Transportation Marine

  • BEIJING/ SINGAPORE, June 1- China seized a tanker and detained several people last month, including one employee of Swiss trading house Gunvor, as part of a probe into suspected tax evasion on imported oil, Chinese and trading industry officials said. "Gunvor itself has not been formally notified of any investigation involving the company," a Geneva- based...

  • HOUSTON/ LONDON, May 31- Four tankers carrying over 2 million barrels of U.S. crude are stuck at sea and cannot discharge at a Caribbean terminal because Venezuela's PDVSA has not yet paid supplier BP Plc, according to two sources and Thomson Reuters vessel tracking data. The cargoes are part of a tender Petroleos de Venezuela, known as PDVSA, awarded in March to BP...

  • SINGAPORE, May 31- Not everyone in shipping is bemoaning the industry's worst crisis in living memory: a cluster of companies that help preserve equipment and provide security for vessels parked around southeast Asia are busier than they have been for years. A popular lay-up anchorage near Indonesia's Batam island, a short hop from Singapore, is growing...

  • *Al Qaeda fighters in war-riven province tax smuggled fuel. DUBAI/ LONDON/ CAIRO, May 26- Al Qaeda may have been pushed out of the enclave it carved out in Yemen as the country descended into civil war, but the militants are still entrenched in other parts of the country's south, reaping profits from smuggled fuel. Home to Yemen's largest industrial project, a now-shut...

  • *Potential deal valued at about $100 million- source. SINGAPORE/ LONDON, May 25- The Singapore Exchange is in exclusive talks to buy London's Baltic Exchange, which has been at the heart of the global shipping industry for centuries, the two companies said on Wednesday. A purchase by SGX, which has a market value of $5.9 billion, would boost new Chief Executive Loh Boon...

  • LONDON, May 25- Shipping companies transporting coal, and iron ore and other commodities are urgently seeking ways to conserve cash and withstand the worst market downturn on record as too many ships chase shrinking business. The market mood deteriorates by the day, despite the recent improvement of the Baltic Index, "said Basil Karatzas, head of consultancy and...

  • *Camp lies on Greece's main rail route to rest of Europe. IDOMENI, Greece, May 25- Greece has sent in police and bulldozers to clear out Europe's biggest refugee camp because of the deteriorating humanitarian conditions there, but the operation should also unblock a vital artery for the ailing economy. Greece lies at the epicentre of two of the biggest challenges...

  • *Potential deal valued at about $100 million- source. SINGAPORE/ LONDON, May 25- The Singapore Exchange is in exclusive talks to buy London's Baltic Exchange, which has been at the heart of the global shipping industry for centuries, the two companies said on Wednesday. "SGX has indicated that in the event its bid is successful, it would maintain the current model for...

  • France has been hit by a wave of strikes over the past week aimed at forcing President Francois Hollande's socialist government to withdraw proposed new labour market rules. France is western Europe's third-biggest oil refiner, behind Germany and Italy, according to the JODI-World Oil Database, with a total refining capacity of nearly 1.5 million barrels a...

  • Fishing boats set off from Shipu port for fishing on September 16, 2015 in Ningbo, China. Thousands of fishing boats set sail for fishing after three and a half months fishing ban in the East China Sea.

    Fishermen are paying the price as Asia's superpowers vie for control of the resource-rich waters and islands of the East China Sea.

  • MILAN/ LONDON, May 13- Asian liquefied natural gas prices firmed this week as supply growth from new and existing producers continued to frustrate expectations. Traders said that liquidity was thin in Asia this week with prices for June delivery at $4.65 per million British thermal units, compared with $4.55 per mmBtu last week. Korea Gas Corp was also due to have...

  • *To fend against M2, newly forming Ocean Alliance. Dubbed "the Alliance" and due to start operating in April 2017 for a five-year period initially, Hapag-Lloyd will join with Japan's Nippon Yusen Kaisha, Kawasaki Kisen Kaisha and Mitsui OSK Line, South Korea's Hanjin Shipping and Taiwan's Yang Ming Marine Transport. Friday's announcement follows closely that of...

  • US Coast Guard responding to Shell oil spill

    Officers says more than 88-thousand gallons of crude oil have leaked off the Louisiana coast.

  • The alliance-- dubbed THE Alliance-- will join Hamburg- based Hapag-Lloyd with Japan's Nippon Yusen Kaisha, Kawasaki Kisen Kaisha and Mitsui OSK Line, South Korea's Hanjin Shipping and Taiwan's Yang Ming Marine Transport. The new group includes most of the companies left out of two previously-announced alliances: M2, started in early 2015 by Maersk and privately...

  • The alliance-- dubbed THE Alliance-- will join Hamburg- based Hapag-Lloyd with Japan's Nippon Yusen Kaisha, Kawasaki Kisen Kaisha and Mitsui OSK Line, South Korea's Hanjin Shipping and Taiwan's Yang Ming Marine Transport. The new group includes most of the companies left out of two previously-announced alliances: M2, started in early 2015 by Maersk and privately...

  • *To start in April 2017 for initially 5 years. FRANKFURT, May 13- Germany's Hapag-Lloyd has teamed up with five Asian container shipping firms to form a new international alliance, the latest such arrangement in the troubled industry. The Alliance, as it will be called, will bring together Hamburg- based Hapag-Lloyd, Japan's trio Nippon Yusen Kaisha, Kawasaki Kisen...

  • FRANKFURT, May 13- German container shipping firm Hapag Lloyd on Friday announced a new international shipping alliance which is due to start up in April 2017 for initially five years, spanning 18 percent of global container fleet capacity. The group, called THE Alliance includes big Asian and European companies in the latest push for economies of scale in the...

  • UNITED NATIONS, May 12- The United Nations Security Council on Thursday removed from a U.N. blacklist an Indian-flagged tanker that was recently prevented from shipping oil for the rival eastern Libyan government after Libya's U.N. mission requested the de-listing. Libyan Ambassador Ibrahim Dabbashi told Reuters his mission had submitted an official...

  • 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...