International shipping association BIMCO has published two sulphur content-related bunker clauses dealing with general compliance and the transitional period for the International Maritime Organization’s 2020 global sulphur limit in marine fuel. The two clauses are BIMCO 2020 Marine Sulphur Content Clause for Time Charter Parties and BIMCO 2020 Fuel Transition Clause for Time Charter Parties. […]
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U.S. Navy’s Third and Final Zumwalt Destroyer Launched at Bath Iron Works
The third and final vessel in the U.S. Navy Zumwalt-class stealth destroyer program was launched Sunday at the General Dyanamics Bath Iron Works shipyard in Bath, Maine. Like the two other ships in the class, the launching of the future USS Lyndon B. Johnson (DDG 1002) was actually a multi-day process that included moving the ship from […]
Moody’s Cuts Maersk’s Credit Rating Amid Fears for Box Shipping Sector
By Mike Wackett (The Loadstar) – Maersk has had its credit rating cut by ratings agency Moody’s to one grade above junk, with the agency concerned about a “significant downside” for the container industry. Moody’s said on Friday it was downgrading Maersk from Baa2 to Baa3, which is at the bottom of its investment grade bond […]
Australia Revokes MV Jawan’s Livestock Carriage Certificate
The Australian Maritime Safety Authority (AMSA) has revoked the Australian Certificate for the Carriage of Livestock (ACCL) for the Panamanian-flagged livestock carrier, MV Jawan, because the vessel’s approved stability data could not be verified. The Jawan was scheduled to depart from the port of Portland on a journey from Australia to Pakistan today after the […]
China’s Cosco Plans $200 Million Abu Dhabi Container Terminal Expansion
By Stanley Carvalho ABU DHABI, Dec 10 (Reuters) – China’s Cosco Shipping Ports Ltd plans to expand its container terminal in Abu Dhabi in the next three to five years with an investment of $200 million as more Chinese companies set up in the emirate, its vice-chairman and managing director said. Cosco’s new container terminal, with […]
Rhine River Shipping Returns to Normal as Water Levels Rise
HAMBURG, Dec 10 (Reuters) – Freight shipping on the river Rhine in Germany has returned to normal after heavy rain in the past week raised water levels, traders said on Monday. Water levels on the Rhine had been low for around six months after a hot dry summer and a dry autumn, forcing vessels to […]
Huawei Arrest Keeps U.S.-China LNG Spat Alive, Developer Says
By Naureen S. Malik (Bloomberg) — The arrest of a top Chinese technology executive means the tariff war that ensnared liquefied natural gas may not have reached a cease-fire, according to the developer of a U.S. project to export the fuel. Liquefied Natural Gas Ltd. has been cautioned by prospective Chinese buyers of supply from […]