SMI Newsdesk Archives

Orderbook cancellation rate at an all-time high

The total ship building market saw a raise in cancellations during January with a total of 60 orders cancelled, higher than the monthly average in 2009, according to the latest Fairplay Shipbuilding Market Forecast. January was the third consecutive month of declining orders since October 2010 but early indications point to an improvement during February.

Contracting of new dry bulk vessels in 2009 was cut by almost two-thirds from the Read More…

DNV opens Miami GCC

Norwegian class society DNV has announced plans to open a new Global Cruise Centre in Miami that will enable it to respond more quickly to local customer demand and serve as a hub for a network of DNV cruise ship service centres around the world.

According to DNV Maritime’s COO Tor Svensen, he increasingly global nature “of our customers’ operations is a key driver behind our decision to establish a Read More…


Shortages of skilled and qualified seafarers could have an immense impact on the global economy and are being exacerbated by the negative impact of crew criminalisation and the escalating problem of global piracy, warns InterManager, the international trade association for the ship management industry whose members represent more than 200,000 seafarers.

“Legislative measures following an accident or incident have made the seafarer increasingly susceptible to criminalisation, and a rising incidence Read More…

Fincantieri’s reverse factoring deal strengthens supplier relationships

Fincantieri has strengthened its relationship with its suppliers by signing a reverse factoring agreement, initially for three years, with Bank Paribas member BNL Group and the latter’s factoring specialist Ifitalia, to allow suppliers to the Italian shipbuilding giant to unfreeze credit and to draw on liquidity.

The agreement, covering more than 5,000 companies with combined annual purchasing turnover in excess of Euros 2 bn, allows Ifitalia to take on the Read More…

ClassNK commits ¥2.2 Billion to joint GHG reduction programme

ClassNK Chairman and President Noboru Ueda has annopunced that the Japanese classification society will commit ¥2.2 billion ($25 million) in research and funding as part of its participation in a national joint R&D program to reduce maritime greenhouse gas (GHG) emissions. ClassNK’s commitment will cover more than 25% of the project’s total budget of ¥8.5 bn ($95 million) through 2012.

Mr Ueda, who will become the Chairman of the International Read More…

Liberian Registry breaks 100m gt mark

The Liberian Registry has breached the 100m tons gross mark with the delivery of the 50,792 dwt bulk carrier Sanko Mercury at Oshima Shipbuilding Company in Nagasaki.

“In the past five years alone, the Liberian Registry has grown by 40m gt,” said Scott Bergeron, Chief Operating Officer of the Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the Liberian Registry. “That is twice the growth rate claimed Read More…

SMITV travels to Dubai to talk to ITM President Lars Modin

SMITV talks to Andreas Droussiotis about Cyprus, the recession and stepping down as BSM CEO

SMITV talks to Ole Stene about the crewing crisis and how it is affecting the Philippines

SMITV talks to Dirk Fry about Schoeller’s joint venture with Tsakos

SMITV talks to Guy Morel and Kuba Szymanski about what being an InterManager Secretary General means

ITIC warns professional service providers of rising claims exposure

The International Transport Intermediaries Club (ITIC) says it has seen an increase in the number of professional indemnity claims made against the professional service providers who are its members. And it warns that the increase is likely to continue as a result of the trend towards privatisation in what have traditionally been public sector-dominated disciplines such as hydrography.

In the latest issue of its newsletter, The Wire, ITIC notes that Read More…