Global law firm Norton Rose Fulbright has advised DNB Bank ASA and ABN AMRO Bank N.V. on the provision of circa $200m loan facilities to Star Bulk Carriers Corp. (Star Bulk Carriers), in order to assist it with its acquisition of Eagle Bulk Shipping Inc (Eagle Bulk Shipping) earlier this month. The...
The Delaware Court of Chancery determined, in an opinion issued on February 23, 2024 in the case of West Palm Beach Firefighters’ Pension v. Moelis & Co.,¹ that certain provisions contained in a stockholder agreement were invalid under Delaware’s General Corporation Law (“DGCL”) and its relevant...
Global, sector-focused law firm has announced the promotion of six new shipping Partners and Legal Directors, effective 1 April 2024. The promotions continue the growth of HFW’s preeminent global shipping practice, following its recent addition of a leading ship finance team in Piraeus. HFW is...
The IMO’s Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships 2009 (Hong Kong Convention) will enter into force on June 26, 2025. Whilst the ratification of the Hong Kong Convention is a positive development and brings the industry one step closer to...
https://www.hellenicshippingnews.com/ironing-out-ship-recycling-wrinkles/
Recent Houthi attacks on vessels passing through the straits of Bab al-Mandab on their way through the Red Sea mean that the shipping industry has moved beyond trade press reporting and onto front page news. While the causes of the current situation are very different, it is possible to draw a...
https://www.hellenicshippingnews.com/red-sea-movements-and-financial-security/
The Cyprus Shipping Deputy Ministry recently announced a new ‘Green Incentives Programme’, aiming to reward vessels which effectively reduce their greenhouse gas emissions. These measures form part of the general efforts of the Shipping Deputy Ministry – in line also with the European Green Deal –...
https://www.hellenicshippingnews.com/cyprus-shipping-2024-new-green-incentives-programme/
Global law firm Reed Smith hosted a Carbon Markets event on the European Union Emissions Trading System, in which a panel of regulatory, environmental, and shipping lawyers delved into compliance, emission allowances, the extension to maritime, and the next phase – ETS 2. A packed audience joined...
Two companies in the Alaska seafood shipping industry recently settled a lawsuit challenging penalties and fines levied by U.S. Customs and Border Protection (CBP) for violating the Jones Act, a law that requires merchandise be transported by U.S. flagged vessels between U.S. ports. An exception to...
Ship CII ratings will be released imminently for their performance in 2023. However, with the low take-up of Bimco’s CII Time Charter Clause and with many in the industry questioning whether CII is truly fit for purpose, Ian Short examines whether there will be any impact caused by low CII ratings...
Emission trading systems (ETS) are “cap and trade” schemes that permit the emission of greenhouse gases in exchange for allowances. They are just one part of the ever-expanding web of environmental measures that are impacting the shipping industry with the aim of ensuring greater efficiency and...
https://www.hellenicshippingnews.com/emissions-trading-begins-to-bite/