to restrict loadings of hydrocarbon cargoes at Northern Sea Route ports to Russian vessels. The details of these restrictions are not yet clear, but the proposed rules are attracting concern from international shipowners. Domestic
cabotage restrictions are common, but it is unusual for a modern state to limit the nationality of vessels used in international trade.
bad. Although, they are normally growth years for the economy, the earth element this year prompts to volatility in stock markets and/or currencies, hence one should take extra care with investments this year, Lion Shipbrokers says in its Feng Shui analysis
report. However, a Chinese proverb also says: To be followed home by a stray dog is a sign of impending wealth.
International Port Management, Kanaan brings a wealth of expertise and 30 years experience in the transport and port sectors. He has built companies focused on port management, transport engineering and transport consulting and also led the development and
operations of MSCs joint venture terminal in King Abdullah Port, Saudi Arabia.
rig belonging to ONGC. Investigations are still ongoing but the yards managing director Madhu Nair has gone on the record to say the yard suspects the leakage of acetylene as the cause.
that the total containership orderbook is now more than 2.8m teu, or 13.2% of the existing fleet in slot capacity terms. The orderbook-to-fleet ratio had fallen to only 12.4% in August last year an all-time low.
falls to a new low. Speaking during Maersk Groups 2017 Q4 earnings call last week, Maersk Line COO Soren Toft conceded that shipowners were finally beginning to regain the upper hand in charter party negotiations. We
are seeing some pressure on the time charter rates, mainly as a result of the idle fleet being low, he said.
is no different to any other sector, in this respect. Indeed it is difficult to forget the words of the onetime seafarer and distinguished professor of maritime law Edgar Gold, who said we shall have failed if the only people
who join our industry do so because they have no other choice. It is certainly worth a thought, as the manning agencies scour the planet for new mariners.
while transiting the canal in northern direction. GAC cited the Suez Canal Authority as saying that the incident affected vessel traffic in the area. The ship was number 19 in the Northbound convoy, made up of 25 vessels.
All Southbound vessels cleared the canal, while 6 vessels were detained from the Northbound convoy.
Maritime Industries (IMI) joint venture. When the yard is fully operational in 2022, IMI will offer new build and maintenance, repair and overhaul of vessels, including Very Large Crude Carriers (VLCCs) and Offshore Rigs. Spread over 11.8 square kilometers,
IMI will be one of the worlds largest full-service maritime facilities.
the closure of the airport and forced the temporary evacuation of nearby residents. After examination, the device was confirmed as a WWII-era, 1,100-pound tapered end shell measuring five feet long. It was blown up at
1200 hours on Wednesday in the waters off the UK Ministry of Defense’s Shoeburyness range.
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