Hellespont Names First of Four Double-Hull Ulccs
Piraeus-based Hellespont Shipping Corporation will name the first of its series of four unique double-hull ulccs at a ceremony in Dubai on April 3, 2002. The 442,000 dwt vessel will be named Hellespont Alhambra. Basil Papachristidis, chairman of the Hellespont Group, says, "We are proud to set new standards with these ships. The Hellespont Alhambra is the largest double hull tanker ever built. She sets new benchmarks for safety, longevity, commercial flexibility and ease of maintenance. The series will continue with the Hellespont Metropolis, to be delivered in April, and two sister ships, the Hellespont Fairfax and the Hellespont Tara, both to be delivered in the second half of 2002.
Cornering the ULCC Niche
For an independent tanker owner to undertake a newbuild fleet development program amounting to 3-million tons of crude oil carrier capacity in itself demonstrates a high degree of business verve. But to emphatically put one's own stamp on the design, construction and equipping of such tonnage is an added expression of will, given the production-driven tendency in the industry towards shipyard-orientated and class-minimum specifications. Piraeus-based Hellespont Shipping Corp.'s commitment to a new generation of ultra large crude carriers (ULCCs) is exceptional on its own account, given the paucity of new investment in the category over the past quarter-century.
Pentecost resigns from Seatramp
Basil Papachristidis, Chairman of Seatramp (UK) Ltd. has announced the resignation of senior chartering specialist Gordon Pentecost, who joined Seatramp in 1995 after a 33-year career at Texaco. Pentecost was instrumental in developing the company's business in the North Sea, and he also participated in the chartering of the ULCC fleet represented by Seatramp and contributed to business in the Atlantic Ocean. Pentecost's resignation is effective Sept. 3. "Gordon's professionalism, experience, tenacity and commercial acumen will be very much missed, as will his enthusiasm and upbeat, can-do attitude, said Papachristidis. "My colleagues and I wish Gordon every success in his future professional pursuits and every happiness in his recently-found role of grandfather."
Profitability Of Bulk Shipping Dependent On Safety
Bulk shipping has been under the international microscope of late, with spectacular structural failures resulting in sudden loss of lives and ships, vexing designers, builders and owners alike as to the solution to structural and operational problems. Last week industry experts discussed another matter near and dear to bulk shipper's hearts, the future profitability of the depressed bulk shipping business. The overriding message: bulk shipping profitability is inextricably linked to safety and environmental controls. Removing poor quality operators through strict enforcement of international regulations could reduce the capacity oversupply that has caused low freight rates in the tanker and bulk shipping sectors, they said at a London Conference organized by the City University.
