A carnet is an international customs and temporary export-import document. It permits a holder to temporarily carry or send merchandise into certain foreign countries, for display, demonstration or similar purposes, without paying duties or posting bonds. There are two types of carnets issued in U.S
The depressed dry bulk market could recover partly in 2015 and underlying earnings could improve marginally, according to Drewry Maritime Equity Research (DMER). In 2014, the value of equity market participants in listed dry bulk companies eroded massively, with many companies losing more than half
The claim that in today’s information age, with open source media instantly available via mobile devices or at the desk, the ability to identify and analyse security threats before a voyage is considered should not be taken for granted, as explained by maritime intelligence company Dryad Maritime. T
Limited economic growth potential and the slow pace of recovery of the global economy is only easing the pain in the global shipping industry to some degree, according to BIMCO. While the industry continues to suffer from oversupply in the freight market, the International Monetary Fund (IMF) has fu
Nasdaq-listed liquefied natural gas (LNG) shipping company Golar LNG has completed the sale of its ownership interests in the companies that will own and operate the floating storage and regasification unit (FSRU) Golar Eskimo to Golar LNG Partners for USD 390 million. Golar LNG Partners financed th
Thirty-five ships were detained as a result of the Concentrated Inspection Campaign (CIC) on STCW Hours of Rest carried out in the Indian Ocean MOU region between September 1 and November 30, 2014. During the campaign, member Authorities of the IOMOU carried out inspections of 1623 individual ships
BIMCO has launched a new vetting system designed to gather information on the quality of the facilities and service at dry bulk terminals, the ultimate aim being driving improvement at terminals around the world. To gather the information, seafarers will be asked to complete a quick survey each time
The Turkish Coast Guard intercepted on January 18 a general cargo ship carrying 333 immigrants, mostly Syrian refugees, attempting to reach Italy, Hurriyet Daily News reports. Shortly after being tipped off that the 90-metre long, Togo-flagged merchant ship Burçin was spotted in Turkey’s Mediterrane
Qatar Chemical and Petrochemical Marketing and Distribution Company (Muntajat) signed a two-year contract with Qatar Navigation (Milaha) for the time charter of the Liquefied Petroleum Gas (LPG) carrier Almarona to primarily transport ammonia exports from Qatar to Muntajat customers around the world
Ships’ costs structures will change as increased bunker costs are unavoidable due to the latest 0.1% Sulphur Directive for the Emission Control Areas (ECAs), which came into effect January 1, according to Karen Jacques, Dryad Maritime’s Director for Asia Pacific. There will inevitably also be additi
Singapore based port operator PSA International handled 65.44 million Twenty-foot Equivalent Units (TEUs) of containers at its port projects around the world in 2014. The company’s volume increased by 5.8% over 2013 with PSA Singapore Terminals contributing 33.55 million TEUs (+4.1%) and PSA termina
Norway’s maritime insurance company Gard has issued a warning regarding recently observed attempts to export crude oil originating from Iran in breach of applicable sanctions using ship to ship (STS) transfers at Khor Fakkan in the United Arab Emirates. The oil is typically described as of Iraqi ori
Ship efficiency remains just as relevant and important in a bearish oil market as it does when shipowners have to pay over USD 600 for a tonne of Heavy Fuel Oil, Newport Shipping UK said in a release. Hakan Ozcan, the Chief Financial Officer of Ecoships, the technical ship management arm of Newport
The International Maritime Organisation (IMO) has published a report containing the main findings and conclusions of the public consultation undertaken by the IMO on the reduction of administrative burdens in maritime regulations. 60% of those involved in the online consultation named ‘Have Your Say
