South East Asia Malaysia: Armed assailants board oil rig in Johor 26 September Two assailants armed with swords boarded an oil rig at 0230 hrs local time around 1.5 nm southeast of Tanjung Bulat, Johor. The robbers tied up the rig’s security guards and stole personal belongings from the crew and...
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CMA CGM Corporate Foundation: 16 associations rewarded, and 8,000 children supported as part of the theme: “Promoting equal opportunities for children from disadvantaged backgrounds”
The CMA CGM Corporate Foundation is pleased to announce the name of the associations that will be rewarded following its 2018 call for proposals on the theme “Promoting equal opportunities for children from disadvantaged backgrounds”. This year, 16 French and Lebanese associations were selected,...
Stolt-Nielsen Limited Cites Lower Chemical Tanker Market Rates and Increasing Bunker Costs as Main Challenges for the Future
Stolt-Nielsen Limited reported unaudited results for the third quarter ended August 31, 2018. Net profit attributable to shareholders in the third quarter was $3.0 million, after a $12.9 million negative impact resulting from a change in the accounting for the Company’s investment in Avance Gas...
TT Talk – Building trust on the other side of the globe
International trade inevitably involves multiple stakeholders in different parts of the globe. Fraudulent activity has always been one risk to consider. This article highlights recent cases impacting forwarder relationships, together with due diligence advice. Where fraudulent activity is...
https://www.hellenicshippingnews.com/tt-talk-building-trust-on-the-other-side-of-the-globe/
US EPA Vessel General Permit – Update
Release of the final VGP (VGP 3.0) has been further delayed. VGP 3.0 was originally scheduled to be issued for comment in late 2017 allowing for final permits to be issued in the summer of 2018. The EPA recently announced that the new date for the proposed VGP (VGP 3.0) is March 2019, which will …
https://www.hellenicshippingnews.com/us-epa-vessel-general-permit-update/
Seaspan Announces Term Sheet for Investment in the Restructuring of Swiber Holdings Limited
Seaspan Corporation announced that it has entered into a binding term sheet for a potential investment of up to US$200 million in the restructured Swiber Holdings Limited (“Swiber”, and together with its subsidiaries, the “Swiber Group”), a publicly traded Singaporean offshore engineering,...
Singapore’s MPA completes first MFM acceptance test for distillates bunker delivery
The Maritime and Port Authority of Singapore has begun acceptance tests to roll out mass flow meters on bunker tankers for the delivery of distillates, with the first test completed last month, the MPA said Wednesday. “The first test was successfully completed in September 2018 and MPA is working...
Shell announces supply ports for new 0.5% sulfur marine fuels
Global producer Shell has announced supply locations for new 0.5% sulfur marine fuels to be used after the International Maritime Organization’s limit drops to that level in 2020. The company will make the new fuels available at Freeport, New Orleans and Houston in the Americas and Rotterdam,...
https://www.hellenicshippingnews.com/shell-announces-supply-ports-for-new-0-5-sulfur-marine-fuels/
UK sanctions post-Brexit
The UK currently imposes sanctions via the powers contained in the European Communities Act 1972. This Act provides for the incorporation of all European Community law, and its Treaties, Regulations and Directives into UK law. This is, however, due to change as a result of the European Union...
https://www.hellenicshippingnews.com/uk-sanctions-post-brexit/
Scorpio Bulkers Inc. Announces a Commitment for a New Loan Facility
Scorpio Bulkers Inc. announced that the Company has received a commitment from Nordea Bank Abp, acting through its New York branch, and DVB Bank SE for a loan facility of up to $90.0 million. The loan facility will be used to finance up to 60% of the fair market value of six Ultramax dry bulk …