International accountant and shipping adviser Moore Stephens says shipping companies should explore leasing opportunities as a way of adjusting their self-owned and chartered-in tonnage balance in response to the radical changes that have taken place in ship financing in recent years. Phil Cowan, the firm’s Head of Corporate Finance, says, “The traditional thinking of a [...]
The international KPI Project, started by InterManager but now an industry-led initiative, is going from strength to strength. So far, 120 companies have registered with the Project, now managed by the independent KPI Association, and KPI data is being uploaded from more than 1,600 vessels into the web-based InterManager KPI Environment (IMKE) system. To date [...]
The Liberian Registry says it is time to put an end to the outdated thinking which results in all open registers, irrespective of their safety record, being referred to pejoratively as ‘flags of convenience.’ Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the Liberian Registry, says, “Liberia [...]
Uncertainty still reigns true in the global shipbuilding sector with many factors influencing either a return to ordering activity or a continuation of the reduction in interest in newbuildings. “The best case scenario for shipbuilders is for ship finance liquidity to return and for a cut in Chinese overcapacity. There needs to be renewed interest [...]
Speaking at the opening of the IMO’s first meeting of the year, the Sub-Committee on Fire Protection, IMO Secretary-General Koji Sekimizu told delegates that it was his vision that halving lives lost at sea and eradicating pirate attacks, as well as ensuring the release of all hostages can, and should, be legitimate targets, for the [...]
International accountant and shipping consultant Moore Stephens says the banks will exert more control over the shipping industry in 2013. It also expects vessel values to fall further, and the cost of regulatory compliance to increase. Moore Stephens partner Julian Wilkinson says, “For shipping in 2012, it was not so much a case of ‘Crisis, [...]
A report by shipping analyst Alphaliner (Vol. 2012, Issue 46) reveals Maersk Line as the shipper with most vessels idled, currently 14 units with an aggregate capacity of 94,000 TEU. This development spearheads a recent surge in idling across the industry. “The idle containership fleet of above 500 TEU have swelled by 96,000 TEU in [...]
Rear Admiral Potts who is the operation commander of the European Union’s counter piracy mission (EU NAVFOR) off the coast of Somalia yesterday reminded the yachting and leisure craft community that whilst pirate attacks have reduced off the Horn of Africa over the past year, the threat of piracy remains and owners should continue to [...]
The stabilization of CO2 emissions in the shipping industry has been the burning topic at today’s CO2 and Greenhouse Gas Emissions workshop, held within the framework of SMM’s Global Maritime Environmental Congress (GMEC) in Hamburg, Germany. “The CO2 emission is a wide concern”, Torsten Schram, COO of Germanischer Lloyd, who was in charge of moderating [...]
Leon Muhammad, Director General of the Directorate General of Sea Transportation, said that Indonesia needs US$46.112 billion for port development projects until 2030. According to Bernama, the government can only provide 31.7 per cent or US$14.613 billion, while the remaining 68.3 per cent or US$31.499 billion will be from foreign investors. Leon said 26 ports [...]
