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Ton mile demand on the rise in the tanker market, while slow steaming is the new norm

With VLCCs and Suezmaxes emerging as the most sought after tanker classes from ship owners this year, the focus has shifted away from product tankers, which were the "stars" of the first half of last year. According to Mr. Patrick Tye, Head of Research of Gibson Shipbrokers, nearly 300 product tanker orders were placed last year, versus just 62 crude tankers, but in

Dry bulk market to improve over the course of 2014, but oversupply still an issue says BIMCO's Chief Shipping Analyst

As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slow steaming and other cost saving measures, will lead to the market's rebound. Speaking with Hellenic Shipping News Worldwide in an exclusive interview, BIMCO's Chief Shipping Analyst, Mr. Peter Sand,

WA piracy will remain a headache for ship owners in 2014; AIG offers special insurance package to deal with hijackings

Nigeria will remain a serious piracy hot-spot in 2014, as the country still resists the allowing of non-Nigerian armed guards on board vessels plying its waters. This according to Mr.Alex Kemp, Managing Director with NYA International, a specialist crisis prevention and response consultancy, who spoke with Hellenic Shipping News Worldwide.

UPS, a leader in global shipping, takes aim at the world's maritime industry

UPS is looking to establish long-term ship supply services in the maritime industry, through its extensive network of service around the world. As the company's executives put it: "We transport everything from small documents to aircraft engines by ground and air at whatever speed is required around the world". As such, the company has invested billions in order to

Wilhelmsen Ships Services: MLC full compliance expected during 2014, with an estimated 40,000 ships being affected

A range of issues are now pressing the global shipping industry, from new conventions entering into force, like the Maritime Labour Convention and the Ballast Water Treatment one, while at the same time a more diligent approach is needed to maintain safety onboard modern vessels. As one of the leading ship services company, Wilhelmen Ships Service is providing ship

Hellenic shipping companies are investing in their competitiveness, enhancing their contribution to the economy

A few days back, leading consulting group BCG presented its research on the Hellenic shipping industry's contribution to the local economy. The findings are rather impressive as it was shown that the shipping industry represents over 7% of the GDP, accounts for 165k to 200k jobs impacting over 500k people. In an exclusive interview with Hellenic Shipping News Worldwide,

Capesize rates will peak this year well above the current level

This latest surge of the dry bulk market, which has brought it to two-year highs, has been led by the Capesize segment, as a result of low tonnage availability and high cargo demand from China says Jeffrey Landsberg, managing director of US-based Commodore Research & Consultancy, in an exclusive interview with Hellenic Shipping News Worldwide.

Marshall Islands Registry firmly establishes itself as a major flag-state with growth in new shipping markets

The Marshall Islands Registry has firmly established itself as a major flag-state which offers a comprehensive set of services and maintains a global presence. It's also among the top five registries of choice among Hellenic ship owners. In an interview with Hellenic Shipping News Worldwide, Mr. Theofilos Xenakoudis,

Tonnage oversupply to overpower other boosting factors in the dry bulk market

Many analysts have advocated that the dry bulk market is heading towards a moderate recovery starting from 2014 onwards, as a result of improving demand, continuous scrapping of older dry bulk carriers and a less than overwhelming outstanding newbuilding tonnage. But, according to Mr. Yannis Pachoulis, head of shipbroker MegaChart and former President of the Hellenic

Latin America, Africa and many parts of Asia are the new "ports" of growth says APM Terminals

Today's ports are facing multiple challenges, from improving infrastructure to handle larger vessels, to "must-have" gains in productivity, the list goes on, not to mention the need to have a responsible environmental policy. APM Terminals' CEO, Mr. Kim Fejfer discusses all of the above in an exclusive interview

Dry bulk market rebound may take longer than expected

Although 2013 is expected to fare better than 2012, in terms of dry bulk freight rates, it will still take the market a while, before it gains some solid ground under its feet, said BIMCO’s Chief Shipping Analyst, Peter Sand, in an exclusive interview with Hellenic Shipping News Worldwide. He cited the heavy overhang of tonnage as the main reason for this, despite the fact

Picking the right ship is the key for tanker owners

Medium-range tankers and Aframaxes are the most sought after vessel types in the tanker market today, as a result of the positive prospects they both offer to ship owners, as they are the least likely segments to suffer from tonnage oversupply issues. In an interview with Hellenic Shipping News Worldwide

Cheap ship valuations don't necessarily mean attractive says VesselsValue

With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as attractive. But is this really the case, when taking into account other factors, like for instance freight rates? VesselsValue's Adrian Economakis, Strategy Director with the company describes the current and future trends of the ship valuation market. VesselsValue' service has been

Product tankers to offer better prospects than their crude hauling counterparts says Gibson Shipbrokers

In an interview with Hellenic Shipping News Worldwide, Mr. Steve Christy, Director with Gibson Shipbrokers Consultancy & Research, noted that a series of changes in oil trade patterns, coupled with market fundamentals of supply and demand, are expected to provide added boost in the clean product tanker market trade, rather than the crude tanker markets. He also mentioned that demolition activity is set to keep

LNG ship fuels are gathering momentum, in shipping industry's effort to reduce harmful emissions

In a multi-tier market that differentiates between vessels based on their efficiency, the newly bred "Eco-Ships" will result in significantly improved employment opportunities and earnings for these energy optimised vessels, says Mr. Athanasios Reisopoulos, Vice President, Area Office Southern Europe of Germanischer Lloyd Hellas M.E.P.E. In an interview with Hellenic Shipping News Worldwide, Mr. Reisopoulos

Reducing bunker costs requires a holistic approach

When it comes to the rising costs of bunkers, ship owners are often presented with a variety of solutions and choices, both in terms of technology available and in terms of use of new tools. In an interview with Hellenic Shipping News Worldwide, Camille Egloff-Ghicas, Partner and Managing Director in BCG (Boston Consulting Group) Athens and leading the BCG Shipping practice in Hellas, noted that bunker costs are the single

Ship prices to bottom out in 2013 says George D. Gourdomichalis

Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a whole predicted to bottom-out next year, creating the ground for a rebound later on. In an exclusive interview with Hellenic Shipping News Worldwide, Mr. George D. Gourdomichalis, Managing Director of G. Bros Maritime S.A. talks about the dry bulk market's potential in 2013,

LPG shipping segment enjoyed healthy rebound in 2012 says StealthGas head, Harry Vafias

Fuel efficient ships, or so-called "Eco Ships" will slowly but steadily gain more and more market share, at least as long as the oil prices stay at high levels. In an interview with Hellenic Shipping News Worldwide, Harry Vafias, CEO of StealthGas and the Vafias Group (active in five different shipping markets), talks about the revival of the LPG shipping markets during 2012, the introduction of newer and more fuel efficient vessels

Gulf of Guinea is the new piracy "hotspot" says maritime security expert

As piracy is an ongoing struggle between the maritime community and navy forces on one hand and pirates on the other, a new dangerous "hotspot" has been on the rise. According to maritime security company Actus International Security (, the Gulf of Guinea is proving to be a new place for ships to take close care of and be vigilant. In an interview with Hellenic Shipping News Worldwide, the company's

Ships with armed guards have never been hijacked by pirates claims LSS - SAPU

Modern-day piracy is one of the most important issues the global shipping industry is having to deal with. Hijackings by pirates operating in vast sea areas, both in East and West Africa, in areas like Somalia and Nigeria, are always a danger vessels are faced with. In an interview with Hellenic Shipping News Worldwide, Mr. Alexandros Theodosios Kontos, Operations Manager of LSS – SAPU leading maritime security experts
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