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 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 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 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
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
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
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.
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
The 65-foot commercial passenger vessel Spirit of Kona ran aground on the island of Hawaii, Sunday, the U.S. Coast Guard reported. Coast Guard Sector Honolulu watchstanders received notification Sunday morning that the vessel ran aground on the rocks near the Kailua-Kona Lighthouse
Damen congratulates Reylaver on the safe arrival and naming ceremony of the new ASD Tug 2411 Jesus. In order to reach her owners, the vessel undertook, on her own keel, a significant voyage covering 10,500 nautical miles. Reylaver ordered the new vessel from Damen Shipyards Group in April 2015
Jakarta will boost security of small vessels after hijackings 15 July, says a report in Protection Vessels International Ltd (PVI). Indonesia is currently discussing with the International Maritime Organisation the rules for deployment of naval and coast guard vessels to escort
At high tide, the vessel “MARTIN SÆLE”, the first Live Fish Carrier built by Gondan Shipyard in Figueras, was successfully launched today. Representatives of the owner of the vessel, the Norwegian company Salmon Star AS, were present at the event.
Number of idle ships down to around 15, from 70 in early 2016 - broker. Freight rates for large capesize dry cargo ships on key Asian routes could nudge lower next week although they are generally expected to remain around the current levels, ship brokers said.
More containership capacity is being demolished than ever before, including old-design ships made redundant by the new Panama Canal. Drewry checks if this end the current capacity surplus? Now is not a good time to own an old containership
The cost of shipping oil through the Black Sea and Mediterranean fell on Monday after a failed coup in Turkey over the weekend and shipping sources said there were no disruptions through Istanbul's vital Bosphorus Strait. More than 290 people were killed and around 1
Verweij Hoebee Groep, a subsidiary of BMT Group, expanded its service portfolio with the introduction of management audits of ship owners. This unique prevention concept goes beyond the standard condition surveys which are conducted on board ships and extends to the examination of both
A record number of around 150 container vessels are expected to be scrapped in 2016 but it will not be enough for an industry battling over capacity, low demand and falling rates, consultancy firm Drewry said. In 2015, demolitions were less than half of the expected 2016 level but it will not
The situation of the shipyards in the world and in particular the struggles of the Korean shipbuilding industry has received a fair amount of attention in the shipping press, as well as in more general news outlets. Poten and Partners discusses about the outlook for vessel deliveries in the
Communication and safety at sea specialist Ocean Signal and manufacturer of marine electronic equipment AMI Marine have formed a new partnership to collaborate on product development for the large commercial vessel sector. Combining the specialist knowledge and extensive technical background of
Companies are becoming increasingly alive to the importance of cyber-security and the need to protect themselves against the risk of cyber-attacks; the marine sector is no exception, says Clyde & Co’s Shipping Newsletter.
Vessel traffic on the Neches River is restricted as a result of a shrimp boat that sank Monday morning. At approximately 3 a.m., the Captain Kevin sank in the Neches River, causing oil sheen and one minor injury. The vessel is currently located approximately 1500 feet from the end of the
Dubai Maritime City Authority (DMCA), the government authority charged with regulating, coordinating and supervising all aspects of Dubai’s maritime sector, revealed its continuing efforts in organizing anchorage of maritime crafts across Dubai waters
MacGregor, part of Cargotec, has signed a contract for the design and delivery of key components and the fabrication of steel structures for the hatch covers on board five 14,000 TEU container vessels under construction at Japan Marine United's (JMU) Kure shipyard