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Transportation Marine

  • MEXICO CITY, Aug 17- A tanker carrying a cargo of about 1 million barrels of Venezuelan heavy crude has been stranded for more than a month off the coast of Louisiana for lack of a bank letter of credit to discharge, three sources have told Reuters. Major banks are cutting exposure to Venezuela as a result of political upheaval in the South American country.

  • *June cyber attack to cost $200- $300 mln. COPENHAGEN, Aug 16- Denmark's A.P. The firm also said it expected a $200 million to $300 million bill- primarily in the third quarter- from a June 27 cyber attack that disrupted its container shipping operations for weeks.

  • *June cyber attack to cost $200- $300 mln. COPENHAGEN, Aug 16- Denmark's A.P. The firm also said it expected a $200 million to $300 million bill- primarily in the third quarter- from a June 27 cyber attack that disrupted its container shipping operations for weeks.

  • COPENHAGEN, Aug 16- Maersk Line, the world's biggest container shipper, is venturing into trade finance, as it seeks to fill a lending gap left by indebted banks pulling out of the crisis-hit shipping industry. There is definitely an unmet market demand out there, " Vipul Sardana, global director of trade finance at Maersk, said in an interview. The World Trade...

  • *June cyber attack to cost $200- $300 mln. *Shares 4.5 pct higher by 1056 GMT. COPENHAGEN, Aug 16- Denmark's A.P.

  • DUBAI, Aug 16- OPEC member Iraq has formed a joint venture with a shipping company owned by Arab states to transfer, store and trade crude and oil products, according to official documents and industry sources. AISSOT is owned by state firm Iraqi Oil Tankers Co and Arab Maritime Petroleum Transport Co, a pan-Arab company in which Arab oil producers such as Saudi...

  • *June cyber attack to cost $200- $300 mln. *Shares up 1.15 percent at 0904 GMT. COPENHAGEN, Aug 16- Denmark's A.P.

  • COPENHAGEN, Denmark— The June cyberattack that paralyzed the computer systems in companies around the world is estimated to have cost the world's biggest container shipping line between $200 million and $300 million, A.P. Moller-Maersk said Wednesday. The Copenhagen- based group, which was particularly severely affected by the attack, says the impact will...

  • COPENHAGEN, Aug 16- Danish shipping group A.P. Maersk also said it expected a $200 million to $300 million bill from a June cyber attack that disrupted its container shipping operations for weeks. The company's net loss stood at $264 million, compared with expectations for a $507 million net profit, according to an average of forecasts in a Reuters poll.

  • MOSCOW, Aug 15- New U.S. sanctions on Moscow have forced Russian business chiefs to accept that Donald Trump's rise to power is not about to produce a " Trump Bump" in foreign investment. For the business community in Moscow, the message is clear-- there is no immediate prospect of Washington softening its stance towards Moscow. "The mere fact that the U.S. and Western...

  • OSLO, Aug 11- Russian shipping in the Arctic is benefiting from winds that are driving the oldest and thickest sea ice towards North America, further opening a remote region that is thawing amid global warming, scientists say. The thinning Russian ice could help liquefied natural gas tankers, due to start exports from Russia's Yamal Peninsula in late 2017, to...

  • *Crushing margins turn positive, hit 80 yuan a tonne. BEIJING, Aug 11- Chaos that swept China's soybean market in recent weeks as lossmaking crushers flipped cargoes and closed plants appears to have eased by Friday, allaying fears of widespread contract defaults like those that shook the world's top consumer in 2014.. On Thursday, crushers were making more than...

  • NEW DELHI/ SINGAPORE, Aug 8- India's oil imports from Iraq rose 31.5 percent in July from a month ago, shipping data showed, allowing the Middle Eastern country to retain the top supplier spot for the fourth consecutive month amid declines from sellers like the United Arab Emirates, Venezuela and Iran. India took 954,400 barrels per day of Iraqi oil in July compared...

  • BEIJING/ SINGAPORE, Aug 7- Two major Chinese soybean buyers have resold more than 500,000 tonnes of product in recent weeks, sources familiar with the deals said, amid growing concerns about losses among crushers and congestion at a major port in the world's top oilseed buyer. The resales appear to be isolated, but they stir worries about possible contract...

  • BEIJING/ SINGAPORE, Aug 7- Two major Chinese soybean buyers have resold more than 500,000 tonnes of product in recent weeks, sources familiar with the deals said, amid growing concerns about losses among crushers and congestion at a major port in the world's top oilseed buyer. The resales appear to be isolated, but they stir worries about possible contract...

  • *South Korea leading charge, U.S. plans to follow. South Korea is developing an alternative system using an earth-based navigation technology known as eLoran, while the United States is planning to follow suit. Britain and Russia have also explored adopting versions of the technology, which works on radio signals.

  • Cramer Remix: Here’s why we are not in a tech bubble

    Jim Cramer breaks down the differences between today and the dot com collapse of 2000.

  • Jim Cramer on the set of Mad Money.

    Jim Cramer breaks down the differences between today and the dot com collapse of 2000.

  • *CEO: freight forwarding industry undergoing transformation. COPENHAGEN, July 27- Danish freight forwarder DSV will invest more to meet rising demand for services such as e-commerce and address competition from new players including Amazon.com which is seeking a greater role in the logistics supply chain. DSV has specialised in complex transportation...

  • SINGAPORE, Aug 1- Traders in Asia are considering shipping diesel and jet fuel to Europe after a fire at that region's largest oil refinery disrupted supplies and boosted fuel margins, five traders and shipbrokers said on Tuesday. Two shipbrokers said they had seen a rise in enquiries on booking long-range vessels to ship the fuels to Europe after Royal Dutch...