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CB might be predicting sharp slowdown in growth

The Central Bank’s (CB) monetary policy meeting held in the last week of July was one of the most important decision-making events of the recent period. The reason behind the significance of this meeting can be explained by a statement of Treasury and Finance Minister Berat Albayrak made prior to the meeting, stating that the government will not fight with markets but instead pursue a win-win relationship w ...

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YILPORT Holding submits offer for Taranto Container Terminal concession

YILPORT Holding has recently submitted an offer for the operation of port facilities in the port of Taranto, Italy. The Ionian Sea Port Authority (AdSP), the agency which runs the Port of Taranto has officially confirmed that it has received YILPORT Holding’s offer for operating the entire set of multi-purpose port facilities at the Port of Taranto. These terminals in Southern Italy handle container traffic ...

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Popular powerful Sanmar classes head abroad

As part of Ocean's 10-year concession agreement with the Port Authority of Jamaica (PAJ), the Canadian maritime company has purchased a 24m ASD tug from Turkish builder/operator Sanmar. Taken from Sanmar’s “as new” fleet the vessel, Bogacay IX has been renamed ‘Ocean Kingston Pride’ and will primarily operate in the Port of Kingston. It is one of Sanmar’s most popular classes with over 30 now in operation a ...

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Brodosplit signs new contracts with Italian Fincantieri

Serbia’s Brodosplit Shipyard and Italian group Fincantieri have signed two new contracts for the construction of fitted sections (grand blocks) for mega cruisers, which are currently being built in Italian shipyards. The first contract concerns the construction of sections over 1200 tons of steel equipped with pipe fitting and locksmith components as well as electrical routing with delivery deadline in the ...

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IMRF’s holds workshop on marine rescue in Kuala Lumpur

The International Maritime Rescue Federation (IMRF), a charity which was initially founded in 1924 as the International Lifeboat Federation to minimize loss of life at sea, has held a two-day conference on marine rescue. The event, called the Inter Regional Mass Rescue Workshop for the Asia Pacific Region was held on 10-11 July, as a side event of the 7.  International Search and Rescue Conference and Exhib ...

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Wärtsilä 34DF engine awarded EPA Tier III certification in diesel mode

The technology group Wärtsilä announced that its 34DF engine has been awarded the USA Environmental Protection Agency’s (EPA) Tier III certification for diesel mode operation when installed together with the Wärtsilä NOx Reducer (NOR) system. The Wärtsilä NOR is a selective catalytic reduction (SCR) system that converts nitrogen oxides (NOx) with the aid of a catalyst into diatomic nitrogen (N2) and water. ...

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Daewoo Shipbuilding wins deal for LNG carrier from Norway

Daewoo Shipbuilding & Marine Engineering Co., the world’s second-largest shipbuilder by orders, announced that it has received an order to build a liquefied natural gas carrier for a Norwegian shipping company. Daewoo Shipbuilding said it is set to deliver the carrier that can hold 173,400 cubic meters of LNG to Seatankers Management by 2020; but declined to disclose the contract price. The Korean shipb ...

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Hyundai Mipo wins USD 109 million container ship order in Africa

Hyundai Mipo Dockyard Co. announced that it has received a USD 109 million order to build four container carriers for an Africa-based company. Under the contract, Hyundai Mipo will build four container ships for a shipper in Liberia by March 31, 2020; the company said in a regulatory filing with the Financial Supervisory Service. Hyundai Mipo is an affiliate of Hyundai Heavy Industries Co., the world’s bigg ...

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Popular powerful Sanmar classes head abroad

As part of Ocean's 10-year concession agreement with the Port Authority of Jamaica (PAJ), the Canadian maritime company has purchased a 24m ASD tug from Turkish builder/operator Sanmar. Taken from Sanmar’s “as new” fleet the vessel, Bogacay IX has been renamed Ocean Kingston Pride and will primarily operate in the Port of Kingston. It is one of Sanmar’s most popular classes with over 30 now in operation aro ...

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Markets eye new economy team and new approach

Turkey has left behind what was perhaps the most important election in its history. While President Recep Tayyip Erdogan was elected president in the first round, the AK Party and the Nationalist Movement Party’s (MHP) People’s Alliance earned 343 seats in Parliament. While the People’s Alliance gained the majority of the seats in Parliament, the AK Party, which previously held the majority of parliamentary ...

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