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Transportation Marine

  • GULF-BASED BIDDERS EMERGE FOR UACC, THE PART-OWNED SUBSIDIARY OF UNITED ARAB SHIPPING COMPANY- SOURCES.

  • LONDON/ DUBAI, May 23- Gulf-based bidders have emerged for the part-owned subsidiary of United Arab Shipping Company whose sale is key to finalizing the merger between UASC and German container shipping line Hapag Lloyd, sources close to the matter said. Last week, sources told Reuters that Hapag Lloyd was close to completing the 7- 8 billion-euro merger after...

  • LONDON/ FRANKFURT, May 18- German shipping line Hapag Lloyd is close to completing a merger with United Arab Shipping Company after UASC's shareholders agreed terms to repay outstanding debts, sources familiar with the talks told Reuters. It would give Hapag Lloyd access to bigger ships on the major Asia to Europe trade route. Sources also told Reuters in March...

  • *Russia hopes to raise 30 bln roubles from sale. MOSCOW, May 18- Russia plans to sell part of state shipping firm Sovcomflot next month, hoping to draw in a wide range of small-stake investors rather than a strategic buyer who could threaten Moscow's control of the group, banking and industry sources say. Sovcomflot is led by Sergei Frank, once transport minister...

  • May 12- The United States and China have agreed to take action to expand bilateral trade in beef and chicken as well as taking other steps as part of Washington's drive to narrow the U.S. trade deficit with China. China will allow U.S. imports of beef no later than July 16, and the United States will issue a proposed rule to allow Chinese cooked poultry to enter U.S....

  • LONDON, May 9- Yemen's worsening conflict is contributing to a spike in piracy in the region, with Somali pirates taking advantage of a reduced international naval presence and more readily available weaponry to carry out attacks. "The regional instability caused by Yemen is important," Colonel Richard Cantrill, chief of staff with the European Union's counter...

  • HAVANA, May 3- Russia has begun shipping large quantities of oil to Cuba for the first time this century, sources said, as supplies to the island from crisis-wracked Venezuela have dwindled. A Russian oil tanker with 249,000 barrels of refined products is due to arrive in Cuba on May 10, according to Reuters shipping sources and others, bringing back memories of...

  • Some academics who study North Korea argue Kim could be looking for Russia to ease any pain if China, which accounts for about 90 percent of North Korea's trade, steps up sanctions against the isolated country as part of moves to deter its nuclear and missile programmes. There is no sign of any sustainable increase in trade between Russia and North Korea, but...

  • Some academics who study North Korea argue Kim could be looking for Russia to ease any pain if China, which accounts for about 90 percent of North Korea's trade, steps up sanctions against the isolated country as part of moves to deter its nuclear and missile programmes. There is no sign of any sustainable increase in trade between Russia and North Korea, but...

  • *Bulk of attacks occurred off Nigeria. OBP, a project of the privately funded One Earth Future Foundation that encourages cooperation across the international maritime community to tackle piracy, recorded 95 attacks in West Africa's Gulf of Guinea in 2016, up from 54 the previous year. Only one successful hijacking- the product tanker Maximus, which was...

  • COPENHAGEN, April 28- The world's biggest container shipping company Maersk Line will pay 3.7 billion euros for its acquisition of smaller German rival Hamburg Sud, it said on Friday. "By keeping Hamburg Sud as a separate and well-run company, we will limit the transaction and integration risks and costs while still extracting the operational synergies," said...

  • NEW YORK, April 26- The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May. Swiss-based Mercuria Energy Trading S.A. loaded more than 600,000 barrels of...

  • NEW YORK, April 26- The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May. Swiss-based Mercuria Energy Trading S.A. loaded more than 600,000 barrels of...

  • NEW YORK, April 26- The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May. Swiss-based Mercuria Energy Trading S.A. loaded more than 600,000 barrels of...

  • Now, at least two East Coast refiners, Phillips 66 and Delta Air Lines Inc's subsidiary Monroe Energy, are looking to move more crude by ship from Texas into the Philadelphia area. This option is more expensive than oil imported to the East Coast, typically from Nigeria. Analysts and traders expected that once the Dakota line came into service, East Coast and West...

  • LONDON/ TAIPEI, April 21- Taiwan's troubled Yang Ming Marine Transport Corp is halting its container service to Iran, becoming the first foreign shipping line to abandon the route a year after international sanctions on Tehran were lifted, according to a company source. Yang Ming, the world's ninth largest container shipping line, is a comparatively small...

  • SHANGHAI, April 21- The world's busiest container port, Yangshan in China's business hub of Shanghai, is battling severe congestion wrought by dense fog, higher-than-usual volumes and the aftermath of a shake-up in shipping alliances, ocean carriers and port officials say. "We are making efforts to adjust and coordinate the entire port's resources and making...

  • EUSTATIUS/ HOUSTON, April 18- Venezuela's state-run oil company, PDVSA, sent a tanker in October to the Caribbean with the expectation that its cargo of crude would fetch about $20 million- money the crisis-stricken nation desperately needs. Despite a longstanding alliance between Venezuela and Russia, Sovcomflot sued PDVSA in St. Maarten, a Dutch island on the...

  • EUSTATIUS/ HOUSTON, April 18- Venezuela's state-run oil company, PDVSA, sent a tanker in October to the Caribbean with the expectation that its cargo of crude would fetch about $20 million- money the crisis-stricken nation desperately needs. Despite a longstanding alliance between Venezuela and Russia, Sovcomflot sued PDVSA in St. Maarten, a Dutch island on the...

  • HOUSTON/ PUNTO FIJO, Venezuela, April 18- In the scorching heat of the Caribbean Sea, workers in scuba suits scrub crude oil by hand from the hull of the Caspian Galaxy, a tanker so filthy it can't set sail in international waters. The vessel is among many that are constantly contaminated at two major export terminals where they load crude from Venezuela's state-run...