Maersk Prepares to Resume Shipping Through Red Sea
Denmark's Maersk is preparing to resume shipping operations in the Red Sea and the Gulf of Aden, the company said on Sunday, citing the deployment of a U.S.-led military operation designed to ensure the safety of commerce in the area.The shipping giant paused sending vessels through the Bab el-Mandeb strait earlier in December due to attacks against its ships. That rendered the Suez Canal, which is key to global commerce, unusable for most routes.The United States said on Tuesday it was launching a multinational operation to protect commerce in the Red Sea from Iran-backed Yemeni militants…
Brazilian Prosecutors Sue Maersk Over Alleged Corruption
Federal prosecutors in Brazil filed a civil lawsuit against Danish shipping company Maersk and former executives representing the firm for alleged corruption involving shipping contracts with state-run oil firm Petrobras, they said on Friday.The lawsuit requests that a judge freeze almost 1 billion reais ($198 million) in assets in order to make sure funds are available to pay for damages resulting from the alleged scheme.Prosecutors said there was evidence of bribe payments to…
Petrobras Eyes Restart at FPSOs Hit by Coronavirus
Brazilian state-run oil firm Petrobras plans to restart operations in the coming days at two ships used in offshore oil production that suffered coronavirus outbreaks, an executive told journalists during a call on Friday.Petrobras Exploration and Production Director Carlos Alberto de Oliveira said operations at the Cidade de Santos should restart over the weekend, and operations at the Capixaba should restart within 10 days. Both are large ships known as FPSOs.Brazil's offshore oil industry has been hit hard by the novel coronavirus.
Chilean Wood Products Export to Shrink in 2016
Chilean forestry exports will total $5.3 billion by value in 2016, 3 percent less than last year, as supply has increased and the economies of key export markets remain sluggish, an industry body said on Tuesday. The Chilean Wood Corporation (Corma) said in a statement that exports in 2017 would remain steady or rise slightly to the $5.3 billion to $5.4 billion range. "The 3 percent fall in the total amount is due principally to declines in international prices for the principal forest products, while there has been an increase in exported volumes," Corma President Fernando Raga said in a statement. Corma predicted prices for long fiber products would begin to rise in the second half of 2017.
