Denmark's A.P. Moller-Maersk said its four subsidiaries with activities in Russia continue to operate as planned despite the recent sharp drop in oil price and the rouble's collapse. "The Group's business with Russia amounts to some two to three percent of our total revenue. In the current situation, where Russian purchasing power and foreign trade is negatively impacted, our shipping business in Russia is also affected," A.P. Moller-Maersk wrote in an mail to Reuters. World's largest container shipping company Maersk Line, port operator APM Terminals, logistic company Damco and the world's biggest tugboat operator Svitzer are all active in Russia. Fears of a full-blown Russian crisis are leading investors to build up negative bets on European companies exposed to the country, such as brewer Carlsberg or Finnish tire-maker Nokian Renkaat. A.P. Moller-Maersk acquired 37.5 percent of the Russian port operator Global Ports in September 2012 in a transaction that valued the port operator at approximately $2.3 billion. Global Port's London-listed shares have dropped by 73 percent since the transaction. (Reporting by Ole Mikkelsen, editing by Terje Solsvik)
The prospect of Russia’s two largest container terminal operators joining forces has raised concerns over the dominant position that the combined enterprise would enjoy were the deal to be agreed. Global Ports Investments (GPI), one of the two largest players in the Russian container port market, is investigating the acquisition of a controlling stake in National Container Company (NCC), the other dominant player in the Russian market.
The extreme weather now gripping the Eastern Baltic region is badly affecting all transport sectors, and bunker suppliers in the Russian port of St Petersburg are being hit as hard everybody else. Nevertheless vessels are still being supplied with fuel despite North West Russia's worst winter for 50 years, according to leading St Petersburg bunker company ECO Phoenix Holding. The very cold weather began in late December when night-time temperatures went as low as minus 33 degrees C
Reuters – Ukraine has said its navy's fleet of 10 warships in the Crimean port of Sevastopol had not left the port and remained loyal to the government in Kiev. Earlier, Ukraine said it had withdrawn coastguard vessels from Sevastopol and another Crimean port and stationed them elsewhere. Background Russian forces have seized Crimea, an isolated peninsula, where Russia 's Black Sea Fleet also has its headquarters
Often heralded as new shipping lane, Arctic shipments fall. Western sanctions on Russia are restricting the Arctic shipping route along its north coast to domestic cargoes and energy exports with many foreign firms staying away after test voyages on a fabled short-cut between Europe and Asia. A decline in foreign shipments on the Northern Sea Route (NSR) in 2014, interrupting gains in recent years as ice retreats
The Port of Hamburg handled total throughput of 35.6 million tons (up by 0.1 percent) in the first quarter of 2015. Bulk cargoes at 11.7 million tons (up by 12.3 percent) and container transport between the port and its hinterland at 602,000 TEU (up by 11.1 percent) were the strongest contributors to throughput growth. “We can be satisfied overall with the first-quarter trend in seaborne cargo throughput. Even if a slight 4
Reports indicate that Motor ship Diana that sent distress signals from the Sea of Japan has about 4,000 tons of cargo aboard. The ship, which flies the Cambodian flag and has an 18-strong Russian crew, has scrap metal in the holds and timber on the deck. The piles of timber have shifted and are partly hanging overboard, said Konstantin Sviridov, the chief of Maritime Salvage and Coordination Center in Vladivostok.
Port-on-Demand took care of training tall ship at every port of call. Port-on-Demand (POD), the newest service package offered by the global GAC network, has handled the tall ship STS Pallada at every port of call of her voyage to mark the 270th anniversary of Russia’s first settlements in North America and the 50th anniversary of cosmonaut Yuri Gagarin’s first space flight. The impressive 358-foot Russian frigate
Reuters - Ukraine said on Sunday its navy's fleet of 10 warships in the Crimean port of Sevastopol had not left the port and remained loyal to the government in Kiev. Earlier, Ukraine said it had withdrawn coastguard vessels from Sevastopol and another Crimean port and stationed them elsewhere. Ukraine withdrew its coast guard vessels from two ports in Crimea and moved them to other Black Sea bases on Sunday, a sign that Russian forces were completing their seizure of the isolated Black Sea
The second phase of the Russian-Chinese Joint Sea-2015 naval maneuvers has officially ended outside the port of Vladivostok in Russia’s Far East, says spokesman for the Eastern Military District Roman Martov. "Today, the exercise commanders from the Chinese and Russian sides announced in their joint headquarters the end of the Joint Sea-2015 (II) drills," he said in an official statement.
Russian President Vladimir Putin has taken a high-profile dive to the bottom of the Black Sea to explore an ancient shipwreck off Crimea in a submersible, in a stunt aimed at cementing his image as adventurer and control of the annexed territory, reports AFP.
The Damen Shipyards Group has delivered an ASD Tug 2810 ICE to Klasco Towage Assistance, an affiliate of Klaipeda Stevedoring Company (KLASCO). The largest tugboat service provider in the Port of Klaipeda (Lithuania), this is the company’s first purchase of a Damen tug
North Korean vessels owned by Ocean Maritime Management (OMM) have been seen using Russian ports, says the NK News vessel tracker. OMM was sanctioned for its involvement in smuggling weapons through the Panama Canal in 2013.
Russian Urals crude weakened in the Mediterranean and in the Baltic on Friday, while trading activity was limited ahead of a long holiday weekend in Britain, traders said. In the Platts window, Vitol sold an 80,000-tonne cargo of Urals from Novorossiisk on Sept
The procedure of renaming Open Joint Stock Company (OJSC) Gazprom into Public Joint Stock Company (PJSC) Gazprom has finished. The change in the Company's legal status is reflected in the new version of the Articles of Association approved by the annual General Shareholders Meeting on
A wrecked mini-submarine was found last week in waters off of Sweden’s eastern coast. Authorities believe it is a Russian model, primarily because of Cyrillic letters on the hull. They have not disclosed the exact location of the wreckage, but say it is around 1
Gazprom Group continues earmarking considerable funds for financing research and development (R&D) activities. In 2014 a record-breaking amount in the whole Company history – RUB 10.82 billion – was devoted to these purposes
China and Russia will hold joint naval and air defence drills in the Sea of Japan, China said on Thursday, the latest exercises between the two countries which could concern Japan, involved in a marine dispute with China to the south. The manoeuvres also come as the United States ramps up
Russia has submitted its bid for vast territories in the Arctic to the United Nations, AP reported as the Foreign Ministry saying. The ministry said in a statement that Russia is claiming 1.2 million square kilometres (over 463
The United States has added a Russian oil and gas field, the Yuzhno-Kirinskoye Field, to its list of energy sector sanctions prompted by Moscow's actions in Ukraine, drawing a prompt rebuke from the Kremlin on Friday. The federal government said on Thursday the field
Moroccan King Mohammed VI’s upcoming visit to Moscow by the end of 2015 is expected to conclude negotiations to obtain the country’s first submarine from Russia, says a report in World Tribune. Multiple Moroccan and Russian media reports said negotiations about the
Russia, led by President Vladimir Putin, has re-submitted its petition to the United Nations claiming exclusive control over 1.2 million square kms (463,000 square miles) of the Arctic sea shelf, based this time on what its foreign ministry calls “ample scientific data”
Royal Dutch Shell's plans to build a strategic alliance with Russia's Gazprom could be in jeopardy after the United States added one of Gazprom's biggest gas fields to its list of Russian sanctions on Friday. Shell and Gazprom signed an agreement in June to develop a strategic alliance in
Russian Urals crude weakened further on Monday in the Mediterranean and the Baltic under pressure from abundant supplies and as oil firms began to tender fresh September supplies. In the Platts window, Tenergy sold a cross-month Urals cargo in the Mediterranean to Eni at dated Brent minus
Dashing hopes of a quick recovery from the global trade recession earlier this year, world shipping has fallen into a deep slump over the late summer, says a report in the Telegraph. Commodity turmoil could blow the shipping industry off course.