SMI Newsdesk Archives

Eitzen goes against the economic flow

Eitzen Maritime Services has defied the economic downward trend with its first quarter revenue standing at a notable 86% more than last year, posting sales of $118.1m; up significantly from just $63.7m in the first quarter of 2008.

Annette Malm Justad, CEO, said: “We experienced a very strong order flow in the first quarter. Supply contracts with the military forces of a number of countries more than compensated for Read More…

K Line to trim fleet to weather crisis

Kawasaki Kisen Kaisha (K Line) has unveiled one of the most radical fleet reduction plans so far announced as an urgent step to cope with the current economic crisis.

Under its medium-range management plan K Line Vision 100, the company planned to boost the fleet under its operation to 573 units by the end of fiscal 2009 and to 640 units by the end of fiscal 2011. However, Read More…

Singapore’s big ambition for global shipping dominance

Singapore has its sights set high on becoming a ‘global maritime knowledge hub by 2025’, according to the latest governmental meeting of the 3rd Maritime Research and Development Advisory Panel (MRDAP), hosted by the Maritime and Port Authority of Singapore (MPA).

Based on the identification of global trends in the four key maritime business sectors of port, shipping, maritime services, and offshore marine & engineering, the panel has Read More…

New tugs for the Panama Canal

The Panama Canal Authority has introduced five new tugboats to its fleet. The new units, purchased from Cheoy Lee Shipyards, have an output capacity of 4,800 horse power and a bollard pull of more than 60 metric tons.

Additionally, the Canal has made some operational changes that increase efficiency and streamline operations. The ACP moved the management of its shipyard to the Canal’s Maritime Operations Division, led by Read More…

Freeseas charters out Free Hero at $13.5K per day

Nasdaq-listed bulk owner FreeSeas Inc has successfully obtained charter hire for its 24,318 dwt handysize vessel, Free Hero. She has been delivered to her charterers for a time charter trip of 25 days at $13,500 per day.

Ion Varouxakis, President and CEO of FreeSeas (pictured), said: “We continue to successfully obtain increasingly favourable rates on spot voyages for our vessels. We look forward to keeping our investors apprised Read More…

NATO returns to counter piracy mission

NATO ships will resume their counter piracy mission earlier than planned and will make their way back to the Gulf of Aden this week.

With the great increase in pirate attacks, and the ensuing international concern, NATO’s recent contribution to the international counter piracy effort has been significant. NATO nations have revised their plan for Standing NATO Maritime Group 1 (SNMG1), cancelling their port visits to Singapore and Australia Read More…

Wilhelmsen Ships Service wins Greatship Global contract

Wilhelmsen Ships Service, the world’s leading ships services network, has been awarded a significant contract by Indian offshore company Greatship Global. The company will provide an Initial Supply package to each of five offshore newbuildings being undertaken by Greatship. These include a new drillship being delivered at Keppel Shipyard, Singapore and four anchor handling tug supply oil rig support (AHTS) vessels in Oslo, Singapore and Colombo.

The contract is also Read More…

Keppel appoints new chairman

Lim Chee Onn will step down as non-executive Chairman and Director of the Company with effect from 30 June 2009 and will be succeeded by Dr Lee Boon Yang with effect from July 1st, 2009.

Mr Lim will, however, continue to play a role in the Group as Senior Advisor “in order that the Group may benefit from his continued guidance and support,” the company said.

The Board had, on December Read More…

Industry players urge that critical training must not be cut to save costs

Major industry players have raised significant concern over the future of the shipping sector as owners and managers seek to cut costs by freezing training, causing a potentially “huge demographic time bomb” according to The International Shipping Federation (ISF) .

Natalie Shaw, Secretary of ISF, warned that “there is still a growing shortage of officers, and this is a real danger to the industry if people cut back on Read More…

The Standard Club warns rise in stowaways is costing the industry millions

An increase in the number of stowaways as a result of the economic downturn is afflicting the industry and costing owners and P&I Clubs millions, according to a revealing report released by The Standard Club.

Causing considerable complications for the master and owner if detected only after the vessel has left the port of embarkation; the Club revealed that since 2000 it has had to deal with 982 stowaway claims Read More…

InterManager shocked and appalled by injustice of Hebei Spirit trial

InterManager has spoken with outrage against reports emerging from Korea indicating that the Master and Chief Engineer of the Hebei Spirit have not been absolved following a further trial at the Korean Supreme Court.

Guy Morel, General Secretary of the international trade association for in-house and third party ship managers, has expressed utter infuriation at the news: “Enough is enough! These two dedicated seafarers have been held for more Read More…

Give seafarers back their dignity

Seafarers should be afforded the same dignified status as airline pilots and be given one passport and visa that says they are seafarer officers and which allows them the freedom to leave and return to their ship in port, said Peter Cremers, Chief Executive of Hong Kong-based manager Anglo-Eastern.

“My seafarers say to me that if they are in an airport and have to join a ship then Read More…