Greek Naval And Turkish Cargo Ship Collide

by Michele Kambas (Reuters) - A Greek gunboat was nudged by a Turkish cargo vessel early on Friday while on patrol for unauthorized migrant crossings in the Aegean Sea, the Greek navy said. The gunboat “Armatolos” was on patrol off the island of Lesbos as part of a NATO operation when the incident occurred at 4 a.m. local time (0100 GMT).  The Turkish-flagged vessel … [Read more...]

Danish DFDS To Buy Turkish U.N. Ro-Ro in $1.2 billion deal

by Teis Jensen (Reuters) - Danish shipping and logistics company DFDS has agreed to buy Turkish freight shipping operator U.N. Ro-Ro from Turkish private equity firms Actera Group and Esas Holdings for 950 million euros ($1.17 billion) on a debt-free basis. It marks a change of course for the Turkish company, which had planned an initial public offering for up to 57.7 … [Read more...]

Cyprus to Pursue Exploratory Drilling in Mediterranean Amid Standoff with Turkey

ATHENS, Feb 21 (Reuters) - Cyprus said on Wednesday it would press ahead with oil and gas exploration, signalling resolve in a standoff with Turkey over access to potential energy riches after Ankara extended military exercises in the eastern Mediterranean to early March. Cyprus has accused Turkey of obstructing a drill ship exploring for natural gas off the ethnically-split … [Read more...]

Turkey Reveals Route for New Canal to Ease Bosphorus Shipping

By Ali Kucukgocmen ISTANBUL, Jan 15 (Reuters) - Turkey announced on Monday the route for a planned canal that would reduce shipping traffic on the busy Bosphorus Strait and transform the European half of Istanbul into an island. Work on the 45-km (28-mile) Kanal Istanbul, linking the Black Sea and the Sea of Marmara west of the Bosphorus, will begin this year, Transport … [Read more...]