At the inaugural recent Tradewinds Jones Act Forum, MARAD Acting Administrator Paul 'Chip' Jaenichen discussed the changes affecting the coastwise U.S.-flag maritime industry -- also known as the Jones Act fleet. Extracts follow:Since its enactment…
International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by an average 1.8% in 2012. This compares with the 2.1% average rise in costs recorded for the previous year. There…
An IMO symposium on a Sustainable Maritime Transportation System, held on world Maritime Day (September 26, 2013), provided an opportunity for a discussion on a global agenda for a sustainable maritime transportation system. The symposium…
The global trade association for shipowners, the International Chamber of Shipping (ICS), has submitted detailed comments to the International Accounting Standards Board (IASB) on its controversial proposals to overhaul international accounting rules for leases…
Volume of EUR 250 million / Coupon at 7.75% / Bond was several times oversubscribed. Hapag-Lloyd AG has successfully placed a bond with a volume of EUR 250 million with institutional investors. The bond with a maturity of five years has a coupon of 7…
Overall confidence levels in the shipping industry held firm over the three-month period to August 2013, maintaining the highest level reached since November 2010, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens…
Halliburton Pleads Guilty to Destruction of Evidence in Connection with Deepwater Horizon Disaster and Is Sentenced to Statutory Maximum Fine; Former Halliburton Manager Is Charged. Halliburton Energy Services Inc. (Halliburton) pleaded…
Grant from the MTU Environmental Foundation to promote the environmental protection of Lake Constance; Environmental protection a major corporate mission of the Tognum Group. For the fourth time, the MTU Environmental Foundation is inviting tenders for a grant of 20…
Ownership of key vessels will remain in Finland Neste Oil is planning to exit its shipping business. According to the plan, the company would sell all its own vessels and outsource the ship management functions currently covering them…
With individual claims arising from excessive main engine wear caused by cat fines in the fuel oil likely to exceed $1m, and no sign of the problem being remedied at source, operators will have to take on the responsibility for reducing the incidence of these claims…
TAPS (Tragedy Assistance Program for Survivors) has set up a 'Navy Yard Tragedy Family Support Fund' for those affected by the recent tragedy. They have experience and expertise in providing this support for families in circumstances like this…
During an address today in New York City at the TradeWinds 2013 Jones Act Shipping Forum, American Maritime Partnership Chairman and American Waterways Operators President & CEO Tom Allegretti hailed the nation’s domestic maritime industry as a crucial element of America’s economic…
Moody's Investors Service assigned to Hapag-Lloyd AG. (Hapag-Lloyd) a B2 corporate family rating and the B2-PD probability of default rating. At the same time, the rating agency has withdrawn the B2 corporate family rating (CFR) and the…
Container shipping costs have continued to rise, but the trend has not been uniform across all trades and Drewry is expecting rate levels to fall in the final months of the year. Pricing on Asia origin trades has been buoyed by peak season volumes…
Key initiatives and solutions to be shared at Sustainable Shipping Initiative’s milestone conference on 26th September in Singapore.The Sustainable Shipping Initiative (SSI), a coalition of shipping leaders from around the world, is about…