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Denmark's - 2 Krishn Kaushik - 1 Idrees Ali - 1 Phil Stewart NEW - 1 Yemen's - 1 Houthi - 1 Shivam Patel - 1 Simon Lewis - 1
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☆ Indian Navy Rescues Crew After Attack on Ship off Coast of Yemen
  + stars: | 2024-01-18 | by ( Jan. | At A.M. | ) www.usnews.com   time to read: +3 min
The Houthi movement said its missiles had made a "direct hit" on the bulk carrier. U.S. officials said the move was aimed at cutting off funding and weapons the movement has used to attack or hijack ships. On Monday, Houthi forces had struck the U.S.-owned and operated dry bulk ship Gibraltar Eagle with an anti-ship ballistic missile. The alternative shipping route around South Africa's Cape of Good Hope can add 10-14 days to a journey compared to passage via the Red Sea and the Suez Canal. Freight rates have more than doubled since early December, according to maritime consultancy Drewry's world container index, while insurance sources say war risk premiums for shipments through the Red Sea are also rising.
Persons: Krishn Kaushik, Idrees Ali, Phil Stewart NEW, Yemen's, Houthi, Denmark's, Shivam Patel, Simon Lewis, Pavel Polityuk, James Davey, Terje Solsvik, Keith Weir, Catherine Evans Organizations: Indian Navy, U.S, U.S . Navy, Shipping, Genco, Wednesday, Pepco, Denmark's Maersk, Maersk Locations: Phil Stewart NEW DELHI, WASHINGTON, U.S, Gulf, Aden, Genco Picardy, Iran, Asia, Europe, Israel, Palestinian, Gaza, India, Picardy, States, Yemen, South Africa's, Suez, Ukraine, Africa
☆ European shares rise as U.S. inflation data soothes rate hike jitters
  + stars: | 2023-06-13 | by ( Shreyashi Sanyal Bansari Mayur Kamdar | Shreyashi Sanyal | Bansari Mayur Kamdar | ) www.reuters.com   time to read: +3 min
The pan-European STOXX 600 index (.STOXX) closed 0.6% higher, tracking the global market rally. The European Central Bank will hold its policy meeting on Thursday, where it is expected to hike rates by another 25 basis points to tame stubborn inflation. Industrial metal prices rose after the People's Bank of China (PBOC) lowered a short-term lending rate for the first time in 10 months to prop up risk sentiment. Meanwhile, German consumer prices, harmonised to compare with other European Union countries, rose by 6.3% on the year in May, data showed. Shares of Admiral (ADML.L) slid 5.1% after traders said Citi downgraded the British motor and home insurer to "sell."
Persons: Steve Sosnick, Antonio Villarroya, Richemont, Denmark's, Shreyashi Sanyal, Siddarth, Rashmi Aich, Richard Chang Organizations: Miners, Citigroup, Reserve, Interactive Brokers, Traders, European Central Bank, Santander CIB, People's Bank of China, Union, Bank of England, Denmark's Maersk, Nvidia, Citi, Thomson Locations: China, U.S, South Korea, Denmark, Swedish, Bengaluru
☆ Shipping industry grapples with ways to cut cargo fires at sea
  + stars: | 2023-02-22 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Feb 22 (Reuters) - Global shipping companies are exploring ways to boost safety in transporting cargoes as risks grow from fires erupting inside containers or in cars at sea, officials said on Wednesday. Shipping transports around 90% of world trade onboard different vessels including container and Ro-Ro ships with trade routes getting busier. "The main root cause for cargo fires on container ships is the integrity of dangerous goods throughout the supply chain. Therefore it is a problem that can only be improved through industry wide solutions," Maersk's Aslak Ross said separately in a statement. Reporting by Jonathan Saul Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
☆ Top container shippers Maersk, MSC to end alliance from 2025
  + stars: | 2023-01-25 | by ( Jacob Gronholt-Pedersen | ) www.reuters.com   time to read: +2 min
COPENHAGEN, Jan 25 (Reuters) - Denmark's Maersk (MAERSKb.CO) and Swiss-based MSC, the world's largest container shipping companies, said on Wednesday they had agreed to end a vessel sharing alliance in January 2025, allowing them to pursue individual strategies. Both companies saw the alliance as a way to manage more capacity after purchasing new mega-ships. "Today, we have a much different strategy, where we more look at how to integrate container shipping at sea with our land-based logistics business," Maersk's head of ocean shipping Johan Sigsgaard told Reuters in an interview. Maersk expects to be able to deliver ocean shipping at the same scale when the partnership with MSC ends without rising the cost of moving each container at sea, Sigsgaard said. MSC, privately owned by the Aponte family, overtook Maersk as the world's biggest container in 2021.
☆ Russian oil sanctions fuel boom for old tankers
  + stars: | 2022-12-05 | by ( Julia Payne Jonathan Saul | Julia Payne | Jonathan Saul | ) www.reuters.com   time to read: +9 min
LONDON, Dec 5 (Reuters) - The market for old oil tankers is booming, and it's all down to efforts by Western nations to curb trade in Russian crude. The European Union banned all seaborne Russian crude imports from Dec. 5, with a fuel import ban to follow in February. PRICE SURGEMajor Western oil companies typically stop using tankers when they are about 15 years old, and many would be scrapped. More tankers are now being used for voyages taking weeks, shipping Russian oil from the Baltic and Black Sea to Asia, whereas Russian oil was mainly sold in Europe previously and the voyages only took a few days. Ship broker Braemar also said that some of the vessels involved in shipping Iranian and Venezuelan oil were shifting to transporting Russian oil.
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