Argentina – New Provisions on Ballast Water Management: Ballast Chlorination – Guidance

Further to the News Article dated 12 April 2017 (here), the Club has received a variety of queries from Members concerning the new obligations pertaining to the chlorination treatment of vessel’s ballast tanks when calling at Argentine ports due to the Mi

Provisions lower Bumi Armada Q1 profit to $6m

Bumi Armada saw first quarter net profit plunge to MYR23.4m ($5.7m) from MYR72.0m in the previous corresponding quarter mainly due to a MYR 17.9m non-cash impairment charge but also a 25% drop in revenue to MYR430.8m from MYR572.2m a year ago.

Keppel says Sete Brasil provisions are sufficient following judicial recovery filing

Following Sete Brasil’s filing for judicial recovery, Keppel Corp says its believes its SGD230m ($170.4m) in...

IMO adopts Polar Code environmental provisions

The environmental provisions to the Polar Code covering shipping in the Arctic and Antarctica were adopted at the IMO MEPC 68 meeting last week, however, has been criticised by environmental groups for not going far enough. ...

HSH Nordbank Records Profit as Shipping Loan Provisions Decline

HSH Nordbank AG returned to profit in the first nine months as the world’s biggest shipping bank...

Euro Banks to Increase Bad Shipping Loan Provisions by Quarter

European banks need to increase their provisions for bad shipping loans by 25%, to EUR 7.3 billion (USD 9.25bn),...

Nanjing Tanker books provisions of $756m for 19 VLCCs

Financially-weakened Nanjing Tanker Corporation (NJTC) has booked provisions in financial...