AMT Explorer loaded with cables. Photo courtesy Global Marine Systems/Flickr
While loaded with a USD $38 million cargo of power cables destined for the North Sea, the 1984-built cable barge AMT Explorer capsized and sank on 3 July while approximately 50 miles southwest of Sardinia.
The cargo is owned by cable manufacturer Prysmian and according to a statement released by the company, destined to connect the TenneT-operated Butendiek and Deutsche Bucht wind farms offshore Germany.
Prysmian notes that Smit Salvage has been contracted to conduct the vessel and cargo salvage.
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Sellers of Iranian oil to China are offering deeper discounts this month as they look to reduce inventories and as independent refiners slow their buying due to a jump in crude prices, traders and analysts said.
The firm building what will become the largest port in India plans to raise as much as 300 billion rupees ($3.5 billion) of debt, giving lenders an opportunity to invest in one of the cornerstones of Prime Minister Narendra Modi’s infrastructure overhaul.
China’s largest shipping company is among the firms in talks to invest in a multinational consortium seeking to buy billionaire Li Ka-shing’s global ports, according to people familiar with the matter, in an effort to ease Beijing’s concerns over the controversial deal.
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