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  • Baltic index resumes losses, ends below 350 points Tuesday, 26 Jan 2016 | 9:10 AM ET

    Jan 26- The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, resumed its fall on Tuesday to touch a new all time low on concerns of slowing global demand and vessel oversupply. Average daily earnings for capesize vessels, which typically transport 150,000- tonne cargoes such as iron ore and coal, decreased...

  • LONDON, Jan 26- Norwegian-born billionaire John Fredriksen has teamed up with investment bank Arctic Securities to form a ship broking company aimed at taking on bigger rivals and betting on a recovery in the global shipping market. Fredriksen, via his family's investment company Geveran Trading Co, and Oslo-headquartered Arctic Securities said on Monday...

  • COPENHAGEN, Jan 26- Global container ship capacity is expected to increase by 4.6 percent in 2016, the slowest growth rate in more than 25 years, giving some relief to an industry hammered by oversupply, consultancy firm Alphaliner forecast on Tuesday. With the International Monetary Fund expecting world economic growth of 3.4 percent in 2016, that would...

  • Baltic index bottoms out at record low Monday, 25 Jan 2016 | 11:26 AM ET

    Jan 25- The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, ended flat on Monday, primarily due to higher rates for capesize vessels and ending a run of 15 consecutive losing sessions. Average daily earnings for capesize vessels, which typically transport 150,000- tonne cargoes such as iron ore and coal,...

  • Vessel demand concerns extend Baltic index fall Friday, 22 Jan 2016 | 9:52 AM ET

    Jan 22- The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, extended its record low run to a 14th straight session on Friday on persistent vessel glut and weak demand. Average daily earnings for capesize vessels, which typically transport 150,000- tonne cargoes such as iron ore and coal, rose $176 to...

  • *Iran in talks with insurers to get its ships to sea- NITC. *Shippers estimate Iran needs around 25 new tankers. NEW DELHI/ SINGAPORE, Jan 22- Iran plans to list its national tanker company to raise badly needed cash to upgrade its massive fleet and replace older vessels, as the middle east country prepares for an aggressive return to the global oil market.

  • LONDON, Jan 20- United Arab Shipping Company is resuming business with Iran following the lifting of Western sanctions, despite the deep-seated political rivalry between the Islamic Republic and Saudi Arabia, one of the shipping line's main shareholders. Kuwait- headquartered UASC told Reuters on Wednesday it had "started accepting shipments to and from...

  • LONDON, Jan 20- United Arab Shipping Company, in which Saudi Arabia holds a stake, is resuming business to Iran, becoming the latest shipping line to re-establish ties after the lifting of Western sanctions, the group told Reuters on Wednesday. Kuwait- headquartered UASC, founded in 1976, said "the carrier started accepting shipments to and from Iran".

  • LONDON, Jan 19- Italy's RINA expects to start verifying safety and environmental standards for Iranian ships including oil tankers in a matter of weeks, the classification society said, stealing a lead on rivals as business interest in Iran heats up. RINA said it had signed an agreement this week with Iran's Asia Classification Society, enabling the Genoa-...

  • LONDON, Jan 19- Foreign oil tanker owners are expected to make a slow return to Iran despite the lifting of many sanctions as insurers tread carefully, leaving shipping players unwilling to pick up cargoes as quickly as Tehran has wanted. A nuclear deal between world powers- known as the P5 +1- and Iran led to the removal on Saturday of international oil export...

  • *If Greece measured shipping like others, industry would be smaller. PIRAEUS, Greece, Nov 25- On the day he took office as Greece's shipping minister in June 2012, Kostis Moussouroulis received a visit from a 90- year-old shipowner. The magnates who run one of the biggest merchant marine fleets in the world have long argued that if Greece tried to tax them, they would...

  • Baltic index tumbles further over demand worries Tuesday, 19 Jan 2016 | 9:32 AM ET

    Average daily earnings for capesize vessels decreased by $68 to a new record low of $2,662. Capesizes typically transport 150,000- tonne cargoes such as iron ore and coal and have been particularly affected by a fall-off in coal and iron ore demand in China. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to...

  • Ample storage space for oil may limit price moves Tuesday, 19 Jan 2016 | 6:20 AM ET

    *New storage capacity to come on line in Asia this year. New storage tanks built in recent years, mostly in the United States and Asia, leave hundreds of millions of barrels of space to fill, confounding expectations that excess production could overflow tanks and drive prices further down. Benchmark Brent crude dipped below $28 a barrel on Monday, its lowest level...

  • LONDON/ HOUSTON, Jan 18- An agreement to build oil tankers in Iran for Venezuela has been left in limbo years after it was announced as Western sanctions plus disagreements over payments and delivery terms took their toll, sources familiar with the matter say. The deal was heralded in 2006 with much fanfare by Tehran and the socialist government of...

  • Baltic index slump continues on demand concerns Friday, 15 Jan 2016 | 9:54 AM ET

    Jan 15- The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, touched a record low for the ninth straight session Friday, mostly due to vessel oversupply and lack of global demand. The overall index, which gauges the cost of shipping dry bulk cargoes including iron ore, cement, grain, coal and fertilizer, was...

  • *Iran wants to up exports to India by 200,000 bpd within 6 months. *Iran has over a dozen super-tankers ready for discharge. Iran expects the United Nations nuclear watchdog to confirm on Friday it has curtailed its nuclear program, paving the way for the unfreezing of billions of dollars of assets and an end to bans that have crippled its oil exports.

  • *Iran wants to up exports to India by 200,000 bpd within 6 months. *Iran has over a dozen super-tankers ready for discharge. SINGAPORE/ LONDON/ NEW YORK, Jan 15- With Iran poised to resume usual business ties with the world under a historic nuclear deal, Tehran is set to target India, Asia's fastest-growing major oil market, and old partners in Europe with hundreds of...

  • SAN FRANCISCO, Jan 14- Amazon.com Inc's China arm has registered as an ocean freight forwarder, according to the U.S. Federal Maritime Commission, a move that will give it more control over shipping products from Chinese factories to U.S. shoppers. Amazon is already negotiating a deal to lease 20 jets to start an air-delivery service in the United States, the...

  • SAN FRANCISCO, Jan 14- Online retailer Amazon.com Inc's China division has registered as an ocean freight forwarder, according to the U.S. Federal Maritime Commission, a move which allows it to coordinate cargo shipments between China and the United States. Amazon is already negotiating a deal to lease 20 jets to start its own air-delivery service in the United...

  • Baltic index slides further as demand woes continue Thursday, 14 Jan 2016 | 9:31 AM ET

    Average daily earnings for capesize vessels dropped $160 to a record low of $2,941. Capesizes typically transport 150,000- tonne cargoes such as iron ore and coal and have been particularly affected by a fall-off in coal and iron ore demand in China. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000...