MS Notices
Somali pirates, Saudi ship owner say ransom agreed
piracy
Somali pirates and the owners of a Saudi ship held since March with 14 crew said on Tuesday they had agreed to a ransom of around $2-3 million, and a newspaper withdrew a report that the ransom was $20 million “We (pirates) and the owners of the Saudi ship had agreed on $3 million not [...]
Somalia-based piracy remains an intractable problem
piracy
It’s impossible to consider Somalia’s pirates in a vacuum. The evolution of piracy in Somalia is inextricably linked to the collapse of Somalia as a nation state, ravaged by conflict between rebels and government troops. The key pirate enclave is in northeastern Somalia, in a region known as Puntland where the pirates live as an [...]
Tankers to face pressure despite rise in oil demand
chemical-tanker
The current tanker market appears to be ending the year in a much better state than many protagonists anticipated, especially in the crude sector. However, 2010 will be a challenging year even with the anticipated revival in oil demand, according to a report. “The tonnage supply situation will continue to be a major headache in [...]
Copenhagen: support for a global tax on shipping and aviation grows
cargo
If agreed at the tense Copenhagen summit, the money is likely to go towards a £100bn “climate aid” fund to help poorer states deal with global warming. Either a tax or emissions trading system specifically for these industries could provide up to a quarter of this amount. The UK Government prefers the concept of global [...]
Several tankers sold for scrap last week
tanker
Several tankers were sold for scrap last week, including an old LPG carrier, along with other old dry bulk carriers. Indian breakers continued their recent competitive streak, securing last week two 1985-built chemical tankers - the 17,654 dwt Galaxy and the 50,600 dwt Ocean Grace. Though details on deal price for the Ocean Grace are [...]
Experts Suggest Modernization of Shipping Law
vlcc
German shipping law has taken a step towards extensive reform after a group of experts - following five years of deliberation - produced a draft for new legislation, including a detailed statement on the reasons for each modification. The minister of justice established the group of experts in order to modify a law which came [...]
Shipping lines raise levy to offset piracy losses
piracy
Global shippers have raised the piracy levy due to an increase in pirate attacks off the Coast of Somali. The move is aimed at offsetting potential losses, however it is expected to push up the cost of shipping into the East African region. This means that shippers in the region, already overburdened by the piracy [...]
Fate of shipping in hands of Korea and China
cargo
According to Arlie G. Sterling, president of shipping consulting firm Marsoft, “South Korea and China will determine the destiny of global shipping industry. Newbuildings to be delivered from the two countries and China’s volume of trade will decide whether shipping market recovers or continues to struggle.” He went on to say that “At present, shipping [...]
Piracy Attacks Surpass 2008 With Somalia Incidents
piracy
Global piracy attacks so far this year exceeded the total for 2008 after a surge in incidents off the coast of Somalia, the International Maritime Bureau said. The bureau’s Piracy Reporting Centre was notified of 306 attacks in January through September, compared with 293 during all of last year, the London-based bureau said today in [...]
Kochi port achieves record in handling
Kochi, Oct. 20 The Kochi Port has achieved a productivity record in cargo handling by unloading from MV Luxury SW 10,024 tonnes of industrial salt in one day - the highest-ever.
The ship, with 23,110 tonnes of salt for Travancore Cochin Chemicals, is berthed at Q6 berth of Ernakulam Wharf.
In the second week of October, the [...]
