The Baltic Exchange’s main sea freight index fell over 1% on Friday, pressured by a dip in capesize vessel rates. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, shed 16 points, or 1.1%, at 1,488. The index registered a small 0.5% …
With the US presidential race gathering a head of steam ahead of the November 3 polling day, China and trade with the eastern powerhouse have become battlegrounds for the two lead candidates. In remarks delivered last week at the 2020 Council for National Policy Meeting, President Donald Trump stated that, if re-elected, his party will …
On 19 August 2020, the US State Department announced the “suspension or termination” of various agreements with Hong Kong, including the termination of the bilateral, US-Hong Kong International Shipping Agreement, which relates to the tax treatment of shipping income. This is the one of the most recent examples of the Trump Administration’s ongoing efforts to …
The End of the US Shipping Tax Exemption for Hong Kong Read More »
The composite index increased 3.4% this week and 59.9% up when compared with same period of 2019. The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,741 per 40ft container, which is $325 higher than the five-year average of $1,417 per 40ft container. Drewry’s composite World Container index increased 3.4% to …
Hermitage Offshore Services Ltd. announced today that it has submitted a request to appeal the delisting determination of the New York Stock Exchange (“NYSE”). As previously disclosed on the Company’s report on Form 6-K filed on August 12, 2020, the NYSE determined to initiate delisting procedures for the Company’s common shares following the Company’s voluntary …
Hermitage Offshore Services Ltd. Announces Appeal of NYSE Delisting Determination Read More »
Norwegian-born billionaire John Fredriksen appointed a hedge fund manager on Friday as next head of his family’s key holding company, which controls assets ranging from oil tankers and rigs to real estate, fish farming and finance. Fredriksen, 76, said Tor Andre Svelland, 53, will become chief executive of Seatankers Group, top shareholder of world number …
Billionaire Fredriksen names Svelland head of holding firm Seatankers Read More »
The European Union is preparing sanctions against Turkey that could be discussed at the bloc’s next summit on Sept. 24 in response to the eastern Mediterranean dispute with Greece, the EU’s top diplomat said on Friday. The measures, meant to limit Turkey’s ability to explore for natural gas in contested waters, could include individuals, ships …
EU set to sanction Turkey over ships in disputed east Med exploration area Read More »
Successful seafarer repatriation procedures have been highlighted as part of an in-depth webinar run by the Embassy of Indonesia in London (26 August). The event, which gathered representatives from governments and international organizations, provided a platform for countries to learn from effective measures and to discuss ways forward. It included a presentation on Indonesia’s experience …
Talking repatriation and international cooperation during the pandemic Read More »
The agreement covers digital twin cloud-based services for the global portfolio of assets and capital projects within the Anglo-Dutch energy and petrochemical company’s upstream, integrated gas, downstream and manufacturing business lines. Shell has now signed an enterprise agreement with Kongsberg Digital for digital twin software to be deployed across its assets and capital projects. The …
GC Rieber Shipping ASA’s 19% owned geoservices company Shearwater GeoServices Holding AS (“Shearwater”) is pleased to announce it has received an award for a large towed streamer 3D acquisition and Fast Track processing project by Total E&P Mauritania. The exploration survey covers 6,000 sq. km in the C15 and C31 Blocks using an ultra-wide tow …
GC Rieber Shipping – Shearwater receives Mauritania 3D exploration award from Total Read More »
