KUALA LUMPUR, Malaysia— Pirates pilfered diesel fuel from a Thai tanker off Malaysia's east coast, making two attacks in a week and raising concerns of a rising threat to shipping, a maritime watchdog said Thursday.» Read More
Jan 6- XPO Logistics Inc said it would buy Pacer International Inc for $335 million to become the third-largest North American provider of intermodal services, one of the fastest-growing areas of transportation logistics. Pacer shareholders will receive $6 in cash and $3 in XPO stock for each share they hold, XPO said on Monday.
LONDON, Dec 23- The Syrian government of President Bashar al-Assad has received substantial imports of Iraqi crude oil from an Egyptian port in the last nine months, shipping and payments documents show, part of an under-the-radar trade that has kept his military running despite Western sanctions.
SEOUL, Dec 22- South Korea's Hyundai Group said on Sunday it plans to raise more than 3.3 trillion won by selling off its three financial units and taking other steps to ease concerns over affiliates' high levels of debt.
SINGAPORE Dec 20- Dirty tanker rates on key Asian freight routes could edge down next week due to year-end holidays, but are likely to remain firm, ship brokers said on Friday. Rates on the benchmark very large crude carrier export route to Japan from the Middle East on Thursday rose to W62.5 in the Worldscale measure, up from W61 a week earlier.
Charter rates for ships carrying dry bulk cargoes such as nickel ore and bauxite to China from Indonesia have already soared more than 50 per cent from late August to early December after Beijing boosted imports ahead of the planned ban, shipping data showed.
LONDON, Dec 18- After a five-year slump in shipping, investors are betting on better times by taking over shipowners' debts from European banks keen to offload troubled loans to bolster their balance sheets.
SHANGHAI, Dec 18- Asia's top companies were less upbeat about their business outlook in the last quarter of the year, compared to the third quarter, with lingering concerns over the global economy and rising costs among the major issues weighing down sentiment, the latest ThomsonReuters/INSEAD Asia Business Sentiment Survey published on Wednesday showed.
CHICAGO, Dec 13- Don't believe the gassy hype. The United States may be floating on an ocean of cheap, domestically sourced natural gas. That's sent the domestic price of natural gas plunging and fanned big talk from heavy hitters like General Electric's Lorenzo Simonelli about its future as a transport fuel.
LONDON, Dec 11- Embattled European refiners are looking east in the scramble for customers, delivering what could be record volumes of naphtha to Asia in January and seeking Asian buyers for gasoline as their traditional U.S. market dries up.
*Document-heavy bills of lading slow and cumbersome. LONDON, Dec 10- When importing a single cargo by sea requires an average of 36 original documents and 240 copies from 27 parties, the only wonder is that it has taken so long for trade houses and miners to embrace electronic shipping documents.
RUGAO, China/ SINGAPORE, Dec 6- Deserted flats and boarded-up shops in the Yangtze river town of Changqingcun serve as a blunt reminder of the area's reliance on China Rongsheng Heavy Industries Group, the country's biggest private shipbuilder. Rongsheng lost an annual record 572.6 million yuan last year, and lost 1.3 billion yuan in the first half of this year.
HONG KONG, Dec 4- China Rongsheng Heavy Industries Group, the country's largest private shipbuilder, said on Wednesday it expects to report a substantial full-year loss just months after it appealed to the government for financial help.
Greek ship owner Dryships Inc has already questioned whether some of the ships on order at China Rongsheng will be delivered, which could hit its revenue and profitability next year. Dryships has four dry bulk carriers on order at the company's shipbuilding subsidiary, Jiangsu Rongsheng Heavy Industries, that are due for delivery in 2014..
COPENHAGEN, Dec 3- Global container shipping companies have a strong appetite for new vessels, despite existing overcapacity, because they want to trade up to larger ships to benefit from economies of scale, according to shipping analysts.
PARIS, Dec 3- France will allow private security forces to protect its shipping fleet against the threat of piracy with armed guards, the French government said on Tuesday. France is one of the main contributors to an international naval force that patrols the waters off Somalia in the Gulf of Aden and the Indian Ocean to foil pirate attacks.
PARIS, Dec 3- France will allow private security forces to protect its shipping fleet against the threat of piracy, Prime Minister Jean-Marc Ayrault said in an interview published on Tuesday. France is one of the main contributors to an international naval force that patrols the waters off Somalia in the Gulf of Aden and the Indian Ocean to foil pirate attacks.
The Navy said on Wednesday it had suspended all contracts with British-based Inchcape Shipping Services Holding Ltd, a unit of Dubai World, because of questionable conduct.
HONG KONG, Nov 29- Hong Kong shares crept higher early on Friday, with mainland markets again tepid and the Chinese shipping sector buoyed by surging dry bulk rates and media reports that a plan to rejuvenate the industry has been submitted to the State Council for approval.
WASHINGTON, Nov 27- The Navy said on Wednesday it has suspended a maritime services company from doing business with the U.S. government due to questionable conduct, the second firm barred in a widening corruption probe that has resulted in action against seven Navy officials.
Iran and six world powers reached a deal on Sunday to curb Tehran's nuclear programme in exchange for limited sanctions relief, including a pledge to allow some Iran oil shipments to be covered by UK- dominated providers of shipping insurance.