One of the oldest sayings in the US Congress is: "There is no such thing as a good regulatory outcome".
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Three hearty cheers for the new Irish President of the Nautical Institute Captain James Robinson who has promised to speak up loudly and clearly for seafarers during his time in office.
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Since April 20, the oil and tanker industries have been confronted with the realization that the rules of risk management, and the framework of maritime liability, are being altered in many ways.
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The shipping panel at the Sustainable Ocean Summit was typically catholic blend: trade bodies for shipping and carbon capture, a drillship operator, oil major and engine-maker.
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It appears that some highly-placed BP executives had some sense of trouble to come, and talked.
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Robert Dudley is an American oil man who became an employee of British Petroleum, oops, BP, when it
absorbed Amoco, the former Standard Oil of Indiana, in 1998.
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BP investors will now lose their dividends for an undetermined period. The reality of risk is now apparent, and for the first time in history, a maritime-related event has had repercussions in the homes of, to use a current expression, "small people".
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The World Ocean Council’s inaugural Sustainable Ocean Summit was a testament to what can be achieved in these jaded times with passion and vision in a not-for-profit framework. Indeed, there were times during the speeches at Wednesday night’s dinner when even prime mover Paul Holtus felt that the praise was getting a little emotional.
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Hooray. There is a new preoccupation with seafarers’ health, with even a new quarterly magazine devoted to the subject. I’m not entirely sure that it is supposed to be read by seafarers wishing to be healthier, or chronic hypochondriacs, or those who are responsible for keeping them healthy.
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Business, in many of its aspects, is occasionally a game of chance. Bad, unexpected things can happen. Failure punishes the unlucky, or unwary, or both.
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