Owners are walking away from their deposits claims Top’s Pistiolis

More and more ship owners are walking away from their newbuilding deposits leaving shipyards with the impossible task of finding takers for the uncompleted projects, according to Evangelos Pistiolis, head of Top Ships. Speaking ahead of today’s expiration of an extention to an exclusivity agreement with an affiliate of George Economou, the Greek shipowner, involving […]

Banks are now ‘paying’ to get out of their financing commitments

The escalating financial crisis that has brought the global shipping industry to a standstill has taken a new twist after it was divulged that one German bank is reported to have paid a ship owner to get out of a newbuilding financing arrangement. Shipowning sources contacted by SMI confirmed that the bank not only paid […]


The results of a three year study designed to draw up a pan-industry set of usable and comparable Key Performance Indicators to measure quality ship management services will be unveiled by InterManager, the trade association of in-house and third part ship managers, at its Annual General Meeting in Singapore on November 17th. In a separate […]

SingTel and Becker forge marine comms deal

Singapore Telecommunications and Becker Marine Systems Communication, a leading maritime communications services provider, have signed a teaming agreement to offer cutting-edge managed Infocomm Technology (ICT) solutions for the global maritime industry. Under the agreement, Becker Marine Systems Communication will seek to incorporate SingTel’s suite of Maritime Satellite solutions into its umc.global network managed services platform. […]

Wallem urges crews to ‘call home’

Hong Kong-based Wallem Group has become the latest third party ship manager to install Blue Ocean Wireless (BOW) GSM communication capability across its managed fleet. For the first time, all crew onboard Wallem-managed vessels will be able to call or text their friends and family from the privacy of their own cabins. The seafarers will […]

Manufacturer claims ‘magic pipe’ blocker breakthrough

Breakthrough installations have been completed of a fail-safe ship technology that automatically prevents the negligent or wilful discharge of oil overboard. A liquefied natural gas carrier and a car carrier, under completion at leading South Korean yards, will be the first ships at sea to feature SmartSafe, the shipping industry’s first working automatic ‘plug and […]