Thursday, September 24, 2009
We have moved to use the maritime network to set-up a self-supporting system for young professionals .
The key in supporting young professionals from all over the world is setting-up new training concepts in cooperation with training facilities on shore and berths for practical training on board commercial ships.
We believe in the empowerment of young talents to take responsibility for their own training . Essentially the Student Empowerment Facility is a financial back-up system for young professionals. The young professional is able to choose and finance his personalized education program.
From an educators point of view you know too well that increasing enrolment at the shore based end is only half the solution- obtaining end to end training and sea time for professional is critical to a the individuals success in the industry.
The facts are that the following factors exist:
· Global shortage in qualified personal.
· A pool of young people who would like to work in the maritime
· Existing high quality shore-based training-facilities for
theoretical and practical training ( Such as AMU)
>From an Australian perspective with 35 vessels flying the Australian
flag and very little representation in Ship Ownership Australian students access to sea going berths is drastically reduced , At the same time internationally the bottlenecks to satisfying the demand are :-
· Funding system for young students without collateral.
· Preselecting process standard for students ( Reducing Wastage
· Lack of training berth for practical training on board ships (
Access to timely training berths)
· Trainer access for students during their practical training on
board ships ( Ensuring Training Standards and reducing lead time to
We look to Industry , institutions and individuals who share a common interest in the development of personnel for the Marine Industry .
The aim of the mandatory IMSBC Code is to facilitate the safe stowage and shipment of solid bulk cargoes by providing information on the dangers associated with the shipment of certain types of cargo and instructions on the appropriate procedures to be adopted.
The IMSBC Code may be applied now on a voluntary basis, and the new edition is recommended reading for all concerned with the standards to be applied in the safe stowage and shipment of solid bulk cargoes, excluding grain.
The IMSBC Code includes:
- Fully updated individual schedules for solid bulk cargoes
- New individual schedules for such cargoes as direct reduced iron fines, spent cathodes and granulated tyre rubber
- New provisions about sulphur
- References to the most recent SOLAS amendments
- Relevant updated information from the 2008 edition of the International Maritime Dangerous Goods (IMDG) Code
This publication presents additional information that supplements the IMSBC Code, including the Code of Practice for the Safe Loading and Unloading of Bulk Carriers (BLU Code) and Recommendations on the safe use of pesticides in ships applicable to the fumigation of cargo holds.
Wednesday, September 23, 2009
22 Sep 2009
GERMAN shipping banks and shipowners may be able to avoid crippling asset writedowns following approval of the new Hamburg Ship Evaluation Standard by PricewaterhouseCoopers. The formula for the calculation of a ship’s long-term asset value (LTAV), which takes into account charter employment, market prospects and historical asset prices, represents an alternative approach to value assessments. As a discounted cash flow method, it arrives at more conservative values than the extreme highs and lows recorded in the sale & purchase markets during booms and slumps. The deviation from traditional spot value assessments tends to be within a 15% corridor, the Hamburg Shipbrokers Association said. Banks and owners can use the scheme to back up higher ship value estimates than seen in recent ‘fire sales’ concluded under abnormal market conditions. Loan-to-value ratios on well-performing vessels can be kept under control under, averting covenant breaches. A survey by PricewaterhouseCoopers presented in Hamburg today found that the LTAV formula is a plausible and appropriate tool. Details of the standard, including forward interest rate curves and forecast periods, have been revised since its first introduction in February, to comply with German accounting standards. Both HSH Nordbank and Deutsche Schiffsbank have declared their intent to apply the formula for fleet valuations.
Tuesday, September 22, 2009
THE KG model has long looked to be the weakest link in the newbuilding financing fiasco. Up until recently, bankers have been afraid to add pressure, for fear of making the situation worse.
That may be changing. Klaus Stoltenberg, head of shipping and aviation at German bank NordLB, speaking at a conference in Hamburg last week, enunciated the banks' dilemma in stark terms: "Basically, we want to keep projects alive but we need adequate rewards," he said.
The KG financing scheme now seems like the kind of daft idea that could only be invented in the easy money atmosphere of a market bubble. KG houses collect money from small investors to finance a newbuilding via equity, covering about a third of the cost of construction, with the remainder financed via a mortgage underwritten by a bank. But because of a mismatch in timing common in financing new ships, the vessels are usually ordered before the KG houses collect the money. Banks make up for the gap by offering bridge loans.
Those loans are becoming very hard to justify, as the value of ships has declined in the crisis. Mr Stoltenberg offered an example of a loan for a fictional 5,300 teu container ship ordered in 2006 to be delivered in 2009. Capital required to be regulated under the Basel II regime would amount to about €481,000 ($710,000) in 2006. But if the vessel is delivered this year and cannot find employment, the capital required on a bank's books would be 25 times that much.
The reckoning due is not unlike the collapse last year in derivatives contracts based on underlying mortgage values, although the overall value, of course, of the KG market is much smaller. But similar to the situation with banks and CDOs, unsupported leverage was extracted out of an underlying deal involving private investors. And the ultimate outcome, when the dam breaks, may require a political solution.
Banks are as guilty in this cycle of virtue-less finance as the KG houses, and arguably, the small investors themselves. Yet, they are not villains for stating the reality that the business has become untenable. It's a relief that, via Mr Stoltenberg's comments, they are asserting common sense.
Certainly, drawing the line will be painful, but without the pain, a solution can never emerge. A zombie KG market is more damaging to the industry than one in which the parties begin to address their wounds
Wednesday, September 16, 2009
Tuesday, September 15, 2009
Shipping - without the protection of regulation and capacity control and with no ability to attract govenment or other subsidies - has had to bear the burden of volatilty and risk ridden investments
If ,it doesnt kill you they said- It would make you stronger-
We wish all our colleagues well
Saturday, September 12, 2009
Japan's Mitsui O.S.K. Lines, Ltd.(MOL) says it has formed the concept for its next-generation vessels, which will be technically practical in the near future, by building on and refining technologies it has already developed and adopted.
The first is a next-generation, environment-friendly car carrier. MOL continues to work on concepts for other next-generation vessels such as ferries, bulkships, tankers, and containerships. MOL has named the concept car carrier "ISHIN-I (ishin one)," which stands for "Innovations in Sustainability backed by Historically proven, INtegrated technologies."
Main features are:
While in port, and during loading and unloading: Achieve zero CO2 emissions
Further develops the use of renewable energy for conventional car carriers. Realizes zero emission goal by adopting large-capacity solar-power panels and rechargeable batteries.
Under way: Reduce CO2 emissions by 50%
Adopts multiple new technologies to greatly reduce the vessel's burden on the environment. The ship achieves a 41% reduction in comparison (per unit) to conventional vessels with a capacity of 6,400 cars. CO2 emissions can be reduced by 50% on the larger capacity vessels envisaged for the future.
MOL has a special dedicated site explaining the concept in more detail. It's in Japanese only, but there's neat animation that's worth a look.
Thursday, September 10, 2009
Wednesday, September 9, 2009
Sent via BlackBerry® from Vodafone
Wednesday, September 2, 2009
· A system to reduce coal ship queues off Newcastle has been thrown into disarray with approval for an interim agreement between coal companies being revoked by Australia's competition watchdog ACCC
· Global steel production was down 19.9% to 652.9 million tons for the first 7 months of 2009 compared with the same period a year ago. North America posted a 41.6% fall in year-to-date steel production while European production reduced of 42.1% during the same period
· The time charter rates for cape size ships, are expected to reduce about 50 per cent from the current price of $38K USD a day to low 20K. OECD predicts a 16 per cent drop in world trade for all of 2009.