Wednesday, December 31, 2014

Major Launches of 2014 Marine Insight

Wednesday, December 24, 2014

Vivek has sent you an e-card

23 December 2014

Dear ALL FRIENDS VARENCO,

Vivek (vrao@varenco.com) has sent you a Jacquie Lawson e-card. If you haven't heard of us, you'll be pleasantly surprised! Our e-cards are known for their artistry and gentle humour.

You can view your card here.

If you'd like to reply to the sender, simply click "Send a Reply" at the bottom of the card. And if you enjoy this e-card, you can learn more about us here.

With best wishes from us all,
Jacquie Lawson and team.

Jacquie Lawson

Tuesday, December 2, 2014

Exim Bank to set up ₹1500-cr fund to assist ship-building industry

The Exim Bank chief explained that if a financialinstitution for the ship building sector is set up with ₹1,500 crore equity, then the Reserve Bank of India will permit it to lend only 10 times of the equity. So, the institution can lend ₹15,000 crore ...



Wärtsilä integrated solutions for PSV


Wärtsilä to supply the design and integrated solutions for four new platform supply vessels (PSVs). The ships will be built at a Shipbuilding yard in Poland. The four new vessels, like the two currently under construction, will utilise the Wärtsilä VS 4411 DF ship design and will have Wärtsilä dual-fuel propulsion allowing them to operate primarily on liquefied natural gas (LNG).

AMSA reports smooth transition to greater responsibilities in the last financial year LLoyds List




The Australian Maritime Safety Authority (AMSA) conducted 7824 inspections of 19 different types, covering ship and cargo safety during 2013/14, according to its recent annual report.
  
This 12.9% increase over the previous financial year also accounts for AMSA’s broader oversight to include monitoring of compliance when it became the regulator of the Maritime Labour Convention, 2006 (MLC, 2006)...

Tuesday, November 18, 2014

I'd like to add you to my professional network on LinkedIn

 
Vivek Rao would like to stay in touch on LinkedIn.
Vivek Rao
Vivek Rao
Director at Varenco Pty Ltd
Sydney, Australia
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Tuesday, November 11, 2014

QUALITY CONTROL OF BUNKERS - IMO TAKES A STEP IN THE RIGHT DIRECTION

 

Quality control of bunkers – IMO takes a step in the right direction

The International Maritime Organization (IMO) has agreed to consider introducing measures to improve controls of bunkers delivered to ships. After six submissions to the IMO over 4 years, to which INTERTANKO made a major contribution, persistence with another submission has resulted in progress to assure the quality of fuel delivered to ships. 

A correspondence group will develop guidelines for states to ensure fuel quality compliance with MARPOL Annex VI. It will also consider the adequacy of the current legal framework for assuring the quality of fuel. 

INTERTANKO’s Managing Director Katharina Stanzel says: “We welcome this decision. However this is only the beginning as we believe that control of compliance should be transparent along the entire supply chain. Our members and all ship owners should be able to have confidence, and documented proof, that fuels they receive are at or above the mandated standards.”

In order to control whether bunkers delivered and used by ships are compliant, most parties to MARPOL Annex VI control fuels used by ships (i.e. sampling fuel in the engine room). INTERTANKO has been arguing that there should be given first clear evidence of the quality of fuel supplied to the ship is compliant.

From 1 January 2015 tighter SOx emissions limits (<0.1%) will mean increased control on ships arriving in port. “Port authorities such as the EU Member States will have a real challenge in demonstrating non-compliance by testing fuels used by ships,” says INTERTANKO’s Technical Director Dragos Rauta, “when ships may hold test results demonstrating that the fuel delivered to them was not compliant.”

In order to protect their ships, INTERTANKO has advised its members to issue a Note of Protest to the Flag Administration, bunkering Port Authority and to Port State Control at the next port whenever bunker suppliers do not use IMO Guidelines to take the MARPOL sample and that sampling is not witnessed by the crew.

The latest submission, co-sponsored by INTERTANKO, Marshall Islands, Liberia and other industry representatives, found widespread recognition and support for amendments to the current rules to increase the control on fuels delivered to ships, arguing that there is ample evidence that the current regime is falling short.

However arguments that regulatory changes aimed at improving control with bunker suppliers would be too burdensome for many countries and would fundamentally change the supplier/customer relationship led to a successful US proposal to develop non-mandatory guidelines to ensure that bunker suppliers provide fuels that comply with the quality requirements in MARPOL Annex VI.

 

 

OCEAN TRASH INDEX

The Ocean Trash Index presents state-by-state and country-by-country data about ocean trash collected and tallied by volunteers around the world on one day each fall during Ocean Conservancy's International Coastal Cleanup®.

Volunteers have collected data since 1986, and the numbers are used to raise awareness, identify hotspots for debris or unusual trash events, and inform policy solutions.

Cleanups alone can't solve this pollution problem. Nevertheless, the Ocean Trash Index provides a snapshot of what's trashing our ocean so we can work to prevent specific items from reaching the water in the first place.

Want to do more? Join the fight for a healthy ocean by taking the pledge to help turn the tide on ocean trash.



Tuesday, October 21, 2014

Bulk Ports



Vivek B Rao
Director
VARENCO PTY LTD
www.varenco.com
 
Mob: +61-437-597-579
Tel:     +61-2-9882-6947
Fax:    +61-2-8079-6889
 
ABN 99 127 152 363
19 Willis Road Castle Cove NSW 2069 Australia
 
The information in this e-mail and any attachment to this e-mail is confidential and may be subject to legal or professional secrecy requirements. It is intended solely for the person to whom it is addressed. If you have received this e-mail in error, please notify us accordingly and delete the message from your system. You are prohibited from using, copying or distributing information contained in this message or in any attachment to the mail. Opinions or recommendations contained in this mail are subject to the conditions of the relevant mandate relationship with the addressee






Vivek Rao





Saturday, October 11, 2014

Sent from my Sony Xperia™ smartphone on the Telstra™ Mobile network

Monday, July 28, 2014

BV Class WW

“”Bureau Veritas (BV) is to launch Lashing WW, a voluntary notation that opens up more flexible stowage on containerships through revised calculations from the international class society's research into ships in service. Lashing WW can be used on ships fitted with an approved lashing computer that can calculate container stack weights and required lashing using acceleration levels corresponding to the ship's loading condition and geographical area of operation. BV claims research and data from real ships in service shows that accelerations in the midships section of container vessels are always closely correlated with the natural roll period of the ship and could often be much less than those set down in the present rules for lashing calculations. BV's calculations show that stack weights midships for ultra-large container vessels using BV lashing software can be increased safely .””

 

Wednesday, July 2, 2014

Sent from my Sony Xperia™ smartphone on the Telstra™ Mobile network

Friday, May 23, 2014

Ship Finance Opportunities : Green Recycling and Growth of Recycling in India :: Ship Financing Initiatives based on residual value financing.

 

It’s important that the India move up the recycling chain for environmental responsibility in order to capture value  from a mountain of ships in the container and bulk segment that will need to be recycled and removed from the market in the coming years,.

 

In India helped  by the strengthening of rupee and improving the prospect of steel prices in the secondary market, the multi-billion junk ship market is busy striking deals. At present, around 80 ships are being demolished at Laang’s yards. Industry participants expect that a new  government will ensure a steady improvement in infrastructure, which, in turn, would help steel prices.

The EU Ship Recycling Regulation was published  and  will enter into force on 30 December 2013;. The official text of the Regulation can be found here

Details about the recycling at Along can be found here

http://www.gmbports.org/showpage.aspx?contentid=1528

 

While approval to build more capacity at Alang have been slow   and beset by environmental concerns  The Adani  group has  had a  project proposed involves development of recycling facility adjacent to existing West Port, in Mundra  in a project area covers about 40 hectares of  reclaimed land created by dumping dredge spoils. The project promotes   recycling of approximately 40 ships annually of average Light Displacement Tonnage (LDT) 7582 tonnes. It is estimated that nearly 0.25 million tonne (Mt) per year of scrap metal will be recovered along with 11,000 tonnes per year machinery and 10,000 tonnes per year of miscellaneous items.

 

The container Ship market continues to be in some distress  with a the number of carriers reporting negative results in earnings before interest, taxes, depreciation, and amortization (EBITDA) fell in 2013 when compared with 2012, interest coverage fell to 4.9. That onerous interest burden can be traced to the steady increase in leverage across the industry in the past decade, as carriers have invested in new tonnage  capital expenditure grew to $26 billion.

 

In 2013, carriers damped this course by restraining capital expenditure  to $20 billion. Although the container shipping industry has for decades been subject to a vicious cycle of mismatches in supply and demand, this time the cycle has been different: there has been no sustained period of recovery—no seller’s market—in which the carriers could rebuild their finances. The impacts of this prolonged financial stress appear to have been exacerbated by the extraordinary levels of investment required to keep pace with the largest carriers’ order books - See more at: http://www.alixpartners.com/en/Publications/AllArticles/tabid/635/articleType/ArticleView/articleId/1087/Change-on-the-Horizon.aspx#sthash.kPBgkNZf.dpuf

 

Shipping Banks are no longer active supporting the shipping business through their volatile life cycle- Credit is scarce = perhaps even non-existent - All this has meant that many smaller shipowners who [perhaps have viable businesses are unable to obtain funds to cover routine matters like Drydocking or capital reinvestments for engines etc.  

 

This market presents some great opportunity for secure yield investments in shipping our  Ship Finance Company  through a specialised vehicle www.tankerpartners.com  arranges for Ship Financing based on Residual value Financing to enable vessel owners obtain scare liquidity to manage their businesses.  Contact us for more details

 

 

 

Wednesday, May 21, 2014

it is our great pleasure to announce that as of May 2014 Ms Vicky Malliri has joined our company in order to strengthen our sale & purchase and projects desk. Vicky brings with her a solid background in shipping, having worked both in maritime trding companies and for the last five years at a well established shipbroking house in Athens. She received a BSc in Shipping & Maritime Economics from Piraeus University and a Master of Business Administration from Bocconi University in Milan.  We would like to take this opportunity to thank you very much for your support in the past which kindly also extend to Vicky going forward.

 

Please note our contact details (new visiting address !)

 

Five Oceans Maritime Asset Management GmbH & Co. KG

Zirkusweg 1 / 20359 Hamburg / Germany

P: +49 (0)40 2800 7788-0

F: +49 (0)40 2800 7788-20

www.five-oceans.de

 

Asset Management  / Projects

Mr Jan Hagemann: jan.hagemann@five-oceans.de

Mr Werner Ackermann: werner.ackermann@five-oceans.de

Ms Karolina Kulcicki: karolina.kulcicki@five-oceans.de

Mr Robert Rau: robert.rau@five-oceans.de

 

Asset Management / Finance

Mr Thassilo Plenge: thassilo.plenge@five-oceans.de

Mr Marco Thaysen: marco.thaysen@five.oceans.de

Ms Laura Schmitter: laura.schmitter@five-oceans.de

Ms Agathe Oft: agathe.oft@five-oceans.de

 

Sale & Purchase / Projects

Mr Glenn Sanmann: glenn.sanmann@five.oceans.de

Ms Vicky Malliri: vicky.malliri@five-oceans.de

 

Ship & Fund Management, Singapore

DO Shipping Pte. Ltd., 33 Ubi Avenue 3, #08-68, Vertex, Singapore 408868, P: +65 98580264

Capt. Vivek B. Rao: vrao@varenco.com, P: +61437597579

Mr Charles Wang Cheow Kit: cwk@varenco.com

Mr Gerard D.T.: gerard@gbsc.com.sg

Ms Noor Lelah By Mohamed Ariffin

 

 

About Five Oceans

 

Five Oceans is a Hamburg based specialized Maritime Asset Management and Ship Finance boutique. Founded in 2010, it has today developed into a leading independent third party asset manager for maritime investments and ship finance portfolios. Services are rendered to owners, private equity firms and financial institutions. They include amongst others project development, consulting & restructuring advice on special situations, fresh equity or debt placements, total SPV management incl. provision of directors or co-directors also for distressed situations, full commercial management of ships incl. Chartering and Sale & Purchase, and ongoing credit portfolio monitoring services. Amongst others, Five Oceans has been mandated by a major international bank to develop residual value secured ship financing deals. Ship Management and proprietary maritime fund management services are rendered through its sister company in Singapore, DO Shipping.

 

 

Tuesday, May 20, 2014

World Shipping Snapshot- Marine Traffic

 

New ZEaland Forest Products by Destination 1st Qtr 2014

Quarter Ended:

March 2014 p

Country of

Quantity

FOB

Destination

(M3)

(NZ$000)

China, People's Republic of

3,120,335

493,213

Korea, Republic of

514,630

74,514

India

302,889

48,087

Japan

212,841

28,508

Taiwan

23,894

3,559

Thailand

3,505

562

Viet Nam

2,357

507

 

 

 

 

LLoyds

 

k of America and U.S. hedge fund Davidson Kempner Capital Management were expected to buy the Lloyds' loans, one of the sources said. Another source added that the terms of the deal were being finalised.

 

Lloyds, Bank of America and Davidson Kempner all declined to comment.

 

Pricing on the deal was in the region of 80 percent of the value of the loans, one of the sources said.

 

"Lloyds are keen to get out of shipping and this deal is part of their efforts to speed up the process," another source said.

 

In February, finance and banking sources said Lloyds was looking to the sell the $500 million tranche as the state-backed bank cuts the size of its balance sheet to reduce risk.

 

The state-backed bank accelerated the run-down of its shipping portfolio last year and sold 2.7 billion pounds of loans, contributing to a 35 billion pound reduction in its non-core assets to 64 billion pounds.

 

Lloyds' sale of shipping loans last year left it with 965 million pounds of net ship finance loans at the end of December, down from more than 7 billion pounds at the peak of the financial crisis.

 

Friday, May 16, 2014

AB KI BAR MODI SARKAR


Vivek B Rao
Director
VARENCO PTY LTD
www.varenco.com
 
Mob: +61-437-597-579
Tel:     +61-2-9882-6947
Fax:    +61-2-8079-6889
 
ABN 99 127 152 363
19 Willis Road Castle Cove NSW 2069 Australia
 
The information in this e-mail and any attachment to this e-mail is confidential and may be subject to legal or professional secrecy requirements. It is intended solely for the person to whom it is addressed. If you have received this e-mail in error, please notify us accordingly and delete the message from your system. You are prohibited from using, copying or distributing information contained in this message or in any attachment to the mail. Opinions or recommendations contained in this mail are subject to the conditions of the relevant mandate relationship with the addressee






Vivek Rao






Sent from my Sony Xperia™ smartphone on the Telstra™ Mobile network

Queen on the Elbe

Sent from my Sony Xperia™ smartphone on the Telstra™ Mobile network

Wednesday, May 14, 2014

Project Cargo at Dampier

 

 

Vivek B Rao

Director

VARENCO PTY LTD

www.varenco.com

 

Mob: +61-437-597-579

Tel:     +61-2-9882-6947

Fax:    +61-2-8079-6889

 

ABN 99 127 152 363

19 Willis Road Castle Cove NSW 2069 Australia

 

The information in this e-mail and any attachment to this e-mail is confidential and may be subject to legal or professional secrecy requirements. It is intended solely for the person to whom it is addressed. If you have received this e-mail in error, please notify us accordingly and delete the message from your system. You are prohibited from using, copying or distributing information contained in this message or in any attachment to the mail. Opinions or recommendations contained in this mail are subject to the conditions of the relevant mandate relationship with the addressee Sent from Sony Xperia