SMI Newsdesk Archives

Last Liberty ship reaches Greece

Flying the Greek flag, the Hellas Liberty, formerly known as the Arthur M. Huddell, has safely reached the port of Piraeus in Greece after leaving Norfolk, Virginia, on December 6, 2008. Until July 2008, the World War II-era Huddell was the last Liberty ship in the Maritime Administration’s National Defense Reserve Fleet., and was moored in the James River Reserve Fleet site at Fort Eustis. The ship was Read More…

Braemar predicts lower broking profits

Alan Marsh Braemar Shipping Services CEO

Leading London shipbroker Braemar Shipping Services has warned of lower shipbroking revenues and profits in 2009/10 but believes that the appreciation of the US dollar relative to sterling will ameliorate any reduction in dollar revenue.

Issuing its Interim Management Statement, the company said shipping markets had experienced a significant correction over the past four months and in varying degrees dry and wet Read More…

Attica founder Pericles Panagopoulos is kidnapped in Athens

The founder of one of Greece’s largest fast ferry owners Attica, has been kidnapped at gunpoint near his home on the outskirts of Athens, police sources claim.

Pericles Panagopoulos was abducted, along with his driver, after their car was deliberately blocked in the seaside suburb of Kavouri. The two men were bundled into another vehicle, though the driver was released a short while later.

Mr Panagopoulos, Read More…

Singapore dominates 2008 box handling but slowdown is on the way

PSA International (PSA) underlined its strength as a major global container port group by handling 63.2 million teus at its port projects around the world for the year ending 31 December 2008.

This volume represented a growth of 7.3% over 2007, with PSA Singapore Terminals contributing 29.0m teus (7.0% growth) and PSA’s terminals outside Singapore handling 34.2m teus (7.7% growth).

Eddie Teh, Group CEO, PSA International, said: “2008 Read More…

London Club warns of potential increase in exposure to liability

The London P&I Club has warned its members to be wary of a potential increase in exposure to liability for claims as a result of pressures exerted by charterers in the current tough market conditions, and against a background of continuing piracy attacks against shipping.

In the latest issue of its Club News, the Club says: “Given the prevailing market conditions, it might be expected that charterers will Read More…

Seafarers and families of the Hebei Spirit two demonstrate in New Delhi

Merchant navy seafarers and relatives of Captain Jasprit Chawla and Chief Officer Shyam Chetan, the two jailed Indian shipping officers from the Hebei Spirit, staged a demonstration in New Delhi on Saturday seeking justice and their release by contending they were not guilty for the collision of the anchored tanker with a crane barge in Korea.

According to local press reports, the protestors were seeking justice and the Read More…

‘We deplore the payment of ransoms’

IMEC, the employers’ association, has welcomed the release of the VLCC Sirius Star by Somalian pirates but slammed the need to pay ransom demands because of the lack of sufficient armed naval power.

Giles Heimann, IMEC, Deputy Secretary General, said: “We deplore the need for payment of ransom, but ship owners will continue to have to do this until armed naval forces in the region are sufficient to prevent such Read More…

Keppel renegotiates rig building contracts

The wholly owned subsidiary of Keppel Offshore & Marine Limited, Keppel FELS Limited, and Seadrill Jack-Ups Ltd have agreed to continue with the building of the two jackups on revised terms that are mutually beneficial. The contract value of the two jackups is $420 million.

It followed an announcement at the end of November that Seadrill Limited, Scorpion Offshore Ltd, and Lewek Shipping Pte Ltd would review options on their Read More…

Cosco’s Wei Jiafu named as 2009 CMA Commodore

Captain Wei Jiafu, president and CEO of China Ocean Shipping (Group) Company (COSCO) has been named as Connecticut Maritime Association (CMA) Commodore for 2009.

Capt Wei follows a long succession of influential maritime industry leaders as Commodore. The Award will be presented to Capt. Wei on March 25, 2009 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition.

The Award Read More…

Banks are responsible for the current crisis, claims Vafias

Banks are responsible for at least 80% of the financial crisis facing today’s ship owners and in very few circumstances will they prove to be cooperative and flexible, according to leading Greek ship owner Harry Vafias.

In a hard hitting round table debate to be published in the January issue of Ship Management International, StealthGas boss Harry Vafias said problems could lie ahead for the shipping industry as the Read More…

DMC on course for 2012 deadline

Dubai Maritime City, the world’s first purpose-built maritime centre and part of the Dubai World Group of companies, continues to achieve major development milestones and confidently progresses towards its 2012 completion date.

Infrastructure for the Industrial Precinct of the unique maritime development is set to continue significantly during 2009 making it fully operational ahead of schedule with 85% of the work complete. Groundwork for the Commercial Precinct is Read More…

BW Shipping renamed BW Maritime

BW Shipping Managers Pte has been renamed BW Maritime Pte as part of an internal reorganisation to leverage strengths across the BW Group.

The new entity will continue to be responsible for all tanker fleet commercial activities along with a number of corporate activities within the BW Group. BW Maritime has also been registered in Singapore’s Approved International Shipping Enterprise (AIS) scheme from January 1st 2009. AIS provides companies with Read More…