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
“At the moment of the attack there were 78 people onboard and 1 million barrels of crude oil. I cannot imagine what could have happened if we did not surrender to the pirates. Human lives endangered and disastrous pollution; they had over 100kg of C4 explosive in one of the speed boats.” Piracy off the coast of Somalia is big business but the increased production of oil in the Gulf of Guinea has encouraged more acts of piracy in the region
So far this year, demolition of older vessels has been feverish, in an attempt by ship owners to help alleviate the tonnage oversupply pressures that the global shipping market has been dealing with, in almost every shipping trade, from dry bulk to tanker.
With the current newbuildings orderbook at huge levels, ship owners could very well use the expertise of consulting and services companies, which know their way around ship yards and can provide valuable assistance in all stages of a newbuilding ordering
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard Mcenery, Operations Director with Ocean Protection Services Ltd, one of the companies currently offering
Shipping is under siege in order to lower its carbon footprint. The recent decision by IMO seeks to offset these pressures and ship owners need to start preparing for a "greener" shipping. Towards this direction, Carbon Positive, a leading carbon management
The record levels of scrapping activity seen this year are going to be a catalyst for alleviating the industry's oversupply problems by balancing supply and demand says Christina Anagnostara, Chief Financial Officer with New York-listed shipowner
In an exclusive interview with Hellenic Shipping News Worldwide, the long-serving Secretary-General of the International Maritime Organization (IMO), Mr. Efthimios E. Mitropoulos, looks back at the decisions adopted by the organization during his term
In an interview with Hellenic Shipping News Worldwide, Mr. Nigel Richardson, Managing Director of Gibson Shipbrokers Ltd. Highlighted the extremely weak tanker markets "“ especially the VLCC segment "“ during the first half of the year and the reasons behind it.
One of the leading players for product tankers, TORM, sees an early recovery on the sector, on the back of lower orderbook. The company's Chief Executive Officer, Mr. Jacob Meldgaard" also said, in an exclusive interview with Hellenic Shipping News Worldwide, that the outlook for 2011
In an interview with Hellenic Shipping News Worldwide, Maersk Hellas' Managing Director, Mrs. Anne O. Gronbjerg, responsible for the Greece Cluster, including Hellas, Cyprus and Bulgaria, confirmed Maersk's estimates that the second half of 2011 will prove healthier