KKR, CPPIB, Stone Point into Maritime

KKR has created a finance company to supply credit to maritime borrowers, including offshore oilfield services and traditional shipping companies, as the buyout group seeks to build a presence in maritime finance.   Maritime Finance will initially be capitalized with $580 million of equity, over 45% of which has been provided by KKR, including through its balance sheet, KKR Financial Holdings LLC (NYSE: KFN) and MerchCap Solutions ("MCS"), KKR's recently established mid-market focused merchant banking venture with CPPIB and Stone Point Capital. The balance of the capital was arranged by MCS and included participation from various family offices, mutual funds, hedge funds and specialist financial services investors. Proceeds will be used by the Company to fund its establishment and operation, provide capital for newly originated maritime financings and potentially acquire a seed portfolio of outstanding loans.


INS Sindhurakshak: snorkel sub has caught fire and sunk

INS Sindhurakshak has caught fire and sunk with about 18 crew on board after an explosion at a port in Mumbai.    Latest emerging visuals are indicating that multiple blasts could have taken place outside 

- India relies on its submarines to conduct a second strike on the enemy in a nuclear war scenario, the navy said in a maritime military strategy report released in 2007.   This sub is equipped with Russian Club-S cruise missile systems.

The 16-year-old Russian-made submarine,had recently returned from Russia after undergoing an overhaul and upgrade.

India has 14 diesel-powered submarines.   Sindhurakshak was constructed in Admiralty Shipyard, St. Petersburg. Construction of the submarine began in 1995. It was launched in June 1997 and delivered in December 1997.

Class & type: Sindhughosh-class submarine
Displacement: 2325 tons surfaced
3076 tons dived
Length: 72.6 m (238 ft)
Beam: 9.9 m (32 ft)
Draught: 6.6 m (22 ft)
Propulsion: 2 x 3650 hp diesel-electric motors
1 x 5900 hp motor
2 x 204 hp auxiliary motors
1 x 130 hp economic speed motor
Speed: Surfaced: 10 knots (19 km/h)
Snorkel Mode: 9 knots (17 km/h)
Submerged: 17 knots (31 km/h)
Range: Snorting: 6,000 mi (9,700 km) at 7 kn (13 km/h)
Submerged: 400 miles (640 km) at 3 knots (5.6 km/h)
Endurance: Up to 45 days with a crew of 52
Test depth: Operational Depth: 240 m (790 ft)
Maximum Depth: 300 m (980 ft)
Complement: 68 (incl. 07 Officers)[1]
Armament: 9M36 Strela-3 (SA-N-8) surface-to-air missile
3M-54 Klub-S anti-ship and land-attack missiles
Type 53-65 passive wake homing torpedo
TEST 71/76 anti-submarine active-passive homing torpedo
24 DM-1 mines in lieu of torpedo tube