19 JAN 2021 Shipowners have limited options to access financing for ship repair, given the capital-intensive nature of vessel repairs also represents a financial risk for shipyards. Typically, a shipowner must fund the entire capital cost of vessel repairs from its own cash resources, although it may in exceptional cases …
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18 JAN 2021 A U.S. State Department decision to blacklist Yemen’s Houthi rebel group may interfere with efforts to prevent a massive spill in the Red Sea – and lead to starvation on shore. On January 10, U.S. Secretary of State Mike Pompeo designated the Iran-backed Houthi rebel group (also …
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17 JAN 2021 On Saturday (16TH JAN’21), Iran conducted a test of its medium-range ballistic missiles over the Indian Ocean, landing at least one within 100 miles of the USS Nimitz Carrier Strike Group. At least one other missile landed within 20 miles of a merchant vessel, U.S. Navy officials told …
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16 JAN 2021 BW Offshore, a provider of floating production services to the oil and gas industry, is reporting that two workers were killed in a gas accident aboard one of the company’s floating storage vessel off the coast of West Africa. According to a statement from the company, the …
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15 JAN 2021 Frank Coles has resigned his post as CEO of ship management firm Wallem Group and will be departing soon, the company announced Friday. The managing director of Wallem Shipmanagement Ltd., John-Kaare Aune, will be taking the helm until a permanent replacement can be found. “As many will …
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14 JAN 2021 With growing calls from manufacturers, retailers and trade associations for governments to increase their oversight and regulations of the global shipping industry, the World Shipping Council issued an analysis in defense of carriers. Citing the unparalleled disruptions to the global supply chain from the pandemic, the trade …
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