Batista Shipbuilder Proposes 25-Year Payback Plan
OSX Brasil SA, the troubled shipbuilder controlled by former Brazilian billionaire Eike Batista, proposed a 25-year plan to pay back creditors to a Rio de Janeiro bankruptcy court, the company said on Friday in a statement. The proposal includes an initial three-year relief period before OSX would have to start making the payments. The shipbuilder also said it could seek to secure additional financing and make changes to its shareholding structure.
Ukrainian Formin Wants Tougher Sanctions On Russia
The West should impose tougher sanctions on Russia, which is waging a "hidden war" in eastern Ukraine, Ukraine's acting Foreign Minister Andriy Deshchytsia said in an interview with German newspaper Die Welt. The United States and the European Union have already imposed several rounds of sanctions on Russian individuals and some companies, accusing Russian President Vladimir Putin of stoking the eastern rebellions, a charge Putin has denied.
Senators Murray, Cantwell Secure Wins for Ports of Seattle, Tacoma
U.S. Senators Patty Murray (D-WA) and Maria Cantwell (D-WA) yesterday announced that a critical provision they authored to reform the Harbor Maintenance Trust Fund (HMTF) and significantly benefit the Ports of Seattle and Tacoma was included in the bipartisan, bicameral deal on the Water Resources Reform and Development Act (WRRDA) released in the afternoon. As “donor ports,” the Ports of Seattle and…
Kiel Canal Port Plan lock chamber closures at Kiel-Holtenau
The Kiel Canal Authority has announced that the Big South Lock Chamber at Kiel-Holtenau will be out of service between 07:00 and 17:00 hours from Tuesday 20 May until Thursday 22 May. During the closure times, the Big North Lock Chamber and the Small North Lock Chamber will remain in service. Further temporary closures are scheduled during week 23. Exact times will be announced separately. firstname.lastname@example.org)
Bangladesh Prepares To Find More Bodies In Capsized Ferry
Rescue workers in Bangladesh expected to find scores of bodies on Saturday trapped between the decks of river ferry that capsized two days earlier with around 200 people on board.
Intermarine To Add 15 New Vessels
As part of its ongoing commitment to provide the highest level of service to its heavy lift and project cargo customers, Intermarine, LLC (Intermarine) is adding 15 new vessels to their fleet. “We are launching our fleet renewal program with long term charters on a series of new vessels from Sanfu Shipyard & Huanghai, two of the foremost builders of ships in China. These state-of-the-art, fuel-efficient…
Threat of tugboat strike looms large at Port Hedland
Tugboat workers at Port Hedland have voted in favour of the option of staging 24 hour, 28 hour and seven-day strikes in support of their demands for improved work conditions. The strikes are not certain, but the permission gained this week is only valid for only 30 days. The threat of strikes on the Port Hedland tugboats is not confined to the deckhands, with two other classes of tugboat workers -engineers and masters - also inching towards strike action.
Petronet achieves highest turnover at Rs 37,748 crores
Petronet LNG Ltd, the nation's biggest importer of gas, reported yesterday its highest turnover at Rs 37,748 crores for the year ended March 31, 2014 and net profit at Rs 712 crores. During the year the Dahej terminal processed 489 TBTUs depicting a capacity utilisation of 96%. Kochi terminal was commissioned during the year and processed only 4.50 TBTUs of LNG serving two consumers in the vicinity of the terminal – the BPCL refinery and FACT. natural gas demand in the Country.