By Jason Scott (Bloomberg) Australian Prime Minister Malcolm Turnbull said his nation is aiming to break into the Top 10 of global defense exporters and is creating a A$3.8 billion ($3.1 billion) fund to help boost shipments. “A strong, exporting defense industry in Australia will provide greater certainty of investment,” Turnbull said in a statement. “It is an ambitious, … [Read more...]
Indian State Oil Refiners Look To Boost Domestic Shipping
By Nidhi Verma (Reuters) - Two of India’s state-owned oil refiners have issued tenders seeking to charter tankers for at least five years while giving preference to Indian companies, tender documents reviewed by Reuters showed, which would boost domestic shipping firms battered by slumping tanker rates. India’s Ministry of Shipping asked the refiners to issue long-term crude … [Read more...]
U.K. To Build Cut-Price Warships
By Thomas Seal (Bloomberg) Britain will go ahead with the construction of a new generation of cut-price, multipurpose warships as it seeks to spur naval exports. The Type 31e frigate has a price capped at 250 million pounds ($325 million) for the first five vessels to be produced for the Royal Navy. That compares with a bill of up to 1 billion pounds apiece, including some … [Read more...]
Britain To Build Five Navy Frigates To Boost Domestic Shipbuilding
LONDON (Reuters) - Britain will buy five new frigates as part of a new shipbuilding strategy aimed at boosting the navy and exports following decades of decline in the sector, the defence ministry said on Wednesday. Each of the first batch of ships will cost no more than 250 million pounds and will be built in Britain, the government said. The first ships are planned to … [Read more...]
Australia Wants Exports With $68 Billion Naval Investment
By Jason Scott (Bloomberg) Australia wants more from its $68 billion investment in new ships and submarines than just a more capable navy. With final bids due this month on a A$35 billion ($27 billion) contract for nine Royal Australian Navy anti-submarine frigates, Defence Industry Minister Christopher Pyne said Australia is seeking a bigger role in naval … [Read more...]