zoom Californian shipbuilder General Dynamics NASSCO christened and launched the 50,000 dwt Constitution, the sixth ship in a series of eight eco-friendly tankers being built at its San Diego-based shipyard, on August 27.The 610-foot-long Constitution is an LNG-conversion-ready product tanker with a 330,000 barrel cargo capacity.The Constitution was built for SEA-Vista, a partnership between SEACOR Holdings Inc. and Avista Capital Partners, and will be operated by U.S.-based shipping company Seabulk Tankers.In May 2016, NASSCO held a keel laying ceremony for the Liberty, one of three ECO Class tankers under the same construction contract with SEA-Vista.The construction and operation of the new ECO Class tankers are aligned with the Jones Act, requiring that ships carrying cargo between U.S. ports be built in U.S. shipyards. Construction on the Liberty began in October 2015.The new tankers, designed by DSEC, a subsidiary of Daewoo Shipbuilding & Marine Engineering (DSME) of Busan, South Korea, are a continuation of the ECO MR Tanker design, which includes a Ballast Water Treatment System.
NEW DELHI — India’s central bank has lowered its key interest rate by a quarter of a percentage point to 6.25 per cent, a step that is expected to boost the economy.The interest rate is what the federal bank charges on lending to commercial banks. Lower interest rates help borrowers but can also spur inflation. The Reserve Bank of India judged the consumer inflation rate, at 2.2 per cent in December, safe for loosening monetary policy.In a bi-monthly review of the economy released Thursday, the central bank forecast India’s economy will expand at a 7.4 per cent pace in 2019-20, up from 7.2 per cent in this fiscal year. India’s financial year runs from April to March.The central bank said growth was mostly supported by government spending on infrastructure but investment activity was recovering.The Associated Press