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Industry Sectors:Finance & Insurance

Finance & Insurance

Geneva: Mediterranean Shipping Company (MSC) is selling a 35% stake in its global terminals business for $1.93bn.
Hong Kong: Dry bulk shipowner Pacific Basin Shipping has secured $85.2m 12-year post-delivery export credit financing for four Japanese-built bulkers.
Dubai: Shares in Gulf Navigation, a Dubai-based oil and chemical tanker shipping company, plummeted after it reported a doubling of annual losses. Company auditors warned its future depends upon the…
Athens: An improvised bomb, almost certainly targeting prominent shipowner Nikos Tsakos, has been set off outside his home in central Athens.  
Hamburg: Merger talks between Hapag-Lloyd and Hamburg Süd have been suspended by Hamburg Süd's owners the Oetker Group as the two sides failed to reach an agreement on the partnership.
Antwerp: Euronav announced a full year loss of $118m in 2012, an increase on 2011's $96m loss as the tanker market remains firmly in the doldrums.
London: Shipping insurance and financial adviser Moore Stephens says the stipulations in the 2013 UK budget promise positive effects for shipping.
Tel Aviv: Zim today announced an annual loss of $433m for 2012 as fourth quarter losses hit $239m. The loss includes a $133m one time charge related to the recent…
London: Hurricane Sandy has cost the global marine market a total of between $2.5bn and $3bn, the International Union of Maritime Insurance (IUMI) reports.  
Dubai: Offshore ship and rig yard group Lamprell today announced a full year net loss of $110.5m for 2012 as earnings fell 8.9% to $1bn.