LR response to GMF comments on regional regulation in shipping

Lloyd’s Register [LR] is aware that there have been calls for greater regional regulation of the global shipping industry at this year’s virtual Global Maritime Forum [GMF] event. These statements were made in relation to the speed with which regulatory measures are being imposed to address the maritime industry’s decarbonisation challenges. Some media have also …

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IMO must close loopholes to stop world’s dirtiest fuel polluting Arctic waters

HFO produces higher levels of air and climate pollutants than any other marine fuel, and its use must be banned in the Arctic. Ottawa, Canada – Huge loopholes in a proposed international shipping agreement means vulnerable marine ecosystems and the livelihoods of Arctic peoples will continue to be threatened by spills from heavy fuel oil …

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US Sanctions: Spotlight on Russia

This is the fifth of a seven-part series on the application of US sanctions to the shipping community. This article will focus on US sanctions on Russia/Ukraine. The Russia/Ukraine sanctions program is a complex mix of comprehensive, noncomprehensive and “sectoral” sanctions. It includes both primary sanctions aimed at US persons and secondary sanctions aimed at …

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Improved Credit Outlook from Moody’s for Global Ship Lease

Global Ship Lease, Inc. (NYSE:GSL) (the “Company”), a leading independent owner of containerships, announced today that its credit outlook has been improved to B3 / Positive from B3 / Stable by Moody’s Investor Services. In announcing its review, Moody’s cited the demonstrated resilience of Global Ship Lease and the container shipping industry throughout 2020, expectations …

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Stena RoRo enlarging and modernizing RoPax vessels Stena Lagan and Stena Mersey with 36-meter extensions

After extensive rebuilding, the RoPax vessel Stena Lagan will be back in service for Stena Line at the beginning of 2021, while sister vessel Stena Mersey is expected to reenter service later in 2021. Stena RoRo is responsible for the design and execution of the project, which includes dividing the ships in the middle and …

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Ocean Yield: Acquisition Of Two Suezmax Newbuildings With Long-Term Charters

Ocean Yield ASA has agreed to acquire two suezmax newbuilding tankers with 10-year bareboat charters to Nordic American Tankers Ltd (“NAT”). The net purchase price will be up to USD 44 million per vessel after seller’s credits of minimum 20%. The vessels are scheduled for delivery by the yard, Samsung Heavy Industries, South Korea, during …

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Operations on Gulf of Mexico offshore rigs return to normal following Hurricane Delta

All rigs operating in the Gulf of Mexico have begun operating normally following the passing of Hurricane Delta, but nearly a quarter of oil output still remains shut-in. The BSEE said in its latest report that personnel were still evacuated from 23 of the 643 manned platforms in the Gulf of Mexico, a total of …

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Belgian, Dutch ports call for bids for joint shore power system

Port of Antwerp, the Port of Rotterdam Authority, the Port of Amsterdam, North Sea Port Netherlands, Drechtsteden and De Vlaamse Waterweg are planning to set up a single shore-based power system for inland shipping and the river cruise industry. On behalf of all these Shore-Based Power Parties (Walstroompartijen), the Port of Rotterdam Authority has published …

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