The world’s biggest oil companies have defended their giant bets on natural gas at a major energy conference, saying demand will soon emerge for the huge supplies of fuel they are bringing to the market.
The Shipping Ministry proposes to revert to the royalty model for deciding the award of public private partnership (PPP) contracts at Central government-owned ports to check scope for “manipulations” by private terminal operators when they get freedom to set rates after the port trusts are converted to Authorities.
The maritime industry in the UAE is constantly evolving and the UAE is now ready to voice its ambitions to become the leading international shipping hub. In this article we tackle what makes the country number 1 in the shipping industry and comment on what the UAE is doing to improve its position as the world maritime centre and to get ahead of its competitors.
“No stakeholder, alone, can deal with the complexities the planet faces in addressing the challenge of climate change”, said IMO’s Director of the Marine Environment Division, Stefan Micallef, as he opened the joint Singapore-IMO International Conference on Maritime Technology Transfer and Capacity-Building also known as Future-Ready Shipping Conference 2017, held in Singapore (25-26 September).
A ship owner investing in a newbuilding today has in front of him a flurry of options to consider in order to comply with the upcoming new regulations. In a recent weekly report, shipbroker Intermodal said that “an undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes.
Jamaica deposited its instrument of accession to the Ballast Water Management Convention on September 11. Ballast water is used to control the stability of a ship to ensure its safe operation when it is empty or partially loaded, and the convention seeks to prevent and reduce the transfer of harmful aquatic species and pathogens carried in ballast water.
The current state of the ship-repair market can be described as rather slow. In its latest report, Interyards SA said that “moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector.
The MRV Regulation (Monitoring, Reporting and Verification of CO2) is part of EU’s regulatory strategy to reduce greenhouse gas emissions, which for shipping are 98% CO2. It requires ship owners and operators to monitor, report and verify CO2 emissions for vessels larger than 5,000 gross tonnage (GT) calling at any EU and EFTA (includes Norway and Iceland) port.
Total and CMA CGM have signed an agreement covering the supply of around 300,000 tons of liquefied natural gas (LNG) a year for 10 years starting in 2020.
Better implementation of IMO standards, improving capacity building, enhancing the performance of the Secretariat and promoting a global approach and awareness are the cornerstones of IMO Secretary-General Kitack Lim’s vision for the London-based United Nations agency.
The shipping industry has found itself in the middle of a global financial crisis at a time when the supply of ships exceeded, even greatly, the demand for ships. This has led to a huge decline in freight rates for just about every type of ship, creating a great number of non-performing loans for the banks that prior to 2008, inebriated by the high freight rates and booming new-building market, had hugely invested in ship finance.