IMO and Korea Agree to Boost SMART-C Program
The IMO and the Republic of Korea have signed a suite of agreements to formally establish and boost the IMO-Republic of Korea Sustainable Maritime Transport Cooperation (SMART-C) program.The goal of the KRW 25.5 billion (approximately $20 million) SMART-C program is to promote sustainable maritime transport systems and a sustainable marine environment by building knowledge and developing technical capacity in developing countries via long-term thematic projects.This Official Development Assistance (ODA) funding will ensure long-term programming of several technical cooperation projects.
Lomar Promotes Georgiou to CEO
Nicholas Georgiou has been promoted to Chief Executive Officer of ship owning and management business Lomar, its parent company the Libra Group announced. Georgiou has been Lomar’s Chief Operating Officer since 2010 and succeeds Achim Boehme, who passed away from cancer in July.George Logothetis, Chairman and CEO of the Libra Group, says, “This announcement has long been in our succession planning, with Achim due to have become Chairman of Lomar. Achim’s tragic passing left us with a huge void but also a tremendous legacy…
China M&A Rulings Create Hot Competition for Antitrust Lawyers
China's increasing regulatory influence over international mergers and acquisitions has helped to create the hottest new commodity in its legal industry: anti-trust lawyers. Six years ago, China did not even have a legal system for regulating the impact of M&A on competition. Today, its Ministry of Commerce is the biggest wildcard for dealmakers trying to get a major cross-border deal past anti-trust regulators. The ministry's decision last month to reject Danish shipping group A.P. Moller-Maersk's planned alliance with Swiss and French rivals came as a "big surprise" to Maersk Chief Executive Nils Smedegaard Anderson, whose team had been in close contact with the regulator until days earlier.
Port Authority Introduces New Management Team
Executive Director Len Waterworth has implemented a reorganization of the management structure of the Port of Houston Authority designed to enhance efficiencies, drive higher profitability and ensure greater accountability, consistent with the Port Authority's vision and mission. The reorganization shifts to a structure that is based on collaborative teams with specific operations. Waterworth, who was appointed to his post in April, has named a leadership team at the Deputy Executive Director level to lead the new operational divisions.
Clients Respond to BIMCO’s Idea
Only six months after its official launch in Beijing, BIMCO’s Internet Document Editing Application (idea) has garnered a list of clients worldwide. The number of companies using idea now exceeds 100 and includes not only shipowners and shipbrokers, but also ship management companies, port agents and law firms. The broad appeal of idea stems from its ease of use and the wide range of standard shipping documents available, plus the ability to share the same edited document between offices. In addition to numerous conventional voyage and time charter parties, idea offers electronic versions of ship and crew management agreements, towage contracts, bills of lading and statements of fact.
