ITIC has warned that the so-called ‘hold harmless’ clauses in many of the contracts entered into by its members may contain pitfalls which could prejudice their rights. A mutual hold-harmless indemnity clause should provide that each party…
U.S. Transportation Secretary Anthony Foxx will join President Barack Obama today to announce that $600 million will be made available to fund transportation projects across the country under a sixth round of the U.S. Department of Transportation’s…
South American Company Agrees to Plead Guilty to Price Fixing on Ocean Shipping Services for Cars and Trucks. First Charges in the Department’s Antitrust Investigation Involving Ocean Shipping Services; Conspiracy Affected Global Cargo Shipments…
The U.S. Navy is mapping out how to expand its presence in the Arctic beginning around 2020, given signs that the region's once permanent ice cover is melting faster than expected, which is likely to trigger more traffic, fishing and resource mining…
Reuters – Chilean shipping firm Compania Sudamericana de Vapores has agreed to plead guilty to a price-fixing conspiracy and pay an $8.9 million criminal fine to the U.S. government, the U.S. Justice Department informs.The Justice Department's…
The Federal Maritime Commission (FMC) granted a passenger vessel operator a decrease in the amount of financial responsibility it is required to maintain to reimburse passengers when an operator fails to perform cruises as contracted. The…
A U.S. federal judge on Wednesday denied BP Plc's request to halt payments from the $2.3 billion fund it created to compensate commercial fishermen for financial losses after the British company's 2010 offshore oil spill, according to court records…
U.S. Coast Guard Commandant Adm. Bob Papp delivered his final State of the Coast Guard address at Coast Guard Headquarters, St. Elizabeths Campus, Washington, D.C., Wednesday.Papp provided an overview of programs and issues of the last four…
Reuters - Chesapeake Energy Corp said it planned to cut drilling and well-completion costs by nearly $900 million in 2014 after reporting quarterly results that missed analysts' estimates.The No.2 U.S. natural gas producer, whose shares fell 3 percent in premarket trading…
Chinese shipbuilder COSCO Corp (Singapore) Ltd on Monday reported a 71 percent fall in full-year 2013 net profit, due to lower profit contributions from ship building and marine engineering segments.COSCO Corp, a subsidiary of state-owned maritime industry giant China Ocean Shipping (Group) Co…
(Reuters) Singapore's Sembcorp Marine Ltd, one of the largest offshore drilling rig producers in the world, said its net profit in the fourth quarter rose 9.2 percent as higher operating profit offset lower contributions from associates and joint ventures…
Energy sector breathing equipment specialist Air2Work has announced the appointment of new CEO Kevin O'Connor in Aberdeen, as it confirms an investment of more than £1million to expand its UKCS fleet of equipment for workers operating in hazardous environments on and offshore…
The Panama Canal Authority (ACP) said that Grupo Unidos por el Canal. S.A. (GUPC) has resumed work on the new locks project during the afternoon of Thursday, February 20.“Works have restarted this afternoon,” said Panama Canal Administrator Jorge L…
State University of New York Maritime College (SUNY Maritime) announced several scholarship availabilities.The Fort Schuyler Maritime Alumni Association, Inc. (FSMAA) is offering $3,000 scholarships to First Class Cadets making both cruises and $1…
Marine transport advisors McQuilling Services explain in a tanker industry note that timing is everything in a volatile tanker market.McQuilling explain that on the outset, one might not directly see a similarity between Valentine’s Day and the tanker market…
