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The initiative looks to broaden its scope of membership to shipowners, while its 37 members already represent 17% of total bulk cargo transported annually
The ubiquity of English law and London arbitration makes the UK a natural centre for barristers and solicitors specialising in shipping, although the US and Asia also play leading roles
Joint statement ahead of COP28 from the bosses of box lines Maersk, CMA CGM, Hapag-Lloyd, Mediterranean Shipping Co and car carrier Wallenius Wilhelmsen called for even faster action from regulators
The Hong Kong Convention will enter into force on June 26, 2025, following the confirmation by Bangladesh and Liberia earlier this year, which finally enabled all the requirements for the convention on environmentally safe and sustainable ship recycling to be met after its adoption in 2009
Member states of the International Maritime Organization have ousted Russia from the IMO Council. At the same time, Liberia was elected as a member of the organisation’s executive body for a two-year term
The 980,000 barrels of Iranian crude oil seized by US authorities off Suez Rajan have been sold to an undisclosed buyer for $83.5m. It brings the total value of seized oil sold by the US to $290m
Gard issues loss prevention advice for vessels transiting region
The world’s leading classification societies are fundamental to the decarbonisation and digitalisation of shipping. The year 2023 has seen a flow of communications from class regarding approvals in principles for new carbon-reduction technology and concept designs for alternative fuel vessels — even including the once-derided nuclear power. Meanwhile, LR’s Nick Brown steps down from two-and-half years as chairman of the International Association of Classification Societies, to be replaced by Rina’s Roberto Cazzulo in January 2024
Capability to offer carbon-neutral shipping solutions at scale will become a new source of competitiveness for carriers, says a research report from the bank
Bankrupt US home goods retailer Bed Bath and Beyond has filed an FMC complaint against Swiss liner MSC alleging exploitative and coercive behaviour, and seeking at least double digits in damages
Danish Ship Finance suggests a voyage performance index would prepare shipping for a more expensive future, as it would reward vessel operators that attain better performance while ensuring cargo owners pay for it
Assembly to debate a resolution to address the dangerous and illegal shipping practices of a dark fleet of sanctions-circumventing tankers and decide whether to expel Russia from of the IMO Council
The EU Emissions Trading System is going to be difficult and expensive for shipping. It is without doubt flawed and there are many questions to be answered, but it will start to sift those who have been genuinely charting a new course from those who have been secretly hoping all this will just go away
Ships will start paying for CO2 emissions on voyages that include an EU port from 1 January 2024, while preparations are ongoing amid new clarifications from the European Commission on implementation
Asian shipping stakeholders use platform of Hong Kong Maritime Week to air last minute ETS gripes, with concerns ranging from unsolved charterparty liability allocation to possible equitable competition
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