VLCC rates plummet to lowest point in two months
DEMAND for double-hulled very large crude carriers has picked up, but charter rates for single-hulled tankers continue to drop as owners back out of fixing older tonnage, writes Martyn Wingrove.
Price of litre of petrol tops 1 for first time in UK as oil surges on a North Sea storm. By Graeme Wearden.
The pound climbed to $2.10 for the first time since 1981 today, boosted by speculation that China was preparing to shift its foreign reserves out of dollars. By Graeme Wearden.
Market report: London shares resumed their downward trek today, knocked by volatile oil prices, a tumbling dollar, jitters around banks and more anxieties on Wall Street. By Katie Allen.
Virgin Media signals that era of upheaval marked by public rows with BSkyB is behind it as the cable TV company posts strongest customer growth in more than a year. By Katie Allen and Chris Tryhorn.
Henkel, the maker of Schwarzkopf hair products, plans to cut thousands of jobs when it completes its 2.7bn acquisition of ICI’s National Starch adhesives business early next year. By David Gow.
British bus and rail operator says soaring oil price forcing motorists out of their cars and on to public transport. By Dan Milmo.
Outlook at fashion chain Next ‘uncertain’ in run-up to Christmas, company warns. By Julia Finch.
Cable group Virgin Media added 13,000 new customers in the third quarter of the year. By Chris Tryhorn.
King: ‘No disagreement with chancellor’ Authorities knew savers had insufficient protection
Record label Universal Music Classics & Jazz is making its entire catalogue available online without copy protection as part of an experiment to gauge fans’ demand for MP3 tracks. By Katie Allen.
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Share ThisPrice of litre of petrol tops 1 for first time in UK as oil surges on a North Sea storm. By Graeme Wearden.
The pound climbed to $2.10 for the first time since 1981 today, boosted by speculation that China was preparing to shift its foreign reserves out of dollars. By Graeme Wearden.
Market report: London shares resumed their downward trek today, knocked by volatile oil prices, a tumbling dollar, jitters around banks and more anxieties on Wall Street. By Katie Allen.
Virgin Media signals that era of upheaval marked by public rows with BSkyB is behind it as the cable TV company posts strongest customer growth in more than a year. By Katie Allen and Chris Tryhorn.
Share ThisFIS DRY BULK FFA PRICES 24 Jan 2008
For more information on routes or calculations please visit www.balticexchange.com
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Share ThisHOWE ROBINSON CONTAINER INDEX 1,365.6 (+1.6) 23 Jan
Source: ICIS Pricing
SHIPPING needs to brace itself for a downturn in world trade and demand for maritime services as a likely consequence of the global economic crisis, London?s leading marine insurers have warned in Lime Street.
A REPORT published by South Korea?s Ministry of Knowledge Economy and the National Intelligence Service has warned that security at the nation?s shipyards has a great deal of room for improvement.
CONVOYS, coastguards, more warships and a curb on ransom inflation are all options in the fight against Somali piracy, according to a new Chatham House report.
FIVE executives from the Jones Act liner industry have pleaded guilty to price fixing, as the US government drew first blood in an investigation launched in April.
NORWEGIAN ferry operator Nye Kystlink held a crisis board meeting yesterday to discuss the its future, writes Craig Eason.
WRTSIL and Hyundai Heavy Industries remain confident about the long-term prospects for the market for liquefied natural gas carriers, despite the dearth of orders for new vessels, ongoing delays in developing LNG terminals and the global financial crisis, writes Keith Wallis.
FRENCH energy group GDF Suez has indicated that its new LNG terminal at the port of Marseilles will come into service a further 12 months behind schedule, writes Andrew Spurrier.
GENOA-based Bravo Futures has been renamed Imarex Italia after Norwegian derivatives broker Imarex exercised its option to purchase a majority stake, writes Jamie Dale.
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Share ThisRussian tax breaks set up storage rush
DEMAND for tankers to act as floating storage units in the Black and Baltic seas is bound to pick up after the Russian government introduced tax breaks.
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SHIPOWNERS who have tonnage entered mutually in Gard P&I Club, one of the world?s top two such organisations, are to receive a total $9m ?give back?.
THE financial restructuring of government-owned Hindustan Shipyard has been delayed further and referred to a group of ministers after suggestions that its expansion plans could cause national security concerns.
JINHUI Shipping and Transportation, the Oslo-listed Hong Kong bulker operator, saw net profit surge 109% to $12.8m in the first quarter buoyed by soaring charter rates. Turnover climbed 49% to $54.3m.
DRYSHIPS chief George Economou has hailed an ?exceptionally strong? first quarter for the Nasdaq-listed dry bulk company, writes Nigel Lowry in Athens.
IMPROVED results for the first quarter of 2007 have been unveiled by the Piraeus Port Authority, the corporation in charge of Greece?s largest port.
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