page.

Ölvisholt is on an old dairy farm near Selfoss.

Alstom Begins Delivery of New Regional Trains to Veneto and Liguria in Italy

November 13, 2019 / WIL BALDWIN

Alstom has delivered the first Coradia Stream “Pop” trains destined for operation in Italian regions of Veneto and Liguria. The trains are part of the framework agreement signed in 2016 between Alstom and Trenitalia for a total of 150 new medium-capacity regional trains. Veneto will receive a total of 31 trains, Liguria 15. Deliveries will continue at a rapid pace into 2020.

14 Coradia Stream trains are already in passenger service in Emilia Romagna, the first region to have placed a firm order under the 2016 agreement.

The new trains are part of a wider relaunch plan initiated by Trenitalia (FS Italian Group) to develop regional transport. This plan foresees a total investment of around €6 billion for 600 new trains, lead to the renewal of 80% of the fleet within 5 years. Due to the number of trains and its value, it is an unprecedented project for Italy.

The Coradia Stream, dubbed “Pop” by the Italian customer, is a single-deck electric multiple unit (EMU) designed for regional lines. It represents the latest generation of the Coradia family of trains. It can transport 300 passengers seated, has a top speed of 160 km/h, and offers easy accessibility thanks to its low floor. Designed to be eco-friendly, Coradia Stream consumes 30% less energy than previous train generation.

“Over the past 15 years, more than 412 regional trains have been designed, produced and put into commercial service by Alstom in Italy. To these figures, we will gradually grow the Pop fleet. We are proud to have been chosen by Veneto and Liguria, and to support Trenitalia in this major project to improve regional and intercity transport throughout the country,” said Michele Viale, Managing Director of Alstom in Italy and Switzerland.

The Coradia Stream trains are manufactured by Alstom in Italy. Project development, most of the manufacturing and certification are performed at Alstom’s site in Savigliano (CN). Design and manufacturing of the traction systems and other components takes place at the Sesto San Giovanni (MI), and the on-board signalling systems are delivered by the Bologna site.

SBB’s New Double-Deck Train is Getting Better and Better

November 10, 2019 / WIL BALDWIN

Significant increase in reliability and ride comfort

The introduction of the new “FV-Dosto” double-deck long-distance train on the Swiss Federal Railways (SBB) route network is making significant and measurable progress. As the manufacturer Bombardier Transportation explained at its Swiss headquarters in Zurich, the reliability of the 25 trains available to the SBB has been increased by a factor of seven, and ride comfort has been substantially improved thanks to newly installed software. This and the train’s highly energy-efficient drive concept, also led to a significant improvement in punctuality on the routes operated with the FV-Dosto. With the help of software developed and adapted by Bombardier, it has been possible to reduce the previously noticeable vibrations, particularly in the upper decks of trains by up to 75 per cent, thereby substantially increasing ride comfort.

As Stéphane Wettstein, the Swiss Managing Director of Bombardier Transportation, explained, the technical reliability of the FV-Dosto trains used, once again significantly increased to 6,914 km of trouble-free operation in October. This corresponds to an improvement by a factor of seven over the last 11 months. Approximately 34 per cent of service disruptions are caused by operational and passenger-triggered incidents and accordingly affect the overall reliability of operations. Wettstein put the increase in the technical reliability of the trains down to the effectiveness of the agreed actions and the increasing mileage of the Dosto fleet, which has now covered a total of around 2.27 million kilometres. He is therefore confident that technical and operational reliability will continue to improve steadily. Since the timetable change in December 2018, around 75 per cent of the technical causes of disruptions have been eliminated.

Reliability and drive concept have a positive effect on punctuality

The greater reliability and increasing trouble-free availability of the trains also have a positive effect on the punctuality of the IR and IC services operated by the FV-Dosto. According to the surveys on the statistics website pünktlichkeit.ch, it is better in eastern Switzerland than in other parts of the country. This is not only due to higher reliability of the FV-Dosto trains, but also to their drive concept: unlike conventional trains, the FV-Dosto is not pulled or pushed by a locomotive, but driven by high energy-efficient and permanent magnet motors on the axles of the individual carriages. This allows long-distance trains to accelerate much faster, which positively contributes to timetable adherence.

Substantial improvement of ride comfort

In recent weeks, great progress has also been made in terms of ride comfort. With the new software installed in September 2019, it has been possible to eliminate the vibrations that used to be felt, mainly in the upper deck, to such an extent that some of them are now lower than in conventional double-deck trains. However, Stéphane Wettstein pointed out that, although Bombardier’s mechatronic bogies had been able to improve ride comfort, railway infrastructure, which also influences passengers’ level of comfort, has not gotten any better.

The technologically complex system for eliminating vibrations is based on stabilizing the carriage body in every driving situation, in such a way that the passenger feels less of the centrifugal forces in curves and changes of direction when passing over points than in conventional double-deck or tilting trains. While the ICN tilting train, which was also built by Bombardier as the consortium leader, tilts inwards in curves up to 7°, the FV-Dosto stays perpendicular to the track level. Together with the drive system and the pressure-tight carriage body, which prevents unpleasant pressure on the ears, especially when travelling through tunnels, this system is one of the major innovations of what is currently the world’s most modern long-distance train.

SBB already has 25 new trains

“The FV-Dosto is technologically a leading product in the industry in terms of its energy efficiency and the wide range of comfort it offers its passengers, even on a global scale – something Switzerland can be proud of, especially since important systems such as the traction or the bogies were developed in Switzerland and are largely manufactured in Switzerland,” says Swiss Managing Director of Bombardier Transportation Stéphane Wettstein.

Bombardier has now delivered a total of 25 of the FV-Dosto trains, which corresponds to SBB’s planning for the timetable change in 2019. By summer 2021, the entire fleet of (62) trains will have been delivered. The great public interest in the FV-Dosto has also prompted Bombardier to intensify communication regarding this high-tech train. The company has launched a website at swissdosto.ch which provides continually updated information on the introduction and operation of the train on the Swiss rail network.

Bombardier creates considerable value in Switzerland

Bombardier Transportation is one of the world’s largest manufacturers of public transport vehicles, mainly rail vehicles. The company is headquartered in Montreal, Canada and employs around 40,000 people around the world. More than 100,000 Bombardier vehicles are in service worldwide, carrying some 500 million passengers every day. In Switzerland, Bombardier’s roots go back some 120 years; many of the famous Swiss railway manufacturers from Secheron and MFO to BBC, ABB and Schindler Waggonbau to SLM have been combined under Bombardier over the decades. Today, around 870 employees work for Bombardier in Switzerland, 340 of them at the headquarters and global development centre in Zurich and 530 at the Villeneuve (VD) plant. Numerous Swiss suppliers are also involved in the development and production of the FV-Dosto, and their order volume accounts for around 50 per cent of the total external investment volume of CHF 600 million for the (62) ordered trains. After all, Bombardier is not only the supplier of FV-Dosto for SBB, but also of locomotives, technical services and the BOMBARDIER FLEXITYtram, which is already being used successfully in Geneva and Basel and the first of which will also be handed over to the Zurich public transport operator VBZ on November 15, 2019.

Alstom to Test its Hydrogen Fuel Cell Train in the Netherlands

November 2, 2019 / WIL BALDWIN

First pilot project with Coradia iLint outside Germany

31 October 2019 – Alstom and the Province of Groningen, local operator Arriva, the Dutch railway infrastructure manager ProRail and the energy company Engie have signed plans for a pilot project to test the Coradia iLint, the world’s first passenger train powered by hydrogen fuel cells, for the first time in the Netherlands. The signature took place as part of the “Klimaattop”, or Climate Summit Northern Netherlands, taking place this week in Groningen.

The tests will be carried out on the track between Groningen and Leeuwarden at up to 140 km/h and will last about two weeks. The ambition is to organise the test during the first quarter of 2020. The objective is to demonstrate that hydrogen fuel cell technology is an appropriate way to achieve zero-emission rail traffic on non-electrified lines in the Netherlands where there are currently diesel trains running.

“Alstom is committed to developing and implementing mobility solutions that permit not only the emergence of fully sustainable transport systems but also help drive the broader energy transition. We look forward to demonstrating what has already been proven in Germany – that hydrogen represents a highly suitable way forward in both cases,” said Bernard Belvaux, Managing Director of Alstom Benelux.

The Coradia iLint is the world’s first passenger train powered by a hydrogen fuel cell, which produces electrical power for traction. The train is quiet and emission-free, emitting only water and steam during operation. It represents a clean alternative for railway operators and regional authorities wishing to replace diesel fleets for operation on non-electrified lines and meet ambitious zero-emission objectives.

The world’s first two hydrogen trains have already been in regular passenger service in Lower Saxony in Germany since September 2018. The local transport authority LNVG will operate 14 Coradia iLint trains on that line from 2021. Also in Germany, RMV this ordered 27 Coradia iLint – the largest fleet of hydrogen trains in the world – for operation from 2022.

The Dutch railway network has approximatively 1,000 kilometres of non-electrified line.

Alstom to Supply 39 Additional Coradia Polyvalent Trains to the Grand Est Region

October 23, 2019 / WIL BALDWIN

contract worth over 360 million euros in France

22 October 2019 – Alstom will supply 39 additional Coradia Polyvalent trains to the Grand Est region for the sum of approximately 360 million euros[1]. The region had already ordered 40 Coradia Polyvalent trains, of which 36 have already been delivered. Deliveries of these new trains will be staggered between 2022 and 2024.

Firstly, this new order covers 30 trains intended for cross-border circulation in Germany. These 4-car trains, which are dual mode – dual voltage 25 kV / 15 kV and comply with German safety requirements, will run at 160 km/h, serving the German states of Saarland, Rhineland-Palatinate and Baden-Württemberg. The 30 Coradia Polyvalent cross-border trains will offer a first-class zone and an area for bicycles, and will incorporate the new TSI PRM[2] 2014 standard, notably offering more spacious toilets to facilitate movement for passengers with reduced mobility. The first cross-border trains will be delivered at the end of 2023.

Secondly, nine additional Coradia Polyvalent trains, consisting of five 4-car and four 6-car trains, have been added to the existing fleet for domestic connections. These new trains will benefit from the same special features as those already in operation in the Grand Est region.

“Alstom is proud of this new sign of trust from the Grand Est region. The expertise and innovation capacities of our French teams are mobilised to support the region in developing cross-border mobility. This order also contributes to the activity of Alstom’s Reichshoffen site,” says Jean-Baptiste Eyméoud, President of Alstom in France.

Coradia Polyvalent belongs to Alstom’s Coradia range of trains. With its modular architecture, it can be adapted to the requirements of each public transport authority as well as to different types of use: suburban, regional and intercity. It comes in three lengths (56, 72 or 110 metres) and offers optimal comfort to passengers, whatever the length of the journey. The train is both ecological and economical due to its low energy consumption, its compliance with the latest emissions standards in thermal mode and its reduced maintenance costs. Coradia Polyvalent is the first French regional train to comply with all European standards, in particular with regard to access for people with reduced mobility.

To date, 387 Coradia Polyvalent trains have been ordered as part of the contract awarded to Alstom by SNCF in October 2009, including 320 Coradia Polyvalent for Régiolis by 9 French regions and 67 Coradia Liner by the French state, the authority responsible for the country’s TET (intercity) trains. Régiolis has already covered nearly 85 million kilometres in commercial service.

The Coradia Polyvalent train also meets the needs of the export market: 17 trains have been ordered by SNTF (Algeria) and 15 trains by APIX (Senegal).

This is Coradia Polyvalent’s second cross-border application as the region of Auvergne-Rhône-Alpes has ordered 17 Léman Express Coradia Polyvalent trains, to be commissioned on the CEVA cross-border line between France and Switzerland in mid-December 2019.

The manufacturing of Coradia Polyvalent secures more than 4,000 jobs in France for Alstom and its suppliers. Six of Alstom’s 12 sites in France are involved in the project: Reichshoffen for the design and assembly, Ornans for the engines, Le Creusot for the bogies, Tarbes for the traction chains, Villeurbanne for the on-board electronics and signalling products, and Saint-Ouen for the design.

[1] Booked in the second quarter of the current fiscal year

[2] Technical Specifications for Interoperability relating to Persons with Reduced Mobility

Alstom’s Tram Enters Service in Avignon

October 20, 2019 / WIL BALDWIN

Alstom has commissioned its first new-generation Citadis X05 tram in its short version, on the first tramway line of Grand Avignon. The inauguration took place in the presence of Elisabeth Borne, Minister of the Ecological and Solidarity Transition, Renaud Muselier, President of Région Sud, Maurice Chabert, President of the Vaucluse Department, Patrick Vacaris, President of Grand Avignon, Cécile Helle, Mayor of Avignon, Jean-Marc Roubaud, President of Técélys and Jean-Baptiste Eyméoud, President of Alstom France.

“Alstom and its teams are proud to be present at the commissioning of this first tramway line in Avignon. Thanks to their reliability, availability and easier maintenance, we are fully confident in the ability of the 14 Citadis trams to address the major travel challenges of the Agglomeration Community of Grand Avignon. I would also like to thank the members of Grand Avignon for having entrusted us with part of the infrastructural work. This new line will become a showcase for the expertise of the French rail sector,” said Jean-Baptiste Eyméoud, President of Alstom in France.

24 metres long, equipped with 4 double doors on each side, the Citadis X05 tram for Grand Avignon will be able to carry more than 140 passengers. The full low floor and double doors facilitate accessibility and passenger exchange in stations. Everything has been designed for a pleasant travel experience: large bay windows covering 40% of the tram, LEDs with diffusers for soft, homogenous lighting, a state-of-the-art information system, large seats, air conditioning, and a video protection system.

Citadis X05 has standardised, proven, more accessible components, providing residents of the Avignon area with reliable, readily available material. Citadis X05 is particularly energy efficient and up to 99% recyclable.

Alstom offers a wide range of products and services and has also provided the tracks (studies, supply and assembly), the 750 V electrical substation and 6 km of overhead contact lines (studies, supply, installation and testing) in partnership with TSO.

Seven of Alstom’s thirteen sites in France are involved in the design and manufacture of the tram for Grand Avignon: La Rochelle (for the design and assembly of the trams), Ornans (for the engines), Le Creusot (for the bogies), Tarbes (for the traction drive equipment), Valenciennes (for the control system and interior layout), Saint-Ouen (for the design and infrastructure activities) and Villeurbanne (for the on-board electronic systems).

British Airways to Become First UK Airline to Offset Carbon Emissions on Flights

October 11, 2019 / WIL BALDWIN

Airline announces plan to offset carbon emissions for all UK domestic flights from 2020
British Airways to invest in verified carbon reduction projects around the world
From 2020, British Airways’ carbon emissions on international flights will be capped through the United Nations’ carbon offsetting scheme
Announcement comes as parent company International Airlines Group (IAG) announces commitment to achieving net zero carbon emissions by 2050

From January 2020, British Airways will become the first UK airline to offset carbon emissions on all its flights within the UK.

All customers flying within the UK next year on flights operated by British Airways will have the carbon emissions from their flights offset by the airline and invested in carbon reduction projects around the world*. These quality assured projects will include renewable energy, protection of rainforests and reforestation programmes.

The airline operates up to 75 flights a day between London and 10 UK cities, including Manchester, Leeds, Newcastle, Isle of Man, Edinburgh, Glasgow, Aberdeen, Belfast City, Inverness and Jersey. British Airways’ domestic emissions total around 400,000 tonnes of C02 a year.

Today’s announcement comes as British Airways’ parent company, International Airlines Group (IAG), became the first airline group worldwide to commit to achieving net zero carbon emissions by 2050, contributing to both the UK Government’s commitment to a net zero carbon economy by 2050 and the United Nations’ objective to limit global warming to 1.5 degrees. IAG’s emissions’ goal will be achieved through numerous environmental initiatives, including investing more than US$400m in the development of sustainable aviation fuels over the next 20 years.

Alex Cruz, British Airways’ Chairman and Chief Executive, said: “British Airways is determined to play its part in reducing aviation’s CO2 emissions. To solve such a multi-faceted issue requires a multi-faceted response and this initiative further demonstrates our commitment to a sustainable future. It also follows our announcement to partner with renewable fuels company, Velocys, to build a facility which converts household and commercial waste into renewable sustainable jet fuel to power our fleet.”

While customers on UK domestic flights will not need to offset their emissions, those travelling further afield can also reduce their impact on the environment by using British Airways’ carbon offsetting tool. The carbon tool enables customers to calculate their emissions and then invest in carbon reduction projects including high quality forestry and renewable energy projects in Peru, Sudan and Cambodia**.

Using the tool, which can be accessed on https://www.pureleapfrog.org/ba/carbon_zero, a customer will pay around £1 to offset a return flight from London to Madrid, travelling in economy, while from London to New York in business class will cost around £15.***

Notes to Editors

* British Airways is investing in Verified Carbon Standard projects.

**British Airways’ offset scheme is operated through the airline’s partnership with not-for-profit organisation Pure Leapfrog. For more information on the carbon reduction projects, visit: https://www.pureleapfrog.org/ba

***While customers travelling on domestic flights’ carbon emissions are offset for them, customers flying outside of the UK can choose to pay to offset their emissions. Examples of pricing are shown below:

Journey	Cost to offset
London to Madrid (economy)	£ 1
London to New York (economy)	£ 5
London to New York (business)	£ 15
London to Los Angeles (economy)	£ 8
London to Los Angeles (business)	£ 24
London to Hong Kong (business)	£ 26

Customers can find a link to the carbon calculator at https://www.pureleapfrog.org/ba/carbon_zero

China Out in Force at Frankfurt Car Show

September 11, 2019 / WIL BALDWIN

FILE PHOTO: Supercar Hongqi S9 is unveiled next to FAW Group Chairman Xu Liuping at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany. September 10, 2019. REUTERS/Wolfgang Rattay/File Photo

FRANKFURT (Reuters) – Chinese suppliers and manufacturers have stepped up their presence at the Frankfurt auto show, capitalizing on a strong position in electric technologies forced on European carmakers by regulators seeking to curb pollution.

Though the number of exhibitors has fallen to 800 in 2019 from 994 in 2017, Chinese automakers and suppliers now make up the biggest foreign contingent, with 79 companies, up from 73.

Several European and Japanese carmakers including Fiat , Alfa Romeo, Nissan and Toyota have skipped the show as the industry cuts costs.

Europe’s automakers face multibillion-euro investments to develop electric and autonomous cars, forcing them to rely on Chinese companies for key technologies such as lithium ion battery cell production, an area where Asian suppliers dominate.

German firms are striking major deals with Chinese suppliers to help them meet stringent EU anti-pollution rules, which were introduced in the wake of Volkswagen’s 2015 emissions cheating scandal.

“All carmakers face the challenge that they will have to fulfill fleet consumption targets,” Matthias Zentgraf, regional president for Europe at China’s Contemporary Amperex Technology, told Reuters.

Zentgraf said he expected further supply deals to be struck in Europe this year following agreements with BMW and Volkswagen.

Daimler on Wednesday said it had chosen China-backed Farasis Energy to supply battery cells for its Mercedes-Benz electrification push.

Farasis is building a 600 million euro ($663 million) factory in east Germany, close to where Chinese rival CATL is erecting a 1.8 billion euro battery plant.

SVOLT Energy Technology, which was carved out of China’s Great Wall Motor Co, told Reuters it would start building battery cells in Europe at a new 2 billion euro plant in 2023.

TIPPING POINT

Chinese companies are also giving Europe more attention since the United States and China embarked on a global trade war, which has resulted in tariffs.

“We put Europe up in priority,” said Daniel Kirchert, chief executive of Chinese electric car maker Byton.

“We are at a tipping point” for acceptance of electric vehicles in Europe, Kirchert, a former BMW executive, added.

Byton has taken its prototype vehicles on road shows in Europe, and received expressions of interest from 20,000 customers, he said. In electric vehicle hot spots, such as Norway and the Netherlands, “we see a very positive response.”

Byton plans to export vehicles from its factory in Nanjing, to Europe in 2021, Kirchert said, adding that exporting to the United States would be a challenge if Washington and Beijing did not resolve their trade war.

He said Byton still hoped to launch in the United States in 2021, but tariffs would threaten the company’s goal of selling vehicles at a starting price of about $45,000.

“We decided no matter what” Byton will launch in the United States, even at a higher price, he said.

China’s Great Wall Motor may consider building car manufacturing facilities in the European Union once its sales there hit 50,000 units a year, its chairman told Reuters at the show.

German carmakers have been forced to accelerate electrification plans after the EU imposed a 37.5% cut in carbon dioxide emissions between 2021 and 2030 in addition to a 40% cut in emissions between 2007 and 2021.

PSA Group Chief Executive Carlos Tavares used the show to step up criticism of Europe’s aggressive approach toward emissions limits.

“The word dialogue has become meaningless in Europe,” he said, referring to the requirements placed on the auto industry.

“Politicians can decide rules without any discussion with industry,” he told journalists on the sidelines of the show.

Electric cars made up only 1.5% of global sales last year, or 1.26 million of the 86 million passenger vehicles sold, JATO Dynamics said.

If carmakers fail to meet the 2021 targets they could face a combined 33 billion euros in fines, analysts at Evercore ISI have estimated.

They also estimate it will cost the auto industry an aggregate 15.3 billion euros to comply, assuming a 60 euro cost per gram to reduce CO2 emissions for premium carmakers and 40 euros per gram of CO2 reduction for volume manufacturers.

(Writing by Edward Taylor; Editing by Mark Potter)

A woman cleans the prototype of a Chinese car at the IAA Auto Show in Frankfurt, Germany, Monday, Sept. 9, 2019. The IAA officially starts with media days on Tuesday and Wednesday. (AP Photo/Michael Probst)

Apollo and Athene to Acquire PK AirFinance From GECAS

August 29, 2019 / WIL BALDWIN

NEW YORK, Aug. 29, 2019 (GLOBE NEWSWIRE) — Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (APO); Athene Holding Ltd. (ATH); and GE Capital, the financial services arm of GE (GE), today announced that they have entered into a definitive agreement for Apollo and Athene to purchase PK AirFinance, an aviation lending business, from GE Capital’s Aviation Services (GECAS) unit. In connection with this transaction, Apollo will acquire the PK AirFinance aircraft lending platform and Athene will acquire PK AirFinance’s existing portfolio of loans.

PK AirFinance is a leading aircraft lending business that serves airlines, aircraft traders, lessors, investors and financial institutions globally with loans to borrowers in more than 40 countries. Financial details of the transaction were not disclosed, although the $3.6 billion of PK AirFinance financing receivables that were held for sale in the second quarter of 2019 are being sold at a premium to book value in this transaction.

Alec Burger, GE Capital President & CEO, said, “Apollo’s vast lending experience, complementary platforms, and exceptional track record across diversified assets and geographies make it the ideal partner to accelerate PK AirFinance’s growth. This sale is aligned to GE Capital’s overall strategy to become smaller and simpler, and our commitment to reduce our assets by $10 billion in 2019 is now more than halfway complete. We continue to focus on shrinking GE Capital’s balance sheet, achieving a debt-to-equity ratio of less than 4x by 2020, and supporting GE Industrial growth through our remaining GECAS, Energy Financial Services, and Industrial Finance businesses.”

Jim Belardi, CEO of Athene, said, “This transaction provides us with a unique opportunity to acquire a large, diversified portfolio of high-quality loans with attractive risk-adjusted returns. In addition, this deal is another great example of the unique benefits of our strategic relationship with Apollo and its commitment to building direct origination platforms in support of the continued growth of our business.”

James Zelter, Co-President of Apollo, said, “We are very excited to be acquiring the PK AirFinance platform which, under GE’s outstanding stewardship, has become one of the world’s leading aircraft lending businesses, and is highly complementary to our existing aircraft leasing capabilities. This transaction also demonstrates our ongoing commitment to meet the investment needs of Athene and our clients, and is consistent with our objective to continue to expand Apollo’s capabilities to directly originate high quality assets.”

PK AirFinance’s team of investment professionals, who primarily focus on originations and syndications as well as underwriting and portfolio management, will transfer to Apollo upon completion of the transaction.

Per Waldelof, president of PK AirFinance, said, “We have a great team of experts with tremendous execution capabilities and a proven ability to deliver results. We are confident that this transaction will ensure the continued stability of our business. We are excited for the opportunity to continue to serve our customers and the industry as part of the team at Apollo.”

The completion of the acquisition is subject to customary conditions and is expected to close during the fourth quarter of 2019. Citi and Goldman Sachs & Co. LLC provided financial advice and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Clifford Chance LLP provided legal advice to GE Capital. Citi, RBC Capital Markets, and Mizuho provided debt financing for the transaction, and RBC Capital Markets served as financial advisor to Apollo.

Reliability and drive concept have a positive effect on punctuality

Substantial improvement of ride comfort

SBB already has 25 new trains

Bombardier creates considerable value in Switzerland

Archives