SMI Newsdesk Archives

Liverpool welcomes its biggest ship

The largest ship ever to enter the Port of Liverpool berthed at the Tranmere Oil Terminal to discharge a new traffic of West African crude oil for the Shell Stanlow Refinery in Cheshire.

At 158,569 gross tonnes BW Bauhinia took the record held for nearly two decades by the 153,517 gross tonnes Nisa since she sailed into the River Mersey in May 1988.

Onboard the new prize holder Read More…

Panagopoulos released but no news on the ransom

Greek shipowner Pericles Panagopoulos has been released by his kidnappers near the Greek capital, police say.

According to AFP, the 74-year-old owner, who was kidnapped in Athens on January 12, was released early on Tuesday, police said. His wife Katerina had made a fresh television appeal on Friday for the kidnappers to contact her after she said they had failed to do so for two days. She said Read More…

MSC Magnifica successfully floated

MSC Cruises’ MSC Magnifica has been floated out of its dry dock and transferred to the Penhoet dock at the STX Europe shipyard, previously known as Aker Yards, in Saint Nazaire, France.

Approximately 40 STX Europe personnel and six tugs were involved in the operation, which took a total of 24 hours. Starting at 22.30 on Wednesday 14 January and using the rising tide together with pumps to Read More…

Pac Basin ‘now chasing’ third party business

Hong Kong-based shipowner and manager Pacific Basin appears to have mounted something of a volte face when it comes to chasing third party shipmanagement business following claims in Lloyd’s List that it is targeting banks and financial institutions faced with taking over the fleets of struggling or bankrupt ship owners.

CEO Nigel Cleave resigned as CEO of the company’s third party management arm PB Maritime Services in December, claiming that Read More…

Gibraltarian lawyers warn ship arrest flurry is soon to hit

Major shipping lawyers have warned that the number of ship arrests this year will increase dramatically as significant concern over lack of finance spreads across the industry, writes Amy Kilpin from Gibraltar.

Unpaid mortgages and fees, coupled with a likely drop in safety standards and regulations are set to pave a future arrest-frenzy for ship owners and managers, as the economic meltdown blazes with intensity.

Prominent Gibraltarian law Read More…

Frontline predicts 80m barrels of oil being stored at sea

Frontline has claimed that oil companies were storing “about” 80 million barrels of crude oil at sea, possibly the highest in a quarter of a century. The figure is the highest storage estimate reported to date but shipbroking houses and banks that trade oil and other industry sources believe the total is considerably lower.

“We think it’s about 80 million barrels…but we are not 100% certain,” the acting chief Read More…

Moore Stephens puts a brave face on shipping’s prospects

Leading shipping accountant Moore Stephens says that, despite the current economic downturn, shipping is still a good business to be in and that resourceful investors will find opportunities to expand, or to get back into shipping, over the next 12 months.

According to Julian Wilkinson, head of the Moore Stephens shipping team, shipping enters 2009 with at least one certainty, that “the good times are over for now. Read More…

Lloyd’s Register helps South Korean navy to deep-dive record

ROKS DSRV II, a rescue submersible built by UK underwater defence systems specialists, James Fisher Defence (JFD), based at Renfrew in Scotland, is the first submarine in Korea to be classed with Lloyd’s Register, marking the first involvement by Lloyd’s Register Asia with the ROK Navy.

Also, the submersible’s final dive during its sea acceptance tests – to a depth of 507 metres – is the deepest recorded dive in Read More…

Shipping industry to demonstrate outside Korean Embassy in London over Hebei Two

Employers, trade unionists, and shipping industry representatives will rally outside the South Korean embassy in London on Friday 23 January 2009 to protest against what they describe as the politically and economically motivated imprisonment of two men in South Korea.

The rally will bring together organisations including global union federation the International Transport Workers’ Federation (ITF), shipowners’ and managers’ associations INTERTANKO and Intercargo, the International Maritime Employers’ Committee Read More…

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…