UK set fair for tonnage tax CHANCELLOR Gordon Brown has finally given the green light - at least in principal - to a tonnage tax to help revive British shipping.
Lloyd's denies radical overhaul LLOYD'S of London said yesterday that it was not considering demutualisation, following reports that a further radical overhaul was being examined by the insurance market, writes Andrea Felsted.
Merger benefits push BP Amoco to $1.2bn first quarter profit ANGLO-American oil giant BP Amoco has posted a 13.6% climb in second quarter underlying profits fuelled by merger benefits including 12,500 job losses.
North Europe-US exporters facing new box charges SHIPPERS exporting freight from northern Europe to the US face a container repositioning charge from next month.
Hamburg Süd seals Crowley Latam purchase AS anticipated, Germany's Hamburg Süd is to buy the South American liner services of Florida-based Crowley American Transport in a significant step towards consolidation in this overcrowded trade.
Sea Containers plans investment SEA Containers, which has bought ferry operations in the Baltic and in New York this year, is planning a further investment in the Mediterranean at the year end.
ECT and Møller win Suez Canal box terminal contract DUTCH container stevedore Europe Combined Terminals (ECT), Danish transport and shipping giant A P Møller and a consortium of Egyptian companies have won a contract to develop a new 1.75m teu box terminal in Port Said East at the mouth of the Suez Canal.
Japan offers to invest in Saudi oil JAPAN has offered to invest $4bn in Saudi Arabia over the next decade in a bid to renew a lucrative upstream oil contract in the kingdom.
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