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Nov 25, 2014

Ship broker Clarkson looks to acquire Norway’s Platou for 281 million pounds

LONDON (Reuters) – Top ship broker Clarkson (CKN.L: Quote, Profile, Research) is seeking to acquire Norwegian brokerage and investment bank RS Platou for 281.2 million pounds ($441 million) in a deal that would create one of the sector’s biggest players globally.

The deal would be the latest in an industry which has suffered one of its worst-ever downturns in the past five years. Owners ordered large numbers of vessels between 2007 and 2009, just as the global economy started to slow, creating a glut.

Nov 25, 2014

Ship broker Clarkson looks to acquire Norway’s Platou for $440 million

LONDON (Reuters) – Top ship broker Clarkson (CKN.L: Quote, Profile, Research, Stock Buzz) is seeking to acquire Norwegian brokerage and investment bank RS Platou for 281.2 million pounds ($441 million) in a deal that would create one of the sector’s biggest players globally.

The deal would be the latest in an industry which has suffered one of its worst-ever downturns in the past five years. Owners ordered large numbers of vessels between 2007 and 2009, just as the global economy started to slow, creating a glut.

Nov 20, 2014

NATO scrambles jets 400 times in 2014 as Russian air activity jumps

AMARI Estonia/LONDON (Reuters) – NATO warplanes have had to scramble 400 times this year in response to an increase in Russian air activity around Europe not seen since the Cold War, the alliance’s chief said on Thursday.

North Atlantic Treaty Organisation members have sought to fill gaps in the alliance’s land, air and sea defences since Russia annexed Crimea and backed a secessionist movement in the eastern part of Ukraine.

Nov 20, 2014

Russian firms face huge insurance costs as foreign providers flee

LONDON/MOSCOW (Reuters) – Russian companies face billions of dollars in extra insurance costs as Western sanctions prompt foreign insurance firms to start pulling out, worried that any business they undertake is at risk from future measures and an increasingly sick economy.

Russian President Vladimir Putin came under heavy criticism at a G20 summit last weekend, where Western leaders accused him of continuing to destabilize Ukraine in violation of a September peace agreement.

Nov 19, 2014

Baltic Exchange faces EEX challenge as ship futures market heats up

LONDON, Nov 19 (Reuters) – Britain’s Baltic Exchange faces
competition from EEX, part of Deutsche Borse, as it tries to
revive its loss-making Baltex dry bulk freight derivatives
platform.

Baltex was launched by the centuries-old Baltic Exchange in
June 2011 as the first central electronic marketplace for
freight forward agreements (FFAs), which allow investors to take
positions on freight rates at a point in the future.

Nov 19, 2014

ICAP shipping arm in merger talks with rival as M&A heats up

LONDON (Reuters) – ICAP’s (IAP.L: Quote, Profile, Research, Stock Buzz) shipping business is in merger talks with rival shipbroker Howe Robinson, the latest potential tie-up among sector players looking for scale after years of freight market turmoil.

The shipping industry has suffered one of its worst ever downturns in the past five years. Owners ordered large numbers of vessels between 2007 and 2009, just as the global economy started to slow.

Nov 6, 2014

Russian Arctic oil shipping ventures to struggle as sanctions bite

LONDON, Nov 6 (Reuters) – Shipping services that support
Russia’s attempts to extract oil from remote parts of the Arctic
will run into difficulties as banks scale back energy financing
due to Western sanctions, increasing transport costs for the
frontier sector.

Sanctions imposed on Russia by the United States and
European Union over Ukraine have targeted the delivery of oil
technology, goods and services, aiming to make it impossible for
Moscow to access new oil sources.

Nov 4, 2014

Exclusive: Shipping lines apply ‘Ebola clause’ to fend off virus risks

LONDON/NEW YORK (Reuters) – As Ebola persists in West Africa, shipping lines and traders are tweaking their contracts to protect themselves if the disease puts crews at risk of infection or prevents vessels calling at affected ports.

Ebola has not yet forced ports to close, but uncertainties about the spread of the virus are adding to legal and financial concerns for those involved in shipping oil, cocoa and minerals from the region.

Nov 4, 2014

Shipping lines apply “Ebola clause” to fend off virus risks

LONDON/NEW YORK, Nov 4 (Reuters) – As Ebola persists in West
Africa, shipping lines and traders are tweaking their contracts
to protect themselves if the disease puts crews at risk of
infection or prevents vessels calling at affected ports.

Ebola has not yet forced ports to close, but uncertainties
about the spread of the virus are adding to legal and financial
concerns for those involved in shipping oil, cocoa and minerals
from the region.

Oct 22, 2014

Blogs, videos and verse: an Iraqi poet’s quest to heal her homeland

LONDON (Reuters) – Iraqi-born poet Amal al-Jubouri may not have the Hollywood recognition of Angelina Jolie, but both women are artists who have decided to use their talents and profile to help the victims of war.

When al-Jubouri, one of foremost poets writing in Arabic, met Jolie this year, she urged the actress and U.N. humanitarian envoy to go with her and see the worsening hardships in her homeland. Jolie has already visited Iraq in previous years.