SMI Newsdesk Archives

Hellespont launches chemical tanker pool

Hamburg-based Hellespont has launched a pool for modern IMO 2 chemical/product tankers.

The Seatramp Intermediate Tanker Pool will initially consist of three KG-financed and Hellespont-operated 13,000 dwt vessels, and Hellespont has committed a further eight 17,000 dwt newbuildings due between now and 2011 to the pool. Talks with other owners are at an advanced stage and the aim is to bring the pool to around thirty vessels by the end Read More…

MAAP opens new training campus in the Philippines

The Philippines’ Maritime Academy of Asia and the Pacific (MAAP) has opened a new campus dedicated to training seafarers who will work on board Japanese ships.

The JSU-IMMAJ Campus, the second for MAAP, was opened on April 7 in a ceremony attended by Philippine President Gloria Macapagal-Arroyo. She was joined by government, management and labor officials from both countries who are engaged in the project. Also present were 250 MAAP Read More…

Torm sends ships to drydock

Danish shipping company Torm has started sending ships to dry dock for maintenance work prematurely, so the ships will be ready when the market takes a turn, according to Maritime Danmark. The manoeuvre also helps reduce costs and capacity.

“At Torm, every penny is used, we are considering taking on cargo, we would not normally have considered and we are looking at dry docking. We have already put one ship Read More…

Danish owners to hold piracy crisis talks

The Danish Shipowners’ Association is to hold a special piracy crisis meeting after the Easter break in an attempt to prevent attacks on and hijacking of shipping in the waters east of Somalia.

“A solution could be to establish a coast guard to patrol along the stretch of coast to prevent pirates from leaving shore with their mother ships. It could be local coast guards, with African countries Read More…

No new orders for six months as cancellations continue

There have been no newbuilding orders worldwide for at least six months  as ship owners cut their investments and order cancellations keep on coming even at the risk of painful lawsuits following, claims Hellenic Shipping News.

According to the latest monthly report by shipbroker George Moundreas & Co, during the first quarter of 2009, with banks stepping away from shipping and focusing in their own problems, no new orders were Read More…

Heidmar and W-O agree tanker management jv

Heidmar and W-O Shipping Group have signed a letter of intent to enter into a joint venture to commercially manage small tankers.

Both companies have agreed on terms for the formation of a joint venture, WOMAR Holdings LLC to commercially manage small and intermediate size IMO II/Chemical and other tankers less than 30,000 DWT.

Heidmar’s Marida Tanker pool and W-O Shipping’s Yamuna and Ganges pools will become part of the Read More…

Captain taken hostage as Maersk Alabama crew retakes ship

There was an astonishing twist in the latest piracy attack off the coast of Somalia as the American captain of the Maersk Alabama was taken hostage by the pirates in one of the vessel’s lifeboats after the crew thwarted the attack and retook command of the vessel.

According to reports from the BBC, the Captain was seized by armed pirates who had stormed the 1,100teu Maersk Alabama after a five-hour chase 400 Read More…

Maersk Line vessel hijacked by Somali pirates

Maersk Line has become the latest high profile target of Somali pirates after the 1,100teu boxship the Maersk Alabama was boarded and hijacked by pirates.

The US-operated vessel was seized in the Indian Ocean about 340 miles (500km) east of the capital, Mogadishu. Press reports suggested the vessel was carrying food aid for the World Food Programme.

The US flagged vessel has a crew of 20 US nationals Read More…

Canada Forest ups stake in Pac Basin

Interest was mounting that Hong Kong-based dry bulk owner player Pacific Basin Shipping may be the target of a possible takeover after a Canadian vessel owner and commodity company increased its stake in the business from 5.2% to just under 9.4%.

The move by Canada Forest Navigation is understood to be the most substantial ownership interest taken by a vessel owner/operator since Pacific Basin listed in 2004 (excluding Read More…

IRI opens offices in Houston and Dubai

International Registries, Inc. (IRI), Administrator of the Marshall Islands Maritime and Corporate Registries, has expanded its worldwide network by opening offices in Houston and Dubai. This expansion enables the Registry to further augment its services and will provide clients in these areas with the full expertise of the Registry in their local regions.

Bill Gallagher, President of IRI (pictured), said: “Opening offices simultaneously in Houston and Dubai is Read More…

Cost-cutting is making life at sea ‘miserable’

Danish officers believe that the shipping companies are cutting expenses so much at the moment that it makes the sailors’ life a misery. Savings include everything from the everyday laying of the table on board to therapy assistance, according to MaritimeDanmark.dk.

“It is always annoying when expenses must be cut. The sailors understand that the shipping companies have to save money, but they do not like it when provision of Read More…

Shipping confidence levels plummet

Confidence levels in the shipping industry have declined by more than 20% over the past twelve months, sparking fear among owners as markets continue to deteriorate and competition turns vicious.

A twelve month analysis of the Shipping Confidence Survey, produced by shipping consultant Moore Stevens, revealed that the average shipping confidence level expressed by owners and managers was down from 7.1 to just 5.4 against last year’s figures, Read More…