SMI Newsdesk Archives

Freeseas charters out Free Hero at $13.5K per day

Nasdaq-listed bulk owner FreeSeas Inc has successfully obtained charter hire for its 24,318 dwt handysize vessel, Free Hero. She has been delivered to her charterers for a time charter trip of 25 days at $13,500 per day.

Ion Varouxakis, President and CEO of FreeSeas (pictured), said: “We continue to successfully obtain increasingly favourable rates on spot voyages for our vessels. We look forward to keeping our investors apprised Read More…

NATO returns to counter piracy mission

NATO ships will resume their counter piracy mission earlier than planned and will make their way back to the Gulf of Aden this week.

With the great increase in pirate attacks, and the ensuing international concern, NATO’s recent contribution to the international counter piracy effort has been significant. NATO nations have revised their plan for Standing NATO Maritime Group 1 (SNMG1), cancelling their port visits to Singapore and Australia Read More…

Wilhelmsen Ships Service wins Greatship Global contract

Wilhelmsen Ships Service, the world’s leading ships services network, has been awarded a significant contract by Indian offshore company Greatship Global. The company will provide an Initial Supply package to each of five offshore newbuildings being undertaken by Greatship. These include a new drillship being delivered at Keppel Shipyard, Singapore and four anchor handling tug supply oil rig support (AHTS) vessels in Oslo, Singapore and Colombo.

The contract is also Read More…

Keppel appoints new chairman

Lim Chee Onn will step down as non-executive Chairman and Director of the Company with effect from 30 June 2009 and will be succeeded by Dr Lee Boon Yang with effect from July 1st, 2009.

Mr Lim will, however, continue to play a role in the Group as Senior Advisor “in order that the Group may benefit from his continued guidance and support,” the company said.

The Board had, on December Read More…

Industry players urge that critical training must not be cut to save costs

Major industry players have raised significant concern over the future of the shipping sector as owners and managers seek to cut costs by freezing training, causing a potentially “huge demographic time bomb” according to The International Shipping Federation (ISF) .

Natalie Shaw, Secretary of ISF, warned that “there is still a growing shortage of officers, and this is a real danger to the industry if people cut back on Read More…

The Standard Club warns rise in stowaways is costing the industry millions

An increase in the number of stowaways as a result of the economic downturn is afflicting the industry and costing owners and P&I Clubs millions, according to a revealing report released by The Standard Club.

Causing considerable complications for the master and owner if detected only after the vessel has left the port of embarkation; the Club revealed that since 2000 it has had to deal with 982 stowaway claims Read More…

InterManager shocked and appalled by injustice of Hebei Spirit trial

InterManager has spoken with outrage against reports emerging from Korea indicating that the Master and Chief Engineer of the Hebei Spirit have not been absolved following a further trial at the Korean Supreme Court.

Guy Morel, General Secretary of the international trade association for in-house and third party ship managers, has expressed utter infuriation at the news: “Enough is enough! These two dedicated seafarers have been held for more Read More…

Give seafarers back their dignity

Seafarers should be afforded the same dignified status as airline pilots and be given one passport and visa that says they are seafarer officers and which allows them the freedom to leave and return to their ship in port, said Peter Cremers, Chief Executive of Hong Kong-based manager Anglo-Eastern.

“My seafarers say to me that if they are in an airport and have to join a ship then Read More…

Do you agree?

DVB banker Dagfinn Lunde recently claimed that banks should not hand out repossessed vessels to third party management because they will get overcharged? (click here to see the full story). Do you agree with him?

We would like to hear your views. Use the reply box below.

Shipping left out in the cold in 2009 UK Budget

Despite the urge to alter the UK tonnage tax regime, the Government has made no mention of it in the 2009 Budget or any other measures which significantly affect the shipping sector, leaving the industry completely out of the loop.

Shipping accountant Moore Stevens has indicated that although a variety of measures proposed in January 2008 were later withdrawn, including a potential amendment to the EU flagging rules excluding ships Read More…

DNV warns of too great a focus on short-term economics

DNV has cautioned ship owners and managers not to push sustainability issues to the background while they struggle with more immediate business challenges faced by the economic recession, as negligence may result in far greater problems and costs in the future.

Managing Director, Per Marius Berrefjord, revealed that the currently harsh market conditions are causing even great concern for long-term sustainability, and that the global credit crisis has “left Read More…

Lunde slams third party managers

One of the world’s highest profile shipping bankers has thrown cold water on hopes by ship managers that ships repossessed by the banks will be handed out for third party management, reports Sean Moloney from Singapore.

Indeed, he even went as far as to say they will not be used and to slam their practices of overcharging for the benefit of their services.

Answering a question from Ship Read More…