FMC Amends Financial Responsibility Regulations

Monday, July 08, 2002
The Federal Maritime Commission (FMC) has amended its rules on passenger vessel financial responsibility for nonperformance of transportation by eliminating the availability of self-insurance, limiting guarantees to those Protection and Indemnity Associations approved by the Commission, and discontinuing the existing sliding scale formula for determining the amount of coverage required. The changes come into effect on August 5, 2002.
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Man Earns Jail Time for Hoax Coast Guard Calls

A man found guilty of making numerous hoax calls to the U.K. Coastguard has been jailed for four months, the U.K. Maritime and Coastguard Agency (MCA) reported.

Migrant Boat Sinks off Libya; 200 Feared Dead

A boat packed with mainly African migrants bound for Italy sank off the Libyan coast on Thursday and officials said up to 200 might have died. A security official in the western town of Zuwara,

Wärtsilä Scrubbers for Finnlines Vessels

Finnlines, a Ro-Ro and passenger vessel operator with services in the North and Baltic Seas, has contracted Wärtsilä to supply three vessels with exhaust cleaning scrubber systems.

Finance

Med Crude-Russian Urals Edges Lower in Med, Baltic

Russian Urals crude weakened in the Mediterranean and in the Baltic on Friday, while trading activity was limited ahead of a long holiday weekend in Britain, traders said.

Oil Plunge Deepens High-yield Gloom

US crude fell to a more than six-year low this week, clouding the picture for a high-yield energy sector that already faces a significant cull when credit lines are reevaluated in autumn.

NASSCO Invests in Facilities, Equipment and People

General Dynamics NASSCO has invested several hundred million in capital projects as part of its efforts to increase efficiencies via  modular shipbuilding, including:

 
 
Maritime Contracts Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4423 sec (2 req/sec)