Authorities Seize 1,000 Pounds Of Marijuana In Jamaica

By MarEx 2015-08-17 11:48:21

Over 1,000 pounds of compressed marijuana has been seized in Kingston, Jamaica. Narcotics agents discovered the drugs in two shipping containers, one destined for Suriname and another headed to the Netherlands.

No arrests were made in the incident. Jamaica recently amended its drug laws to partially decriminalize the possession of small amounts of marijuana, but trafficking is still illegal.

In 2014, the International Narcotics Control Board (INCB) released a report stating that Jamaica is the largest illicit producer and exporter of cannabis in Central America and the Caribbean.

The report noted that Jamaican drug trafficking takes place at airports, seaports via containers, cargo vessels and underwater canisters attached to shipping hulls.

Suriname, Guyana and Trinidad and Tobago are the most frequent recipients of Jamaica’s illicit exports, according to the INCB.

The report also stated that the ports of Kingston and Montego Bay are used for the bulk shipment of marijuana and cocaine to Europe and throughout the U.S., and adds that corruption, violence and intimidation are used to circumvent legal controls.

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Ship Bursts Into Flames On Suez Canal

By MarEx 2015-08-17 11:39:51

In the first incident since the Suez Canal’s August 6th inauguration, the M/V Om el-Kheir caught fire while berthing at Port Tawfik. The Port is at the Canal’s southern entrance.

The Suez Canal Port Authority (SCA) and Red Sea Ports Authority (RSPA) rescue teams extinguished the fire and rescued the cargo vessel’s crew 13 members. Authorities are investigating the cause of the fire. Traffic at the southern entrance was unaffected by the incident.

The Om el-Kheir, which was enroute to Cambodia.

President Abdel Fatah el-Sisi inaugurated the New Suez Canal Aug. 6, a parallel canal to the Suez, to facilitate and accelerate international trade.

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Libya Needs Weapons To Defend Its Oil

By MarEx 2015-08-17 10:45:59

Libya’s Petroleum Facilities Guard (PFG) said its forces need more weapons to fight the Islamic State (ISIS), which is fighting for control of two of the nation’s largest crude export facilities of Es Sider and Ras Lanuf. Both ports have been under attack most of the year.

ISIS recently gained control of Sirte and Naufaliya, which is about 30 miles from Es Sider. These two regions contain about 70 percent of Libya’s crude oil reserves.

In a PFG statement, the group said that populated areas cannot be won by air power alone and additional ground forces, weapons and ammunition are needed.

Libya use to export about 1.6 million barrels of crude oil per day prior to the 2011 rebellion, which ended Qaddafi’s rule. Today, the output is only 400,000 barrels and Libya is now OPEC’s smallest producer due to the ongoing civil unrest.

In December, Libya stopped crude exports from the two ports after militias attacked Es Sider, its largest oil terminal. And the National Oil Corporation (NOC) declared force majeure at both ports. Force majeure is a legal status, which protects a party from liability if it cannot fulfill a contract for reasons beyond its control.

The PFG also wants the U.N. Security Council to lift an arms embargo that prevents its forces from receiving weapons. The ban was originally placed on Qaddafi’s regime

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VLCC rate fall put in context

VLCC rates may have halved from the start of the year but ship owners should see the situation in context, brokers told IHS Maritime.
Rates for the benchmark Gulf-Far East route averaged Worldscale 39.14 or USD39,000 on 14 August, a fall of almost 20 points from 31 July, when rates averaged W56.04
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Thailand’s RCL stays in profit

Regional Container Lines (RCL) of Thailand has managed to remain in profit, despite second-quarter results considerably lower than last year.
It posted a net gain of THB55 million (USD 1.55 million) for the quarter that ended on 30 June. The comparable figure last year was THB 294 million (USD 8.3
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