SAN FRANCISCO— Federal authorities on Thursday charged FedEx with assisting illegal pharmacies by knowingly delivering painkillers and dangerous drugs to customers without prescriptions. The indictment filed in federal court in San Francisco alleges that FedEx Corp. conspired with two related online pharmacies for 10 years ending in 2010..» Read More
COPENHAGEN, July 10- The world's top two container shippers, Maersk Line and MSC Mediterranean Shipping Co, have struck a fresh vessel-sharing agreement after a previous three-way pooling deal known as P3 was undone by China's failure to approve it.
*BP, Anadarko, IBV are partners in areas hit by writedown. Maersk bought the assets from South Korea's SK Energy Co Ltd for $2.4 billion in 2011. On Tuesday, Brazil's HRT Participacoes em Petroleo SA said it bought Maersk's 40 percent Polvo stake for an undisclosed sum.
*Black Sea grain exports set to grow, intensifying export price rout. "When it comes to the grain season ex U.S. we believe this will be a strong season and we believe the same will be the case with the season ex Black Sea," said Jens Ismar, chief executive of shipping group Western Bulk.
*Shipping sector under pressure to use fuels with lower emissions. SINGAPORE, July 7- Methanol, a fuel used to power light aircraft and racing cars, is being tried out as alternative for ships, highlighting its potential in an industry under pressure to cut emissions.
The recession took the boating industry from 400,000 new yearly registrations to less than 200,000. Now it is floating again.
The CSI300 of the leading Shanghai and Shenzhen A-share listings was off 0.1 percent. Dalian Port PDA and Rizhao Port plunged 10 and 9.4 percent, respectively, while China Shipping Container Lines shed 3.4 percent. Property giant China Vanke was the top CSI300 boost, climbing 3.9 percent in Shenzhen, while Poly Real Estate Group rose 1.8 percent in Shanghai.
LAUNCESTON, Australia, July 2- Events seldom unfold in isolation and the recent surge in sectarian violence in Iraq appears to be leading to some shifts in Asian crude oil markets.
Philly Tankers AS, majority-owned by Aker Philadelphia Shipyard is building four ships on spec, and Seabulk Tankers Inc, an indirect wholly-owned subsidiary of SEACOR Holdings Inc, is building another two.
The answer will determine what is left for Genco shareholders after its lenders and other creditors are repaid. Financial advisers at Blackstone, which was retained by Genco to value the company, argued the shipper was worth between $1.36 billion and $1.44 billion based on the market value of its ships and other assets.
June 24- Nautilus Holdings Ltd, a Bermuda- chartered company that leases container ships, has filed for Chapter 11 bankruptcy protection in New York, becoming the latest victim of a depressed shipping industry. The company has about $770 million in debt, according to papers filed late Monday with the U.S. Bankruptcy Court in Manhattan.
*Israel keen to build rapport with Kurds. *Israel previously bought small cargoes of trucked oil. LONDON, June 20- A tanker delivered a cargo of disputed crude oil from Iraqi Kurdistan's new pipeline for the first time on Friday in Israel, despite threats by Baghdad to take legal action against any buyer.
LONDON, June 20- Iraqi Kurdistan looked set to unload its first cargo of disputed crude oil in Israel from its new pipeline after weeks of seeking an outlet as Iraq's central government has threatened legal action against any buyer.
SHANGHAI, June 18- China's scuppering of a planned alliance of the world's top three container shipping lines signals its protectionist stance on key industries and is a reminder to foreign firms to not take Beijing's nod for granted on deals, analysts and lawyers said.
June 17- Iraq's oil exports, confined to its southern terminals, have not so far been affected by escalating violence in the north, where an export pipeline has been out of action since March.
June 16- Star Bulk Carriers Corp said it would buy Oceanbulk Shipping LLC and Oceanbulk Carriers LLC in an all-stock deal to create the largest U.S.-listed dry bulk shipper.
June 16- Star Bulk Carriers Corp said it would buy fellow dry bulk carriers Oceanbulk Shipping LLC and Oceanbulk Carriers LLC in an all-stock deal that will make Oaktree Capital Management its largest shareholder.
LONDON, June 11- Russian oil firm Rosneft bought a cargo of Kurdish oil for a German refinery it co-owns with oil major BP, quietly circumventing Baghdad's ban on independent oil sales by its autonomous region, according to trading sources.
June 9- Morgan Stanley is selling its controlling stake in oil storage and transport company TransMontaigne Inc to NGL Energy Partners LP for $200 million, essentially ending its long run as the biggest physical oil trader on Wall Street.
June 9- Morgan Stanley is selling its controlling stake in oil pipeline company TransMontaigne Inc to NGL Energy Partners LP for $200 million, essentially ending its long run as the biggest physical oil trader on Wall Street.
RUSSIA WILL NOT PRIVATIZE TELECOMS COMPANY ROSTELECOM, SHIPPING COMPANY SOVKOMFLOT, NOVOROSSIISK SEA PORT THIS YEAR- RIA CITES DEPUTY FINANCE MINISTER NESTERENKO.