US-based salvor Resolve Marine Group has begun removal of nearly a thousand tonnes of fuel oil from the sunken bulk carrier Black Rose. The Mongolian-flagged ship sank off the Indian coast in September with the loss of one life. The fuel recovery contract was awarded by Paradip Port Trust and the accident site is close to the Gahirmatha marine sanctuary. Fuel removal is expected to take 4-6 weeks to complete.

DAEWOO SIGNS HUGE YARD DEAL WITH RUSSIA'S UNITED SHIPBUILDING

Korean firm Daewoo Shipbuilding and Marine Engineering has signed a R45bn joint venture deal with Russia's United Shipbuilding to build a new shipyard in the Russian Far East. United Company will retain a controlling stake in the yard, which will focus on offshore, gas and ice-class newbuildings .