The proliferation of the Private Maritime Security Company (PMSC) in the merchant maritime domain has been succeeded by substantial measures toward greater regulation, providing detailed provisions regulating the operation of PMSCs and deployment of Privately Contracted Armed Security Personnel (PCASP) on board merchant ships transiting the Gulf of Aden.
In yet another game-changing trend, the Carribean crude oil route appears to be exhibiting signs of major shift, once again forcing tanker owners who are active in the region to rethink their chartering strategies. According to a recent report from analysts Poten & Partners, "Caribbean crude oil has historically been a main feedstock for US Gulf Coast refineries. However, the
Preliminary figures show that 2013 was, like 2012, a year of stagnation in terms of LNG trade growth. Although two new liquefaction plants came on stream, in Angola and Algeria, output from several existing facilities slumped and worldwide movements of LNG in 2013 dropped a few percentage points from the 236.8 million tonnes (mt) traded the previous year. For a
IMO audit teams will shortly be established to verify construction rules for bulk carriers and oil tankers of classification societies which act as recognized organizations (ROs), following the receipt of requests for verification by the 31 December 2013 deadline. A new SOLAS regulation II-1/3-10 on Goal-based ship construction standards (GBS) for bulk carriers and oil tankers was
With the New Year now underway, owners of container ships will be looking towards further growth strides of the global trade, which could very well be underway, as the latest positive trends in macroeconomics, especially in the US and Europe have put consumer confidence on a rising trend as well, all of which bodes well for the container shipping industry. In a recent report,
A number of amendments to the International Convention for the Safety of Life at Sea (SOLAS), the International Convention for the Prevention of Pollution from Ships (MARPOL) and the 1988 Load Lines Protocol entered into force or took effect from 1 January 2014. The amendments cover passenger ship safety (in relation to safe return to port after a flooding
In December the reported criminal activity against shipping was one of the lowest in 2013. Two crew members have been abducted near Nigeria on 18.12. and there is no news on them in public media since then. Probably the negotiations over the ransom are ongoing. There were also two serious attempts of hijacking in Gulf of Aden on 09.12.
In the tanker ship owning business these days, it's all about micromanagement, cost cutting, improving efficiency and taking small steps at a time, especially when it comes to undertaking a chartering strategy, which will enable the owner to increase his company's profitability. For the most part, this is going to be the case during 2014, with a series of crude
Those old enough to recall the general cargo ships which operated liner services to all parts of the world will remember the inordinate amount of time and effort spent in “cargo care”. Huge fortunes were spent on dunnage and Kraft paper and the supervision of stowage was the pre-eminent role of the deck officer with the ship alongside. The “art and science” of good stowage and securing
In November 2003 a Beijing industrial and trade company imported 10,000 tons of bulk sulphur from the United Arab Emirates under cost and freight terms. The goods were carried from Ruwais, United Arab Emirates to Xin Gang, China by a ship belonging to a Maltese marine company. The Beijing company took out an insurance policy for the goods against all risks amounting to
To begin with, The Hellenic Shipping News Worldwide team would like to wish you all a Happy and Prosperous 2014! We begin the New Year with our first analysis on the dry bulk market. The dry bulk market managed to reach multi year highs over 2013, with the final fourth months of the year, reminiscing of a healthier market. The Baltic Dry Index (BDI) ended the
During ship operation, fouling decreases the performance of hull and propeller, leading to significantly higher fuel consumption. The added fuel penalty due to declining hull and propeller performance may reach the staggering heights of 80-90%. This problem is widely known, but the demand for more accurate quantification and level-field comparison
has grown in the wake
We refer to our circular no. B.613. As stated in that circular, every tank vessel and every other vessel over 300 GT is required under State law to file a contingency plan prior to entry into the waters of Washington State but that instead of filing his own plan an owner can subscribe to an umbrella oil spill contingency plan. Since publishing the abovementioned
One thing that was apparent in the sale and purchasing markets during 2013 was the ship owners' larger appetite for vessel acquisitions, as most sought to take advantage of low prices, while those were still valid. In its latest weekly report, shipbroker Intermodal, noted that so far in 2013, there've been more than 1,500 deals concluded for an investment
Another year and another conference on the ECDIS Revolution took place in London at the end of November. It was a well-attended, well supported and well provisioned affair, professionally organised and timely as ever in decoding the issues around digital navigation. Except that in this latest iteration, the ECDIS Revolution has become the e-Navigation
The Ministry of Infrastructure recently adopted a new version of the Regulation on Procedures for Registration of International Shipping Lines operating in Ukrainian ports (Order 790, October 14 2013). The amendment of the regulation was a logical step in the ongoing port reforms and reallocation of functions to the Administration of Sea Ports of Ukraine
It's been a rather turbulent 2013 year for tanker owners, one which can be summarized in the following key wordings: oversupply, weak freight rates and continued poor earnings. Of course, there have been bright spots, like for instance in the Medium Range Product Tanker markets, but all in all, the year won't be one to be remembered. According to a recent
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.
Cost saving is the only game in town now for carriers. They have lost the ability to positively influence freight rates and are now competing on economies of scale by acquiring big new ships and by entering into large vessel sharing agreements. It is no surprise that the two most profitable carriers are also the biggest. Counterintuitively, Maersk and CMA CGM also happen to be two
Chinese ship owners have scaled back their ship purchasing activity as the year nears its end, with the total S&P activity recorded, deemed on a slower pace than the one noted in the first half of the year. According to a recent report from shipbroker Intermodal, most Chinese owners are of the notion that market prices will soften after the Chinese New Year,