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Transportation Marine

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  • Earnings before interest and tax swung to $30 million in January-March from a loss of $22.6 million in the first quarter of last year, topping the average forecast for a loss of $1 million in a Reuters poll of analysts. The Copenhagen- based still expects a full-year operating result between a loss of $40 million and a profit of $40 million. With 203 owned and...

  • FACTBOX-Airbus A400M military transport plane Saturday, 9 May 2015 | 2:29 PM ET

    May 9- An Airbus A400M Atlas military plane crashed outside Seville on Saturday, killing four people in the first accident for Europe's large new troop and cargo carrier. Here are some details on the transporter, whose development represents Europe's largest single defence contract. Malaysia is the only export customer after South Africa cancelled an order...

  • Talks between six major powers and Tehran are approaching the final stages after they hammered out a preliminary agreement on April 2, with Iran committing to reduce the number of centrifuges it operates and to other long-term nuclear limitations. Iran, which is has been under sanctions for years, has a long history of illicit nuclear procurement using front...

  • Talks between six major powers and Tehran are approaching the final stages after they hammered out a preliminary agreement on April 2, with Iran committing to reduce the number of centrifuges it operates and other long-term nuclear limitations. "The UK government informed the Panel on 20 April 2015 that it' is aware of an active Iranian nuclear procurement...

  • SEOUL, April 29- U.S. crude futures slipped on Wednesday after an industry data showed U.S. crude stocks rose last week although inventories in delivery hub Cushing declined for the first time this year, but the fall in oil prices was limited by tensions in Middle East. *U.S. crude lost 17 cents at $56.89 a barrel as of 0003 GMT after it settled up 7 cents at $57.06 on...

  • *Yemen faces mounting humanitarian crisis. LONDON, April 27- Yemen is facing mounting problems bringing in food by sea as the danger from fighting between Houthis and government supporters is exacerbated by an arms blockade by Saudi-led coalition navies searching ships for weapons destined for the rebels. The Arabian peninsula's poorest country, Yemen...

  • COLUMN-Cheaper fuel to boost container shipping: Kemp Tuesday, 21 Apr 2015 | 9:57 AM ET

    LONDON, April 21- Lower oil prices are sharply reducing the cost of shipping merchandise from Asia to the United States and Europe as the cost of bunker fuel tumbles. In September 2008, shortly after oil prices had peaked, shipping lines were adding a surcharge of almost $1,500 to the cost of shipping every 40- foot container between Asia and the West Coast of the...

  • LONDON, April 20- Ship container line Hapag-Lloyd has placed an order for five vessels as it looks to bolster trade in Latin America ahead of next year's planned expansion of the Panama Canal, the world's fourth biggest player said on Monday. Hamburg- headquartered Hapag-Lloyd, which completed a merger with Chile's Compania Sud Americana de Vapores in December,...

  • LONDON, April 15- At least five merchant vessels carrying food are stuck off Yemen, shipping data showed on Wednesday, as warships from a Saudi-led coalition search them for weapons bound for Iran- allied Houthi rebel forces, with delays adding to a humanitarian crisis. Yemen imports more than 90 percent of its food, including most of its wheat and all its rice, to...

  • LONDON, April 15- At least five merchant vessels carrying food are stuck off Yemen as warships from a Saudi-led coalition search them for weapons bound for Iran- allied Houthi rebel forces, with delays adding to a humanitarian crisis. Yemen imports more than 90 percent of its food, including most of its wheat and all its rice, to feed a population of 25 million.

  • As the Middle East and U.S. Gulf Coast transform into refining hubs, traders require ever-larger tankers to move oil products such as gasoline, diesel and aviation fuel to Europe, Asia and Latin America. Trading powerhouses such as Vitol, Total and Shell have already booked vessels that can carry as much as 1 million barrels- more than three times the typical size...

  • LOS ANGELES, April 1- Cargo congestion at the two busiest U.S. container ports has eased considerably in the six weeks since West Coast dockworkers and shippers reached a tentative labor deal, but port officials said it would take several more weeks for freight traffic to return to normal. The most obvious sign of improved cargo flow through the ports of Los...

  • SINGAPORE, April 1- A backlog of over 30 oil tankers has built up outside the Iraqi port of Basra and shippers face lengthy delays of up to three weeks to load oil because of bad weather and possible oil quality issues, shipping industry sources said. The problems could delay or limit the number of oil export cargoes from Basra in April, potentially pushing down...

  • LONDON, March 31- OPEC oil supply has jumped in March to its highest since October as Iraq's exports rebounded after bad weather and Saudi Arabia pumped at close to record rates, a Reuters survey found, a sign key members are sticking to their effort to regain market share. OPEC supply has risen in March to 30.63 million barrels per day from a revised 30.07 million...

  • *Oil imports from Iran at 220,000 bpd in year to March 31. *U.S. pressured India not to raise annual Iran oil imports. NEW DELHI, March 31- India halted oil imports from Iran for the first time in at least a decade in March as New Delhi responded to U.S. pressure to keep its shipments from Tehran within sanction limits during the last month of negotiations on a preliminary...

  • BRUSSELS, March 31- European, Turkish and Chinese recyclers are set to benefit from strict new EU rules on breaking up old ships, but the practice of dismantling them on beaches in South Asia-- at great human and environmental cost-- will still be hard to stop. Of 1,026 ocean-going ships recycled in 2014, 641 were taken apart on beaches in India, Bangladesh and Pakistan,...

  • FACTBOX-Sanctions on Iran's oil sector Monday, 30 Mar 2015 | 12:32 PM ET

    March 30- World powers are trying to reach a framework deal with Iran that would restrict the most sensitive aspects of Tehran's atomic programme in return for an easing of international sanctions. The major oil-related sanctions have been imposed by the United States and European Union to pile pressure on Iran over its nuclear programme.

  • LONDON, March 30- China has managed to export a large shipment of crude oil from Yemen over the weekend, ship-tracking data showed on Monday, despite mounting chaos in the country after the launch of Saudi-led air strikes last week. Tanker data listed it as being run by Glasford, the shipping-arm of PetroChina. Trading sources estimate Yemen's oil exports before...

  • UPDATE 1-Iran storing 30 million barrels of oil at sea Wednesday, 25 Mar 2015 | 12:28 PM ET

    LONDON/ SINGAPORE, March 25- Iran is storing at least 30 million barrels of oil on its fleet of supertankers as Western sanctions continue to keep a lid on sales, tanker market sources say. World powers are trying to reach a framework deal with Tehran by the end of the month that would restrict the most sensitive aspects of Iran's disputed atomic programme in return...

  • *Genscape cites another big U.S. crude stock in Cushing- trade. NEW YORK, March 12- Global oil prices fell on Thursday on estimates showing another big supply build at the delivery point for the U.S. crude contract, with trade volatile ahead of the expiry of the front-month in benchmark Brent oil. "The ship channel opening allows crude to get to refineries and the...