Marine link
 

OWNER

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


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.


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


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.


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


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


BIMCO Environmental Performance Guide

File photo - Bimco guide for environmental performance

  BIMCO today launched a new, multi-part guidance resource to support ship owners and operators in improving their environmental performance and the efficiency of their ships. BIMCO’s Guide to Maritime Environmental & Efficiency Management


ECO Orders Rolls-Royce Equipment for New AHTS

Photo courtesy of Rolls-Royce

Rolls-Royce has been awarded a contract worth $30.6m with the American owner Edison Chouest Offshore (ECO). The contract for ship equipment comprises Azimuth main propulsion, propulsion control systems, anchor winches and an anchor handling crane for an Anchor Handling Tug Supply vessel (AHTS)


Kvichak, Vigor Announce Merger

Vigor CEO and owner Frank Foti

Merger positions combined company to play a dominant role in recapitalization of North Pacific fishing fleet and emerging Arctic oil gas operations. Kvichak Marine Industries and Vigor Industrial today announced the companies are merging to unite their strengths in the design and fabrication of


Genting Acquires Crystal Cruises

 CRYSTAL SERENITY at sea, courtesy of Crystal Cruises

 Crystal Cruises has been sold for $550 million to the owner of Asia's largest cruise line and a major shareholder of Norwegian Cruise Line.    Crystal's parent company, Nippon Yusen Kabushiki Kaisha has sold the line to Genting Hong Kong, which owns Star Cruises


UAE Shipping Delegation to Meet with Greek Counterparts

Image: Drydocks World

 A delegation of Middle East maritime heavyweights including H.E. Khamis Juma Buamim, chairman & group CEO Drydocks World and Maritime World and Rashid Mohammed Al Habsi, the chief executive of Tasneef, will attend the ‘Maritime Transportation of Energy and Mediterranean Ultra Deep


VesselVanguard Partners with Hatteras Yachts

Logo

  VesselVanguard announced today a new partnership with Hatteras Yachts to provide a five-year subscription for its award-winning maintenance management solution to every buyer of a new Hatteras convertible or motor yacht. Hatteras owners will be among the first to have access to two


Shipping Industry Faces Shake Up

Photo: Aurelie Moulin

As global shipping grapples with its worst downturn in 30 years, private equity firms are unwinding massive bets made on the sector in a move set to accelerate a restructuring of the shipping industry.   Private equity invested tens of billions in global shipping after the 2008 financial


USCG Marine Safety Alert

The U.S. Coast Guard issued a marine safety alert today to remind vessel owners and operators to establish effective fuel oil changeover procedures during efforts to comply with MARPOL Annex VI emission regulations. The USCG said that several recent incidents of fuel leakages during changeovers


Former BP Boss Browne is DEA Chairman

Lord John Browne heads DEA's supervisory board * LetterOne co-owners Fridman, Khan also join * Unit changes name to DEA Deutsche Erdoel AG FRANKFURT, March 3 (Reuters) - DEA, the oil and gas company that German utility RWE sold to Russian billionaire Mikhail Fridman


Strip Club Barge Accused of Dumping Sewage into Harbor

Owners of floating Kodiak strip club indicted by Federal Grand Jury; Wild Alaskan operators accused of dumping raw sewage into Kodiak Harbor, Alaska   A federal grand jury returned a three-count indictment against the owners of a floating bar and strip club barge


Jinhui Shipping Plummets to Loss

Image: Jinhui Shipping

 Norway listed dry bulk shipper Jinhui Shipping said the tough market that owners faced last year will become tougher in 2015.   Dry bulk shipping market Environment continued to be weak despite global economic confidence has been improving in the fourth quarter of 2014.  


NMM lines up Box Buy

Courtesy of Navios Maritime Partners

  Navios Maritime Partners L.P. (NMM) an international owner and operator of container and drybulk vessels, announced today that it has secured, for no consideration, an option to acquire a 2012 South Korean-built container vessel of 13,100 TEU from an unrelated third party


Conrad Shipyard Bags LNG Order

Image: Conrad Shipyard

 Energy infrastructure and LNG solutions provider WesPac Midstream and its subsidiary Clean Marine Energy (CME) have awarded a contract to Conrad Orange Shipyard for the construction of a dedicated LNG bunker barge for the marine market in North America.  


Greek Banks Mull Cutting Shipping Portfolios

Greece's leading banks are considering offloading part of their portfolios of shipping debt worth billions of dollars in a bid to shore up their capital, according to banking and ship financing sources. Greece has secured an extension to its bailout from its European partners


Netwave's NW-6000 VDR Receives Type Approval Certification

  Netwaves NW-6000 Voyage Data Recorder (Photo courtesy of Netwave)

Netwave has received a Type Approval Certificate from BSH in Hamburg for its new NW-6000 Voyage Data Recorder (VDR). The NW-6000 is certified against MSC 333 (90) and can be installed onboard vessels which require a new VDR. “We have already received a large amount of orders in advance of






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright