The Marshall Islands Registry (RMI Maritime Registry) has kept growing steadily over the course of the past year, continuing its trend of attaining No1 status among the Greek ship owning community. In an interview with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), Mr. Theofilos Xenakoudis, Director, Worldwide Business Operations, Managing Director-Piraeus, Greece, International Registries, Inc., talks about its potential, the overall trends witnessed in the shipping market and the challenges lying ahead. In terms of performance, how did 2015 fare for the Marshall Islands Registry, compared with previous years and which were ...

DMCA (Dubai Maritime City Authority) is no stranger to Greek owners, as the Dubai-based maritime cluster has been making huge strides over the past few years, in its attempt to lure ship owners, both from Hellas as well as other locations. In an interview with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), Mr. Nawfal Al-Jourani, Director of Communications of DMCA noted that Dubai offers both a stable and investor-friendly business environment, attractive taxation, as well local expertise as more than 3,000 maritime business related services companies are currently operating in the country. ...

Parker Kittiwake has been in the business of monitoring emissions for quite some time now and certainly years before the latest initiatives undertaken by the EU. As such, its opinion matters, given the expertise acquired over the year. Speaking with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), Mr. Larry Rumbol, Market Development Manager (Marine) with Parker Kittiwake noted that the lack of standardization process with regards to the latest MRV rules set forth by the EU, is setting the industry up for more confusion. It’s also worth noting the huge satisfaction that ...

In an interview with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), Michael J. Mitsock, Vice President of Marketing with KVH Industries, noted that a large number of older vessels up to 15 years old, estimated at 40,000-50,000 globally, are currently running outdated systems, in an era when most owners are looking to the cost optimization solutions that the latest high bandwidth technologies like VSAT can provide. Looking ahead, the company will be exploring options to make use of bandwidth to help shipowners optimise their operations, said Mr. Mitsock said. Some recently announced ...

The latest MRV rules on measuring ship emissions is among the issues mystifying people here in Posidonia. Verifavia Shipping has been holding workshops on a daily basis to help owners and interested parties understand the importance of pre-emptive action as new rules are gradually being set in place gradually. According to Mr. Julien Dufour, CEO of Verifavia Shipping and Mr. Nikolas Theodorou Managing Director at Verifavia Shipping, who spoke with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com) the company is ready to offer tangible and accurate emissions readings for all ship owners ...

Ship owners are actively upgrading to newer systems with a high demand being evident also in the VSAT markets, says Mr. Tore Morten Olsen, President Marlink Maritime in an interview with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com). According to Mr. Olsen, one of the keys for the future is the consolidation process which has been going on in the shipping market. “This will enable us to provide higher standardization of our products to a whole fleet, instead of individual vessels and offer more cost-efficient solutions to the market”, said Mr. Olsen. ...

Higher bandwidth and better connectivity is the focus of Iridium’s new service offering, which will roll out in the second quarter of 2017. Speaking with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), Mr. Brian Pemberton, Vice President & General Manager, Aviation and Maritime Business at Iridium, provided a useful insight on Iridium’s plans for the future. According to Mr. Pemberton, Iridium is currently in process of becoming compliant with Global Maritime Distress and Safety System (GMDSS), while also it’s actively working towards securing its products from potential cyber threats, as it is ...

Speaking with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), Mr. Jorje Quijano, Panama Canal Administrator discussed the final details ahead of the official launch of the new, expanded Panama Canal. According to Mr. Quijano, today will mark the final trials of the new Atlantic locks, with a Capesize owned by Golden Union, the company which is headed by the President of the Union of Greek Shipowners, Mr. Theodore Veniamis. Also, Mr. Quijano noted that the first vessel to do a full cross of the Panama Canal will be a Cosco-owned neopanamax container ...

From a ship owner’s point of view, being able to monitor and manage all of his ships’ operations, while they are at sea, is an invaluable tool, in making informed decisions about their employment, their procurement needs, safety, fuel needs etc. It can also be of service, when it comes to evaluating the performance of specific upgrade components, as well as a particular newbuilding design. As such, the presence of a powerful monitoring tool is of paramount importance, as it can help reduce operating costs, prevent potential damages and help ...

The dry bulk market will keep on suffering, at least until the start of 2017 and possibly well after that, should the current balance of supply and demand remain without any significant change until then. In an interview with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), BIMCO’s Chief Shipping Analyst, Mr. Peter Sand notes that with the BDI currently hovering around 400 points, the market is still far below a sustainable level. According to Mr. Sand, it’s worth noting that despite of the record amount of tonnage already scrapped since the start ...

Today’s freight market is more than challenging to say the least. Besides freight rates, though, a ship owner has to take into account various other elements, such as regulatory changes and other cost increasing factors. In order to increase a ship’s life span, reduce maintenance costs and save millions of dollars down the line, owners can take advantage of the various condition monitoring services, from the likes of companies like Parket Kittiwake, which, in essence, act as an “always on” device, looking after critical parts of a vessel’s operation. Hellenic ...

The dry bulk market is caught between a “rock and a hard place” at the moment, as the world economy’s growth is lower than anticipated, hurting demand, while at the same time, the dry bulk segment is still riddled by chronic tonnage oversupply. As such, ship owners of larger bulkers, like Capesizes could soon opt to layup part of their fleet, or even scrap vessels of just 15 years old, as there is no credible anticipation of a market rebound anytime soon. This, according to Mr. George Goudromichalis, Managing Director ...

A few weeks back, Boskalis, Wartsila and GoodFuels Marine announced the formation of a joint-venture which will look into the commercial viability of biofuels in the shipping industry. According to GoodFuels Marine’s estimates, by 2030 sustainable biofuels could contribute 5-10% of the total global marine fuel mix. Hellenic Shipping News Worldwide (www.hellenicshippingnews.com) interviewed Mr. Dirk Kronemeijer, CEO, GoodFuels Marine, on this ambitious, yet feasible, project, which could help wean shipping from the use of fossil fuels, thus eliminating once and for all the issue of reducing the industry’s emissions. Timing ...

Determining a ship’s future value can be an invaluable trait for any ship owner, as it can be the main factor between his success or failure. For example over the past 12 months, as per VesselsValue’s data, Aframax and Suezmax tankers are the winners of the current market’s upwards momentum, with an increase in value of approx. 22% over the last 12 months. By contrast, 15 year old Capesize’s have fallen almost 60%, while 15 y/o Panamax and Supramax are down 50% and 15 y/o Handy’s are down 40%. Modern ...

What’s the current position of the Liberian Registry among the Greek-controlled fleet? The Liberian Registry is the second largest –and fastest growing – ship registry in the world, behind only Panama. Michalis Pantazopoulos, Senior Vice-President and General Manager of the Liberian International Ship & Corporate Registry (Hellas) SA in Piraeus, told Hellenic Shipping News, “Other registries may choose to interpret the figures to their own advantage, but the facts are indisputable. Statistics recently released by the Greek Shipping Co-operation Committee (GSCC) and by Marine Information Services show that Liberia has ...