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  • *Baltic says holding discussions with several parties. *SGX puts in preliminary bid for Baltic Exchange. LONDON/ SINGAPORE, Feb 26- The Baltic Exchange confirmed on Friday it had received a number of "exploratory approaches" after the Singapore Exchange Ltd revealed it was seeking to buy the business which has been the hub of the global shipping market for...

  • LONDON/ SINGAPORE, Feb 26- Singapore Exchange Ltd said it had submitted an initial offer to buy the Baltic Exchange, the hub of the global shipping market, a move aimed at shoring up the Southeast Asian exchange operator's business. Other potential bidders include CME Group, ICE and Platts, sources had earlier told Reuters. CME, ICE and Platts declined to comment, as...

  • LONDON/ SINGAPORE, Feb 25- The Baltic Exchange, the hub of the global shipping market, has held talks with potential buyers including Singapore Exchange Ltd, months after the London Metal Exchange made an approach to buy it, sources familiar with the matter told Reuters. In October, sources said the London Metal Exchange had informally approached the London- based...

  • By the end of this century, summers in the Arctic could be free of ice. Russia, in particular, is keen to expand shipping through the Arctic given its rich natural resources and efforts to cut costs. "It is time for regulators to wake up and realise that the Arctic is melting away right in front of us," said Whit Sheard of the Circumpolar Conservation Union green group.

  • HONG KONG, Feb 19- Off the coast of a nearly deserted island below the southern tip of Hong Kong, at least 10 massive ships that normally carry hundreds of thousands of tons of coal or iron ore lie idle near one of the world's busiest sea routes. We have been hit by a perfect storm- huge order books, China slowdown, the end of quantitative easing, lurking European monetary...

  • Rochelle Hamm's husband, 49- year-old Frank Hamm of Baltimore, died on Oct. 1 when the El Faro went down off the Bahamas in the worst cargo shipping disaster involving a U.S.-flagged vessel in more than three decades. At a press conference outside the hearing site in Jacksonville, Florida, Rochelle Hamm said U.S. lawmakers should establish third-party oversight...

  • SAO PAULO, Feb 17- Maersk Line, the world's largest container ship operator, said on Wednesday it was consolidating operations in Brazil, Paraguay, Argentina and Uruguay to cut costs amid falling freight rates. "We will maintain capacity and offer a more consistent frequency," Antonio Dominguez, the new director of operations for the east coast of South America,...

  • Feb 16- The captain of the U.S. cargo ship that sank off the Bahamas in a hurricane last fall, killing all 33 people on board, was responsible for decisions that put the vessel in the path of the storm, a shipping company executive testified on Tuesday. Captain Michael Davidson, a veteran mariner from Maine, was at the helm of the 790- foot El Faro for its doomed cargo run...

  • The 790- foot El Faro went down off the Bahamas on Oct. 1 while on a cargo run between Florida and Puerto Rico. The Coast Guard's Marine Board of Investigation will first trace the history of the ship by examining its inspection reports, crew qualifications and past operations. A second hearing session, which has not been scheduled, will focus on the ship's final...

  • *Other sectors monitoring case for guidance on pricing methods. BRUSSELS, Feb 10- Leading shipping container groups Maersk, MSC and 13 other companies have offered to change their pricing practices to settle an EU antitrust probe and stave off possible fines, two people familiar with the matter said on Wednesday. The European Commission opened an...

  • UNITED NATIONS, Feb 9- A U.N.-blacklisted North Korean shipping company continues to evade sanctions through its use of foreign-flagged ships, name changes and other means of obfuscation, according to a new report by United Nations monitors. The U.N. Security Council's Panel of Experts on North Korea, which monitors implementation of sanctions on Pyongyang,...

  • Feb 9- The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued its nosedive on Tuesday to touch another record low as slowing activity, especially from China, took its toll. "China's slowdown has had a dramatically negative impact on dry bulk, leading freight rates, asset values and forward expectations to...

  • Feb 8- The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low on Monday on muted vessel demand. Chinese markets are closed from Feb. 8 to Feb. 12 for the Lunar New Year holiday. Average daily earnings for capesize vessels, which typically transport 150,000- tonne cargoes such as...

  • Feb 5- The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low for the ninth straight session on Friday as concerns of slow global demand outweighed gains for the large-vessel segment. Average daily earnings for capesize vessels, which typically transport 150,000- tonne...

  • ATHENS/ SHANGHAI, Feb 5- China's COSCO is expected to make an offer for Greece's rail network after becoming the sole bidder for the country's largest port, two people familiar with the matter said, as the state owned shipping giant forges ahead with a plan to build a European transhipment hub. Bolstered by December's merger with China Shipping Group, COSCO's...

  • Feb 4- The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, slipped below 300 points on Thursday, to an all-time low. And that creates very tough conditions for shipping, "said Frode Morkedal, Managing director at ship brokerage firm Clarksons Platou Securities. Average daily earnings for capesize vessels,...

  • Feb 3- The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, tumbled to another fresh low on Wednesday on worries about vessel oversupply and slowing global demand. Average daily earnings for capesize vessels, which typically transport 150,000- tonne cargoes such as iron ore and coal, decreased by $47 to...

  • Feb 2- The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, slipped to another all-time low on Tuesday on worries about vessel oversupply and slowing global demand. Average daily earnings for capesize vessels, which typically transport 150,000- tonne cargoes such as iron ore and coal, increased by $16 to...

  • NEW YORK, Jan 29- Operations at New York and New Jersey's cargo terminals were being restored on Friday night after more than a thousand longshoremen walked off the job earlier in the day, shuttering one of the United State's busiest port networks, officials said. The work stoppage came as a surprise because "there were no major issues that we knew of to precipitate...

  • Jan 29- The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, continued its fall to close at a fresh record low on Friday. Average daily earnings for capesize vessels, which typically transport 150,000- tonne cargoes such as iron ore and coal, decreased by $66 to $2,785. Average daily earnings for panamaxes,...