The Indian government will offload a stake of about 5% in shipbuilder Cochin Shipyard COCH.NS, an exchange filing showed on Tuesday.The floor price for the sale is 1,540 rupees, an 8% discount to the stock's Tuesday close, the filing showed. At this price, the stake is valued at 20.26 billion rupees ($241.2 million).The base size of the offer will be 2.5%, amounting to about 6.
A rare cruise by two German warships in the Indo-Pacific region will demonstrate a commitment to open navigation, the admiral in charge of the naval task force said on Friday, but he declined to confirm if they would transit the contested Taiwan Strait."Safe and secure sea lanes, especially from Southeast Asia as well as to Europe and America
A ship operated by Russian shipping group Sovcomflot rescued the crew of a tanker taking in water off Yemen's coast this week, the state-owned company, which is under Western sanctions, said on Wednesday.Sovcomflot tanker NS Africa was sailing southeast of the port of Nishtun in southern Yemen on June 23 when it responded to a distress call by the Lavant tanker whose crew had abandoned ship and
India's ship certification agency has withdrawn safety cover issued to Russian oil tankers that have been placed under U.S. sanctions, according to its website, with the vessels instead turning to a domestic provider.Major insurers and ship engine makers have already withdrawn cover for Russia's tanker fleet
Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has launched the masterplan for THE RIG – a world-first adventure tourism destination to be built on an offshore platform in the Arabian Gulf.The vision for THE RIG project is to redefine the sea sports and leisure experience while celebrating the legacy of Saudi Arabia's rich oil and gas heritage.
Anemoi Marine Technologies completed the installation of five Rotor Sails onboard the 400,000 dwt Very Large Ore Carrier (VLOC), Sohar Max, making it the largest vessel to receive wind propulsion technology to date. Sohar Max is a first generation Valemax, built in 2012 in China’s Rongsheng shipyard, and is a project that showcased collaboration between Brazilian mining giant Vale S.A.
NS United Kaiun Kaisha (NSU) and Vale have reached an agreement to install rotor sails from Anemoi Marine Technologies on 400,000dwt-type very large ore carrier (VLOC).The VLOC NSU TUBARAO has been engaged in a long-term transportation contract between NSU and Vale since its delivery in September 2020.
Britain has imposed sanctions on 18 further Russian oil tankers and four liquefied natural gas vessels, the largest batch of sanctions to date against the country's so-called "shadow fleet," the government said on Thursday.Britain says the 'shadow fleet' uses illicit practices to avoid Western restrictions on Russian oil.
An oil tanker managed by an Azerbaijan-based firm is travelling the Northern Sea Route to China for the first time, taking a route so far dominated by vessels managed by Russian shipping giant Sovcomflot, according to LSEG data and two traders.The vessel Prisma is managed by a private company Vista Vvave Shipmanagement based in Azerbaijan, one of the traders said, citing the vessel's documents.
Two German warships await orders from Berlin, their commander said, to determine whether next month they will be the first German naval vessels in decades to pass through the Taiwan Strait, drawing a rebuke from Beijing.While the U.S. and other nations, including Canada, have sent warships through the narrow strait in recent weeks
A replica Viking ship has berthed in Montenegro's Adriatic port of Bar on a years-long trip through European waters inspired by the Norse seafarers who set out from Scandinavia to explore, trade and conquer a millennium ago.The ship, Saga Farmann, is a full-size archaeological reconstruction of a 10th-century Viking cargo vessel, or knarr, made from oak and pine
ABS Wavesight, the ABS-affiliated software-as-a-service company, launched the latest module of Nautical Systems (NS) - Web, the web-based version of its flagship NS platform. Building on the foundation of the on-premise Nautical Systems software, NS - Web delivers the features and functionality required for modern fleet management, enhanced with the flexibility, accessibility