China said on Wednesday South Korea's coast guard should not have been operating in part of the sea where one of Seoul's patrol boats sank last week during an operation to crack down on a group of Chinese fishing boats. South Korean coast guard…
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Dutch firm Avantium to IPO to fund plastics from plants
FRANKFURT (Reuters) - Dutch chemical technology firm Avantium will announce an initial public offering (IPO) this week to fund production of plant-based plastics for Coca Cola bottles and Danone yoghurt cups, two people familiar with the plan told Reut...
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Evidence Suggests Houthi Role in Strike on US Warship
The United States is seeing growing indications that Iran-allied Houthi rebels, despite denials, were responsible for Sunday's attack on a Navy destroyer off the Yemen coast, U.S. officials told Reuters. The rebels appeared to use small skiffs…
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Oil Rises on Record Indian Imports, Hopes of Output Caps
Oil prices edged up on Wednesday, supported by record Indian crude imports and talks between OPEC producers and other oil exporters on curbing output to end a glut in the global market. Global benchmark oil futures, the Brent and U.S. West Texas Intermediate (WTI) contracts…
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DCNS Mulls Buying Stake in STX France
The head of the French state-controlled naval defence group DCNS said on Wednesday it was "closely studying" a possible stake purchase in STX France, a shipyard subsidiary of the struggling South Korean conglomerate STX Corp. Herve Guillou said…
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VLCC Brings India’s First Iranian Oil Parcel for Emergency Reserves
India has received the first parcel of Iranian oil to partly fill its strategic storage in southern India, Mangalore Refinery and Petrochemicals Ltd , which imported the very large crude carrier (VLCC), said on its website. MRPL shipped in 2 million ba...
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Japan Protests over Signs of Renewed Chinese Gas Exploration
Japan has protested to China over signs it is pressing ahead with maritime gas exploration in the East China Sea despite Tokyo's repeated requests to stop, Japan's top government spokesman said on Wednesday. The exploration platforms are on…
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Lithuania Terminal Operator to Start LNG Bunkering in 2017
Lithuania plans to start liquefied natural gas (LNG) bunkering next year, and will soon call a tender for a test cargo, Klaipedos Nafta, the operator of the terminal, said on Wednesday. The onshore bunkering station at Klaipeda port would be able to reload 250…
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NYK Expects Loss of $1.9 Bln
The Japanese shipping operator Nippon Yusen Kabushiki Kaisha (NYK Line) will book an ‘extraordinary’ loss totaling 195 billion Japanese yen (U.S. $1.89 billion) for the interim period of its current fiscal year, forced by a deep slump in the…
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Hanjin Shipping to Lay Off U.S. Staff
South Korean liner carrier Hanjin Shipping has announced job cuts in the U.S., but says the move is not connected to its failure and filing for bankruptcy protection, says a report in Bloomberg. Hanjin will lay off about 180 members of its 500 person w...
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