Shipbuilding

Court ruling paves way for liquidation of Skaramangas shipyards

An Athens court has approved an appeal by the Greek state and Piraeus Bank to prepare the Skaramangas shipyards for liquidation.

As long as there are no objections from the key shareholder Privinvest, which is far from certain, the government will be able to start auctioning the shipyard's assets via an international competition.

Russia Builds World's Deadliest Submarine

Russia has built the world's deadliest submarine. Kremlin recently claimed that the most advanced ballistic missile submarine could easily hit targets 5,778 miles away with nuclear warheads. Defence experts are of the opinion that Borei II-class ('North Wind') submarine - named 'Knyaz Vladimir' or 'Prince Vladimir' - is the world's most powerful and dangerous.

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