Moore Stephens: Leaner, Greener Shipping Will Attract Investment in 2019
Accountant and shipping adviser Moore Stephens says shipping will continue to attract investors in 2019 if it fulfills its ESG (environmental, social and governance) responsibilities.In the latest issue of Bottom Line, the Moore Stephens shipping sector newsletter, Richard Greiner, a partner in the firm’s Shipping & Transport team, says, “It has been suggested that the future is very much like the present, only longer. Should that prove to be the case for the shipping industry…
Interview: Shuichi Iwanami, Commandant, Japan Coast Guard
As the Japan Coast Guard celebrates its 70th anniversary, Maritime Reporter & Engineering News offers insights on the current status and future direction of the JCG courtesy of an interview with Shuichi Iwanami, Commandant, Japan Coast Guard.*Note: At the time this interview was conducted, Shuichi Iwanami was still Vice Commandant for Operations.Could you please tell us the history and future development of the Japan Coast Guard (JCG)?The JCG, in 2018 celebrates the 70th anniversary of its foundation. When it was founded, the Japanese waters were in an eclipse period.
U.S. Successfully Tests Anti-ballistic Missile Off Coast of Hawaii
The Pentagon on Friday said it had successfully tested its anti-ballistic missile system off the west coast of Hawaii, increasing the capacity to knock down missiles targeting the United States and its allies from rogue states like North Korea and Iran.The intercepting missile, which is being developed by the United States and Japan, was launched from the USS John Finn on Friday after radar on the destroyer detected and tracked the medium-range ballistic target missile.In August the Pentagon was given the mandate to pursue more options for defeating U.S.-bound North Korean missiles by using radar and more missiles to spot and shoot down…
Russian Firms, Vessels Hit with US Sanctions over N. Korea Oil Transfers
The United States on Tuesday announced sanctions on two Russian shipping companies and six vessels it said were involved in the transfer of refined petroleum products to North Korean vessels in violation of United Nations. restrictions.Russian Deputy Foreign Minister Sergei Ryabkov called the sanctions as well as other U.S. steps over alleged hacking, groundless, and promised a response.The U.S. Treasury identified the shipping firms as Vladivostok-based shipping companies Primorye Maritime Logistics Co Ltd (Primorye) and Gudzon Shipping Co LLC (Gudzon).
U.S. Sanctions Russian Firms, Vessels Over N. Korea Oil Transfers
The United States on Tuesday announced sanctions on two Russian shipping companies and six vessels it said were involved in the transfer of refined petroleum products to North Korean vessels in violation of U.N. restrictions.The U.S. Treasury identified the firms as Vladivostok-based shipping companies Primorye Maritime Logistics Co Ltd (Primorye) and Gudzon Shipping Co LLC (Gudzon).It also named six Russian-flagged vessels: Bella, Bogatyr, Neptun, Partizan, Patriot and Sevastopol."Ship-to-ship transfers with North Korea-flagged vessels from Russia or elsewhere of any goods being supplied, sold, or transferred to or from (North Korea) are prohibited under the U.N. Security Council resolutions on North Korea and are sanctionable under U.S. law," U.S.
Stena Blue Sky Bags Safety Achievement Award
The award was recently given for the professional seamanship and conduct when Stena Blue Sky effected a rescue operation after spotting a fisherman and recovering him from wreckage between the waters of North Korea and Japan 26th October 2017.“Events of this nature are subject to international laws and for us, acting in accordance with these laws is a matter of course. Nevertheless, it is important that attention is drawn to them – in this case, by the Chamber of Shipping of America.
White House Escalates China Trade Dispute in hopes for Early Solution: Kemp
The United States has adopted an "escalate to negotiate" strategy towards China, threatening a dramatic hike in tariffs to try to force a resumption of trade talks while the U.S. economy remains strong and as elections approach in November.U.S. President Donald Trump has reportedly rejected a plan to levy tariffs of 10 percent on an additional $200 billion of imports from China and ordered aides to prepare a proposal for tariffs at the higher rate of 25 percent.The levies are…
'Treasure Ship' Discovery Claim Raises Eyebrows
A South Korean company’s claims that it has discovered the wreck of a Russian warship containing $130 billion in gold “treasure” off South Korea has been met with scepticism from researchers and regulators in Seoul.Shinil Group, which was established last month, said on Tuesday it had discovered the wreck of the Dmitrii Donskoi, a Russian armored cruiser built in the 1880s and sunk in 1905 after battling Japanese warships.The company said the ship held 150 trillion won ($130 billion) in gold and it would provide evidence next week to support its claim.
US Accuses N.Korea of Fuel Smuggling
The United States accused North Korea on Thursday of breaching a U.N. sanctions cap on refined petroleum by making illicit transfers between ships at sea, according to a document seen by Reuters, and demanded an immediate end to all sales of the fuel.The United States submitted the complaint to the U.N. Security Council North Korea sanctions committee. The charge of a sanctions breach comes as Washington engages North Korea in a bid to convince Pyongyang to give up its nuclear weapons.The North Korea U.N. mission did not immediately respond to a request for comment on the U.S. accusation.
Tiny Japan Shipping Shares Jump on North Korea Detente Hopes
Shares of small Japanese shippers jumped this week after the historic summit between U.S. President Donald Trump and North Korean leader Kim Jong Un sparked hopes of news business ties with the reclusive country.Japanese retail investors are snatching up shares of the firms that may benefit from a potential thaw between Tokyo and Pyongyang, even though the Japanese government has been a staunch supporter of "maximum pressure" on North Korea.Shares of Rinko Corp, a marine transportation company…
Mattis Says US Will Continue Operations in South China Sea
U.S. Defense Secretary Jim Mattis said on Tuesday that the United States would continue to confront what Washington sees as China's militarization of islands in the South China Sea, despite drawing condemnation from Beijing for an operation in the region over the weekend.Reuters first reported that two U.S. Navy warships sailed near South China Sea islands claimed by China on Sunday, even as President Donald Trump seeks Chinese cooperation on North Korea.The operation, known as "freedom of navigation…
Japan Detects Apparent Chinese Ship Breaking N.Korea Sanctions
Japan on Tuesday said it had detected what appeared to be a Chinese-flagged vessel, 350 km (218 miles) off Shanghai, conducting illegal transfers to a North Korean ship. "Following a comprehensive assessment, the government of Japan strongly suspects that they conducted ship-to-ship transfers banned by UNSCR," Japan's Ministry of Foreign Affairs said in a press release, referring to U.N. Security Council resolutions. A Japanese P-3 maritime patrol plane detected the vessels, which lay alongside each other connected by hoses, on May 19, with one of the ships flying what seemed like a Chinese flag, it said. China has repeatedly said it is fully enforcing U.N. sanctions against North Korea and it would punish any Chinese company breaking them.
UN Seeks Traders' Help Enforcing North Korea Sanctions
A U.N. monitoring group wants to enlist the help of the world's biggest oil trading companies to enforce sanctions that cap the amount of crude and related products North Korea can import, the coordinator said.The U.N. Security Council ramped up sanctions last year after North Korea said it had conducted missile tests that put the U.S. mainland in range of its nuclear weapons.Under the restrictions, Pyongyang is limited to importing 4 million barrels of crude and 500,000 barrels…
Buyers Seek US Waivers to Buy Iranian Oil amid New Sanctions
South Korea said on Wednesday it would seek U.S. exemptions to buy Iranian oil, a path many big oil consumers are likely to follow in the wake of new U.S. sanctions on Tehran, which will tighten world oil markets and push up prices.Iran is the third-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC) and a key supplier, especially to refiners in Asia.The United States plans to impose new unilateral sanctions after abandoning an agreement reached in late 2015 which limited Iran's nuclear ambitions in exchange for removing joint U.S.-Europe sanctions…
Canada, Australia to Monitor North Korean Ships
Australia’s Prime Minister Malcolm Turnbull said on Saturday the country will send a military patrol aircraft to monitor North Korean vessels suspected of transferring prohibited goods in defiance of United Nations sanctions.Canada also plans to deploy patrol aircraft for such activities, and surveillance planes from both countries will be based in the U.S. military’s Kadena air base on Japan’s southern island of Okinawa, the Japanese government said in a separate statement.The…
Trump Rails Against Oil Prices, OPEC Pushes Back
U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the world's top energy exporters."Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea. Oil prices are artificially Very High! No good and will not be accepted!" Trump wrote on Twitter.It was unclear what triggered the tweet, Trump's first mention of OPEC on social media during his term.U.S. oil prices are near a three-year high…
Japan, China Agree Trade War Will Harm Global Economy
Japan and China agree that a trade war will have serious consequences for the world economy, Japanese Foreign Minister Taro Kono said on Monday after a high-level economic dialogue between the world's third- and second-largest economies. Concern is growing about a trade row between China and the United States in which the two nations have threatened each other with tariffs. Japan has been criticised by U.S. President Donald Trump on trade and been hit with tariffs on steel and aluminum, but it has not yet threatened counter-tariffs.
British Warship to Help Police North Korean Sanctions
A British warship “changed its deployment” and arrived in Japan on Wednesday to join efforts to police U.N. sanctions imposed on North Korea over its nuclear and missile programs. The Royal Navy frigate HMS Sutherland arrived at Yokosuka, the headquarters of Japan’s Maritime Defence Force fleet and home port of the U.S. Seventh Fleet’s carrier strike group. It “will be contributing to the international efforts to monitor prohibited trade at sea by the Democratic People’s Republic of Korea (DPRK)…
UN Sanctions North Korean Ship for Illegal STS Oil Transfer
The United Nations has blacklisted a North Korean ship for receiving oil in an October transfer that breached U.N. sanctions, as first revealed by Reuters. Reuters in December reported that Russian tankers had supplied fuel to North Korea, which relies on imported fuel to keep its struggling economy functioning, by transferring cargoes at sea. European security sources told Reuters that a Russian vessel conducted a ship-to-ship transfer with the North Korean-flagged Sam Ma 2 tanker in open seas during October.
UN Blacklists Dozens over North Korean Smuggling at Sea
The United Nations Security Council blacklisted dozens of ships and shipping companies on Friday over oil and coal smuggling by North Korea, boosting pressure on Pyongyang as leader Kim Jong Un plans to meet with his South Korean and U.S. counterparts. The council's North Korea sanctions committee acted on a request by the United States, designating 21 shipping companies -- including five based in China -- 15 North Korean ships, 12 non-North Korean ships and a Taiwanese man. The…
Maldives Denies Ties to North Korean Oil Smuggling
Maldives on Wednesday denied a Japanese foreign ministry statement that said a Maldives-flagged vessel was used to illegally transfer goods from a North Korean-flagged tanker in defiance of U.N. Security Council resolutions. The Japanese statement said the "Chon Ma San", designated by the United States as a sanctions target, was spotted by a surveillance plane with the Maldivian-flagged tanker "Xin Yuan 18" some 250 km (160 miles) east of Shanghai on Saturday. It said "Japan strongly suspects that the vessels conducted ship-to-ship transfers" banned by U.N. Security Council resolutions.
Japan Suspects Another North Korea Sanctions Breach at Sea
Japan has discovered another North Korean tanker it suspects of transferring goods with a vessel in defiance of U.N. Security Council resolutions, the Foreign Ministry said on Tuesday. It was the fourth time Japan has suspected such an illegal transfer in recent weeks and comes as the Trump administration and key Asian allies prepare to expand interceptions of ships suspected of violating sanctions on North Korea. North Korea last year conducted dozens of missile launches and…
US Prepares High-seas Crackdown on N.Korea Sanctions Evaders
The Trump administration and key Asian allies are preparing to expand interceptions of ships suspected of violating sanctions on North Korea, a plan that could include deploying U.S. Coast Guard forces to stop and search vessels in Asia-Pacific waters, senior U.S. officials said. Washington has been talking to regional partners, including Japan, South Korea, Australia and Singapore, about coordinating a stepped-up crackdown that would go further than ever before in an attempt to squeeze Pyongyang’s use of seagoing trade to feed its nuclear missile program, several officials told Reuters.