China will raise consumption tax on oil products from Saturday, the Ministry of Finance said on Friday.Consumption tax on gasoline, naphtha and lubricants will be raised by 0.12 yuan ($0.0195) per litre, while consumption tax on diesel…
Kenya Power plans to spend 8.7 billion shillings ($96.6 million) on new power distribution stations to improve electricity supply aimed at curbing chronic power shortages that companies say have discouraged investments.Kenya Power, the country's main electricity transmission company…
Russia's rouble and shares hit new lows on Friday as oil prices collapsed after OPEC decided to leave its output unchanged despite heavy oversupply.At 1000 GMT, the rouble was around 2.2 percent below the previous close at 49.72 roubles per dollar…
BIMCO has today announced its support for a report identifying ways to reduce red tape for shipping which will be presented to the International Maritime Organization (IMO) next week in London.The report comes from the Ad Hoc Steering Group for Reducing Administrative Requirements (SG-RAR)…
The global shipping industry, which transports around 90% of world trade, only produced about2.2% of the world’s total Green House Gas emissions during 2012 compared to 2.8% in 2007. Shipping’s total emissions have reduced by more than 10% during the same period…
Starting in December 2014, IHC Sealing Solutions will operate under the new – but also old and trusted – name of Lagersmit. The new pay-off line ‘The Origin of Sealing Solutions’ pays tribute to the company’s rich history and its desire to supply the best sealing solutions…
Concordia Maritime signed time-charter contract for two P-MAX tankers and launched a pool with four vessels.The time-charter contracts are with Stena Bulk and cover the wholly owned Concordia Maritime tankers Stena Perros and Stena President…
Royal IHC (IHC) has today successfully launched Subsea 7's 550t pipelaying vessel, Seven Rio, at its shipyard in Krimpen aan den IJssel, The Netherlands. The naming ceremony was performed by Mrs Anelise Lara, Petrobras Executive Manager for the Libra Project…
The Coast Guard medevaced an injured 62-year-old man from his sailboat Thursday approximately 100 miles east of Kill Devil Hills.Watchstanders at the Fifth Coast Guard District command center in Portsmouth, Virginia, received notification at approximately 8:30 p…
Based on the Finland Ministry of Transport and Communication’s maritime strategy, the Finnish parliament has announced a final and lawful decision on the new fairway due law as follows:- The new fairway due law is temporary, being effective 2015-2017- New unit cost is 0…
State-controlled Exportadora de Sal SA de CV of Mexico ('ESSA'), one of the world’s largest salt exporters with a 10-million-ton annual production, has strengthened its commitment to the continued protection of its operating environment with…
On 27 November 2014, PSA Group Chairman Fock Siew Wah was conferred the national distinction ‘Commander of the Order of the Crown’ from His Majesty King Philippe of Belgium for his merit, dedication and services rendered to the Kingdom of Belgium…
After a very fast and successful 17-day drydocking the cruise ship MSC Magnifica left Damen Shiprepair Rotterdam (part of Damen Shiprepair & Conversion) for Hamburg on schedule to start her next cruise. Next week (December 2) another cruise…
Rolls-Royce has won a £12 million order to provide design, integrated power and propulsion systems and equipment for a highly advanced multipurpose service vessel for the Norwegian ship owner Myklebusthaug Management to be built at the Beşiktaş Shipyard in Turkey…
Classification society DNV GL recognised that E.R. Schiffahrt has retrofitted seven ultra large container vessels to meet the highest energy efficiency standards and improve its cargo capacity through the DNV GL Modification Excellence Award…
