Classification seen as more relevant than ever

In an increasingly complex, fast changing and challenging market, the role of the classification society is more relevant than ever, said Mr Knut Ørbeck-Nilssen, CEO of DNV GL – Maritime, at a press conference ahead of Posidonia trade fair in Athens. Class enables innovation in shipbuilding, guides owners and operators through a demanding regulatory landscape
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The U.S. and China’s on-again, off-again trade dispute is casting a shadow over Asia-Pacific nations’ efforts to further open up global trade, a senior Australian government official said. Delegates at an Asia-Pacific Economic Cooperation forum in Port Moresby this weekend pledged to keep pursuing a free and fair international trading regime, in the face of
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Central banking is becoming increasingly complex and difficult to understand, supporting the case for new ways to communicate, European Central Bank board member Benoit Coeure said. “Based on common measures of text readability, the introductory statement delivered at our last ECB press conference was only accessible to university graduates, who constitute only around a third
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The International Maritime Organization (IMO) has agreed on a definition of so-called Maritime Autonomous Surface Ships (MASS) as well as on a framework for analyzing the applicable IMO regulations. These are said to be important first steps towards international regulation. At the meeting of IMO’s Maritime Safety Committee (MSC), held in London from May 16-25, a
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In recent years the focussed has been greater not only on environmental consciousness but have also included new technological developments in the maritime industry GENEVA: Vincent Wee spoke to International Chamber of Shipping (ICS) Secretary-General Peter Hinchliffe and Chairman Esben Poulsson about the complexities of achieving successful yet cost effective regulations for shipowners. The role
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Dutch shipowner Seatrade was recently found in breach of the EU Waste Shipment Regulation (the “Waste Regulation”) after selling four reefer ships for scrapping in India, Bangladesh and Turkey in 2012. This case raises interesting questions about the interaction between the Waste Regulation and the EU Ship Recycling Regulation (the “Recycling Regulation”), attracting considerable interest
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Insurance market leaders have been urged to apply their policy-reforming zeal to key areas of marine claims lacking clarity – with fishing vessel claims illustrating some of the dilemmas. The call came from Willum Richards, chairman of the Association of Average Adjusters, as he lauded the London market’s Joint Hull Committee for its decision to
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A rise in global protectionism, instigated by the Trump administration, could result in higher interest rates that could reverse the economic growth enjoyed since the Great Recession almost a decade ago, according to Dr Borislav Bjelicic, Professor at the University of Mannheim, Germany. Speaking to delegates at the WACO System’s recent Annual General Meeting (AGM)
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Indian Register of Shipping (IRClass), a leading international classification society, has secured ISO/IEC 27001 certification for its Information Security Management System from British Standards Institution (BSI). The ISO 27001 standard requires the management to systematically examine its organisation’s information security risks – threats, vulnerabilities and impacts, implement a coherent set of information security controls to
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Where a bill of lading holder fails to take delivery within a reasonable time, the carrier may be entitled to land and store the goods at the cost of the bill of lading holder. This common-sense position accords perfectly with the Bill of Lading Act 1856, from which several Nigerian court decisions on cargo claims
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