SMI Newsdesk Archives

Financial Crisis exacerbates labour unrest

The continuing turmoil in world financial markets is hitting the shipping industry in many ways, including a deterioration in onshore labour relations.

The worst financial climate seen in some 80 years, since 1929, is encouraging labour unrest in an increasing number of countries as workers strike in attempts to obtain better pay and conditions, according to The Strike Club, the mutual one-stop shop for delay cover.

The summer Read More…

FSA Solvency II reminder a short sharp shock for UK insurance industry

Leading accountant and consultant Moore Stephens says the latest guidance from the Financial Services Authority on the Solvency II regime contains some new and challenging tasks for the UK insurance industry and it warns that the governance arrangements in some sectors of the business may not be capable of reacting to external events such as the current credit crunch, and may therefore not comply with Solvency II requirements.

Read More…

India slams Korea over Hebei Spirit detentions

India has slammed South Korea for victimising innocent seafarers and called on the Seoul government to allow the Captain and Chief Officer of the Hebei Spirit to return home pending the appeal process.

India told the 58th session of the IMO MEPC meeting in London, that it “will not and cannot support the criminalisation of seafarers nor the unjust, unreasonable or unfair treatment that is contrary to the principles Read More…

New Expo Centre means Posidonia could return to Piraeus

Posidonia could be winging its way back to Piraeus after the port authority signed a €90 million agreement with a consortium of local investors and real estate developers and construction companies to build a new Expo Centre in the Palataki area of the port zone of Piraeus.

Under the terms of the agreement, the consortium, named AEAS, will build and operate the new Expo Centre. The projects will Read More…

ISSA appoints new President

Jens Olsen from Denmark will be the next President of the International Ship Suppliers Association (ISSA) after he pipped rival Rocky Rocksborough-Smith to the position in a closely fought election at the association’s annual convention in Baltimore.

In a subsequent vote, Mr Rocksborough-Smith, from Triton Marine Supply, was re-elected as ISSA Senior Executive Vice President for an additional three year term.

Jens Olsen will take over from the Read More…

Jamaica aims to train more seafarers

Jamaica is positioning itself to fill the demand for junior officers in the seafaring trade, a spin-off from the increase in world fleet, Claudia Grant, deputy director general of the Maritime Authority of Jamaica (MAJ) has said.

According to Grant, a Baltic International Council/International Shipowners Federation (BIMCO/ISF) study conducted in 2005, showed a shortage of 10,000 junior officers in that year, with the shortage expected to grow to Read More…


InterManager, the International Ship Managers’ Association which represents a worldwide fleet of more than 2,500 ocean‐going ships and some 100,000 crew, has condemned the lack of a co‐ordinated international effort to tackle the escalating piracy problem in the Gulf of Aden.

With more than 200 seafarers now being held hostage off the coast of Somalia, some of whom are associated with its members, InterManager is calling for a Read More…


Bibby Line Group has responded to its decision to end its involvement in Liverpool-based Meridian Marine Management by launching a new full-service ship management venture, Bibby Ship Management Group.

Jon Osborne, Managing director of the new company, said: “In an increasingly competitive market place, ship owners are looking for ways to optimise their own performance and consequently seeking partners who can provide the right level of expertise and flexibility. A Read More…

Rosslare beats the odds

Rosslare Europort, the only Irish port to have substantial direct ro-ro services to the Continent, is continuing with its substantial investment plans.

The port, which is wholly owned by Iarnrod Eireann, the Irish State-owned railway company, last year handled 168, 000 freight units and close to 1,100,000 passengers. Rosslare Europort’ s continental direct business actually grew by 6.1% in the first six months of this year.

According to Read More…

MOL launches new safety campaign

Mitsui O.S.K. Lines has launched a new safety campaign which will target MOL-owned and chartered vessels as well as MOL Group vessels including both ferries and cruise ships.

The main objective of this safety campaign is to promote the better exchange of opinions about measures that can reinforce safety management. The campaign is based on lessons-learned from serious marine incidents that occurred in 2006. MOL further hopes the Read More…


Moving forward with the next phase of its Expansion Program, the Panama Canal Authority (ACP) has released a request for proposals (RFP) today soliciting bids for the third of four dry excavation projects.

This dry excavation project will help to create a critical access channel that will link the new Pacific locks with the Canal’s existing Gaillard Cut (the narrowest stretch of the Panama Canal). The scope of Read More…


Pacific Basin has secured a 100% interest in Meridian Marine Management, the Liverpool based ship management and marine services company, that was established in 2003. Pacific Basin will acquire the 50% interest of its partner, Bibby from October 1st 2008.

PB Maritime Services, which encompasses the Group’s ship management operations in Liverpool, Singapore, Germany, Cyprus, Russia, Hong Kong, the Philippines and Japan states that the joint venture Read More…