Giant furniture retailer supports incoming sulphur regulations, says non-compliance would mean breach of contract. IKEA has called on shipping lines carrying its goods to comply with new IMO sulphur regulations or lose its business with the furniture retailer. Scott Hemphill, global sustainability developer at IKEA, said that if a shipping line is found not to be compliant with this legislation, this would represent “a material breach of terms and conditions resulting in business consequences up until termination.”
Seven US law firms have announced the filing of class action lawsuits against George Economou’s DryShips, joining three firms that launched action against the company last week alleging it violated federal securities laws. The law suits, many of which also name Economou and CFO Anthony Kandylidis as defendants, are calling on investors who acquired shares in DryShips between June 2016 and July 2017 to contact them to join the action. DryShips is accused of making materially false and misleading statements, systemic stock-manipulation to artificially inflate the company’s share price and using an illegal capital-raising scheme.
French shipping line CMA CGM has announced collaboration with reefer transport specialist Seatrade Group to create a new vessel sharing agreement incorporating the services known by CMA CGM as Pad and by Seatrade as Meridian. This unique service will link Northern Europe, the East Coast of the United States, Central America, the Pacific Islands, Australia, New Zealand, Peru and the Caribbean on a weekly basis. CMA CGM said the new service brings together CMA CGM, Seatrade and Marfret and improves their frequency and port coverage.
APL has announced its highest recorded fleet carbon dioxide emissions reduction of 48% in 2016, compared to its base level in 2009. Verified by Lloyd’s Register Group according to the Clean Cargo Working Group (CCWG) verification protocol and ISO14064-3:2006 standard, this achievement marks APL’s seventh consecutive year of improvements. “APL is pleased to register our best carbon reduction performance as yet, improving our fleet emission level by about 3%, versus our reduction in 2015. APL prides ourselves as a responsible carrier and will persevere in our pursuits of environmental excellence", the company said.
Older tankers have been given a new lease of life, meaning that the tanker market’s tonnage oversupply issues could take longer to resolve. Shipbroker Charles R. Weber noted that “in a development that caught many industry participants off guard, the IMO agreed last week to urging by a number of flagstates to delay enforcement of Ballast Water Management Convention (BWMC) compliance for existing vessels from September 2017 to September 2019. Compliance for existing vessels calls for the fitting of Ballast Water Treatment systems from their first International Oil Pollution Prevention (IOPP) renewal survey.
With less than two months to go until the first compliance deadline, getting ready for the new EU regulations on monitoring, reporting and verification of fuel consumption (MRV Shipping) has become top priority for shipowners and managers with operations in European waters Participation in MRV Shipping is mandatory for merchant vessels above 5,000 GT calling at European ports. But even if your vessels do not currently trade in Europe, you might want to prepare your fleet for compliance anyway to continue to successfully compete for charters. A new definitive Guide about MRV had been released.
Walt Disney Company has added another ship to the existing order of two new vessels with Meyer Werft shipyard in Germany. The new vessel will become the line’s seventh. Speaking at Disney’s D23 Expo in Anaheim, chairman Bob Chapek said: "We decided two ships wouldn’t be enough to hold all of the exciting new experiences we have been dreaming up to take family cruise vacations to a whole new level. "By the time all three new ships are sailing, we’ll have nearly doubled the size of our existing fleet." No specific details have been disclosed yet on the design or specific amenities of the three new ships.
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