SMI Newsdesk Archives

Maritime authorities raise concern over future seafarer staying power

Global shipping leaders have expressed deep concern about the spiralling problems rife across the industry and the colossal impact on an already deficient workforce, sparked by claims that “current seafarers are already reviewing their future at sea”.

With a global seafarer shortage being common knowledge for some time, ships being laid up and companies going down as a result of the global economic crisis has hardly been helped Read More…

InterManager slams jailing of Hebei Spirit officers

InterManager, the international trade association for in-house and third party ship managers, has condemned the decision by South Korean appeal court judges to jail the Master and Chief Engineer of the Hebei Spirit.

Guy Morel, General Secretary of InterManager, slammed the retrial decision, which comes after the pair were found innocent of the same charges by a South Korean court in June this year. “It is unacceptable that Read More…

Cleave resigns from PB Maritime

Nigel Cleave has resigned as CEO of PB Maritime Services citing a shift in the company’s operational focus as the reason for his move.

He will leave on December 19th “to embark upon the other opportunities that arise in this current market”.

He told SMI: “The priority for the Pacific Basin Group at this moment in time rests with its core dry cargo business, resulting in their concentration Read More…

Eimskip bosses take pay cut to ward off job losses

Troubled Icelandic containership and reefer owner Eimskip has cut the salaries of its highest earners by 10% and laid off 72 employees in Iceland and across Europe as it struggles to cope with a substantial drop in imported cargoes fuelled by the collapse of the Icelandic Krone, writes Sean Moloney from Reykjavik.

While exports soar on the back of cheaper krone-based export prices, fewer Eimskip vessels are now serving the Read More…

Intertanko writes forceful appeal letter over Hebei Spirit case

In a bid to shed justice on the Hebei Spirit case and the detained officers currently undergoing court appeal, Intertanko has sent an open letter to the President of the Republic of Korea stressing that the court decisions are “technically flawed and therefore that they draw unjust conclusions.”

Expressly offering sympathy to the Korean population over the damages caused by the extensive oil spillage, Intertanko has ground home the Read More…

Cry for help as West of England announces a cash call

Hit hard by financial woes, The West of England is making cash calls that could amount to $140m as a result of significant investment losses combined with historically high claims levels in 2006 and 2007, amounting to financially unsustainable conditions.

The P&I Club is requesting a substantial increase in premiums amid widespread concern over claims trends, and has joined the bandwagon of requesting for an additional call as it becomes Read More…

Shipowners’ Club downgraded as P&I hits troubled waters

Despite its reputation as one of the UK’s financially stronger P&I Clubs, Standard & Poor has been forced to significantly downgrade the Shipowner’s Club’s financial strength rating, according to Nick Riddle, Executive Director of HSBC’s Global Marine Practice division.

Hit hard by the negative factors affecting the P&I insurance sector, the club has revealed a visible reduction in its free reserve, with a further anticipated reduction due to negative investment Read More…

United Nations plea for action against vessel noise pollution

Governments and wildlife groups are pushing forward for action against noise pollution from vessels, off-shore construction and recreation, and a newly-emerging generation of military sonars causing harm to marine mammals across the world’s oceans.

The United Nations Environment Programme’s Convention on Migratory Species conference in Rome saw a wealth of organisations take the stand to urge both governments and the entire shipping industry to adopt quieter engines for ships, Read More…

EU backs new project to promote short sea shipping in Europe

A new three-year project to promote greater use of short sea shipping in European waters has been launched with full-frontal support and a €2,309,054 grant from the European Commission.

Conducted by a consortium of 16 international partners including shipping industry members, EU member states’ Short Sea Promotion Centres (SPCs), and led by Amrie, the Alliance of Maritime Regional Interests in Europe, the project aims to encourage more freight to Read More…

Black cloud signals cold Christmas for shipping

Worries about FFA clearance are obscuring a far greater threat to shipping, according to Janos Koenig, managing director of Eurofin, the shipping investment advisory group. “If the FFA market implodes, then some speculators will get hurt,” said Koenig. “But that is not really the issue. If the banking derivatives market implodes, everyone will hurt. That’s the difference.”

“According to BIS (Bank for International Settlements) figures, at the end Read More…

IUMI supports IACS protests

The International Union of Marine Insurance has reiterated its full support for members of IACS (International Association of Classification Societies) in resisting attempts by the European Union to push through a regulation for IACS members and non-IACS members to accept each other’s class certificates on a “no questions asked” basis. The proposed acceptance would cover materials, equipment and components of ships.

If such a regulation is introduced, it Read More…

Teesport offers its ‘ship parking’ facilities

Teesport has become a parking lot for at least two unemployed container ships as the economic downturn slows world trade, according to a pres report in the local NEBusiness.

The ships have been given a temporary berth at Able UK’s Middlesbrough Port Facility where the Cala Portofino is already moored and is expected to be joined on Friday by her sister ship the Cala Positano, currently en route Read More…