FSL Trust Management Pte. Ltd. announces that its vessel ‘Verona I’ has been released after a security deposit of approximately US$1.6 million was posted with the Japanese court.

As part of its work on preventing a future financial crisis and strengthening the financial system, the European Commission has today put forward amendments to the EU rules on Credit Rating Agencies (CRAs) and launched a public consultation on reforming corporate governance in financial institutions.

The International Bunker Industry Association (IBIA) has emphasised that, with effect from April 20, 2010, EU regulations on the sulphur content of fuel used by ships at berth in EU ports become law in the UK, and ships failing to comply will face the risk of prosecution.

Blank Rome announces the formation of a Financial Reform Task Force to offer counsel and provide insight to those impacted by the events unfolding in the U.S. and global financial markets.

The International Labour Organization overwhelmingly adopts a comprehensive new labour standard for the world’s maritime sector, in what ILO Director-General Juan Somavia called a landmark development in the world of work.

Litigants can now more easily use the Dutch courts to force the other side, as well as third parties not directly involved, to release documents helpful in resolving the case.

Chemoil replies to a recent STUSCO statement on the status of Chemoil's TAN-related lawsuit against them.

The Commission has decided to take Belgium, Greece, France, Italy, the Netherlands, Austria, Finland and the United Kingdom to the Court of Justice. They failed to implement key EU legislation on vessel traffic monitoring and information systems which was adopted by the EU in the wake of the Erika accident.

The International Bunker Industry Association will launch two dispute resolution services at its annual convention in Buenos Aires on November 14-16. The schemes, mediation and arbitration, are designed to be quick, simple and low cost ways of resolving bunker industry disputes.

Charterers need to wake up to the fact it is they who carry ultimate legal responsibility for the quality of the bunker fuel that is purchased and used in the vessels they charter, says Lintec.

The European Commission has adopteda new proposal for a Directive on Market Access to Port Services, which aims at boosting the competitiveness of EU ports and contributing to reduce congestion and environmental pollution by promoting inter alia maritime transport.

Two chief engineers for a freighter plead guilty for their role in concealing the overboard dumping of waste oil from the M/V Kent Navigator and using false log books designed to deceive the U.S. Coast Guard.

On 6 Aug 04, three bunker surveyors pleaded guilty to charges by the Corrupt Practices Investigation Bureau (CPIB) for accepting bribes. This comes after a series of investigations conducted by the CPIB. The Maritime and Port Authority of Singapore (MPA) will cancel the Bunker Surveyor Licences of the three bunker surveyors.

DNV Petroleum Services in Singapore has suspended three subcontracted bunker quantity surveyors involved in a corruption probe. One of these surveyors is appearing in court today.

Legislation that authorizes $8.2 billion for U.S. Coast Guard operations and new equipment is overwhelmingly approved by the U.S. House of Representatives.

Leading London law firm Lawrence Graham says shipping is focusing on complying with security requirements, but another Convention soon to be enforced will have major ramifications for all aspects of shipping.

Mark O'Neil of law firm Stephenson Harwood advises suppliers to be cautious, even when supplying on-spec fuel.