ACCRA: The Ghanaian government has declared its intention to terminate its agreement with a Malaysian company and take back full ownership the Tema Shipyard and Dry-Dock Corporation (TSDC) because the Malaysian strategic investor failed to achieve the vision and goals enshrined in the joint venture agreement. The government entered into a joint venture agreement with Penang Shipbuilding and ...

ACCRA: The Ghanaian government has declared its intention to terminate its agreement with a Malaysian company and take back full ownership the Tema Shipyard and Dry-Dock Corporation (TSDC) because the Malaysian strategic investor failed to achieve the vision and goals enshrined in the joint venture agreement.

United Shipbuilding Corporation and Russian Defense Ministry have 9 large contracts to sign under State Defense Order 2011, reported RIA Novosti on Sept 1 referring to the company’s official representative.

China’s COSCO Group is consolidating its three dry bulk freight companies into one firm following a sharp downturn in the market that forced the country’s top shipping conglomerate to halt payments to ship-owners, a company official said on Thursday.

Colombo Dockyard PLC riding a wave of success has outbid stiff competition from China, Thailand and Germany and has secured the contracts for the construction of two numbers 400 Passenger cum 250 Ton Cargo Vessels for the Administration of Union Territory of Lakshadweep, India.

On 30 August 2011, the large-capacity “Suezmax” tanker Vladimir Tikhonov, owned by SCF Group (Sovcomflot), passed Cape Dezhnev thereby completing her transit along the Northern Sea Route (NSR)

PANEVEZYS (A.A) - Turkey defeated Spain 65-57 in theirfifth game in Group A at EuroBasket 2011 held in Lithuania on Monday.Turkey qualified to play in the Second Round.Arena: PanevezysReferees: Sreten Radovic (Croatia), Zoran Sutulovic (Montenegro), DamirJavor (Slovenia)Spain: Calderon 5, Navarro 9, Rudy Fernandez 11, Marc Gasol 12, Ibaka 9,Ricky Rubio, Reyes 11, San Emeterio, Llull, SadaTurkey: Kerem Tunceri, Omer Onan 5, Hidayet Turkoglu 12, Ersan Ilyasova 6,Omer Asik 12, Emir Preldzic 18, Ender Arslan 10, Enes Kanter 2, Sinan GulerFirst quarter: 19-10Halftime: 38-35Third quarter: 55-49(SOL)

ANKARA (A.A) - Turkish Foreign Minister Ahmet Davutoglusaid Monday that the occupation in Gaza and the West Bank was illegal and thatsuch an occupation was strengthened by an illegal blockade of Gaza.Speaking at a press conference with Palestinian official Nabil Shaath inTurkish capital of Ankara on Monday, Davutoglu said that such an illegaloccupation and blockade could not be legally accepted.We will continue legal fight in the international arena in order to end theillegal occupation in Gaza and the West Bank, Davutoglu said.During our meeting with Shaath today, we focused on two issues: therecognition of Palestine in the United Nations (UN) and the recent stageTurkish-Israeli relations are in, Davutoglu said.Nabil Shaath thanked Turkey for its determined attitude, Davutoglu said.We shared with Shaath our thoughts on obtaining a decision from the UNGeneral Assembly on Israel before going to the International Court of Justice,Davutoglu said.We are about to complete our preparations in order to begin the process atthe UN General Assembly, Davutoglu also said.(SOL)

LEFKOSA (A.A) - The first President of the TurkishRepublic of Northern Cyprus (TRNC), Rauf Denktas, is undergoing a surgery at theNear East University (YDU) Hospital in Lefkosa on Monday.Denktas was taken into surgery due to cerebral bleeding.(SOL)

ANKARA (A.A) - Turkish Economy Minister Zafer Caglayansaid Monday that Turkey, unlike any other European Union (EU) country, will notbe a burden but would rather take away burden from the Union.Minister Caglayan received Rainhardt Freiherr Von Leoprechtin, chairman ofTurkish-German Chamber of Commerce and Industry, and an accompanying delegationin Ankara on Monday.Leoprechtine congratulated Caglayan for having been appointed as Turkey'sEconomy Minister in the new cabinet.I believe that our meeting with Mr. Caglayan will facilitate results thatwould be a boost to Turkey's EU membership, Leoprechtine said.Leoprechtine said that they took a decision to carry their headquarters toBerlin and extended an invitation to Caglayan to visit them in Berlin.Minister Caglayan said that global economic crisis could be overcome throughglobal cooperation.Cooperation between Turkish and German companies in third countries are verycrucial, Caglayan said.When Turkey becomes an EU member, it would take away burden from the Union,Caglayan stressed.We thank our German friends for extending a support to Turkey's EU bid,Caglayan also said.(SOL)