Trade

Following our article about a UK Parliament member advocating for Turkey to lift its ban on Cyprus-flagged vessels, the OGSR reached out to the Cyprus registry for further information on the embargo and how it has directly impacted their flag state.

UK Parliament Member Matthew Offord has expressed support for Turkey lifting its embargo on Cypriot-flagged and owned vessels.

ESA ship management leader Gian Enzo Duci has advised the Italian Government to invest more in its flag in order to maintain business.

The managing director says that Italy's reduction in allocation of funds to its maritime sector as part of an effort to cut costs has resulted in a weaker support system for owners registered with the flag. Duci said:

Francis Nolan, Chair of The Maritime Law Association of the US's Standing Committee on Maritime Finance and US Member of the Comite Maritime Internationale Subcommittee, recently wrote an editorial about the complications that can arise when a foreclosed ship is re-registered with a new flag state. The article, along with a link to the original source, is posted in its entirety as follows.

The ISRR staff has learned of a letter written by the United States’ Government Accountability Office (GAO) stating its intentions to review the Jones Act “in terms of its effect on both the Puerto Rican economy and the broader U.S. economy.”

In the latest development to United States maritime policy, Congressman Steve Cohen has re-proposed the American Coastal Waters and Shorelines Protection Act – a bill that would require offshore vessels drilling in U.S. waters to be nationally flagged.

The Australian Government has announced major reforms to its maritime sector with the goal of strengthening the industry to the level of a global shipping power.

The reform package entails four key components:

Lloyd's List Intelligence has just released its latest report on the ten largest flag states as measured by gross tonnage:

1. Panama
2. Liberia
3. Marshall Islands
4. Hong Kong
5. Bahamas
6. Singapore
7. Malta
8. Greece
9. China
10. United States

The EU has now made it illegal for European operated ships to conduct business transactions at six ports in Libya. Lloyd’s List reports today that while the ports remain unnamed, they include Tripoli, Zuara, Zawiyah, al Khoms, Ras Lanuf and Brega. The EU will release the names of the ports tomorrow.