Vietnam spots oil slicks in hunt for missing Malaysia Airlines plane

March 8, 2014

Kuala Lumpur, Mar 8: Vietnamese air force planes on Saturday spotted two large oil slicks in the area where a Malaysia Airlines Boeing 777 vanished earlier in the day, the first sign that the aircraft carrying 239 people on board had crashed.

The air force planes were part of a multinational search operation launched after Flight MH370 fell off radar screens less than an hour after it took off from Kuala Lumpur for Beijing early Saturday morning.malysian

A Vietnamese government statement said the slicks were spotted late Saturday off the southern tip of Vietnam and were each between 10 kilometers (6 miles) and 15 kilometers (9 miles) long. There was no confirmation that the slicks were related to the missing plane, but the statement said they were consistent with the kinds that would be produced by the two fuel tanks of a crashed jetliner.

Two-thirds of the missing plane's passengers were from China, while others were from elsewhere in Asia, North America and Europe.

Malaysia Airlines CEO Ahmad Jauhari Yahya said there was no indication that the pilots had sent a distress signal, suggesting that whatever happened to the plane occurred quickly and possibly catastrophically.

At Beijing's airport, authorities posted a notice asking relatives and friends of passengers to gather at a nearby hotel to wait for further information, and provided a shuttle bus service. A woman wept aboard the bus while saying on a mobile phone, "They want us to go to the hotel. It cannot be good."

Relatives and friends of passengers were escorted into a private area at the Lido Hotel, and reporters were kept away. A man in a gray hooded sweatshirt later stormed out complaining about a lack of information. The man, who said he was a Beijing resident but declined to give his name, said he was anxious because his mother was on board the flight with a group of 10 tourists.

"We have been waiting for hours and there is still no verification," he said.

The plane was last detected on radar at 1:30 a.m. (1730 GMT Friday) around where the South China Sea meets the Gulf of Thailand, authorities in Malaysia and Vietnam said.

Lai Xuan Thanh, director of Vietnam's civil aviation authority, said air traffic officials in the country never made contact with the plane.

The plane "lost all contact and radar signal one minute before it entered Vietnam's air traffic control," Lt. Gen. Vo Van Tuan, deputy chief of staff of the Vietnamese army, said in a statement.

The South China Sea is a tense region with competing territorial claims that have led to several low-level conflicts, particularly between China and the Philippines. That antipathy briefly faded as China, the Philippines, Vietnam, Singapore and Malaysia all sent ships and planes to the region.

Malaysian Prime Minister Najib Razak said that Malaysia had dispatched 15 planes and nine ships to the area, and that the US navy was sending some planes as well. Singapore, China and Vietnam also were sending aircraft.

It's not uncommon for it to take several days to find the wreckage of aircraft floating on the ocean. Locating and then recovering the flight data recorders, vital to any investigation, can take months or even years.

"In times of emergencies like this, we have to show unity of efforts that transcends boundaries and issues," said Lt. Gen. Roy Deveraturda, commander of the Philippine military's Western Command.

Thanh said Malaysian, Singaporean and Vietnamese search officials were coordinating operations in an 11,200-square-kilometer (4,324-square-mile) area where the plane was last known to be. He said Vietnamese fishermen in the area were asked to report any suspected sign of the missing plane.

The air search was suspended for the night and was to resume Sunday morning, while the sea search was ongoing, the airline said.

The plane was carrying 227 passengers, including two infants, and 12 crew members, the airline said. It said there were 152 passengers from China, 38 from Malaysia, seven from Indonesia, six from Australia, five from India, three from the U.S., and others from Indonesia, France, New Zealand, Canada, Ukraine, Russia, Italy, Taiwan, the Netherlands and Austria.

In Kuala Lumpur, family members gathered at the airport, but were kept away from reporters.

"Our team is currently calling the next of kin of passengers and crew. Focus of the airline is to work with the emergency responders and authorities and mobilize its full support," said Yahya, the airline CEO. "Our thoughts and prayers are with all affected passengers and crew and their family members."

Fuad Sharuji, Malaysia Airlines' vice president of operations control, told CNN that the plane was flying at an altitude of 35,000 feet (10,670 meters) and that the pilots had reported no problem with the aircraft.

Asked whether terrorism was suspected, Malaysian transport minister Hishammuddin Hussein said authorities had "no information, but we are looking at all possibilities."

Malaysia Airlines has a good safety record, as does the 777, which had not had a fatal crash in its 19-year history until an Asiana Airlines plane crashed in San Francisco in July 2013, killing three passengers, all teenagers from China.

Airliner "black boxes" — the flight data and cockpit voice recorders — are equipped with "pingers" that emit ultrasonic signals that can be detected underwater. Under good conditions, the signals can be detected from several hundred miles away, said John Goglia, a former member of the U.S. National Transportation Safety Board. If the boxes are trapped inside the wreckage, the sound may not travel as far, he said.

Air France Flight 447, with 228 people on board, disappeared over the Atlantic Ocean en route from Rio de Janeiro to Paris on June 1, 2009. Some wreckage and bodies were recovered over the next two weeks, but it took nearly two years for the main wreckage of the Airbus 330 and its black boxes to be located and recovered.

Malaysia Airlines said the 53-year-old pilot of Flight MH370, Zaharie Ahmad Shah, has more than 18,000 flying hours and has been flying for the airline since 1981. The first officer, 27-year-old Fariq Hamid, has about 2,800 hours of experience and has flown for the airline since 2007.

The tip of the wing of the same Malaysian Airlines Boeing 777-200 broke off Aug. 9, 2012, as it was taxiing at Pudong International Airport outside Shanghai. The wingtip collided with the tail of a China Eastern Airlines A340 plane. No one was injured.

Malaysia Airlines' last fatal incident was in 1995, when one its planes crashed near the Malaysian city of Tawau, killing 34 people. The deadliest crash in its history occurred in 1977, when a domestic Malaysian flight crashed after being hijacked, killing 100 people.

In August 2005, a Malaysian Airlines 777 flying from Perth, Australia, to Kuala Lumpur suddenly shot up 900 meters (3,000 feet) before the pilot disengaged the autopilot and landed safely. The plane's software had incorrectly measured speed and acceleration, and the software was quickly updated on planes around the world.

Malaysia Airlines has 15 Boeing 777-200s in its fleet of about 100 planes. The state-owned carrier last month reported its fourth straight quarterly loss and warned of tougher times.

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Agencies
August 3,2020

Manila, Aug 2: The number of COVID-19 cases in the Philippines has exceeded the 100,000 marks with a record 5,032 new infections registered on Sunday, the Health Ministry's data showed.

With the total cases now reaching 103,185, the spread of COVID-19 in the Southeast Asian nation is steeply rising. The daily growth rate just this Thursday set a record at over 3,800 cases, the next day there were nearly 4,000 new infections detected and on Saturday, over 4,800 cases were detected.

More than 65,000 people have recovered from the ailment, while 2,059 people have died.

The Philippines' epidemiological dynamic mirrors that of many Southeast Asian nations, where COVID-19 infections have only recently begun to climb. 

Most other nations in Europe and the Americas experienced an initial spread of the virus which later tailed off only to begin climbing again after easing of restrictions.

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News Network
January 23,2020

Beijing, Jan 23: China is putting on lockdown a city of 11 million people considered the epicenter of the new coronavirus outbreak that has killed 17 and infected nearly 600 people, as health authorities around the world work to prevent a global pandemic.

The previously unknown coronavirus strain is believed to have emerged late last year from illegally traded wildlife at an animal market in the central Chinese city of Wuhan. Cases have been detected as far away as the United States, stoking fears the virus is already spreading worldwide.

Wuhan's local government said it would shut down all urban transport networks and suspend outgoing flights from the city as of 10 a.m. (0200 GMT) Thursday, state media reported, adding that the government is urging citizens to not leave the city in the absence of special circumstances.

Contrasting with its secrecy over the 2002-03 Severe Acute Respiratory Syndrome (SARS), which killed nearly 800 people, China's communist government has this time given regular updates to try to avoid panic as millions of people travel for the Chinese Lunar New Year holiday.

Chinese authorities have confirmed 571 cases and 17 deaths as of end-Wednesday, state television reported on Thursday. There are eight other known cases around the world - Thailand has confirmed four cases, while the United States, Taiwan, South Korea and Japan have each reported one.

Vice Premier Sun Chunlan said during a visit to Wuhan that authorities needed to be open about the spread of the virus and their efforts to contain it, the official Xinhua news agency reported on Thursday, comments likely to reassure global health experts.

After a meeting at its Geneva headquarters on Wednesday, the World Health Organization (WHO) said it would decide on Thursday whether to declare the outbreak a global health emergency, which would step up the international response.

If it does so, it will be the sixth international public health emergency to be declared in the last decade.

WHO Director-General Tedros Adhanom Ghebreyesus told reporters in Geneva that China's actions so far were "very strong" but called in Beijing to take "more and significant measures to limit or minimise the international spread".

"We stressed to them that by having a strong action not only they will control the outbreak in their country but they will also minimise the chances of this outbreak spreading internationally. So they recognise that," he said.

A senior U.S. State Department official also called on China to "play a bigger role in global health so they taking more and significant measures to limit or minimise the international spread".

"The lack of transparency in the past, especially with SARS ... gives us concern that that may be the case here," the official said, adding however that there were "positive signs that they have taken action in Wuhan".

Fears of a pandemic initially spooked markets but they regained their footing on Wednesday, with investors citing the robust response from authorities as reassuring.

VIRUS SPREADING

The outbreak began in Wuhan, a major transportation hub as well as central China's main industrial and commercial centre, and has now spread to other major population centers including Beijing, Shanghai and Hong Kong.

There is no known cure for the virus. Symptoms include fever, difficulty in breathing and cough, similar to many other respiratory illnesses, and can cause pneumonia.

Chinese authorities are still investigating the origins of the virus, though they confirmed the outbreak began at a market in Wuhan with illegal wildlife transactions and that it can spread from one person to another via respiratory transmission. Among confirmed patients are 15 medical workers, further adding to worries about a possible global pandemic.

Many Chinese were canceling trips, buying face masks, avoiding public places such as cinemas and shopping centers, and even turning to an online plague simulation game as a way to cope.

Airports globally stepped up screening passengers from China and the European Centre for Disease Control and Prevention (ECDC) said in a risk assessment that further global spread of the virus was likely.

Britain joined other countries including Australia in advising citizens against all but essential travel to Wuhan.

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News Network
April 21,2020

New York, Apr 21: Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don't want to get stuck owning crude with nowhere to store it.

Stocks were also slipping on Wall Street in afternoon trading, with the S&P 500 down 0.9%, but the market's most dramatic action was by far in oil, where benchmark U.S. crude for May delivery plummeted to negative $3.70 per barrel, as of 2:15 pm. Eastern time.

Much of the drop into negative territory was chalked up to technical reasons — the May delivery contract is close to expiring so it was seeing less trading volume, which can exacerbate swings. But prices for deliveries even further into the future, which were seeing larger trading volumes, also plunged.

Demand for oil has collapsed so much due to the coronavirus pandemic that facilities for storing crude are nearly full.

Tanks could hit their limits within three weeks, according to Chris Midgley, head of analytics at S&P Global Platts.

Benchmark U.S. crude oil for June delivery, which shows a more ”normal” price, fell 14.8% to $21.32 per barrel, as factories and automobiles around the world remain idled. Big oil producers have announced cutbacks in production in hopes of better balancing supplies with demand, but many analysts say it's not enough.

“Basically, bears are out for blood,” analyst Naeem Aslam of Avatrade said in a report. “The steep fall in the price is because of the lack of sufficient demand and lack of storage place given the fact that the production cut has failed to address the supply glut.”

Halliburton swung between gains and sharp losses, even though it reported stronger results for the first three months of 2020 than analysts expected. The oilfield engineering company said that the pandemic has created so much turmoil in the industry that it “cannot reasonably estimate” how long the hit will last. It expects a further decline in revenue and profitability for the rest of 2020, particularly in North America.

Brent crude, the international standard, was down $1.78 to $26.30 per barrel. .

In the stock market, the mild drops ate into some of the big gains made since late March, driven lately by investors looking ahead to parts of the economy possibly reopening as infections level off in hard-hit areas.

Pessimists have called the rally overdone, pointing to the severe economic pain sweeping the world and continued uncertainty about how long it will last.

The Dow Jones Industrial Average was down 364 points, or 1.5%, to 23,887. The Nasdaq was down 0.1%..

More gains from companies that are winners in the new stay-at-home economy helped limit the market's losses Amazon rose 1.4%, and Netflix jumped 3.8% as people shut in at home buy staples and look to fill their time. Clorox likewise rose toward a new record and was up 1% as households and businesses that remain open look to stay clean.

In Tokyo the Nikkei 225 fell 1.1% after Japan reported that its exports fell nearly 12% in March from a year earlier as the pandemic hammered demand in its two biggest markets, the U.S. and China.

The Hang Seng index in Hong Kong lost 0.2%, and South Korea's Kospi fell 0.8%.

European markets were modestly higher The German DAX was up 0.5%, the French CAC 40 was up 0.7% and the FTSE 100 in London gained 0.7%.

In a sign of continued caution in the market, Treasury yields remained extremely low. The yield on the 10-year Treasury slipped to 0.64% from 0.65% late Friday. It started the year near 1.90%. Bond yields drop when their prices rise, and investors tend to buy Treasurys when they're worried about the economy.

Stocks have been on a generally upward swing recently, and the S&P 500 just closed out its first back-to-back weekly gain since the market began selling off in February. Promises of massive aid for the economy and markets by the Federal Reserve and U.S. government ignited the rally, which sent the S&P 500 up as much as 28.5% since a low on March 23.

More recently, countries around the world have tentatively eased up on business-shutdown restrictions put in place to slow the spread of the virus.

But health experts warn the pandemic is far from over and new flareups could ignite if governments rush to allow ”normal” life to return prematurely.

The S&P 500 remains about 15% below its record high in February as millions more U.S. workers file for unemployment every week amid the shutdowns.

Many analysts also warn that a significant part of the recent recovery in stocks is due to the expectation among some investors that the economy will rebound sharply once economic quarantines are lifted. They're essentially predicting that a line chart of the economy will ultimately resemble the letter “V,” with a wild ride down but then a quick pivot to a vigorous recovery.

That may be to optimistic. “We caution that a U-shaped recovery is also quite likely,” where the economy bottoms out and stays at that low level for a while before recovering, strategists at Barclays warned in a recent report.

Without strong testing programs for COVID-19, businesses likely won't feel comfortable bringing back their full workforces for a while.

”With risk assets now overbought, the chance for a correction has increased,” Morgan Stanley strategists wrote in a report.

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