SMI Newsdesk Archives

Industry urges shipbuilders to focus on quality

Some of the maritime industry’s leading practitioners have urged global shipbuilders and suppliers not to let the current shipping boom distract them from what must remain their top priority: the construction of quality vessels.

The comments, made at the 7th annual meeting of Lloyd’s Register Asia’s China National Committee (CNC), came as global shipbuilding capacity was set to eclipse 50 million compensated gross tons next year, raising concerns Read More…

Middle East insurance suffers from competitive forces

Stiff competition within the marine sector has left many insurance companies in the Middle East complaining about what they see as unfair play, with some industry sources even warning the issue could destroy the market.

According to local press reports, insurers claim that while trade volumes and ship capacity continue to increase, premium rates in the market have remained flat due to the ongoing competition – and there Read More…

Canal expansion pic of the day

The Norwegian Cruise Lines’ Pride of Aloha transits along the Panama Canal, while the first dry excavation project of the waterway’s expansion programme plows forward on Paraiso Hill. As of May 31, the material excavation and removal work on the hill located north of the Pedro Miguel locks, was estimated at approximately 50% of its completion. Additionally, cruise transits increased by 34.7% during the second quarter of the Read More…

Wilhelmsen challenges the established management fee system

Wilhelmsen Ship Management is to challenge the established management fee system by moving away from a lump sum basis in favour of charging for individual services within the total management service chain.

The move, which was put in train by outgoing Wilhelmsen Ship Management President Geir Sekkesaeter and will be continued when he has left and a new successor has been found, is a new direction for the Read More…

UGS pledges support for global CO2 solution

Greek shipowners have reinstated their intention to follow the directives of the International Maritime Organisation (IMO) on issues pertaining to environmental regulations and have emphasised their decision to work hard so that any new policy will be fully embraced by the global maritime community.

The IMO should be the sole body authorised to dictate environmental policies for the shipping industry which will be adhered by Greek shipowners, according Read More…

Posidonia 2010 – Piraeus or Glyfada?

Posidonia’s organisers are still uncertain where the 2010 event will be held and while there is a desire to move back to Piraeus, there are still no guarantees that a venue capable of accommodating an exhibition the size of Posidonia will be secured.

Themistocles Vokos, Chairman of Posidonia Exhibitions, said he wanted to move the event back to Piraeus but only as and when the infrastructure was in Read More…

Credit crunch – what credit crunch!

Leading tanker owner Peter Georgiopoulos is confident there is still money available for fleet expansion by the larger well capitalised owners but the credit crunch could be biting for lesser quality owners.

Speaking to SMI at one of the Posidonia parties, the General Maritime boss was hopeful this would create a divide between the ‘haves and the have nots’. “Hopefully this will happen and the effect will be Read More…

DNV launches CO2 roadmap

A shift from traditional fuels to natural gas is necessary if the shipping industry is to meet expectations of substantial reductions in CO2 emissions, according to DNV COO Tor Svensen

Launching its road map for how the shipping industry can reduce its CO2 emissions, he said: “Only a common effort of the industry can keep regulators from imposing damaging new requirements on shipping to achieve environmental improvements.

“The Read More…

Greece checks Brussels’ regulatory card

Greece has reiterated its claim that current negotiations on two outstanding issues relating to the third maritime safety package ‘hold no added value’ and it has urged that any future regulatory initiatives should be conducted so the purpose is achieved with minimum side effects.

It also added its support to the claim that EU member states should retain their sovereignty when debating at the IMO rather than agreeing Read More…

Lloyd’s Register readies shipping for “seafarers’ bill of rights”

Lloyd’s Register has developed a voluntary assessment programme designed to support the practical implementation of the forthcoming ILO Maritime Labour Convention (MLC, 2006) on new and existing ships.

Not yet mandatory, the MLC, a significant development in international shipping described as a ‘bill of rights’ for maritime labour, is expected to come into force by 2012. But ratification may take place even earlier.

The convention has been drafted Read More…

Posidonia shines as Greece turns on the heat to lure its owners back

Greek Prime Minister Kostas Karamanlis was the most prominent of the invited VIPs as Posidonia 2008 opened its doors to the world’s shipping industry.

And he used the occasion to press home Greece’s eagerness to lure home the large number of London-based Greek ship owners who have become disillusioned with the British government’s recent non-dom tax reform plans.

Addressing invited guests at the opening ceremony, Mr Karamanlis said: Read More…

Top two managers to set up in Dubai

V.Ships and Bernhard Schulte Shipmanagement have agreed to open offices in the much heralded Dubai Maritime City as Dubai steps up its efforts to attract managers and owners away from established maritime clusters like Cyprus.

John Ewing, Chief Commercial Officer at the Dubai Maritime City, told SMI that the world’s top two ship managers had agreed to open up a small presence to begin with but they would Read More…