Seven additional States signed the United Nations “Beijing Convention on the Judicial Sale of Ships” in Valletta

17/11/2024 | | Finance, International, Shipping

Summary:  On June 19, in Valletta, Malta, the Ministry of Foreign and European Affairs and Trade of Malta, Comité Maritime International, and the United Nations Commission on International Trade Law (UNCITRAL) hosted a commemorative event for the United Nations Convention on the International Effects of Judicial Sales of Ships (also known as the "Beijing Convention on the Judicial Sale of... Read More

Bangladesh unlikely to reroute external trade through Indian ports.

14/09/2024 | | International, Investment, Shipping

Summary:  The government of Bangladesh will not encourage companies to reroute export-import commerce through Indian ports because no special facilities are provided and a local deep-sea port is on the horizon. Concerned authorities also made this choice because they believe Bangladesh may not be able to receive any preferential treatment from Indian ports in comparison to regional transshipment ports in... Read More

Belgium and the European Union sign the “Beijing Convention on the Judicial Sale of Ships”

01/06/2024 | | Commercial, International, Shipping

Summary: On March 14, 2024, at the UN Headquarters in New York, Belgium and the European Union signed the United Nations Convention on the International Effects of Judicial Sales of Ships, often known as the "Beijing Convention on the Judicial Sale of Ships". The European Union complies with Article 18 by signing. In compliance with the convention's Article 18, the... Read More

Additional sanctions related to price caps have been imposed by the Treasury

30/12/2023 | | Commercial, International, Shipping

Summary:  On December 1, 2023, the United States Department of Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on three entities. Additionally, three vessels that carried Russian crude oil above the Coalition-agreed price cap while using Price Cap Coalition services are identified as blocked property. These sanctions have been imposed to responsibly reduce oil revenues that the Russian... Read More

More time has been given to shipbuilders to reschedule their loans

30/12/2023 | | Banking, Finance, Shipping

Summary: Shipbuilders in Bangladesh have been given an extra month to reschedule their defaulted loans. The Bangladesh Bank has extended the deadline to apply for rescheduling until December 31. To be eligible for the scheme, shipbuilders will need to make a down payment of 2.5 percent. Content: The central bank recently gave a group of borrowers in the shipbuilding industry more time... Read More

Bangladesh’s ship recycling yards will receive $1.364m investment from Norway to improve eco-friendliness

30/12/2023 | | International, Investment, Shipping

Summary:  Norway's government will invest $1.364 million to transform Bangladesh's shipbreaking yards into eco-friendly facilities. This project aims to protect the environment by reducing pollution in the ship breaking industry.  Content: The Ministry of Industries, the Norwegian government, and the International Maritime Organization (IMO) are collaborating on a project called "Safe and Environmentally Sound Ship Recycling Project (SENSREC) Phase-3". On Wednesday, at... Read More

Congratulations to China Road and Bridge Corporation on the opening of the Patenga Container Terminal

21/11/2023 | | Commercial, Construction, Shipping

Congratulations to our client, China Road and Bridge Corporation, on the opening of the Patenga Container Terminal in Chattogram, Bangladesh! We are proud to have acted as CRBC's retainer on this landmark project, which is one of the largest and most important infrastructure projects in Bangladesh. The new container terminal will significantly increase the capacity of Chattogram Port to handle cargo,... Read More

Congratulations to Penta-Ocean Construction Co., Ltd., on their opening of the channel of Matarbari Deep Sea Port.

12/11/2023 | | Construction, International, Investment, Shipping

Rahman's Chambers is delighted to congratulate our client, Penta-Ocean Construction Co., Ltd., on the opening of the channel of Matarbari Deep Sea Port. This is a landmark project that will have a significant impact on the Bangladesh economy and improve the lives of millions of Bangladeshis. Penta-Ocean Construction Co., Ltd. played a vital role in the development of the constructing... Read More

Appointment of Contractors in November for the construction of the Matarbari deep-sea port

29/10/2023 | | Construction, Investment, Shipping

Summary: Next month (November), contractors are expected to be appointed by the Chittagong Port Authority (CPA) for the construction of Matarbari Deep-sea Port. It is anticipated that the evaluation of tenders submitted for the construction work of the port will be completed soon. Afterwards, the authorities will proceed with the appointment of contractors for both sides, namely Chittagong Port and... Read More

WEBINAR ON FUNDAMENTAL RIGHTS, JUDICIAL REVIEW & WRITS IN BANGLADESH

12/10/2023 | | Seminars / Webinars / Conferences, Shipping

Procedural violations or administrative actions taken without following due procedure, arbitrarily, unreasonably, or in violation of fundamental rights, etc, can be expeditiously resolved by judicially reviewing the same, popularly known as a filing writ petition, before the Hon’ble High Court, where there is no other efficacious alternative forum available.  In 2023, the High Court Division, by a judgment and order... Read More

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