As per a senior industry official, Ukraine could potentially lose $6 billion in grain revenues following a blockade by the Russian navy preventing it from selling millions of tons of corn and wheat that it had earmarked for exports by… Read More ›
navy
Israel submarine development deal with Germany’s Thyssenkrupp Marine Systems for $3.4 billion
In a statement on Thursday, Israel’s Defense Ministry said, it has signed an agreement with Germany’s Thyssenkrupp Marine Systems to develop and produce three advanced submarines for its Navy in a deal worth $3.4 billion (3 billion euros). The two… Read More ›
Rolls Royce pauses Bergen Engines sale to Russia’s TMH Group controlled company
In a statement British engine maker Rolls-Royce said, it had paused the planned sale of its Bergen Engines to a company controlled by Russia’s TMH Group after an intervention by Norway. Norway’s NSM security agency is assessing the $178 million… Read More ›
Iranian Revolutionary Guards Corps seizes South Korean flagged tanker
According to a report from the Iranian media, Iran’s Revolutionary Guards Corps has seized a South Korean-flagged tanker in Gulf waters and has detained its crew. The development comes in the wake of South Korean banks freezing Iranian funds following… Read More ›
Australia signs $35.5 billion contract with France’s Naval Group for a fleet of 12 submarines
The development assumes significance since the deal is part of Australia’s plan to secure its trade interests in the strategic Asia-Pacific region. On Monday, Australia signed a production contract with French shipbuilder Naval Group for a fleet of twelve new… Read More ›
China deepens grip on Sri Lankan economy with a loan of $300 million
Sri Lanka is struggling to repay its foreign debt which is at a record $5.9 billion. The current amount of $300 million can be expanded to $1 billion. On Tuesday, in a move that deepens China’s grip on the island… Read More ›
Exxon Mobil halts oil survey survey over confrontation with Venezuela’s navy
Home of the world’s biggest crude oil reserves, production of crude oil in Venezuela, a OPEC member, has reached its lowest levels in 70 years. Guyana’s Foreign Affairs Minister Carl Greenidge stated, the government is “in discussion” with Exxon Mobil… Read More ›
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