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Transportation Marine

  • PARIS, Nov 18- CMA CGM, the world's third-largest container shipping company, posted on Friday another net loss in the third quarter as freight rates remained weak and it integrated Singapore- based NOL, its biggest-ever acquisition. The French-based company's net loss including NOL was $268 million, compared with a $51 million net profit in the third quarter of...

  • NEW YORK, Nov 16- Shares of U.S. shipping companies shot higher again on Wednesday, tripping various volatility halts and raising questions over the reasons behind their sharp rally following Republican Donald Trump's victory in last week's presidential election. Its stock, which was halted before the open on Wednesday and has not resumed trading yet, is up...

  • NEW YORK, Nov 16- Shares of U.S. shipping companies shot higher again on Wednesday, causing volatility halts in a number of stocks and raising questions among investors and analysts over the extent of their sharp post-election rally. At the center of the rally has been DryShips Inc, an $82.9 million market-capitalization company that has been halted for...

  • Nov 15- German container shipping line Hapag-Lloyd is set to secure EU antitrust approval for its merger with United Arab Shipping Company after the latter agreed to pull out from some vessel sharing agreements, two people familiar with the matter said on Tuesday. The combined company, valued at about 7 to 8 billion euros, would be the world's fifth largest...

  • BRUSSELS, Nov 15- EU antitrust regulators are set to clear German container shipping line Hapag-Lloyd's merger with United Arab Shipping Company after the latter agreed to withdraw from some vessel sharing agreements, two people familiar with the matter said on Tuesday. The combined company, valued at about 7 to 8 billion euros, would be the world's fifth...

  • LONDON, Nov 15- Global efforts to cut greenhouse gas emissions will continue even after the election of climate change skeptic Donald Trump to the U.S. presidency and momentum is growing to cut ship pollution, the United Nations' shipping agency chief told Reuters. Kitack Lim, Secretary-General of the International Maritime Organization, said in an interview...

  • *Global shipping debt estimated at $400 billion. LONDON, Nov 9- Bank of Ireland said it is still winding down its shipping business, among a number of banks looking to cut non-core lending and exposure to an industry suffering its worst downturn. "As previously stated, Bank of Ireland no longer lends within the shipping finance sector and we have been winding down...

  • *Global shipping debt estimated at $400 billion. LONDON, Nov 8- Bank of Ireland said it is winding down its shipping business, joining other banks looking to cut non-core lending and exposure to an industry suffering its worst downturn. "As previously stated, Bank of Ireland no longer lends within the shipping finance sector and we have been winding down the...

  • LONDON, Nov 8- Singapore Exchange has completed its takeover of the privately-owned Baltic Exchange, sealing an 87 million pound deal for one of London's oldest institutions, the groups said on Tuesday. The deal received UK regulatory approval last month after Baltic shareholders unanimously approved the takeover on Sept. 26. The Baltic's new chief executive,...

  • LONDON, Nov 7- A switch to cleaner fuels in the world's ships in 2020 could double the profits of the world's most advanced oil refineries- but threatens to put older ones out of business and punish those countries, including prominent OPEC members, that produce the wrong kind of crude. It is effectively a windfall for advanced refineries, which produce larger...

  • South Korean marines and navy soldiers on a boat conduct a crackdown against China's illegal fishing in neutral waters on June 10, 2016.

    China says it's "very dissatisfied" with South Korea after the coast guard fired warning shots at Chinese fishermen in South Korean waters.

  • LONDON, Nov 1- European oil traders rushed on Tuesday to book vessels to carry gasoline to consumers on the U.S. East Coast left stranded without their main domestic supply source, more than quadrupling shipping costs, traders and ship brokers told Reuters. But by noon on Tuesday, some 14 ships had been provisionally booked to sail from Europe to the region, raising...

  • LONDON, Nov 1- European oil traders rushed on Tuesday to book vessels to carry gasoline to consumers on the U.S. East Coast left stranded without their main domestic supply source, more than quadrupling shipping costs, traders and ship brokers told Reuters. But by noon on Tuesday, some 14 ships had been provisionally booked to sail from Europe to the region, raising...

  • TOKYO, Oct 31- Japan's top three shippers said they will integrate their container shipping operations to create the world's sixth-largest fleet, joining a growing trend of consolidation in an industry battling its worst-ever downturn. Overcapacity and anaemic economic growth globally have left hundreds of ships idle in the industry's worst slump since...

  • TOKYO, Oct 31- Japan's Nikkei fell on Monday as heightened uncertainty over the U.S. presidential election kept investors on edge, but shares of major shipping firms jumped after news that they will merge their container shipping businesses. Federal Reserve policy review on Wednesday and U.S. jobs data on Friday, ahead of the Nov. 8 presidential election which...

  • TOKYO, Oct 31- Japan's top three shippers on Monday said they will integrate their container shipping operations to create the world's sixth-largest player, joining a growing trend of consolidation in an industry battling its worst-ever downturn. Overcapacity and anemic economic growth globally have left hundreds of ships idle in the industry's worst...

  • TOKYO, Oct 31- Japan's top three shippers on Monday said they will integrate their container shipping operations to create the world's sixth-largest player, joining a growing trend of consolidation in an industry battling its worst-ever downturn. Overcapacity and anemic economic growth globally have left hundreds of ships idle in the industry's worst...

  • *Japan's 3 major shippers jump about 10 pct on M&A news. TOKYO, Oct 31- Japanese stocks fell on Monday as heightened uncertainty over the U.S. presidential election kept investors on edge, while Japan's three major shippers jumped after news that they will merge their container shipping businesses. U.S. shares fell and the dollar dropped on Friday on news that the...

  • TOKYO, Oct 31- Japanese shippers Nippon Yusen KK, Mitsui OSK Lines Ltd and Kawasaki Kisen Kaisha Ltd said on Monday they will merge container shipping operations as overcapacity and weak economic growth shake up the global industry. Overcapacity and anemic economic growth globally has left hundreds of ships idle in the industry's worst downturn since its...

  • LONDON/ FRANKFURT, Oct 28- Deutsche Bank is among more than 20 bidders in talks to potentially buy a 3.2 billion euro loan portfolio from state-owned rival HSH Nordbank as Germany's biggest lender tries to do deals despite its troubles, sources told Reuters. Four finance industry sources with knowledge of the situation said on Friday Deutsche Bank was looking...