By Stephen Cunningham (Bloomberg) — U.S. refiners are getting stung by President Donald Trump’s efforts to keep consumer prices from rising in the runup to the 2020 election. The Trump administration is seeking to slow the implementation in 2020 of tighter fuel restrictions on the global shipping industry. The rules, which would slash by more than 80 […]
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Trump Administration Wants Phase-In of IMO’s 2020 Sulphur Cap
WASHINGTON, Oct 19 (Reuters) – The Trump administration wants pollution limits on ship fuels that a United Nations maritime agency will implement in 2020 to be phased in to protect consumers from any price spikes in heating and trucking fuels, a White House spokesman said on Friday. Under the International Maritime Organization rule, ships cannot […]
Accidents Prompt Pakistani to Halt Ship Breaking at Gadani Yards
Pakastani officials have reportedly shut down all ship breaking activities at Gadani yards after two separate accidents this month left three workers with critical injuries, the NGO Shipbreaking Platform said Friday. The first accident took place on October 11th when a tanker caught fire on the beach in Gadani. Fortunately, no casualties were recorded, but […]
Turkish Ship to Continue Exploration in Mediterranean, Energy Minister Says
IZMIR, Turkey, Oct 19 (Reuters) – A Turkish energy exploration ship will continue to operate in the Mediterranean Sea, the energy minister said on Friday, after Ankara said the navy stopped a Greek frigate from harassing the ship due to territorial disputes. Turkey, Greece and Cyprus’s internationally recognized Greek Cypriot government have long disputed their […]
Exxon Makes Major Bet on Brazil as Petrobras Eases Its Grip
By Sabrina Valle and Kevin Crowley (Bloomberg) — In a single year, Exxon Mobil Corp. has gone from being a tiny bit player in Brazil to the second-largest holder of oil exploration acreage, trailing only state-controlled Petroleo Brasileiro SA. The last 24 concessions the U.S. giant bought with its partners may hold 41 billion barrels, based on […]
Hong Kong-Flagged Bulk Carrier Attacked by Pirates Off Somalia
A Hong Kong-flagged bulk carrier was attacked by pirates off the east coast of Somalia this week showing the persistent threat of piracy despite the the decrease in number of incidents off the Horn of Africa. The attack occurred Wednesday, October 16th, when a group of four pirates armed with AK-47s approached the MV KSL […]
UK Reminds China of Importance of Maritime Law
LONDON, Oct 19 (Reuters) – British Prime Minister Theresa May stressed the importance of international maritime law in a meeting with Chinese Premier Li Keqiang on Friday, May’s office said in a statement. “The Prime Minister reiterated the UK’s firm commitment to the rules-based international system, including the importance of freedom of navigation and maritime […]