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“EU will extend Russia sanctions in December”

“EU will extend Russia sanctions in December”

Buenos Aires - The European Union will extend its existing economic sanctions on Russia next month, a top official with the bloc said on Friday after Moscow’s action against Ukraine’s navy in the Sea of Azov. European Council President Donald Tusk will chair a summit of EU leaders on Dec. 13-14

Ukraine says martial law not affecting Azov Sea grain exports

Ukraine says martial law not affecting Azov Sea grain exports

Kiev - The imposition of martial law is not affecting Ukrainian grain shipments from ports on the Azov Sea so far and if necessary they can be diverted to the Black Sea, Ukraine’s acting agriculture minister says. More broadly, the prospects for grain exports from the Azov Sea are unclear at this point

Russia’s 1st cruise liner ready for tests in 2019

Russia’s 1st cruise liner ready for tests in 2019

Astrakhan - An ocean cruise liner under construction at the Russian Lotus Shipyard in Astrakhan will be ready for water trials next year. Russia hasn’t built vessels of such class for more than 60 years. The keel of the PV300 cruise ship with a capacity of 300 passengers was laid down at the shipyard in August 2016

Abramovich and partner to buy TransContainer stake from VTB
China’s Expo attracts 1,000 firms from Belt and Road countries
Crew of Iranian cargo ship poisoned, 3 dead

Crew of Iranian cargo ship poisoned, 3 dead

Baku - Three seamen have died from an unspecified toxic substance that poisonedall 11 crew members of an Iranian cargo ship on the Caspian Sea. According to the report, the crew of the vessel, “Nazmehr”, was transferred to a hospital in Baku

Zvezda to build LNG Aframax duo for SCF

Zvezda to build LNG Aframax duo for SCF

Moscow - Russian shipyard Zvezda Shipbuilding Complex is to build the country’s first LNG-fuelled tankers under an order from Sovcomflot for two Aframax newbuilds. The 114,000dwt ships will feature dual-fuel propulsion using LNG as the primary fuel

Russia, Iran, and 3 others agree Caspian status
Yilport closest to landing the port of Taranto

Yilport closest to landing the port of Taranto

Taranto - The port of Taranto and the container terminal have their eyes set on Turkey’s Yilport Holding AS. On Tuesday, the Port System Authority of the Ionian Sea, whose president is Sergio Prete, acknowledging the “preliminary positive evaluation by the Permanent Internal Commission”

Putin gives Russian army a political wing

Putin gives Russian army a political wing

Moscow - Vladimir Putin has created a new directorate inside the Russian army to promote patriotism, evoking memories of a Soviet practice that once saw soldiers taught the precepts of Marxism and Leninism by political commissars

EU slaps sanctions on six Russian groups over Crimea bridge
Damen assumes control at Mangalia shipyard

Damen assumes control at Mangalia shipyard

Mangalia - To signify its first day of operations at Damen Shipyards Mangalia in Romania, Damen held a modest ceremony at the yard on Monday, July 23rd. The celebrations mark Damen’s successful completion of the transaction with Daewoo Shipbuilding Marine Engineering (DSME) for the Mangalia shipyard

Georgia, Hong Kong sign free trade deal

Georgia, Hong Kong sign free trade deal

Tbilisi - Hong Kong and Georgia have signed a free trade agreement (FTA) which will provide legal certainty and boost market access and investment flow between the two countries. Georgia will eliminate import tariffs on 96.6% of its tariff lines for Hong Kong products

Putin would be ready to host G7 in Moscow

Putin would be ready to host G7 in Moscow

Qingdao - Russia did not choose to leave the G7 and would be happy to host its members in Moscow, President Vladimir Putin said on Sunday when asked about U.S. President Donald Trump’s suggestion that Russia should have been at its latest meeting

Moody’s slashes Turkish growth forecast to 2.5 percent
New orders for Crimean shipyards

New orders for Crimean shipyards

Yalta - RF Government is set to develop a plan for filling the order backlog of Crimean shipbuilding and ship repairing yards up to 2030 within a couple of months, says Dmitry Rogozin, Deputy Prime Minister of the Russian Federation

Romania’s seaports cargo traffic down 0.2 pct in 2017
Rail shortages are hitting Ukraine’s grain expansion

Rail shortages are hitting Ukraine’s grain expansion

Kiev - Ukraine’s grain industry is thriving, but its expansion is being hobbled by an aging railway. The entire rail network is operated by state-run Ukrzaliznytsya, hauling about two-thirds of all grains that go from farmers’ fields to the the country’s ports in the Black Sea area

Turkey earns nearly $400M from roads, bridges

Turkey earns nearly $400M from roads, bridges

Ankara - Turkey earned 1.46 billion Turkish liras ($387 million)in tolls from two bridges on the Istanbul Strait as well as toll roads in 2017, according to data released Wednesday by the state Highways Directorate. The July 15 Martyrs’ Bridge and the Fatih Sultan Mehmet Bridge, together yielded around 362.32 million liras

Vard records improved results in 3Q

Vard records improved results in 3Q

Singapore - Vard Holdings Limited,one of the major global designers and shipbuilders of specialized vessels, announced its financial results for the third quarter and nine months ended 30 September 2017. VARD recorded a revenue of NOK 2.01 billion in 3Q 2017, up 33%

Damen acquires Daewoo’s shares in Mangalia
Bulgaria, Romania plan new Danube bridge

Bulgaria, Romania plan new Danube bridge

Sofia - Balkan neighbours Bulgaria and Romania aim to build a second bridge overthe Danube, connecting Bulgaria’s Ruse and Romania’s Giorgiu in an attempt to improve infrastructure connectivity in the region and attract more foreign investment

Turkey’s enemy of interest rates targets banks
At least 18 dead as Russian bus falls into sea

At least 18 dead as Russian bus falls into sea

Moscow - Russian authorities say at least 18 people are dead after a bus packedwith construction workers fell into the sea in a southern region near Crimea. The federal Investigative Committee said the accident occurred at about 8 a.m. on August 25 as the bus was carrying workers after a shift building a pier

ASRV keel laying at Damen Galati

ASRV keel laying at Damen Galati

Galati - Construction of the DAMEN Antarctic Supply Research Vessel (ASRV) has taken an important step forward with an official keel laying ceremony, the company said. Following the long-established maritime tradition of placing a coin under the vessel’s keel, the ceremony was carried out by Nick Gales

Russia-Indonesia trade turnover up 14% in 2017
Russian Eurobonds: foreign investors took 85%
Russia sees no big surge in arms sales

Russia sees no big surge in arms sales

Paris - The Russian weapons industry remains competitive on a global scale despite Western sanctions, but the cyclical nature of the business and budget constraints are dampening prospects for a big surge in global arms sales, Russia’s top arms trade official said on Tuesday

Turkish shipbuilding sees continued growth
Tanker Bospor arrested for seamen smuggling

Tanker Bospor arrested for seamen smuggling

Odessa - Moldova-flagged tanker “Bospor” was arrested in Odessa Port,Ukraine, on June 8. According to official statement, during years 2015-2017 vessel was engaged in smuggling of some 100 Ukrainian seamen from Ukraine to Crimea Peninsula

Swiss interest in hi-tech cooperation with Russia

Swiss interest in hi-tech cooperation with Russia

Moscow - Swiss business looks forward to cooperating with Russia in hi-tech industries such as pharmaceuticals, civil aviation and shipbuilding, Yves Morath, the head of Swiss Business Hub Russia, an official entity of the Embassy of Switzerland which promotes implementation of Swiss export strategies

Russia wants to split Sovcomflot sale

Russia wants to split Sovcomflot sale

Moscow - Russia plans to sell part of State shipping firm Sovcomflot next month, hoping to draw in a wide range of small-stake investors rather than a strategic buyer who could threaten Moscow’s control of the group, banking and industry sources say

ICS commits to CO2 reduction objectives

ICS commits to CO2 reduction objectives

Istanbul - At its AGM in Istanbul, the International Chamber of Shipping (ICS) has agreed to urge the International Maritime Organization (IMO) to adopt some dramatic CO2 reduction objectives - on behalf of the international shipping sector as a whole - in order to match the ambition of the Paris Agreement

The new Black Sea port / REPORTAGE

The new Black Sea port / REPORTAGE

IN 2016 container traffic in Black Sea, except Turkey, fell by 12,2 % year over year during the first nine months of the year to 1,72 million teus excluding transshipments.

Bulgarian shipping company Navibulgar to buy 4 ships for US$32m
ZIM and MSC introduce a new joint Black Sea service
Outlook for Vard Holdings remains dim

Outlook for Vard Holdings remains dim

Singapore - Vard has been diversifying away from the oil and gas sector to boost orderbook but OCBC Investment Research warns client restructuring remains a hassle. VARD Holdings has been hit hard by the downturn in oil prices

’Ndrangheta: nuclear waste trafficking

’Ndrangheta: nuclear waste trafficking

La Spezia - His contact was “an inspector from a nuclear power plant in Bulgaria”,the alleged plan was to import radioactive waste into Italy, with the complicity of organized crime; at the centre, Vittorio Petricciola, an accountant from La Spezia, who was arrested as part of an investigation

Bulgaria to revive Belene nuclear power

Bulgaria to revive Belene nuclear power

Sofia - Bulgaria wants private investors to help it restart the Belene nuclear power projectafter a court ruled Sofia must pay hefty compensation to Russia over equipment ordered for it, Prime Minister Boiko Borisov said on Friday

Vard confirms four contracts with Ponant

Vard confirms four contracts with Ponant

Singapore - Vard Holdings Limited,one of the major global designers and shipbuilders of offshore and specialized vessels, announces that contracts for four luxury expedition cruise vessels with French cruise company Ponant have been confirmed

Stealing a peek at Russian economic uptick / FOCUS

Stealing a peek at Russian economic uptick / FOCUS

Moscow - Prone to false starts since a crisis peaked last year,Russia’s economy is riding momentum that has it on the cusp of exiting the longest recession in two decades. As business sentiment perks up, leading indicators from demand for electricity to rail cargoes and container transport show the pulse of the economy

Iran, Russia, Azerbaijan vow to create NSTC

Iran, Russia, Azerbaijan vow to create NSTC

Moscow - The NSTC was a central theme in the summit of Putin, Rouhani and Aliyev. “Our talks will focus on a flagship project – the International North–South Transport Corridor with a total length of 7,200 kilometers,” Russian President Vladimir Putin quoted as saying by the media before leaving for Baku.

Foreign investments jarred by crackdown
GE powers Turkish Navy’s MILGEM Corvette

GE powers Turkish Navy’s MILGEM Corvette

Istanbul - GE’s Marine Solutions announced that the Turkish Navy’s third MILGEMmulti-purpose corvette “TCG Burgazada” was launched powered by a GE LM2500 gas turbine-based propulsion system. The launch ceremony was held in mid-June at the Istanbul Naval Shipyard;

Energy routes avoid major disruption from failed Turkey coup attempt
Turkey reopens key route for oil, grains transit after coup attempt
Turkey rounds up plot suspects / FOCUS

Turkey rounds up plot suspects / FOCUS

Istanbul - Turkish authorities rounded up nearly 3,000 suspected military plotters on Saturday and ordered thousands of judges detained after thwarting a coup by rebels using tanks and attack helicopters to try to topple President Tayyip Erdogan

An encouraging start to 2016 for Sovcomflot

An encouraging start to 2016 for Sovcomflot

Moscow - Sovcomflot (“SCF Group”)today announces its financial and operating results for the first quarter ended 31 March 2016. Gross revenue (freight and hire receivable) for the three months (Q1) ended 31 March 2016 declined by 4.2 per cent to USD 341.5 million (Q1 2015: USD 356.6 million)

Jailed businessman Nadir moved to Turkey

Jailed businessman Nadir moved to Turkey

Istanbul - Turkish Cypriot businessman Asil Nadir,who was jailed in Britain for stealing millions from his business empire, has been transferred to a prison in Turkey. Nadir was flown from London to Istanbul on Thursday evening after British authorities accepted his request to serve the rest of his sentence in Turkey.

Cruiseships for Fincantieri’s crisis-ridden Vard

Cruiseships for Fincantieri’s crisis-ridden Vard

Fort Lauderdale - During Seatrade, the most important show in the cruise ship sector (held this year in Fort Lauderdale because Miami’s fairgrounds are being renovated), Fincantieri announced that its subsidiary, Vard, signed a letter of intent for the construction of four luxury cruise ships with the French shipowner Ponant