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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

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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


Seized Hanjin Shipping Vessel Resumes Operation in South Africa

Hanjin Paradip. Photo: Hanjin Shipping

 Hanjin Paradip resume  its sailing from South Africa as talks continue with owner over unpaid charter fees. The ship had been detained in Richards Bay, South Africa earlier last week over unpaid charter fees.   The vessel in 82,158 deadweight tonnage (DWT) was used to carry grain and minerals.   “We agreed with the ship owner that the normal vessel operation is the most important for interests of the both parties,” Hanjin said


MAN Debuts New SCR for Two-stroke Engines

Rendering of the SCR-HP reactor with a host two-stroke engine (Image: MAN Diesel & Turbo)

MAN Diesel & Turbo and its licensee Mitsui Engineering & Shipbuilding introduced its new high-pressure selective catalytic reduction (SCR) system, MAN SCR-HP, at an event in Tamano, Japan on April 11.   The MAN SCR-HP is available for two-stroke engines of all bore sizes and reduces


ABS Leads Ballast Water Management Workshop

Photo courtesy of ABS

ABS, a provider of classification and technical services to the marine and offshore industries, hosted a Ballast Water Management (BWM) Workshop for ship owners with BWM systems installed onboard their vessels. The full-day session covered a range of issues, including installation


First Spanish-built SOV Launched

Photo: GONDAN

The first service operation vessel (SOV) built in Spain has been launched at shipbuilder GONDAN’s facilities in Figueras.   This 81.1-meter-long and 17-meter-beam vessel is the first of two new SOVs that GONDAN will deliver to Norwegian ship owner Østensjø Rederi


Apply Now for the MN100

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The August 2017 edition of Marine News, the leading voice in the North American workboat market, will feature 100 leaders and innovators, including workboat owners and operators, workboat builders and repairers, and product and service providers.


The Future (of Maritime) Care

© XtravaganT  / Adobe Stock

For more than 15 years Christina Desimone has driven Future Care to be a transcendent maritime medical care enterprise. While the company fully embraces technology and the advent of telemedicine, it ventures far beyond traditional maritime medical solution providers


Norway First to Ratify Hazardous Cargo Treaty

Dilek Ayhan, State Secretary in the Norwegian Ministry of Trade, Industry and Fisheries, hands over the instrument of ratification of the 2010 HNS Protocol to Kitack Lim, Secretary-General, IMO. (Photo: IMO)

Norway has become the first country to become a contracting state to a key compensation treaty covering the transport of hazardous and noxious substances (HNS) by ship.   The International Convention on Liability and Compensation for Damage in Connection with the Carriage of Hazardous and


ABS Wins Great Lakes Towing SubM Contract

Photo: Great Lakes Towing Company

ABS said it has been awarded a Third Party Organization (TPO) contract by The Great Lakes Towing Company (GLT) to support compliance with the United States Coast Guard (USCG) Subchapter M regulations.    “Every organization operating towing vessels in U.S


Apply Now for the MN100

-70430.jpg

The August 2017 edition of Marine News, the leading voice in the North American workboat market, will feature 100 leaders and innovators, including workboat owners and operators, workboat builders and repairers, and product and service providers.


Navios Maritime Acquires One Capesize Vessel

Image: Navios Maritime Partners

 Navios Maritime Partners, an international owner and operator of drybulk and container vessels, announced that it has agreed to acquire one 2010-built Capesize vessel of 178,132 dwt for a purchase price of $27.5 million.   The vessel is expected to be delivered to Navios Partners'


Kartsonas Joins Seanergy Board

(Photo: Seanergy Maritime Holdings Corp.)

Dry bulk vessels owner and operator Seanergy Maritime Holdings Corp. has appointed Ioannis “John” Kartsonas as a member of its board of directors, effective May 4, 2017.  Kartsonas has more than 18 years of experience in finance and commodities trading


AEGIR-Marine Adds Stabilizer Repair Services

AEGIR-Marine, full service provider for stern tube seals and propulsion systems for the maritime industry, said it has added stabilizer and steering gear repair services to its portfolio of maritime services. In February 2017 the company reinforced its team with Alan


Scorpio Bulkers Charters in Ultramax Vessel

Dry bulk vessels owner Scorpio Bulkers Inc. said it has entered into a time charter-in agreement with an unrelated third party on one Ultramax vessel.   The agreement is for two years at approximately $10,125 per day with an option to extend the agreement for one year at approximately $10


White Paper Addresses Bilge Water Noncompliance

Photo: Alfa Laval

A new white paper from Alfa Laval addresses ship owner concerns to ensure vessel compliance with bilge water regulations worldwide. Even if a traditional system with type approval is operating on board, the paper states, there are still risks of violating applicable laws and damaging the marine


Demolition Activity Weakens as BDI Moves Higher

Graph: BIMCO

 After the Baltic Dry Index (BDI) had its seasonal weakness around the Chinese New Year in early February, stronger-than-expected demand came from across the board and lifted freight rates, says BIMCO market analysis of Dry Cargo. 


UK P&I Club Advises On Hatch Cover Maintenance

Photo: (c) Lidian Neeleman / Adobe Stock

The UK P&I Club’s Loss Prevention Department, in conjunction with the IMCS Training Academy, advises on the importance of hatch cover maintenance: “Whether a ship’s hatch covers are weathertight is a seemingly simple question that should have a “Yes” or






 
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