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Oetker shipping line won't bid for Hapag-Lloyd (Reuters via Yahoo! Philippines News) BIELEFELD, Germany, June 17 (Reuters) - Germany's Oetker group has no plans to bid for TUI's Hapag-Lloyd container shipping business, it said on Tuesday. Israel Corp calls off Zim shipping flotation (Financial Times) The owner of one of the world?s fastest-growing container shipping lines has called off plans to float the shares publicly, citing turbulent market conditions. Tonnage tax fails to net FDI in shipping (Express India) After India introduced the tonnage tax regime which cut the tax incidence on investors in the shipping sector in 2004-05, the tonnage strength of India's fleet rose sharply in comparison to the measly 7% growth recorded between 1992 and 2003. Genco Shipping & Trading Limited Announces Plan to Sign Time Charter for Newly Acquired Vessel (PR Newswire via Yahoo! Finance) Genco Shipping & Trading Limited today announced that it has reached an agreement to commence a time charter for the Genco Raptor, a 2007-built Panamax vessel, with COSCO Bulk Carriers Co., Ltd. for 46 to 50 months at a rate of $52,800 per day, less a 5% third party brokerage commission. (AFX UK Focus) 2008-06-17 06:32 U.S. Shipping Partners ratings remain on negative watch - S&P (Interactive Investor) MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said its ratings on U.S. Shipping Partners L.P., including the 'B-' long-term corporate credit rating, remain on negative watch after the tanker company announced that it is in talks with its lenders to amend certain financial covenants under its senior credit facility to prevent the possibility of a financial covenant breach over ... (AFX UK Focus) 2008-06-18 04:28 Tokyo shares end morning firmer, led by property, shipping stocks - UPDATE (Interactive Investor) TOKYO (Thomson Financial) - Japanese shares ended the morning session slightly higher on Wednesday as investors looked past Wall Street's overnight fall and bought property and shipping stocks, encouraged by a stable yen and continued interest shown by foreign investors. (AFX UK Focus) 2008-06-17 15:49 Oslo shares close higher, led up by bulk, oil shipping stocks (Interactive Investor) OSLO (Thomson Financial) - Oslo shares closed higher, led up by Norway's oil and bulk shipping stocks on the back of strong market fundamentals and rising charter rates, dealers said. High cost of shipping goods brings some jobs back to U.S. (The Tennessean) The rising cost of shipping everything from industrial pump parts to lawn-mower batteries to living-room sofas is forcing some manufacturers to bring production back to North America and freeze plans to send even more work overseas. Genco Shipping to buy 6 drybulk newbuildings (AP via Yahoo! Finance) Genco Shipping & Trading Ltd. said Monday it is buying six drybulk newbuildings for $530 million in order to further enhance its fleet and benefit from demand for commodities like iron ore and coal. Sinotrans Shipping says parent in merger talks (Reuters via Yahoo! Malaysia News) HONG KONG, June 18 (Reuters) - Sinotrans Shipping Ltd <0368.HK> said late on Tuesday controlling shareholder China National Foreign Trade Transportation (Group) Corp, or Sinotrans Group, was considering a merger with China Changjiang National Shipping Corp. |
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