2015 is shaping up to become a “trademark” year for Harry Vafias’ StealthGas. The company is due to take delivery of the bulk of newbuilding orders placed for 19 new generation LPG carriers. It will be a major stepping stone in the company’s recent history, which, aided by the low rate volatility market prevailing in the LPG business segment where it’s active, is due to provide huge value to investors. In an interview with Hellenic Shipping News Worldwide (www.hellenichsippingnews.com), StealthGas’ CEO, Mr. Harry Vafias noted that the company isn’t planning ...

Ship owners who have invested in high quality and younger tonnage will fare better in a dry bulk market with “normal” freight levels, noted Mr. George D. Goudromichalis, CEO of Blue Wall Shipping, which operates a modern fleet of Handy and Supramax carriers. In an interview with Hellenic Shipping News Worldwide, Mr. Gourdomichalis said that his company has placed an order for 4 Handymax vessels (43,000-dwt each), while he estimated that the market won’t experience much volatility in the coming months. On the surge of private equity investors in shipping, ...

Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such, ship owners are looking at a variety of factors, when they pull the trigger on new acquisitions, whether these are newbuildings or existing carriers, especially in today’s challenging market conditions, when a wrong business decision is often hard to recover from. In an exclusive interview with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), VesselsValue’s Director of Analytics, Mr. Kaizad Doctor, provides a very useful insight into the process of evaluating ships’ prices, while ...

Alfa Laval, the Swedish-based industrial group with a strong presence in marine products, like ballast water systems and scrubbers, opened its new Alfa Laval Hellas certified service centre. According to Mr. Nish Patel, regional executive Vice President of the company, “Alfa Laval in Greece has increased its presence and volumes during a time of crisis and will continue to do so. The opening of the new certified service centre and refurbished offices, is the confirmation of our belief in the Greek market.” In an interview with Mr. Patel, Hellenic Shipping ...

The dry bulk market is bound for a recovery in the coming weeks, as the market will be better balanced, said Mr. Michael Bodouroglou, Chairman and CEO of Paragon Shipping, in an interview with Hellenic Shipping News Worldwide. Mr. Bodouroglou attributed the lacklustre performance of the market since the start of the year to a high level of newbuilding deliveries and a slowdown of grain and iron ore trade. In terms of Paragon Shipping’s fleet growth, Mr. Bodouroglou expressed the view, that, at the moment, it makes more business sense ...

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 the first fewmonths of 2014, owners have ordered 20 VLCC’s, versus just 29 product tankers, a complete reversal over last year. In an interview with Hellenic Shipping ...

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, noted that lower freight rates over the first couple of months of 2014, were to be expected, but as 2014 moves forward, things will begin to improve. “On the average freight rates levels we have ...

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. As such, one of the world’s leading insurance groups, American International Group Inc. (AIG) is tailoring its offerings to provide a full solution package to handle piracy incidents. The company recently presented in a special event in Athens, its offering, ...

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 upgrade its network and being able to offer maritime companies the opportunity to have the capability to be both responsive and reliable when responding to fleet supply needs. According to Iulia ...

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 owners worldwide with a vast array of services on every conceivable area. Hellenic Shipping News discussed with WSS’ Business Director Marine Chemicals, Mr. Bernd Hans Bauer and Business Director Safety Mr. ...

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, Camille Egloff-Ghicas, Partner and Managing Director in BCG (Boston Consulting Group) Athens and leading the BCG Shipping practice in Hellas, says that the rate of competitiveness of Hellenic shipping companies is ...

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. According to Mr. Landsberg, Capesizes will peak well above today’s peak levels. The shipping analyst had accurately predicted back in 2011that the next upward cycle of the dry bulk market, would occur by the second ...

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, head of the Registry’s office in Hellas, talks about the Registry’s presence in Hellas and internationally, as well as its growth plans. He also informs us about the latest developments from a regulatory point of view. How has the 2012 year progressed ...

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 Shipbrokers’ Association, “there are still issues with the financing of contractual letters of credit, necessary towards assisting global trade growth and as a result helping the shipping market reach higher freight rate levels”. He ...

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 with Hellenic Shipping News Worldwide. Mr. Fejfer, a member of the Maersk Group for the better part of two decades and CEO of APM Terminals since June 2004, recognizes development opportunities in many parts of Asia, Latin America and Africa, where Nigeria ...