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IMO Marine Environment Protection Committee 65th session pushes forward with energy-efficiency implementation


The Marine Environment Protection Committee (MEPC) of the International Maritime Organization (IMO) met for its 65th session from 13 to 17 May 2013, at IMO Headquarters in London. The Committee made significant progress in its work on further developing energy-efficiency regulations; adopted an MEPC Resolution on Promotion of Technical Co-operation and Transfer of Technology relating to the Improvement of Energy Efficiency of Ships; and gave the go-ahead to carry out an update to the greenhouse gas (GHG) emissions’ estimate for international shipping.

Navios Maritime Acquisition Corporation announced the closing of its previously announced placement, issuing a total of 32,876,712 shares of common stock, at a price of $3.65 per share, raising approximately $120.0 million of gross proceeds.
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Baltic Trading announced that it has commenced a public offering of common stock. Baltic Trading intends to use the net proceeds from the offering for future vessel acquisitions or, to the extent it does not so use them, for working capital and general corporate purposes.
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A surplus of the largest oil tankers expanded for a second week in the Persian Gulf, the world’s biggest crude-loading region, a Bloomberg News survey showed. There are 19 percent more very large crude carriers available for hire over the next 30 days than probable cargoes, according to the median in a Bloomberg survey of six shipbrokers.
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Rates to ship iron ore fell for a ninth day on speculation Chinese steelmakers will cut back from record-high production as prices fall. Daily earnings for Capesize ships hauling about 160,000 metric tons of the raw material slid 0.8 percent to $5,015, the lowest since May 1, according to the Baltic Exchange, the London-based publisher of shipping costs.
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The EU will provide some €37 million to strengthen the fight against piracy in several Eastern and Southern African countries through support for the Programme to promote Regional Maritime Security (MASE).
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In line with the INTERTANKO-led joint proposal last year, the International Maritime Organization (IMO) has agreed to a rescheduling of the International Ballast Water Management Convention implementation dates, which will smooth the installation scheduling for ships installing ballast water management systems (BWMS), a trial period for port state control and new guidance on BWMS type approvals.
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D/S Norden A/S, Europe’s biggest owner of ships hauling iron ore and coal, is making its first bet in three years that rates for Panamax vessels will rally from the lowest in more than a decade. The operator of 64 of the ships booked 6 percent less cargo than its capacity this year, keeping reserves that can be used once earnings rise, according to a May 15 statement.
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