Members of the Organization of the Petroleum Exporting Countries (OPEC), excluding Iran, will earn about USD 700 billion in revenue from net oil exports in 2014, based on the US Energy Information Administration (EIA) short term crude oil market estimates. This means a 14% decrease from 2013 earning
The International Chamber of Shipping (ICS) said it has modified its stance towards the ratification by governments of the International Maritime Organization (IMO) Ballast Water Management Convention, which has still not yet entered into force having been adopted more than 10 years ago. According t
UNHCR has warned that the international community was losing its focus on saving lives amid confusion among coastal nations and regional blocs over how to respond to the growing number of people making risky sea journeys in search of asylum or migration. High Commissioner for Refugees António Guterr
Ocean liners CMA CGM and Emirates Shipping Line plan to suspend port calls at Kenyan port Mombasa amid worsening congestion. The decision applies in particular to their joint Middle East/Indian Sub Continent-East Africa Swahili Express/GIA which comprises of 4 CMA CGM vessels and two vessels from Em
Abu Dhabi Ports Company (ADPC) has launched a new innovative port community system project called Maqta Gateway, a system that will serve the community by interlinking all of the relevant parties involved in Abu Dhabi’s growing import and export trade business. Maqta Gateway will offer ports, export
As 2015 nears, many of us look towards the future with plans to improve our lives: perhaps you’ll pledge to join a gym, find a more lucrative job, or see more of the world. For mariners, the New-Year’s resolution may involve broadening horizons or exploring seas you’ve never sailed before. If this i
United Arab Shipping Company (UASC) said it will open a wholly-owned representation office in the Swiss market as of 1st of January 2015. UASC’s new agency in Switzerland (UASAC Switzerland GmbH) will be a subsidiary of UASAC Deutschland GmbH and will take over all agency activities from Fiege Logis
Dubai-based terminal operator DP World plans to acquire 10% of goods traded on global level by the end of the year, the company’s Chairman Sultan Ahmed bin Sulayem is quoted as saying by the Daily News Egypt. As revealed by bin Sulayem during a media forum on ports held in Dubai last week, the compa
With crude oil down to its lowest price in five years last week, all carriers stand to gain from lower fuel costs, but the competitive and over-supplied nature of the market means that the principal beneficiary will be shippers, according to Drewry Shipping Consultants. If bunker fuel prices were to
United Nations’ International Maritime Organization (IMO) has launched a number of initiatives for eliminating paperwork and reducing the administrative burdens imposed on global shipping. The aim is to make it easier for seafarers, shipowners and maritime administrations to meet the regulations and
The International Transport Workers’ Federation called on implementation of new International Maritime Organization (IMO) requirements on safe manning of vessels. Over the past three years the IMO has redefined the concept of safe manning of vessels and as a result, as of January 2015, conditions sh
Overall confidence levels in the shipping industry fell during the three months to November 2014 to their lowest level for two years just nine months after reaching a six-year high, according to Moore Stephens’ latest Shipping Confidence Survey. The survey revealed increasing concern about the high
The International Maritime Organization (IMO) has together with other UN agencies called for concerted action from the international community to address the issue of loss of life, injury, trauma and serious human rights violations affecting migrants, asylum-seekers and refugees traveling by sea. In
DP World’s third cruise terminal at Mina Rashid, Dubai was inaugurated on Thursday, December 11 by His Highness Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai. DP World said that the Hamdan bin Mohammed Cruise Terminal is set to be the world’s largest single, covered cruise
