Mla News

Commodities trader Trafigura Beheer has become the first company to offer a defined Covid premium on an Asian syndicated loan, paying up to an extra 20bp all-in on its latest US$1bn-equivalent financing.The novel pricing structure is a first for Asia, if not globally, and could set a precedent for other price-sensitive borrowers looking to limit the long-term effects of the pandemic on their funding costs.Without the Covid premiums, the terms of Trafigura's new deal are little…

Resolve’s Lindsay Malen-Habib takes the helm to become the American Salvage Association's first woman presidentLindsay Malen–Habib has been named president of the American Salvage Association (ASA) effective immediately, the trade group's executive committee announced Monday. She becomes the first woman to assume the role.Fort Lauderdale, Fla.-based Malen-Habib is currently Resolve Marine Group’s manager of client services, and she has been an active ASA member for more than 10 years…

Austal has revealed its latest development in high-speed trimaran technology with an 83 meter trimaran ferry.The ferry is under construction for JR Kyushu Jet Ferry of Japan, at the company’s Henderson South shipyard in Western Australia.Austal Hull 396, to be known as Queen Beetle, was designed and constructed by Austal Australia and is due for launch in mid-March 2020. The vessel will be handed over to JR Kyushu Jet Ferry in June 2020 and will commence services between Busan…

When it comes to the EPA’s recent proposed delay to implementation of Tier 4 marine diesel engines ‘in certain high-speed commercial vessels,’ where you stand probably depends on where you sit.On September 6, the U.S. Environmental Protection agency (EPA) proposed to delay implementation of Tier 4 marine diesel engines “in certain high-speed commercial vessels.” Specifically; EPA mentions three kinds of vessels: lobster boats, pilot boats and a third, more open-ended reference to “other high-speed vessels,” possibly including hovercraft.

An allision in the maritime sector is defined as an accident in which a moving object strikes a stationary object (bridge fender, bridge deck, dock, dredging vessel, etc.). According to the Maritime Law Association (MLA) such an accident calls the “Oregon Rule” into play. Simply put, the Oregon Rule states that “…when a moving object hits a stationary object, the moving object is presumed at fault. The moving vessel thus has the burden of proving an alternate theory of causation…

A landmark celebration has officially opened the onshore LNG processing facilities of INPEX-operated Ichthys LNG – one of the largest and most complex resource developments in the world.Japanese, Australian and Northern Territory government representatives unveiled a plaque to commemorate four decades of future benefits Ichthys LNG will bring to the Northern Territory, Australia, Japan and the region.Symbolising the collaboration inherent in global enterprises on the scale of Ichthys LNG, Mr Hiroshige Sekō, Japanese Minister of Economy, Trade and Industry, Senator the Hon. Simon Birmingham, Australian Minister for Trade, Tourism and Investment, Senator the Hon. Matthew Canavan, Australian Minister for Resources and Northern Australia and The Hon.

Robert (Bob) Clyne, ABS Senior Vice President, General Counsel and Corporate Secretary , was recognized with the Outstanding Professional Achievement Award for his distinguished accomplishments as a graduate who best exemplifies the finest tradition of Kings Point – Acta Non Verba – and lending honor and prestige to the United States Merchant Marine Academy. “Bob is most deserving of this recognition,” said ABS Chairman, President and Chief Executive Officer Christopher J. Wiernicki. Clyne began his career at ABS working in various positions from 1982 to 1988. Upon earning his law degree, he joined the firm of Hill Rivkins LLP where he practiced maritime law for 24 years and served as Co-Managing Partner from 2006 to 2012.

The North American Marine Environment Protection Association (NAMEPA) announced that Clay Maitland will receive the organization’s Lifetime Achievement Award at an awards dinner in New York on October 26. Maitland, who is a Managing Partner of International Registries, Inc (Marshall Islands Ship Registry), is being recognized for his many industry accomplishments including being a NAMEPA co-founder. “Clay is one of the finest examples in our industry of a successful businessman who expends nearly as much energy on philanthropy,” said NAMEPA Chairman Joe Hughes. Maitland has worked in the shipping industry since graduation from law school in 1968. He was employed by International Registries, Inc.

At the recent annual Maritime Law Conference (MLA) held at Arabella in the Western Cape, various prominent government and international speakers took to the floor to debate and discuss national global maritime phenomena including inter alia; the progress in handling international oil spillages, port congestion, salvage and vessel arrests. Progress and unity was evident amongst the highly respected panel of speakers including Captain Rufus Lekala (TNPA Chief Harbour Master), Captain Alan Reid, representing P&I interests, Sobantu Tilayi (South African Maritime Safety Authority) and Dumisani Ntuli (Department of Transport) who spoke of enhanced engagement amongst each department and coordinated efforts to increase efficiencies.

Austal Limited has attended the first forum hosted by the Government of Western Australia’s new Innovation Minister, The Hon. Bill Marmion MLA, in preparation for the State’s first Innovation Summit, to be held in Perth on July 28, 2016. As a WA-based builder of defense and commercial vessels, Austal participated in the forum and said it intends to play a proactive, leadership role in the Innovation Summit to help drive innovation development and investment in Western Australia. Austal’s Western Australia-based team of naval architects, designers and production engineers have developed some of the world’s most innovative commercial and defense vessels…

Emco Wheaton has played a pivotal role in the transfer of the first shipment of U.S. crude oil for export in 40 years, after the Theo T tanker set sail from the Port of Corpus Christi bound for Europe. The Greek oil tanker was loaded on New Year’s Eve by NuStar Energy LP at its North Beach Terminal at Port Corpus Christi in Texas using three Emco Wheaton Marine Loading Arms. To cost effectively and safely supply crude oil to the global market, Nustar Energy LP made significant investments in its Corpus Christi terminal operations in 2014 with the purchase of new equipment.

Odisha Cooperation and Excise Minister Damodar Rout today alleged that there has been a big conspiracy to curtail the business of Paradip port in Odisha. He said the Central government has knowingly hatched a conspiracy to make Odisha’s Paradip port defunct. Dr. Rout said the Port which bagged the Peacock award for handling the highest cargo traffic last year is now facing an alarming situation of reduced traffic handling. Rout said: "After the Adani group had taken over the control of Dhamara port from L&T, a section of BJP leaders at the Centre were trying hard to take away all the business from Paradip port to the advantage of Dhamra port.

On November 13, the newly formed New York Maritime Consortium, a coalition of leaders from New York Maritime Inc. (NYMAR), the Society of Maritime Arbitrators (SMA), the Maritime Law Association (MLA) and the Association of Shipbrokers and Agents (ASBA), will host an event entitled “New York and London: Perception and Reality”. According to the event’s organizers, key industry figures from the areas of finance, arbitration and law from both sides of the Atlantic have been invited to illustrate the strengths of each jurisdiction, and how the two relate to each other. Chief Judge Loretta Preska of the Southern District of New York Federal Court will moderate the event. The forum will be held from 2:30-6 p.m. at The Harvard Club.

FortisBC – a subsidiary of Fortis Inc. has officially started construction of its $400 million Tilbury LNG Facility expansion project today. The company is adding 1.1 million gigajoules of liquefied natural gas (LNG) to storage and 34,000 gigajoules per day of liquefaction capacity. FortisBC marked the occasion with a ground-breaking ceremony attended by The Honourable Christy Clark, Premier of British Columbia; Delta Mayor Lois Jackson; as well as Scott Hamilton, MLA North Delta; and Vicki Huntington, MLA South Delta. FortisBC Energy Inc. operates the only two LNG facilities in Western Canada. The existing Tilbury LNG Facility opened in 1971 and has safely operated in Delta, B.C. for the last 43 years.

Lloyds Bank, part-owned by the British government, has withdrawn from a $1.5-$2 billion trade finance deal involving oil major Rosneft, in a development highlighting the growing unease among Western banks in funding Russian deals. Lloyds, along with Deutsche Bank, HSBC and Bank of China was a mandated lead arranger (MLA) on the loan to finance BP's purchase of crude oil and refined products from Rosneft. The loan would be similar to previous such deals Rosneft had with BP or trading houses Glencore and Vitol but, according to banking sources close to the deal, Lloyds decided to walk away after several weeks of hesitation. The bank is 25 percent-owned by the UK government, which has repeatedly condemned Russia over its actions in Crimea and eastern Ukraine.

Seafarers & International House will hold its 14th annual Setting the Course awards banquet the at the New York Athletic Club on Tuesday evening, April 22, 2014 to honor Donald J. Marcus, Edward R. Morgan and Captain Richard P. Phillips as the 2014 Outstanding Friends of Seafarers. •Don Marcus is the President of the International Organization of Masters, Mates & Pilots, having served for many years as its Secretary-Treasurer. He is also the first president of the Maritime Labor Alliance (MLA), an organization formed by six unions to revitalize the U.S flag feet, to enhance cooperation within the maritime industry and to protect the jurisdictional rights of the maritime union members.

'Financing Charters' may now be treated as 'Preferred Mortgages' — The Republic of the Marshall Islands passes Maritime Amendment Act (No. 1), 2013. The Republic of the Marshall Islands’ Nitijela has passed the Maritime Amendment Act (No. 1), 2013 – a legislative initiative of key significance to the international marine finance community. The first-of-its-kind legislation permits a “financing charter” to be treated as a preferred mortgage in favor of the registered owner of a Marshall Islands vessel, which allows a charter party to make precautionary security filings to protect and perfect its interest in a chartered vessel. This solves…

The Industrial Marine Training and Applied Research Centre (IMTARC) located in Esquimalt, BC, is officially opened. The Honourable Lynne Yelich, Minister of State for Western Economic persification (WD), joined provincial and local representatives to officially open the Industrial Marine Training and Applied Research Centre (IMTARC). "We recognize that the shipbuilding and marine industry in British Columbia is set to grow significantly in the coming years and that this coordinated training centre will play an integral part in positioning BC for success," said Minister Yelich. Total economic activity in BC’s shipbuilding industry is expected to grow from $450 million to $1.4 billion, with the number of jobs increasing from 3,000 to 5,000.

Blank Rome’s Jeffrey Moller Appointed to Navigation Safety Advisory Council. Jeffrey S. Moller, Blank Rome LLP Partner and Product Liability, Mass Torts, insurance Practice Group Leader has been appointed to the Navigation Safety Advisory Council (NAVSAC) as a member representing the viewpoint of the Maritime Law Association. The NAVSAC provides valuable assistance to the Department of Homeland Security on matters related to prevention of collisions, ramming and groundings, including the Inland and International Rules of the Road…

Joins More than 30 International Maritime Industry Speakers. Clay Maitland, managing partner of International Registries, Inc., which administers the Marshall Islands Ship Registry, the third largest registry in the world, will be the keynote speaker at the SHIPPINGInsight 2012 Fleet Optimization Conference, Oct. 8-10 in Stamford, Conn. As keynoter, Maitland, a distinguished veteran in the shipping industry, will set the tone in addressing the challenges and solutions for improving ship efficiency and fleet operations – the central theme of the conference.

The American Salvage Association (ASA), supported by the Association of Diving Contractors International (ADCI), International Salvage Union (ISU), Marine Technology Society (MTS), Maritime Law Association of the United States (MLA), North American Marine Environmental Protection Association (NAMEPA), Spill Control Association of America (SCAA), Maritime Technology Alliance (MTA), and the World Ocean Council (WOC), will sponsor a conference, “Wrecks of the  World: Hidden Risks of the Deep (WOW)” on Wednesday, September 9, 2009 at the Maritime Institute of Technology and Graduate Studies (MITAGS) in the Washington, DC area (Linthicum Heights, MD) USA.

Ports America Chesapeake has signed a 50-year lease at Seagirt Marine Terminal that is estimated to create 5,700 jobs. McKenna Long & Aldridge LLP (MLA) partner Keith Mason, and Stephen Goldsmith, former Indianapolis Mayor, and an independent consultant to the firm, served as strategic advisors to the team in supporting this public-private partnership (P3). The project is valued at $1.3b to the State of Maryland over the life of the agreement and is predicted to impact over 16,000 jobs across Maryland.

His Royal Highness The Prince of Wales has visited Marine Current Turbines’ SeaGen, a marine current and tidal stream technology that is deployed in Northern Ireland’s Strangford Lough and generating power into the local grid on a daily basis. On May 13, HRH was greeted by Mr David Lindsay the Lord-Lieutenant for County Down and went on to meet Mrs Arlene Foster MLA Minister of Enterprise, Trade and Investment, Martin Wright Managing Director of Marine Current Turbines (MCT), and Professor Peter Gregson DL President and Vice-Chancellor Queen’s University Belfast.