Transportation Marine

  • TOKYO/ SINGAPORE, Oct 7- Nippon Yusen, Japan's biggest shipper by sales, warned it would book a $1.9 billion hit to first-half income, after the industry's deepening slump forced it to write down the value of container ships and other assets. Chronic oversupply in the industry has already claimed one high profile victim this year: South Korea's Hanjin Shipping Co...

  • TOKYO, Oct 7- Japanese shipping line Nippon Yusen warned it would book an extraordinary loss of about $1.9 billion in the second quarter, forced by a deep slump in the shipping market to write down the value of container ships and other assets. The huge writedown is the latest sign of a slowdown in the container shipping sector due to low freight rates and...

  • MORAINE, Ohio, Oct 6- Chinese auto supplier Fuyao Glass Industry Group will complete a total of $1 billion in U.S. manufacturing investments by the end 2017, including about $500 million it has put into an automotive glass plant in Ohio, the company's chairman told Reuters. Ahead of the ceremonial opening of the Moraine, Ohio plant on Friday, Fuyao Chairman Cho Tak...

  • NEW YORK/ HOUSTON, Oct 6- Robust Asian demand for West African crude is fueling a worldwide surge in shipping rates for the largest oil tankers that is being felt from Houston to Singapore. Increased demand from Asia for this crude has tied up ships and barrels that might have otherwise moved to the United States. The higher prices are leaving brokers and traders...

  • NEW YORK/ HOUSTON, Oct 6- Robust Asian demand for West African crude is fueling a worldwide surge in shipping rates for the largest oil tankers that is being felt from Houston to Singapore. Increased demand from Asia for this crude has tied up ships and barrels that might have otherwise moved to the United States. The higher prices are leaving brokers and traders...

  • *EU, China already pushing for stricter regulation, sooner. SINGAPORE, Oct 4- The global shipping industry is bracing for a key regulatory decision that could mark a milestone in reducing maritime pollution, but which could nearly double fuel costs in a sector already reeling from its worst downturn in decades. To combat such pollution, the International...

  • *EU, China already pushing for stricter regulation, sooner. SINGAPORE, Oct 4- The global shipping industry is bracing for a key regulatory decision that could mark a milestone in reducing maritime pollution, but which could nearly double fuel costs in a sector already reeling from its worst downturn in decades. To combat such pollution, the International...

  • Rodrigo Duterte won't work with US anymore

    Philippine President Rodrigo Duterte says he will end joint US and Philippine military drills after the last one in early October.

  • JOHANNESBURG/ LONDON, Sept 28- Six of the world's biggest container shipping companies were raided by South African authorities on Wednesday on suspicion of colluding to inflate rates between Asia and South Africa, the country's Competition Commission said. The six companies raided comprise local subsidiaries of Denmark's Maersk, Swiss-headquartered...

  • JOHANNESBURG, Sept 28- Six of the world's biggest container shipping companies were raided by South African authorities on Wednesday on suspicion of colluding to inflate rates between Asia and South Africa, the country's Competition Commission said. The six companies comprise local subsidiaries of Denmark's Maersk, Swiss-headquartered Mediterranean...

  • JOHANNESBURG, Sept 28- Six of the world's biggest container shipping companies were raided by South African authorities on Wednesday on suspicion of colluding to inflate rates between Asia and South Africa, the country's Competition Commission said. The six companies raided comprise local subsidiaries of Denmark's Maersk, Swiss-headquartered...

  • JOHANNESBURG, Sept 28- Six of the world's biggest container shipping companies were raided by South African authorities on Wednesday on suspicion of colluding to inflate rates between Asia and South Africa, the country's Competition Commission said. The six companies raided comprise local subsidiaries of Denmark's Maersk, Portugal's Mediterranean...

  • JOHANNESBURG, Sept 28- Six of the world's biggest container shipping companies were raided by South African authorities on Wednesday on suspicion of colluding to inflate rates between Asia and South Africa, the country's Competition Commission said. The six companies comprise local subsidiaries of Denmark's Maersk, Portugal's Mediterranean Shipping...

  • LOS ANGELES, Sept 27- Shipping companies and a powerful dockworkers union have agreed to discuss a possible extension to a contract reached last year, ending labor strife that disrupted U.S. West Coast ports and bogged down cargo trade with Asia for months. The International Longshore and Warehouse Union and the Pacific Maritime Association, which represents...

  • LOS ANGELES, Sept 27- Major cargo shippers and the union representing dockworkers at 29 U.S. West Coast ports have agreed to talks on a possible extension of their current contract, which is set to expire in mid-2019, the two sides said in a joint statement on Tuesday. Negotiators for the Pacific Maritime Association and the International Longshore and Warehouse...

  • Negotiators for the Pacific Maritime Association and the International Longshore and Warehouse Union plan to meet on Nov. 1-2 to discuss the proposal, which comes about 19 months after a contract settlement that capped months of labor strife and disruptions of cargo traffic at the ports.

  • *Greek ship owners leaving London over expected non-dom changes. LONDON, Sept 27- The crisis in global shipping and a tax exodus by big Greek vessel owners have helped finally seal the fate of London's Baltic Exchange after at least three approaches to buy it over the last six years of its near-three centuries history. "For Baltic shareholders it does release...

  • Marlins pitcher Jose Fernandez dies in boat crash

    The 24-year-old ace pitcher for the Miami Marlins was killed in a boating accident early Sunday morning.

  • SHANGHAI, Sept 26- For Captain Dick S. Danielsen, the childhood dream has been to sail the world's biggest ships. If they don't, then I think they're lying, "he told Reuters from his ship during a 24 hour-long stop in Shanghai's port last Saturday. While hailed as engineering feats, these mega-ships are now being blamed for contributing to the overcapacity glut...

  • WILMINGTON, Del, Sept 23- Failed South Korean container carrier Hanjin Shipping Co Ltd told a U.S. judge on Friday that cargo owners were withholding up to $80 million in payments for completed shipments, complicating the company's ability to move stranded freight. "Hanjin is not the only bad guy here," Ilana Volkov, an attorney for the shipping company, said at a...