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VTB and VTB-Europe banks provided documentary and direct credit to Volga-Dnepr Company, which is backed by the AN-124-100 Ruslan jets. As VTB's press-service reports, the credit is worth $80 mln. The funds will be spent to finance some investment projects and to buy back the minority shares by the company's management.
Yesterday the chief of the State technical and quarantine control of the quality of goods of Chinese Peoples' Republic Lee Chanjuan told that 85% of the toys recalled by Mattel were produced in accordance with the requirements of American importers. He noted that in the past year China supplied to the world market about 22 bln. toys and most of them corre...
STX Shipbuilding has won an order worth KRW 202bn ($214.64m) from a European owner for four bulkers. The identity of the owner was not revealed by the South Korean yard in a regulatory filing on Monday. Although STX did not mention the size of the units or if the four ships are of the same size, a per-ship price tag of $53.66m for same...
Ukraine environmental and customs authorities are punishing ship masters with excessive fines for simple operational errors, reports TradeWinds quoting the leading protection–and-indemnity (P&I) clubs. A spate of fines for misdeclaration of bunkers is described as a “braze practice of wringing money out of foreign-flag vessels”. The 2 big issues f...
Oslo-based broking shop Fearnleys has started a joint venture with two shipbroking brothers to target the newbuilding market in Russia and the Ukraine, reports TradeWinds. MIL Shipping is a 50/50 venture between Fearnleys and Harald F Askvig and Erick C Askvig. According to TradeWinds, Erik Askvig is particularly enthusiastic about the future pros...
A container ship has damaged lock gates on the Kiel Canal so badly that the system has all but ground to a halt. The JORK RELIANCE, a new container ship that was delivered from Damen Shipyards in March of this year, inexplicably collided with a lock gate yesterday and buckled it. Ships have banked up on the canal and at entrances as the system par...
South Korea's Daewoo Shipbuilding and Marine Engineering on Monday said it plans to build the world's biggest floating dock to meet growing demand for large container ships. The world's third largest shipyard intends by June 2009 to build the new dock which could produce six or seven container vessels per year, said spokesman Yoon Yo-Han.
Samsung Heavy Industries has bagged another huge order for boxship leviathans. The South Korean yard received the order worth KRW 1.27 trillion ($1.35bn) for eight units from an unidentified European owner, it reported in a stock exchange announcement on Monday. Although no vessel size was specified, given the contract value the ships are likely t...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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