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Cbi News

30 Oct 2018

EnBW Launched Green Bond

German utility EnBW Energie Baden-Württemberg AG  has launched its first green bond on the capital market, with an issue size of €500m ($570.8m), which was oversubscribed within hours, the energy company said in a press release.The bond issue, with a 15-year term to maturity, was oversubscribed within hours. The coupon is 1.875 percent.In contrast to conventional corporate bonds, the proceeds from a green bond must be used exclusively to fund climate-friendly projects. EnBW is among the first German companies to have launched a green bond of this size. Increasing numbers of institutional investors now prefer sustainable investments.“The transformation of our company towards renewable energies and smart infrastructure solutions is a core element of our strategy,” said CFO Thomas Kusterer.

12 Oct 2016

South Korean Yards Eyed for $3.8 Bln LNG Shipbuilding Deal

A little-known investment company said it intends to order up to 20 liquefied natural gas (LNG) carriers, probably from South Korean shipbuilders. The contracts would be worth as much as $3.8 billion, two people with direct knowledge of the matter told Reuters. CBI Energy and Chemical, which is controlled by Australian and Canadian investors and has offices in Hong Kong, also said in a statement to Reuters that it would be seeking to buy floating LNG production and import facilities as part of an ambitious plan for Africa and Asia. The orders would be a major shot in the arm for South Korea's ailing shipbuilding industry, which has been hit by a collapse in new orders as global trade growth slows and after the slump in commodities prices in recent years.

12 Oct 2016

LNG Newcomer Mulls $3.8 billion 20-Vessel Order

According to Reuters CBI Energy and Chemical (CB&I), a little known investment firm, plans to order up to 20 LNG carriers, in a deal worth up to US$3.8 billion – a  huge prospect to South Korea’s beleaguered shipbuilding sector and a massive boost to the global LNG carrier fleet. CB&I, which is controlled by Australian and Canadian investors and has offices in Hong Kong, also disclosed in a statement to Reuters that it would be seeking to buy floating LNG production and import facilities as part of an ambitious plan for Africa and Asia. The orders would be a major shot in the arm for South Korea's ailing shipbuilding industry, which has been hit by a collapse in new orders as global trade growth slows and after the slump in commodities prices in recent years.

19 Oct 2015

No kickbacks in Scorpene Submarine Deal, Says Indian Government

No kickbacks were paid in connection with the purchase of Scorpene submarines for the Indian Navy in 2005 from French company Thales the government has told the Delhi High Court, reports PTI. Indian government was responding to a PIL, filed by NGO Centre for Public Interest Litigation (CPIL) in 2006, which alleged inaction on the part of the Central Bureau of Investigation (CBI) in investigating allegations regarding the deal. The central government standing counsel Jasmeet Singh said there was nothing wrong with the Rs 19,000 crore deal. Appearing for the NGO, advocate Prashant Bhushan said a copy of CBI's preliminary enquiry report has not been provided to CPIL on the ground that it contains sensitive information received from Interpol.

06 Jun 2015

Kandla Port: Scam and Corporatisation

Anti-Corruption Bureau in the state of Gujarat has ordered by a Kutch court to probe the alleged multi-million rupee scam in Kandla Port Turst (KPT), has filed a revision petition saying the case be handed over to a national agency like CBI instead, reports PTI. “Gandhidham unit of ACB filed a revision plea before the sessions court yesterday and challenged the magistrate’s order to probe the scam. We have demanded that the case should be probed by a national agency, probably CBI, and we certainly cannot do it as the Trust comes under the Union Government” police inspector C J Sureja of ACB said. The sources in KPT as well as the Ministry of Shipping said that options are being evaluated with regards to what action can be taken against the official who has come under scrutiny.

31 Aug 2014

Indian Investigators Drop Case Against Billionaire Birla

India's Central Bureau of Investigation (CBI) has closed a coal scam case against billionaire Kumar Mangalam Birla and a former top bureaucrat that emerged in 2012 after an auditor's report on revenue loss to the exchequer from allocations of coal blocks. The CBI filed the case against Birla and former Coal Secretary P.C. Parakh last year in relation to a block allocated in 2005 to Hindalco Industries, part of the $40 billion Aditya Birla Groupled by Kumar Mangalam Birla. "The evidence collected during investigation did not substantiate the allegations levelled against the persons named in the FIR (first information report filed in the case)," the CBI said in a statement late on Friday.

27 Aug 2014

Neeraj Bansal Appointed Deputy Chairman of JNPT

The Government of India has appointed Neeraj Bansal as Deputy Chairman of India's largest container port,  Jawaharlal Nehru Port Trust with immediate effect. Mr Neeraj Bansal is an Officer of Indian Revenue Servie with around twenty years of experience across the country in Direct Tax Administration, Investigation, Tax-payer Service, Vigilance, Legal & Co-ordination. * LL.B. * Wide administrative experience in the general managerial capacity in handling the Legal, Personnel, Co-ordination, Vigilance, Administrative matters of more than 5000 Officers and Staff members of Income-tax Department, Mumbai in a highly unionized environment. * Vast experience in handling legal issues such as, Vodafone case and Scam cases of Harshad Mehta before Hon’ble Supreme Court, Bombay High Court etc.

20 Aug 2014

Water Monitoring to Continue at Western Gulf Ports

Photo: CBI

A water monitoring network that helps keep port traffic moving is the responsibility of the Conrad Blucher Institute (CBI) for Surveying and Science at Texas A&M University-Corpus Christi. CBI, in partnership with Woods Hole Oceanographic Institution in Massachusetts, has received the federal contract from the National Oceanic and Atmospheric Administration to continue to operate and maintain the water level and ocean monitoring network along the Western Gulf of Mexico. CBI, as a subcontractor, will operate in the Houston/Galveston and Lake Charles, La.

13 Aug 2014

Woods Hole Group Clinches Multi-Year O&M Contract

Woods Hole Group will be working with the National Oceanic and Atmospheric Administration, Center for Operational Oceanographic Products and Services for the operation and maintenance of Physical Oceanographic Real Time System along the East Coast of the USA, and along the Gulf of Mexico coast in Texas and Louisiana. NOAA PORTS® is a network of sensors in ports and harbors providing access to information improving maritime commerce and safety. * Houston-Galveston, TX (http://tidesandcurrents.noaa.gov/ports/index.html?port=hg) Woods Hole Group also was awarded the five year Operation and Maintenance Contract to support four NOAA National Water Level Observation Network (NWLON) stations in Texas.

17 Jun 2013

BAE's New Chairman Designate Joins the Board

Sir Roger Carr; Photo credit BAE

Sir Roger Carr will join the Board as a non-executive director & Chairman designate on 1 October 2013 and will succeed Dick Olver as Chairman in the first quarter 2014, following a transition period. Sir Roger, 66, is currently Chairman of Centrica plc and was until recently President of the CBI, the UK’s main business lobbying group. He is also Deputy Chairman and Senior Independent Director of the Court of the Bank of England and a member of the UK Prime Minister’s Business Advisory Group. He will step down as Chairman of Centrica on or before the Centrica AGM in 2014.

17 Jan 2013

Mobile App Boosts Navigation Safety

image illustrating depths of Houston / Galveston Ship Channel

Conrad Blucher Institute Develops Mobile App to Increase Navigational Safety along Nation’s Second-Largest Port. Researchers have designed and are implementing a new mobile application to provide ship captains and pilots with real-time predictions of ocean water levels and currents along the Houston Ship Channel, which services the second-largest port in the United States, the ports of Houston and Galveston. The app will provide invaluable information, which could increase navigational…

17 May 2012

Iran, Sanctions & You

The primary focus of last year’s annual update, which appeared in the April 2011 issue, was U.S. efforts to tighten economic sanctions against Iran. Over the past year, U.S. pressure on Iran has intensified. Syria also has been a target of new U.S. sanctions, while the sanctions against Libya imposed in early 2011 have been eliminated for all practical purposes by a series of general licenses. Our 2012 update concentrates on these key U.S. developments, but readers should be aware that these were not the only recent changes to U.S. and international sanctions programs.

20 Dec 2009

Alexander Chairs Port of London Authority

Photo courtesy Port of London

The UK Secretary of State for Transport, Lord Adonis, has appointed Helen Alexander, CBE, as Chairman of the Board of the Port of London Authority (PLA), with effect from 1 January 2010. She will succeed Simon Sherrard, who has been PLA Chairman since 2001. Helen Alexander is president of the CBI and has been a non-executive director of the PLA since June this year. She is also Chairman of Incisive Media, and a non-executive director of Rolls Royce plc and Centrica plc.