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Hong Kong tusk bust
Customs agents crack open containers to seize $1.4m worth of undocumented elephant tusks destined for China.
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HHI takes 10%
Hyundai Heavy Industries will own 10% of a new Brazilian shipyard in a deal struck with Eike Batista's OSX.
The two shipbuilders forged an agreement Tuesday that will see the South Korean giant provide upstart OSX with technical information, technology and knowhow, as well as training for the future workforce at a shipyard proposed for southern Brazil, according to a securities filing.
Hyundai will in turn receive a stake in the OSX's shipyards subsidiary.
As TradeWinds has reported, OSX is planning to build a yard in Santa Catarina state with the goal of building, owning and operating offshore units to be chartered to sister oil production company OGX. Both outfits are controlled by Batista, Brazil's richest man.
As it prepares for an initial public offering on the Sao Paulo Stock Exchange, OSX has said it plans to provide OGX with dozens of floating production, storage and offloading units (FPSOs) and offshore platforms valued at an estimated total of $30bn.
OSX says in the latest filing that the Hyundai deal is subject to conditions and regulatory approvals.
Latest News
Navios seals $587m deal
Navios Maritime Acquisition ties up seven-unit VLCC swoop amid rumours about seller Fred Cheng's job prospects.
Pirates caught red handed
Danish Navy forced to shoot through skiff’s bow as dramatic pictures show suspects dumping weapons.
Union fights BC Ferries ruling
Canadian arbitrator says masters and other senior officers should be excluded from workers’ organisation.
Steensland hospitalised
Elderly Norwegian shipbroker Inge Steensland suffers stroke and is taken to hospital, TradeWinds hears.
CSC eyes return to glory
Sri Lankan owner aiming to make a profit within six months and expand into passenger shipping.
Blaze closes crude terminal
A key Caribbean tanker transhipment terminal has been put out of action by a major fire.
Tidewater eyes refinancing
Dean Taylor-led offshore vessel owner to raise $425m in two private placements with tonnage on menu.
Gotlandia II ferry hits ramp
No injuries reported after Rederi AB Gotland vessel suffers damage at port of Oskarshamn.
New5 In Numb3rs
Top tanker owner NITC is facing sanctions trouble despite efforts to distance itself from the Iranian state while a group of hijackers find piracy doesn’t always pay.
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