Industry leader Maersk Line, along with MSC and 13 other container lines, might not be subject to further penalties stemming from a five-year European Commission probe, according to a report from Reuters news service.
The Ocean Carrier Equipment Management Association said that a key benefit of the terminal weighing approach is that shippers will not be required to perform any additional actions in order to provide the verified gross mass of containers.
The Oakland, Calif. City Council passed an ordinance to ban the storage and handling of coal and coke at bulk terminals in the city, representing the latest blow to Terminal Logistics Solutions’ plan for a dry bulk terminal to handle coal and other goods.
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The majority of sanctions applicable to U.S. companies remain in effect, and violators could be subject to fines and other penalties, according to Brent Helms, special counsel for the energy, environment and natural resources team at Jones Walker LLP.
Despite the European Union and United States agreeing to ease economic sanctions placed on Iran in 2009, multinational companies must still ensure rigorous compliance with "secondary" U.S.-Iranian sanctions.
The European Central Bank may ask lenders to further increase loan-loss provisions and assign more capital against nonperforming debt.