Shipping must meet marine fuel sulphur limits of 0.5% by 2020, delegates at the Marine Environment Protection Committee (MEPC) 70 agreed on Thursday.
The Hangzhou Intermediate People’s Court apparently made the bankruptcy order on 25 October after Zosco's parent, Zhejiang Transportation Investment Group, applied to liquidate the indebted shipping company.
Terminal operators and stevedores make up the second-largest group of organisations making financial claims against Hanjin Shipping.
Nordic American Tankers (NAT), the US listed Suezmax owner that is managed from Norway, said it has entered into agreements with Samsung Heavy Industries Co in South Korea, to build three Suezmax tankers of about 157,000 dwt.
Two Scandinavian banks, Nordea and DNB – both major lenders to the shipping, offshore services, and the offshore oil and gas sectors – warn that trading conditions will remain challenging across the board.
South Korea’s second largest shipbuilder has managed to turn a Q2 loss into a Q3 profit.
The sale of the lease for Port of Melbourne led the mega transport and logistics M&A deals in the third quarter.
Scrapping activity has risen so far this year and will pass the previous high, according to BIMCO.
Hanjin Shipping has decided to lodge another appeal over the arrest of one of its ships on bareboat charterhire purchase (BBCHP), but this is expected to be a lengthy process.
Maersk Line has taken a Panamax container ship that stricken Hanjin Shipping recently redelivered to a tonnage provider.
Low oil prices have been weighing down the vessel sector that supports offshore drilling in the US Gulf for the past two years and it may be another year before drilling activity begins filling up the excess shipping capacity.
Iran’s Ports and Maritime Organisation (PMO) is understood to have issued a general pre-qualification invitation to international operators to enter Bandar Abbas container terminal in a scheme aimed at the existing Terminal 1 as well as the future Terminal 2, currently under construction.
Scandlines is introducing two hybrid-fuel ferries for service linking Gedser and Rostock