Business Transportation

  • HOUSTON, Oct 28- Unpaid debts and broken promises are making Venezuelan oil giant PDVSA an outcast in several Caribbean countries where it had been a guest of honor. Business partners in the island nations of Curacao, Bonaire, Jamaica and the Bahamas are turning away from the firm as debts pile up to tugboat operators, ship brokers, maritime agencies and terminal...

  • VANCOUVER, Oct 27- A container vessel that spent months sitting off Canada's west coast due to the collapse of South Korea shipping company Hanjin docked in Vancouver on Thursday, according to union officials and ship tracking data. The vessel, with nearly 800 containers on board, had been sitting some 45 km outside Prince Rupert for several months, said Peter...

  • SAN FRANCISCO, Oct 27- Flying commuters like George Jetson could be whizzing to work through the sky less than 10 years from now, according to ride-services provider Uber, which believes the future of transportation is literally looking up. Uber Technologies Inc released a white paper on Thursday envisioning a future in which commuters hop onto a small...

  • Oct 27- Shares of Chinese package delivery company ZTO Express fell 15 percent from the company's IPO price in its U.S. market debut on Thursday, despite having raised more than expected at $1.4 billion the night before. ZTO's IPO, which had been expected to raise $1.33 billion, raised $1.4 billion on Wednesday night, after underwriters priced the IPO at $19.50 a...

  • VANCOUVER, Oct 27- A container vessel that spent months sitting off Canada's west coast due to the collapse of a major South Korea shipping company is set to dock in Vancouver on Thursday, port and union officials said. The Hanjin Scarlet, with nearly 800 containers on board, has been sitting some 45 km outside of Prince Rupert for several months, said Peter Lahay, an...

  • CHICAGO, Oct 27- United Parcel Service Inc on Thursday said it expects another record-breaking holiday delivery season this year, but warned that a pension charge could hit fourth-quarter results. UPS predicted volumes of more than 700 million packages between Thanksgiving and New Year's Eve, up from a record 612 million in 2015, with daily volumes topping 30...

  • *Move seen adding $35- 40 bln of costs in container shipping. LONDON, Oct 27- The United Nations' shipping agency set global regulations on Thursday to limit the amount of sulphur emissions from vessels and said they would come into force from 2020.. A session of the International Maritime Organization's Marine Environment Protection Committee in London set the...

  • *Move seen adding $35- 40 bln of costs in container shipping. LONDON, Oct 27- The United Nations' shipping agency set global regulations on Thursday to limit the amount of sulfur emissions from vessels and said they would come into force from 2020.. A session of the International Maritime Organization's Marine Environment Protection Committee in London set the...

  • Uber's Jeff Holden presented today, a future where Uber riders can hail a Jetsons-like aircraft from their phones, Recode reports.

  • COPENHAGEN, Oct 27- The Panama Canal is likely to attract up to 15 percent more tonnage next year after an upgrade which means it can now accommodate gas tankers previously too large to transit, its operator said on Thursday. The expanded canal opened in June, fitted with new locks that allow ships three times bigger than previously to pass through.

  • NEW YORK, Oct 27- United Parcel Service Inc said on Thursday it ordered 14 Boeing 747-8 cargo jets, a deal worth $5.3 billion at list prices that potentially breathes new life into an aircraft Boeing had warned it might cancel. The UPS order, which includes options for 14 more of the hump-backed planes, suggests the freight company expects an upturn in air cargo...

  • CHICAGO, Oct 27- United Parcel Service Inc on Thursday reported a higher quarterly net profit that met analyst expectations and reiterated its full-year 2016 earnings outlook, but warned its fourth-quarter results could be affected by a year-end mark-to-market pension accounting adjustment. UPS said it expects record peak volumes of more than 700 million...

  • *Qatar Airways CEO says ordered Boeings to fill Airbus gap. AMSTERDAM, Oct 27- Qatar Airways said it still doubts it will get all 12 A350 planes it is supposed to receive this year, despite reassurances from Airbus after supply chain problems hit deliveries of the widebody jet. Qatar Airways has received four of the A350 jets this year.

  • CHICAGO, Oct 27- Package delivery company United Parcel Service Inc on Thursday reported a higher quarterly net profit that met expectations and reiterated its full-year 2016 earnings outlook, but warned that its fourth-quarter results could be affected by a year-end mark-to-market pension accounting adjustment. Some 1,200 mechanics and other workers...

  • COPENHAGEN Oct 27- Container shipping firm Islamic Republic of Iran Shipping Lines expects to have regained by the middle of next year the business lost while Iran was subject to international sanctions, its chairman said on Thursday. International sanctions were lifted in January following an agreement with world powers on Tehran's disputed nuclear...

  • CHICAGO, Oct 27- Package delivery company United Parcel Service Inc on Thursday reported a higher quarterly net profit that met expectations and reiterated its full-year 2016 earnings outlook, but warned that its fourth-quarter results could be affected by a year-end mark-to-market pension accounting adjustment. The Atlanta- based company reported...

  • Elon Musk says it's 'the people versus Uber'

    The Tesla CEO suggests the Tesla Network would allow car owners to take on the ride-hailing companies themselves.

  • SINGAPORE, Oct 27- Global efforts to cut carbon dioxide emissions will be key for the adoption of liquefied natural gas as a marine fuel, German shipowner and ship-management firm Bernhard Schulte said. Shipping emits around 1 billion tonnes of carbon dioxide, accounting for about 2.5 percent of global greenhouse gas emissions, but this can be cut by about 75...

  • NAIROBI, Oct 27- Kenya Airways said its pretax losses narrowed sharply in the first half of the financial year, but it failed to impress investors who focused on falling revenues. Kenya Airways, 27 percent- owned by Air France KLM, has been reducing the size of its fleet, selling non-core assets including land and cutting jobs to try and turn itself around after being...

  • NAIROBI, Oct 27- Kenya Airways' said its pretax loss narrowed sharply in the six months through September as it made an operating profit, raising hopes that the struggling carrier may be beginning to turn a corner. Chief Executive Officer Mbuvi Ngunze said on Thursday that the carrier, which is also partly state owned, made an operating profit of 0.9 billion...

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