In one of the longest running sagas in shipping regulation the IMO’s Ballast Water Management (BWM) has finally met its ratification criteria, meaning it will come into force in 2017.
The filing for court receivership by Hanjin Shipping on 31 August was the biggest bankruptcy ever seen in container shipping and has sent shockwaves through industry and the global supply chain.
It has been a dramatic year for container shipping with overcapacity, difficult markets and consolidation dominating the headlines.
Hyundai Merchant Marine (HMM) could take over assets from bankrupt Hanjin Shipping with Korean officials pushing the idea.
A day after lenders pulled their support for Hanjin Shipping the company said it would file for receivership.
BW Offshore is targeting to reduce offshore staff costs by 10 – 15% as it reports a $7.3m net loss in for the first half of 2016.
US Federal Maritime Commissioner (FMC) William Doyle is concerned over proposed joint purchasing agreements by the planned Ocean Alliance.
After close to three months of exclusive discussions, the acquisition of the Baltic Exchange by Singapore Exchange (SGX) is expected to occur towards the end of November 2016.
The Maritime and Port Authority of Singapore (MPA) has introduced a new incentive that will see qualifying Singapore-listed maritime firms benefiting from a maximum of SGD50,000 ($37,000) to help with the production of a ‘Sustainability Report’.
Concerns have been raised over the detention of the Hong Kong-flagged capesize bulker Five Stars Fujian which is being held under detention by the Australian Maritime Safety Authority (AMSA) off the port of Gladstone, Australia for breaches of the Maritime Labour Convention (MLC) relating to lack of provisions and unpaid wages.