CMA CGM Pulls Out of Iran due to U.S. Sanctions
French shipping major, CMA CGM said on July 7 that it was exiting Iran after the Trump administration imposed sanctions on companies operating in the country. The company’s Chairman and…
IMO: World Maritime Day 2019 to Focus on Women
“Empowering Women in the Maritime Community” has been selected as the World Maritime Day theme for 2019, the International Maritime Organisation IMO informed. As explained, this will provide an opportunity…
Suez Canal records highest ever revenues for 2017-18- official
The Suez Canal made record revenues during the fiscal year 2017/2018. Chairman of the Suez Canal Authority, Mohab Mamesh, said that the revenues of this year is the highest in…
Hyundai Heavy sacks a third of offshore executives
South Korea’s Hyundai Heavy Industries has cut a third of the executive workforce in its offshore and engineering division, Yonhap said citing the shipbuilder. The world’s biggest shipbuilder is shrinking…
Posidonia 2018: Shipowners Stand Alone in Cutting CO2 Emissions
John Platsidakis The new environmental regulations have been at the center of attention at this year’s edition of Posidonia trade show in Athens, Greece, which took place from 4-8 of…
ONE joins big 3 lines in levying emergency bunker surcharges
Japanese liner company ONE is the latest to impose an emergency bunker surcharge, joining industry giants Maersk, MSC and CMA CGM which all imposed surcharges last week. The charges, which…
Uganda imposes WhatsApp and Facebook tax ‘to stop gossip’
Uganda's parliament has passed a law to impose a controversial tax on people using social media platforms. It imposes a 200 shilling daily levy on people using internet messaging platforms…
US Coast Guard ends search for Carnival Paradise passenger
The United States Coast Guard USCG has suspended the search for a passenger who reportedly fell overboard from the Carnival Paradise cruise ship. The man went missing about 85…
IMF doubts Nigeria’s capacity to repay debts
The International Monetary Fund on Monday expressed concern over Nigeria’s capacity to repay its debts and stressed the need for the Federal Government to mobilise more revenues domestically. The country’s…
Ghana central bank cuts policy rate to 17%
Ghana’s central bank cut its benchmark interest rate by 100 basis points to 17 percent on Monday, saying it was on track to meet its medium-term inflation target as the…
