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UASC: Shipping Alliances Will Stifle Smaller Operators
01/10/2014 12:03
UASC President has projected a bright outlook for major box shippers who have been struggling with depressed freight rates and overcapacity ever since the global financial crisis of 2008.
However, small-scale shipping companies might get muscled out of the business by the...
MedCruise elects C Salvado as President and a new bod
24/09/2014 11:48
The 45th MedCruise General Assembly that was held in Barcelona, Spain elected Mrs Carla Salvadό, Marketing and Cruise Manager of the Port of Barcelona as the new President of the association representing cruise ports in the Med and its adjoining seas.
Carla Salvadό started working at...
Chouest Kicks Off B-Port Project in Brazil
24/09/2014 11:26
In April 2014, Chouest and Prumo Logistica signed the initial lease for the port property, recently amending the agreement to include a total area of 574,200 square meters, if all future contract options are exercised. “We are already investing to meet the current demand...
Oil Prices and Sanctions Impacting Exploration Projects
23/09/2014 11:30
At present we are seeing lower oil prices as a function of softer demand growth in both Europe and China combined with recent output increases from OPEC, particularly Libya, together with the ongoing surge in US production.
In the short-term, supply could start to be taken out of the...
Italian ferry runs aground off Greece's Corfu island
21/09/2014 20:00
Τhe Italian-flagged ferry Europalink with 762 people on board ran aground early Sunday on an islet off Corfu island at the Ionian Sea in western Greece, Greek authorities said.
There were no injuries or water on an alarming level on the vessel Europalink, which safely reached the...
Maersk Discusses 2M Alliance with Chinese Authorities
19/09/2014 16:10
Maersk Line's chief executive has paid visits to Chinese authorities about its planned vessel sharing alliance with a Swiss company - including to the Ministry of Commerce which previously blocked a bigger ship-pooling scheme on competition concerns.
Maersk Line, the...
Strategy - Vision for Piraeus
18/09/2014 21:39
Piraeus, the largest port in Greece and one of the largest ports in the Mediterranean, plays a crucial role in the development of international trade as well as the local and national economy.
With a history dating from 1924 when major civil works started taking place,...
Dubai sets up maritime arbitration centre
A maritime arbitration centre with international standards has been set up in Dubai to boost the stature of the emirate as a hub of maritime activities in the world.
Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, launched the Emirates Maritime Arbitration Centre yesterday.
This centre will be tasked with settling the disputes emanating from marine trade transactions.
The move reflects Dubai’s commitment to creation a full-fledged legal environment within the maritime sector with an aim to develop, regulate and enhance the emirate’s competitiveness as a global maritime hub.
Sultan Bin Sulayem, Chairman of Dubai Ports, Customs and Free Zone Corporation and President of the Dubai Maritime City Authority (DMCA), thanked Shaikh Hamdan for establishing this centre, which is a key pillar of the legal infrastructure of the maritime industry in Dubai.
The centre, the first initiative of its kind, will be tasked with settling the disputes emanating from marine trade transactions in the Middle East in accordance with legal frameworks and regulations.
The centre will add significantly to efforts aiming at diversifying and developing the components of the marine community, giving that the maritime arbitration forms a key source of the global marine communities.
It will contribute effectively to raising Dubai’s stature as a key player in the global maritime industry and boost its position on the world marine map. Maritime arbitration services are considered to be the key in beefing up and boosting the marine sector in Dubai.
The Dubai Maritime City Authority will be responsible for drafting pertinent marine laws and regulations with regard to sea shipping, fuel supply, and other contract that require arbitration in disputes that occur within Dubai’s territorial waters.
The centre will be handling and settling ships lease contracts; goods transport contracts; sale of used ships; ship building and repairing contracts; insurance and re-insurance policies; problems of marine collisions; marine aid and rescue; and disputes related to the settlement of marine losses.
Source: WAM
