×

Transportation Marine

  • 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...

  • SHANGHAI, Jan 4- The world's largest container shipping line Maersk has teamed up with Alibaba to allow shippers of goods to reserve space on its vessels through the Chinese e-commerce giant, in a move that bypasses traditional middleman freight forwarders. Maersk, a unit of Denmark's A.P. And e-commerce companies are increasingly venturing into logistics...

  • LONDON, Dec 21- Royal Bank of Scotland is close to selling at least $600 million worth of shipping loans from its portfolio, two sources familiar with the matter told Reuters. The sources said buyers of the various shipping loan tranches included Japanese financial services firm Orix Corp, Germany's Berenberg Bank, Bank of America Merrill Lynch and asset...

  • LONDON, Dec 21- Royal Bank of Scotland is close to selling at least $600 million worth of shipping loans from its portfolio, two sources familiar with the matter told Reuters. The sources said buyers of the various shipping loan tranches included Japanese financial services firm Orix Corp, Germany's Berenberg Bank, Bank of America Merrill Lynch and asset...

  • LONDON/ FRANKFURT, Dec 20- A merger of German container shipping line Hapag-Lloyd and United Arab Shipping Company is likely to take months to complete, partly due to financing issues blamed on a deep industry downturn, sources familiar with the deal say. Hapag-Lloyd signed a binding agreement with UASC in July to form the world's fifth-largest line, valued at...

  • LONDON, Dec 19- Even if the diesel engine's scandal-driven fall from grace pushes it out of the world's passenger cars, an increasing need for it on ships, in trucks and heavy industry could save the refineries that invested heavily in producing the fuel. "I'm not concerned for refineries," said Steve Sawyer, head of refining with consultants FGE.

  • LONDON, Dec 14- The global shipping industry will hit a credit crunch if proposed new bank capital rules are implemented in a sector already weighed down by toxic debt, bankers involved say. The Basel Committee of banking supervisors from nearly 30 countries met in Chile last month in an effort to complete the new rules for lenders in the world's major financial...

  • COPENHAGEN, Dec 13- The acquisition of German shipping company Hamburg Süd will replace some 60 percent of revenue lost when A.P. The energy division, which includes exploration and production, tankers and drilling, made up a quarter of Maersk's revenue last year, around $9.8 billion. "We intend to replace that lost turnover quickly through organic and...

  • COPENHAGEN/ SEOUL, Dec 9- Doubts about the future of Hyundai Merchant Marine Co Ltd surfaced on Friday after Denmark's Maersk Line said the South Korean shipping firm was no longer being considered for the 2 M vessel-sharing alliance. Joining an alliance with major shipping firms was one of the conditions of a debt restructuring deal between heavily indebted...