Transportation Marine

  • *Move seen adding $35- 40 bln of costs in container shipping. LONDON, Oct 27- The United Nations' shipping agency set global regulations on Thursday to limit the amount of sulphur emissions from vessels and said they would come into force from 2020.. A session of the International Maritime Organization's Marine Environment Protection Committee in London set the...

  • *Move seen adding $35- 40 bln of costs in container shipping. LONDON, Oct 27- The United Nations' shipping agency set global regulations on Thursday to limit the amount of sulfur emissions from vessels and said they would come into force from 2020.. A session of the International Maritime Organization's Marine Environment Protection Committee in London set the...

  • COPENHAGEN, Oct 27- The Panama Canal is likely to attract up to 15 percent more tonnage next year after an upgrade which means it can now accommodate gas tankers previously too large to transit, its operator said on Thursday. The expanded canal opened in June, fitted with new locks that allow ships three times bigger than previously to pass through.

  • COPENHAGEN Oct 27- Container shipping firm Islamic Republic of Iran Shipping Lines expects to have regained by the middle of next year the business lost while Iran was subject to international sanctions, its chairman said on Thursday. International sanctions were lifted in January following an agreement with world powers on Tehran's disputed nuclear...

  • SINGAPORE, Oct 27- Global efforts to cut carbon dioxide emissions will be key for the adoption of liquefied natural gas as a marine fuel, German shipowner and ship-management firm Bernhard Schulte said. Shipping emits around 1 billion tonnes of carbon dioxide, accounting for about 2.5 percent of global greenhouse gas emissions, but this can be cut by about 75...

  • COPENHAGEN, Oct 26- Other container shipping firms may join Hanjin Shipping Co Ltd in receivership before the industry emerges from its current shakeout, the vice chairman of world number three player CMA CGM said on Wednesday. South Korea's Hanjin filed for protection from creditors in late August, stranding $14 billion in cargo and sending shockwaves...

  • *Egypt short for dollars, container shippers in downturn. COPENHAGEN, Oct 25- Egypt is in talks with global shipping firms to change the way it charges vessels to pass through the Suez Canal, offering discounts for advance payments as it seeks to raise much-needed hard currency from a struggling industry. Egypt aims to double its revenue from the Canal by 2023 with...

  • *Iran insurance market $9 bln, may double in next decade. LONDON, Oct 21- Western insurers are slowly reaching deals with Iran as they seek to re-enter a multi-billion dollar market although the pace of business is hampered by banking restrictions ten months on from the lifting of international sanctions. Shut out of international financial markets for years,...

  • *Hanjin owns 54 pct of Long Beach Terminal operator. SEOUL, Oct 21- Hanjin Shipping Co Ltd is in talks to sell its stake in the Long Beach Terminal in California to Geneva- based Mediterranean Shipping Company S.A., a spokesman for the Seoul court overseeing the shipper's receivership said on Friday. Hanjin Shipping owns a 54 percent stake in Total Terminals...

  • DETROIT, Oct 20- Union Pacific Corp reported a lower-than-expected quarterly profit as freight volumes declined and it forecast a further drop in the current period due partly to the strong U.S. dollar and soft demand for consumer goods. "The macroeconomic environment still has its challenges- an unstable global economy, the relatively strong U.S. dollar, and...

  • DETROIT, Oct 20- Union Pacific Corp reported a lower-than-expected quarterly profit as freight volumes declined and forecast a drop in the current period due partly to the strong U.S. dollar and soft demand for consumer goods. "The macroeconomic environment still has its challenges- an unstable global economy, the relatively strong U.S. dollar, and continued...

  • Oct 17- An unmanned Antares rocket owned by Orbital ATK Inc blasted off from Virginia on Monday with a cargo ship for the International Space Station, marking the booster's return to flight two years after a previous version exploded at liftoff. The 14- story-tall rocket, powered by a pair of new Russian-made engines, lifted off from Wallops Island, Virginia, at...

  • Oct 17- An unmanned Antares rocket owned by Orbital ATK Inc blasted off from Virginia on Monday with a cargo ship for the International Space Station, marking the booster's return to flight two years after a previous version exploded during liftoff. The 14- story-tall rocket, powered by a pair of new Russian-made engines, lifted off from Wallops Island, Virginia,...

  • Oct 17- An unmanned Antares rocket owned by Orbital ATK Inc blasted off from Virginia on Monday with a cargo ship for the International Space Station, marking the booster's return to flight two years after a previous version exploded during liftoff. Launch was delayed five minutes to resolve a minor glitch with the rocket, according to NASA commentator Brandi...

  • SEOUL, Oct 13- South Korea's Hanjin Shipping Co Ltd is selling major businesses, including its Asia to U.S. route network, and will receive letters of intent by Oct. 28, the company said on Thursday. Hanjin Shipping received court approval to seek buyers for assets in order to pay back creditors now in the process of making claims until Oct. 25. A spokesman for the Seoul...

  • *Firm has ambitious plans for LNG supply network in Asia. SEOUL/ BEIJING, Oct 12- A little-known investment company said it intends to order up to 20 liquefied natural gas carriers, probably from South Korean shipbuilders. CBI Energy and Chemical, which is controlled by Australian and Canadian investors and has offices in Hong Kong, also said in a statement to...

  • *Firm has ambitious plans for LNG supply network in Asia. SEOUL/ BEIJING, Oct 12- A little-known investment company said it intends to order up to 20 liquefied natural gas carriers, probably from South Korean shipbuilders. CBI Energy and Chemical, which is controlled by Australian and Canadian investors and has offices in Hong Kong, also disclosed in a statement to...

  • China's Fosun International Ltd took that history to heart last year when it paid $1.84 billion for the remaining 80 percent stake of U.S. property and casualty insurer Ironshore Inc that it did not already own. But in December 2015, one month after Fosun completed the acquisition, it was approached by officials at the Committee on Foreign Investment in the...

  • LONDON, Oct 10- Missile attacks from Yemen on Western military craft risk spilling over into nearby busy sea lanes which could disrupt oil supplies and also other vital goods passing through the tense area, shipping and insurance sources say. The route is among the world's busiest and used by major shipping groups such as container line Maersk and oil tanker...

  • TOKYO/ SINGAPORE, Oct 7- Nippon Yusen, Japan's biggest shipper by sales, warned it would book a $1.9 billion hit to first-half income, after the industry's deepening slump forced it to write down the value of container ships and other assets. Chronic oversupply in the industry has already claimed one high profile victim this year: South Korea's Hanjin Shipping Co...