In an annual editorial on the ship recycling business, Dr. Nikos Mikelis, non-executive director of cash buyer GMS, analyzes the European Union’s ship recycling regulation and reviews possible future improvements. He also discusses the role of the Hong Kong Convention and groups like the NGO Shipbreaking Platform in global recycling activity, as well as various legal developments in the industry.
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The Maritime Executive reports that Inchcape Shipping Services Holdings Ltd. and subsidiaries will pay $20 million to settle a lawsuit involving allegations that the company overcharged the U.S. Navy for supplies and services at ports around the world between 2005 and 2014. The contract rate discrepancies were exposed when whistleblowers at the company came forward with information. Read more of the
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A new population of a species believed to be the world’s rarest fish has been found off the coast of Tasmania, Australia in Frederick Henry Bay. The Red handfish (Thymichthys politus) is rare because it walks on the seafloor instead of swimming. The population of the fish was estimated to be 20-40 individuals until a team of divers from the Institute for Marine
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