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Monthly Archives: February 2016

Arming Merchant Ships And Naval Auxiliaries

In simplest terms, the U.S. Navy’s distributed lethality concept complicates the enemy’s targeting problem by dispersing larger numbers of platforms capable of offensive action over a wide geographic area.  With no significant increases in fleet size anticipated for the foreseeable future, it is incumbent that all avenues be pursued that will optimize the use of scarce ships. A video recently ...

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El Faro Lifeboat Davits Were Deteriorated

On Friday, the Marine Board of Investigation into the sinking of the El Faro finished its first round of hearings with testimony from TOTE Services port engineer Tim Neeson. Mr. Neeson, who is responsible for safety management system compliance for the firm’s vessels home ported in Jacksonville, answered the panel’s questions regarding the El Faro’s material condition. Contrary to previous ...

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China Passes Seafloor Mining Law

On Friday, China passed the country’s first law on deep seafloor mining. The law is designed to protect the maritime environment and ensure sustainable exploitation of its mineral resources. Xinhua reports that the law stipulates that exploration and development should be peaceful and cooperative, in addition to protecting the maritime environment and safeguarding the common interests of mankind. Prospectors must ...

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Peru Considers Sanctions for Price Fixing

Peru’s anti-trust regulator said Friday it had started a sanctions procedure against 17 shipping companies it suspects of having fixed prices together for years on goods moved between the country’s Callao port and Asia. Authorities could fine each company 12 percent of its parent company’s annual earnings if wrongdoing is confirmed, said Jesus Espinoza, an official with regulator Indecopi. Seized ...

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Political Strategist’s Arrest Could Mean Trouble for Rousseff

  Brazilian political strategist Joao Santana earned his nickname “the maker of presidents” by guiding leftist leaders to power in Latin America and Africa, but his arrest this week could unmake his most important client, President Dilma Rousseff. A member of Rousseff’s inner circle who masterminded her two successful election campaigns, Santana is accused by prosecutors of receiving payment for ...

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Indonesia Threatens to Sink Toothfish Vessel

The last of six known toothfish poaching vessels, Viking, has been arrested in Indonesia. The announcement of the Nigerian-flagged vessel’s arrest was made at a press conference in Jakarta on Friday, held by Indonesian Fisheries Minister, Susi Pudjiastuti, the Commander of the Western Naval Fleet and other high-ranking Indonesian officials. Officials stated that the Viking has been detained for entering ...

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Russia, new frontier for Islamic finance

Islamic finance is drawing more interest in Russia as the country struggles economically and requires fundamentally new approaches to attract investments from abroad. The sector is just beginning to grow in Russia and its perspectives were discussed during the recent Gaidar’s Forum in Moscow, one of the major annual international conferences on economy in Russia. Implementation of Islamic finance in ...

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Tecom Group talks to banks about $272m loan

Tecom Group, a business park operator with a major role in developing Dubai’s economy, is in the market for a syndicated loan of up to Dh1 billion ($272 million), banking sources said. The company, a unit of sovereign investment vehicle Dubai Holding, was looking for funding with a 10 year lifespan to finance building projects in its business parks, two ...

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Ceasefire takes hold in Syria

A cessation of hostilities in Syria came into effect at the agreed time of midnight on Saturday under a US-Russian plan which warring sides in the five-year conflict have said they would commit to. A cessation of hostilities in Syria came into effect at the agreed time of midnight on Saturday (2200 GMT Friday) under a US-Russian plan which warring ...

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Arabs lament missed opportunity at big Fifa race

The Arab region squandered the chance to help elect their first FIFA president because their two candidates failed to co-operate, leaving the door open for Swiss Gianni Infantino to triumph on Friday, Arab soccer chiefs and pundits said. UEFA’s Infantino got 88 votes in the first round, three more than Asian Football Confederation (AFC) chief Sheikh Salman Bin Ebrahim Al ...

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