BIMCO has today launched the Bunker Non-Lien Clause, aimed at reducing bunker suppliers’ reliance on ship arrest as a means of resolving claims for bunkers ordered but not paid for by time charterers, often due to bankruptcy.If a time…
Van Oord has reached agreement on the acquisition of the activities of Ballast Nedam Offshore. The acquisition consists of the assets of Ballast Nedam Offshore, the dedicated EPCI staff (Engineering, Procurement, Contracting and Installation)…
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…
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…
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…
Trident Alliance, the shipping industry initiative for robust enforcement of maritime sulphur regulations, broadens its platform as some of Germany’s and Denmark’s most prominent shipping companies join its ranks together with new members from Chile…
Despite the significant reduction in piracy attacks over the last few years it is now widely accepted by the maritime community that the safety of the High Seas cannot always be guaranteed by Governments. The future of security in the marine…
The global trade association for shipowners – the International Chamber of Shipping (ICS) – isdisappointed and concerned that the European Union is about to pre-empt negotiations takingplace at the International Maritime Organization…
The M/V 'MANSOUR M' with IMO number 7600586 has been banned for the 3rd time after subsequent detentions after the second refusal of access order in the Paris MoU region.The ship was detained on 31 October 2014 in the anchorage of Rhodes…
Reference is made to the third quarter 2014 report released on Nov 26, 2014. Golar LNG will be trading ex-dividend of a total dividend of $0.45 per share on December 3, 2014. The record date will be December 5, 2014 and the dividend will be paid on or about December 30, 2014.
