In the framework of the expansion and modernisation programme of its owned fleet, as anticipated in the last months, the Grimaldi Group has signed yesterday an agreement for the construction of six ro/ro vessels, for a total investment worth over USD 400 million.

The order has been awarded to the Chinese shipyard Jinling, thus consolidating an important partnership with the Neapolitan Group, the world's leading company in the ro-ro sector.
The new vessels, whose delivery is expected as from 2020, will have a length of 238 metres, a beam of 34 metres and will have a gross tonnage of 64,000 tonnes. They will be able to transport over 7,800 linear meters of rolling units, equivalent to about 500 trailers. Their loading capacity will be double compared to the one of the largest ships currently operated by the Neapolitan group and triple compared to the previous generation of ro/ro ships. At the same speed they will consume the same quantity of fuel, meaning a 100\% increase in efficiency when measured in terms of consumption/ton of freight transported.

The design of the new buildings, called "Grimaldi Green 5th Generation" (GG5G), was developed by the Technical and Energy Saving Department of the Grimaldi Group together with the Nordic Engineering Design house Knud E. Hansen and it incorporates innovative elements partly already patented and protected by copyright.

These are the first examples of a new series of hybrid ro/ro vessels, which will use fossil fuel during navigation and electricity while in port, thus guaranteeing "zero emissions in port". The vessels will, in fact, be equipped with mega lithium batteries which will allow them to satisfy the energy requirements while at berth. These batteries will be recharged during navigation, through shaft generators adding the so-called peak shaving system, and with the aid of 600 m2 of solar panels.

The other main technical innovation of these ships is the air lubrication system under the keel creating bubble layers which will reduce friction and hydrodynamic resistance and consequently the emissions deriving from fuel consumption.

The vessels’ hull will also be covered with special no-toxic silicon paints characterized by low surface roughness which will reduce friction with the sea and does not release any substances into the water.

As far as sulphur emissions are concerned, special on-board devices will combine the sulphur released by the propulsive cylinders with the salt contained in sea water, exploiting its natural chemical reaction, producing gypsum, which can be reused on the ground or disposed of in nature.

Three of the ships will be operated by Grimaldi Lines in the Mediterranean while the remaining three, which will be ice-class, will be purchased by the Group’s sister company Finnlines and deployed in the Baltic Sea.

"Reducing fuel consumption and, consequently, cutting harmful emissions are categorical imperatives for our Group", proudly said President Gianluca Grimaldi, at the helm of the Group together with the Managing Directors Emanuele Grimaldi and Diego Pacella. "It is the first time in the world that such powerful batteries, equivalent to those equipping 90 Tesla cars, will be installed on ships", continues Diego Pacella. "We are proud that these exceptional technologies on board will make the GG5G hybrid ro/ro the most innovative and efficient vessels in the world", concludes Emanuele Grimaldi.

www.transportweekly.com

 

Weekly Market Analysis

WEEKLY S&P MARKET REPORT

ATHENS, GREECE – April, 26, 2018 - TEN, Ltd. (“TEN” or the “Company”) (NYSE:TNP) today announced a minimum 12 maximum 24-months charter to a well-known oil major for an MR product tanker and the sale of the fleet’s oldest vessel, the VLCC Millennium for recycling purposes.

The fixture of the MR is expected to generate approximately $10.0 million of gross revenues over the extended duration of the contract while the sale of the VLCC will generate $7.5 million of free cash after repayment of applicable debt.

“The Millennium has operated flawlessly and profitably since her newbuilding delivery exactly 20 years ago and was much in demand by many significant oil concerns throughout her life.

The attractive price achieved combined with her age, provided us with the right opportunity to take advantage of the very strong recycling market, something other owners should consider as well” Mr. George Saroglou, COO of TEN commented. “The fixture of the product tanker on the other hand, highlights TEN’s continuity and operational model as it provides security and visibility of cash flows and the enhancement of an existing relationship with a blue-chip client, this time on the product space,” Mr. Saroglou concluded.

ABOUT TSAKOS ENERGY NAVIGATION
TEN, founded in 1993, is one of the first and most established public shipping companies in the world today. TEN’s fleet consists of 64 double-hull vessels, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 6.9 million dwt. Of these, 46 vessels trade in crude, 13 in products, three are shuttle tankers and two are LNG carriers.

Hellenic Lloyds SA is the successful bidder for specialized services for the assessment of Reports on Major Hazards, further to the relevant tender which had been announced by Hellenic Hydrocarbon Resources Management (HHRM).

In particular, based on the agreements to be signed between the two companies, Hellenic Lloyds SA will cooperate with HHRM on the assessment of Reports on Major Hazards for production and non-production installations of L. 4409/2016.

Hellenic Lloyds’ experience in the requested service area guarantees the excellent quality of the specific project conducted by HHRM.

HHRM Profile

Hellenic Hydrocarbon Resources Management S.A. (HHRM S.A.) was established in 2011. It is a state-owned company with the Hellenic State being the sole stakeholder (100\%), however it operates independently as a private-sector economic entity. HHRM S.A. is a rapidly growing company providing an innovative and effective management in a wide spectrum of activities: Exploration & Production concessions, overview of the signed lease agreements, offshore safety, and active promotion of Greece as an attractive oil and gas destination to international investors. HHRM S.A. offers the possibility to interested investors to visit its proprietary data rooms and offers them the opportunity to examine high quality seismic imaging and legacy data, as well as to provide information about the licensing, legal and fiscal regime for oil and gas operations in Greece.

For further information on HHRM, please visit the website: http://www.greekhydrocarbons.gr.

 

On Tuesday the 3rd of April 2018, at the Auditorium of Macedonia Megaron of Tsakos Group in Kallithea, the award ceremony of MARIA TSAKOS ACADEMY Chios Branch by Lloyd's Register as Approved Training Provider took place.

Present at the event were from Lloyd's Register, Mr John Iakovou, Marine Management Systems & Marine Client Training Manager and Dr. Kirikos Faraklas, LRQA Marine Manager and from Tsakos Group many executives of the Group management team.

This certification was the result of the successful assessment of the Branch of MARIA TSAKOS ACADEMY in Chios by Dr. Kirikos Faraklas and marks the successful conclusion of the continuous efforts of TSAKOS Group of companies for leadership in the important sector of maritime training, since the Chios Branch of MARIA TSAKOS ACADEMY was created and aims solely towards the advancement of seafarers who are part of the company's seagoing personnel in Chios.

The Approved Training Provider Scheme provides third party assessment and certification of the ability of organizations to provide training to a recognised standard and deliver courses which meet their stated objectives. It provides a benchmark for the marine industry when selecting courses for staff development and training. You may find more information on the website: https://www.lr.org/en/training/approved-training-provider-scheme/

 

On Monday April 23rd, 2017 the Piraeus Marine Club featured a talk as a part of its series of Working Luncheons highlighting key current events issues entitled “Geopolitical Developments: Risks and Opportunities” and bringing together two highly regarded experts for an exclusive connection with Piraeus Club members.

Thanos Dokos, Doctor of International and Strategic Studies of Cambridge University and General Manager ELIAMEP spoke on and analyzed the very critical issues on the tension in the Aegean and the Greek–Turkish relations’ prospects.

George Pagoulatos, Professor of European Politics and Economy at the Athens University of Economics & Business, & Visiting Professor at the College of Europe, Bruges, enlightened the audience for the challenges & prospects of the European Union and the position of Greece within that context.  

Dr. Dokos emphasized the higher degree of conflict rising between Greece and Turkey, and the critical challenges for Greek foreign policy: the Aegean, Cyprus, FYROM, and Albania.  

Mr. Pagoulatos updated the attending Members on the changing scene and for Greece’s economical chances in the new era.

 The members had the opportunity to raise questions and delve deeper into the topics while the two distinguished speakers provoked an engaging discussion.

The President of Piraeus Marine Club Ms. Irene S. Daifas rewards the speaker Dr. Thanos Dokos	The President of Piraeus Marine Club Ms. Irene S. Daifas rewards the speaker Dr. George Pagoulatos
General point of view of the working luncheon at “Stamatios Macias Restis” Hall on the 9th floor of Piraeus Marine Club
	The President of Piraeus Marine Club Ms. Irene S. Daifas together with Mr. George Tsavliris & Mr. George Pateras, President of Hellenic Chamber of Shipping on the right

ONEX NEORIO 2020: Proposal to the Hellenic Ministry of Defense for a European Research and Development Program for a Greek stealth & unmanned open sea patrol boat!

ONEX Group is dynamically entering the Shipbuilding Market as a key player in the National Defense and Security Sector.

By coordinating three countries (Greece, Cyprus and Italy) and with a proposal already submitted to the General Directorate for Defense Investment & Armaments of the Hellenic Ministry of Defense and in the framework of the European Defense Industrial Development Program for a new Open Sea Patrol Boat, ONEX SYROS SHIPYARDS transforms the domestic establishment.

The proposal, entitled “ONEX NEORIO 2020”, suggests the construction by Syros Shipyards of a state-of-the-art open sea patrol boat of multiple capabilities that can also be used as unmanned vessel on surveillance missions with low traceability, utilizing stealth technology!

In particular, ONEX SYROS SHIPYARDS proposes the development of an integrated maritime surveillance platform based on an existing open sea patrol surface design of over 350 nm with low visibility characteristics.

The vessel will operate at a high speed level with crew or optionally, as an unmanned system. Its load consists of sensors, telecommunication equipment and other electronic systems. It will be open, of modular architecture, capable of adapting appropriately to the operational requirements. Its sensor system will include, among others, Surveillance Radar, High Resolution Thermal Camera, Day / Night TV Camera and Laser Distance Meter.

Its telecommunication equipment will include terrestrial wireless and satellite communications systems. The platform will have a data processing, information management & control system integrated with the other systems, consisting of a Video Analytics subsystem for data processing by the sensors, and a Data Fusion, Administration & Control subsystem, sending additionaly analytical reports.

The operational benefits of building the patrol vessel of ONEX SYROS SHIPYARDS will be the following:

It will be achieved long-term surveillance of marine areas of interest.
Effective surveillance using multi-spectral active and passive sensors to achieve optimal tactical image of the area of ​​interest.
The existing surveillance system can be extended to previously limited areas.
The vessel will be flexibly adapted to the operational conditions and requirements. For example, as unmanned, it may operate in a high-risk and contaminated environment.
The systems to be included will be of open architecture interconnected to existing and future control and command systems of the Armed Forces.
It is noted that for the implementation of the proposal, ONEX SYROS SHIPYARDS along with other ONEX Group companies, will coordinate and supervise subcontractors in more than eight countries!

All the above and the fact that the vessel will be constructed at the Neorion Shipyards facilities, signify and further emphasize the strategic importance of the shipyard not only for Greek but also for European and NATO Security. Moreover, the implementation of the program will be another example of the dynamic and innovative spirit that the Greek-American ONEX Group of Companies introduces through its activities in Greece.

www.onexcompany.com

 

Singapore based owners are set to take delivery of the highest number of vessels on record yet by the end of 2018.

The previous record was in 2008 at the peak of the asset value spike. A large number of market participants have placed orders for a wide variety of ship types, and the chart below includes all major vessel segments from offshore to VLCCs.

There will be some slipping in these planned orders as market weakness persists in the tanker and offshore segments, but even with this considered 2018 should be a bumper year. Over 80 companies account for these orders, which reflects the rich maritime ecosystem of Singapore. 

The orderbook outstanding in 2018 catapults the Lion City to the number two spot of expected deliveries this year and cements the role of the Republic as a key player in the global shipping markets in the years ahead. Singapore’s terminals are a critical hub for containerships, tankers, and dry bulk vessels.

Most major shipping businesses maintain a presence in the nation state which further enhances knowledge of the industry, which in turn encourages investment. The natural synergies that result from having so many key market participants will continue to drive interest new build orders in the years ahead. Singapore based owners will remain leaders in the shipping industry. 

vesselsvalue.com 

Athens, Greece. Lamda Hellix and SetelHellas are launching a new strategic alliance aiming to provide shipping industry with exceptional solutions in the security and surveillance critical segment.

Lamda Hellix is a leading provider of data center and physical security services in Southeastern Europe and Setel Hellas is an international provider of market leading ICT solutions specially designed for the maritime and offshore vertical enterprises.

This partnership aims to offer an integrated portfolio of physical security solutions, utilizing Setel’s extensive experience in “Intelligent Vessel™” and Lamda Hellix’s excellence in Data Center Services, security & safety. Main goal is to support enterprises seeking to safeguard and secure their maritime assets wherever they are. This alliance brings key solutions to the maritime industry by unlocking and assuring the business value of digital ship.

Alexandros Bechrakis, VP Business & Technology of Lamda Hellix, stated: “The cooperation with Setel Hellas will further enhance our presence in a major sector. We are confident that this will allow us to better meet the needs of the maritime industry offering advanced solutions in security and surveillance. SETEL is an invaluable partner with its deep technology understanding, ICT maritime integration capabilities and customer focus”.

George Christakos, Solutions Manager of SetelHellas, commented: “Working with a team of pioneers in digital and physical security can only be beneficial for our clientele. We strive to provide holistic solutions, in alignment with the IoT era, and this cooperation will reinforce our presence in security systems which is an increasing need for the shipping industry”.

 

About Lamda Hellix

Lamda Hellix provides data center services that help enterprises and TelCos increase safety and availability of their mission-critical applications, while maintaining same autonomy and independence as with fully owned infrastructure.

The company offers a comprehend portfolio of data center services, including design, development, implementation, operation, maintenance, technical support and advanced, IP based, Physical Security systems.

Lamda Hellix has developed world-class data center facilities and services for the hosting of main or disaster recovery centers and points of presence of large private and public organizations as well as service providers in South Eastern Europe.

With a proven track record of hundreds of successful cases, Lamda Hellix is an award-winning company and one of the European leaders in the provision of data center solutions and services.

Founded in 2002, Lamda Hellix is a privately held organization, based in Athens, Greece.

Find out more about the company and the company’s social responsibility policies at www.lamdahellix.com

About Setel Hellas

SetelHellas is an international provider of market leading ICT solutions specially designed for the maritime and offshore vertical businesses. SetelHellas is currently operating in Piraeus, Cyprus, Dubai, Singapore and Korea covering the International Shipping Industry and serving directly and through our partners hundreds of shipping companies worldwide.

With emphasis on value added solutions as the key to both short and long term economical sustainability, SetelHellas has designed and developed a wide range of solutions that enable organizations to expand the possibilities for competitive advantage and reach their full potential.

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The international shipping industry needs to work more quickly towards global digital standardisation if it is to reduce its CO2 emissions.

Argyris Stasinakis

Speaking at the Singapore Maritime Technology Conference today (25 April 2018), Argyris Stasinakis, a partner with ship tracking intelligence company MarineTraffic, told the audience that more information exchange between shipowners, shippers, ports, equipment manufacturers and IT companies was needed to meet the ambitious CO2 emission reduction targets set by the International Maritime Organization (IMO).

"Reducing shipping's environmental footprint isn't just about fuel choice and vessel design. It's about deploying our assets intelligently. This can only be done if the industry is able to build a common approach to data standards and be more prepared to share this data. If we are to unlock the potential contained in the vast quantities of official and validated crowd-sourced information generated by shipping, we need to take a more open approach," said Argyris Stasinakis.

MarineTraffic is part of the IMO's Global Industry Alliance, a public-private partnership working towards building a low carbon maritime transportation system.

MarineTraffic believes that more industry stakeholders need to be involved in taking a holistic approach to optimising the voyage from berth to berth and go far beyond standard routeing services which are currently available. Open data and transparency can positively contribute to the overall competitiveness of the shipping industry, significantly improving efficiency.

Argyris Stasinakis added:

"I passionately believe in the concept of positive disruption in the shipping industry. The benefits of better data are significant: lower fuel consumption, lower emissions, improved berth occupancy, tighter time windows for delivery of services."

 

With headquarters in Athens and international offices in the UK and Singapore, MarineTraffic is the global ship tracking and maritime intelligence provider.

Leveraging AIS technology, MarineTraffic is at the forefront of a movement taking shipping into a new digital era. The company's range of services deliver increased transparency to the shipping markets through the provision of high-quality data for analysis, which supports forecasting and informed decision making.

MarineTraffic receives analyses and stores millions of vessel positions every day. This data is collected through the world's most extensive network of AIS stations before being enriched to deliver business-critical information. Current positions and vessel's tracks are displayed on a Live Map, with historical positions, vessel details, port conditions and statistics being made available throughout the website.