Calculation of written down values under the UK tonnage tax tonnage tax are not realistic in terms of their interaction with the capital allowances regime according to international accountant and shipping adviser Moore Stephens.
New Inline Scrubber System by Wärtsilä
March 10, 2014 by Leave a Comment
According to Wärtsilä the new inline scrubber system design that has been developed by the Company lowers cost, saves space, and eases installation.
Project Vindskip the Fuel Efficient Ship
March 9, 2014 by Leave a Comment
The Norwegian designers at Lade AS, have come up with a new concept for a partly wind-powered merchant ship the Vindskip (Windship). According to Lade AS the ship’s design can cut fuel use by 60% and carbon emissions by up to 80%.
Grounding of Container Ship Near Mykonos, Greece
March 8, 2014 by 1 Comment
On the way to Tunisia from Izmir, the 1995-built 116-meter-long Turkish-flagged container ship Yusuf Çepnioğlu ran aground near the island of Mykonos.
Kidnappings Surge in Gulf of Guinea
March 8, 2014 by 1 Comment
Recently there is an increased threat of crew kidnap in the Gulf of Guinea with two new attacks on vessels taking place within a single week having also Nigerian-flagged vessels targeted by pirates and kidnapping six crew members.
Torm Sells Product Tankers to Oaktree
March 7, 2014 by Leave a Comment
As part of TORM’s 2012 Restructuring Agreement, Oaktree exercised its option rights for repayment of a related debt from TORM, leading to a sale of ten MR and three LR2 product tankers.
North P&I and Sunderland Marine Merge
March 7, 2014 by Leave a Comment
North of England P&I Association (North) and Sunderland Marine Insurance Company Limited have merged to form the North Group following approval by the Bank of England’s Prudential Regulatory Authority and other UK and overseas regulators.
Singapore Shipping Company Pleads Guilty for Illegal Discharge of Oily Waste
March 7, 2014 by 1 Comment
Singapore-based ODFJELL and one of its senior crew members pleaded guilty a few days ago in federal court in Hartford, Conn., for violating the Act to Prevent Pollution from Ships (APPS).
USCG Cruise Ships Inspections for 2014
March 7, 2014 by Leave a Comment
A few days ago USCG issued a Marine Safety Information Bulletin stating that U.S. Coast Guard Port State Control Officers will conduct unannounced examinations on a number of cruise ships for the remainder of 2014.
Traditional & Modern Ways of Shipping Finance
March 4, 2014 by Leave a Comment
The shipping industry has faced its worst crisis during the last 25 years. The limited liquidity of the shipping market and the trend of banks to limit their exposure have made shipowners to find new methods of financing their investment projects. Traditional lenders such as Germany’s Commerzbank and HSH Nordbank and the UK’s Lloyds and RBS are either exiting the market or trying to reduce exposure.
Officer of the Watch 