Ship recycling: Member States agree on ratifying Hong Kong Convention

The Permanent Representatives Committee (COREPER I) has found an agreement on a compromise text for a Council decision supporting the ratification of the Hong Kong Convention – the Proposal for a Council Decision concerning the ratification of or the accession to the Hong Kong International Convention for the Safe and Environmentally Sound recycling of ships, […]

IBIA asks bunker industry whether or not the customer is really getting value

Asian growth and global recovery are the topics for discussion at the International Bunker Industry Association’s (IBIA) gathering in Hong Kong next week (5th-7th November). But the underlying topic of debate at the conference will be ‘Is the customer getting what he pays for?’ This question is set against growth and global recovery and how […]

Vessel operating costs expected to rise over the next two years

Vessel operating costs are expected to rise by more than 3% in both 2013 and 2014, according to a new survey by international accountant and shipping consultant Moore Stephens. The survey is based on responses from key players in the international shipping industry, predominantly ship owners and managers in Europe and Asia. Those responses revealed […]

Alan Olivier is new Chairman of UK Club

Alan Olivier (pictured) has been elected Chairman and President of the UK P&I Club at their Board meeting in Bermuda on October 28th. He succeeds Mr Dino Caroussis who has retired from the Board. Mr Olivier, 53, Chief Executive Officer of Grindrod Limited, became a Director of the UK Club in 2000 and a Deputy […]

Cargotec to acquire Aker Solutions’ mooring and loading systems unit

Cargotec’s MacGregor has entered into an agreement to acquire Aker Solutions’ mooring and loading systems unit for an enterprise value of  approximately €180 million.   The unit, known by the Pusnes brand name, provides mooring equipment, loading and offloading systems as well as a wide range of deck machinery for the global offshore and shipping […]

International Bunkering acquires one of the oldest bunker brokering companies in the US

Bunker and lubricant trading company International Bunkering  has expanded its global coverage through US  the  acquisition of Glander International – the renowned US bunker brokering firm. This opportunity will be used to change the company’s name and to re-brand it in line with this expansion. All brand equities will be transferred from both companies, and […]

Foreign ship owners encourage China to resolve VAT problems

The Chairman of the International Chamber of Shipping (ICS), Mr Masamichi Morooka,  has written to the Chinese Minister of Finance, encouraging the Chinese Government to continue its efforts to find a solution to the problems created by the application of Value Added Tax (VAT), since 1st August, to the transport and logistics services provided by […]