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Transportation Marine

  • SAVANNAH, Ga.— President Donald Trump wants $108 million to deepen harbors for two U.S. seaports, while other ports scrambling to make room for larger cargo ships will benefit from a boost of more than $56 million already approved by Congress. While Congress has authorized 15 total port projects to pursue deeper and wider shipping channels, Trump's proposed...

  • *AGM on May 29 to approve $400 mln cash call. FRANKFURT, May 24- Hapag-Lloyd and Arab sector peer UASC are focused on speedy integration, Hapag's chief executive said after the German company announced completion of their delayed merger to creates the world's fifth-biggest shipping company. "We now not only have a very strong market position in Latin America and...

  • LONDON/ DUBAI, May 24- Dubai is looking into creating a $1 billion investment fund focused on shipping to develop the Gulf city's maritime sector and ride out a global industry downturn, three finance sources familiar with the plans say. The sources said the Dubai Maritime City Authority, the government entity responsible for developing the maritime industry...

  • GULF-BASED BIDDERS EMERGE FOR UACC, THE PART-OWNED SUBSIDIARY OF UNITED ARAB SHIPPING COMPANY- SOURCES.

  • LONDON/ DUBAI, May 23- Gulf-based bidders have emerged for the part-owned subsidiary of United Arab Shipping Company whose sale is key to finalizing the merger between UASC and German container shipping line Hapag Lloyd, sources close to the matter said. Last week, sources told Reuters that Hapag Lloyd was close to completing the 7- 8 billion-euro merger after...

  • LONDON/ FRANKFURT, May 18- German shipping line Hapag Lloyd is close to completing a merger with United Arab Shipping Company after UASC's shareholders agreed terms to repay outstanding debts, sources familiar with the talks told Reuters. It would give Hapag Lloyd access to bigger ships on the major Asia to Europe trade route. Sources also told Reuters in March...

  • HAMILTON, Bermuda _ Teekay Tankers Ltd. on Thursday reported first-quarter net income of $2.8 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • *Russia hopes to raise 30 bln roubles from sale. MOSCOW, May 18- Russia plans to sell part of state shipping firm Sovcomflot next month, hoping to draw in a wide range of small-stake investors rather than a strategic buyer who could threaten Moscow's control of the group, banking and industry sources say. Sovcomflot is led by Sergei Frank, once transport minister...

  • May 12- The United States and China have agreed to take action to expand bilateral trade in beef and chicken as well as taking other steps as part of Washington's drive to narrow the U.S. trade deficit with China. China will allow U.S. imports of beef no later than July 16, and the United States will issue a proposed rule to allow Chinese cooked poultry to enter U.S....

  • LONDON, May 9- Yemen's worsening conflict is contributing to a spike in piracy in the region, with Somali pirates taking advantage of a reduced international naval presence and more readily available weaponry to carry out attacks. "The regional instability caused by Yemen is important," Colonel Richard Cantrill, chief of staff with the European Union's counter...

  • HAVANA, May 3- Russia has begun shipping large quantities of oil to Cuba for the first time this century, sources said, as supplies to the island from crisis-wracked Venezuela have dwindled. A Russian oil tanker with 249,000 barrels of refined products is due to arrive in Cuba on May 10, according to Reuters shipping sources and others, bringing back memories of...

  • Some academics who study North Korea argue Kim could be looking for Russia to ease any pain if China, which accounts for about 90 percent of North Korea's trade, steps up sanctions against the isolated country as part of moves to deter its nuclear and missile programmes. There is no sign of any sustainable increase in trade between Russia and North Korea, but...

  • Some academics who study North Korea argue Kim could be looking for Russia to ease any pain if China, which accounts for about 90 percent of North Korea's trade, steps up sanctions against the isolated country as part of moves to deter its nuclear and missile programmes. There is no sign of any sustainable increase in trade between Russia and North Korea, but...

  • *Bulk of attacks occurred off Nigeria. OBP, a project of the privately funded One Earth Future Foundation that encourages cooperation across the international maritime community to tackle piracy, recorded 95 attacks in West Africa's Gulf of Guinea in 2016, up from 54 the previous year. Only one successful hijacking- the product tanker Maximus, which was...

  • COPENHAGEN, April 28- The world's biggest container shipping company Maersk Line will pay 3.7 billion euros for its acquisition of smaller German rival Hamburg Sud, it said on Friday. "By keeping Hamburg Sud as a separate and well-run company, we will limit the transaction and integration risks and costs while still extracting the operational synergies," said...

  • NEW YORK, April 26- The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May. Swiss-based Mercuria Energy Trading S.A. loaded more than 600,000 barrels of...

  • NEW YORK, April 26- The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May. Swiss-based Mercuria Energy Trading S.A. loaded more than 600,000 barrels of...

  • NEW YORK, April 26- The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May. Swiss-based Mercuria Energy Trading S.A. loaded more than 600,000 barrels of...

  • Now, at least two East Coast refiners, Phillips 66 and Delta Air Lines Inc's subsidiary Monroe Energy, are looking to move more crude by ship from Texas into the Philadelphia area. This option is more expensive than oil imported to the East Coast, typically from Nigeria. Analysts and traders expected that once the Dakota line came into service, East Coast and West...

  • LONDON/ TAIPEI, April 21- Taiwan's troubled Yang Ming Marine Transport Corp is halting its container service to Iran, becoming the first foreign shipping line to abandon the route a year after international sanctions on Tehran were lifted, according to a company source. Yang Ming, the world's ninth largest container shipping line, is a comparatively small...