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Sovereignty of the seas

Russia, Iran, Azerbaijan, Kazakhstan and Turkmenistan have signed a landmark agreement on the Caspian Sea’s legal status, outlining the maritime borders and ending a 20-year long dispute.

All five countries are to have 24 km-wide territorial waters extending from their shores, and another 16 km of exclusive fishing rights. The rest of the surface water will be common territory.

Deciding on how to divide the Caspian Sea paves the way for more energy exploration and pipeline projects.

Reports suggest that the territorial disputes in the region have prevented the exploration of more than 20 billion barrels of oil and 240 trillion cu ft of gas.

Heavy Lift | News

Coal comes under pressure thumbnail image

Coal comes under pressure

October 5 - While US President Donald Trump continues his efforts to revive the coal industry, governments across the Atlantic are vowing to crack down on greenhouse gas pollution and stop the use of the fossil fuel.
Views: 2060
Inward-looking policies threaten shipping's outlook thumbnail image

Inward-looking policies threaten shipping's outlook

October 4 - Uncertainty arising from wide-ranging geopolitical, economic and trade policy risks is redefining the maritime transport landscape and shaping the sector’s outlook, says the United Nations Conference on Trade and Development (UNCTAD).
Views: 1433

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