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News Flash! Greek Shipowners Prefer Bulkers

BIMCO Greek Bulkers (Eric Haun).jpg

The buying interest from Greek ship owners is focused on bulkers to an increasing extent, BIMCO said. Data from VesselsValue.com reveal that Greek owners were at the buying end of 43% of all bulker sales completed so far in 2014. As of June 2014, the number of Greek bulker purchases so far is 91, compared to 81 for the full year of 2012. The level of activity seen so far in 2014 would suggest Greek owners are on target to top the 199 bulker purchases completed in 2013. “The interest is much centered on bulkers and has become more and more explicit over the past two years, whereas Greek buying interest in tankers and containerships is flat,” said Peter Sand, Chief Shipping Analyst, BIMCO.  The market share of Greek tanker purchases has averaged at 19% in the past 2.5 years. So far this year, Greek owners has bought 39 tankers, only 12 of these built before 2000. Newbuild Investment Greek ship owners are not only the most active nation when it comes to sales and purchases, they are also investing the most in newbuilding contracts, BIMCO reported. Since 2010, contracts made by owners in Greece total $51B, dwarfing the likes of Norway and China as buyers. “The Greek ship owners’ interest in newbuilding contracts has continued into 2014, where 73 new contracts valued at $4.3 billion have been signed,” said Sand


ITIC Says: Ship Managers Must Beware of Increase in Claims by Owners

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International Transport Intermediaries Club (ITIC) says it has seen a noticeable increase in claims against ship managers by shipowners who are going through difficult financial times. In the latest issue of its Claims Review, ITIC notes that, as result of their financial difficulties, owners resist paying for the full maintenance of their ships and also end up owing ship managers not only for their own fees but also for disbursements paid on owners’ behalf


Exculpatory Clause in Maritime Contract

The U.S. Court of Appeals for the Eighth Circuit ruled that a clear and unequivocal exculpatory clause may exonerate a marina owner from liability to vessel owners for simple negligence. In the instant case, owners of vessels berthed at the marina signed slip agreements containing exoneration clauses. A marina employee negligently repaired a fuel pump on a vessel at the marina. The vessel caught fire and the fire spread to adjacent vessels. The vessel owners sued the marina


Sea Tow Awards New U.S. Franchises

Sea Tow Services International Inc., announced the opening of four new franchises: Sea Tow Buzzards Bay (Mass.), Sea Tow Montauk (N.Y.), Sea Tow Lake Eufaula (Ala.) and Sea Tow Lake Lewisville (Tx.). The company also announced the sale and transfer of ownership of three existing franchise areas. Captain Walter Garschagen is the new owner of Sea Tow Central Hudson (N.Y.), Jim and Jan Pulley are the new owners of Sea Tow Table Rock Lake (Mo.), and Capt


Emergency Evacuation Plan Does Not Create Legal Duties

The U.S. Court of Appeals for the Fifth Circuit has ruled that an Emergency Evacuation Plan for a mobile offshore drilling unit (MODU) does not create legal duties to third parties. U.S. Coast Guard requires the operator of MODUs located on the U.S. outer continental shelf to prepare and submit an emergency evacuation plan. Two employees on a MODU alleged that they were injured while being evacuated to shore as a hurricane approached


BIMCO: Greek Shipowners Prefer Bulkers

BIMCO Greek Bulkers.jpg

The buying interest from Greek ship owners is focused on bulkers to an increasing extent, BIMCO said. Data from VesselsValue.com reveal that Greek owners were at the buying end of 43% of all bulker sales completed so far in 2014. As of June 2014, the number of Greek bulker purchases so far is 91, compared to 81 for the full year of 2012. The level of activity seen so far in 2014 would suggest Greek owners are on target to top the 199 bulker purchases completed in 2013.


Port of Houston Deepening Project Hits Legal Snag

The Port of Houston Authority Commissioners voted recently to appeal the U.S. District Court's January 25 ruling that the Port should pay for the removal and relocation of pipelines to accommodate the widening and deepening of the Houston Ship Channel. "We believe Congress clearly specified in 1996 that pipeline owners, not the taxpayers of Harris County, should pay for the removal and relocation of pipelines needed to widen and deepen the Ship Channel," said Port Chairman James T. Edmonds


Tanker Owners Fight Back

Tanker owners, who have been retreating on freight rates for crude cargoes for several weeks, have started to fight back in recent days, especially for prompt loading dates, brokers said on Thursday. The defiant mood was illustrated by the fixture of a VLCC from the Tankers International pool to Petronas at W57.5 ($0.45), about 40 percent above the prevailing market rate. Loading in the Mideast Gulf is scheduled for two days' time with discharge in Malacca, brokers said.


GAC China Launches New Pollution Control Service

GAC China launched a new specialist service to help ship owners comply with stringent new anti-pollution regulations that come into force at the country’s ports on March 1, 2012. Under the China Maritime Safety Agency (MSA) rules, owners and operators of vessels carrying any cargo deemed to represent a potential pollution risk in Chinese territorial waters must work with a Government-approved Ship Pollution Response Organisation (SPRO) to establish and implement a detailed Ship Pollution


ClassNK Announces Massive Expansion in Europe

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Classification society ClassNK announced it will soon open more than five new offices in Europe. The announcement was made during a press conference held during the Nor-Shipping 2013 exhibition, and was highlighted by a special signing ceremony which saw four renowned Northern European owners officially transfer nearly a dozen vessels to ClassNK. The new expansion which includes new offices already established in Klaipeda, Lithuania, and Ebeltoft


Star Clippers to Build Massive Square Rigger

Photo courtesy of Star Clipppers

Tall ship sailing specialist Star Clippers has announced that it has started building a fourth ship to add to its fleet of graceful square-riggers; its first new-build since the launch of Royal Clipper in July 2000. The new vessel, yet to be named


UKHO ‘Living with ECDIS’ Seminars at Nor-Shipping

Captain Paul Hailwood, UKHO ECDIS Seminar (Photo: UKHO)

Seminar to include information on updated IHO ENC Standards   The United Kingdom Hydrographic Office (UKHO) has announced the details of its free-to-attend ECDIS Seminars at Nor-Shipping, which have been updated to include the implications for shipowners and operators of the updated IHO ENC


Sulfur-Laden Bulk Carrier Grounds off Port Arthur, TX

The U.S. Coast Guard is working with state and local partners in response to a bulk carrier loaded with sulfur that ran aground in the Gulf of Mexico Tuesday, while transiting outbound from Neches Industrial Park. At approximately 1:30 p.m.


Chevron Hires Viking Princess

Viking Princess. Photo by Eidesvik Offshore

 Eidesvik Offshore has signed a contract for 19 months with Chevron UK employment for one platform supply vessel (PSV) Viking Princess.    The vessel will be delivered to Chevron towards the end of June, and has been trading in the North Sea spot market for the past months. 


Unithai Shipyard Awarded 2,000th Ship Repair Order

Photo: Unithai Shipyard

Unithai Shipyard was recently awarded its 2,000th contract for repairing a vessel in dry dock.   The largest shipyard in Thailand, Unithai performs an average of 100 vessel repairs per year, recording its 1,000th repair order in 2006. And if repair operations afloat are also tallied


Apply Now for the MN 100

MNAUG14Cover-44258.jpg

The August 2015 edition of Marine News, the leading voice in the North American workboat market, will feature 100 leaders and innovators, including workboat owners and operators, workboat builders and repairers, and product and service providers.  


LPG Coaster Shipping Market to Remain Weak in 2015

Freight Rates (Source: Drewrys LPG Forecaster)

The LPG coaster shipping market continues to be plagued by excess vessel supply with rates remaining stubbornly below pre-financial crisis levels, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.


HSH Bank to Split Off Bad Shipping Loans

German lender HSH Nordbank could split off a "bad bank" for non-performing shipping loans as part of a plan to create a sustainable business model, according to a person familiar with the matter. Germany's Manager Magazin reported earlier on Thursday that the city of Hamburg was


Electric & Hybrid Propulsion Ordered fir CMAL Ferry

The keel of the third hybrid ferry at Ferguson Marine Engineering (Photo: CMAL)

Imtech Marine informs it has been awarded a third contract to supply the electric and hybrid propulsion system for a hybrid ferry operated by Caledonian Maritime Assets Ltd (CMAL) of Scotland.   Ferguson Marine, the Glasgow-based yard which built the first two CMAL diesel electric


Sea Urchin Haven Disturbed by Oil Spill

Santa Barbara Photo Wikipedia

  Stephanie Mutz makes a living plucking sea urchins from the Santa Barbara coast and selling the prickly treasure to upscale restaurants in Southern California. Now, she needs new hunting grounds. The coast, thought to be one of the world's best places for harvesting sea urchins


DNV GL’s Synergi to Manage Siem Offshore Newbuilding Projects

Illustration Siem Offshore

Siem Offshore has chosen DNV GL’s Synergi Project to manage nine newbuilding projects. Synergi Project software The software is used to optimize the collaboration between Siem Offshore and the yards and to keep control of building processes.


Apply Now for the MN 100

MNAUG14Cover-44258.jpg

The August 2015 edition of Marine News, the leading voice in the North American workboat market, will feature 100 leaders and innovators, including workboat owners and operators, workboat builders and repairers, and product and service providers.  


Bangladesh at Front of Shipbreaking Activity

Graph: Clarkson Research Services

 There has been a firm level of ship demolition activity in the first four months of 2015 and the two largest owner regions, Asia/Pacific and Europe account for 88% of the tonnage sold for recycling, according to the latest review of shipbreaking trend by Clarkson Research.    


Masterbulk, SeaSafe Ink Lifeboat Service Deal

Photo: SeaSafe Marine

Masterbulk Singapore has entered into a five-year global sole service supplier agreement with the Wallem Group’s lifeboat maintenance service company, SeaSafe Marine. The agreement is for lifeboat services on Masterbulk’s fleet of 20 open hatch gantry crane vessels.  


US Counter-piracyTeam Earns Panama's Approval

Jonathan McConnell, Fernando Solorzano (Photo: Meridian)

Meridian’s counter-piracy teams may now operate aboard vessels flying the Panama flag, following a vetting process that validated the quality of the US-based private maritime security company. The final decision was made this week by the Panama Maritime Authority






 
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