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Management Statement

Braemar Shipping Interim Management Statement

Braemar Shipping Services plc isued its Interim Management Statement in relation to the period since the six months ending 31 August 2009. The group has benefited from a dry bulk market which has been stronger than many expected during much of 2009, particularly in the latter part of the year. This has mainly been due to the continuing high demand from China, and to a lesser extent India, for the import of raw material which has been sufficient to absorb the arrival of new tonnage and for the return of port congestion.  Braemar has also benefited from a good level of sale and purchase activity and demolition broking remains extremely active as the scrapping of older ships, particularly in the container and tanker sectors, continues to grow. For much of 2009 the tanker market rates have been weak due to lower global industrial energy demand and the impact of newbuilding deliveries. But there has been some improvement in rates in recent months and the Group’s transaction numbers remain strong. Additionally, Braemar’s specialised tanker team has won some important new business in recent weeks and the Group is growing its presence in the wet FFA (Forward Freight Agreement) market. The established Technical, Logistics and Environmental divisions are all performing in line with expectations.

Falling Oil Prices Help Boost Braemar Revenues

Image: Braemar Shipping

Braemar Shipping Services said its ship broking division saw an improvement in its performance during the last quarter. The merger in July with smaller rival ACM Shipping also came in as shot in the arm. A strong dollar and weak oil prices are good for business, too, and freight rates, a key driver of revenue, are up in a number of sectors.   In an interim management statement the company says that as anticipated

MERPAC Meeting

A working group of the Merchant Marine Personnel Advisory Committee (MERPAC), sponsored by the U.S. Coast Guard, will meet in Washington, DC on March 21 and 22. The purpose of the meeting is to discuss task statement #47 concerning recommendations on knowledge and practical qualifications for engineers at the operational and management levels to serve on steam propelled vessels and task statement #49 concerning recommendations for use of a model sea course project in conjunction with an

Cosco Busan Management Company Charged

A federal grand jury in returned a second superseding indictment charging Fleet Management Limited, a ship management company, with negligently causing the discharge of 50,000 gallons of oil from the Cosco Busan and falsifying documents after the crash to cover-up the company’s negligence, the Justice Department announced today.  Fleet Management, the company responsible for operating the Cosco Busan, was charged with six felony counts for making false statements and obstruction

Braemer Shipping Interim Management Statement

Braemar Shipping Services plc issued an Interim Management Statement in relation to the period since the six months ending 31 August 2008: “Shipping markets have experienced a significant correction over the past four months and in varying degrees dry and wet freight rates and vessel values are sharply lower, mainly in response to the slowing global economic demand and the significant contraction in the availability of bank lending

Braemar: Interim Management Statement

Braemar Shipping Services plc today issues its interim management statement in relation to the period since the announcement of the interim results on 25 October 2011. Over the past few months activity in the Shipbroking division has increased. The Group has seen good levels of spot chartering business particularly in deep sea tankers and in capesize bulk carriers. The specialised tanker chartering desks are also performing well

St. Lawrence Seaway Annual Report Available

The St. Lawrence Seaway Management Corporation (SLSMC) issued a statement that the 2002-2003 Annual Report is now available. Including both a narrative text and financial summary, the annual report also mentions that the SLSMC's new business plan increases maintenance expenditures by 36 percent over the next five years. Source: HK Law

Ballast Water Management Changes Proposed

The California State Lands Commission (SLC) issued a Notice of Proposed Regulatory Action relating to management of ballast water on ships of 300 gross registered tons or more arriving in California after having taken on ballast water from places within the Pacific Coast Region. The Pacific Coast Region is defined as coastal waters on the Pacific Coast of North America east of 154°W longitude and north of 25°N latitude, exclusive of the Gulf of California

Cape Wind Energy Project EIS Released

The Minerals Management Service (MMS) issued a notice stating that it has released the final environmental impact statement for the Cape Wind Energy Project.  Comments should be submitted within the next 30 days.  74 Fed. Reg. 3635  (January 21, 2009). (Source: Holland & Knight)

InterManager Salutes Capt. Vanderperre

InterManager, the international association of in-house and third party ship managers, has paid tribute to the life and memory of Captain Charles Vanderperre, the founder of Univan Ship Management and the long-accredited grandfather of modern day third party shipmanagement, who died at the age of 88. In a statement, Guy Morel, General Secretary of the Association, said: “We salute his memory and applaud the work he did in driving forward the development of third party shipmanagement

Torm Orders Four Tankers in $200 mln Deal

Photo: Torm

Danish shipping company Torm has signed an order for four fuel-efficient LR2 (long-range) product tanker vessels from Guangzhou Shipyard International in China for $200 million. The shipyard is expected to deliver the vessels between the fourth quarter of 2017 and the second quarter of 2018

Indonesia Ferry Hits Trouble, 97 Rescued

Almost 100 people were rescued when a ferry sailing towards Singapore from the Indonesian island of Batam hit a floating object and reportedly started to sink, authorities in the city-state said. Ferry operator Batamfast called out two other ferries that rescued all 90 passengers and seven crew

RINA Launches Competence Management System Certification

International classification society RINA Services has launched a new Competence Management System certification which it says helps ship owners and managers to raise the skill levels of their crews and shore staff above the basic statutory requirements

Panama Canal Wait Times Back to Normal

Photo: Panama Canal Authority

Waiting times for ships at the Panama Canal have returned to normal after poor weather and a spike in traffic caused delays for several weeks, the waterway's operator said on Monday.   "Today ... the line is 45 ships, which represents a maximum waiting time of two days

NOL Acquisition Soon?

Pic: Neptune Orient Lines

 Neptune Orient Lines(NOL) confirmed that it is continuing in discussions with respect to a potential acquisition of the group as previously announced on Nov 7 on the local bourse, reports Business Times.   This comes after the Singapore Exchange Securities Trading Limited (SGX-ST)

India to Do Away with Obsolete Shipping Rules

Photo: Official Page of Nitin Gadkari, Indias Shipping Minister

 India's Ministry of Shipping has decided to rescind thirteen rules under the Merchant Shipping Act, 1958 (as amended), having found them to be obsolete and unnecessary.   This in turn will declutter the legislative framework governing merchant shipping sector in India and streamline

Manslaughter Charges Filed in 2012 Oil Platform Blast

Two companies involved in the deadly 2012 explosion of an oil platform in the Gulf of Mexico have been indicted on federal charges of involuntary manslaughter, the U.S. Justice Department said in a statement on Thursday. Black Elk Energy Offshore Operations LLC and Grand Isle Shipyards Inc

Panama Canal Delays Reduced to Four Days: ACP

File Image: a cruise liner passes through the Panama Canal.

The wait time to pass through the Panama Canal has shortened to four days, down from more than 10 days last month, the authority that runs the waterway said on Thursday. "We have reduced by 60 percent the wait time for vessels after measures applied amid an unusual demand and extreme

SSI Urges IMO for Action on Reducing CO2 Emissions

The Sustainable Shipping Initiative (“SSI”), a pioneering coalition of companies from across the global shipping industry, today released - ahead of discussions at COP21, which will be held in Paris from 30th November - a statement calling for the shipping industry to play its part in

Commodities Hit 2002 Lows Before Rebounding on Oil

Commodities hit 13-year lows before rebounding on Monday after Saudi Arabia's pledge to work toward crude price stability bolstered oil and France's first wheat exports to Indonesia in more than six years helped lift grains markets.  

Hapag-Lloyd Boosts Direct EAX Service Between Europe and Australia

Map by Hapag-Lloyd AG

 German liner company Hapag-Lloyd has further improved the Europe Australia Express service (EAX), one of its prime products.   New port calls in Fos sur Mer and Pointe de Galets / Short transit times from Europe to Australia unchanged / Italian port switched to Salerno on Northbound

When Conducting Investigations Consider 'Privileges'

Jeffrey S. Moller

Whether voluntarily or as required by the International Safety Management Code, the American Waterways Operators’ (AWO) Responsible Carrier Program, or some other rule or regulation, investigations of accidents and near-miss situations are routinely conducted by companies in the maritime

Controversial Nicaragua Canal Project Postponed

Image: Hong Kong Nicaragua Development (HKND) Co

 China's Hong Kong Nicaragua Development (HKND) Co. said it is delaying the start of construction on a controversial $50 billion inter-ocean canal across Nicaragua until late 2016.   HKND has obtained approval for environmental studies of the canal earlier this month

Seaspan Implements ECO Insight solution

ECO Insight

  Seaspan Ship Management Ltd. will implement the DNV GL fleet performance management solution ECO Insight to improve their fleet monitoring. ECO Insight will also enable Seaspan to increase their vessel’s performance and energy efficiency.

Plans to Create Rio Doce Fund

Fundao Dam in August 2013 via Google Earth Photo BHP Billiton

  Vale and BHP Billiton announced today plans to work together, with Samarco, to establish a voluntary, non-profit fund to support the rescue and recuperation of the Rio Doce river system, affected by an accident at Samarco’s Fundão dam

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