Stocks Drop 1% as Fed Tapering Fears, Weak China Data Rattle Markets
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The law generally requires that the maritime transport of cargo between points in the United States be carried by U.S.-flagged vessels that are at least 75 percent owned and crewed by U.S. citizens, with U.S. officers and built in U.S. shipyards.
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*More crude sailing from US Gulf Coast to Canada. NEW YORK/ LONDON, May 1- Oil traders including commodities giant Trafigura and Australian bank Macquarie have quietly begun shipping U.S. crude oil from Texas to Canada, raising the ire of U.S. East Coast refiners who may pay four times as much for a similar voyage.
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April 30- Great Eastern Shipping Co Ltd:. *Says to sell Jag Leela Aframax crude carrier; delivery in Q1 FY 2014. *Source text:* Further company coverage.
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LONDON, April 29- Crude oil tanker earnings on the major Middle East route stayed weak on Monday as slower bookings and a glut of available vessels took their toll.
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LONDON, April 29- Clean tanker rates for refined petroleum products on top export routes were mostly lower on Monday as slower bookings and a surplus of vessels weighed on earnings. Rates for medium-range tankers for 37,000 tonne cargoes from Rotterdam to New York were at W150.00, or $15,677 a day when translated into average earnings.
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April 26- For a full statement on the results of China Shipping Container Lines Co Ltd, which is engaged in the operation and management of container shipping, please click on:.
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-#Agricultural Bank of China Ltd. -#Aluminum Corporation of China Ltd. Q1 results.-# Angang Steel Co Ltd Q1 results.
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*Crewmen from Ukraine, Russia and Kiribati seized. Hamburg- based shipping firm Leonhardt and Blumberg said the four hostages- two Ukrainians, a Russian and one from the Pacific island nation of Kiribati- were taken when the Liberia- flagged Hansa Marburg was attacked on Tuesday by armed men.
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April 25- (The following statement was released by the rating agency. Impaired loans and losses from banks' shipping portfolios are likely to remain high, Fitch Ratings says. The shipping crisis is likely to last longer than we originally expected, putting greater pressure on the asset quality of banks with large exposures to the sector.
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FRANKFURT/ LONDON, April 25 Impaired loans and losses from banks' shipping portfolios are likely to remain high, Fitch Ratings says. The shipping crisis is likely to last longer than we originally expected, putting greater pressure on the asset quality of banks with large exposures to the sector.
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-1130 Bank of China Ltd. FTSE Group in developing "FTSE-BOCHK offshore RMB bond index series" press briefing. 70/ F, Bank of China Tower, Central. Board meeting at 0930.-# Bank of China Ltd Q1 results.
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*Iran's tanker company faces growing trade pressure. LONDON, April 24- Iran is storing millions of barrels of oil on tankers in its territorial waters as Tehran struggles with tougher Western sanctions on its vital seaborne export trade, ship industry sources say.
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*Canary Wharf now rivals the old City of London in clout. LONDON, April 16- Where a maze of derelict warehouses and old cranes once testified to Britain's decline, glass skyscrapers teeming with traders now dominate London's docks, a metaphor- for good and ill- for Margaret Thatcher's free-market revolution.
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*Port operator backed by Hong Kong's richest man Li Ka- shing. HONG KONG, April 10- Striking dock workers at a port operator backed by Hong Kong's richest man Li Ka- shing failed to reach a deal for higher pay on Wednesday, prolonging a dispute that could cost the city its position as the world's third-largest container port.
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*Iran exports nearly 18 mln barrels in Q1, up 12.5 pct on qtr. SINGAPORE, April 10- Iran exported nearly 18 million barrels of fuel oil in the first quarter, or around 200,000 barrels per day, an increase of nearly 12.5 percent from the previous quarter, according to traders and data from Thomson Reuters Oil Analytics.
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*Port operator backed by Hong Kong's richest man Li Ka- shing. HONG KONG, April 10- Striking dock workers at a port operator backed by Hong Kong's richest man Li Ka- shing failed to reach a deal for higher pay on Wednesday, prolonging a dispute that could cost the city its position as the world's third-largest container port.
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April 3- Canadian Pacific Railway Ltd suffered its second oil spill in a week on Wednesday, but said just four barrels of light crude leaked from tanker cars in a morning derailment in a remote area of northern Ontario.
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*West African crude replacing Iranian shipments to India, China. Chief Executive Herbjorn Hansson said Western sanctions on doing business with Iran had led to an increase in oil shipments from West African countries to energy-hungry China and India- longer routes that generate bigger revenues for shipping firms.
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LONDON/ CAIRO, March 20- When it raises tolls in May, Egypt's Suez Canal Authority will know that fuel costs rule out alternative routes, but some in the shipping industry say the calculation could reach a tipping point if the risk of delays from unrest increases.
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*China soybean cancellations weigh on CBOT futures. BEIJING/ SINGAPORE, March 19- China's leading soybean trader, the Sunrise Group, will cancel almost 2 million tonnes of Brazilian soybean cargoes because shipments have been delayed by severe port congestion in the South American nation, a company official said.