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Transportation Marine

  • LONDON, Nov 17- Asian spot liquefied natural gas rose this week as state-run Korea Gas Corp purchased around 10 shipments for winter and outages curbed supply. Korea Gas Corp, or Kogas, purchased at least 10 cargoes in the past week for January delivery at prices in the high $9 per mmBtu level with Vitol, Engie, Petronas and Royal Dutch Shell closing sales deals, a...

  • LONDON, Nov 16- A consortium behind a liquefied natural gas import project in Pakistan, including oil giant Exxon Mobil, France's Total and Qatar Petroleum, has been dissolved, shipping company Hoegh LNG said on Thursday. Hoegh LNG was due to supply the project's ship-based import terminal, a floating storage and regasification unit, where LNG brought in by...

  • MONACO _ Scorpio Tankers Inc. on Thursday reported a loss of $36.9 million in its third quarter. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share. Four analysts surveyed by Zacks expected $133.2 million.

  • LONDON, Nov 16- Highly anticipated rules slashing the amount of sulfur that ships worldwide can legally burn in their engines will come in force in 2020 with no delays or exceptions, the International Maritime Organization said on Thursday. The group last year finalized rules requiring ships worldwide to cut their sulfur emissions to 0.5 percent by 2020, from...

  • LONDON, Nov 16- Highly anticipated rules slashing the amount of sulphur that ships worldwide can legally burn in their engines will come in force in 2020 with no delays or exceptions, the International Maritime Organization said on Thursday. The group last year finalised rules requiring ships worldwide to cut their sulphur emissions to 0.5 percent by 2020,...

  • BERLIN— A German shipping company says pirates have released the six crewmembers who were taken hostage from a vessel off the coast of Nigeria. Cor Radings, a spokesman for Peter Doehle Schiffahrts-KG, said Sunday the "seafarers are in good condition and have returned to their families" after more than two weeks in captivity. The Liberia- flagged container ship MV...

  • LONDON, Nov 10- Asian spot liquefied natural gas prices rose this week on already tight supply and production outages in Australia and was further buoyed by climbing crude oil prices. Spot prices for December delivery rose to $9.45 per million British thermal units, 30 cents above last week's levels. Australia's North West Shelf export facility suffered a...

  • Nov 9- Cuts in OPEC output that have led to a surge in U.S. oil exports to Asia may prove a godsend for struggling global shippers, driving rates for large crude shipments to China, India and other major oil importers sharply higher over the next year. But OPEC's strong compliance with output cuts agreed in 2016 is boosting prospects for the business by raising...

  • HAMILTON, Bermuda _ Teekay Tankers Ltd. on Thursday reported a loss of $22.4 million in its third quarter. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share. Three analysts surveyed by Zacks expected $75.9 million.

  • NEW YORK— Commerce Secretary Wilbur Ross plans to completely divest from a shipping company that counts a Russian gas producer with ties to the Kremlin among its major customers. A commerce department spokesman says Ross plans to sell all his shares of Navigator Holdings. That company ships products from Sibur, a Russian gas producer whose owners include two...

  • BEIJING, Nov 8- China's commerce ministry said on Wednesday it has granted conditional approval for Maersk Line's planned acquisition of Hamburg Sud. Maersk Line, the world's biggest container shipping company, will pay 3.7 billion euros to buy German rival Hamburg Sud. The company will withdraw some ships from certain routes such as the Far East-western...

  • Commerce Secretary Wilbur Ross has divested his interests in oil tanker company Diamond S Shipping and is in the process of selling off his holdings in another shipping firm, Navigator Holdings, a Trump administration official said on Tuesday. Information about the business ties between Navigator, which operates gas-carrying ships, and Sibur was based on...

  • NEW YORK— In a Nov. 6 story about the U.S. commerce secretary's links to a Russian company, The Associated Press reported erroneously that Russian oligarch Leonid Mikhelson had been sanctioned by the U.S. Report: Newly leaked documents show that Commerce Secretary Wilbur Ross has a stake in a shipping company that does business with a gas producer partly owned by...

  • *Cyber attack cost up to $300 million. Maersk, which agreed to sell its oil and gas business to Total in a $7.5 billion deal this year, has to prove to investors that the firm's strategy to focus on transport and logistics is the right one even with oil prices rising again. Expectations for the container shipping business had been high after Chief Executive Soren...

  • COPENHAGEN, Denmark— The world's biggest shipping company, Denmark's A.P. Moller-Maersk, has fallen to a quarterly loss due partly to the cost of a cyberattack. The Copenhagen- based group reported Tuesday a $1.5 billion loss for the third quarter, from a profit of $429 million a year earlier. Revenue increased to $8 billion from $7 billion.

  • Commerce Secretary Wilbur Ross said on Monday he probably would not keep his holdings in a shipping company with business ties to Russian President Vladimir Putin's inner circle and that he had fully and properly disclosed investments. Sibur's owners include Putin's son-in-law, Kirill Shamalov, and Gennady Timchenko, a Putin associate who is subject to U.S.

  • LONDON, Nov 6- Singapore's Maritime and Port Authority said on Monday it had revoked Transocean Oil's bunker fuel supply licence in the Port of Singapore, effective immediately. MPA said it had conducted checks on Transocean in March and April as part its efforts to ensure the integrity of bunkering operations at the port and found "falsifications of records...

  • LONDON, Nov 6- Singapore's Maritime and Port Authority said on Monday it had revoked Transocean Oil's bunker fuel supply license in the Port of Singapore, effective immediately. MPA said it had conducted checks on Transocean in March and April as part its efforts to ensure the integrity of bunkering operations at the port and found "falsifications of records...

  • LONDON, Nov 6- Singapore's Maritime and Port Authority said on Monday it had revoked Transocean Oil's bunker fuel supply licence in the Port of Singapore, effective immediately.

  • LONDON, Nov 6- Singapore's Maritime and Port Authority said on Monday it had revoked Transocean Oil's bunker fuel supply license in the Port of Singapore, effective immediately.