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  • UNITED NATIONS, May 12- Libya's mission to the United Nations has asked the Security Council to remove from a U.N. blacklist an Indian-flagged tanker that was recently prevented from shipping oil for the rival eastern Libyan government, Libya's U.N. envoy said on Thursday. It will be up to the 15- nation council's Libya sanctions committee to make a decision.

  • UNITED NATIONS, May 12- Libya's mission to the United Nations has asked the Security Council to remove from a U.N. blacklist an Indian-flagged tanker that was recently prevented from shipping oil for the rival eastern Libyan government, Libya's U.N. envoy said on Thursday. Two competing governments, one in Tripoli and one in the east, backed by armed factions, have...

  • *Oscar Spieler to replace Gary Smith as CEO. May 10- Golar LNG Ltd said former Chief Executive Oscar Spieler would return to the top job as the natural gas shipping company pushes deeper into the Brazilian power generation market to cope with weakness in freight rates. Spieler, who led the company between July 2009 and June 2011, will replace Gary Smith, who is...

  • May 10- Golar LNG Ltd said Oscar Spieler would replace Gary Smith as chief executive as the natural gas shipping company pushes deeper into the Brazilian power generation market in a bid to diversify operations amid weak freight rates. Weak demand for LNG from key markets such as South Korea and Japan, coupled with growing supply of tankers, has hurt rates for...

  • May 10- Golar LNG Ltd said Oscar Spieler would replace Gary Smith as chief executive, as the natural gas shipping company realigns operations, including building up its presence in the Brazilian power generation market. The company said on Tuesday it was in talks with a private equity firm for investments in Golar Power, its unit that holds an interest in a 1.5...

  • *Middle East, Latin American tanker imports to compensate. SINGAPORE, May 10- Canada's wildfires, which have knocked out some 1.5 million barrels of daily oil production, are expected to drive up tanker imports and freight rates as U.S. consumers seek alternative supplies after a drop in Canadian pipeline supplies. Average rates this year for a Very Large Crude...

  • SEOUL, May 9- South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder by revenue, will slash more jobs and sell non-core assets as part of efforts to cope with shrinking orders, it said on Monday. Companies such as Daewoo Shipbuilding& Marine Engineering and the country's No. 1 shipping company Hanjin Shipping have already had to undergo...

  • *Container business beats expectations with $37 mln profit. With more than 600 vessels, Maersk Line is the global market leader with a market share around 15 percent and has previously played down its ambitions, but the Copenhagen- based company acknowledged on Wednesday that recent acquisitions and vessel-sharing alliances bring new opportunities.

  • Maersk Line made a profit of $37 million in the first three months of 2016, compared with analysts' average forecast for a loss of $121 million in a Reuters poll. Group net profit dropped 86 percent to $224 million in the first quarter, beating analysts' average forecast of $55.6 million as the company's oil division also fared better than expected in weak energy...

  • *7 mln barrels of Forties amass in N Sea this month. LONDON, April 29- Dozens of tankers with unsold crude have been amassing at sea in the past few weeks, vividly reminiscent of 2015 when a recovery in oil prices was scuppered by rising physical supply. Even as the price rallied, U.S. crude inventories hit record highs, and cargoes of unsold oil linger in West Africa and...

  • LONDON, April 28- An Indian-flagged oil tanker is returning to Libya, the North African country's rival oil corporation said on Thursday, after its failed first attempt to export crude oil led to the ship being blacklisted by the United Nations Security Council. The Distya Ameya tanker is heading to the western Libyan port of Zawiya, said Nagi al-Maghrabi,...

  • NEW DELHI, April 28- India has instructed an Indian-flagged oil tanker that has been blacklisted by the U.N. not to discharge its cargo of crude oil from Libya's rival eastern government and to await instructions from the United Nations, a senior Indian government official said on Thursday. The tanker, the Distya Ameya, is carrying 650,000 barrels of crude on...

  • *Tanker could end up in Latin America- traders. LONDON, April 28- Trading house Trafigura is shipping a rare cargo of gasoline from China to the United States, as the recent weakening of the Asian market after months of stock builds opens up new routes. The tanker Dalmacija is currently sailing across the Pacific Ocean after loading a part cargo at the port of...

  • Personal submarine modeled after a drone

    Designer Graham Hawkes says his new creation is part Formula One car, part submarine, and part drone.

  • *Tripoli- based NOC is internationally recognized as sole exporter. BENGHAZI, Libya, April 26- A government based in eastern Libya shipped its first cargo of crude on Monday in defiance of authorities in the capital Tripoli, a bold move that could deepen the divisions that have brought chaos since the fall of Muammar Gaddafi. The eastern government has set up its...

  • China to build up atoll in South China Sea

    The country is planning to add an airstrip to reclaim Scarborough Shoal and extend its reach over contested waters.

  • SINGAPORE, April 25- Falling Iraqi oil exports have eased a huge traffic jam of tankers waiting to load crude at the Iraqi port of Basra, with queuing times falling by about a third this month, shipping data showed. Iraq typically cuts Basra exports whenever there is a backlog of ships waiting to load. Delays to load Basra heavy crude have fallen to an average of 11-12...

  • MILAN, April 22- Pillarstone Italy, owned by U.S private equity firm KKR, will take on the bulk of the debt owed by Italy's Premuda to a group of banks, in a first move that could make Pillarstone one of the main shareholders of the shipping company. Under the deal, Banca Carige, UniCredit and Intesa Sanpaolo will transfer around 250 million euros in loans to...

  • *Indonesian, Malaysia, Philippines ministers to meet. JAKARTA, April 21- Indonesia fears piracy on a shipping route along its sea border with the Philippines could reach Somalian levels and has told vessels to avoid danger areas, officials said on Thursday, after a spate of kidnappings. Concerns over maritime attacks by suspected Islamist militants are...

  • FRANKFURT/ LONDON, April 21- Germany's Hapag-Lloyd is in talks to merge with United Arab Shipping Company, the latest move in the container market to battle a faltering global economy and too many ships. Hapag-Lloyd gave no further details of the discussions and said there was no certainty of a deal, which if it comes off is estimated to create a group with a...