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Transportation Marine

  • Radar screen

    The shipping industry is increasingly at risk from cybersecurity attacks and a gap in insurance policies is leaving them vulnerable.

  • *Russia is fortifying Arctic, pouring in money and missiles. But nearly three decades after the Lenin was taken out of service to be turned into a visitor attraction, Russia is again on the march in the Arctic and building new nuclear icebreakers. Interviews with officials and military analysts and reviews of government documents show Russia's build-up is the...

  • Keppel closing 3 yards in Singapore

    Conrad Werner, ‎Macquarie Group, weighs in on the performance of the Singapore offshore and marine company.

  • *BHP allocates iron ore cargo to shipper under new online system. SINGAPORE, Jan 26- BHP Billiton has launched an online system under which shippers compete to offer the best price to haul cargoes of commodities such as iron ore and copper to the mining giant's customers. BHP asked 13 ship owners and operators to submit offers through its online platform to...

  • HOUSTON/ PUNTO FIJO, Venezuela, Jan 26- More than 4 million barrels of Venezuelan crude and fuels are sitting in tankers anchored in the Caribbean sea, unable to reach their final destination because state-run PDVSA cannot pay for hull cleaning, inspections, and other port services, according to internal documents and Reuters data. Dirty tankers are the latest of...

  • SEOUL, Jan 25- South Korea said on Wednesday it will continue with corporate restructuring efforts in 2017, with plans focusing on shipping and shipbuilding companies struggling with shrinking global demand. South Korea launched efforts last year to save its shipping and shipbuilding industries, traditional engines of growth, including injecting...

  • LONDON, Jan 23- Japanese financial services firm Orix Corp said it was looking to buy more shipping loans in Europe after confirming on Monday that it would purchase $289 million worth of such debt from Royal Bank of Scotland in a landmark deal. Orix said it had agreed to acquire the loans from RBS, confirming a Reuters story on Friday, in what is likely to be the first...

  • LONDON/ TOKYO, Jan 20- Royal Bank of Scotland has concluded agreements to sell at least $600 million worth of shipping loans from its portfolio as part of efforts to exit the sector, sources with direct knowledge of the deal told Reuters on Friday. The sources said Japanese financial services firm Orix Corp has agreed to buy $290 million worth of shipping loans...

  • LNG to Asia at huge profits. SINGAPORE, Jan 20- U.S. liquefied natural gas exporters are sending tankers to Asia to fill a gap in the region's demand as markets have tightened more-than-expected on surging consumption in China and Pakistan, and because of Australia's struggles to ramp up production. Benefiting from the Panama Canal expansion last year that...

  • SINGAPORE, Jan 20- A surge in piracy to the west of the Philippines is forcing shipowners to divert vessels through other waters, stoking their costs and extending the time it takes to transport goods such as Australian iron ore to key Asian destinations. The International Maritime Bureau's piracy reporting centre in Kuala Lumpur has also warned of the rising...

  • LNG to Asia at huge profits. SINGAPORE, Jan 20- U.S. liquefied natural gas exporters sending tankers to Asia to fill a gap in the region's demand as markets have tightened more-than-expected on surging consumption in China and Pakistan as well as Australia's continuing struggles to ramp up scheduled production. Benefiting from the Panama Canal expansion last...

  • **HomeServices of America Inc, a unit of Warren Buffett's Berkshire Hathaway Inc, on Tuesday said it has purchased the Houlihan Lawrence residential real estate firm, its second foray into the New York City area this month. **German carmaker Volkswagen said it would not produce or sell any Audi cars with SAIC Motor Corp until at least 2018, seeking first to...

  • **HomeServices of America Inc, a unit of Warren Buffett's Berkshire Hathaway Inc, on Tuesday said it has purchased the Houlihan Lawrence residential real estate firm, its second foray into the New York City area this month. **German carmaker Volkswagen said it would not produce or sell any Audi cars with SAIC Motor Corp until at least 2018, seeking first to...

  • **HomeServices of America Inc, a unit of Warren Buffett's Berkshire Hathaway Inc, on Tuesday said it has purchased the Houlihan Lawrence residential real estate firm, its second foray into the New York City area this month. **German carmaker Volkswagen said it would not produce or sell any Audi cars with SAIC Motor Corp until at least 2018, seeking first to...

  • *Change could help Iran boost exports further. TOKYO/ SINGAPORE, Jan 17- Global shipping insurers have devised a way to ensure nearly full coverage for Iranian oil exports from next month after striking a deal to provide cover without involving U.S.-domiciled reinsurers, officials in Tokyo and London said. That will provide a boon to Iran, which is trying to raise...

  • *For graphic showing China choke points: http://tmsnrt.rs/2ijdN1G. SINGAPORE, Jan 13- A huge traffic jam of hundreds of ships carrying coal and iron ore into China has built up outside key ports like Tianjin and Caofeidian, just as winter demand hits its peak ahead of the Chinese New Year holiday later this month. This has left hundreds of ships sitting in China's...

  • *Ships exposed through GPS systems, have limited back-up. *Cyber insurance typically doesn't cover jamming, property damage. LONDON, Jan 12- Shipping companies grappling with the threat of cyber attacks on vessels are finding insurance policies often fall short, officials involved in both industries say, a risk that could feed through into global prices.

  • LONDON, Jan 9- A European Union proposal to impose a levy on ships over their greenhouse gas emissions risks undermining the sector's global efforts to tackle the issue, the UN shipping agency's chief said on Monday. The proposals will go to a plenary vote in February and the EU's three law-making bodies- member states, the European Commission and the European...

  • *Almost all fuel shipments to Myanmar come from Singapore. Servicing growth that could top 8 percent this year is a clutch of small tankers ferrying gasoil and diesel from Singapore 2,000 kilometers north to Myanmar. Shipping data in Thomson Reuters Eikon shows that around 20 small tankers with a combined capacity of around 220,000 deadweight tonnes are...

  • SHANGHAI, Jan 4- Maersk, the world's largest container shipping line, has teamed up with Alibaba to allow customers to reserve space on its vessels through the Chinese company, illustrating growing cooperation between e-commerce and logistics firms. Maersk, a unit of Denmark's A.P. Amazon.com has registered a Chinese business as a freight forwarder and has...