Euronav sells 2005-built VLCC
Antwerp, Belgium, headquartered Euronav NV (NYSE: EURN) reports that it has sold the 2005-built VLCC TI Hellas for $38.1 million. A capital gain on the sale of approximately $1.6 million will be
Shipping
Foreship launches project aimed at keeping coronavirus off cruise ships
Helsinki, Finland, headquartered naval architecture and marine engineering firm Foreship has launched an initiative to limit the presence and spread of coronavirus and other pathogens on passenger ships and get the cruise
COVID-19: Paris MoU updates temporary guidance on Port State Control
Following the outbreak of COVID-19, the Paris Memorandum of Understanding on Port State Control (Paris MoU) drafted temporary guidance for its member PSC authorities, recognizing the need to apply flexibility under these
International Seaways reports record first quarter
New York City headquartered International Seaways, Inc. (NYSE: INSW), one of the world’s largest tanker operators, reported net income for the first quarter of $33.0 million, compared to a net income of
IMO draws up protocols for safe crew changes
The International Maritime Organization (IMO) has sent a recommended framework of protocols for ensuring safe ship crew changes and travel during the COVID-19 pandemic to all IMO member-states, the UN and other
Cyprus supports seafarers with formal crew changeover process
The Cyprus Shipping Deputy Ministry (SDM) has formally announced a new process to facilitate crew changes during the COVID-19 pandemic. Crew changes for vessels are possible in Cyprus provided certain conditions are
SEACOR benefits from CARES Act tax breaks
While SEACOR Holdings Inc. (NYSE:CKH) saw first quarter income fall, it reports that all of its services have been deemed essential — and looks to have gotten a significant boost from tax
Suez and Panama Canals cut owners breaks to keep ships transiting
Cheap bunker prices are tempting hard-pressed shipowners to send ships “the long way round” and avoid expensive Suez and Panama Canal transit fees. In response, the authorities of both canals are offering
BIMCO offers advice on “floating storage” time charter clauses
With the collapse in oil prices, partly as a result of COVID-19, huge numbers of tankers are being time chartered for floating storage purposes. As a result, BIMCO is receiving enquiries about
COVID-19: Liberia calls for flag states to join together to facilitate crew change
The Liberian Registry is continuing its efforts to gain recognition of seafarers as “key workers” and for much needed crew-exchange to be allowed at major ports globally during the COVID-19 pandemic. The