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Regulation

Shipping heavyweights join forces to solve crisis of stranded seafarers

More than 300 companies and organizations join forces in an initiative aimed at solving the crisis of stranded seafarers as quickly as possible. V.Group, BP, Cargill, BW Group and Trafigura are just some of the names involved, along with major shipping lines such as Maersk, Hapag-Lloyd, MSC, Cosco, ONE and CMA CGM.

Outgoing chief exec of Wallem Group criticizes charterers in coal conflict near China

Frank Coles, CEO of ship management company Wallem Group, criticizes charterers that will not allow crew changes on the ships currently idled off China loaded with Australian coal. V.Ships CEO Franck Kayser sees signs that China has started to accept some Australian coal cargoes. Friday midday, it was announced that Coles is leaving Wallem Group.

Price of EU carbon quotas climbs to all-time high

The price of European carbon quotas is soaring, as the shipping sector is on track to soon be included in the system. Right now it costs USD 42 to emit a ton of carbon, the highest price ever. Maersk has asked the EU for permission to not pay at all.

South Korea deploys naval vessel to Strait of Hormuz

South Korea has deployed a warship to the Stait of Hormuz after the Islamic Revolutionary Guard Corps seized a South Korean-flagged tanker Monday, citing pollution. South Korea demands that the ship and its 20-man crew be released.

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