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finance and politics

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

finance and politics

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.

finance and politics

Foreign investments jarred by crackdown

Istanbul - Turkey’s botched coup and an apparent lurch towards authoritarianism is ratting investors and threatens to throw into reverse the hundreds of billions of dollars that have flowed to this once-booming emerging market


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;


Turkey reopens key route for oil, grains transit after coup attempt

Istanbul - The Bosphorus is one of world’s most important chokepoints for the maritime transit of oil with over three percent of global supply - mainly from Russia and the Caspian Sea - passing through the 17-mile waterway that connects the Black Sea to the Mediterranean.

finance and politics

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

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

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.

shipyard and offshore

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


Rickmers carries largest Siemens gas turbine

Bremerhaven - A special loading operation has taken place in Bremerhaven,involving Rickmers-Linie’s “Rickmers Hamburg”, a 485-tonne Siemens gas turbine, a 465-tonne Siemens generator and German project freight forwarder Bertling


Ruscon container traffic grows

Novorossiysk - Ruscon, one of the leading multimodal transport companies in Russia, has shown strong growth in 2015 despite a significant fall in the country’s overall container traffic. The company reported a 32% increase in export traffic, compared with the Russian total of a mere 1.6% rise in exported containers

oil and energy

New tax breaks on bunker at 3 Romanian ports

Constanta - Sources say that the Romanian ports of Constanta, Midia, and Mangalia are offering a reduced tax rate on bunker deliveries to shipowners that engage shipping agents, Platts reports. Previously, a flat rate of €200 ($222.1) per delivery is said to have been charged to shipowners employing agents at the ports

shipyard and offshore

Sanmar celebrates 40 years

Istanbul - Tugboat builder and operator Sanmar Denizcilik is celebratingits 40th Anniversary this year. More than 150 tugboats benefiting from its wealth of experience are presently in operation on international seas, the company says. It was in the year 1976 that Orhan Gürün incorporated Sanmar Denizcilik


Turkish operator fined $1m in Baltimore

Istanbul - Turkish shipmanagement companyCiner Gemi Acente Isletnii Sanayi Ve Ticaret has been fined $1m after pleading guilty in a Baltimore Court to violating the Act to Prevent Pollution from Ships, according to a US Department of Justice statement

shipyard and offshore

SMM Istanbul will not take place in 2016

Istanbul - The tense political situation in the region and the changing Turkish shipbuilding market have created a sense of uncertainty among international exhibitors, leading to a general reluctance to register for the SMM Istanbul conference and exhibition

oil and energy

Gazprom says halts gas supplies to Ukraine

Moscow - Russia’s Gazprom said on Wednesday it was halting gas supplies to Ukraineuntil it makes a prepayment for supplies. Gazprom said that by 10 a.m. (0700 GMT) on Wednesday Ukraine had received all gas it had paid for