GPSChemoil Secures Financing for Fuel Terminal Project

GPSChemoil has confirmed that financing for the construction of phase four of its storage terminal at Fujairah, United Arab Emirates has been sourced. The company secured the financing of the $90 million loan from a consortium of banks in Abu Dhabi, Dubai and Singapore. The new storage terminal will increase capacity in Fujairah from 95,000 […]

ASF SUPPORTS CCS LINER SHIPPING PROPOSAL

The Asian Shipowners’ Forum has announced its support for the Competition Commission of Singapore’s proposal to extend the block exemption for liner shipping until December 31, 2015. Currently, liner shipping agreements including conferences, discussion agreements and consortia are exempted from competition laws in the majority of Singapore’s trading partners including the USA, Japan and South […]

INTERNATIONAL TREATY TO ACT ON IMPACT of OCEAN INDUSTRY

On Monday October 18, delegates from around the globe gathered in Nagoya, Japan for the UN summit on biodiversity, the Convention on Biological Diversity (CBD) to determine measures to decrease the impact of human activities on the marine environment. The CBD is a legally-binding treaty consisting of 193 members – 192 governments plus the European […]

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