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black-sea

shipyard and offshore

Yantar Shipyard launches “Admiral Essen”

Kaliningrad - Russia based JSC Baltic Shipyard “Yantar” on November 8 hosted an official launching ceremony for the second serial frigate of Admiral Grigorovich class “Admiral Essen” ordered for the Black Sea Fleet of Russia, the Ministry of Defense said

finance and politics

VTB may delist from London in favour of China

Beijing - VTB, Russia’s No.2 bank, may delist from the London Stock Exchange (LSE) in favour of Chinese bourses as sanctions imposed in the Ukraine crisis hit its ability to raise capital in Western markets, its chief executive said on Monday

finance and politics

Russian c.bank cuts growth forecasts

Moscow - Russia faces the prospect of three years of economic stagnation,the central bank predicted on Monday, underscoring the heavy costs of President Vladimir Putin’s Ukraine policies and of Russia’s dependence on fragile oil prices

oil and energy

In Gazprom deal, JPMorgan takes on business

New York - When JPMorgan Chase & Co agreed to lead a $700 million bond offeringfor Russian gas producer Gazprom, it was doing business that some U.S. banks are afraid to do, several lawyers and a banker said. Gazprom faces U.S. sanctions after the U.S. government widened its restrictions against Russia in September

ports

Poroshenko aims to privatize Ukrainian ports

Kiev - Ukrainian President Petro Poroshenko’s party, the Petro Poroshenko Bloc, has proposed suspending the granting of long-term concessions on operation of seaports, and instead privatizing them after the situation in eastern Ukraine stabilizes

shipowners

Industry EU Russian sanctions updater: shipping

London - The latest rounds of EU sanctions could have a significant impacton the shipping sector, making it imperative that businesses are aware of the scope of these sanctions. Businesses and senior management should be aware of the steps that can be taken to mitigate the risk of being in breach of the sanctions

intermodal and logistics

Ukraine’s Logistic firm claims it is victim of illegal takeover

Kiev - On Sept. 26, the State Registry of Legal Entities recorded an ownership change in the nation’s second largest privately-owned rail cargo firm Interleaseinvest with $40 million in yearly revenues. Top managers in the company said they didn’t know anything about it

shipyard and offshore

Ukranian shipbuilding faces serious crisis

Kiev - Ukranian shipbuilding is on the verge of a serious crisis,due to the breakdown in relations with Russia and termination of the $4 billion contract between the two sides. Under the terms of the contract with the Russian government, Russia would provide guarantees for investment in joint development of equipment

ports

Istanbul, on the waterfront / REPORTAGE

Istanbul has been a metropolis since the days of Constantine, immense, multifaceted, loaded with people, traffic and commerce: anyone who knows it even a little, can see clearly that Istanbul cannot be described in a single picture, and even less in a postcard picture of Hagia Sofia overlooking the Bosporus

intermodal and logistics

A shipping line from Serbia to Russia

Belgrade - The Chamber of Commerce and Industry of Serbia (PKS) has submitted an initiative to the commercial representative office of the Russian Federation in Serbia for a shipping line to be introduced between the two countries, PKS official Milos Kosanic said on Thursday

shipyard and offshore

Crimean shipyards will be used for warships

Simferopol - As of today, Crimean shipyards cannot be efficiently used for civil shipbuilding, says Aleksei Rakhmanov, head of the United Shipbuilding Corporation, as saying at the press conference dedicated to his 100-day long period of office

finance and politics

Ukraine’s Lost Trade Opportunity

New York - The European Union announced earlier this month that it has agreed with Ukraine to delay implementation of the Association Agreement between the two sides until the start of 2016. Most observers view this as a concession to Russia.

finance and politics

Russia still on track to achieve low inflation

Moscow - Russia’s central bank can achieve low inflation despite economic shocks from the Ukraine crisis, the bank’s Deputy Governor Ksenia Yudayeva told Reuters on Wednesday. She was cautious about economic growth, though, arguing that low growth was a serious structural problem facing the country

ports

Russia Set to Develop Crimean Ports

Simferopol - Russia is considering the aspects of reunification of Crimea with Russiawithin the framework of modernizing its Azov-Black Sea port infrastructure, Russia’s President Vladimir Putin said. “The existing and future port terminals in Crimea and Krasnodar Territoryshould complement each other”

finance and politics

Russia approves 2015-2017 budget

Moscow - The Russian government has approved the budget for 2015-17, Finance Minister Anton Siluanov said on Thursday, the first since Moscow annexed Crimea and the West imposed sanctions on Russia for its policy on Ukraine

finance and politics

Ukraine PM slams Putin, ceasefire under strain

Kiev - Fighting flared near an airport in eastern Ukraine on Saturday in breach of a fragile eight-day ceasefire as the prime minister accused Russian President Vladimir Putin of planning to destroy his country. Prime Minister Arseny Yatseniuk said only membership of NATO would enable Ukraine to defend itself