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
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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
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
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
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
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
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
Moscow - The terminal, which NCSP expects to be completed in 2018, will allow Metalloinvest, to divert its export capacity from Ukraine to Novorossiisk.
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
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
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
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
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.
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
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”
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
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
Moscow - A Russian Defence Ministry official dismissed on Tuesday a complaint by Ottawa that Russian military aircraft had acted provocatively by flying near a Canadian warship sailing in the Black Sea.
Istanbul - Sean Pierce opened the third edition of Black Sea Ports yesterday with an invitation to optimism.
Istanbul - The Black Sea is a special place that offers little for generic analysts: it represents 2% of global container traffic.