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New horizons in trade finance

Matthew Parish The market for financing commodities trades, long dominated by a handful of European banks, is becoming more restrictive. Major players have been tightening rules to exclude certain categories of commodities deals and reduce trade finance as a proportion of their total book of business. The...
April 5th, 2012 | Finance, Trade and Commerce | Read More

Titanic wreckage to be protected under UNESCO underwater heritage convention

Survey of underwater site. UNESCO/D. Frka 5 April 2012 – The wreckage of the passenger liner Titanic will now be protected by a United Nations Educational, Scientific and Cultural Organization (UNESCO) convention that seeks to safeguard wrecks, sites, decorated caves and other cultural relics underwater. Until...
April 5th, 2012 | Maritime History and Museums, Oceanology, Organisations, Salvage, Towage, Wreck Removals | Read More

ITF demands reinstatement of sacked unionist in Malaysia port

Megat Zamri, dismissed from Westports in Klang Megat Zamri, dismissed from Westports in Klang The ITF has called on a terminal operator in Malaysia to reinstate a worker who was sacked after he took part in a week of action. Megat Zamri, president of the West Ports Staff Union, which was set up to represent...
April 5th, 2012 | ITF, Politics and Government | Read More

HOT Port news from GAC

Your daily news service from ports around the world. In this HOT PORT NEWS, read about: Worldwide – March sees rise in Somali piracy Singapore, Singapore – Soil investigation off St John’s Island Chile, Coquimbo – New operator of multi-user terminal Panama, Panama Canal –...
April 5th, 2012 | Piracy and Terrorism, Ports & Terminals | Read More

GAC’s Monthly Intelligence Report – April 2012

GAC’s Monthly Intelligence Report – April 2012
Please find herebelow the Monthly Piracy Report for April 2012 from GAC Protective Solutions. For more information about GAC Protective Solutions please contact ake@gac.com AKE-GAC Piracy Report April 2012  A very well construed report which will give answers to many unanswered problems!  
April 5th, 2012 | News, Piracy and Terrorism | Read More

MAN Diesel & Turbo acquires Kappel Propeller Designs

MAN Diesel & Turbo acquires Kappel Propeller Designs
  Torben Johansen, Head of Propeller & Aft Ship Unit, MAN Diesel & Turbo shaking hands with Jens Julius Kappel (right) after signing the contract for the Kappel design business concerning propellers and all affiliated intellectual property rights including software, on 29 February in...
April 5th, 2012 | Marine Equipment Products and Services, News | Read More

New African Mining Codes

New African Mining Codes
  Andrew Ridings, Partner, Holman Fenwick Willan New African Mining Codes The recent introduction of the Angolan Mining Code is one of a number of similar developments in African mining states. Zambia and Guinea have introduced new laws and regulations, and DR Congo is reviewing its 2002 Mining...
April 5th, 2012 | Legal, News | Read More

Off-hire, the CONWARTIME and Punctuation Marks

  James MacKay Off-hire, the CONWARTIME and Puncuation Marks Background The High Court recently determined that the hijack of a vessel by pirates was an off-hire event pursuant to an additional clause that provided for the vessel to be off-hire for capture/seizure, despite the incorporation of the...
April 5th, 2012 | Chartering, Legal | Read More

Insolvency and General Liens

Craig Neame Re La Senza Ltd (in Administration) [2012] All ER (D) 120 (Mar) A landmark decision by Sir Andrew Morritt, the Chancellor of the English High Court means that freight forwarders, liner shipping companies and road hauliers finally have a court judgment that they are entitled to enforce their...
April 5th, 2012 | Legal, Liner Shipping and Trade | Read More

Lloyd’s Register launches machinery damage and repair workshops

Lloyd’s Register launches machinery damage and repair workshops
Steve Robson One-day courses designed for superintendents, flag and port-state surveyors and related marine engineers Lloyd’s Register is offering Machinery Damage and Repair workshops to support marine superintendents and engineering personnel. Mechanical breakdowns are a serious problem for shipowners...
April 5th, 2012 | Classification Societies, Events, Maritime Education and Training, Safety and Security | Read More

Sale of the m/v Hellenic Carrier

Hellenic Carriers Limited, (“Hellenic” or the “Company”) (AIM: HCL), an international provider of marine transportation services for dry bulk cargoes, announces that, in continuation of its fleet renewal program, its wholly owned subsidiary Thasos Shipping Co. Ltd. (“Thasos”), the ship owning...
April 5th, 2012 | Sales and Purchases, Stock Markets | Read More

The Thirtieth Anniversary of the Atlantic Conveyor – 25 May 2012 approaches

The Thirtieth Anniversary of the Atlantic Conveyor – 25 May 2012 approaches
The Atlantic Conveyor's Memorial in Pembroke - photo by Peter N. Pontikos Perhaps the most famous merchant vessel to be lost in the Falklands war was Atlantic Conveyor, a 1, 200 teu containership built at Swan Hunter in 1970 and operated by Atlantic Container Line, a well known shipping firm at the...
April 5th, 2012 | Maritime Accidents, News, What Others Say | Read More

Diana Shipping Inc., announces time charter contract for the m/v “Melia”

Diana Shipping Inc., announces time charter contract for the m/v “Melia”
ATHENS, GREECE, April 5, 2012 – Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership and operation of dry bulk vessels, today announced that it has entered into a time charter contract with STX Panocean Co., Ltd., Seoul, through a separate wholly-owned subsidiary,...
April 5th, 2012 | Fixtures, Ocean Shipping | Read More

HOT Port news from GAC

HOT PORT NEWS from GAC Your daily news service from ports around the world. In this HOT PORT NEWS, read about: Singapore, Singapore – Soil investigation off Sungei Jurong Singapore, all ports – Mandatory enhances bunkering course for cargo officers Australia, Melbourne – Exclusion...
April 4th, 2012 | Flags, Ports & Terminals | Read More

Russia in with a Sporting Chance

Russia in with a Sporting Chance
The hosting of major sporting events will lead to an inbound tourism boom Russia is set tosee a 20% increase in visitor arrivals over the next four years fuelled by the hosting of major sporting events, reveals research unveiled today at WTM Vision Conference – Moscow. Russia is hosting an array of...
April 4th, 2012 | Conferences, Seminars, Forums, Tourism | Read More

Dr. Torsten Arens is the new Head of Management Board COO at HSH Nordbank

HAMBURG/KIEL The Management Board of HSH Nordbank has appointed Dr. Torsten Arens (44) as Head of Management Board COO. In this position Dr. Arens will be responsi-ble for all COO units in the Bank including IT, Operations and Services. He is taking over the duties of the previous general manager and...
April 4th, 2012 | Banking | Read More

GL Exchange Forum Szczecin: Managing Environmen​tal Obligation​s in Shipboard Operations

GL Exchange Forum Szczecin: Managing Environmen​tal Obligation​s in Shipboard Operations
Attendees at the forum look on intently as a presentation is given. GL regularly holds Exchange Forums which examine current issues of importance to the maritime industry. GL Exchange Forum Szczecin: Managing Environmen​tal Obligation​s in Shipboard Operations Szczecin/Poland, 4 April 2012 –...
April 4th, 2012 | Classification Societies, Conferences, Seminars, Forums, Regulatory | Read More

Fugro Undertakes Navitus Bay Geophysical Survey

Fugro Undertakes Navitus Bay Geophysical Survey
The "Aurelia" Following the success of the preliminary geotechnical coring programme in 2010, Fugro has successfully performed a detailed geophysical survey of Navitus Bay for Eneco Round 3 Development Ltd. Navitus Bay is to the west of the Isle of Wight and lies within Zone 7 of the Crown...
April 3rd, 2012 | Marine Equipment Products and Services, News, Oceanology | Read More

IMarEST Awards and Medals presented

Malcolm Vincent IMarEST Awards and Medals presented The IMarEST 2010/2011 awards for twenty two technical papers Recognition by one’s peers is always important, and the presentation of Institute of Marine Engineering, Science and Technology (IMarEST) awards and medals for technical examination results...
April 3rd, 2012 | Associations, HR | Read More

GL Noble Denton Wins Pipeline Industries Guild Award

Les Dawson, president of the Pipeline Industries Guild (left), and Richard Price, chairman of the Pipeline Industries Guild, present the 2012 Utilities award to GL Noble Denton senior engineer Dave Gregory (centre). GL Noble Denton has won the coveted Utilities category of the 2012 Pipeline Industries...
April 3rd, 2012 | Classification Societies, Energy, Marine Equipment Products and Services, Oil Platforms and Rigs | Read More

Lilaas sets the controls for Asia

Terje Akerholt Marine and offshore controls specialist Lilaas AS has reached its first direct service and distribution agreements in Asia, as part of its strategic plan to support increasing demand for its levers and joysticks. The company, which develops and manufactures all its products in the heart...
April 3rd, 2012 | Marine Equipment Products and Services | Read More

The price of a life…

Rhys Clift Somalian piracy: the price of a life. By Rhys Clift* The news of the release of Judith Tebbutt has brought the subject of the payment of ransoms back to the front pages of British newspapers. None would begrudge Judith Tebbutt or her family the joy and relief of her release. And yet one...
April 3rd, 2012 | Legal, Piracy and Terrorism | Read More

HOT Port news from GAC

Your daily news service from ports around the world. In this HOT PORT NEWS, read about: Australia, Hay Point – Force Majeure declared at mines Chile, Coquimbo – Updated port rates Panama, Cristobal – Port strike ended Ecuador, all ports – Ecuador National Holiday DATE: April...
April 3rd, 2012 | Ports & Terminals | Read More

Coastal Group opts for offshore AHC cranes from Cargotec

The high degree of reliability and performance expected from its offshore cranes has earned Cargotec orders from the wholly-owned subsidiaries of a Malaysian shipbuilding and vessel chartering group, Coastal Contracts Bhd In March Cargotec has secured new orders for two 100-tonne active heave-compensated...
April 3rd, 2012 | Marine Equipment Products and Services, Shipbuilding and Shipyards | Read More

Ecological repercurssions from Piracy and Terrorism

Ecological repercurssions from Piracy and Terrorism
Iro J. Theofanides Ecological repercussions of piracy and terrorist attacks at sea can be disastrous. By Iro Theofanides Piracy and terrorist actions at sea can result in incalculable human suffering as well as damage of various kinds to merchant vessels and their cargoes as the collateral damage involved....
April 3rd, 2012 | News, Piracy and Terrorism, Safety and Security | Read More