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Olivier Named UK Club Chairman

Alan Olivier, the new Chairman and President of the UK P&I Club

Alan Olivier was elected Chairman and President of the UK P&I Club at their board meeting in Bermuda on October 28. He succeeds Dino Caroussis who has retired from the board. Mr. Olivier, 53, Chief Executive Officer of Grindrod Limited, became a Director of the UK Club in 2000 and a Deputy Chairman in 2006. Mr. Caroussis, 61, of Chios Navigation, had been the Club’s Chairman for the past five years, having joined the board in 1996 in the shipping division. He held senior treasury and financial positions before his appointment as chief executive of Unicorn Shipping in 1995. He was appointed to the Grindrod Limited board in May 1999, where he is now chief executive. Alan is a director of local and international subsidiary companies, including Grindrod Bank Limited. Following the Club’s Annual General Meeting seven new Directors joined the UK board. They are Sheikh Talal Al-Khalid Al Sabah of Kuwait Oil Tanker Company; Angela Chao of Foremost Group, New York; Michael Fostiropoulos of Almi Tankers; Polys Hajioannou of Safe Bulkers, Athens; Edouard Louis-Dreyfus of Louis Dreyfus Armateurs, Paris; Paul Wogan of Gaslog, Monaco; and Riad Zein of Naftomar Shipping & Trading, Athens. Sheikh Talal Al Khalid Al Sabah is the Chief Executive Officer of Kuwait Oil Tanker Company in Kuwait. He joined Kuwait Oil Company in 1983 after graduating in business administration and gained his MBA in 1986


Safe Bulkers Announce Public Offering

Safe Bulkers, Inc., an international provider of marine drybulk transpor tation services, announced that it plans to offer its Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share to the public. In connection with the public offering, the company intends to grant the underwriters a 30-day option to purchase additional shares of the Series B Preferred Shares


Ships Reported Sold

Bulker, Reliance Ocean - (built 1980) 194,399 dwt sold for $8 million. Bulker, Lucky Bulker - (built 1977) 70,600 dwt sold for $2.1 million. Bulker, Coral Halo - (built 1995) 45,320 dwt and sistership Flaxen Halo (built 1997) 47,240 dwt sold for $34 million en-bloc. Bulker, Pacific Splendour - (built 1984) 41,373 dwt sold to Apex for $7.8 million. Tanker, Presidente Rivera - (built 1981) 87,325 dwt sold for $6.1 million.


Bulker Under Tow Off Brazil

Arrangements are being made to take the Maltese-flagged bulker Olympus, now off Brazil, under tow, Reuters reported. The 34,995 dwt bulker was involved in a collision with the Brazilian-flagged bulker Sao Sebastiao, close to Tramandai, south Brazil, on May 30. Olympus, laden with 27,000 tons of wheat, will be towed to an as yet unknown port. - (Reuters)


Shipsales

Tanker Sentinel - (built 1986) 106,722 dwt sold for $14.4 million. Tanker Bow Explorer - (built 1975) 31,501 dwt sold to Vulcanus for $4 million. Tanker Jo Breid - (built 1981) 26,300 dwt sold to Norwegian buyers for $7.5 million. Bulker Red Rose - (built 1978) 75,720 dwt sold for $2.35 million. Bulker Lionsgate Bulker - (built 1996) sold to London based Greek buyers for $18.25 million. Bulker Litrotis - (built 1981) 64,120 dwt sold at auction in Singapore for $3.5 million.


Safe Bulkers Close Series B Preferred Shares

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today the closing of its previously announced public offering of 800,000 shares of its 8% Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share at a price of $25.00 per share. The company also announced the closing of its previously announced private placement of 800


Bulker Runs Aground

The Liberia-flag bulker Golden Bay carrying a cargo of steel, ran aground at the entrance to the Dardanelles, Turkey, on May 14, Reuters reported. The 25,599 dwt bulker was to make an attempt at refloating itself. Golden Bay had been on a voyage from Novorossisk, Russia to Piraeus, Greece.


Bulker Remains Aground

The Panama-flag bulker Captain George Tsangaris was still aground on Round Island near Trincomalee in Sri Lanka on May 15, Reuters reported. It was believed that its cargo would have to be transhipped before it could be refloated. The 61,349 dwt bulker had been due to berth at the Prima Jetty to discharge its cargo of 52,653 tons of wheat when it ran aground. Some water had entered the vessel but there was no report of any damage to the cargo.


Bulker Refloated

The St. Vincent and Grenadines-flagged bulker Pooja, was refloated on October 30 at Carrick roads by a tug and then towed to Falmouth, England, Reuters reported. No pollution was reported. The 33,111 dwt bulker ran into trouble after it started to drag its anchor in bad weather. It did manage to raise its anchor but subsequently ran aground on Monday in the entrance to Carrick roads.


Bulker Under Tow

The Panamanian-flagged bulker Flame was taken in tow by a salvage tug on August 8, after suffering main engine failure in the mid-Atlantic on August 4. The 29,212 dwt bulker was last reported proceeding in the direction of Trinidad.


SAFE Boats Partners with NASBLA

safe boats.jpg

SAFE Boats International announced a Mission Partner Sponsorship with the National Association of State Boating Law Administrators (NASBLA). Signed on July 28, 2014, this agreement unifies the interconnected missions of both organizations to jointly enhance the safety and security of our


New Bulk Carrier Design Puts Ecoships in the Lotus Position

Artist’s impression of Ecoships’ Eco-Smart Greenlotus 32

Ecoships, the technical shipmanagement arm of Newport Shipping Group, has introduced a next generation bulk carrier design, developed to set the standard in ecologically compatible marine transportation. Inspired by the low friction to water flow and self-cleaning properties of the lotus flower


DryShips Cancels Newbuild Contracts

DryShips Inc. reports cancellation of four newbuilding contracts with Jiangsu Rongsheng Heavy Industries DryShips Inc., an international provider of marine transportation services for drybulk and petroleum cargos, and through its majority owned subsidiary, Ocean Rig UDW Inc


Latest Ocean-going Shipbuilding Orders

Bow shot: File photo

A number of orders are reported by Clarkson Hellas in their latest S&P Weekly Bulletin, with contracts being signed across the Dry Bulk, Tanker and Container markets. Dry bulk carriers Activity has been focused amongst the small/midsized vessels with Empros Lines reported to have signed up


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


Global Ocean Trade: Latest Shipbuilding Orders

File image

Shipbuilding orders for drybulk carriers, tankships, containerships and a RoRo were placed in the past week according to 'Clarkson Hellas S&P Weekly Bulletin'. Dry bulk carriers Cara Shipping, the shipping arm of Chinese domestic company Rizhao Steel, has placed orders for two further 250


Lauritzen & Namura Sign Newbuilding Contract

Lauritzen and Namura sign newbuilding contract

  Lauritzen Bulkers and Namura Shipbuilding Co., Ltd., Japan have signed contracts for building at Hakodate of two bulk carriers at a signing ceremony in Copenhagen on 10 June 2014. The deal consists of two 34,000 dwt eco design handysize bulk carriers for delivery in 2017.


Safe Bulkers Tops Annual Ranking Of Shipping Companies

Safe Bulkers Image

  Safe Bulkers, Inc. an international provider of marine drybulk transportation services, announced today that it has been ranked and awarded the First Place in “Marine Money's 2013 annual rankings of the Publicly Traded Shipping Companies”


MacGregor Hatch Covers for 10 Newbuild Bulkers

MacRack is a cost-effective and environmentally-friendly electric-drive system that both lifts the side-rolling hatch cover panels up and moves them away from each other into the open position (photo courtesy of MacGregor)

MacGregor, part of Cargotec, has won an order from Sungdong Shipyard in South Korea for side rolling hatch covers for ten 180,000dwt bulk carriers with electrically-operated opening and closing system, MacRack. The ships are being built for the New York listed Scorpio Bulkers Inc


SafeBulkers Price Public Offering

Bulk carrier: Photo SafeBulkers

Greece's Safe Bulkers, Inc. has set the price of its public offering offering of shares. The Company says it plans to use the net proceeds of the public offering to fund its newbuilding program and for other general corporate purposes, which may include repayment of indebtedness.


American Club Expands E-Learning Offering

The American P&I Club has added to its library of e-learning modules released in cooperation with IDESS IT in the Philippines. The new module covers compliance with The Code of Practice for the Safe Loading and Unloading of Bulk Carriers (BLU Code)


Algoma Christens Equinox-class Laker on Arrival

Laker Algoma Harvester: Photo Algoma Central

Algoma Central Corporation announces the arrival in Canada and the christening of its second Equinox Class bulk cargo vessel, the 'Algoma Harvester'. The christening took place at Pier 26 South in Hamilton Harbour before an audience that included local dignitaries and members of the marine industry


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


Ports Recognize MOL for Green Initiatives

At the Los Angeles Vessel Speed Reduction Award ceremony. Third from left isMitsui O.S.K. Bulk Shipping (U.S.A), LLC. General Manager Ryosuke Sugimoto, fourth Mitsui O.S.K. Bulk Shipping (U.S.A), LLC. General Manager General Manager Seiji Kawada, and fifth MOL (America) Inc. District Sales Manager Tim Ashley

Mitsui O.S.K. Lines, Ltd. (MOL) today announced that the company has earned recognition from the ports of Long Beach and Los Angeles, California, for its efforts to ensure compliance with standards that call for vessels to slow down within 40 nautical miles (nm) of the shore. 


MOL Bulker is the First Built with Safer Hull

Bulk carrier of the type featuring the NSafe-Hull

Bulk carrier under MOL’s operation is world's first to adopt highly ductile steel plate to ensure superior collision safety Mitsui O.S.K. Lines, Ltd. (MOL) announced the world’s first use of highly ductile steel plate NSafe-Hull






 
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