Marine Link
Thursday, January 18, 2018

Greek Owners News

BIMCO: Greek Shipowners Prefer Bulkers

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. Chief Shipping Analyst at BIMCO…

Chinese, Greek Ship Owners Accounted for 40% of Global Recycling

Graph: Clarkson Research

According to Clarkson Research Services, the record pace of fleet growth over the last decade and weakening global demand outlook has left many of the major shipping segments facing severe oversupply. Demolition of older ships is one way of easing overcapacity and recycling volumes have been strong in recent years. The top ten owner countries typically account for the majority of recycling with Chinese and Greek owners leading the way. Last year a total of 860 ships of a combined 23m GT were reported sold for demolition. This is equivalent to 2% of the start year fleet.

News Flash! Greek Shipowners Prefer Bulkers

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…

European Owners Lead in Buying Up Secondhand Tonnage

Graph: Clarkson Research Services

With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited. While Europe has been the main buyer region, the picture between owner countries in each region remains mixed. Greek owners have been the key European buyers, while Chinese and Japanese owners have taken very different approaches to S&P activity. The sale and purchase market has seen firm activity since the start of 2014, with 3,313 vessels of a combined 117.7m GT reported sold during this time.

MV Motivator Released from Pirate Control

Photo courtesy EU NAVFOR

In the early morning of 16 January, the Product Tanker MV Motivator was released from pirate control. The Marshall Islands flagged vessel, which was pirated on in the Southern Red Sea on 4 July and has a crew of 18 Filipino nationals, was released approximately 160 nautical miles South- West of the island of Socotra near to the coast of Somalia.  An EUNAVFOR ship assisted the crew immediately after their release. According to the ship’s Greek owners, the crew are reported to be as well as could be expected given the circumstances.

Erma First BWTS Installed for Evalend Shipping

Erma First ESK Engineering Solutions S.A. has concluded the installation of its Ballast Water Management System "Erma First" in two container ships being built at Zhejiang Ouhua Shipbuilding for Greek owner Evalend Shipping Co. S.A. The agreement for the installations was signed in 2012 with Erma First who was awarded the contract against seven competitors. Erma First  was selected by both the shipyard and the owner on the basis of the system’s cost effectiveness, while a key factor was also the double filter system it carries.

ABS Strengthens Greek Presence with Key Appointments

ABS has further strengthened its commanding presence in Greece with the announcement of two senior managerial appointments. Dimitri Kostaras has been named to the newly created position of Director of Technology & Business Development for Eastern Europe. He will be located in the ABS office in Piraeus and report to ABS Europe Regional Vice President Dimitri Houliarakis. The 10 year ABS staff member is well known to the Greek and international shipping community from his previous activities as Manager Engineering for the ABS Europe Eastern Region and from previous appointments in Busan, Korea, working on newbuilding contracts. “ABS has maintained a very close relationship with the expanding Greek shipowning community for more than 50 years,” says Houliarakis.

Impact of Financial Crisis on Greek Shipping

 Image: Reinventing Greece Media Project

Though international analysts like Morgan Stanley said that the Greek crisis will not have a direct impact on shipping companies, Greek shipping companies listed on U.S. stock exchanges sank on Monday. Greeks have said No to austerity terms imposed by international creditors, which could have led to the releasing a package of fresh financial aid which could help in the long battle to keep Greece afloat. The vast majority of ship-owners and other members of the maritime community…

Private Equity Boosts Liberia Shipping Market

Scott Bergeron

The Liberian Registry says the entry of private equity funding into the ship finance market is helping to sustain its continued growth. Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR), the U.S.-based manager of the Liberian registry, said, “Owners are ordering ships again, and there is a great deal of private equity funding entering the market, in the U.S. and elsewhere, which is filling the shortfall created by a reduction in traditional bank finance for shipping.

Liberian Registry No 1 Choice for Greek Shipping

Image: Liberian Registry

Liberia has confirmed its position as the leading flag of choice for Greek ship owners and operators, according to statistics produced by the independent research and information organisation Marine Information Services (MIS) in Greece. The MIS figures show that the Greek merchant fleet now includes 1,037 Liberian-flag ships. Liberia also leads the way in terms of total deadweight tonnage registered under its flag by Greek owners, aggregating 78m dwt. Michalis Pantazopoulos, Senior Vice-President of the Liberian International Ship & Corporate Registry in Greece…

Liberia is the Flag of Choice for Greek Operators

Scott Bergeron

Liberia has become the flag of choice for Greek ship owners and operators, securing the leading position for the first time in more than forty years since the early seventies. Figures produced by the Greek publication Shipping & Finance, which bases its findings on data from the Marine Information Services database for Greek and Cypriot shipping companies, confirm that the Greek merchant fleet now includes 800 Liberian-flag ships, ten more than registered under the Greek flag, and 300 more than are registered under the flag of Panama.

Top 10 Ship Owning Nations

© Masson / Adobe Stock

Kicking off the New Year, VesselsValue has put together a list of the top 10 ship owning nations by fleet value in 2017. Despite suffering the biggest total drop in total feet value, Greek owners held onto their spot at the top with a $84.079 billion fleet, reflecting a decrease of nearly 12 percent in the cargo sectors. Greece also held onto its lead in the bulk carrier and tanker categories. “Greek tanker owners started 2016 earning more than $100,000/day on their vessels. However, the rest of the year has been predominantly bearish.

Marshall Islands Registry is "Number Two"

The Republic of the Marshall Islands (RMI) fleet now stands at 223,262,177 deadweight tons (DWT), making it the second largest registry in the world in terms of DWT. International Registries, Inc. and its affiliates (IRI) have provided administrative and technical support to the RMI Registry since 1990. "This is a very significant milestone for the RMI Registry," said Bill Gallagher, President, IRI. "A strong legislative framework, customer driven service ethos, and a commitment to quality have all been key to our continued success," he continued. The RMI is not only the world's second largest registry, but the Greek shipping industry's leading flag as well.

Solar Solve Wins Orders from Two Japanese Shipbuilders

Photo: Solar Solve

At the beginning of June South Shields based Solar Solve Marine dispatched a consignment of 16 SOLASAFE anti-glare roller sunshades to their distributor based in Osaka for installation at the wheelhouse windows of two new bulk carriers being built in Japan. Oshima Shipbuilding Co. are finishing off a Handymax Bulker, Hull No. 10705, at their Nagasaki yard for delivery next month. Currently both the name of the 55,116 dwt vessel and the owner have not been made public but the vessel will be delivered with 13 roller sunscreens from the SOLASOLV range installed at the navigation bridge windows.

Bulk Carrier Secondhand Sales Booming

The festive season is here, so shoppers are out and looking to buy. However, when it comes to the bulk carrier sale and purchase market, business has been booming throughout 2016, says Clarkson Research Services. The depressed earnings environment and limited availability of finance have seen increased ‘distressed’ sales, while some investors have been hoping to pick up a bargain. Let us take a look at this ship shopping spree. A total of 567 bulkers of a combined 40m dwt were sold secondhand in January to November 2016, equivalent to 5% of bulker fleet capacity at the start of 2016. In terms of tonnage, sales were up 15% on full year 2015 and slightly above the previous annual record in 2007.

Greek Controlled Fleet at Record DWT Levels

Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR)

Liberia the main beneficiary as Greek controlled fleet hits record deadweight levels. The Greek Shipping Co-operation Committee (GSCC) has confirmed that Liberia is the leading independent ship register of choice for Greek-controlled shipping companies, second only to the Greek flag itself. Figures just released by the GSCC show that, in the year ended 31 March, 2012, Liberia experienced a net increase of 38 Greek-controlled ships aggregating 4.63m dwt – comfortably more than twice the number of vessels secured by any other ship registry.

KfW uses Eurofin to target Greek owners

Eurofin to act as its consultant. clients and identifying ship financing opportunities for the bank. Dr. clients. stronger than it has ever been. good banks such as KfW IPEX-Bank have to be selective. finance, and short-term trade finance. scale. refinancing at market rates at all times.

Wilhelmsen Wins Inert Gas Generator Order in LNG Sector

Wilhelmsen Technical Solutions received an order to supply inert gas generator systems for five LNG carriers under construction in South Korea. Wilhelmsen Technical Solutions’ South Korean office will fulfil the orders for five LNG newbuildings at Hyundai Heavy Industry (HHI) for Greek owner Dynagas, delivering Nitrogen (N2) generator systems of 2 x 150 nominal cu. m. per hour @ 97%. These orders further improve Wilhelmsen Technical Solutions’ market penetration for LNG carriers and reinforce the competence and experience of the company in this fast-growing shipping segment. In total, the company has around 600 customer references for its inert gas systems worldwide.

ExxonMobil Marine Fuels launches website

ExxonMobil Marine Fuels (EMMF), the world's largest supplier of marine fuels, has launched its online presence at www.exxonmobilmarinefuels.com. The website offers a broad range of services, including online bunker enquiries and technical advice facilities. The site also provides a comprehensive overview of the specifications of the fuel sold by EMMF. EMMF's website also incorporates a supply directory that allows buyers to check fuel grades supplied at ports worldwide. "The site is intended to enhance our service to our customers, making it easier for them to obtain the information they need at their convenience. We plan many more features that will further increase the service levels provided by EMMF," Healey says.

Korean Shipyard Names Five New Containerships

Container ships, sunrise: Photo courtesy of HHI

Hyundai Heavy Industries (HHI), which claims to be the world’s biggest shipbuilder says that it set a new daily naming ceremony record by naming 5 containerships (ordered from Enesel) on a single day. In a simultaneous naming ceremony attended by Mr. Andonis Lemos; Mr Filippos Lemos; Mr. Kim Oi-hyun, President & CEO of Hyundai Heavy Industries; and other 130 participants at HHI’s yard in Ulsan, South Korea, the sponsors including Mrs. Irini N. Lemos, mother of the Lemos brothers and four other ladies, named three 10,500TEU containerships and two 13,800TEU containerships for the Greek owner.

Crisis Not Affected Greek Shipping: Morgan Stanley

Photo by Hellenic Association of Marine Supplies

Most the major Greek-controlled and listed carriers are registered in Greece, and they all have their liquidity placed in banks abroad. Morgan Stanley analyst Fotis Giannakoulis noted that "nearly 20 percent of the global fleet is controlled by Greek owners and is managed out of Athens," giving Greece the largest share of any country. He assured investors that the Greek crisis "has no direct impact on shipping companies." The only headwinds to Athens-based maritime firms, he said, would come from side effects on the global economy.

Gibdock Repairs Large Tsakos Containership

Gibraltar view: Photo Gibdock

Gibdock says it has completed its first shiprepair project for Tsakos Shipping & Trading, one of the leading owners within the Greek shipping market, on its 39,241 dwt, 2006-built 'Irene’s Rainbow'. The scope of work undertaken alongside included steel hatch cover repairs, which consisted of the renewal of damaged top plate. In addition the yard carried out non-destructive testing, as required by Class, including Hatch Internal Stiffening and preservation works after the repairs.

239 End-of-life Ships Sold for Breaking in 1Q

Horizon Trader towed out of Brownsville port - Copyright BAN 2015

According to the NGO Shipbreaking Platform 239 end-of-life ships were sold for breaking in the first quarter of 2016. Seventy-nine per cent of end-of-life ships ended up on South Asian beaches, making this quarter one of the worst ones in the last years for non-beaching yards around the world. Out of 189 vessels that reached the shores of India, Pakistan and Bangladesh, 127 were bulk carriers. As opposed to 2015 trends, India has again become the favorite final destination. 68 ships sold to South Asia in the first quarter of 2016 were owned by EU owners.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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