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.
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 National Marine Fisheries Service (NOAA Fisheries) reminds all shrimp vessels owners and operators who intend to fish for shrimp in Federal waters of the Gulf of Mexico that they must obtain a commercial vessel permit by December 5, 2002. The rule requiring shrimp vessel permits became effective on September 6, 2002. A previous bulletin provided incorrect dates for the effective date of the rule and the date by which all vessel owners or operators must have a shrimp vessel permit in
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
“Ships and offshore structures are becoming more and more interconnected,” said Tor Svensen, CEO DNV GL - Maritime, when taking the stage at this year’s CMA (Connecticut Maritime Association) event in Stamford, CT. “In theory
The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders. The new company, which will be called Golden Ocean Group Limited
Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators. Now, with oil prices down by half since June
Building Capacity, as Deadline for Trained Crews Nears “You see that ship. That’s our ship,” says Karsten Saevik, as he directs our attention to the virtual image of one of his platform supply vessels on a computer screen in a darkened room
A federal court ruled on Wednesday that BP well site leaders on the Deepwater Horizon oil rig cannot be charged with seaman's manslaughter in the deaths of eleven workers that died during the 2010 rig explosion because they were not seamen.
A Georgian court has taken control of the Black Sea oil terminal at Batumi after a legal case brought by shipping operators, a port official said on Monday. The terminal is still operating but since Saturday has been under the control of the court which is dictating certain conditions
With Royal Caribbean’s Quantum of the Seas home-ported in Shanghai for 2015 and TUI Cruises launching its inaugural Asian season, eyes are on Asia’s expanding cruise market. However, while Asia may be unexplored territory for many cruise owners and ships service suppliers
The tanker Singa Berlian has been hijacked, off Pulau Repong, Indonesia, by armed pirates, reported anti-piracy watchdog International Maritime Bureau (IMB). According to the report, the incident took place on March 9 at about 9 pm local time some 37 nautical miles south of Pulau
Palau International Ship Registry (PISR) has received a high volume of applications from owners looking to have the correct documentation in place prior to the imminent entry into force of the Nairobi Wreck Removal Convention. Marisabel Arauz Park
Owners resist charterers moves to force rates under W50; West Africa cargo volumes remain steady. Rates for very large crude carriers (VLCCs) on key Asian routes will face further pressure next week even as owners resist attempts to push rates lower, brokers said.
Global marine terminal operator DP World today announced strong financial results from its global portfolio of marine terminals for the twelve months ended 31 December 2014. Like-for-like1 revenue grew 11.3% and adjusted EBITDA increased 16
SENER informs it will take active part in SINAVAL-EUROFISHING from April 21-23, a fair held every two years in Bilbao. During the exhibition, SENER will present the new enhancements in the shipbuilding CAD/CAM system FORAN, in all disciplines (forms
European, Turkish and Chinese recyclers are set to benefit from strict new EU rules on breaking up old ships, but the practice of dismantling them on beaches in South Asia at great human and environmental cost will still be hard to stop.
Fuel saving measures can have a negative effect on the lashing forces on the containers, according to Maritime London member BMT Surveys. The company's risk & quality manager and marine surveyor, Olivier van der Kruijs, bases this warning on audits on more than 100 container vessels
Digital Boat Profile and Customer Service Portal Gives Cutting Edge Options for Vessel Management to Boat Owners Palm Beach Gardens, Fla. VesselVanguard, infomred today a new relationship with Chris-Craft to provide a two-year subscription for its award-winning maintenance management