Moore Stephens welcomes EC decision to maintain maritime state aid guidelines

International accountant and shipping adviser Moore Stephens has welcomed a decision by the European Commission to keep in place in their current form the guidelines relating to state aid to maritime transport, which include EU tonnage tax regimes. The decision follows an EC review of the guidelines and has been formally communicated to the European Community […]

Wärtsilä exhaust gas cleaning systems selected for three Color Line vessels

Power solutions and services provider Wärtsilä has been contracted to retrofit its open loop scrubber systems on three additional vessels owned by Color Line, Norway’s largest cruise and ferry operator, with 36 shipsets, totaling 75 scrubber units, either already installed or in the pipeline. Each vessel will be fitted with four systems designed to rid […]

Attack on two vessels in four days indicates resurgence of Somali piracy

Following the attack on a British-managed vessel on Friday in the Somali Basin, UK maritime intelligence provider Dryad Maritime Intelligence has renewed its calls for heightened vigilance, stating that just one successful hijack and holding to ransom of a large ship could revive Somalia’s maritime criminal infrastructure. The British-managed Island Splendor was attacked by two […]

LCH.Clearnet: Cleared freight volumes rise with commodities demand from China

LCH.Clearnet has announced that cleared freight volumes more than doubled in September compared to a year earlier, as traders increased their hedged positions to mitigate their exposure to freight prices. Rising iron ore imports by China and declining availability of shipping in the Atlantic Basin, which was due to an increase in transatlantic shipments, pushed […]

Evergreen bullish on US export growth

Bronson Hsieh, Second Vice Group Chairman of the Evergreen Group, which operates global carrier Evergreen Line, has spoken positively about US export growth, claiming “American manufacturing and exports will be greatly restored,” accelerated by the production of shale gas and oil, changes of China’s production costs and rising incomes in emerging markets that demand US-made […]