Trade and investment restrictions are proliferating around the world, driven by a combination of security concerns and protectionist pressures. In each instance, policymakers can usually cite a justification of why trade and investment restrictions are necessary…
NYK will publicly offer Green Bonds (Unsecured Corporate Bonds No.40) within the Japanese domestic market in May, becoming the world’s first company to issue labelled Green Bonds in global shipping business sector.A green bond is one in which…
China aims to establish a free trade zone in Hainan by 2020 and will encourage multinationals to set up their international and regional headquarters in the province, state news agency Xinhua reported citing a government document.The guidance…
'The IMO has done something no one has done before: set an absolute target for emission reductions for an entire industry. It is a landmark achievement in the effort to reduce emissions, and something that every other industry should look to for inspiration…
Vroon shipping group has reached an in principle agreement with all its lenders regarding the terms of its financial restructuring. The agreement, which is only subject to final documentation and credit committee confirmation, is an important…
Danish bunker and tanker group Monjasa Group improved profitability in our operations and we continued making progress in optimising operational expenditures in 2017. Together, this led to a financial turnaround compared to an unsatisfactory 2016…
Orient Overseas International (OOI) has announced a profit attributable to equity holders for 2017 of US$137.7 million, compared to a loss of US$219.2 million in 2016. Earnings per ordinary share in 2017 was US22.0 cents, whereas loss per ordinary share in 2016 was US35…
Indian Register of Shipping (IRClass) classification society has received authorization as a Recognised Organisation (RO) from Netherlands’ flag administration. The authorization comes just months after IRClass received authorization from Europe’s largest flag Malta in December last year…
Danish shipping and logistics company DFDS has agreed to buy Turkish freight shipping operator U.N. Ro-Ro from Turkish private equity firms Actera Group and Esas Holdings for 950 million euros ($1.17 billion) on a debt-free basis. It marks a change of course for the Turkish company…
World goods trade will grow 4.4 percent this year, maintaining a rapid recovery that could nevertheless unravel if trade tensions escalate further, the World Trade Organization said in its annual forecast on Thursday. Global trade growth…
Danish A.P. Møller – Mærsk A/S has decided to establish a restricted shares plan for the members of its Executive Board in addition to the stock option plan established in 2017. 'In continuation of the adoption of revised General guidelines for incentive pay and Remuneration Policy for A…
DP World Australia announced the signing of a long-term partnership extension regarding service of CMA CGM Group vessels by DP World Australia at its terminals in Brisbane, Sydney, Melbourne and Fremantle. This partnership extension brings…
A surge in armed attacks against ships around West Africa is pushing up global levels of piracy and armed robbery at sea, warns the International Chamber of Commerce's International Maritime Bureau (IMB). IMB's Piracy Reporting Center recorded 66 incidents in the first quarter of 2018…
European shipowners strongly believe that the environmental committee of the IMO, MEPC, can reach an ambitious initial CO2 reduction strategy by the end of this week, building on the results of the meeting of the intersessional working group of last week…
Continuing its work to provide the region’s maritime and legal communities the opportunity to learn more about arbitration, the Emirates Maritime Arbitration Centre (EMAC) hosted its fourth breakfast session of 2018 on April 8, at its offices in DIFC…