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shipyard and offshore

Damen acquires Daewoo’s shares in Mangalia

Mangalia - Damen Shipyards Group has entered into a share purchase agreement with Daewoo Shipbuilding & Marine Engineering (DSME) for the acquisition of its majority share in Daewoo Mangalia Heavy Industries (DMHI)

road rail air transport

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

finance and politics

Turkey’s enemy of interest rates targets banks

Ankara - Turkish President Tayyip Erdogan is encouraging businesses to borrowand spend to power the economic growth that has underpinned his long rule. But after years of expanding credit, some Turks are wary


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

shipyard and offshore

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

finance and politics

Russia-Indonesia trade turnover up 14% in 2017

Moscow - Russian-Indonesian trade increased by 14% in January-May 2017,as compared with the same period in 2016, Russia’s Deputy Industry and Trade Minister Oleg Ryazantsev said at the Russian-Indonesian business forum on Friday

finance and politics

Russian Eurobonds: foreign investors took 85%

Moscow - Foreign investors bought 85% of new sovereign Eurobonds that Russia issued this week, Finance Minister Anton Siluanov said on Wednesday: “There was a huge interest despite all limitations and sanctions,” Siluanov said

road rail air transport

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

shipyard and offshore

Turkish shipbuilding sees continued growth

Yalova - Transport, Maritime Affairs and Communications Minister Ahmet Arslannoted increased investment in the Turkish shipbuilding industry, with $2.8 billion in the last 15 years as well as significant growth in infrastructure


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

shipyard and offshore

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

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

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

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.

shipyard and offshore

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

road rail air transport

’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

oil and energy

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

shipyard and offshore

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