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“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

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

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


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

shipyard and offshore

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

oil and energy

Russia, Iran, and 3 others agree Caspian status

Aktau - Iran and four ex-Soviet nations, including Russia, agreed in principle on Sunday how to divide up the potentially huge oil and gas resources of the Caspian Sea, paving way for more energy exploration and pipeline projects


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

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

road rail air transport

EU slaps sanctions on six Russian groups over Crimea bridge

Brussels - The European Union has imposed asset freezes on six Russian firms for their involvement in the construction of a new road-and-rail bridge linking Russia to the annexed Crimean peninsula, which the bloc says is illegal

shipyard and offshore

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

finance and politics

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

finance and politics

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

Istanbul - Turkey’s lira hit its firmest level in nearly two weeks on Wednesday, a day after top economic officials met with investors in London in an attempt to soothe concerns about the direction of monetary policy under President Tayyip Erdogan

shipyard and offshore

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

road rail air transport

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

road rail air transport

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

shipyard and offshore

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%