The Cape Town Agreement will also be a key tool in combating illegal, unregulated and unreported (IUU) fishing, which is an issue of concern for several countries. Source: www.imo.org www.shipdiary.com…
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Seafarers are key workers: Essential to shipping, essential to the world
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Two crew of a Malaysian offshore support vessel died on Tuesday after their ship hit a rig operated by state oil firm Petronas off the state of Sarawak on Borneo island. The Dayang Topaz rammed into the Baram B oil platform after its anchor cable broke in bad weather, Petronas and marine authorities said in…
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Ships’ recycling has taken a turn in favor of ship owners, as scarce tonnage has forced yards to compete for tonnage, leading to higher prices. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “a new week but unfortunately this did not relate to a fresh deluge of tonnage for Buyers to ingrain…
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Shipping finance transactions are characterized by peculiar risk factors principally on account of the shipping asset’s transient operations. The applicable rules and mercantile usages – reflective of this reality themselves – must therefore be adequately factored into financiers’ lending procedures and loan recovery strategies, whether they be banks or private investors. This article offers helpful…
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Officer availability varies significantly by nationality and rank, with important implications for recruitment, retention, and wage rates, particularly in light of tightening labor market conditions. Earlier in the year, Drewry projected that the current officer shortfall to crew the global merchant fleet would widen, despite the dampening effect of Covid-19, due to the reduced attractiveness…
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Image by David Mark from Pixabay www.shipdiary.com…
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A tanker holding 1,3 million barrels of petroleum is listing — which could spark a horrific oil spill. In the Gulf of Paria, a Venezuelan oil tanker holding about 80 million gallons of oil was parked for nearly 2 years. New images reveal that the ship is heavily listed on its side — which adds…
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Maritime Leaders Reimagine Global Seaborne Trade For A More Resilient, Sustainable, And Fair Global Economy. Transparency, cross-value chain collaboration, and public-private partnerships will be crucial to rebuilding the world economy post COVID-19 while addressing long-term challenges such as the climate crisis. Finding a new way forward for global seaborne trade was at the focus of…
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The International Maritime Organization ( IMO) struggled on 16 October to restore its website to the UN agency’s website that is constantly interrupted. The IMO website has been hacked 17 days ago and for 48 hours many IT devices of the organization have been shut down. “The interruption of web-based services was caused by a…
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Yesterday at the Colombo High Court, the Greek master of the heavily burned New Diamond VLCC had been fined 65,000$. The captain Sterio Ilias committed two allegations of the oil spill caused by the fire in the ship which killed a sailor last months and a lack of reporting of fire against the Marine Environment…
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