The Federal Maritime Commission (FMC) issued an order stating that, under the Shipping Act of 1984 and its implementing regulations, a licensed ocean transportation intermediary (OTI) may not use unlicensed and unbonded agents to provide non-vessel-operating common carrier (NVOCC) and ocean freight forwarder services to the public. The OTI had petitioned for a declaratory order allowing such an exception, citing the evolving business conditions. The majority of the Commission denied the petition, noting that it is not aware of any legislative history or case law that would indicate the Congress intended to distinguish between persons would act as OTIs (and must be licensed and bonded) and persons who provide OTI services (and could avoid the license and bonding requirements). One Commissioner dissented, arguing that, at the very least, the FMC should examine the issue in greater depth and seek public comment. Docket No. 06-08 (HK Law).
The White House said on Tuesday there has been no change in the U.S. ban on crude oil exports, responding to a question about whether an impending change might be behind price moves in oil markets. "There has been no change in regulations regarding crude oil exports," White House spokesman Josh Earnest said, noting the Commerce Department was in charge of export regulations. "I'm not going to speculate about any sort of policy change that may or may not be
The Environmental Protection Agency (EPA) issued a notice stating that, effective June 1, refiners will begin producing low-sulfur diesel fuel for use in ships. Initially, the sulfur content may not exceed 500 parts per million (ppm). The eventual goal is a maximum sulfur content of 15 ppm. Source: HK Law
Trico Marine Services, Inc. announced today the pricing of its previously announced private offering of $250.0 million aggregate principal amount of 8 7/8 % Senior Notes due 2012. The notes were priced at 99.196 to yield 9.0% Trico Marine expects to use the net proceeds of the offering of the senior notes due 2012 to purchase its existing 8 1/2% senior notes due 2005 pursuant to an outstanding offer to purchase such notes and to pay related fees and expenses.
Newport Beach to Ensenada boat race entrant 'Aegean' destroyed, 4 dead, may not have been seen by larger vessel Coast Guard investigators working to determine what caused the destruction of the 37-foot sailboat off the Mexican coast, consider that there's a possibility that no eyewitnesses remain. All four crew members of the Aegean were killed. And based on the level of destruction — small pieces of the boat were found spread over a wide area — it may be no one aboard the
The Tokyo MOU (Memorandum of Understanding) on Port State Control issued a Notice stating that, effective 1 January 2005, it is establishing a Detention Review Panel. The purpose of the Panel is to review, at the request of a flag state or recognized organization, specific port state control inspections undertaken by Tokyo MOU members. If the views of the Panel support the flag state or the recognized organization, the port state will be requested to reconsider its decision
Slovenian shipping firm Intereuropa fell over four percent by midday trade on Wednesday amid fears that the government may not approve its proposed merger with port operator Luka Koper. At one point during the day, shares of Intereuropa were down 4.58 percent at 2,480 tolars ($13.03) on volume of 5,526 shares, although the company earlier in the morning reported a 24 percent in group nine-month net profit. Traders said there was no explanation for the drop other than the possibility that
We all can agree that the safety of our employees is critical; if not the most important concern of each of our companies. Our marine-based employees face day-to-day perils that are not encountered by the average American office worker. It is our duty to do everything that we can to ensure that each of our employees returns safely to his or her family once their hitch is over. Our industry has made great strides in improving safety over the years by utilizing improved training programs
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 53 points to 5,284. "Owners have been keen to get their vessels fixed well before the office Christmas party to keep them trading over the festive period, which has been gratefully grasped by charterers who got the discounts they desired," SS&Y said. "This may not be the case in January when the balanced positional market will have little encouragement for owners to discount asking prices
The U.S. Coast Guard has issued guidance to its personnel regarding vessel boarding safety when conducting boardings of large commercial vessels as part of the homeland security mission. The guidance cautions Coast Guard personnel about the need for safety briefings prior to any such boarding, the risks of explosive vapors, and the risks inherent in confined space entry. It notes that many Coast Guard personnel may not have received specific training concerning the risks related to this new
During July 2016, the containership fleet reached a landmark 20 million TEU in terms of aggregate capacity, says Clarksons Research. To many it only seems like yesterday when the boxship fleet passed the 10 million TEU mark, back in April 2007
Alaska Gasline Development Corp. President Keith Meyer says the Big 3 oil companies are cooperating with the state’s desire to take full ownership of the AK LNG Project. He laid out an ambitious list of “to-dos” the state needs to check off if it is going to lead
Marshall Islands corporation headquartered in Stamford, Connecticut Eagle Bulk Shipping Inc has announced that it has closed its previously announced private placement of its common stock for aggregate gross proceeds of $88.0 million.
Successful shipboard testing has shown that Damen Green Solutions’ InvaSave mobile ballast water treatment solution is capable of providing an IMO type approved backup in a port in the event of a failure in a vessel’s on board treatment systems to uptake or discharge ballast water
The International Group of P&I Clubs and the shipping line members of the Cargo Incident Notification System (CINS) have recently produced a new set of guidelines for the carriage of calcium hypochlorite in containers.
Eversheds International says that UK trade would clearly be impacted by the Brexit vote. "We saw an immediate effect on currency and share prices, although there are signs that the market is settling down after the initial post-vote furore," says a report by Eversheds
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they do not get blamed for cargoes that start ‘cooking’ at sea. The advices comes in the latest issue of its loss prevention newsletter Signals.
An increase in internet access at sea will lead to an increased risk of suffering a cyber-attack, says a research report by Protection Vessels International. However, if addressed correctly, this risk can be lowered to sit comfortably within the acceptable risk tolerance levels of
Verweij Hoebee Groep, a subsidiary of BMT Group, expanded its service portfolio with the introduction of management audits of ship owners. This unique prevention concept goes beyond the standard condition surveys which are conducted on board ships and extends to the examination of both
The situation of the shipyards in the world and in particular the struggles of the Korean shipbuilding industry has received a fair amount of attention in the shipping press, as well as in more general news outlets. Poten and Partners discusses about the outlook for vessel deliveries in the
While the nature of the United Kingdom’s future trading relationship with the European Union (EU) will take some time to become clear, it is important to realise that in the immediate aftermath of the result of the UK’s recent EU referendum, says a report from Watson
Claims for shortage of bulk cargoes have become common in some Vietnamese ports and can lead to the arrest of the vessel by the receivers, says Gard Alert. Two of the ports frequently involved are Phu My (Cai Mep) in the south and Cai Lan in the north.
The newly inaugurated Panama Canal may not be as beneficial as it seems for container ship carriers, says Xeneta, a benchmarking and market intelligence platform for containerized ocean freight. Although the new sets of locks and deeper
• A.P. Moller – Maersk A/S (Maersk) recently announced its undertaking of a strategic and structural review of its business set-up. • We understand that the disposal of one or several of Maersk's main business units could form part of the review's outcome
A U.S. warship took its first delivery of Italian-made biofuel on Thursday as part of the Navy's programme to use more alternative energy. The USS Mason was refuelled alongside an Italian vessel, the Andrea Doria, in the seas off of Italy's southern coast with a mix produced by Italy's