SMI Newsdesk Archives

Molaris resigns as Excel Maritime CEO

Stamatis Molaris  has resigned as CEO of dry bulk owner Excel Maritime Carriers with immediate effect and has also resigned from his positions as President and Director of the Company’s Board of Directors.

In a company statement, Chairman of the Board Gabriel Panayotides along with the remaining members of the Board of Directors thanked Mr Molaris for his ‘valuable service and assistance towards the successful integration of Excel Read More…

TOP takes delivery of the Lichtenstein for long-term employment

Evangelos Pistiolis operated TOP Ships Inc has announced that it has taken delivery of the Lichtenstein from SPP Plant & Shipbuilding in Korea and will start a long term period charter.

The Lichtenstein is the second of six 50,000dwt product/chemical tankers to be delivered within the first and second quarter of 2009. It has entered into a bareboat time-charter employment for a period of 10 years at a Read More…

Freeseas successfully recharters four of its fleet

Nasdaq-quoted bulker owner FreeSeas Inc has successfully rechartered four of its vessels at what it claims are gradually improving freight rates.

The Free Destiny, a 1982-built, 25,240 dwt handysize vessel, has been delivered to its new charterers on a period charter of a minimum of two months and maximum four months at a charter rate of $4,000 per day while the Free Hero, a 1995-built, 24,318 dwt handysize Read More…

Thome boosts lay-up services to meet changing market needs

Singapore-based manager home Group has expanded its vessel lay-up services in response to the changing trading climate for many ship owners.

S&P Marine Consultants, a wholly owned unit of award-winning Thome Group, has secured several safe and secure lay up locations in and around south east Asian waters which can be used by owners for both short and long term lay-up. Raul Matovic, S&P Marine Consultants General Manager, Read More…

Increased environmental legislations expose industry to financial risks

Greater regulatory control over emissions may expose the shipping industry to significant financial liabilities, a report by Eurosif (European Sustainable Investment Forum) and environmental data company Trucost, has warned.

Examining six critical environmental, social, and governance (ESG) challenges facing the shipping industry, the report revealed that companies delaying or cancelling investments and initiatives in cleaner, more efficient vessels during the economic downturn could risk increased exposure to strict Read More…

IBIA appoints Chief Executive under new board structure

Ian Adams has been assigned as the first ever Chief Executive Officer of The International Bunker Industry Association (IBIA) under its new transformation from a 25-member Council of Management to a Board of Directors.

Formerly Secretary General of the IBIA which has been governed by Council of Management since its formation in 1993, Ian Adams will be heading up the Association after the decision to restructure reached unanimous agreement Read More…

Odfjell Tankers contracts Inchcape Shipping Services to manage fleet

Norwegian-based Odfjell Tankers has appointed marine management company Inchcape Shipping Services (ISS) in a major new global hub agency contract, which will manage services for over 4,000 annual port calls worldwide.

A major player in the global transportation and storage of chemicals and petroleum products, Odfjell’s specialised fleet currently stands at 92 vessels and nine newbuildings, with total capacity of around 2.9m dwt.

The new contract with ISS will oversee Read More…

IMO hails climate change as key focal point

Global warming has been designated by the IMO Council as the theme for this year’s World Maritime Day, and urgent global action to be taken by the shipping industry against greenhouse gas emissions is the central area of focus for the appointed slogan; ‘Climate change: a challenge for IMO too!’

Addressing the IMO’s Sub-Committee on Fire Protection, IMO Secretary General Efthimios Mitropoulos, said: “I sincerely hope that the theme Read More…

DVB Bank launches new Shipping Asset Management division

DVB Bank has pioneered a new Shipping Asset Management division to tackle the credit challenges being faced in the current asset backed shipping market for the banking and financial investor community.

Targeting institutions requiring assistance in the long-haul struggle of economic recession, the unit offers comprehensive restructuring and recovery techniques and services to assist in managing financial situations.

Dagfinn Lunde, a Managing Director at DVB Bank, said: “The formation Read More…

Heidmar boosts Star Tankers pool with four newbuilds

Heidmar has announced the delivery of four additional vessels to the Star Tankers pool as longstanding members demonstrate their commitment to boosting the pool’s fleet, now consisting of 35 modern, double hull panamax tankers.

Established pool member Tsakos Shipping and Trading entered the M/T Selini, closely followed by the M/T Salamina; both newbuilds fresh out of Sungdong Shipyard in Korea. Heidmar also announced that Sanko Steamship has committed two Read More…

UK P& I Club announces rise in death and injuries during mooring

Severe accidents in mooring operations involving death and injuries have increased according to the UK P&I Club, totalling $34 million in related insurance claims over the last 20 years.

Statistics reveal a long-term trend for a rise in such claims, with mooring injuries landing seventh in the most frequent cause of personal injuries dealt by the Club, yet third most expensive; indicating the severe nature of the claims.

The Read More…

DNV prepares hazardous material inventories for boom in ship recycling

DNV has formulated important inventories of hazardous materials as the global recession witnesses a major boom in recycling of vessels, in preparation for the IMO’s International Convention for the Safe and Environmentally Sound Recycling of Ships later this year.

With volumes of tonnage sent for recycling in the first month of 2009 standing at 40% more than in the entire year of 2006, DNV has raised significant concern over the Read More…