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 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
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
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
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
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
The U.S. Coast Guard has established security zones around passenger vessels and vessels carrying Certain Dangerous Cargo (CDC) while they are in the navigable waters of the Captain of the Port (COTP) Hampton Roads zone. When within 500 yards of such vessels, other vessels must operate at the minimum speed to navigate safely. Other vessels may not operate within 100 yards of such vessels. The rule comes into effect immediately. 69 Fed. Reg. 40768 (HK Law).
The North American Emission Control Area (ECA) under MARPOL Annex VI will become enforceable on 1 August 2012 On the operative day the sulfur content of the fuel oil used on board ships operating within the ECA may not exceed 1.00 percent m/m (10,000 ppm). Ships will be required to maintain and, if requested, make available to Port State Control authorities: • Bunker delivery notes (for vessels 400 gross tonnage and above)
DryShips Inc. through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, today announced that Ocean Rig’s wholly-owned subsidiary, Ocean Rig Partners LP filed a Registration Statement on Form F-1 with the Securities and Exchange
Citing “unfavorable current capital market conditions,” Euronav NV announced today that it is postponing its contemplated initial public offering of ordinary shares in the United States and related offer to exchange the company’s outstanding unregistered ordinary shares in
The public is advised to use extreme caution and prepare for the onset of heavy weather expected to generate extreme sea conditions, storm surge and high surf throughout the Main Hawaiian Islands prior to the arrival of Troppical Storm Ana.
The Danish Maritime Authority informed that the Ballast Water Management Convention is now one step closer to ratification following last week’s meeting of United Nations’ International Maritime Organization (IMO). At last week’s meeting of the IMO Marine Environment
Congestion at Paradip expected to ease in a week if rains stop; higher-than-usual congestion at some other ports too. Indian power and steel companies are importing shiploads of coal due to a severe shortage at home, leading to heavy congestion in one of the country's busiest ports that now has
A realistic picture at the grass root level of the ship breaking industry in India, Bangladesh and Pakistan unfolded at the’ 3rd Ship Annual conference on Ship Recycling on the Indian Sub-continent’ held on 18th September 2014 at Taj-President Mumbai
Everyone knows that doing business with payment terms providing for payment in the future poses a risk. Our clients often contact us asking us to write letters and file suits against customers who have either refused to pay or are unable to make payments on past due invoices
The Board of Directors of Swissco Holdings Limited (the “Issuer”) is pleased to announce the establishment of a S$300,000,000 Multicurrency Medium Term Note Program (the “Program”) and in connection therewith, the Issuer has appointed Oversea-Chinese Banking
The mission of the Lawrence Livermore National Laboratory (LLNL) is to strengthen United States’ security through development and application of world-class science and technology. LLNL seeks to enhance the nation’s defense; reduce the global threat from terrorism and weapons of mass
It may be five years before a nuclear waste dump in New Mexico closed by a radiation leak is fully operational again, and the facility will need at least $240 million to pay for the initial recovery, a U.S. Energy Department official said on Tuesday.
Amendments to SOLAS regulations III/19.2.2 and III/19.2.3 will enter into force on 1 January, 2015, and introduce mandatory requirements for passenger mustering & briefing before or on departure, for ships engaged in international voyages lasting more than 24 hours.
Canada will have trouble ensuring marine safety in the Arctic as climate change melts the sea ice and shipping increases, Parliament's environmental watchdog said on Tuesday. Canada, said Environment Commissioner Julie Gelfand, had "no long-term national vision" to cope with more
Shipping Fuel Transparency Will Lower Emissions and Cut Costs. NGOs call on shipping industry regulator to drive down costs, trigger improved fuel efficiency and reduce ship GHG emissions through efficiency data transparency. Transport & Environment
We recently came across a very interesting report issued to Congress by the United States Coast Guard. The May 2012 study might seem dated, but that’s hardly the case. Actually, it’s a telling description of what can go wrong, why and perhaps
The running of the global regime for compensation from oil pollution from ships may be under threat, due to a decision by governments to wind up the 1971 International Oil Pollution Compensation Fund (IOPCF), says the International Chamber of Shipping (ICS)