FMC Discontinues Proceedings on PRC

Monday, April 25, 2005
The Federal Maritime Commission (FMC) issued an Order discontinuing its proceeding regarding shipping restrictions, requirements, and practices of the People’s Republic of China (PRC). In its Order, the FMC noted that the United States and the PRC recently concluded a bilateral Maritime Agreement that positively addresses many of the PRC practices that led to initiation of the proceeding. Docket No. 98-14 (HK Law)

Finance

European Owners Lead in Buying Up Secondhand Tonnage

With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited.

Monjasa Bags Credit Facility from Société Générale

Danish bunker fuel supplier and shipping firm Monjasa has signed a credit facility with French bank Société Générale for USD 80 million.    A statement from

Hanjin Shipping to Submit Self-Rescue Plan

South Korea’s Hanjin Shipping is planning on submitting a self-rescue plan to creditors this week to stave off bankruptcy by Aug. 25, reports Korea Herald quoting local media.

 
 
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