Global Maritime Industry Braces for Regulatory Sanctions
OFAC has brought close to 800 actions against maritime vessels.
Shipping industry has been thrown into chaos by an unprecedented escalation of sanctions activity.
Freight rates soared on the blacklisting of Chinese shipper...
Major Shipping Organizations Team Up To Support Maritime Digitization
Under IMO’s FAL Convention1, public authorities are now required to set up systems so that this information transfer occurs digitally.
A new partnership between IMO, WCO, UNECE and ISO has been signed to...
Shipping Line Charged for Dispute Over Vessel Call Agreement!
Global Container Terminals (GCT) has confirmed it will take legal action against A.P. Moeller-Maersk, the world’s largest container shipping line.
The trial is over the decision to move vessel calls to from GCT...
IMO and UN Join Hands To Minimize Marine Plastic Litter in Oceans
United Nations and IMO have joined hands to tackle marine plastic litter issues.
They have formally signed an agreement to implement the GloLitter Partnerships Project.
It will help to prevent and reduce marine...
Floating Storage Clauses – What Is Covered & What Isn’t?
The practice of charterers using oil tankers for floating storage is certainly not a new concept. What’s different with the current demand for storage is the huge number of ships being time chartered for...
Infographics Show Global Economic Impact of COVID19!
According to a BBC report, The coronavirus outbreak has left business around the world counting the costs as it spread from China to every possible country in the world, making 2020 a disastrous year...
COVID19 Oil Crisis Likely To Shut Down the Oil Industry!
The oil prices have plunged deep.
Ships dawdle at sea with unwanted cargoes.
Traders take creative paths to stash oil.
The final chapter in the oil crisis has opened.
Therefore, great swathes of...
The Economics of Storing Oil – How Filling Up Old Tankers Work?
In yet another example of the world economy shell game coming to a hard stop amid the coronavirus pandemic, oil is incredibly cheap as demand plummets and speculators panic sell and even pay others to...
Huge Demand for JA Vessels As Oil Majors Rush To Ship Oil Overseas!
According to a Reuters report, oil traders are hiring expensive U.S. vessels, normally only used for domestic shipments, to store gasoline or ship fuel overseas, five shipping sources said, in a sign of the...
1.3 Billion People But Only 1000 COVID19 Deaths – How Did They Do It!
A nationwide lockdown in India's 1.3 billion population seems to be working because of early imposition and other effective measures.
The blanket ban of flights seemed to have curtailed the numbers.
A low...