SMI Newsdesk Archives

SMITV talks to Dirk Fry about Schoeller’s joint venture with Tsakos

SMITV talks to Guy Morel and Kuba Szymanski about what being an InterManager Secretary General means

ITIC warns professional service providers of rising claims exposure

The International Transport Intermediaries Club (ITIC) says it has seen an increase in the number of professional indemnity claims made against the professional service providers who are its members. And it warns that the increase is likely to continue as a result of the trend towards privatisation in what have traditionally been public sector-dominated disciplines such as hydrography.

In the latest issue of its newsletter, The Wire, ITIC notes that Read More…

Two dead as freak waves hit Louis Majesty

Two passengers, a German and an Italian, have been killed and six others injured after the 1992-built cruise vessel Louis Majesty was hit by freak waves reported to be up to 8m high while en route from Barcelona to Genoa with 1,350 passengers.

It is understood the passengers were killed by flying glass when the impact of the waves shattered windows in the forward public area on deck 5. A Read More…

MSC signals Favolosa intent

Gianluigi Aponte’s MSC Cruises has signed a letter of intent with STX Europe for a 140,000 tons gross cruiseship, MSC Favolosa. The price has not been disclosed.

The Fantasia class vessel will be delivered from St Nazaire in June 2012 and the order is the ninth awarded by MSC to STX, the former Aker Yards. The vessel will be 333.3m long with a beam of 38m, with 1,751 cabins and Read More…

GL restructures its Swedish presence

German classification society Germanischer Lloyd is restructuring its organisation in Sweden due to the increasing number of maritime clients in western and southern parts of the country. Part of the move will be to site, from the beginning of this month, its country office in the port city of Gothenburg.

GL will maintain a strong presence in Stockholm, Gothenburg and Karlstad in Sweden as well as Turku and Helsinki in Read More…

Frontline ‘s Singapore switch

John Fredriksen’s Frontline is switching a number of vessels from third-party ship managers V.Ships and Thome to its newly established venture Sea Team Management in Singapore.

The move comes after the group unveiled lower-than-expected fourth quarter profits. Revenue of $262m was down by 42% on the $451.5m logged in the last three months of 2008.

It is unclear how many of the company’s 60-plus vessels will be involved in Read More…

Isle of Man to introduce annual fee in April

The Isle of Man Ship Registry is to introduce an annual registration fee in April of £700 per vessel irrespective of ship size or type. The levy, the first in its 25-year history, will include offering “substantial discounts” to multi-vessel owners registering with the flag while other fees for services and certification will be reduced.

According to the registry, the new fee structure will also provide discounts for owners and Read More…

Tsakos and Columbia link in joint management venture

Athens-headquartered Tsakos Shipping & Trading is joining forces with Cyprus-based Columbia Shipmanagement, part of Schoeller Holdings, in a joint venture that will take over management of the Greek group’s fleet of around 85 vessels.

The new entity, to be named Tsakos Columbia Shipmanagement (TCM), will start operations towards the end of the second quarter of this year, managing the 50-strong tanker fleet owned by Tsakos Energy Navigation, the group’s US-listed, Read More…

RINA classes world’s first offshore LNG FSRU

Genoa-based classification society RINA is to class the world’s first offshore Floating Storage and Regasification Unit (FSRU), taking a lead in the developing market for floating LNG terminals.

Addressing the Mare Forum Houston conference, Massimo Volta, RINA’s General Manager America, said: “Italy leads the world in implementing offshore LNG terminals. We have recently brought the Adriatic LNG terminal on stream, and we have five more live projects for floating Read More…

Moore Stephens sees opportunities for cash-rich buyers

For financially-sound buyers, 2010 will prove a likely year of opportunity according to shipping accountant and adviser Moore Stephens, as fallen asset prices leaves cheap purchasing potential wide open for hungry acquisitions.

“2010 will be a tough year for shipping, and toughest of all for the yards. But it will be a year of opportunity for anyone with cash and access to finance, as they pick up cheap assets from Read More…

Ship Equip launches new training programme

Norway-based Ship Equip has launched a new in-house training programme known as the Ship Equip Academy, created in order to serve both employees and customers as part of an effort to maintain and increase the level of industry knowledge as well as distributing the skills and expertise generated in the company.

According to CEO Ivar Nesset, the programme will be a strategic tool in the effort to reach long Read More…