SMI Newsdesk Archives

Financial reporting requirements undergo further change

International accountant and shipping consultant Moore Stephens has warned that changes to international financial reporting requirements could lead to alterations in the way in which shipping companies prepare their accounts.

According to Moore Stephens Technical Partner David Chopping, a few years ago, the International Accounting Standards Board (IASB) “took note of the complaint that it kept changing things. It therefore agreed to have a few years when standards didn’t change – Read More…

Less air pollution from ships than expected

There are much lower emissions of sulphur and nitrogen oxides as well as particles from ships than expected, according to the findings of a new investigation carried out in Denmark.

While shipping was expected to count for 68% of sulphur emissions, in reality it only accounted for 37%, figures from Danmarks Miljoundersogelser and the University of Aarhus, for the Partnership for Cleaner Shipping between the Danish Environmental Protection Read More…

LR podcast to look at climate issues

The Lloyd’s Register Group has launched a six-part audio podcast series addressing the issues that industry and governments will be discussing during the 15th Conference of the Parties (COP) in Copenhagen, December 7-18, 2009.

‘The Lloyd’s Register Copenhagen Podcast Series’ will feature interviews with leading global climate change experts from the Lloyd’s Register Group.

Episode 1, available for listening and downloading on and features an interview with Dr Read More…

Hellespont steps into Singapore

The Hamburg-based Hellespont group has opened a new company in Singapore, expanding its operational strength and global presence in the international offshore markets.

Establishing itself as a key operator of offshore vessels in Singapore, the new branch will be responsible for developing relationships with key offshore charterers in Singapore and sourcing of crew for the Hellespont-managed PSV fleet.

Phrixos Papachristidis, Managing Director of Hellespont AG & Co KG, the parent Read More…

Draft bunkering standard could endanger crews

Widespread industry concern has been raised that proposed changes to the draft ISO/DIS 8217 bunkering standard may have adverse safety and operational implications for ship’s crew.

DNV Petroleum Services has stressed that the proposed limits for hydrogen sulphide (H2S) content could pose a “very serious safety issue” which could place crew in considerable jeopardy.

H2S, a highly toxic and flammable gas potentially present in marine fuel, is a known Read More…

Today’s owners are ‘bankrupt’ claims Droussiotis

The majority of today’s ship owners are in fact ‘bankrupt’ as banks refuse to step in to foreclose or demand the enforcement of the asset protection clause for fear of materialising losses of millions and billions of US dollars on their balance sheets, the CEO of Bernhard Schulte Shipmanagement has claimed.

Addressing the 54th ISSA Convention & Trade Exhibition in Istanbul, Andreas Droussiotis told delegates: “The freight market has collapsed Read More…

ISHIMA set to expand in Japan

Singapore-headquartered ISHIMA, the ship management firm belonging to the Italian shipowner d’Amico Group, is aiming to expand its services to the Japanese shipowning market, reports Tokyo’s Kaiji Press.

It currently manages one ship each for two Japanese owners, but the company is advancing talks with four to five other owners from Shikoku’s Setouchi region.

ISHIMA’s shipmanagement fleetat present is made up of a total of 21 ships under technical management, with MR-type Read More…

Short Sea shipping awards under way in Ireland

The annual Short Sea Shipping Company awards are under way in Ireland with the winner of this year’s contest due to be revealed at a gala dinner in Dublin on November 26, writes Hugh Oram, Dublin

These awards are organised by the Irish Maritime Development Office (IMDO) and the Irish Exporters Association (IEA) and according to John Whelan, CEO of the IEA, they are designed to recognise the commitment to Read More…

ITM looks to officer ‘fixed contracts’

International Tanker Management boss Lars Modin is looking at introducing fixed contracts for officers on his managed vessels as a way on boosting crew loyalty and ensuring the recruitment and retention of the best officers available.

Admitting the process does have its risks, the ITM President and CEO said his plan was to target around 20% of officers for the fixed contracts.

He told SMI: “We need to Read More…

Free anti-piracy advice now available

The Merchant Maritime Warfare Centre (MMWC), a UK based, non-profit counter-piracy organisation, is to offer its ship support service free to ships in need.

This is the first time such an extensive counter-piracy consultation service has been available without cost to vessels and operators, and marks the beginning of MMWC’s plan to provide structured best practice across the maritime industry in the escalating fight against piracy.

The Ship Support Service Read More…

Thome to produce cartoon safety videos

Thome Ship Management has entered into an agreement with an Indian production company to make animated maritime safety videos for the shipping industry.

It has linked with Karishma Consultancy Services (KARCO) of Mumbai, to jointly develop high-end 3D animated marine safety videos.

Thome believes the 3D animated marine safety videos have several key benefits over conventional marine safety videos. They will allow the creation of ship models resembling the subject Read More…

DFM opens in Qatar

Dobson Fleet Management has become the first independent ship manager to be established in the state of Qatar by opening a new ship management office in Doha , Qatar, in partnership with three prominent local businessmen.

The new company, which will trade as DFM Maritime Qatar Ltd, will work to strengthen DFM’s presence in Qatar and the GCC area.

caption: Pictured at the opening ceremony in Qatar, from Read More…