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
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
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 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
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
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 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, 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 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
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
The United States imposed sanctions on a Singapore-based shipping firm and its president, alleging they are supporting illicit arms imports into North Korea. The Treasury Department said that Senat Shipping Company was providing extensive support to Ocean Maritime Management Company
Turkish shipyard Alia Yachts has launched the 41.29 metre full-displacement motor yacht Rüya. She is a tri-deck sub-500 gross tonne motoryacht that was built in all-composite to Lloyds Register standards and adheres to LY2 and MCA.
Dorian LPG Ltd. an owner and operator of modern Very Large Gas Carriers (VLGC), reported today that it took delivery of the ECO VLGC Continental from Hyundai Samho Heavy Industries. Continental is Dorian LPG's seventh newbuilding delivery and will be operated in the Helios LPG Pool
Singapore-based Senat Shipping said on Friday it had done nothing illegal and that it was unreasonable to be put on a U.S. sanctions list for alleged connection with a blacklisted North Korean shipping company. The U.S. Department of Treasury on Thursday listed Senat
Collaboration will help shipbuilding company offer built-in digital technologies to improve operational efficiency and decision making processes for ship owners Shipbuilder Hyundai Heavy Industries is collaborating with technology service provider Accenture to design a ‘connected
As a global move toward using cleaner fuel takes place, countries are forming new or reforming old regulations which see jurisdictions increasingly demanding the use of low-sulphur fuel in ships that berth in their ports. This results in a possibility for heavy penalties to be imposed on
Lloyd’s Register North America, Inc. (LR) has teamed with Penn Oak Energy Corp to help companies raise capital and mitigate the technical risks associated with retrofitting ships fuelled by liquid natural gas (LNG), by providing a one-stop-shop solution to the industry.
It’s no coincidence that Class standard bearer DNV GL’s incoming group chief exec, Remi Eriksen, is a former telecoms engineer who knows his way around Houston (IT) and Singapore (yards). After all, the satellite communications industry understands shipping
Published today, a new report from the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) highlights a continuing trend in South East Asia in the hijacking of small coastal tankers by maritime pirates, averaging one attack every two weeks.
An infographic examining the laden VLCCs owned by Iran has been generated by online ship intelligence and information service VesselValue.com. Iran stands at present as the fifth largest owner of laden VLCCs in the world by value, currently with 25 vessels worth a total value of $1
Hanjin Group opened its creative economy innovation center in Incheon on Wednesday, hoping to develop the city into a distribution hub of Northeast Asia utilizing advanced shipping technologies. As part of the center, Hanjin created a fund worth 159 billion won ($138 million)
Intertanko has issued a strong protest against Nigeria's decision to ban 113 tankers from its coast. Nigeria's state oil company NNPC has recently banned 113 oil tankers from the country's waters, citing a directive from President Muhammadu Buhari
A ban on 113 oil tankers by Nigerian state oil company NNPC must be lifted immediately as no grounds have been given for the measure, the global oil tanker industry association said in a letter of protest. NNPC issued a letter on July 15, citing a directive from President Muhammadu Buhari
The master and owners of the Hong Kong registered bulk carrier ANL Kardinia have been prosecuted for illegally dumping garbage in the Great Barrier Reef Marine Park. Prosecuted by the Australian Maritime Safety Authority (AMSA), One Armania Shipping Ltd
The first Wärtsilä low-speed two-stroke dual-fuel (DF) engine destined for a commercial application has reportedly completed its Factory Acceptance Test (FAT) at a Chinese licensee of Winterthur Gas & Diesel (WinGD), the Switzerland-based designer