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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.


Shipping Traffic Resumes in Bosphorus Strait

Turkeys Bosphorus Strait (CREDIT: AdobeStock 106467797)

Traffic in Turkey's Bosphorus Strait, an important international shipping lane for oil and grain, resumed on Thursday after a brief suspension triggered by a bulk carrier suffering an engine malfunction, shipping agent GAC said. GAC said the Marshall Islands-flagged, 225-metre vessel, identified as M/V Anna Smile Forward, had engine malfunction, forcing the transit traffic in the strait to be closed at 12.25 am (0925 GMT).


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.


Bomb Threat Cut Lithuania LNG Terminal Output

Gas supply from Lithuania's liquefied natural gas (LNG) import terminal was interrupted on Wednesday due to a bomb threat that later turned out to be a hoax, the terminal's operator Klaipedos Nafta said on Wednesday. The terminal is now preparing to restart, a spokeswoman said. The floating terminal, leased from Norway's Hoegh LNG , was opened last year and received the first commercial LNG cargo from Norway in late December.


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


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.


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


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


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.


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.


Maria Seen Strengthening into Major Hurricane

A second powerful storm in as many weeks was bearing down on a string of battered Caribbean islands, with forecasters saying Maria would strengthen rapidly into a major hurricane as it ripped into the Leeward Islands on Monday night.  


Irma to Weaken by Tuesday Afternoon: NHC

Hurricane Irma was losing strength as its center moved toward the northwestern coast of the Florida Peninsula on Monday and was forecast to weaken to a tropical storm during the day and to a tropical depression by Tuesday afternoon, the U.S. National Hurricane Center (NHC) said.  


Borr Drilling Aims to Expand Fleet, Keep Costs Low

Borr Drilling, the Norwegian drilling start-up, which listed on the Oslo exchange on Wednesday, said it aimed to expand its fleet, taking advantage of its low cost base. The start-up, launched last year and backed by the world's biggest oil service firm Schlumberger


Tanker Firm Frontline Sees Weak Quarters Ahead

Oslo-listed tanker firm Frontline, controlled by shipping tycoon John Fredriksen, reported a deeper than expected second-quarter loss on Wednesday and said markets were likely to remain weak for the next few quarters due to overcapacity.  


Crude Slips, Gasoline Jumps in Storm's Choppy Wake

File Image (CREDIT: AdobeStock / (c) Sharrif CheLah)

Goldman Sachs says 23 pct of U.S. refining capacity is shut.   Crude oil slid and gasoline futures hit their highest since mid-2015 on Wednesday as flooding and damage from Tropical Storm Harvey shut over a fifth of U.S. refineries, curbing demand for crude while raising the risk of fuel


European Gasoline Margins at 4-1/2 Month High

File Image (CREDIT: AdobeStock / (c) Sharrif CheLah)

Benchmark European gasoline refining margins spiked nearly 9 percent on Tuesday to their highest since April after more than 2 million barrels per day (bpd) of U.S. refining capacity was knocked offline by Hurricane Harvey.   Margins, a measure of the profit that can be made from refining


Typhoon Batters Hong Kong, China

Destructive winds, waves batter Hong Kong, south China.   Typhoon Hato, a maximum category 10 storm, slammed into Hong Kong on Wednesday lashing the Asian financial hub with wind and rain that uprooted trees and forced most businesses to close


Fog Lifts as Maersk CEO Remains Upbeat

File Image: The Madrid Maersk, one of Maersks largest boxships. CREDIT: Maersk

Container shipping fundamentals at best since 2010 - CEO.   Denmark's A.P. Moller Maersk gave an upbeat outlook for container shipping on Wednesday, lifting its shares by more than 4.5 percent as investors looked beyond one-off second-quarter charges.  


Transocean to Buy Songa Offshore

(File photo: Songa Offshore)

About 77 pct of Songa shareholders have so far accepted deal.   Transocean, one of the world's biggest drilling rig operators, has agreed a deal to buy Norwegian competitor Songa Offshore for 9.1 billion Norwegian crowns ($1.1 bln), the two companies said on Tuesday.  


Cochin Shipyard Shares Jump After $225 mln IPO

Shares in India's Cochin Shipyard Ltd rose more than 20 percent on their trading debut on Friday after the state-run company's 14.42 billion rupees ($224.7 million) initial public offering.   The stock was trading at 528.15 rupees by 0432 GMT, 22


Shipping Suspended in Turkey's Bosphorus

File Image (CREDIT: AdobeStock / (c) Artur)

Traffic in the Bosphorus Strait, an important international shipping lane for oil and grain, was suspended on Thursday morning, data from Turkey's coastal safety agency showed.   The suspension started at 8:45 a.m. (0545 GMT), the agency said, without giving a reason


SBM Offshore Raises Outlook Buoyed by Deepwater Spending

File photo: SBM Offshore

SBM Offshore, a Dutch provider of floating oil and gas production vessels, raised its core earnings guidance on Wednesday citing clients slowly spending more on deepsea projects.   "Deepwater is becoming attractive again. It's on a par from an economic standpoint with shale oil


Oil Prices Dip as OPEC Oil Exports Rise

© Björn Wylezich / Adobe Stock

Oil prices edged lower on Friday and were on track for weekly losses, weighed down by rising OPEC exports and strong output from the United States.   Brent crude futures, the international benchmark, were trading at $51.76 a barrel at 1141 GMT


TGS Shares Fall after Q2 Sales Disappoint

Shares of the world's leading provider of geoscience data to oil companies TGS fell by more than 6 percent on Thursday, after disappointing sales in the second quarter.   TGS reported $108 million in quarterly revenues, 6 percent below consensus


Cochin Shipyard's $231 Mln IPO Subscribed Over 76 Times

Cochin Shipyard Ltd's initial public offering, which aims to raise up to 14.68 billion rupees ($231 million), was subscribed more than 76 times on the last day of the sale on Thursday, indicating strong interest in the state-run shipbuilder.






 
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