Finland Ends Seizure of Shadow Fleet Ship Held for Cable Damage
(Bloomberg) -- Finland has ended the seizure of a shadow fleet tanker that pulled up four underwater data cables and a power link on Dec. 25 as investigations proceed.
Cuts to Section 8 Housing Assistance Loom Amid HUD Uncertainty
The Trump Administration Takes Aim at Transportation Research
Remembering the Landscape Architect Who Embraced the City
Shelters Await Billions in Federal Money for Homelessness Providers
NYC Office Buildings See Resurgence as Investors Pile Into Bonds
The Eagle S will be escorted by the Border Guard from Finnish territorial waters, the police said in an emailed statement on Sunday. Eight crew members are still suspected of offenses, and three of them are prevented from leaving the country, the police said.
Instances of cable breakages in the Baltic Sea have become more frequent over the past several months. Policymakers have pointed to sabotage, a mistake or incompetence as possible causes of the damage wrought by the tanker's anchor, which was retrieved from the seabed as part of a probe into aggravated criminal mischief and aggravated interference of communications.
The tanker, sailing under the Cook Islands flag, will be able to depart carrying its cargo of unleaded petrol and diesel, the police said, adding that it aims to conclude its criminal probe by the end of April.
With thousands of vessels passing through it every day, the Baltic Sea is one of the world's busiest shipping routes. Since the start of Russia's full-scale invasion of Ukraine in 2022 — and with it, international energy sanctions against the Kremlin — Western nations expressed concerns that the so-called shadow fleet shipping Russian oil from Baltic ports could cause security breaches and environmental risks due to the age of the vessels and insufficient insurance.
Deficiencies found in a Port State Control inspection in January have been rectified, and Finland's transport authority Traficom is allowing the ship to set off, the police said.
On Sunday, the power transmission system operators of Finland and Estonia, Fingrid Oyj and Elering AS, dropped their demand that the vessel remain detained, saying the cost of detaining and maintaining the ship likely exceeded its value. Instead, they plan to seek compensation, the companies said in a separate statement.
--With assistance from Julia Janicki.
Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost?
Trump's SALT Tax Promise Hinges on an Obscure Loophole
Walmart Wants to Be Something for Everyone in a Divided America
Warner Bros. Movie Heads Are Burning Cash, and Their Boss Is Losing Patience
OXO Fought Back Against the Black Spatula Panic. People Defected Anyway
©2025 Bloomberg L.P.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Washington Post
6 minutes ago
- Washington Post
India and Canada to restore diplomatic services nearly two years after killing of Sikh separatist
NEW DELHI — India and Canada agreed to restore diplomatic services nearly two years after Ottawa accused New Delhi of alleged involvement in the killing of a Sikh separatist leader , which turned into a row straining relations between the two countries. The announcement was made after Indian Prime Minister Narendra Modi and his Canadian counterpart, Mark Carney, met Tuesday on the sidelines of the Group of Seven summit in Kananaskis, Alberta. 'The leaders agreed to designate new high commissioners, with a view to returning to regular services to citizens and businesses in both countries,' a statement from Carney's office said. High commissioners are senior diplomats, representing their country's interests and fostering relationships with the host nation. Modi and Carney reiterated the importance of a bilateral relationship based on mutual respect and a commitment to the principle of territorial sovereignty, according to the statement. They also discussed further collaboration in several sectors, including technology, digital transition, food security, and critical minerals. Meanwhile, India's foreign ministry underscored the importance of restarting senior ministerial engagements to 'rebuild trust and bring momentum to the relationship.' Carney's predecessor, Justin Trudeau, shocked the world in September 2023 after announcing in Parliament there were credible allegations about India's link to the killing of Hareep Singh Nijjar near Vancouver. New Delhi vehemently denied the allegations and accused Trudeau's government of harboring extremists. The Indian government had declared Nijjar a terrorist in 2020 under a law meant to suppress dissent. The Sikh independence advocate was a prominent member of the Khalistan movement, banned in India, to create an independent Sikh homeland . He was seen as a human rights activist by Sikh organizations. Ties between the two countries continued to worsen and in October, India expelled Canadian diplomats and withdrew its high commissioner and other officials from Canada. Ottawa retaliated by dismissing Indian diplomats and accusing the Indian government of an intensifying campaign against Canadian citizens, a charge New Delhi denied. India's anxieties about Sikh separatist groups have long strained its relationship with Canada, where some 2% of the population is Sikh. As Trump abruptly left the G7 summit, Modi had a detailed phone conversation with the U.S. president and shared India's military response against Pakistan last month following the killings of 26 innocent people, mostly Hindu men, in Indian-controlled Kashmir, foreign secretary Vikram Misri said. In recent weeks, Trump had claimed to have brokered a ceasefire between India and Pakistan and offered trade concessions in part to make the nuclear-armed rivals reach an agreement after shooting at each other for days, which was checkmate by New Delhi. Trump had also proposed mediation over Kashmir . In a statement, Misri said Modi clarified to Trump that India had never in the past accepted nor would it encourage in the future a third-party mediation over the simmering dispute of Kashmir, a Himalayan region claimed by both India and Pakistan in its entirety. Misri said Modi made it clear to Trump that during multiple talks held between New Delhi and Washington senior officials amid the ongoing military conflict, there was no mention of a trade deal or the U.S. mediation over Kashmir. The talks to stop military actions were held directly between the military leaders of India and Pakistan through existing channels, Misri said.


Bloomberg
11 minutes ago
- Bloomberg
Burnt by the Boom: Solar's Growing Pains
Solar module prices have been cratering in recent years, dragged down by global oversupply. Yet while this glut of photovoltaics has hammered manufacturer profits, it has also allowed emerging economies that are hungry for affordable energy to get into the solar game, and demand growth is still strong this year. So what lies ahead for this notoriously tricky market, could energy storage help mitigate electricity price spikes, and what impact could the Trump administration's tariffs have on domestic US solar manufacturing? On today's show, Tom Rowlands-Rees is joined by Jenny Chase, a BloombergNEF solar specialist, to discuss findings from her note '2Q 2025 Global PV Market Outlook.'

Associated Press
12 minutes ago
- Associated Press
India and Canada to restore diplomatic services nearly two years after killing of Sikh separatist
Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year] NEW DELHI (AP) — India and Canada agreed to restore diplomatic services nearly two years after Ottawa accused New Delhi of alleged involvement in the killing of a Sikh separatist leader , which turned into a row straining relations between the two countries. The announcement was made after Indian Prime Minister Narendra Modi and his Canadian counterpart, Mark Carney, met Tuesday on the sidelines of the Group of Seven summit in Kananaskis, Alberta. 'The leaders agreed to designate new high commissioners, with a view to returning to regular services to citizens and businesses in both countries,' a statement from Carney's office said. High commissioners are senior diplomats, representing their country's interests and fostering relationships with the host nation. Modi and Carney reiterated the importance of a bilateral relationship based on mutual respect and a commitment to the principle of territorial sovereignty, according to the statement. They also discussed further collaboration in several sectors, including technology, digital transition, food security, and critical minerals. Meanwhile, India's foreign ministry underscored the importance of restarting senior ministerial engagements to 'rebuild trust and bring momentum to the relationship.' Carney's predecessor, Justin Trudeau, shocked the world in September 2023 after announcing in Parliament there were credible allegations about India's link to the killing of Hareep Singh Nijjar near Vancouver. New Delhi vehemently denied the allegations and accused Trudeau's government of harboring extremists. The Indian government had declared Nijjar a terrorist in 2020 under a law meant to suppress dissent. The Sikh independence advocate was a prominent member of the Khalistan movement, banned in India, to create an independent Sikh homeland . He was seen as a human rights activist by Sikh organizations. Ties between the two countries continued to worsen and in October, India expelled Canadian diplomats and withdrew its high commissioner and other officials from Canada. Ottawa retaliated by dismissing Indian diplomats and accusing the Indian government of an intensifying campaign against Canadian citizens, a charge New Delhi denied. India's anxieties about Sikh separatist groups have long strained its relationship with Canada, where some 2% of the population is Sikh. Modi Calls Trump As Trump abruptly left the G7 summit, Modi had a detailed phone conversation with the U.S. president and shared India's military response against Pakistan last month following the killings of 26 innocent people, mostly Hindu men, in Indian-controlled Kashmir, foreign secretary Vikram Misri said. In recent weeks, Trump had claimed to have brokered a ceasefire between India and Pakistan and offered trade concessions in part to make the nuclear-armed rivals reach an agreement after shooting at each other for days, which was checkmate by New Delhi. Trump had also proposed mediation over Kashmir . In a statement, Misri said Modi clarified to Trump that India had never in the past accepted nor would it encourage in the future a third-party mediation over the simmering dispute of Kashmir, a Himalayan region claimed by both India and Pakistan in its entirety. Misri said Modi made it clear to Trump that during multiple talks held between New Delhi and Washington senior officials amid the ongoing military conflict, there was no mention of a trade deal or the U.S. mediation over Kashmir. The talks to stop military actions were held directly between the military leaders of India and Pakistan through existing channels, Misri said.