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.
The U.S. government signaled in a court filing on Wednesday for the first time that it may file a claim against the owner of the ship that caused the March collapse of the Francis Scott Key Bridge in Baltimore.U.S. Justice Department attorney Laine Goodhue submitted a letter, opens new tab notifying U.S.
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India's ship certification agency has withdrawn safety cover issued to Russian oil tankers that have been placed under U.S. sanctions, according to its website, with the vessels instead turning to a domestic provider.Major insurers and ship engine makers have already withdrawn cover for Russia's tanker fleet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.
The U.S. on Thursday imposed sanctions on maritime companies and vessels for shipping Russian oil sold above the G7's price cap, as Washington seeks to close loopholes in the mechanism designed to punish Moscow for its war in Ukraine.The U.S. Treasury Department in a statement said it slapped sanctions on three United Arab Emirates-based companies and three vessels owned by them in the action
To start, will you please share your personal journey in the shipbuilding industry and what led you to your current role?Gladding-Hearn Shipbuilding Inc. was started by Preston Gladding and Richard Hearn in mid-1955. My father, George Duclos, joined them as a minority partner in late 1955, and for $900 owned 20% of the company.
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.
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
Indian refiners have resumed Venezuelan oil purchases through intermediaries, with Reliance RELI.NS set to meet executives from state firm PDVSA next week to discuss direct sales following the easing of U.S. sanctions on the South American country, people familiar with the matter said.