LR, in a ceremony at Posidonia 2018, presented Gerassimos Ventouris – Chief Commercial Officer – with an ‘Attestation’ relating to Capital Ship Management Corporation’s ‘Excellence in Ship Management and Operations’. LR was commissioned to provide independent evaluation of Capital’s fleet and corporate performance, covering operations of its managed LR classed fleet of 34 vessels (tankers, bulk carriers and container carriers) over a 5-year period, from 2013 to 2017. Gerassimos Ventouris commented: “It is with great pride and honour that I receive this attestation on behalf of the whole Capital Ship ...

Ship owners’ sentiment towards the tanker market seems to be more positive lately, at least if one takes into account the appetite for more newbuildings. In its latest weekly report, Allied Shipbroking said that it was “a very interesting week for the newbuilding market, though the focus this week seems to have been exclusively on the tanker sector, with plenty of fresh orders coming to light these past few days. It has been stated many times that the poor freight market climate and general turmoil in this sector goes in ...

The President of the Union of Greek Shipowners, Mr. Theodoros Veniamis, during the customary press conference of the Greek and foreign journalists in the context of the 2018 Posidonia International Shipping Exhibition, pointed out in his introductory speech the following: “Posidonia 2018 found our shipping industry steadfastly maintaining its leading position, both in quantitative and qualitative terms, in the international shipping ranking, having successfully met the challenges of the particularly difficult freight rate market of previous years and other challenges. At the same time, our Union, as the institutional representative ...

The world’s most prestigious shipping trade event has scaled new heights this year with an unprecedented display of the collective might and minds of a gigantic global industry which accounts for nearly 95 percent of international trade. And as the gates of the Athens Metropolitan Expo closed on Friday evening to bid farewell to the 2,011 exhibiting companies and some 22,000 visitors from 92 countries, the Posidonia Exhibition opens a new chapter in its 50-year-long legacy with an ambition to celebrate a century of achievements in tandem with the expansion ...

Greek shipowners could relocate to Britain after it leaves the European Union if European regulators demand changes to favourable shipping taxes in Greece, a top industry official said on Friday. The European Union has been pressing Greece to end generous tax allowances it grants shipowners, although the government has steered away from imposing heavy taxes on an industry that operates some of the world’s biggest vessels. “If the European Union threatens us … obviously we will look at alternative options,” Theodore Veniamis, president of the Union of Greek Shipowners (UGS), ...

Crude tanker owners are going to have to wait another 12 to 18 months for a gradual cyclical recovery, although the second half of 2018 will be significantly better than the first according to DVB Bank. Speaking at the Bimco Power Panel at Posidonia 2018, Henriette BrentPetersen, md and global head of shipping and offshore research at DVB Bank,said: “We see from 12 – 18 months from now fundamental improvement in the market, and we expect the improvement to be like what we’ve seen since 2016 in dry (bulk).” Once ...

“As the 2020 IMO sulphur cap on fuel draws closer, we have been hearing more and more from ship owners and operators who are looking for guidance on the installation and approval of systems which reduce emissions to air,” says Knut Ørbeck-Nilssen, CEO of DNV GL – Maritime. “We are very pleased to be able to offer the Emission reduction notation to our customers. This notation will enhance the transparency of the installation and approval process for owners, the yards, and class, and give owners the confidence to invest in ...

The global shipping industry’s interest is attracted by the presence of the Hellenic Centre for Marine Research (HCMR) in Posidonia 2018, the world’s most prestigious international shipping exhibition, which takes place from June 4 to June 8 in the Athens Metropolitan Expo centre. This first participation of HCMR in the world’s top shipping event emphasizes the contribution of the Centre’s multilevel scientific and operational work to the maritime sector in Greece and the wider Mediterranean region, which has a long and historic shipping tradition. In its pavilion in Posidonia, the ...

Greek manufacturers of ships equipment and space equipment are to work together to produce innovative technological solutions for the shipping industry. “We will combine forces in a bid to connect sea craft with space craft,” Athanasios Potsis, president of the Hellenic Association of Space Industry, told attendees at the Support the Local Maritime Industry Summit, yesterday. By working together, Potsissaid not only will the combination produce equipment of the highest quality, it will open the door to European funding for the ships’ equipment makers. It will also give them a ...

The UK and Greece “have a long and proud history as two of the world’s great maritime powers” which will not be affected in any way by Brexit, since the UK is “leaving the EU but we are not leaving Europe.” That was the message of UK Ship Minister Nusrat Ghani MP, pictured right speaking at a reception held at the British Ambassador’s Residence on Tuesday night during her one-day visit to Athens timed to coincide with Posidonia 2018. ‘Britain and Greece start from a unique place where we have ...

Greek Prime Minister Alexis Tsipras recently gained deeper insights into Dubai’s pioneering experience in building one of the world’s most competitive, attractive, and comprehensive maritime cluster. The top Greek official praised the world-class achievements and competitive edge of Dubai, making it at par with the world’s most important maritime and logistics centers. This took place during his visit to the pavilion of Dubai Maritime City Authority (DMCA) on the opening day of ‘2018 Posidonia Exhibition’ which held recently at the Athens Metropolitan Expo. Senior DMCA officials headed by Executive Director ...

Making its debut at the show on stand 3.507 is International Maritime Industries (IMI), a new $5.2bn mega-yard which is under construction at Ras Al Khair on the Gulf coast of Saudi Arabia. Upon completion it is claimed IMI will become the largest full-service maritime facility in the Middle East and North Africa region, competing with the largest yards in Asia. The new yard is 70% owned by Saudi Aramco (50.1%) and its most important tonnage provider Bahri (19.9%), with the remainder belonging to rig builder Lamprell (20%) and shipbuilder ...

Shipowners are set to spend an average of $2.5m on Internet of Things (IoT) solutions over the next three years based on the findings of the ‘Industrial IoT: Maritime’ report commissioned by Inmarsat. Presenting the report, Stein Oro, vp of application sales for Inmarsat said it showed that of 125 maritime respondents 65% were already using IoT solutions to monitor fuel consumption rising to 100% by 2023. The report covered a wide range of owners in terms of fleet size with 25 from Greece, 20 from Japan and 15 from ...

Azerbaijan Caspian Shipping CJSC has opened a representative office in Athens, the company said. The opening of the representative office in Athens is linked with the company’s plans to strengthen and expand the activities in international waters. The opening ceremony was attended by Charge d’Affaires of Azerbaijan in Greece Eldar Aliyev, Azerbaijan Caspian Shipping CJSC Head Rauf Valiyev, International Authoritative Classification Societies (IACS) and the staff of the CJSC . During the event, there were held working meetings in the B2B format. The Azerbaijani company discussed prospects of cooperation with ...

Just as we thought the world was calming back down to reason, worries and frictions regarding global trade resurfaced this past week after a series of impulsive and sudden announcements coming out of Washington DC. The volatile and unpredictable temperament prevailing in US politics right now has put global trade talks on a highly unstable and unpredictable track. According to Mr. George Lazaridis. Allied’s Head of Research & Valuations “the announcements on the pushing through of tariffs on US$ 50bn of Chinese imports along with the imposition of high tariffs ...