MSC to Jointly Fund Settlment Stemming from 2021 Pipeline Spill
MSC Mediterranean Shipping Company' press office confirmed acceptance of a proposal to jointly fund a settlement with claimants relating to the 2021 Orange County pipeline oil spill. Terms of a formal settlement are still being negotiated and once reached will have to be approved by the Court.In a statement announcing the settlement, MSC's press office said it looks forward to demonstrating in the continuing legal proceedings that the responsibility for the 2021 oil spill remains the responsibility of Amplify, the pipeline owner, who already has plead guilty.
MSC to Introduce Global Fuel Surcharge
Improving the environmental performance of the container shipping supply chain is a common goal shared by shipping lines, shippers, freight forwarders and non-vessel operating common carriers, as well as governments, regulators, and the public around the world.The UN International Maritime Organization (IMO) requires that from 1 January 2020, Sulphur content in the fuel used for international shipping must be limited globally to 0.5%, compared with the current standard of 3.5%, in order to minimize emissions…
Long Beach Mayor, Port Leaders in Europe
Long Beach Mayor Robert Garcia is leading a Port of Long Beach delegation on a weeklong business development trip this week to meet with executives at the European home offices of the world’s three largest shipping lines. The group will update Port customers on the impact of the recent labor negotiations and steps being taken to improve congestion and make the Port more efficient. Delegation members include Harbor Commission President Doug Drummond, Commission Vice President Rich Dines, Commissioner Lou Anne Bynum and Harbor Department Chief Executive Jon Slangerup.
Maersk to Invest Billions, Reap Savings, but No Cash for Shareholders
Denmark's A.P. Moller-Maersk said on Wednesday it would invest billions of dollars in new ships, reap hundreds of millions in savings and announced valuable contracts for its drilling rigs. But shares of the world's largest container shipping company fell more than 3 percent, partly because it failed to announce any of the initiatives the market had anticipated for its investor day in Copenhagen. Analysts had hoped that Maersk would say it had sold a big oil asset in Angola, which would have cut future capital investments, or unveil an increase in its payments to shareholders.
