International Maritime Organization

Turkey is on its way to becoming a key hub for LNG supplies with cooperation from Turkey's largest public institution in the areas of energy, trade, transportation and storage, BOTAŞ, along with Arkas Bunkering and Sumitomo Corporation, according to Turkey's BOTAŞ on Sept. 8. 

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A Turkish-owned container ship, which rescued irregular migrants stranded in a flooded inflatable boat in the Mediterranean Sea, has been caught in the middle of both an international diplomatic crisis and a mutiny.

Turkey's top diplomat on Nov. 24 accused a German frigate of violating international law when it stopped and searched a commercial vessel without the consent of its flag-state or its captain.

"It is a violation of international law to embark on trade ships like pirates," Foreign Minister Mevlüt Çavuşoğlu told reporters in the capital Ankara.

The Cruise Lines International Association (CLIA) announced on Tuesday that it has reached an agreement with the Greek government for the creation of a framework so that cruise ships can carry out short-term berthing in Greeks ports at a time when cruise ports are closed for precautionary purposes.

The shipping industry appears particularly concerned with the new regulations whose introduction the International Maritime Organization is considering ahead of reaching the target of zero-carbon fuel by 2050, the 11th Annual Capital Link Greek Shipping Forum heard on Thursday in Athens.

International marine lubricants and bunkers consultants Baluco SA is getting ready to participate for an 11th time in the Posidonia international shipping exhibition this June.

Greece's ferry companies are preparing to raise prices after a new requirement to use fuel with 7 times lower sulfur content for their ships (from 3.5% to 0.5%) entered into force on January 1st.

This is a regulation of the International Maritime Organization and is aimed at reducing air pollution.

Ferry companies are preparing to raise ticket prices this year following their new obligation to use types of fuel with a lower sulfur content than previously (down from 3.5 percent to 0.5 percent).

During last week's Greener Shipping Summit 2019, the speakers and delegates often appeared to be still at odds over how to meet the new environmental regulations with just a month-and-a-half to go until the International Maritime Organization sulfur cap comes into force.

Greece's biggest oil refiner, Hellenic Petroleum, reported a 31 percent drop in second-quarter core profit on Thursday, hurt by refining margins which recorded a five-year low.