Government

Agreements reached between the government of B.C. and Pacific NorthWest LNG establish the path to a final investment decision on the project and set the stage for a potential US$36-billion investment in Northern B.C. that will be a key driver of jobs and economic activity in the province.

B.C. Premier Christy Clark and Michael Culbert, president of Pacific NorthWest LNG, signed a memorandum of understanding that sets out the steps leading toward ratification of a project development agreement between government and the company. Michael de Jong, Minister of Finance, signed the project development agreement on behalf of government, which initiates a ratification process by both the company and the British Columbia Legislature. Rich Coleman, Deputy Premier and Minister of Natural Gas Development, signed the Province’s long-term royalty agreement with the company.

Continue reading “The government of British Columbia sets out an LNG investment plan”

Addressing members of the Singapore Shipping Association the Chairman of the International Chamber of Shipping, Masamichi Morooka, warned about the dangers of regional maritime regulation being adopted by governments at variance to the global maritime Conventions adopted by IMO.

“Global rules for a global shipping industry is not just a slogan,” said Mr Morooka before criticising the approaches to the regulation of shipping being pursued by the United States and the European Union.

Mr Morooka began by highlighting the big problem caused by the different ballast water treatment regime that applies in the United States to that adopted by the IMO through the Ballast Water Management Convention. Continue reading “Regional maritime regulation causing problems says ICS Chairman”

Tanker hijacks off South East Asia’s coasts caused a rise in global ship hijackings, up to 21 in 2014 from 12 in 2013, despite piracy at sea falling to its lowest level in eight years, the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) has revealed. Pirates took 442 crewmembers hostage, compared with 304 in 2013.

IMB’s annual piracy report shows 245 incidents were recorded worldwide in 2014 – a 44% drop since Somali piracy peaked in 2011. Somali pirates were responsible for 11 attacks, all of which were thwarted. However, IMB warns shipmasters to follow the industry’s Best Management Practices, as the threat of Somali piracy has not been eliminated.

Worldwide, 21 vessels were hijacked last year, 183 were boarded, and 13 fired upon. Pirates killed four crew members, injured 13 and kidnapped nine from their vessels.

Continue reading “SE Asia tanker hijacks rose in 2014”