America’s sanctions on Venezuela are nothing new. For more than a decade now, the US has imposed sanctions in response to activities of the Venezuelan government and Venezuelan individuals. But the situation has escalated this month with the Trump Administration significantly expanding sanctions in response to what it terms the “authoritarian leadership” of disputed president …
If a contractual dispute escalates and one of the parties want to involve arbitrators, it is essential that notices of commencement of proceedings and the appointment of arbitrators are properly served to the right people. BIMCO’s new Law & Arbitration Clause will address these issues with a provision requiring parties to a contract to clearly …
New BIMCO Law & Arbitration clause will clarify arbitration processes Read More »
Some sayings pop up again and again in shipping circles: “The way to make a small fortune in shipping is to start with a big one.” “Moving cargo is what you do between buying and selling ships.” “If analysts say the market can only get worse, buy.” There’s also one that goes: “If there are …
Wärtsilä announced on 5 March 2020 the reorganisation of its Marine Business into three independent businesses. The change in organisational structure will be reflected in Wärtsilä’s financial reporting as of the second quarter of 2020. Wärtsilä’s new reporting structure In the new organisational structure, Marine Power, Marine Systems, Voyage, and Energy constitute the reportable segments …
POWERGLOBE plans for a ten (10) year LNG vessel time-charter agreement to support its new booked capacity allocation to Croatia’s floating terminal, on the northern Adriatic island of Krk. POWERGLOBE has booked all the remaining capacity of the Croatian terminal equal to 0.468bcm per annum, in accordance with the rules of operation of liquified natural …
POWERGLOBE seeks for 10 years LNG vessel charter-agreement Read More »
The Shipping Ministry has said it has “no control or supervision” over privately-run container freight stations (CFS) located outside the limits of major port trusts. It has also stated that the rates for services rendered by the CFSs is a private arrangement between the CFS and its customers, and it was not privy to the …
India: Shipping Ministry says it has ‘no control or supervision’ over freight stations Read More »
28-year-old Farhan Khan who works in the engine room of a merchant ship has been jobless for nearly six months now. He had signed off last year after completing his 9-month sailing period and was waiting for the company’s rejoining call since December. After a prolonged wait, he was finally asked to rejoin the vessel …
Works to install the Borssele Beta export cable in the Netherlands will set TenneT back an additional € 50 million after contractors discovered unstable soil along the cable route. Namely, the cable installation contract TenneT signed with NKT and VBMS (now Boskalis Subsea) in 2016/2017 will now be worth € 210 million, instead of € …
Borssele Beta cable work to cost TenneT € 50 million more Read More »
Norway’s recent tax relief package for the oil and gas industry is expected to cut breakeven prices by 40 per cent, thereby boosting the country’s rig demand while the UK’s plunges, according to Rystad Energy. A Rystad Energy assessment of the temporary tax relief package for the petroleum industry that Norway recently approved reveals that …
More than 50 promising Singapore-based startups will get liquidity boost thanks to the new initiative by SEEDS Capital. SEEDS Capital, the investment arm of Enterprise Singapore (ESG), has appointed six co-investment partners to provide the maritime ecosystem a strong leg-up by catalysing a combined S$50 million of investments into maritime technology startups. The six partners …
Singapore: Maritime technology startups to benefit from new initiative Read More »
