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Russia News

12 Apr 2021

Sovcomflot Ready to Buy Back up to $400 Mln of Eurobond-2023

(Photo: Sovcomflot)

Russia's biggest shipping company Sovcomflot says, according to Interfax news agency:The company is ready to buy back up to $400 million of Eurobond-2023, to finance it via new issue;The offer price is $1,072.25 per paper of a nominal price of $1,000;Sovcomflot plans to issue 7-year Eurobond, will hold calls with investors starting from April 14, Interfax cites a source.(Reporting by Moscow Newsroom)

09 Apr 2021

US to Send Two Warships to the Black Sea

(Photo: U.S. Navy)

The United States will send two warships to the Black Sea next week, Turkey said on Friday as Russia, which has beefed up its military forces near Ukraine, accused non-coastal NATO powers of increasing naval activity in the region.Washington says Russia has amassed more troops on Ukraine’s eastern border than at any time since 2014, when it annexed Crimea from Ukraine and backed pro-Russian separatists in the eastern Donbass region of Ukraine.Violence has flared between Ukrainian troops and the separatists, spurring fears of a major escalation.

09 Apr 2021

China is Paying a High Price for Its Ban on Australian Coal

© chungking / Adobe Stock

China is paying a high price for its unofficial ban on coal imports from Australia, with the cost of domestic and alternative foreign supplies rising for both thermal and coking grades of the fuel.China, the world’s biggest importer, producer and consumer of coal, has effectively ended imports from Australia, the biggest shipper of coking coal used to make steel and number two in thermal coal used to produce electricity, as part of an ongoing political dispute between the two nations.The restrictions on imports from Australia came into effect in the second half of last year…

09 Apr 2021

Stena Livia Joins the Baltic Sea Fleet

Photographer: Mild Design/Stena Line

The 186-meter Visentini RoPax vessel Stena Livia will initially join sister vessel Stena Flavia on the Nynäshamn-Ventspils route from mid-April, Stena Line announced. Later this year the pair will replace the existing tonnage on the ferry route between Travemünde and Liepaja, adding 40% freight capacity and shorten the crossing time substantially.During 2021 Stena Line is expanding its Baltic Sea operations with modern and large RoPax vessels being added to the two ferry routes from Latvia to Sweden and Germany.

08 Apr 2021

Global Supply Lines Struggle to Clear Container Backlog After Suez Chaos

(Photo: Port of Rotterdam)

A backlog of container ships carrying consumer goods has grown in some key strategic ports after a near week-long blockage in the Suez Canal, adding to ongoing disruptions to global trade, industry sources say.Dozens of container ships were stuck when the 400-metre-long (430-yard) Ever Given ran aground in the canal on March 23, with specialist rescue teams taking almost a week to free the vessel.The suspension of sailings through the waterway left shipping companies - including container lines - with millions of dollars in extra costs…

05 Apr 2021

2021: A Year of Offshore Energy Potential

(File photo: BP)

After what has seemed like the longest year ever, the offshore energy sector is emerging from a position of strength, from the standpoint of both economics and sustainability. Between the lockdowns implemented to reduce COVID-19, which reduced energy demand, to the oil price war between state-backed producers, 2020 was an unprecedented storm that hit the American offshore energy market. Now, there are unmistakable signs of a recovery, and policy makers in Washington, D.C. should embrace the opportunity before us to for sustained economic…

02 Apr 2021

Nord Stream 2 Warns of Security Risks to Pipeline from Warships, Low-flying Planes

© Nord Stream 2 / Axel Schmidt

The consortium behind the construction of the Nord Stream 2 gas pipeline warned on Thursday about security risks to the project from warships and planes, as the link is nearing completion.The pipeline, aimed at bypassing Ukraine and doubling the capacity of the current Nord Stream undersea gas link from Russia to Germany, has been the focus of tensions between Moscow and Washington, which imposed sanctions against the project.Andrey Minin, a senior official at the Nord Stream 2 AG consortium…

02 Apr 2021

OPEC+ to Ease Output Cuts from May

Credit: Corona Borealis/AdobeStock

OPEC+ agreed on Thursday to gradually ease its oil output cuts from May, after the new U.S. administration called on Saudi Arabia to keep energy affordable for consumers.The group, which has implemented deep cuts since a pandemic-induced oil price collapse in 2020, agreed to ease production curbs by 350,000 barrels per day (bpd) in May, another 350,000 bpd in June and further 400,000 bpd or so in July.Iran's oil minister, Bijan Zanganeh, confirmed the group would boost output by a total of 1.1 million bpd by July.In addition…

01 Apr 2021

MSC Reaffirms Commitment to Avoid Arctic Shipping Routes

© Alexey Seafarer / Adobe Stock

Container shipping giant MSC Mediterranean Shipping Company doubled down on its position to avoid sending its vessels through the Northern Sea Route and urged others to follow suit, citing environmental concerns.“As a responsible company, this was an obvious decision for us,” said MSC CEO, Soren Toft. “MSC will not seek to cut through the melting ice of the Arctic to find a new route for commercial shipping, and I consider this a position the whole shipping industry must adopt.”Running from Murmansk near Russia’s border with Norway to the Bering Strait near Alaska…

01 Apr 2021

Merkel Ally Calls for Moratorium on Nord Stream 2 Construction

File photo: © Nord Stream 2 / Axel Schmidt

Germany's coordinator for transatlantic relations called on Wednesday for a moratorium on the construction of the Nord Stream 2 natural gas pipeline from Russia to Europe, breaking ranks with many in Chancellor Angela Merkel's government.The United States is opposed to the project, saying it increases Europe's reliance on Russian energy and U.S. President Joe Biden is dangling the threat of sanctions."The project is a serious obstacle for a new start in transatlantic relations…

31 Mar 2021

US Jobs from US Offshore Energy: A Goal 44 Years in the Making

© flyingrussian / Adobe Stock

I have a good friend named John Guste. He and his wife grew up in the same neighborhood as my wife, they all went to college together, and now our kids are friends. As a doctor, I’m sure he has little concern with the messy, yet mundane, intricacies of offshore energy and maritime policy. You can imagine my surprise then when one night while I was reading the Congressional Record from 1977—I’m a blast at parties—to see John’s grandfather testifying before the U.S. House of Representative’s Ad Hoc Select Committee on Outer Continental Shelf (OCS) issues.Mr.

29 Mar 2021

Suez Canal Shutdown Shows Value of Northern Sea Route, Russia Says

© vasilevich / Adobe Stock

Russia’s energy ministry said on Monday a stranded container ship blocking Egypt’s Suez Canal has highlighted the safety and sustainability of its Northern Sea Route (NSR) and Russian energy pipelines.These “are highly secure and hold competitive positions in terms of transportation costs as well as by reliability in comparison to alternative routes”, the ministry said.Russia expects cargoes to increase through the Northern Sea Route, an Arctic Ocean route to Asia which trims 4,000 nautical miles off the southern alternative via the Suez Canal.Volumes reached almost 33 million tonnes last year

29 Mar 2021

U.S. State Secretary: Completing Nord Stream 2 Pipeline Ultimately up to Builders

U.S. Secretary of State Antony Blinken (File Photo: State.gov)

U.S. Secretary of State Antony Blinken said in an interview broadcast on Sunday that it was ultimately up to those building the Nord Stream 2 natural gas pipeline whether to complete it despite opposition from Washington.On Wednesday, Blinken said he had told his German counterpart that U.S. sanctions against the pipeline from Russia to Germany were a real possibility and there was "no ambiguity" in American opposition to its construction.Because the pipeline would run from Russia to Germany under the Baltic Sea…

26 Mar 2021

Ever Given Salvors Weigh Time and Tide with Risk of Tip or Tear

(Photo: Suez Canal Authority)

The Dutch emergency response team hired to free the vast ship blocking the Suez canal has pulled off some dramatic recoveries, including lifting Russia’s Kursk nuclear submarine from the Barents Sea floor, but says this is one of the trickiest.Weighing 200,000 tonnes without cargo, the Ever Given is the heaviest vessel that Smit Salvage, a subsidiary of the Dutch marine services company Boskalis contracted in the rescue, has faced in its nearly 180-year history.With real-time emergency response crews across the globe…

25 Mar 2021

Ship Blocking Suez Canal Could Be Stuck for Weeks

(Photo: Suez Canal Authority)

A containership blocking the Suez Canal like a "beached whale" may take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday in a new setback for global trade.The 400-meter Ever Given, almost as long as the Empire State Building is high, is blocking transit in both directions through one of the world's busiest shipping channels for oil and grain and other trade linking Asia and Europe.The Suez Canal Authority (SCA) said eight tugs were working to move the vessel…

24 Mar 2021

First Crude Cargo from Guyana to India Sets Sail

Liza Destiny FPSO, Guyana's only offshore oil production facility (File photo: Hess Corp)

The first cargo from new oil producer Guyana to the world's third-largest crude importer, India, departed this month from a production facility off the South American nation's coast in a vessel chartered by trading firm Trafigura, data from Refinitiv Eikon showed on Tuesday.India has asked refiners to speed up the diversification of imports to cut their dependence on Middle Eastern crudes after OPEC+ this month decided to extend production cuts through April, two sources said.As OPEC's share in India's oil imports fell to historic lows between April 2020 and January 2021…

23 Mar 2021

Norway Blocks Rolls-Royce's Plan to Sell Bergen Engines to Russian Firm

(File image: Rolls-Royce)

Norway will block Rolls-Royce from selling a Norwegian maritime engine maker to a Russian company on national security grounds, its justice minister told parliament on Tuesday.Based on Norway’s west coast, and owned by Britain’s Rolls-Royce for more than 20 years, Bergen Engines supplies NATO member Norway’s navy as well as the global shipping industry.The blocking of the sale is a blow for Rolls-Royce, which is aiming to raise 2 billion pounds ($2.76 billion) from disposals by…

22 Mar 2021

Germany's Greens Promise to Scrap Nord Stream 2 Pipeline After Election

©Axel Schmidt/ Nord Stream 2

Germany's Greens have enshrined in their election programme plans to abolish the contested Nord Stream 2 pipeline to ship Russian gas to Europe's biggest economy, creating a hurdle to a potential alliance with the conservatives.Chancellor Angela Merkel's conservatives, who have backed the Nord Stream 2 pipeline opposed by the United States, are leading in polls ahead of September elections and are seen as most likely to seek a coalition with the ecologist Greens that are forecast to come second.Armin Laschet…

19 Mar 2021

U.S. Tells Firms Building Nord Stream 2 Pipeline to 'Immediately' Stop Work or Risk Sanctions

File photo: © Nord Stream 2 / Axel Schmidt

The U.S. State Department is tracking efforts to complete Russia's Nord Stream 2 natural gas pipeline and evaluating information on entities that appear to be involved, U.S. Secretary of State Antony Blinken said on Thursday."Any entity involved in the Nord Stream 2 pipeline risks U.S. sanctions and should immediately abandon work on the pipeline," Blinken said in a statement, adding the Biden administration is committed to complying with 2019 and 2020 legislation with regards to the pipeline and sanctions.Shortly after Blinken's statement…

17 Mar 2021

Carbon Emissions from Trawler Fishing on Par with Aviation -Report

© Andrei Stepanov / Adobe Stock

Trawling of the ocean floor by fishing fleets releases roughly the same amount of carbon emissions into the water as aviation puts into the atmosphere each year, researchers said on Wednesday, calling for greater protection of the planet's seas.In a study published in the journal Nature, a team of 26 scientists and conservationists said marine protected areas (MPAs) are an effective tool for restoring biodiversity, expanding seafood supplies and storing climate-heating carbon.But at present…

16 Mar 2021

Reuters: Germany Bets U.S. Will Make the Best of 'Bad deal' Nord Stream Pipeline

© Nord Stream 2 / Axel Schmidt

Germany is betting the U.S. administration will take a pragmatic approach to the Nord Stream 2 project to ship Russian gas to Europe and is pushing for the pipeline’s completion in defiance of U.S. opposition, officials and diplomats said.To try to block the $11 billion project, led by Russia’s Gazprom, successive U.S. administrations have imposed sanctions on some entities and warned other companies involved in the project about the sanctions risk.President Joe Biden thinks the pipeline under the Baltic Sea to Germany is “a bad idea for Europe…

12 Mar 2021

Two Die, Ten Rescued as Russian Cargo Ship Sinks in Black Sea, Off Romania

Volgo Balt 179 / Image by Dmitry Frolov - MarineTraffic.com

Two people died and ten were rescued after the Russian cargo ship Volgo Balt 179 sank in the Black Sea off Romania early morning on Thursday, according to reports from Romania.Romanian offshore services company GSP Offshore said that its GSP Falcon offshore vessel had received a distress call from the cargo ship at 4:40 in the morning.GSP said that the rescue operation started in extremely difficult weather conditions with strong wind and high waves."The last message sent by "Volgo Balt 179" was the abandonment of the ship. So far, 10 sailors have been rescued.

09 Mar 2021

Norway Suspends Rolls-Royce Asset Sale on Security Grounds

Bergen Engines plant in Hordvikneset near Bergen, Norway (Photo: Rolls-Royce)

Norway has suspended the sale of a Norwegian engine maker owned by Rolls-Royce Holdings to a Russian-controlled company while it assesses the security implications for the country’s navy and the civilian sector, the government said on Tuesday.Norway’s NSM security agency is assessing the 150 million-euro ($178 million) sale announced on Feb. 4 of Bergen Engines to a company controlled by Russia’s TMH Group, NSM and the justice ministry said.Britain’s Rolls-Royce said it was selling…