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Turkey To Close Bosphorus Strait For 12 Hours

The Turkish government will close the Bosphorus strait to sea traffic for ships over 3,000 tons for 12 hours from 1600 GMT on December 31 to minimize possible effects from the millennium bug problem in computers. Ships over 3,000 tons will not be allowed to pass through the strait from 1600 GMT on December 31, 1999 to 0400 GMT on January 1, 2000 for traffic safety. Ships longer than 200 m will not be allowed to sail through the 19-mile-long strait unless they provide millennium compliance certificates and ensure that their cargo is not dangerous.


LPG Ships Collide in France

Two LPG tankers collided in the northwestern French port of Donges causing 60 tonnes of ship fuel to spill into the Sea. French coastguard said the Liquefied Petroleum Gas (LPG) carriers the Happy Bride and the Sigmagas hit each other at 1920 GMT. There were no reported injuries and both vessels had been towed back to port. However, 60 tonnes of bunker fuel oil had been spilt in the collision.


SembCorp Profits Boosted By Marine

Singapore's SembCorp Industries Ltd is expected to post up to a 60 percent rise in half-year net profit on Wednesday, boosted by its logistics, utility and marine businesses. Out of five analysts polled by Reuters, three forecast an interim net profit of between S$90 million ($51.2 million) and S$107 million, including exceptional gains, compared with S$67.27 million in the same period last year. The stock was at S$1


Correction: Mississippi River Closed in Iowa after Barge Hits Bridge

(Corrects ownership of bridge to Canadian Pacific not Union Pacific, paragraph 4) The U.S. Coast Guard on Tuesday closed the Mississippi River at Sabula, Iowa, after a barge struck a railroad bridge, said Eric Washburn, bridge administrator for the agency's Eighth District Western Rivers Bridge Branch. The river was closed 1 mile (1.6 km) north and 1 mile south of the site of the accident as of about 3 p.m. CDT (2000 GMT), Washburn said. The barge was stuck in an open position


Inchcape Shipping Celebrates 25th Anniversary of ISS Greece

A reception hosted by Group CEO Claus Hyldager was the finale of the ISS annual senior management conference in Athens.

  Inchcape Shipping Services (ISS), the world’s leading maritime services provider, has this month celebrated the 25th anniversary of its operations in Greece by hosting its annual senior management conference in Athens, close to the company’s Greek head office in the Port of Piraeus. Over 170 ISS employees, including the entire senior management team, congregated to enjoy three days of strategic development activity, events, networking and customer engagement.


Bosphorus Strait Traffic Suspended as Boat Sinks, At Least 24 Dead

Rescuers pulled 24 bodies from the sea at the mouth of Istanbul's Bosphorus strait on Monday and rescued seven people after the sinking of a boat carrying migrants including children, the Turkish Coastguard Command said. Tens of thousands of migrants from Africa, the Middle East and beyond pack into often unsafe boats each year and thousands of them drown in their efforts to enter the European Union through coastal states


NOL Shares Surge, 1999 Results Seen Strong

Shipping and logistics group Neptune Orient Lines (NOL), which lost more than half its market capitalization since the start of the year, saw a staggering 26 million shares traded on Tuesday. By 0900 GMT, NOL ended at S$1.24 ($.72), up 19 cents, amounting to a market capitalization of about S$1.4 billion ($814.5 million). Fueling the shares of the national shipper were persistent buy calls by major research houses, even after NOL's share price collapsed to S$1 ($.58) by mid-March from S$2


Fog Halts Houston Ship Channel Traffic

Reuters reported that ships were halted from moving along the 53-mile (85.3 kilometer) Houston Ship Channel to the busiest U.S. petrochemical port on Thursday due to dense fog, said the U.S. Coast Guard. Ship pilots in Texas City, Texas, near the Gulf of Mexico entrance to the channel, and Houston stopped guiding vessels shortly after 1 a.m. CST (0700 GMT) after limited visibility made navigating the waterway unsafe, the Coast Guard said.


3 Die As Ship Carrying Marble Sinks Off Italy

A cargo ship carrying 150 tons of marble sank off the Italian coast on Friday killing three people and leaving another missing, Reuters reported. The Nautika 64 capsized about 64 km (40 miles) from the Adriatic port of Ancona when its cargo shifted. Port authorities said they received a "May Day" call for help at 7:45 a.m. (0645 GMT) and sent boats and a helicopter to the ship, which was sailing under the Croatian flag.


American Steamship Charters ATB

American Steamship Compnay charter New Articulated Tug Barge American Steamship Company (“ASC”), a subsidiary of GATX Corporation (NYSE:GMT), announced its charter of a newly constructed Articulated Tug Barge (“ATB”). David W. Foster, president of ASC, said, “We are very pleased to add this new ATB, designed to transport dry-bulk commodities, to our fleet and look forward to commencing its operation on the Great Lakes during the upcoming sailing season


Songa Beats Street, But Sees Market Weakness Ahead

File Image: courtesy Statoil

Norwegian rig company Songa Offshore reported a forecast-beating core profit for the third quarter although it said weak demand for drilling rigs would remain subdued into 2015 before picking up from late 2016. The company's shares rose 5


Boskalis Takes a Stake in Fugro

European stocks inched higher on Monday as acquisition hopes fuelled gains for oil services firms after Dutch group Boskalis took a stake in Fugro. Fugro jumped 44 percent after sector peer Boskalis bought about 15 percent of its shares, which have lost more than half of their value since June


D/S Norden Reports Q3 Loss, Keeps 2014 Guidance

Photo: NORDEN

Danish shipping company D/S Norden reported a smaller-than-expected third-quarter operating loss on Wednesday and maintained its full-year earnings guidance. D/S Norden said its loss before interest and tax was $27.6 million in July-September, against a forecast for a loss of $33


Ship Arrested, More Claims Emerge Against OW Bunker

Photo: OW Bunker

Fuel barge Laguna, carrying oil sold by Hin Leong to OW Bunker, arrested. Total claims against OW Bunker Far East and Dynamic Oil now over S$5 mln. Oil firms stepped up legal action against the Singapore units of bankrupt ship fuel trader OW Bunker with the arrest of a ship fuel delivery barge


Oil Steadies Above $92 on Signs of Global Growth

Stabilisation follows a week of sharp falls Strong Asian and European stocks provide support Concerns of ample supply remain Brent crude oil edged down but stayed above $92 a barrel on Monday after a week of sharp falls, as strong U.S


Crude Oil Markets Roiled by Sell Off

A sell-off that began last week continued to roil crude markets, which have been weighed down by worries of oversupply and lackluster demand, pushing Brent crude to a contract low on Monday. U.S. crude traded below $90 a barrel, despite a brief mid-morning rally


Lundin Petroleum Hits More Oil, Shares Surge

Norwegian Arctic discovery could be game changer; Lundin Petroleum shares rise 7 percent. Noreco, Det Norske shares also rise on news. Swedish oil firm Lundin Petroleum has made a big oil and gas discovery in the Norwegian Arctic, sending its shares more than 7 percent higher and raising hopes


Statoil Finds More Gas Offshore Tanzania

Statoils Tanzania Operations (image courtesy Statoil)

Norway's Statoil has found more gas offshore Tanzania, increasing its total for an eventual investment decision on a liquefaction plant with Britain's BG Group, which operates neighboring exploration blocks, it said on Tuesday. Statoil found another 1


Saudi Oil Pipeline Set Alight

  A "limited fire" broke out on a subsidiary oil pipeline in eastern Saudi Arabia on Saturday after assailants fired shots at a security patrol, the state news agency SPA said. An industry source told Reuters there was no impact on oil operations in the world's top crude


Oversupply, Ebola Fears Drive Oil Below $86

ebola2.jpg

 * Middle East supply remains strong * Equities fall on confirmed case of Ebola in New York * Economists see gloomy 2015 for China, euro zone - Reuters poll * Commerzbank cuts price forecast on bearish OPEC signals (Updates prices, adds Middle East supply)    


Maritime Piracy: Attacks Down, SE Asia Remains Problematic

The Piracy & Armed Robbery Map  (Source: https://icc-ccs.org)

While the issue of maritime piracy has largely fallen from the public eye, with the rapid evolution of the 24/7/365 news cycle and a never-ending list of new and globally interesting headlines, such as Ebola, there remains concerns of piracy’s effects on the broader maritime market


St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.m. ET/2200 GMT. A strike would close the key shipping route. Five locals of Unifor, Canada's largest private sector union


St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.m. ET/2200 GMT. A strike would close the key shipping route. Five locals of Unifor, Canada's largest private sector union


Saudis Cuts U.S. Price, Oil Sags to $82

Saudi Arabia cuts oil prices for U.S. customers; Brent and WTI touch respective 4-year and 3-year lows. Brent crude oil fell more than 3 percent to its lowest in over four years near $82 a barrel on Tuesday, after top oil exporter Saudi Arabia cut sales prices to the United States.


Brazil's Vale Opens Malaysia Port in Bid to Cut Freight Costs

Brazil's Vale SA on Friday inaugurated a $1.4 billion port in Malaysia able to receive and blend iron ore from its mega-ships, an important step in the miner's battle to cut transportation costs to the crucial Chinese market. Brazil's distance from China - which accounts for nearly 70 percent






 
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