17th February 2016
Trade News
European Commission - Press release Brussels, 16 February 2016 The European Commission has approved under the EU Merger Regulation the acquisition of Procter & Gamble's beauty products businesses by Coty. The Commission concluded that strong independent players would remain active in all the concerned markets.
Company News
Costco's Net Loss is at $407.6 m for 2015
Cosco Corporation (Singapore) Limited, a Singapore-listed ship repair and marine engineering and shipping group, recorded a net loss of SGD 570 million (USD 407.6 million) in 2015, compared to a net profit of SGD 20.9 million (USD 14.9 million) in 2014.
Cosco’s turnover decreased by 17.4 percent to SGD 3.5 billion in 2015 from SGD 4.3 billion in FY 2014 owing to a decrease in shipyard and shipping revenue.
APL
Mega-containership APL Vanda ran aground at Bramble Bank, in Southampton Water, the UK, following a loss of power on Saturday evening, February 13th.
APM Terminals
APM Terminals Pipavav welcomed the IDM Symex car carrier, which arrived with a cargo of 800 Hyundai cars loaded at the Port of Chennai on February 5th, in a pioneering use of coastal transportation of Indian-manufactured automobiles.Trade Sanctions
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