SMI Newsdesk Archives

US slowdown hits Panama Canal transits

 The decline in the US economy has taken its toll on Panama Canal transits in the second quarter of the year but movements of passenger and dry bulk vessels increased significantly, according to the Panama Canal Authority (ACP). These metrics are based on operations from January to March 2008, the second quarter of the ACP’s 2008 fiscal year, and are compared with Q2 of FY 2007.

Total Canal Read More…

Biggi steps down from UK P&I board

UK P&I Club chairman Tullio Biggi is to retire from the Club’s board at its AGM in October.

It follows his decision to retire from V.Ships, the company he has represented on the board since first being elected a director of the Club in 1998.

He served as a Deputy Chairman from 2001 and was elected by his fellow directors as Chairman in October 2005.

The Board has Read More…

Pool claims’ heavy impact on UK Club results

Continued high claims levels and a turbulent investment environment shaped the outcome of the UK P&I Club’s financial results for the policy year 2007 with an increase in the claims retained by the Club and a slight reduction in those covered by the International Group Pool. However, the latter again had a huge impact on the Club’s results.

According to the Club, total funds were $992 million with net claims Read More…

Videotel launches ECDIS course

Videotel Marine International, a leading supplier of training software solutions to the maritime industry, has responded to the growing importance of Electronic Charts Display Information Systems (ECDIS) by launching a brand new course designed to explain current international law and clarify the differences between various the types of electronic charts.

According to Captain Milind Karkhanis, Videotel Vice President, the course includes exercises that simulate some of the key functions of using Read More…

HMS Bounty transits the Panama Canal

H.M.S Bounty pictured transiting the Panama Canal through the Pedro Miguel and Miraflores Locks as part of a world wind promotional tour celebrating the ship’s historic significance. Crossing Canal waters for the first time since the 1990s, the Bounty left St. Petersburg, FL on April 6th, and is scheduled to visit the US West Coast cities of San Francisco, San Diego and Los Angeles, among others, before arriving Read More…

Bernhard Schulte Shipmanagement slams ‘Lady Chiara’ claims

Bernhard Schulte Shipmanagement has condemned claims by the International Transport Workers Federation that the 12 Filipino seafarers onboard the Liberian registered 27,350 dwt chemical oil tanker Lady Chiara had no fresh food and only contaminated water to drink and has commissioned an independent surveyor to inspect the vessel to back up its defence.

It has also lodged a complaint with the ITF over the matter and involved IMEC, Read More…

Braemar warns of orderbook cancellations

Up to 10% or 15% of the world ship orderbook is at risk of not being built because contracts will fail to achieve refund guarantees, according to one of the industry’s largest shipbroking groups.

The situation is worst in China, where it is harder and takes longer for smaller yards to obtain refund guarantees from their banks and will mean handysize bulkers bear the brunt of cancellations.

Speaking Read More…

Berlusconi ally named for top EU transport job

A lawmaker close to Silvio Berlusconi has been nominated as Italy’s man in the European Commission following the departure of Franco Frattini to join Berlusconi’s new government, the Commission said.

Antonio Tajani, the head of Berlusconi’s Forza Italia party in the European Parliament, was designated EU Transport Commissioner and not assigned the justice and migration post Frattini held before becoming Italy’s foreign minister this week.

Some members of Read More…

EU probing shipping equipment cartel

The European Commission has confirmed it has written to a number of companies to outline its suspicions that they have been participating in a cartel suspected of controlling the market for marine hoses.

The Commission did not name any of the companies involved as it does not comment on ongoing investigations. It said in a statement: “The European Commission can confirm that a statement of objections has been sent Read More…

Mavroleon looks to the ‘younger generation’

Top US broker and CMA stalwart Basil Mavroleon has stepped down as Managing Director of Charles R. Weber claiming it was time to hand over to someone younger.

The company announced on Monday that it had chosen James L Ford as his replacement although Basil will continue as Managing Director of WeberSeas (Hellas) S.A. and will remain a senior member of Charles R. Weber’s Project Department.

In a Read More…

Paragon seeks longer three year charter deals

Nasdaq-listed bulker owner Paragon Shipping has started charter negotiations on six of its 11-strong bulker fleet and is looking to place them on longer term three year charters instead of the traditional one year deals to take advantage of the higher market levels.

However, with around $130 million of undrawn revolving credit and a lot of cash left in the company, Michael Bodouroglou, CEO, is not ruling out Read More…

Ireland announces plans to create new shipping register

Ireland has launched a public consultation process to pave the way for the creation of a new ship register that will enforce legislation on safety and living conditions aboard and help improve maritime safety.

Noel Dempsey, Irish Minister for Transport and Marine, has called on vessel owners and the public to become involved in the process.

According to Ireland’s broadcasting company RTE, new arrangements are being considered by Read More…