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Azerbaijan's construction sector loan portfolio jumps 82% in nine months

Ukraine Proposes New Logistics Route Linking Azerbaijan to Europe

Strong transport links between the Black Sea and the Caspian Sea could create new opportunities for trade and energy supplies, with Ukraine proposing the development of logistics routes connecting Azerbaijan to European markets.

Russia and Iran Sign New Deal to Advance 162-Km Railway Project

Russia and Iran have signed key documents granting access to land plots along the planned route of the Rasht-Astara railway line, paving the way for further engineering work on the strategic transport project.

Russian Railways Offers 40.4% Discount on Exports Through Azerbaijan

Russian Railways (RZD) has introduced a 40.4% discount on export rail shipments of selected timber industry products through border crossings with Azerbaijan, Belarus and Kazakhstan.

Hazar Logistik, Gebrüder Weiss discuss cargo transit via Turkmenbashi port

DenAr takes on Turkey’s first offshore wind seabed survey campaign

Turkish marine survey specialist DenAr Ocean Engineering Services has been selected by the country’s Ministry of Energy and Natural Resources to carry out geophysical and geotechnical seabed investigations for Turkey’s first offshore wind development programme. The NCS-01 project covers two areas in the Sea of Marmara…

India’s HPCL Struggles to Secure Oil Tankers as Hormuz Risks Persist

Hindustan Petroleum Corporation Limited (HPCL), a major Indian state-owned refiner, is struggling to hire tankers to transit the Strait of Hormuz and pick up cargoes in the Gulf, chairman Vikas Kaushal has told Bloomberg. Despite the recovery of crude oil flows from the Gulf via Hormuz to nearly pre-war levels, buyers…

Venergy doubles VLCC order at Hengli

Greek shipowner Vyron Vasileiadis has firmed up another two VLCCs at China’s Hengli Heavy Industries, doubling Venergy Maritime’s debut supertanker order to four vessels. The Piraeus-based company exercised the options attached to its October contract for two firm 306,000 dwt crude carriers, with all four vessels sche…

Capital Tankers scores up to $82m suezmax fixture

Evangelos Marinakis-backed Capital Tankers has secured a 15-month charter for one of its modern suezmaxes in a deal expected to generate between $73.1m and $82.2m in revenue. The Oslo-listed tanker owner said on Friday that its 155,348 dwt Amor has been fixed to an unnamed global energy company, with employment starti…

Uzbekistan seeks to deepen railway cooperation with US-based Wabtec

China’s Carbon Emissions Plunge 3.1% as Oil Demand Slumps

A decline in fuel use in China’s industrial sector has led to a 3.1% decline in carbon dioxide emissions in the third quarter of the year, the Finnish climate outlet Centre for Research on Energy and Clean Air has reported, as cited by Reuters. The lower emissions from the world’s largest generator of CO2 resulted fro…

Oil Prices Head for 12% Weekly Loss Despite Fresh Tanker Attacks

Crude oil prices were on course for a sharp weekly drop, with both Brent crude and WTI shedding 12% since Monday, following the results of the U.S. midterm elections, which gave rise to hopes that the war in the Middle East could be brought to a swift end. At the time of writing, Brent crude was trading at $99.42 per …

Brazilian builds boat from rubbish to collect more rubbish

A former Brazilian ocean canoeing champion has taken recycling to a floating extreme, constructing a boat from 230 discarded plastic containers so he can collect even more rubbish from the sea. Marcos Arnhold spent two months building the unusual craft in Guaratuba, southern Brazil, using 125 two-litre plastic bottles…

Turkish, Iranian FMs Discuss Tehran-Washington Negotiations

Turkish Foreign Minister Hakan Fidan held a telephone conversation with his Iranian counterpart, Abbas Araghchi, Turkish diplomatic sources said on Thursday, The Caspian Post reports, citing Anadolu Agency.

US and Turkmenistan Explore New Gas Routes Across the Caspian

US and Turkmen diplomats focused on expanding trans-Caspian connectivity and promoting energy export diversification during annual consultations in Ashgabat. Turkmen officials are signaling a strong desire to improve trade ties with both South Asia and the West, while maintaining the country’s long-standing status as …

Russia, Iran Sign Several Documents for Key Railway Project

Russia and Iran have signed a package of documents related to the construction of the Rasht-Astara railway line, Russian Deputy Prime Minister Andrey Nikitin told journalists.

Russia Takes Temporary Control of Japan Tobacco’s Assets

Russian President Vladimir Putin has signed a decree transferring the stakes held by international tobacco company Japan Tobacco Inc. (JTI) in its Russian manufacturing facilities to the temporary management of JSC Industrial Assets. The document was published on Russia’s official legal information portal.

Russian-Flagged Oil Tanker Towed to Egypt Port After Engine Failure

The Russian-flagged oil tanker ALYSSUM suffered an engine failure in the Mediterranean Sea and was towed to the Egyptian port of Port Said for repairs, according to the Suez Canal Authority.

KTZ Express ships cargo from Kazakhstan to Mexico via Azerbaijan using TITR

Uzbekistan's TMK urges wider use of Trans-Caspian route for mineral exports

October Sees Surge in Attacks on Ships in Strait of Hormuz

A record 34 vessels were attacked while transiting the Strait of Hormuz in October, accounting for more than a quarter of all reported attacks on ships in the region since the start of the Middle East conflict.

Iran Reports More Tanker Fires in Strait of Hormuz

Two oil tankers and a tugboat caught fire in the Strait of Hormuz, Iran’s Islamic Revolutionary Guard Corps (IRGC) said on Thursday, as Iran continues to report a growing number of incidents with vessels trying to transit the Strait on routes unauthorized by the Islamic Republic. One of the oil tankers hit a naval min…

BP raises over $1bn from Aker BP stake sale

British energy major BP has raised about $1.06bn by selling part of its stake in Norwegian oil and gas producer Aker BP as it continues efforts to strengthen its balance sheet. The company sold 31.6m shares, representing around 5% of Aker BP’s total issued share capital, for NOK311 per share. The transaction generated…

Azerbaijan to Take Over Caspian Sea Aquatic Bioresources Commission in 2027

Azerbaijan will assume the chairmanship of the Commission on Aquatic Bioresources of the Caspian Sea starting January 1, 2027.

Bucharest to host Caspian-Black Sea green energy corridor talks

Uzbekistan, China's Tianjin discuss railway-linked business cooperation

Evergreen’s Suez return leaves Zim increasingly isolated

The container shipping industry’s long detour around southern Africa is rapidly coming to an end, with Taiwan’s Evergreen preparing to send its first ships through the Suez Canal after almost three years of avoiding the Red Sea. According to liner consultancy Linerlytica, Evergreen will deploy the 16,556 teu Ever Eon …

EU Survey Reveals Massive Support for Renewable Energy Transition

A majority of European Union citizens are in favor of an accelerated transition away from oil and gas and into alternative energy sources and transport electrification, a survey conducted by the European Investment Bank has shown, as reported by Reuters, which got an exclusive look at the survey. According to the surv…

Maersk upgrades profit outlook despite underperforming rivals

Maersk has raised its full-year earnings guidance for the third time this year, with the Danish shipping giant continuing to benefit from extraordinary freight rates, resilient cargo demand and widespread supply chain disruption. The Copenhagen-headquartered group now expects underlying EBITDA of between $14bn and $14…

UN urges environmental safeguards in Caspian transport planning (Exclusive)