Legal News - page 63


Hapag Lloyd: Set for Worst Day Ever After Outlook Cut

Jun 29, 2018

Shares in German container shipping company Hapag Lloyd plunged 19 pct, hitting 1-year low, after the company cut its 2018 outlook. The Company cites 'unexpectedly significant' and continuing increase in operational costs, especially with…

DNV GL Type Approval for XPAND Battery System

Jun 27, 2018

U.S. manufacturer of lithium-ion cells and battery systems XALT Energy’s XPAND Battery system has been certified as acceptable for installation on all marine vessels classified by DNV GL. According to a press release from the company, XPAND…

ClassNK Releases Annual Report on Port State Control

Jun 27, 2018

Leading classification society ClassNK has released its annual report on Port State Control. The report aims to assist ship operators and management companies in maintaining compliant operations by providing information about ships detained…

Diana Shipping, BNP Paribas Pact for Five Year Loan Facility

Jun 27, 2018

Diana Shipping announced that on June 20, 2018, it signed a term sheet with the French bank BNP Paribas for a five year loan facility of up to US$75 million, subject to loan documentation.  The global shipping company specializing in the…

U.S. Coal Cargo Reaches China, Beating Import Tariff Deadline

Jun 27, 2018

A vessel carrying 164,000 tonnes of coal from the United States reached Caofeidian port in northern China on Tuesday, Thomson Reuters Eikon ship tracking data showed. The vessel named Partnership is on schedule, while Beijing plans to impose steep tariffs next month on a list of U…

Maersk Line to Comply with U.S Sanctions on Iran

Jun 27, 2018

Maersk Line, a part of A. P. Moller-Maersk, acknowledged that the United states has announced it will cease its participation in the joint comprehensive plan of action (JCPOA), and re-impose Sanctions on Iran following a wind down period. Maersk will respect U…

APM Terminals India Becomes Authorized Economic Operator

Jun 26, 2018

APM Terminals India Pvt. Ltd became one of India’s first Inland Service providers to receive the internationally recognized security standard, Authorized Economic Operator (AEO) from the World Customs Organization. The aim of the AEO program…

Canada Dreams of Oil Exports to Asia, but California Beckons

Jun 26, 2018

The nationalization of a crude oil export pipeline in western Canada has buoyed long-standing hopes for crude exports to markets beyond the United States - but the most likely destination for much of that oil is California. Faced with declining…

Migrants Rescued by Boxship Land in Sicily

Jun 26, 2018

More than 100 rescued migrants from private cargo ship Alexander Maersk, picked up off the coast of southern Italy on Friday, arrived in the southern port of Pozzallo in Sicily on Tuesday. The new Italian government has closed its ports to ships operated by charities in the Mediterranean…

French Union Calls for June 28 Port Action

Jun 26, 2018

France's CGT union says it is calling on port workers across the country to down tools on June 28 and join a protest against the policies of the government. Thursday's action coincides with the end of three months of rolling train strikes…

Suez Canal Seeks 300 mln euro Loan

Jun 26, 2018

Egypt's Suez Canal Authority is seeking a 300 million euro ($350.19 million) loan from Gulf banks, three senior banking sources told Reuters on Tuesday. The loan will be used to finance the purchase of two new dredgers, the sources said…

World Shipping Council Says SAR is Shared Responsibility

Jun 25, 2018

The containership Alexander Maersk picked up 113 migrants after a request by the Maritime Rescue Coordination Centre in Rome to change the vessel’s course and assist in a Search andRescue operation in international waters on last Friday. The…

ICS Worried About EU Policy for Migrants Rescued at Sea

Jun 25, 2018

The global trade association for ship operators – the International Chamber of Shipping (ICS) – is increasingly concerned about the new policy of the Italian Government to close its ports to migrants rescued by ships at sea.  In the interest of protecting safety of life at sea…

Golar LNG Closes FLNG Hilli Episeyo Financing

Jun 22, 2018

Owner and operator of LNG carriers Golar LNG has secured $ 200 million in additional liquidity as part of a debt financing deal related to the Hilli Episeyo. Golar LNG announced that following the June 4th announcement of commercial acceptance of Hilli Episeyo…

China to Cut US Oil Imports Amid Trade Spat

Jun 21, 2018

Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world's two largest economies, multiple industry sources said…

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