South Korea’s National Assembly yesterday (12 March) passed the Green Shipping Corridor Support Act, which paves the way for expanding ‘green’ vessel operations and developing the port infrastructure to accommodate their needs. Specifically, the Act includes the establishment of a Green Shipping Corridor Support Council and a five-year ‘master plan’ that will be led by the Ministry of Oceans and Fisheries. In addition, the Act will provide the legal basis for workforce training, research and development and international cooperation initiatives to accelerate shipping’s energy transition. The Act has been welcomed by both the industry and South Korean NGOs. However, in […]

South Africa’s High Commissioner Permanent Representative to the International Maritime Organization (IMO) Jeremiah Nyamane Kingsley Mamabolo has deposited his country’s instrument of accession to the International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001 (the ‘Bunkers Convention’). The instrument of accession was deposited by Mamabolo in a meeting with the IMO Secretary-General Arsenio Dominguez on Wednesday (11 March). The treaty will come into effect for South Africa in three months’ time. The IMO informed ship.energy today (13 March) that South Africa is the 109th Contracting State to the Convention. The Bunkers Convention, which was adopted in 2001 and […]

In a move to introduce some stability into the global energy markets, the US Treasury Department’s Office of Foreign Assets Control (OFAC) has announced a 30-day waiver to allow the purchase of oil and petroleum products of Russian origin which are already in transit onboard vessels. The general licence took effect yesterday (12 March) and will apply until 11 April 2026. The waiver also includes operations relating to the carriage of oil and petroleum cargoes, such as crewing, bunkering and piloting. As previously reported by ship.energy, on 6 March the US also issued waiver which enables India to purchase Russian […]