The 2020 Global Sulphur cap

In 1997, the International Maritime Organisation (“IMO”) adopted Annex VI to the International Convention for Prevention of Pollution from Ships (“MARPOL Convention”) in order to tackle the air pollution caused by shipping. On 1 July 2010, a revised Annex VI was entered into force and set stricter requirements seeking to control ships’ airborne emissions. The
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Global Ship Lease, Inc., a containership charter owner, announced its unaudited results for the three months and nine months ended September 30, 2018. Third Quarter and Year To Date Highlights – Reported operating revenue of $35.9 million for the third quarter 2018. Revenue for the nine months ended September 30, 2018 was $107.0 million –
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Global Ship Lease has signed a merger deal with Poseidon Containers to create a containership charter owner focused on mid-sized and smaller vessels. The company signed the definitive agreement with Poseidon Containers Holdings LLC and K&T Marine LLC for a stock-for-stock transaction representing a total transaction value of over USD 780 million on an asset value basis. Global
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The number of seafarers in India has seen an unprecedented growth of 42.3 per cent due to various policy level changes brought in by the Government in the last four years, Minister for Shipping Mansukh Mandaviya said.  From 108446 seafarers in 2013, India now has 154349 seafarers. India now provides 9.35 per cent of the
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TOKYO: India is going through a massive transformative phase and international agencies say the Country will drive the growth of the global economy in the coming decade, Prime Minister Narendra Modi said recently as he invited the Indian community in Japan to contribute actively in building a “new India”. The PM was in Japan to
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World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. This is the same amount that was produced in August and is 10.3 million tons (7%) more than was reported last year for September 2017’s production. The increase has been robust, but it has been Chinese
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Headline rates for shipping liquified natural gas (LNG) in Pacific and Atlantic basins stand at around $140,000 to $150,000 a day for a 160,000 cubic metre LNG tri-fuel diesel electric (TFDE) vessel, brokers say. That is a 6-year high and compares to Atlantic basin rates of $75,000 at the end of August and around $95,000
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The outlook for global growth in 2019 has dimmed for the first time, according to Reuters polls of economists who said the U.S.-China trade war and tightening financial conditions would trigger the next downturn. At the start of 2018, optimism about a robust global economic outlook was almost unanimous among respondents. But Reuters polls of
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Verifavia, a leading emissions verification company for the transport sector (aviation and shipping), on 22 October 2019 announced major cooperation’s with two of the world’s largest ship managers, namely Wallem Ship Management in Hong Kong and Zeaborn Ship Management in Hamburg (a consolidation of E.R. Schiffahrt and Rickmers Shipmanagement), to conduct verification services for European
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The Union of Greek Shipowners (UGS) remains firmly committed to the successful transition to the 0.5% global sulphur cap in marine fuels and the related dates that have been agreed at the United Nations International Maritime Organization (UN IMO). At the same time, it fully supports the effective implementation and enforcement of the new regulation
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