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Friday, January 19, 2018

Ocean Club News

Aker Yards Signs Residence Ship Contract

Kvaerner Masa-Yards Inc. (KMY), signed a conditional contract with FS Ocean Club Ltd., managed by Ocean Development Group, to design, construct and deliver an approximately 42,500 Gross Ton luxury residential ship to be branded, managed and operated by Four Seasons Hotels and Resorts. The ship, to be named the M/S Four Seasons, will be approximately 200 meters in length and will feature approximately 100 spacious residences varying from 125 square meters to 320 square meters. "KMY is excited to have the opportunity to work with both Four Seasons and Ocean Development Group on this new project," said Mr. Yrjö Julin, President and CEO, KMY.

Shipowners' Club on Mayflower Autonomous Ship

Photo: Crowdfunder Ltd

The Shipowners' Club has revelead details about Mayflower Autonomous Ship project (MAS), which is an innovative new venture to design, build and sail the world’s first fully autonomous vessel across the Atlantic Ocean. The project’s name commemorates the anniversary of the Pilgrim Father’s voyage from Plymouth, UK to Plymouth in the New World (USA) on the original Mayflower in 1620. To mark the anniversary, marine tech company MSubs, Plymouth University and charitable research foundation Promare, are developing a 21-metre autonomous vessel based on a classic Oyster hull.

Workboat with Luxury Fittings Delivered by UK Shipyard

Windfarm Support Ship 'Iceni Pride': Photo courtesy of South Boats

South Boats Special Projects Ltd. announces the commissioning of its 54th offshore wind farm crew transfer vessel, ‘Iceni Pride’. The vessel is a South Catamaran 13m Rapid Response Vessel (RRV) built to fulfil a 5 year contract Iceni Marine Services has in place with Scottish & Southern Energy on their Greater Gabbard Offshore Wind Farm project. This vessel is the fourth built for Iceni with a further three in build and on order. Iceni Pride is outfitted to a very high standard with an abundance of teak and leather to take into account that one of the roles is VIP transportation.

DNV GL Launches Project to Test Biodegradable Lubricants

Photo: DNV GL

Classification society DNV GL has launched a new joint development project (JDP) in cooperation with marine insurers The Swedish Club, Norwegian Hull Club, Gard and Skuld to test the potential influence of Environmentally Acceptable Lubricants (EALs) on failures in stern tube bearings. DNV GL will oversee detailed laboratory testing of EALs by Leonardo Testing Services Ltd. at the University of Sheffield (UoS), UK. The JDP has been prompted by an increase in stern tube bearing failures over the last few years.

G2 Ocean Names Wallem

Image: Wallem Group Limited

Wallem Ship Agency has been appointed by G2 Ocean to provide Ship Agency services to all their vessels calling in ports in SE Asia. The agreement has been made with Wallem Ship Agency in Singapore, Malaysia, Thailand, Philippines, Vietnam, and Myanmar. This news comes after Wallem was appointed by G2 Ocean back in July of 2017 for calls to China, totaling an estimated number of 700 calls per year. Managing Director of Wallem Ship Agency Dickson Chin says, “We are delighted to extend our relationship with G2 Ocean to handle their vessels calling throughout Southeast Asia.

Hellenic War Risks Club Reduces Member Premiums

Members of the Hellenic War Risks Club will be paying 50% less annual premium for their war risks insurance following a decision by Club Directors to waive the second instalment of the 2013 annual premium. The Directors’ decision, advised to Members by circular on 31 May, has the effect of reducing 2013 annual rates by just over 50%. Annual premium is payable pro-rata daily, and the second instalment covers the period from July 1 - December 31, 2013. The rate reduction reflects the Hellenic’s strong financial position. The Club’s Review of 2012 announces a surplus of $13.2 million for the year including investment income, with reserves increasing to $98.4 million.

Road Map to Boost Singapore Maritime Industry

Dr Lam Pin Min, SMS, Ministry of Transport and Ministry of Health, at the PSA ‘Intelligent Port of the Future’ Exhibition showcasing the transformation of port operations through technology and innovation. Photo:  Maritime and Port Authority of Singapore

Dr Lam Pin Min, Senior Minister of State (SMS) for Ministry of Transport and Ministry of Health, launched the Sea Transport Industry Transformation Map (ITM) at the annual Singapore Maritime Foundation New Year Cocktail Reception. Developed by the Maritime and Port Authority of Singapore (MPA) in partnership with the industry, unions and other government agencies, the Sea Transport ITM builds on MPA’s strategic long term plans to develop Singapore’s next-generation port and strengthen our international maritime centre (IMC).

Nor-Shipping: Opening Oceans in Denmark

Photo: Nor-Shipping

Global maritime event week Nor-Shipping is making its first move outside Norway, with a new initiative to help maritime and ocean industry players realize the almost limitless business potential of the ocean space. Nor-Shipping’s Opening Oceans Conference, taking place in Copenhagen from May 2-3, 2018, will bring businesses together to illustrate and discuss key opportunities, equip delegates with the tools to tackle them, and facilitate fresh collaborations. Timed to coincide with Danish Maritime Days…

Hellenic War Risks Club at 50; Reports $68.6m in Reserves

Piracy remains a major issue, especially for Greek owners, says the Club. The Hellenic War Risks Club is celebrating its 50th year of operation in 2011. The Association’s founding Directors, which included J C Carras,  J E G Kulukundis, C M Lemos, D J Chandris and F P Lykiardopulo, recognised a need for Greek shipowners to come together on a mutual basis to provide the most competitive war risk insurance premiums, which, at the time, were difficult and expensive to obtain. The…

China Oil Spill Compensation Claims Face Iran Payment Snags

(Photo: China's Ministry of Transport)

The reluctance of foreign banks to deal with Iran could complicate any compensation payments resulting from the collision last week of an Iranian oil tanker and a Chinese cargo ship, sources say. The tanker Sanchi, carrying 136,000 tonnes of highly flammable condensate oil, collided with the Chinese dry cargo vessel CF Crystal on Saturday in the East China Sea, causing an oil spill and a blaze that is still raging four days later. Liability has yet to be established but lawyers…

Obituary: Stewart B. Nelson

Stewart B. Nelson, Ph.D. - B. June 9, 1937 D. Dr. Stewart B. Nelson URI -MMA 1974, oceanographer, explorer, author, lecturer and marine historian passed away of complications related to cancer on September 12, 2016 in Tampa, Fla. He is mourned by family, friends and classmates of the Marine Affairs Program at the University of Rhode Island. Dr. Nelson's multifaceted career was principally spent in service to his country in his position as aide to the Office of the Oceanographer of the Navy and in this capacity he was the Senior Advisor to the to the Oceanographer, a Rear Admiral Flag position. Dr. Nelson who later earned a Ph.D, from the University of Southern California, was a pivotal figure in the modern era of the Naval Oceanographic Office.

Korean Register CEO Park Passed Away

Dr. B. S. Park ( Photo: Korean Register)

Dr. B. S. Park, Korean Register Chairman and CEO, has passed away after a short illness.   Dr. Park graduated from Korea Maritime and Ocean University in 1976 and joined Pan Ocean Shipping where he worked in a number of capacities until 2001. In that year he was appointed CEO of Welson Korea Insurance Brokers before becoming COO of Korea P&I Club in 2006. He appointed as Chairman and CEO of KR in December 2014.   Dr. Park was 63 and leaves a wife and two children.

Troy Container Line Adds New Sales Representative

Troy Container Line Ltd., an American-owned NVOCC, announced the appointment of Paul Keany as sales representative. Based in the company’s Red Bank, N.J. office, Keany has been charged with expanding Troy Container Line’s long-standing tradition of personalized service and care in New Jersey, Philadelphia and the Baltimore region. In this position, he will work closely with the company’s current clients while also establishing new relationships in the Northeast and beyond. With a 30-year background in sales for both ocean carriers and NVOCCs, Keany brings extensive experience as well as long-standing industry relationships to the Troy Container Line team.

Eagle Ocean Marine Grows Market Share

Joe Hughes, Chairman and CEO of Eagle Ocean Agencies, Inc. (Photo: EOM)

Eagle Ocean Marine (EOM), the specialist fixed premium P&I and FD&D (Freight, Demurrage and Defense) facility underwritten by the American Club, has reported a solid fourth year of operations, and a strong start to its fifth year of activity, following the successful renewal of its quota-share and excess of loss reinsurances with Lloyd’s underwriters as of July 1, 2015. Over the past year, tonnage insured by Eagle Ocean Marine grew by nearly 20 percent over the figure for the previous twelve months, on a premium income of over $6 million.

East-West Shippers see Acceleration in Container Contract Rate Cuts - Drewry

Photo AFP

Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates. The Drewry Benchmarking Club Contract Rate Index, based on average Transpacific and Asia-Europe contract freight rate data provided confidentially by shippers, has now declined by 29% in the year to May…

East-West Shippers See Acceleration in Container Contract Rate Cuts

Image: Drewry

Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates. The Drewry Benchmarking Club Contract Rate Index, based on average Transpacific and Asia-Europe contract freight rate data provided confidentially by shippers, has now declined by 29% in the year to May…

East-West Shippers' Contract Rates Falling -Drewry

Ocean freight rates for cargo moving under contracts on the major East-West routes have seen a sharp reduction since the beginning of the year, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates. The Drewry Benchmarking Club contract rate index, based on Trans Pacific and Asia-Europe contract freight rate data provided confidentially by shippers, declined by 7% between May and August this year, the steepest fall since the Benchmarking Club was established in March 2014. The fall in contract rates has been driven by a combination of lower fuel costs, excess vessel capacity and intensive competition between shipping lines.

Malaysia to Pay up to $70 Mln if MH370 is Found

(Photo: Ocean Infinity)

Malaysia signed a deal on Wednesday to pay a U.S. seabed exploration firm up to $70 million if it finds the missing Malaysia Airlines aircraft MH370 within 90 days of embarking on a new search in the Southern Indian ocean. The disappearance of the aircraft en route from Kuala Lumpur to Beijing in March 2014 with 239 people aboard ranks among the world’s greatest aviation mysteries. Australia, China and Malaysia ended a fruitless A$200-million ($157 million) search of a 120,000 sq.

East-West Shippers See First Increase in Contract Rates

Graph: Drewry Shipping Consultants Limited

Ocean freight rates for cargo moving under contracts on the major East-West trade routes saw a reversal of trend in 4Q 2016, according to Drewry’s Benchmarking Club, a closed user group of 50 multinational retailers and manufacturers who closely monitor their contract freight rates. The Drewry Benchmarking Club Contract Rate Index, based on average Transpacific and Asia-Europe contract freight rate data provided confidentially by shippers, increased by 3% in the latest quarter, after having fallen for more than 6 consecutive quarters.

Canada Unveils New Arctic Shipping Safety Regulations

Photo: Transport Canada

Canada's Arctic is a vast and diverse region that is an integral part of this country. Marine transportation in the Arctic connects Canada to other countries and provides an essential lifeline for northern communities. To uphold the Government of Canada's high standards for marine shipping in the north, Transport Canada has introduced new Arctic Shipping Safety and Pollution Prevention Regulations. The regulations incorporate the International Code for Ships Operating in Polar Waters (the Polar Code) into Canada's domestic legislation.

The American Club Reports Solid Progress in 2015

Arnold Witte (Photo: Donjon Marine)

The American Club reported solid progress during 2015 at the annual meeting of its members held in New York yesterday. Despite a challenging economic climate, the Club’s business developed respectably, and 2016 had started on a positive note. The Club’s tonnage and revenue experienced some attenuation in 2015 as global trade slowed and freight markets continued to struggle. Following the 2016 renewal, year-on-year tonnage entered for P&I and FD&D risks was stable at about 14 million GT for the former and 9 million GT for the latter class of business…

Thomas Miller P&I's Readman Retires

On July 22, Luke Readman, Chairman of Thomas Miller P&I Ltd, will retire after nearly forty years of service to the Members of the UK P&I Club. He hands over leadership to current chief executive Hugo Wynn-Williams, who will be supported by deputy chairman Nigel Carden. Readman became renowned in the P&I industry as an oil pollution specialist after handling major claims for the UK Club such as the 230,000dwt VLCC Haven, which caught fire and sank off Genoa in 1991. The case was finally resolved by a tri-partite settlement agreement between the Italian State, the IOPC Fund and the Owners/Club.

UK Commission Formal Probe into Marine Insurance

The European Commission has opened formal proceedings to investigate whether certain provisions accompanying claim-sharing and joint-reinsurance agreements in the marine insurance sector might infringe European Union antitrust rules. The Commission fears that the provisions at stake in the agreements between the Protection & Indemnity Clubs (P&I Clubs) within the International Group of P&I Clubs (IG) may harm ship owners and the insurers that are not members of the IG. P&I Clubs are mutual non-profit making associations that provide Protection & Indemnity insurance - a type of direct marine insurance - to their members, the ship owners. The International Group of P&I Clubs (IG) is a worldwide association of thirteen P&I Clubs.

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

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