Monday, September 16, 2013

World Maritime Day 2013:

Sustainable Development: IMO's contribution beyond Rio+20

The theme was chosen in order to focus IMO's efforts during 2013 on carrying out the commitments made at the UN Conference on Sustainable Development, better known as Rio+20, held in June 2012 in Rio de Janeiro, Brazil.


World Maritime Day 2013 will be observed during the week of 23 to 27 September.


The text of the World Maritime Day message from the Secretary-General of the International Maritime Organization, Mr. Koji Sekimizu can be downloaded here.





HSH Nordbank is likely to unload 20 more vessels from its portfolio – of tankers and containerships in batches of 10 . Average ship values at 30 Million with deal terms similar to deals done like the Navios deal in April.

Meanwhile Bloomberg reports that  U.S. natural-gas supplies is leading to increased demand for Chemical carriers for US_Asia trades seeing Time Charter values in excess of 14500 USD per day for 20000 DWT vessels

Costa Concordia Salvage The unprecedented operation, which was delayed by several hours by overnight storms, began this morning (local time) after a maritime exclusion zone was established around the site. Salvage co-ordinators estimate the lifting could last up to 12 hours and say there will inevitably be some spillage of the ship's waste contents into the pristine Mediterranean waters.


Bimco  says:  Uncertainties in laytime definitions currently used in charter parties have been addressed in the latest Laytime Definitions of Charter Parties 2013.  Created by a shipping industry working group consisting of BIMCO, the Baltic Exchange, ComitÄ— Maritime International (CMI) and the Federation of National  Associations of Shipbrokers and Agents  (FONASBA), the new document sets out statements of meaning of words and phrases commonly used in the context of laytime and reflects contemporary market understanding based on the current state of English law.


Friday, September 13, 2013

Bunker industry is shipping's new banker

Shipowners needing to reposition their ships for better charter opportunities or  move from their existing trading area or even take the vessel to dry-dock are faced to contemplate  a large  fuel bill that the vessels cash flow cannot support- this places constraints on what would be rational decisions and overall must make for a sub optimal freight solutions- that fuel bill itself is a great inhibitor to moving tonnage from an area of surplus to an area of deficit-  Lloyds List

Quoting   Lloyds List article

Shipping needs financial assistance The bunker trading industry and traditional finance could work together

Hal Brown - Thursday 12 September 2013

THE bunker trading industry has in effect become the new banker for the shipping industry, according to a leading bunker industry expert.

This is because access to credit from the bunker industry to secure expensive fuel is vital for shipowners struggling to pay the bills in the current poor shipping market.

According to the International Bunker Industry Association’s immediate past chairman Nigel Draffin, the role of the bunker industry as shipping’s financial lifeline should be noted by traditional financial institutions, which have distanced themselves from shipping in recent years, due to the poor market.

The bunker trading industry and traditional finance could work together on helping shipping.