Changing Patterns in World Trade Bring Unforeseen Liabilities
In a speech to be given at the TOC Container Supply Chain: Middle East Conference on December 9, Andrew Kemp, Regional Director EMEA of the freight transport insurance…
BOEM Proposes Eastern Gulf of Mexico Lease Sale
As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, the Bureau of Ocean Energy Management…
BMT Surveys Expands Into Switzerland
BMT Surveys (BMT), a subsidiary of BMT Group Ltd, an international design, engineering and risk management consultancy, has announced the opening of a new office in Geneva, to support its rapid expansion across Europe. Providing further support to clients in Switzerland, the office will focus on P&I, Hull and Machinery, Cargo Insurance and maritime law through BMT’s global survey network, based in more than 250 ports worldwide.
Aker Solutions Bullish on Future Financial Returns
On its capital markets day, Aker Solutions' Executive Chairman Øyvind Eriksen says: "While we will continue to build Aker Solutions, the focus on topline growth will be toned down and more attention will be paid to growing our profit and share price," Executive Chairman Øyvind Eriksen says. The company announce that all business areas are committed to improvement programmes that will start translating into double-digit profit margins for Aker Solutions and an improved return on equity.
New Report on Canada's Marine Oil Spill Response Capabilities
The report aims to improve Canada's system for ship-source oil spill preparedness and response in order to better protect the public and the environment. "I want to thank the panel for its detailed, thoughtful work, and the invaluable expertise they have brought to this critical issue," said The Honourable Lisa Raitt, Minister of Transport. "I look forward to studying the report, speaking with stakeholders about their views, and discussing it with my cabinet colleagues.
Atlantic Basin Crude Oil Surplus Bound for Asian Markets Says Report
The growth in crude production in the Atlantic Basin will have a profound impact on regional crude supply/demand balances. According to PIRA Energy Group, a sizeable crude surplus will develop within the region, and crude will be forced to seek markets elsewhere, primarily in the rapidly growing countries in Asia. The Atlantic Basin is broadly defined as including the Americas, Europe, and Africa.
NZ Safety Agency Alotted Extra Funds on Back of Shipwreck Report
New Zealand Government Transport Minister Gerry Brownlee has announced a $2 million package to help Maritime New Zealand (MNZ) improve New Zealand’s wider maritime response capability following an independent review of its response to the grounding of the container ship 'Rena' off the coast of Tauranga in October 2011. Conducted by former Secretary of Foreign Affairs and Trade Simon Murdoch, the review identified several areas for improvement.
Global Dry Bulk Carrier Newbuilding Orders on the Rise
Starting with the large sizes in dry, Oldendorff Carriers are reported to have declared the sixth in a series of 207,000 DWT Newcastlemax at HHI, with delivery in the second quarter of 2015. Clarkson Hellas report that at Hanjin Subic, STX Pan Ocean have contracted two firm 150,000 DWT Capesize, planned for delivery in the second half of 2016 and for charter to KEPCO. One order to report in the Kamsarmax sector…
Russia Increases LNG Export Potential
Russian President Vladimir Putin has signed a law on the liberalization of exports of liquefied natural gas (LNG). According to the document, two new categories of license holders are entitled to the right to export LNG, in addition to Gazprom, reports Arctic-Info. The authorisation gives the right to export LNG to license holders of subsoil resources of federal importance, which are licensed for construction…
