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Tufton Oceanic Finance Group, manager of the world’s biggest shipping hedge fund, bought a 50 percent stake in a fleet owned by failed asset manager Allco Finance Group. The 14 vessels include oil tankers, container ships and a commodity carrier and are valued at $250 million, Tufton said in an e-mail today, without disclosing the transaction price. ...
Piracy attacks around the world more than doubled to 240 from 114 during the first six months of the year compared with the same period in 2008, the ICC International Maritime Bureau’s Piracy Reporting Centre (IMB) said today. “As in the last quarterly report, the rise in overall numbers is due almost entirely to increased Somali pirate activity...
In 2008, FESCO net income calculated according to IFRS fell by 80%, year-on-year, to $20 mln, the company reports. Consolidated revenues reached $ 1.246 bln. (a 40% increase over FY 2007), EBITDA - $356 mln. (a 32% growth over FY2007). “Solid growth of revenues and EBITDA is primarily driven by growth in volumes, mainly i...
Russia is not planning to abandon its naval base in Sevastopol , Ukraine , but will nevertheless re-enforce Black Sea fleet facilities within Russia , the chief of General Staff said on Tuesday according to RIA Novosti. Russia 's lease of the naval base in the Crimea expires in 2017, but Moscow is hoping to extend the agreement. ...
In the first half of 2009, Commercial Port of Vladivostok OJSC handled 2,638,500 tonnes of cargo (-16%, year-on-year) having fulfilled 66% of the annual plan for cargo handling, the company’s press center informs. In the reported period, transshipment of export cargo totaled 1.849 million tonnes (+8%), import - 410,900 tonnes (-54%), coastal ...
The export duty on Russian crude oil will rise to $ 222 a tonne on August 1, a Finance Ministry official said according to Interfax. The new duty is based on an average price of $65.65142 per barrel of Russian crude for the period June 15-July 14 inclusive, Alexander Sakovich, the ministry's deputy head of custom...
Ulstein Verft has won the contract with GIEK and Sparebank 1 SR-bank to complete the construction of a large anchor handling vessel for Solstad. The newbuilding comes from the bankrupt Karmsund Maritime Service AS and is an important component in filling up Ulstein Verft’s production capacity. “Solstad was an important customer for Ulstein f...
Kawasaki Heavy Industries' shipbuilding venture in China will delay operations of a second dock in Dalian by three years in the light of the current economic climate. The second dock, originally slated for operations in early 2012, may be postponed until 2015, said Yusuke Kamada, a spokesman at Kobe, Japan-based Kawasaki . The Dalian yard is be...
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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