Inside Trade: From Energy to Food, China-Russia Trade has Surged in Recent Years
China and Russia have grown increasingly close in recent years, including as trading partners, a relationship that brings both opportunities and risks as Russia reels from tough new sanctions led by the West in response to its invasion of Ukraine.Total trade between China and Russia jumped 35.9% last year to a record $146.9 billion, according to Chinese customs data, with Russia serving as a major source of oil, gas, coal and agriculture commodities, running a trade surplus with China.Since sanctions were imposed in 2014 after Russia annexed Ukraine's Crimea…
Video Interview: Dominicana Caribbean Shipyards Opens
Last month Ciramar Shipyards signed a strategic alliance with Fassmer Technical Projects to build and repair ships in the Dominican Republic under the Dominicana Caribbean Shipyards name.“There’s been a need for a long time for a new shipyard to rise within the Caribbean region and the Americas in general, to be able to professionally service various ship types that transit the area,” said Craig R. Gundry, GM, Fassmer Technical Projects. “Luis and I came together a number of years ago and started a relationship working with each other in different ways.
Dominicana Caribbean Shipyards, the New Face in Caribbean Shipbuilding and Repair
Ciramar Shipyards and Fassmer Technical Projects ink a deal to Create Dominicana Caribbean ShipyardsCiramar Shipyards signed a strategic alliance with Fassmer Technical Projects that establishes the basis for cooperation in various areas, including design and construction of new ships and multipurpose vessels manufactured in the Dominican Republic. The scope of the deal also includes maintenance, manufacture and local marketing of mechanical products, including propellers, stabilization and steering systems…
Interview: John Batten, CEO, Twin Disc
How have major events such as the U.S./China trade war, oil price fall and COVID-19 impacted Twin Disc’s commercial marine business to date, and what adjustments have you made in response?These are the three things that I’ve been highlighting in employee communications and with investors over the last few months. For us, COVID was just the third punch after the other two. China is typically our second largest market after the U.S., and we lost lots of orders to our competitors as the trade war started to affect us. It’s rebounding a little, but it definitely impacted our sales into China.
Shipbuilders Fincantieri, Cochin Partner in Indian Defense Market
Italian based international shipbuilding group Fincantieri said it has signed a memorandum of understanding (MoU) with Indian shipbuilder Cochin Shipyard Limited (CSL) to jointly target opportunities in the Indian defense market.With this agreement, Fincantieri said it enhances its presence in India, providing further momentum to the long-standing partnership with the governmental group CSL, which owns facilities both on the East and West coast of India.Fincantieri also noted it has been following the renewal and expansion program of the Indian Navy’s fleet for some time…
Wesmar - Pacific Marine Expo
Wesmar will reveal their line of sonar and mechanical products at the Pacific Marine Expo in Seattle, November 20-22. This year in booth #935, Wesmar will be introducing the new HD850 Fishing Sonar. This sonar features active stabilization and more information at greater clarity with smart scan, stabilized down sounder as well as searchlight advantage. Along with the HD850, Wesmar will be displaying a complete line of sonar systems for Trawl and Navigation. Wesmar will also be exhibiting Bow and Stern Thrusters, Roll Stabilizers, Custom Hydraulic Systems, APU Systems, Windlass, and Proportional Controls. (www.wesmar.com)
Fincantieri Forms New Company in U.S.
Italian shipbuilding powerhouse Fincantieri has formed a new company, Fincantieri Marine Systems North America, Inc. FDGM, Inc., the U.S.-based subsidiary of Fincantieri, will be absorbed by this new company. The establishment of this new company is part of the vision of the Fincantieri CEO Giuseppe Bono to enlarge its presence in the global maritime market. Drawing on the vast resources of the parent company and forming strategic partnerships with other U.S. companies, Fincantieri Marine Systems North America, Inc. is uniquely qualified to provide fully engineered and integrated propulsion systems and machinery plant solutions to the U.S. shipbuilding industry for naval and commercial vessels. Service to the U.S.
