CAPE CANAVERAL— A SpaceX cargo ship rocketed toward the International Space Station on Sunday, carrying the first 3- D printer for astronauts in orbit. In all, the unmanned Dragon capsule is delivering more than 5,000 pounds of space station supplies for NASA. Sunday was a red-letter day for NASA in more ways than one.» Read More
April 11- Ally Financial Inc wanted the U.S. government sell its entire 36.8 percent stake in the auto lender on Thursday, but the IPO market wouldn't cooperate so it had to settle for less.
*Greece sees signs of better times. PIRAEUS, Greece, April 9- Nikos Mavrikos has fired half of his employees since 2010 as the Greek economy imploded, leaving his ship supply business on the verge of collapse. "People are slowly starting to trust Greece again," says Mavrikos, who hopes to take on even more employees soon at his family-owned business.
WASHINGTON, April 8- The United States should strengthen a century-old law designed to protect the domestic shipping industry, rather than relax it under pressure from the energy industry, the chair of the Senate Energy Committee said on Tuesday.
SHANGHAI, April 7- Chinese banks are stuck in a lose-lose legal battle between domestic shipyards and foreign buyers over billions of dollars in refund guarantees that are supposed to be paid out if shipbuilders fail to deliver on time.
OTTAWA, April 3- Governments should require companies shipping crude oil by rail to carry enough liability insurance to make up for shortfalls in coverage carried by railways, the president of Canada's second-largest rail operator said on Thursday.
LONDON, April 3- Global private equity firm KKR has bought $150 million worth of shipping loans from two European banks amid a surge of interest in the industry as world trade in goods picks up along with the global economy.
*Full-year net loss balloons to $1.4 billion. HONG KONG, March 31- China Rongsheng Heavy Industries Group has agreed with banks to extend loans and other financing worth 10 billion yuan to 2015, in a signal that the country's biggest private shipbuilder may be too big to be allowed to fail. Jon Windham, an analyst at Barclays, told Reuters. "
*Rongsheng posts 2013 net loss of $1.4 billion. *Ship orders were worth $726 mln vs target of $1.8 bln. HONG KONG, March 31- China's biggest private shipbuilder, China Rongsheng Heavy Industries Group, posted a second straight annual loss as new orders were less than half its target, and is in talks with banks about loan repayments.
*Libya struggling with progress three years after Gadaffi ouster. TRIPOLI, March 30- When a militia holding Libya's eastern ports loaded a North Korean-flagged tanker with oil earlier this month, the Libyan parliament sacked its own prime minister and turned to U.S. commandos to bring its cargo back.
HONG KONG, March 27- China COSCO Holdings returned to profit in 2013 thanks to investment gains from asset disposals during a global shipping downturn, avoiding a possible delisting after losses in the two previous years.
*Coast Guard stretches shipping cutoff to midnight from 6 p.m.; to resume at daylight. On Tuesday, when both inbound and outbound traffic resumed, the Coast Guard stopped movement at about 6 p.m. CDT to limit the spread of fuel oil floating in Galveston Bay.
HOUSTON, March 26- More ships were waiting on Wednesday morning to sail through the Houston Ship Channel as the cleanup of a Saturday fuel oil spill in Galveston Bay continued, the U.S. Coast Guard said.
John Nelson, Chairman of Lloyd's of London describes that while it has diversified from marine insurance, it still remains significant in Asia.