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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.


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


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


Shipbreaking Practices in 2015 Reveal Appalling Record -Report

Graphics: NGO Shipbreaking Platform

Ignoring industry leaders and human rights and environmental organizations, ship owners continue to profit from dangerous and dirty shipbreaking practices on South Asian beaches in 2015, according to new data released today by the NGO Shipbreaking Platform.


States Urged to Ratify Compensation Regime for Hazardous and Noxious Cargoes

Pic: International Maritime Organization

 The International Maritime Organization (IMO), together with the International Oil Pollution Compensation Funds (IOPC Funds) and the International Tanker Owners Pollution Federation (ITOPF), is urging its Member States to ratify and implement a key compensation treaty covering the transport


Interactive Map Highlights Shipping's Global Security Threats

RiskMap Courtesy TMG

Ship owners and managers can now view what security threats a country poses to shipping lines with the click of a button thanks to a new live interactive map.   The security and risk mapping system RiskMap provides a new and unique way of viewing and categorising up-to-the-minute security


‘Choice Alliance’ Formed to Serve BWT Market

A strategic alliance between Choice Ballast Solutions and Drew Marine has been formed to provide vertically integrated capabilities within the ballast water treatment (BWT) market. The two firms have joined to form “Choice Alliance” which will provide ship owners with -BWT


USCG Search for Dinghy Owner near Kaneohe Bay, OAHU

U.S. Coast Guard photos

The Coast Guard is seeking the public's help identifying the owner of a 13-foot white sailing dinghy found near Kaneohe Bay, Wednesday. Anyone with information that may help identify the owner of the sailing dinghy is asked to contact the Coast Guard Sector Honolulu Command Center at


Mercator Sells Five Bulkers

Photo: Mercator Lines

 Singapore’s dry bulk shipping company Mercator Lines Limited has has entered into Memoranda of Agreements to sell five bulk carriers, the company’s judicial manager said.   The judicial manager appointed to oversee the bankruptcy of Mercator Lines (Singapore) has announced


New SOLAS Requirements for Testing Instruments

Further to Class News 33/2014 and 10/2015, SOLAS regulation XI-1/7 adopted by IMO Resolution MSC.380(94) will enter into force on July 1, 2016, requiring the carriage of an appropriate atmosphere testing instrument or instruments for enclosed space entry.  


Non-EU Europe Fishing Fleets: Europe’s Profitable 'Outsiders'

Biggest in class: Kleven’s Gitte  Henning newbuild. (Illustration: Handout)

With three species of migrating cod to fish and new commercial species arriving as oceans warm, Norway is a fisheries Valhalla. Yet, recent boat sales suggest the Scandinavian country’s role is changing. Vessel orders and rules in Norway are propping up yards and designers on Europe’s


Driving the Inland Waterways

Eastern Thunderbolt  Towboat Proposal Profile

Propulsion evolves, improves and powers forward in the inland markets. And, Z-Drive propulsion is the future. In a white paper released late in 2014 by The Shearer Group, Ed Shearer and Greg Beers outlined The Next Generation of inland vessels


Norway Exempts Idled OSV's From License Fee

Owners of ships serving the oil industry will be exempt from paying license fees for 2016 on vessels that have been mothballed, Norway's industry minister said in a statement on Tuesday. The price of crude oil has plunged 70 percent since mid-2014


BP Pulls Plug on Oceaneering Vessel Contract

Photo: Oceaneering International, Inc

 UK giant BP will end a contract off Angola with Oceaneering International about eight months early.   Oceaneering International has announced that BP has exercised its right to terminate its use of the chartered vessel Bourbon Oceanteam 101 at the end of May 2016.  


Wilhelmsen Ships Service: Mastering Complex Logistics

Photo: WSS

From racing boats to steel pipelines, windmill blades to massive hydraulic hammers, Wilhelmsen Ships Service (WSS) says its personnel in the Middle East can move just about anything, anywhere.   Last summer, WSS was contracted to source ocean transportation options for the return of


Asia Dry Bulk-Capesize Rates Should Remain Flat

Western Australia-China rates hit near 17-year low; owners explore laying-up ships. Freight rates for capesize bulk carriers on key Asian routes should remain flat next week as the Lunar New Year holiday in China will curtail chartering activity, shipbrokers said on Thursday.


ABS Publishes CyberSafety Guidance

ABS has published Guidance Notes on the Application of Cybersecurity Principles to Marine and Offshore Operations.   This cybersecurity guidance note is the first volume in the ABS CyberSafety series, and provides best practices for cybersecurity as a foundational element of overall safety


Dumpers 2015 - Examples of Particularly Bad Practices

Photo:  NGO Shipbreaking Platform

 The worst dumper prize goes to IDAN OFER, son of shipping magnate Sammy Ofer. Idan Ofer owns QUANTUM PACIFIC GROUP and has a controlling stake in Israel’s largest publicly traded company, ISRAEL CORPORATION.    Combined






 
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