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finance and politics

Separatists hit Ukrainian vessel

Kiev - Separatist rebels attacked a Ukrainian naval vessel in the Azov Seaon Sunday by firing artillery from the shore, and a Ukrainian military spokesman said a rescue operation was under way. Spokesman Andriy Lysenko said the vessel was a naval cutter


Ukraine prepares for “Russian-led” assault in Mariupol

Novoazovsk - Ukrainian forces and residents in Ukraine’s eastern port of Mariupol braced for attack on Sunday from advancing pro-Russian rebels who Kiev says are backed by a Russian armoured column in a new offensive that has tipped the balance in a five-month war

oil and energy

Ukraine: no progress in gas talks with Russia

Kiev - Ukraine’s Energy Minister Yuri Prodan said on Friday that Kiev was disappointed by a “lack of constructive approach” from Russia on gas talks, which have already caused a cut-off of gas supplies to Ukrainian consumers


Sovcomflot reports strong first half 2014 results

Moscow - OAO Sovcomflot (“SCF Group”), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, today announces its financial and operating results for the six months ended 30 June 2014

oil and energy

Russia gets tentacles into the offshore sector

Milano - The names are Prirazlmnoye, Sakhalin, Dolginskye, and Khvalynskoye and they are located in the Okhotsk Sea, the Arctic regions, the Pechora Sea, the Baltic Sea and the Caspian Sea. These names may sound obscure today, but they may change the energy future of Russia


Allianz lead insurer for jet shot down in Ukraine

Kiev - Germany’s Allianz SE is the lead hull and liability reinsurer covering the Malaysian airliner that was shot down over eastern Ukraine on Thursday. Willis Group Holdings brokered the insurance. In the Malaysia Airlines Boeing 777 there were 298 people aboard

road rail air transport

Some airlines avoided Ukraine already months ago

Sydney - Airlines including Qantas Airways and Air Berlin altered their flight paths months ago to avoid Ukrainian air space after fighting flared up in the region, raising questions about why others did not do the same


IMF: decision on $1.4 bln tranche to Ukraine in weeks

Kiev - The International Monetary Fund expects to decide within weeks on issuing the second tranche of a $17-billion bailout to Ukraine, whose economy is likely to contract by 6.5 percent this year, its Kiev mission chief said on Friday


Crimea supplies grain products to Turkey

Moscow - The Crimea region, annexed by Russia from Ukraine earlier this year, has supplied grain products to Turkey, Russia’s Veterinary and Phytosanitary Surveillance Service (VPSS) said in a statement on Friday. Crimea began exporting grain to Saudi Arabia and Cyprus in late June

cruise and ferries

Crimea-Kavkaz Ferry Line under Scrutiny

Kavkaz - The current ferry transport situation in Crimea regionwas put under review during Russian Minister of Transport Maxim Sokolov’s working visit to Kavkaz Seaport, where he inspected the work of the Crimea – Kavkaz automobile ferry line

finance and politics

Russia economy would shrink if hit by sanctions

Moscow - The Russian economy would contract should the West introduce wide-ranging sectoral sanctions over Ukraine but that would not be a “dramatic” situation, Economy Minister Alexei Ulyukayev was quoted on Saturday as saying

shipyard and offshore

“Almuntazah” upgraded by Chernomorsky

Nikolayev - Ukraine’s Chernomorsky Shipbuilding Yard has carried out modernization and repair of tanker Almuntazah under the contract with Arida Trade LLP (UK), the shipyard’s press center says. The CSY has improved the vessel’s cargo capacity,strengthened her hull, repaired the rudder propeller unit