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.
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.
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
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
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
(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
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.
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.
The Mexican oil export facility at Pajaritos in eastern Veracruz state reopened to shipping traffic early on Thursday and the nation's three other oil ports were operating normally, said port officials. Pajaritos, part of the Coatzacoalcos complex, reopened at 6 a.m. (1200 GMT) as weather conditions improved, said an official at the captain's office. Winds were around 3 miles per hour (5 km per hour) and waves were between two and three feet, he said.
Gasoline prompt cracks in northwest Europe slipped on Monday but remained at eight-month-highs supported by strong demand from the United States, where inventories are low and refinery maintenance has curbed supply. Stocks on the U.S. East Coast, a major export destination for European gasoline, fell more than expected last week while demand in West Africa and the Mediterranean is strong. Maintenance at Canadian refineries that normally supply the U.S
Ukraine has given pro-Russian separatists a Monday morning deadline to disarm or face a "full-scale anti-terrorist operation" by its armed forces, raising the risk of a military confrontation with Moscow.
ThyssenKrupp is in talks to sell its Swedish marine defence unit to Saab after failing to reach a deal with Sweden for a new generation of submarines as the country tries to protect its defence manufacturing sector. The companies said on Monday that negotiations over the sale of ThyssenKrupp's
South Korean divers retrieved three bodies from inside a sunken ferry overnight, officials said on Sunday, the first time they have been able to gain entry to the passenger section of the ship. What was a search-and-rescue mission has now turned into an attempt to retrieve more than 200
A fire on board a South Korean trawler fishing off the coast of Sierra Leone forced the crew to abandon ship, fleeing onto boats that came to their rescue, its captain told Reuters on Monday. The fire on the 70-foot (21-metre) Osito 89 broke out in the engine room at 0400 GMT on Sunday about
By Se Young Lee, Reuters Seoul shares fell in early domestic trade Wednesday, touching a near-three week low as persisting worries about China's economic growth outlook cut appetites for riskier assets. The Korea Composite Stock Price Index (KOSPI) was down 1.2 percent at 1,939
Gasoline barge prices in northwest Europe rose on Friday, boosted by brisk cargo exports as demand builds ahead of the peak summer driving season. "Things are perking up," said one trader. "Big slugs of reformate are heading to Asia again
Crude oil prices on both sides of the Atlantic rose on Friday as data showed strong jobs growth in the United States and investors cast doubt on reports Libya's oil ports were about to reopen. The March U.S. non-farm payrolls report showed 192
Hariga, Zueitina ports expected to open first Deal calls for more talks on larger terminals (Adds context, background, oil prices) Libya's Zueitina oil port prepared on Monday to load crude on tankers after the government reached a deal with rebels to reopen four
* Hariga, Zueitina ports expected to open first * Deal calls for more talks on larger terminals (Adds quotes, colour, background, PVS TRIPOLI) ZUEITINA PORT, Libya/TRIPOLI, April 7 - Libya's Zueitina oil port prepared on Monday to load crude into tankers after the government
Global oil prices surged on Tuesday as a weaker U.S. dollar boosted buying, while expectations for bullish inventory reports in the U.S. and fresh unrest in eastern Ukraine lent support. As the U.S. dollar plunged to session lows against the Japanese yen and the euro, U.S
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 agency's Eighth District Western Rivers Bridge Branch. The river was closed to north and southbound traffic as of about 3 p.m
Mississippi River barge traffic could reopen Friday at the earliest, government officials said on Wednesday, a day after a barge struck a railroad bridge at Sabula, Iowa, forcing the closure of a two-mile (3.2 km) stretch of the country's busiest waterway.
China exports fall for 2nd straight month in March, while U.S. crude stocks rise, at a record on the Gulf coast (EIA). Libya's oil guards take control of Hariga port, Zueitina pending and OPEC sees lower demand for its crude in 2014. Separately, Brent to fall to $107.17.
Russian Urals crude weakened on Thursday in a flurry of deals as traders rushed to place end-of-April cargos. Eni sold a cargo of Urals to Total in the Baltic at dated Brent minus $1.50 for April 20-24 delivery, some 20 cents weaker than previous price estimates
Brent futures eased towards $107 a barrel on Friday as the global supply outlook improved with more Libyan supplies expected to reach the market, although growing tension between the West and Russia over Ukraine put a floor under prices.