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Registries, Inc.’s Piraeus office, the Maritime & Corporate Administrators of the Republic of the Marshall IslandsΒ Registries are like a “catalogue” or a list if you’d like, where ships are registered on an international level. This means that each country chooses some ports of registry where ships are enlisted based on their type, tonnage, etc. A ship can be seen almost as a human being. It travels all over the world, it moves in coastal waters of various countries and as such, it needs a sort of “passport”, in order to ...

Harry Vafias, dubbed as the “Harry Potter” of shipping, mainly because of his relatively young age, is living up to the hype surrounding his name. StealthGas has witnessed remarkable growth in just over two years since the company went public , growing its fleet from 9 to today’s 40 vessels. The next reference point for the LPG transportation company is the number of 55 vessels by the end of 2009, according to Mr. Vafias. In his interview with Hellenic Shipping News, he goes one step beyond to state that the ...

Shipowners remain quite active in the second hand market, despite the record prices that continue to apply in most vessel types. Despite the high prices, Mr. Moutafis identifies investment opportunities in all segments of the market. For instance, in the dry side, handymax and supramax resales from reputable shipyards with good specification, such as reputable main engine with low consumption, shallow draft, gear with good lifting capacity, might turn up to be a good investment. The same applies for small chemical tankers of 10,000-13,000 dwt and product tankers. A concrete ...

Shipping emissions, freight rates and the business strategy implemented by Mamidakis Group, home to Styga Maritime and Jetoil Bunkering were some of the issues discussed with Mr. Alexandros Prokopakis, in charge of all shipping- related aspects of one of Hellas’ leading oil trading and shipping groups. Let’s start with providing us with a brief profile of shipping operation of Mamidakis Group, mainly expressed through Styga Maritime and Jetoil Bunkering. As you said, Styga Maritime is the maritime company of the Group, which has over 35 years of experience in the ...

Involved in last week’s acquisition of two resale newbuilding contracts by Xilas Group, XRTC Business Consultants has proven its value in the field of finance consulting in shipping. Mr. George Xiradakis, head of the company talks to Hellenic Shipping News about the future of the traditional shipping company, the recent developments in the market and the need of Hellas to attract as many skilled seafarers and officers as possible, given the large deficit currently observed. Furthermore, he points out to the increased cost of financing, after the recent credit crunch ...

V.Ships, already a leader in ship management for prominent shipping companies, has established a series of other services supporting its clients. Formed in 1984, the group has grown to become the world’s largest supplier of ship management and a broad range of other marine outsourcing services primarily under the V.Ships brand. This portfolio was extended in recent years to include financial services provided by V.Investments. Currently, V.Holdings is leveraging its expertise in crew management to supply the offshore industry and logistics sector via the newly established V.People. The Group employs ...

Shipping will continue to enjoy record freight rate levels for a long period of time, given the vast resources needs of countries and regions like China, India, Russia and Latin America states George Gregoriadis, Director of Finance & Research of local shipbroker George Moundreas & Co. S.A. In his interview at Hellenic Shipping News, Mr. Gregoriadis analyzes the current market fundamentals and the reasons behind today’s optimism at least in the dry bulk segment of the market. Let’s begin with the current conditions in the dry bulk market. Do we ...

Confident that shipping today offers plenty investment opportunities, appears Mr. Athanasios Samios, Managing Director of Samios Shipping Company, a 34 year old dry bulk company, that is now on the market for any potential investment, particularly in sectors like the tanker market or even passenger shipping. In his interview to Hellenic Shipping News, Mr. Samios is positive that the dry bulk market hasn’t yet reached its peak, at least for the near future, describing a frenetic demand in the market, almost for any kind of vessel and route. First of ...

Danaos Corporation, the Piraeus-based and NY-listed container shipping company, is ready for big things. With an orderbook of 30 vessels and 33 more under operation, the company is growing fast. Mr. Dimitri J.Andritsoyiannis, Vice President and Chief Financial Officer of the company points out that this growth strategy will continue at least for the near term future. Danaos has achieved very long-term charters for its new buildings, with contracts of 10-12 years, thus protecting its shareholders from any turbulence in the freight rate market. Following is the full text of ...

Through his new endeavour Alba Maritime, Sotiri Dushas, the architect behind the recent $1.1 billion deal bringing the newbuilding fleet of Anemi Maritime in the arms of NY-listed Eagle Bulk Shipping, talks to Hellenic Shipping News about the investment opportunities in today’s market. He also reveals of a new investment scheme, which will soon invest again in supramax vessels, after completing the contracting arrangements for building 24 bulk carriers, of which 12 are capesizes and 12 are panamaxes, a total investment of $1.5 billion. Alba Maritime is a relatively recent ...

Shipping has been enjoying a rather positive run during the last months, especially in the dry bulk segment. Could you highlight the principle drivers of this development? In short, it’s a case of a tight equilibrium of tonnage supply and demand. Tonnage supply is capped toexisting vessels available to trade; diminished demolitions and increased deliveries notwithstanding, the vessels that are available today or available within the very short term, i.e. six months, are not adequate to meet the available cargoes to be traded. On the demand side of the tonnage ...

Isle of Man based shipping lawyer, Robyn Wood provided Hellenic Shipping News with input about the Isle of Man ship register, especially regarding its financing services, an issue widely acknowledged as important in today’s highly capital intensive shipping industry.The Isle of Man Ship Registry is a modern registry with a strong emphasis on quality, high standards and an efficient service. It is a British Registry and as such its vessels are entitled to fly the red ensign and have access to the support of British consular services world-wide. The Isle ...

Hanjin is now participating in the new direct service from Far East to Greece announced by the CKHY Alliance. Venmar Shipping, headed by Mr.Β Antonios Venieris acting at the agent of Hanjin in Hellas, provided Hellenic Shipping News with the insight of Hanjin?s decision, as well as the broader strategy of the South Korean conglomerate regarding its activities in the Hellenic market. Which will be the exact role of Venmar in the new service? VenMar Shipping S.A. is the agent of Hanjin Shipping in Greece since 2001. Hanjin Shipping made its ...

Dimitris P.Iliou*, elected member of the B.O.D, of The Baltic Exchange talks to Hellenic Shipping News about the role of the institution in today’s booming freight rate environment. He also elaborates on the new trend, as well as the prospects of the Freight Forwarding Agreements (FFA’s) and their increasingly important role for various stakeholders in the industry. Baltic Exchange plays a crucial role in today’s maritime industry. Could you elaborate on the activities and information provided by the Baltic Exchange? Provision of freight market information including the indices which form ...

Having just returned from Houston where the 27th World Ports Conference of the International Association of Ports & Harbors (IAPH), Mr. Hiro Nagai, Assistant Under Secretary of the Association had interesting things to say. He talks about the biggest challenges port authorities face today, the congestion problems in various ports around the world, the rising trend of non-maritime related investors pouring money in the sector and the upgrading works now undertaken in major ports worldwide.Historical Background: On November 7th 1955, some 100 delegates from 38 ports and maritime organizations in ...