In January 2019, the Kingdom of Saudi Arabia (the Kingdom) introduced, for the first time, a bespoke Commercial Maritime Law issued pursuant to Royal Decree no. M/33 dated 5 Rabi’ II 1440H and published it in the Official Gazette on Friday, 4 January 2…
What do Saudi Arabia’s moves in maritime law mean? Read More »
Tensions in the Gulf region haven’t had any particular impact in the tanker market, at least until now. In its latest weekly report, shipbroker Gibson said that “during the first week of July, the well documented arrest of the 300,000 dwt ‘Grace 1’ by …
Tensions in Gulf Region Haven’t Impacted Tanker Rates Read More »
De-harmonisation Initially, the IMO aligned the date for compliance with the BWMS requirements set out in Regulation D-2 with the renewal of the International Oil Pollution Prevention (the IOPP) certification. To extend the compliance deadline up to 20…
Ballast Water Management Systems: Time-Line For Compliance Read More »
Capesize The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The 5TC opened the week at $32,765 and closed on Friday at $27,145. It became apparent on Monday that the market …
Dry Bulk Market: Capesizes Down on the Week Read More »
A boom in the dry bulk market over the course of the past quarter has helped turn the tables around in terms of sentiment. As such, the gloom which had prevailed up to that point, gave way to a renewed optimism, regarding the market’s long-term prospec…
Dry Bulk Market: Gloom Makes Way for Optimism After 300% Capesize Rally Read More »