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
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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.
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
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;
Istanbul - Turkey’s crucial energy routes avoided prolonged disruption from Friday’s failed military coup, but the action underlined the risks associated with its role as a key trade crossroads between the Middle East and Europe.
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.
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
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)
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.
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
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
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
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
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
Bucharest - Snow is not forecast for the next few days but temperatures are set to remain around minus 15 degrees Celsius.
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
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
Moscow - A Russian Black Sea corvette and a coast guard boat have forced a commercial vessel under a Turkish flag to change course after it got in the way of a Crimean energy firm’s boats towing oil rigs.
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