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Transportation Marine

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  • *Tianjin port already suffered from delays before explosions. SINGAPORE/ SHANGHAI, Aug 17- Many operations have resumed at China's Tianjin port, trade sources said, after explosions last week that killed more than 100 people and disrupted business at what is an important oil, gas and bulk import harbor for Asia's biggest economy. The Tianjin Maritime Safety...

  • SHANGHAI/ SYDNEY, Aug 13- Two massive explosions at the Chinese port of Tianjin that ripped through parts of the terminal have hit iron ore import operations, as well as disrupting oil tanker arrivals and departures at this gateway to northeast China. Reuters shipping data showed there were more than two dozen tankers in the Tianjin port region, either waiting to...

  • *CEO says Maersk Line will defend its top market position. COPENHAGEN, Aug 13- A.P. Moller-Maersk plans to take action to defend and potentially expand its leading position in container shipping, sending a signal to rivals that it will become a more aggressive player in the market. It is a signal to the industry that we aim to keep our position as industry leader, "...

  • SHANGHAI/ SYDNEY, Aug 13- Two massive explosions at the Chinese port of Tianjin that ripped through parts of the terminal have hit iron ore import operations, as well as disrupting oil tanker arrivals and depatures at this gateway to for northeast China. Reuters shipping data showed there were more than two dozen tankers in the Tianjin port region, either waiting...

  • SINGAPORE, Aug 13- The deadly explosions in the northeast Chinese port city of Tianjin have disrupted chemical and oil tankers going in and coming out of the port, trading and shipping sources said on Thursday. Two huge explosions tore through an industrial area where toxic chemicals and gas were stored in Tianjin, killing at least 44 people and injuring...

  • Aug 7- Maritime stocks have broadly fallen this year as weak demand for some commodities and goods in Asia and oversupply of ships have hurt much of the industry, with one notable exception: Oil tankers have been doing a booming business and their shares are up as much as 50 percent year to date. The Guggenheim ETF includes companies ranging from oil tanker Nordic...

  • LONDON, Aug 6- The first international container ships began arriving in Iran this week after the nuclear deal between Tehran and world powers, yet many ship owners remain wary of resuming business until sanctions are removed- still some months away. Iran had depended on foreign ships for much of its imports, but has relied more on land routes and its own...

  • MUMBAI, Aug 6- Mumbai's commercial seaport, which handles over half the container traffic through India's major ports, is doubling capacity as Prime Minister Narendra Modi seeks to build an export powerhouse. The expansion, due to be completed in seven years, can't come quickly enough for Avinash Gupta, whose family business supplies steel forgings to Europe...

  • LONDON, Aug 5- Distressed debt investors are looking to buy shipping loans from Italian banks, encouraged by legal and regulatory changes that could reduce the chances of them getting embroiled in drawn-out bankruptcy proceedings. U.S. hedge funds including Davidson Kempner, King Street Capital, York Capital and Z Capital, have set their sights on an estimated...

  • *Egypt to offer new dollar-denominated bonds. CAIRO, Aug 1- Egypt has turned more than half of initial agreements signed at a March investor conference into investment projects, the planning minister said, as Cairo tries to regenerate an economy battered by years of turmoil. Egypt has signed exploration deals worth around $21 billion with global oil companies...

  • LONDON/ CAIRO, July 31- Imports of food, including wheat, are dropping sharply to Libya, which has the highest per capita bread consumption in the world, as foreign shippers run scared of making direct deliveries due to worsening turmoil. The risks are now so high ship owners should contact their insurers before each trip, said Jonathan Moss, head of transport with...

  • *Most insurers in Reuters survey say Iran attractive market. LONDON/ SYDNEY, July 26- Western and Middle East insurance specialists see Iran as an appealing $8 billion market in the wake of its nuclear deal with world powers, though uncertainty over when sanctions on Tehran will be lifted means they are treating the country with caution. Under the accord reached...

  • Ships cross Egypt's New Suez Canal in first test-run Saturday, 25 Jul 2015 | 7:53 AM ET

    ISMAILIA, Egypt, July 25- The first cargo ships passed through Egypt's New Suez Canal on Saturday in a test-run before it opens next month, state media reported, 11 months after the army began constructing the $8 billion canal alongside the existing 145- year-old Suez Canal. The new waterway, which President Abdel Fattah al-Sisi hopes will help expand trade along...

  • *Outlook for industry also bleak in Pakistan and Bangladesh. ALANG, India/ SINGAPORE, July 17- In the world's biggest ship recycling centre of Alang on India's Arabian Sea coast, workers with blow torches cut segments of steel stripped from the rusting hull of a towering cargo ship, sold for scrap by its Japanese owner. But in this town- located in Prime Minister...

  • SINGAPORE, July 16- Saudi Arabia, the world's top crude oil exporter, has turned itself into a major refined-fuels power, offering customers millions of barrels of diesel and potentially triggering a price war with Asian competitors as its exports feed into a glut. Saudi Arabia, a leading member in the Organization of Petroleum Exporting Countries, had pledged...

  • FACTBOX-Sanctions on Iran's oil sector Tuesday, 14 Jul 2015 | 6:13 AM ET

    July 14- Iran and six world powers reached a nuclear deal on Tuesday, capping more than a decade of negotiations with an agreement that could transform the Middle East, and which Israel called an "historic surrender." Under the deal, sanctions imposed by the United States, European Union and United Nations would be lifted in return for Iran agreeing long-term curbs...

  • REUTERS BUSINESS NEW SCHEDULE AT 1500 GMT/11 AM ET Monday, 6 Jul 2015 | 11:06 AM ET

    NEW YORK- Aetna Inc Chief Executive Officer Mark Bertolini says he is confident that an antitrust review of its proposed purchase of Humana Inc will allow the deal to close in the second half of 2016, seeking to allay investor concerns of significant regulatory hurdles. ATHENS/ FRANKFURT- Greece's outspoken finance minister resigns, removing a major obstacle...

  • SHANGHAI, July 3- China said on Friday it will allow 400,000- deadweight tonne ships to dock at its ports, officially ending a more than three-year ban that had effectively shut out Brazilian miner Vale SA's giant vessels. Four domestic ports- Qingdao, Dalian, Tangshan Caofeidian and Ningbo- will be allowed to receive the carriers after they meet technical...

  • BRUSSELS, June 29- European Commission President Jean-Claude Juncker said on Monday he had sought to get Greece to raise more tax from its shipping magnates as part of a cash-for-reform deal that the Athens government has rejected. The breakdown in talks between Athens and its international creditors has plunged the country deep into crisis and increased...

  • Kurdistan ramps up independent oil sales Monday, 29 Jun 2015 | 9:43 AM ET

    ANKARA/ ARBIL, June 29- Iraq's semi-autonomous Kurdistan region has ramped up independent oil sales since mid-June while cutting allocations to Iraq's state oil firm SOMO in an escalating dispute over export rights and budget payments. June became the first month of large independent sales since December last year, when Kurdistan agreed a deal with Baghdad...