Business / Corporate Jan 29, 2016

Mitsui O.S.K. expects to sink into red ink for business 2015

Shipping giant Mitsui O.S.K. Lines Ltd. said Friday it will fall into the red in the business year ending in March after incurring huge restructuring costs amid deteriorating profitability on sluggish demand linked to China's economic slowdown. The company is forecasting a consolidated net loss ...

Ships beached for scrap as returns reach record low

Business Mar 13, 2015

Ships beached for scrap as returns reach record low

by Naomi Christie

Scrap yards are preparing for record numbers of freighters as shipping rates tumble to all-time lows. Owners may demolish 40 million deadweight tons of dry bulk carriers, more than double last year's total, according to Arctic Securities ASA in Oslo. Rates to ship commodities slumped ...

Business / Economy Feb 21, 2015

Tentative West Coast port deal reached

Negotiators reached a tentative contract covering West Coast dockworkers on Friday evening, likely ending a protracted labor dispute that snarled international trade at seaports handling about $1 trillion worth of cargo annually. The breakthrough came after nine months of negotiations that turned contentious in the ...