US Lifts Iran Economic Sanctions against ASM
On February 7, 2014, the United States, acting through the U.S. State Department (the foreign ministry of the United States) terminated all economic sanctions imposed against Associated Shipbroking, Monaco (ASM), under the U.S. economic sanctions against Iran, after determining that ASM met and satisfied the criteria for the termination of sanctions under relevant U.S. economic sanctions laws. Specifically, the State Department determined that ASM was no longer engaged in sanctionable activities, and that it is not likely that ASM will engage in such activities in the future. The State Department, accordingly judged that the termination of sanctions against ASM was appropriate. The Eren Law Firm, Washington, DC, led by former U.S.
Gibdock Opens Doors to Royal Visitor
As part of a three day Royal tour of Gibraltar in June, HRH The Prince Edward, Earl of Wessex set time aside to inspect work under way at Gibdock, the territory’s strategically located repair and conversion yard. Accompanied by Gibraltar Governor, Sir Adrian Johns and Gibraltar Chief Minister, Fabian Picardo, the Earl was welcomed by the Minister for the Port, Neil Costa, Gibdock Chief Executive, Joe Corvelli, Commercial Director, Richard Beards, Finance Director, Paul Singleton, and Production Director, John Taylor.
Bocimar and Zodiac Maritime Reportedly Near Alliance
Bulk shipping giants Bocimar and Zodiac Maritime are close to forming an alliance that would control nearly a third of the world Capesize market, according to London broking sources. Shipping sources said that although the rumors had been circulating the broking community for months, London shipbrokers had recently returned from a social event in Belgium, where Bocimar is headquartered, full of talk of an agreement. A source close to Zodiac's London office confirmed that talks were in progress. "We've been talking to them since January, but as yet there's nothing concrete," he said. Zodiac, part of Israeli group Ofer Brothers, declined to comment, as did Bocimar, which is part of Belgium's CMB Group.
Bulk Shipping Alliance Close To Start-Up
A Capesize bulk shipping alliance involving three of the sector's biggest fleets may be launched within a month, according to one key player, Greece's Angelicoussis Group. "The momentum right now is to get it finished as soon as possible," Angelicoussis CFO Dimitri Stylianou said. Stylianou said the two other key players would be Israel's Zodiac Maritime, which is part of Israel's Ofer Brothers Group, and Bocimar of the Belgian CMB Group. "It'll be a three-way pool, but there will be some smaller players involved too," he added. "It's not so much a reaction as we feel the trade and nature of the Capesize market needs something more organised." Brokers said an alliance between the three would tie up Bocimar's 40-50 Capesizes with Zodiac's 30 and the Angelicoussis Group's six.
