ITIC has recommended that brokers place a post-fixture clause at the end of recap messages to reduce the chances of exposure to severe financial loss as a result of important messages being overlooked. The following wording was endorsed…
Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.The facility is comprised of a $192m term loan facility and a revolving credit facility of up to $148m…
Foster Wheeler AG announced today that an indirect wholly owned subsidiary of the Company has completed the acquisition of MDM Engineering Group Limited (“MDM”) on terms consistent with the merger implementation agreement entered into on March 12…
On November 13, the newly formed New York Maritime Consortium, a coalition of leaders from New York Maritime Inc. (NYMAR), the Society of Maritime Arbitrators (SMA), the Maritime Law Association (MLA) and the Association of Shipbrokers and Agents (ASBA)…
Yara International ASA delivered strong third-quarter results, with record fertilizer deliveries and continued margin benefit from lower European gas price.'Yara reports a strong third-quarter result with record deliveries, reflecting both organic growth and the Bunge acquisition in Brazil…
The Danish Maritime Authority informed that the Ballast Water Management Convention is now one step closer to ratification following last week’s meeting of United Nations’ International Maritime Organization (IMO).At last week’s meeting of the IMO Marine Environment Protection Committee…
During the open lecture on Russia’s foreign policy, Foreign Minister Sergei Lavrov stated that he could see no need for NATO presence in the Arctic.‘From time to time, we have heard talks on NATO wishing to grow its presence in the region…
The International Transport Intermediaries Club (ITIC) has issued the following general advice related to the outbreak of Ebola.Vessels that have recently called in an affected country should contact their local agents prior to arrival…
Leading classification society ClassNK announced that it has released Guidelines for Exhaust Gas Cleaning Systems.These guidelines cover class safety requirements as well as safety requirements stipulated in the IMO guidelines.The…
Ophir Energy's chief financial officer, Lisa Mitchell, will leave the company on Nov. 19 after her job was made redundant as part of a cost-saving reorganisation of the board announced in August, the company said on Friday.The oil explorer…
Salvage teams and the Army Corps of Engineers have positively identified the location of the sunken Dredge Tender NICHOLAS on the western (greenside) toe of the Mobile Ship Channel just south of Light 69.According to the U.S. Coast, Sector Mobile…
The Supreme Court has ruled in favor of the Costa Rican Government and APM Terminals in an appeal filed by the port workers union against the 33-year concession contract for the new Moin Container Terminal (TCM) in Limon on the Caribbean coast of Costa Rica…
The Port of Houston's Pilot Board Investigation Recommendation Committee (PBIRC) by a vote of 8-0 has cleared the Houston Pilot aboard the bulk carrier M/V Summer Wind of any responsibility for the March 22 collision with the tow/barge Miss…
Statoil President and CEO Helge Lund has informed the company's board of directors that he will resign.Helge Lund has chosen to leave Statoil to take up the position as CEO of another international oil and gas company. The board of directors…
Chairman Mario Cordero announced that the Federal Maritime Commission has completed compromise agreements recovering a total of $503,000 in civil penalties. The agreements were reached with five non-vessel-operating common carriers (NVOCCs)…
