Lay days and lay time are both commercial shipping terms that are often confused as referring to the same meaning. Though both deals with the same aspect – time for loading and discharging of the cargo, there is a major difference between the two terms.
International maritime charity Sailors’ Society is supporting three hospitalised seafarers following the death of two of their crewmates in a tragic incident while reportedly cleaning the ship’s pipeline last week.
A key IMO initiative supporting ship decarbonisation – the Global Industry Alliance (GIA) – is set to be extended to 2023, in line with the timeframe of IMO’s Initial GHG Strategy.
Learn about classification of stowaways found on ships, along with IMO guidelines, insurance cover and measures to be taken on board ships.
The HNS Convention is an acronym for the IMO’s International Convention on Liability and Compensation for Damage in Connection with the Carriage of Hazardous and Noxious Substances by Sea.
The Danish-controlled fleet is increasing. Taking the sixth place on the list of the world’s major shipping nations given as operated tonnage, Denmark has advanced one place.
The Financial Accounting Standards Board (FASB) in the United States has issued a lease accounting standard update following the release in January 2016 of an International Financial Reporting Standard (IFRS) dealing with the same subject.
The Sustainable Shipping Initiative (“SSI”) – a pioneering coalition of companies from across the global shipping industry – today launched its Progress Report to 2015, which highlights the positive developments that are being made to drive shipping’s sustainability, as well as the significant challenges that lie ahead.
The Paris climate agreement’s target of limiting global warming well below 2°C will be impossible without measures to curb shipping’s greenhouse gas emissions, MEPs told industry representatives last week. Including shipping CO2 in the EU’s emissions trading system (ETS) or having the sector contribute to a climate compensation fund were the options on the table, they said.