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  • LONDON, Oct 9- The London Metal Exchange has made an informal approach to the Baltic Exchange, the hub of the global shipping market, to acquire the entire business, two sources familiar with the matter told Reuters. The LME- previously owned by its members- was itself bought by Hong Kong Exchanges and Clearing in 2012 for $2.2 billion. In the Baltic's last annual...

  • NEW YORK/ MIAMI, Oct 8- The ill-fated U.S.-flagged El Faro cargo ship sunk by Hurricane Joaquin was sailing at near full speed into the center of the storm before it lost propulsion amid mountainous waves and brutal winds, according to ship tracking data. After reviewing the data, Klaus Luhta, a former ship's officer and chief of staff at the International...

  • Nigeria's oil exports under threat from theft crackdown Tuesday, 29 Sep 2015 | 10:27 AM ET

    *Owners need to guarantee vessels not used for theft. LONDON, Sept 29- Nigeria's latest effort to combat theft could imperil its oil income lifeline, compounding the damage the crude price fall has done to its finances, access to dollars and imports. "Nobody is coming forward for offering the vessel and whoever is willing to go to Nigeria is asking exorbitant rates,"...

  • *Daiichi Chuo liabilities total $1.5 bln. TOKYO/ SINGAPORE, Sept 29- Japanese bulk carrier Daiichi Chuo Kisen Kaisha said on Tuesday it had filed for protection from creditors- the second shipper to do so this month- with analysts predicting more failures if the market for dry freight continues to slump. Daiichi Chuo said it had been unable to make ends meet on ships...

  • LONDON, Sept 22- Container shipping lines are poised to take delivery of a new generation of "megaships" over the next two years, just as the growth of world trade is slowing down, contributing to massive overcapacity in the market. Megaships, which can be up to 400 meters long, seem to be here to stay, not least because so many more are already on order, the product of high...

  • LONDON, Sept 21- In October last year, bulk carrier CS Caprice was shipping a cargo of barley across the Mediterranean when it answered a call to help about 500 people who were drifting north of Libya without a skipper. "They had no food or water and they had been three days at sea," said the ship's captain, Joshua Bhatt. They were asking,' can you take us to Italy? "

  • HELSINKI, Sept 15- On a sunny day on the Helsinki seafront, sparks fly from steel welding at the bustling Arctech shipyard, which seems insulated from Finland's economic recession as it strives to meet an order book that stretches into 2017.. That should be good for business, but there is a cloud on the horizon: the yard is now owned by Russia's state-owned United...

  • Weak demand across vessels drags Baltic index down Thursday, 10 Sep 2015 | 10:16 AM ET

    Rates in the Pacific were under pressure mainly due to a lack of cargoes from Brazil, ship broker Fearnleys said in a weekly note on Wednesday. Average daily earnings for capesize vessels, which typically transport 150,000- tonne cargoes such as iron ore and coal, were down $510 to $8,662. Average daily earnings for panamaxes, which usually carry 60,000 to...

  • Petrobras fuel tank explodes in Brazil, killing two Wednesday, 26 Aug 2015 | 4:42 PM ET

    RIO DE JANEIRO, Aug 26- A heating unit at a Petrobras depot in Brazil used to treat fuel for ocean-going ships exploded on Wednesday, killing two workers, the state-run oil company said in a statement. The blast and resulting fire broke out about 10 a.m. while workers were doing planned maintenance on the heating unit, said the press office of BR Distribuidora SA, the...

  • LONDON/ MILAN, Aug 26- Trafigura is blazing a trail for trade houses, adopting highly successful tactics used in oil markets, to get an edge in the burgeoning liquefied natural gas sector. Trade houses including Vitol, Noble Group and Guvnor are also attracted to LNG through rising global supply, growing competition and increasingly scattered pockets of demand...

  • FACTBOX-China's top two oil traders Thursday, 20 Aug 2015 | 5:00 PM ET

    BEIJING, Aug 21- An intensifying rivalry between China's two top oil traders Chinaoil and Unipec is whipsawing Asia's oil market, pitting the state-owned firms against each other in a battle for control of the region's crude benchmark. *Trading desk: Unipec has 400 staff with trade hubs in Beijing, Hong Kong, Singapore, London and New York. Hong Kong and London...

  • *Tianjin port already suffered from delays before explosions. SINGAPORE/ SHANGHAI, Aug 17- Many operations have resumed at China's Tianjin port, trade sources said, after explosions last week that killed more than 100 people and disrupted business at what is an important oil, gas and bulk import harbor for Asia's biggest economy. The Tianjin Maritime Safety...

  • US labor secretary jumps into West Coast port fray Saturday, 14 Feb 2015 | 4:48 PM ET
    Ships gather off the ports of Los Angeles and Long Beach, California in this aerial photo taken February 6, 2015.

    Labor Secretary Tom Perez will travel to California to help broker a deal between shipping companies and dockworkers in the West Coast port fight.

  • A once-sunk industry floats again Saturday, 5 Jul 2014 | 7:00 AM ET

    The recession took the boating industry from 400,000 new yearly registrations to less than 200,000. Now it is floating again.

  • Lloyd's of London: Marine still strong in Asia Wednesday, 6 Nov 2013 | 7:12 PM ET
    Lloyd's of London: Marine still strong in Asia

    John Nelson, Chairman of Lloyd's of London describes that while it has diversified from marine insurance, it still remains significant in Asia.

  • Marine Wire Story Sunday, 1 Dec 2002 | 12:00 AM ET