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
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
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
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
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
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,
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
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 (www.actussecurity.com
), 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
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
Modern day piracy is a costly issue for ship owners and many other stakeholders in the maritime industry. Although the latest report from International Maritime Bureau (IMB) has indicated that the number of attacks have been falling, it's only as a result of hefty counter measures and increased navy patrols that this has occurred. Not to mention that the fall in Somali piracy has been partly offset by the rise in piracy incidents
In a recent report, the Boston Consulting Group called for immediate action by container carriers, in order to avoid further losses, most of which were self-inflicted, as a result of price wars and intense competition. In an interview with Hellenic Shipping News Worldwide, Camille Egloff-Ghicas, Partner and Managing Director in BCG Athens and leading the BCG Shipping practice in Hellas, mentioned that only a comprehensive end-to-end
Container shipping is at the forefront of the shipping industry, when it comes to technology utilisation and automation processes. Although some companies are still under utilizing the information technology department, it's quite difficult to argue with the fact that a proper automation software has a lot to offer to container shipping, mainly towards reducing costs, increasing revenues and improving customer service.
Despite record-breaking demolition activity, especially in the dry bulk segment, shipping markets are expected to keep facing tonnage oversupply issues, which will continue to exert pressure in freight rates for the monts to come, said Mark Williams, Research Manager at Braemar Seascope Ltd., in an exclusive interview with Hellenic Shipping News Worldwide. Mr. Williams notes that the 2011 total of 25 million dwt in dry bulk
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously optimistic regarding the
dry bulk market's long-term prospects. He states that the current
downturn was expected, as more and more newbuilding vessels were
scheduled to hit the water, on the back of a huge orderbook.
With Hellenic ship owners remaining the leading ship owning group, the Republic of the Marshall Islands (RMI) Registry has continued on its solid growth path during 2011, now surpassing the 80 million gross tons mark. In an interview with Hellenic Shipping News Worldwide, Mr. Theofilos Xenakoudis, head of the Registry’s office in Hellas, said that during 2011, the Hellenic-owned fleet registered in the registry grew by 28% in terms of gross tonnage.
The answer to piracy is to be found at land said David Rider, Communications & Intelligence Officer with Neptune Maritime Security, in an interview with Hellenic Shipping News Worldwide. Although he states that, so far, no vessel with armed guards on board has been successfully hijacked, and that should say something, indeed the long-term solution to the problem of piracy is through a better education of Somalis and through a better
The collapse of the dry bulk market caught many under surprise, as the extent of the fall wasn't expected says Yiannis Pachoulis, President of the Hellenic Shipbrokers Association in an interview with Hellenic Shipping News Worldwide. He went on to mention that although demolition activity has picked up significantly, it is – by any means – not enough to compensate for the size of dry bulk vessels entering the global fleet.
The shipping insurance market is expected to continue facing significant challenging market conditions during 2012 as well, say Paul Jennings and Alan Wilson, joint managing directors of North P&I club, in an interview with Hellenic Shipping News Worldwide. The world economy is still plagued with uncertainty, making it harder for the shipping industry to recover.Still, the North P&I Club has kept its sound financial position,
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a much needed boost. Still, the oversupply haven't been solved overnight. This will take a few more years to happen, provided that newbuilding orders remain at modest levels and scrapping of older ones doesn't seize.In an interview with Hellenic Shipping News Worldwide, BIMCO's