Law & Regulation
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IMO resumes efforts on carbon pricing tools
IMO member states are to adopt economic and technical measures in 2025, under last year’s revised greenhouse gas strategy. Now the regulator has to figure out how these measures will work
Indian Navy rescues hijacked bulker Ruen from Somali pirates
All 17 hostages freed uninjured from hijacked bulker Ruen on Saturday after a two-day, anti-piracy operation that saw Indian commandoes parachute onto the vessel and capture 35 Somali pirates
Belgium court also denies FourWorld’s complaint against CMB’s Euronav takeover
The Belgium Market Court has denied a request by New York-based FourWorld Capital Management to block CMB’s takeover of Euronav, a day after a US court denied its motion for preliminary injunction relief
Seanergy ups dividend as it clinches increased capesize earnings
Nasdaq-listed owner of 18 large bulkers intends to ‘vigorously defend’ itself against Economou lawsuit
What to expect from MEPC81?
A breakthrough at MEPC81 is seen as unlikely as several member states oppose a flat rate GHG tax on shipping, despite a higher number of countries backing such a measure
US Coast Guard sees ‘rapid’ rise in sexual misconduct complaints
The US Coast Guard has seen a surge in harassment and sexual misconduct complaints since the Safer Seas Act, passed in the aftermath of the Midshipman X controversy, strengthened seafarer protections. The USCG’s assistant commandant for prevention policy says it is a sign that mariners trust their complaints will be investigated
US court clears path to CMB’s Euronav takeover
The US District Court for the Southern District of New York denied FourWorld Capital’s motion for an injunction against CMB’s US offer to buy all outstanding Euronav shares
ETS share of tanker freight costs set to grow
Higher ETS prices and falling tanker freight rates could significantly increase the share of EU carbon tax in spot rates after 2026, when 100% of emissions will be accounted for
Gang warfare disrupting Haiti ports
Major carrier pulls calls and advises owners to consider diverting cargoes in transit elsewhere, as P&I correspondents warn of descent into extreme violence
Bunker suppliers need policy before they can invest in green fuels, says Monjasa
Monjasa owner Anders Østergaard said ammonia and methanol cannot be viable alternative fuels without policies to close the price gap with fossil fuels
London arbitrators’ group hails boost to caseload
LMAA data reflects the large number of parties worldwide choosing arbitration on London terms and conditions, says president David Steward
Navium had 100% of war risk on True Confidence
Marine MGA Navium wrote 100% of the war risk for the bulk carrier hit by a fatal Houthi strike on Wednesday. The Clive Washbourn-led outfit will be on the hook for the hull value, estimated at $17.6m, but could be protected through a ‘sidecar’ arrangement with reinsurer Fidelis
Economou files lawsuit against Seanergy Maritime directors
Complaint filed in the Marshall Islands takes aim at chief executive Stamatis Tsantanis and other directors, claiming that an issue of ‘super-voting’ preferred shares ‘disenfranchised’ outside shareholders
Mitsui OSK and Allianz sue Volkswagen over Felicity Ace blaze
Casualty caused by lithium-ion battery on Porsche vehicle, plaintiffs contend
Stephenson Harwood hires two partners from Ince & Co Middle East
New recruits specialise in dispute resolution
US fund takes legal fight against CMB’s Euronav takeover to Belgium
US fund FourWorld Capital Management, which recently bought a 2.4% stake in Euronav and is seeking a settlement from CMB, has extended its challenge in the US courts to a parallel bid via Belgium’s Market Court
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