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Defense group Leonardo and Immsi's naval unit Intermarine have signed a contract worth up to 2.6 billion euros ($2.82 billion) to supply Italy's navy with five coastal minehunter ships, the companies said on Friday.The contract, which also includes logistics support, is worth 1.6 billion euros for the vessels and 1 billion euros in various other options.Immsi's share price jumped more than 16% and Leonardo was up 2.3% after the deal was announced.Intermarine will produce the 63 meter vessels in its shipyards in Sarzana and will have a 73% share of the contract, with the remaining 27% for Leonardo, the statement said.

A marine tanker carrying industrial fuel sank in rough seas off the Philippines on Thursday, causing the death of a crew member and an oil spill that could spread to waters off the capital Manila, officials said.Sixteen of the 17 crew members of MT Terra Nova have been rescued, Transportation Secretary Jaime Bautista said, after the ship capsized off the coastal town of Limay in Bataan province.The coastguard said they found the body of a previously missing crew member in the sea off Limay town in Bataan province, less than three hours' drive from the capital Manila, on Thursday afternoon."There is already oil spill.

Shipping giant CMA CGM said on Thursday that brisk international trade and Red Sea disruption supported its main maritime division in the second quarter and should limit any market slowdown later this year as new ship capacity arrives.The world's third-largest container shipping line reported a 6.8% year-on-year increase in volumes in the second quarter. Volumes also rose more than 6% from the first three months of the year when the group started seeing an upturn in demand.Restocking by U.S. firms continued in the April-June quarter, partly due to concerns that geopolitical tension with China may disrupt trade, as well as the risk of strike action by U.S.

Iran has released the oil cargo of a Greek-owned, Marshall-Islands-flagged tanker it seized in the Gulf of Oman earlier this year, a shipping source told Reuters on Thursday.The vessel, M/T St. Nikolas, is still being held by Iran, the source added. It was laden with 1 million barrels of Iraqi crude oil destined for Turkey when it was seized."The cargo was released earlier this week after negotiations," the source said.Turkish refiner Tupras said in a statement that the St. Nikolas had been holding around 1 million barrels of crude oil that it had purchased from the Iraqi state oil company SOMO.

A marine tanker carrying industrial fuel sank in rough seas off the Philippines on Thursday, causing a large oil spill as coast guard rescuers search for a missing crew member, officials said.Sixteen of the 17 crew members of MT Terra Nova have been rescued, Transportation Secretary Jaime Bautista said, after the ship capsized off the coastal town of Limay in Bataan province. A search is underway for the missing sailor."There is already oil spill. Right now, we cannot dispatch our resources because of strong winds and high waves," Transportation Secretary Jaime Bautista told a situation briefing.The ship was carrying 1,494 metric tonnes of industrial fuel, Bautista said.