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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.


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


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.


Mexican Oil Facilities Reopen To Shipping Traffic

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.


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


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


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.


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


Europe Gasoline Cracks Strong on US Demand

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


6.8 Magnitude Earthquake in E. Japan Triggers Tsunami Alert

Earthquake hits Japan

  An earthquake of magnitude 6.8 occurred Friday about 165 kilometers east of the city of Iwaki on Honshu, the main island of Japan, prompting the authorities to issue an alert tsunami in the area. The U.S. Geological Survey (USGS for its acronym in English) said the quake occurred at 1922


Typhoon Batters Philippines, Thousand Flee to Manila

Rammasun hits eastern Rapu-Rapu island, heads towards Manila; Strongest storm after last year's Haiyan. Thousands evacuated from coastal villages. Thousands of people in the Philippines fled from their homes on Tuesday as the strongest typhoon to hit the country this year made landfall


South Korea Police: Body May Be Ferry Disaster Fugitive's

South Korean police are trying to confirm the identity of a body they believe may have been the fugitive head of the family that owned the operator of a ferry that capsized in April, killing more than 300 people, a police official told Reuters.


Police Kill 2 Kenyans Suspected of Planning Ferry Attack

Kenyan police said on Friday they shot and killed two armed men suspected of planning an attack on a ferry in the port city of Mombasa after one of them tried to hurl a grenade at approaching police. Mombasa and the coastal region has been struck by a series of attacks that have killed dozens


Norway to Retain Statoil Stake

Prime Minister Erna Solberg (Photo: http://www.regjeringen.no)

Norway's right wing government will retain its current holding in oil and gas firm Statoil , backing off a pre-election proposal to cut the stake to about 50 percent from the current two thirds of the shares.   The government led by the Conservative Prime Minister Erna Solberg has pledged


Crude Falls Below $114 as Iraq Supply Fears Ease

U.S. Secretary of State John Kerrylanded in Baghdad on Monday. (Photo: http://www.state.gov)

Sunni insurgents capture three towns in Iraq's Anbar Iraq's oil exports near record rates in June U.S. Secretary of State John Kerry lands in Baghdad   Brent crude dipped below $114 a barrel on Monday as worries about disruptions to Iraqi crude supplies began to look


Brazilian Ports Pause for World Cup Matches

Marcelo of Brazil is challenged by Hector Herrera of Mexico (Photo courtesy of FIFA)

Football fever is so intense in Brazil, the host of the World Cup soccer tournament, that even the main shipping ports in the commodity-exporting powerhouse are shutting down when the national team plays. In Paranagua, Brazil's No. 2 soy exporting port


Vopak to Divest from 15 Terminals

Photo courtesy of Vopak

Dutch oil and chemicals storage company Vopak said on Wednesday it would divest from 15 primarily smaller terminals and planned to cut capital expenditure by about $136 million (100 million euros). The world's largest independent storage tank operator has suffered from the harsh business


Oil Falls Towards $111 on Libya Ports Deal

Oil fell towards $111 a barrel on Wednesday, its lowest in almost three weeks, on a possible substantial recovery in Libyan exports after rebels said they would reopen two oil terminals. Libyan rebels blockading eastern oil ports have agreed to reopen the remaining two terminals at Es Sider and


Super Typhoon Headed for Japan, Emergency Warnings Issued

Japan's weather agency on Monday issued emergency warnings to urge people in the country's southern islands to take maximum precautions as a super typhoon described as a "once in decades storm" is set to rake the Okinawa island chain with heavy rain and powerful winds.


One Dead as Typhoon Batters Okinawa

One man died, more than 500,000 people were urged to evacuate and hundreds of flights were cancelled in Japan as a strong typhoon brought torrential rain and high winds to its southwestern islands and could bring heavy rain to Tokyo later this week.


Japan Typhoon Weakens, Heads to Main Islands

Typhoon Neoguri: Image USNRL

Torrential rains from a weakened but still dangerous typhoon battered Japan's Okinawa islands on Wednesday, leaving two dead and threatening widespread flooding as the storm headed for the nation's main islands. Typhoon Neoguri, a super typhoon as it bore down on Okinawa this week


Fugro Warns of Disappointing First Half

Dutch marine services company Fugro NV has warned that weakness in the oil and gas industry, combined with technical difficulties, meant its results for the first half would fall short of expectations, hammering its shares. Fugro, involved in the search for Malaysia Airlines' missing flight


Collision Halts Statoil Oseberg Platform Production

Photo: Statoil Oseberg operations

Statoil shut its oil platform at the Oseberg East field offshore Norway after a collision with a supply vessel but production was expected to restart later the same day, a spokesman said. The collision took place at 0140 CET (1140 GMT on Wednesday)


Shipping loan losses hit Norwegian bank DNB's earnings

Q2 net profit NOK 4.65 bln vs f'cast NOK 4.77 bln; loan losses NOK 554 mln vs fcast NOK 398 mln. Bank on schedule to fulfill capital requirements, but shares down 4.6 percent, Swedish bank shares lower. Higher-than-expected loan losses in the shipping sector ate into DNB's second-quarter






 
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