SMI Newsdesk Archives

‘We deplore the payment of ransoms’

IMEC, the employers’ association, has welcomed the release of the VLCC Sirius Star by Somalian pirates but slammed the need to pay ransom demands because of the lack of sufficient armed naval power.

Giles Heimann, IMEC, Deputy Secretary General, said: “We deplore the need for payment of ransom, but ship owners will continue to have to do this until armed naval forces in the region are sufficient to prevent such Read More…

Keppel renegotiates rig building contracts

The wholly owned subsidiary of Keppel Offshore & Marine Limited, Keppel FELS Limited, and Seadrill Jack-Ups Ltd have agreed to continue with the building of the two jackups on revised terms that are mutually beneficial. The contract value of the two jackups is $420 million.

It followed an announcement at the end of November that Seadrill Limited, Scorpion Offshore Ltd, and Lewek Shipping Pte Ltd would review options on their Read More…

Cosco’s Wei Jiafu named as 2009 CMA Commodore

Captain Wei Jiafu, president and CEO of China Ocean Shipping (Group) Company (COSCO) has been named as Connecticut Maritime Association (CMA) Commodore for 2009.

Capt Wei follows a long succession of influential maritime industry leaders as Commodore. The Award will be presented to Capt. Wei on March 25, 2009 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition.

The Award Read More…

Banks are responsible for the current crisis, claims Vafias

Banks are responsible for at least 80% of the financial crisis facing today’s ship owners and in very few circumstances will they prove to be cooperative and flexible, according to leading Greek ship owner Harry Vafias.

In a hard hitting round table debate to be published in the January issue of Ship Management International, StealthGas boss Harry Vafias said problems could lie ahead for the shipping industry as the Read More…

DMC on course for 2012 deadline

Dubai Maritime City, the world’s first purpose-built maritime centre and part of the Dubai World Group of companies, continues to achieve major development milestones and confidently progresses towards its 2012 completion date.

Infrastructure for the Industrial Precinct of the unique maritime development is set to continue significantly during 2009 making it fully operational ahead of schedule with 85% of the work complete. Groundwork for the Commercial Precinct is Read More…

BW Shipping renamed BW Maritime

BW Shipping Managers Pte has been renamed BW Maritime Pte as part of an internal reorganisation to leverage strengths across the BW Group.

The new entity will continue to be responsible for all tanker fleet commercial activities along with a number of corporate activities within the BW Group. BW Maritime has also been registered in Singapore’s Approved International Shipping Enterprise (AIS) scheme from January 1st 2009. AIS provides companies with Read More…

Gulf Navigation takes delivery of the Gulf Deffi

Gulf Navigation Holding has taken delivery of the $55m Gulf Deffi a newly built tanker constructed at the Hyundai Mipo Dockyard in Ulsan, South Korea. She is the first of three tankers expected this year.

The vessel is the third in a series of four sophisticated chemical carriers ordered by Gulf Navigation holding PJSC. With a deadweight of 45,951 tonnes, a capacity of 54,300 cubic metres, 20 specially Read More…

Manager warns of major risks in insurance cutbacks

A growing number of ship owners are expected to take a huge gamble by failing to obtain adequate insurance cover, all in the name of saving money, according to a leading ship manager.

Barry Hughes, Finance Director at Bibby Ship Management, said ship owners are facing difficult financial decisions and ‘were exploring increasingly risky ways to cut their baseline.

He said: “Taking too short term a view of Read More…

Antwerp Port Authority steams towards hope and glory with dock water heating project

Antwerp Port Authority has pushed ahead for recognition of its innovative and ecologically-fronted dock water heating project, by entering the Industry Technical Management Awards 2009.

With the aim to reduce CO2 emissions by 79% and forefront the realm of port energy-efficiency, the Port Authority has devised a heating system for its offices in the Nordkasteel Bridge building entirely through the utilisation of dock water.

Turning its back on traditional heating Read More…

ITIC warns brokers over ‘first-class charterers’ usage

The International Transport Intermediaries Club (ITIC) has advised shipbrokers against using the term ‘first-class charterers’ when conducting fixture negotiations, following a claim made by ship owners against one of its broker members in respect of the failure of charterers to perform a contracted fixture.

Writing in the latest issue of its Claims Review, ITIC explains, “Norwegian shipbrokers were involved in negotiations for a voyage charter. When entering the market, they Read More…

DCPD fuel warning in Latvia

Leading fuel testing agency Lintec Testing Services has warned that three fuel oil samples taken recently from vessels that have bunkered in Riga, Latvia, have shown the presence of Dicyclopentadiene (DCPD), a synthetic substance not naturally occurring within marine fuel.

According to Lintec Managing Director Geoff Jones, the presence of DCPD was detected by Lintec’s chemical screening service. “This fuel is clearly in breach of Section 5.1 of Read More…

Sophia Loren and MSC Fantasia take beauty to new levels

Hollywood legened and acclaimed beauty Sophia Loren cuts the ceremonial ribbon at the lavish christening ceremony of the MSC Fantasia, regarded by many as the most beautiful ship in the world.

MSC Fantasia, the tenth ship in the MSC Cruises fleet, is taller than the Leaning Tower of Pisa and longer than the Eiffel Tower and combines traditional Italian elegance with ground-breaking technological features, all dedicated to superior Read More…