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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

iticlogoweb.jpg

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.


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

Signing Ceremony - 6-6-13 Oslo.jpg

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


Seized Hanjin Shipping Vessel Resumes Operation in South Africa

Hanjin Paradip. Photo: Hanjin Shipping

 Hanjin Paradip resume  its sailing from South Africa as talks continue with owner over unpaid charter fees. The ship had been detained in Richards Bay, South Africa earlier last week over unpaid charter fees.   The vessel in 82,158 deadweight tonnage (DWT) was used to carry grain and minerals.   “We agreed with the ship owner that the normal vessel operation is the most important for interests of the both parties,” Hanjin said


Asia Dry Bulk-Capesize Rates Sliding as Overcapacity Weighs

File Image: a dry bulk vessel underway (CREDIT: Norden)

Capesize rates 26-33 pct higher than a year ago, but could fall towards Chinese New Year. Freight rates for large capesize dry cargo ships on key Asian routes may fall further next week as prospects for a pre-Christmas rally fade with ship supply outpacing cargo demand, ship brokers said.


Radio Holland Turns 100

Presentation of the anniversary book A Century Radio Holland during the festive celebration of the 100th anniversary of Radio Holland on board of the ss Rotterdam. From left; Paul Smulders (CEO Radio Holland Group), Ing. A. Aboutaleb (Mayor of Rotterdam), Erik van der Noordaa (CEO RH Marine Group) and Ben Vree (Chairman of the supervisory board of RH Marine Group). (Photo: Radio Holland)

Radio Holland celebrates its 100th anniversary and announces start of anniversary year Radio Holland Group (Rotterdam) celebrated its 100th anniversary in the maritime shipping industry. The event took place on board of the historical ship ss Rotterdam


Verifavia Performs Audit for Dynacom

Photo: Verifavia Shipping

 Verifavia, the world’s leading emissions verification company for the transport sector (aviation and shipping), has commenced a ‘pre-verification GAP-Analysis’ audit for Greek-based Dynacom Tankers Management Ltd. (Dynacom).   


The Swedish Club: 0% General Increase

Lars Rhodin (Photo: The Swedish Club)

In a move designed to support owners in difficult trading conditions, for the second year running The Swedish Club has announced a zero percent general increase for the up-coming P&I renewals 2017-2018. Speaking at the Club’s Board meeting in Bangkok, Lars Rhodin


James Murray Joins Gulfstream Shipbuilding Management Team

James Murray (Photo: Gulfsteam Shipbuilding)

Gulfstream Shipbuilding welcomes James Murray, a second generation boat builder and operator/owner, to the Sales Management Team. James is the son of Jim Murray, who originally opened the shipyard 35 years ago as Freeport Shipbuilding.  James built a variety of custom boats at the shipyard


Industry to Prevent Shipping of Counterfeit Goods

Brand owners and representatives from the international shipping industry have joined forces in signing an historic declaration of intent aimed at preventing the maritime transport of counterfeit goods. Leaders from global shipping firms, freight forwarders


ExxonMobil Sees PNG LNG Producing at 16 pct Above Nameplate

Photo:  PNG LNG

 ExxonMobil expects to deliver 7.9 million tonnes of liquefied natural gas from Papua New Guinea this year, around 14 percent above nameplate capacity of its PNG LNG plant,  says a report in Reuter's quoting the company's PNG head.  


Kleven Delivers 116 m Superyacht

Norway’s Kleven has delivered a 116 m superyacht to its owner, Graeme Hart. The vessel left Kleven Verft in Ulsteinvik, Norway this weekend, heading for Germany, where the final completion of the vessel is to be carried out by mid 2017.   


India Readies Draft Inland Vessels Bill, 2016

Indias Minister of State for Shipping Mansukh L. Mandaviya. Photo: Press Information Bureau, Government of India

 The following are the salient features of the draft Inland Vessels Bill, 2016 of India.   The Draft Inland Vessels Bill, 2016 covers the Preamble and has 16 parts i.e. Part I to Part XVI. The salient features are:   1.         Part I- enables the Central


Fincantieri makes First Delivery to Seabourn Cruise

Seabourn Encore is the first cruse ship to be delivered Photo Fincantieri

The handover ceremony of “Seabourn Encore”, the first of two ultra-luxury cruise ships ordered to Fincantieri by the ship owner Seabourn Cruise Line, brand of Carnival Corporation, the world’s largest cruise company, took place today at the Marghera shipyard (Venice).


McAllister Sells Two Tugs to Port City Marine

Photo: Marcon International

The 4,300HP tugs Colleen McAllister (ex-Ellena Hicks, Hull 685) and Katie G. McAllister (ex-Libby Black, Hull 671) have been sold and delivered to new owners Port City Marine Services of Muskegon, Mich., reported Marcon International, Inc.  


Fuel Talk: Greener Ships 'Abandoned'

Push Back: Leaders citing limited returns for “green-fuels” investments include (from left): Håvard Ulstein, MD, Island Offshore; Karsten Sævik, CEO, Remøy Shipping; and Ståle Kyrkjedelen, Norway’s Operations Manager, Bourbon Offshore. (Photo: William Stoichevski)

In the immortal words of one Kermit the Frog, “it’s not easy being green.” Nor inexpensive. Offshore ship owners managing the demand “fallout” of the past year and navigating myriad environmental strictures say their leap of faith toward greener fuels has taken its


CMA-CGM to the Rescue of Kito de Pavant

Photo: CMA CGM

 On Tuesday morning (December 06, 2016), the navigator Kito de Pavant suffered a serious damage following a collision with an unidentified floating object while sailing in the North of the Crozet Islands.   The crew CMA CGM Marion Dufresne then immediately modified its route in order


AET for Improved Crack, Corrosion Detection

Acoustic Emissions Wiring - George Wang Photo ABS

ABS has published the ABS Guidance Notes on Structural Monitoring Using Acoustic Emissions. This industry-leading guidance presents best practices for planning and executing Acoustic Emission Testing (AET). “A primary goal at ABS is to improve safety without interrupting operations


Dry Bulk Owners Say the Worst is Over

© Volodymyr Kyrylyuk / Adobe Stock

The worst is over for the dry bulk shipping sector, after years when too many ships chased too little cargo, yet the extent of the lost business means a full recovery is still some way off, leading ship owners said on Wednesday.   Dry bulk shipping






 
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