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News Flash! Greek Shipowners Prefer Bulkers

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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


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.


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


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


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


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


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.


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


NOAA Fisheries Offer Gulf Shrimp Vessel Permit Reminder

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


Pine Galaxy Expected to Arrive in San Francisco Today

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  The disabled mixed-products tanker Pine Galaxy is expected to arrive in San Francisco Wednesday morning. The ship is being towed by commercial tug to San Francisco Bay. It will be met by additional tugs to ensure increased control of the ship is maintained during the transit inside the


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


MN 100: ESRG

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5032 Rouse Drive Virginia Beach, VA 23462 Telephone: 757 965 5963 E-mail: ashley.mclaughlin@esrgtech.com Website: www.esrgtech.com CEO/President: Ken Krooner Number of Employees: 22 The Company: Since 2000, ESRG has provided leading edge data analytics and remote monitoring technology to


OP/ED: The State of Piracy

John Thompson, co-founder of Ambrey Risk

Piracy’s gone away, right? You’d be forgiven for thinking that.   The predominant narrative for the Indian Ocean is that Piracy has been suppressed to an extent that ship-owners are requesting fewer guards, even unarmed in some cases


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


Airbus May Sell Stake in Submarine Supplier

Image: Atlas Elektronik

Airbus is considering a sale of its 49 percent stake in submarine supplier Atlas Elektronik as part of a reshuffle of its military business, German newspaper Die Welt reported on its website on Friday, citing industry sources. Aerospace and defence group Airbus - then called EADS - and German


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


MN 100: Delta T Systems, Inc.

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858 west 13th Court Riviera Beach, FL 33404 Telephone: 561 204 1500 E-mail: michael.gabriel@deltatsystems.com Website: www.deltatsystems.com CEO/President: Lynn Oien Number of Employees: 15 The Company: Delta T Systems designs and manufactures money-saving engine room ventilation systems


'Double Jeopardy – Trial by Media, Trial by Law' London Opening

HFO Spill: Photo Oil Spill Solutions

BIMCO notes that the highly acclaimed "Double Jeopardy - trial by media, trial by law" first showcased at the BIMCO AGM in Dubai earlier this year is to be brought to the stage in a London theatre production on 3 November. This highly novel event blends theatre


UK's Condor Buys Austal 102 Fast Ferry

Austal 102: Photo courtesy of Austal

Condor Ferries says it has completed purchase of the Austal 102, a state-of -the-art high speed ferry which will operate between the Channel Islands and the UK. The latest addition to the Condor fleet will come into service in spring 2015 and will secure the future of high speed ferry services


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


Permanent On-site Collision Damage Repair in Greece

Hydrex diver performing initial inspection of the damaged hull. (Photo: Hydrex)

In July Hydrex mobilized a team of diver/technicians to Syros, Greece, for a complex repair operation on a 118-meter, 8550 DWT chemical tanker. The vessel had suffered large cracks in her hull plating as the result of a collision. She was not allowed to sail any further


VSTEP Delivers FMB Simulator to Danaos

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Danaos Corporation purchased a NAUTIS DNV Class A FMB Simulator and Instructor Station for training of its fleet members.  The simulator will be delivered and installed by VSTEP at Danaos Shipping Co Ltd. Headquarters in Piraeus, Greece.  


BWTS SeaCURE Gains USCG AMS Acceptance

Ballast water discharge: File photo

Evoqua Water Technologies LLC says that its SeaCURE Ballast Water Treatment System (BWTS) has been granted AMS Acceptance in all salinities. System highlights SeaCURE benefits ship owners by providing a solution that can operate in fresh






 
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