DHT Rejects Frontline Bid, Again
Crude oil tanker company DHT Holdings rejected on Sunday a fifth takeover proposal from shipping tycoon John Fredriksen's Frontline. A statement from DHT Holdings said that its Board of Directors has unanimously rejected Frontline April 25 proposal to acquire all of the outstanding shares of common stock of DHT at a ratio of 0.8 Frontline shares for each DHT share. "This is, of course, the exact same proposal you made at the end of February.
Preparing for BWM Convention Implementation
Identifying organisms and microbes in ballast water, as well as monitoring port marine life where ballast water may be released, are key for countries preparing to enforce International Maritime Organization (IMO)’s Ballast Water Management Convention. The treaty will enter into force on 8 September 2017 and aims to counter the threat to marine ecosystems by potentially invasive species transported in ships' ballast water.
London Eyes Top Maritime Center Slot
London has risen from sixth place overall in 2015 to fifth place this year the world’s top maritime centre in Menon Economics’ Leading Maritime Capitals of the World report for 2017 – despite the uncertainty of Brexit. UK Chamber of Shipping says that none of the other maritime cities in the top five – Singapore, Hamburg, Oslo and Shanghai – have had to deal with such a massive economic spanner being thrown in their works. And still London has strengthened its global standing.
Indian Warships visit Egypt
As part of the Indian Navy’s overseas deployment (OSD) to the Mediterranean Sea and the West Coast of Africa, two Indian warships, INS Mumbai and INS Aditya, arrived at Alexandria on May 5, 2017 for a three-day visit. The warships will engage extensively with the Egyptian Navy during their stay in harbour. Apart from professional interactions, a number of sports and social engagements are also planned…
New Ministerial Declaration on PSC
A press communique from Danish Maritime Authority said that 29 countries from the Paris MoU and the Tokyo Mou have signed a new Ministerial Declaration on port State control (PSC). The declaration, which has been under preparation for three years, stipulates new goals for port State control and for cooperation. In addition to sulphur regulations and the Polar Code, the declaration focuses on a number of other areas…
Inland Shipping Expands in India
Integrated cargo transport along multiple waterways begins in India from the banks of Rupnarayan to the shores of Ganga. V. V. Giri, a vessel of the Inland Waterways Authority of India (IWAI) began a landmark pilot movement on April 23, 2017 from Kolaghat in East Midnapore district of West Bengal to Bhagalpur in Bihar with a cement consignment of 240 metric tons. The vessel's journey commenced from Kolaghat on Rupnarayan river (National Waterway- 86) to reach Bhagalpur via river Ganga (NW-1).
IMO Addressing Substandard Shipping Issues
International Maritime Organization (IMO) Secretary-General Kitack Lim has stressed the vital importance of collaborative efforts to leave ‘no hiding place’ for substandard shipping. Lim was addressing the third Joint Ministerial Conference of the Paris and Tokyo Memoranda of Understanding on Port State Control in Vancouver, Canada (May 3-4). Port State Control is the mechanism that enables officials…