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...]
World’s Biggest Floating LNG Terminal Sails to Turkey to Prevent Repeat of Shortage
By Anna Shiryaevskaya (Bloomberg) -- Turkey is getting a giant helper to avoid last December’s gas shortages. The world’s biggest specialized vessel to import liquefied natural gas, a cheaper and quicker solution than a land-based facility, is on its way to help with imports of the fuel mainly used for heating and power generation. The MOL FSRU Challenger, as long … [Read more...]
Cargo Ship Splits in Two Off Turkey – VIDEO
A 40-year-old general cargo ship broke in two in the Black Sea off Turkey on Sunday. All 11 crew members were rescued by Turkish authorities and are reported safe. The 114-meter Mongolian-flagged MV Leonardo started buckling and broke in two while at anchor off Istanbul's Kilyos coast. The forward half of ship was towed to shore by tugboats, while the aft began … [Read more...]