The Federal Maritime Commission announced a compromise agreement reached with Mitsui O.S.K. Lines Ltd. (MOL) and its corporate affiliate, Nissan Motor Car Carrier Co. (NMCC). Mitsui O.S.K. Lines Ltd., is a vessel-operating common carrier based in Japan…
At the SMM Ship Finance Forum just ahead of SMM, the leading international maritime trade fair hamburg, experts will discuss the potential and prospects for new ship financing models. In spite of low newbuilding prices, the total number of ship orders is declining around the world…
China’s Ministry of Finance and State Administration of Taxation released Circular 106 last December, expanding its value-added tax (VAT) pilot program to additional industries. The circular also made significant updates to the VAT treatment…
Acquisition Update: U.S. Coast Guard Awards Three Contracts for Offshore Patrol Cutter Preliminary and Contract Design.In a process that has come a long way since the early days of the Coast Guard's so-called 'Deepwater' recapitalization efforts…
While Mariners strive to convert jobs into successful careers, acquiring the training and certifications necessary can seem unaffordable. To help prevent tuition costs from holding back maritime career pursuits, the Young Firm is offering a…
A bipartisan group of Great Lakes senators, led by Great Lakes Task Force co-chairs Sen. Carl Levin and Sen. Mark Kirk, wrote today to Army Corps of Engineers leaders, urging them to direct additional funding for harbor maintenance projects to reduce the backlog of projects in the Great Lakes…
Marine transport advisors, McQuilling Services recently released its 2014-2018 Tanker Market Outlook that forecasts spot freight rates across eight tanker classes and 13 major trading routes. This year’s edition also includes a forecast of asset prices over the same period for newbuilding…
The ACP demanded today that Grupo Unidos por el Canal (GUPC), the consortium in charge of the construction of the third set of locks, resume work on the project as required by the contract. GUPC is formed by the companies Sacyr Vallehermoso…
Maritime and Merchant AS (to be renamed Maritime & Merchant Bank ASA), which was granted a banking license by The Financial Supervisory of Norway (FSAN) on the 28th of January for establishing a global bank dedicated solely to the shipping and offshore industries…
The Department of Defense, Navy, announce that Electric Boat Corp., Groton, Conn., is being awarded a $520,000,000 undefinitized contract action under existing contract (N00024-12-C-2115), for additional long lead time material associated with…
New explanation issued from China on definition of “agents” in Circular 106. Industry briefing scheduled for March 6, 2014 concerning the latest information on China’s Value Added Tax regime and its impact on the maritime industry.Commissioner William P…
President Barack Obama last week announced 11 nominations to key Administration posts. Among them was William P. Doyle, who currently serves as a Commissioner of the Federal Maritime Commission.William P. Doyle currently serves as a Commissioner on the Federal Maritime Commission (FMC)…
Speaking to investors, new Shell CEO Ben van Beurden updated on the company’s priorities: improving Shell’s financial results and achieving better capital efficiency, as well as continuing to strengthen operational performance and project delivery…
The U.S. Department of Transportation’s Maritime Administration today announced that America’s six state maritime academies – California Maritime Academy, Great Lakes Maritime Academy, Maine Maritime Academy, Massachusetts Maritime Academy,…
The United States of America’s Navy is arguably the most powerful in the world, and the most immediate threat it faces may not be from China, Russia or Iran, but U.S. Congress. The use of sequestration as a budget reduction tool has resulted…