New DNV GL standard ensures reliable DP capability assessments
The ability to assess and compare the position-keeping capability of a ship equipped with dynamic positioning technology is vital during the planning and design phases, and provides valuable operational decision support. The DNVGL-ST-0111 standard is the first to provide a unified approach to these assessments, ensuring verifiable results and increasing transparency in the market.
“In the past few years many in the industry had been calling for a new standard that could account for advances in technology and provide reliable data to support owners, operators and other stakeholders in selecting, assessing and benchmarking vessels. This prompted us at DNV GL to take action. We worked very closely with just under 20 industry stakeholders from Norway, the Netherlands and the United Kingdom in developing DNVGL-ST-0111, resulting in a standard that truly represents industry-wide best practices”, said Aleks Karlsen, Senior Principal Specialist DP Systems Control Systems at DNV GL – Maritime, in his presentation at the European Dynamic Positioning Conference.
“One of the greatest challenges in this field is to be able to compare the DP capability of different vessels. In order to do this, we have developed the Level 1 in the standard, which sets strict requirements for the calculation methodology, enabling consistent vessel comparisons. The other challenges in our industry are the needs for vessel- and operation-specific DP capability assessments and methods that are able to provide DP capability results in realistic dynamic conditions,” added Luca Pivano, Principal Specialist DP Simulations, Marine Cybernetics Advisory at DNV GL – Maritime. To cover this, DNV GL has also developed two additional levels in the new standard, providing full flexibility for the stakeholders to choose from based on their needs.
The DNVGL-ST-0111 standard defines clear and consistent requirements for DP station-keeping capability assessments, the calculation method documentation and the presentation and verifiability of the results. Addressing both the intact vessel condition and the worst-case single failure conditions, it also corresponds to the vessel’s dynamic positioning class notation. The standard defines three different DP capability levels, each requiring a specific assessment method. The calculations use the Beaufort wind scale as well as significant wave height, wave period and current speed data as input. DP capability plots are generated for each level, and the results of the assessment are expressed with a DP capability number in the format of DP Capability-LX (A, B, C, D), where X is 1, 2 or 3 corresponding to the analysis level. The standard also defines two additional DP capability assessment levels, allowing for the inclusion of site-specific environmental data and external forces (Level 2-Site and Level 3-Site).
In support of the new standard, DNV GL has also developed a web application, which helps users calculate DP capability numbers for Level 1 and is available free of charge on the DNV GL customer portal “My DNV GL”. It assists users with entering all the required information and feeds back a visual representation as well as a report of the Level 1 numbers in near-real time. Users may then request DNV GL approval of the results through the online tool. In addition, DNV GL’s Marine Cybernetics Advisory team also provides services and a web tool based on cloud computing to assess a vessel’s DP capability according to Level 2, Level 3 and their site versions.
Luca Pivano, Principal Specialist DP Simulations, Marine Cybernetics Advisory at DNV GL – Maritime (right) speaking about the DNVGL-ST-0111 standard at the European Dynamic Positioning Conference in London.
Example of a Level 1 DP Capability plot representing intact as well as WCSF condition.
About DNV GL
Driven by our purpose of safeguarding life, property and the environment, DNV GL enables organizations to advance the safety and sustainability of their business. We provide classification, technical assurance, software and independent expert advisory services to the maritime, oil & gas and energy industries. We also provide certification services to customers across a wide range of industries. Operating in more than 100 countries, our professionals are dedicated to helping our customers make the world safer, smarter and greener.
About DNV GL – Maritime
DNV GL is the world’s leading classification society and a recognized advisor for the maritime industry. We enhance safety, quality, energy efficiency and environmental performance of the global shipping industry – across all vessel types and offshore structures. We invest heavily in research and development to find solutions, together with the industry, that address strategic, operational or regulatory challenges. For more information visit www.dnvgl.com/maritime
Shipping's Long, Slow Turn
t's a decent way of describing the problems of the container-shipping industry in recent years. Warnings about overcapacity date back almost a decade, yet even with a slowdown in trade, the global box fleet just kept growing and growing and growing.
The deadweight tonnage of the world's container ships more than doubled in the decade through June 2016 and didn't decline in any single quarter, according to IHS Global Ltd. data compiled by Bloomberg Intelligence. Even after demolitions of older and unprofitable ships began to outstrip orders of new vessels in 2012, the fleet kept expanding for four years.
Then something changed. Since June, 104 ships have left the global fleet, reducing capacity by about 2.5 million deadweight tons. That's helped lift rates: The price for shipping a 40-foot container from Hong Kong to Los Angeles has tripled from $776 to $2,336 at the end of January, according to Drewry, the London-based research firm -- the highest level for the route since 2013, and not far below the record in figures dating back to 2011.
ClassNK developing EU MRV reporting service with Weathernews
The EU MRV monitoring requirements will start at the beginning of 2018 ahead of a global MRV scheme being developed by the IMO set to start in 2019.
Speaking at a ClassNK technical seminar in Singapore on Thursday S Oishi, manager for business development from the classification society’s head office said that the deadline submitting a monitoring plan for verification for the EU system was 31 August this year, while penalties will be advised by EU states by 1 July 2017.
To help shipowners meet the demands of the EU reporting standards ClassNK is developing a new service that will link its systems with Weathernews’ voyage planning services to provide a verification system.
Oishi said ClassNK would provide a verification and certification service for the EU MRV and for companies that do not use Weathernews’ service they could contract directly with ClassNK.
He also highlighted monitoring requirements will start from the last called for loading and unloading of cargo before entering EU waters. For example a vessel sailing from Yokohama to Hamburg and calling to load or unload cargo in Singapore before proceeding to Europe the MRV reporting requirements would start from Singapore. However, if the vessel only called in Singapore bunkers reporting would be required to start reporting from Yokohama.
Asked if shipowners would be able to combine the reporting requirements from the EU and IMO MRVs he said the EU had said it was ready to harmonise reporting with the IMO if it believes the quality is high enough. However, if they are not harmonised owners will have to report them separately.
http://www.seatrade-maritime.com
"Leon Patitsas positive on wet and dry buys"
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Patitsas – who has been exploring a return to drybulk following a cyclical downturn in the market – told Marine Money today he was positive about buying both bulker and tankers.
“I’m optimistic by nature. I wake up every morning and I look at my lovely wife next to me smiling,” he told an audience at the Dorchester Hotel. “She is in the audience by the way, so I have to give her credit.”
He added: “I think with Trump in the White House the economy is going to do better. He has said he is going to lower taxes, deregulate and he is going to stimulate the economy with $1 trillion of infrastructure projects. That is definitely going to be positive for GDP and as we know shipping is highly correlated to GDP growth.”
He added: "I think that the worst is behind us. Definitely, on the dry side we have seen the bottom, at the same time last year, and on the tanker side we think things are going to be much better due to the fact nobody is ordering anymore. So, much more positive going forward.”
Patitsas told TradeWinds after Posidonia last summer he was exploring a return to the dry cargo market, which his family exited in 2007. However, Atlas today remains exclusively in wet, with a fleet of six aframax tankers on the water.
Good entry point
Patitsas said the dry cargo market continued to look attractive, with the capesize orderbook down at 9\% of the trading fleet and commodities rallying.
“Dry bulk presents a very good entry point because values are at historical 20 or 30 year lows,” he said.
“On the tanker side, we think it’s going to be a little bit soft due to the fact OPEC cut production and you have a lot of newbuildings coming this year.
"But you have a lot of regulations coming that will initiate scrapping and demand is creeping up. I would say diversification makes a lot of sense and I would put my money in both dry and wet.”
Price disconnect
Patitsas said a lack of financing, an inability of public tanker companies to issue equity and the fact 80\% of tanker owners have other shipping investments that were a drain on cash had created a disconnect between asset prices and the freight market.
“That’s why we believe values are so attractive on the tanker side, and earnings, maybe they are a bit lower than last year but they are still providing a very good cash on cash return,” he said.
“So this dislocation of values will last for a couple more years and whoever has access to capital or firepower will do well buying at this point in the cycle.”
Fiori positive on products
Marco Fiori, chief executive of product tanker specialist d’Amico International Shipping, was also positive on his market.
“To be in this business you have to be an optimist otherwise you die very young,” Fiori quipped during a panel discussion.
Fiori says 2017 is not going to be an earth-shattering year but he does believe it will be better than many suggest.
Noting only 30 products tanker newbuildings for delivery in 2018, Fiori says the market will start feeling a recovery later this year which will continue into 2018
“You don’t go to bed on 31/12/17 with a terrible market and wake up 1/1/18 with a fantastic market. It has to be a gradual process,” he said.
Shipping's unicorn
Fiori was less optimistic about the possibility of further consolidation in the tanker market.
“Consolidation has always been the unicorn in shipping. Everybody says we need consolidation and it never happens. I think we should all look at each other,” he said in response to a question from the audience.
“I must say coming from outside the shipping business, of all of the businesses I have been in during my lifetime [shipping] is where you encounter the most interesting people but also there is a lot of egos that can fill up a very big room. Consolidation is always a difficult problem when you have a lot of big egos.”
tradewindsnews.com
Capital Ship Management Corp. Takes Delivery of M/V ‘Attikos’
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About Capital Ship Management Corp.
Capital Ship Management Corp. is a distinguished oceangoing vessel operator, offering comprehensive services in every aspect of ship management, currently operating a fleet of 57 vessels with a total dwt of 6.06 million tons approx. The fleet under management includes the vessels of Nasdaq-listed Capital Product Partners L.P.
Best PSC performance award to the vessel AEGEAN POWER
Best PSC performance award to the vessel AEGEAN POWER
Mr. Ioannis CHIOTOPOULOS (DNV GL Hellas, Regional Manager) and Cpt. Dimitris MATTHEOU
Mr. G. Teriakidis (DNV GL), Mr. I. Loizos (DNV GL), Cpt. D. Mattheou (Arcadia), Mr. I. Chiotopoulos (DNV GL), Mr. A. Pagalos (DNV GL)
Nakilat transitions LNG Al Dafna to in-house management
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With a cargo carrying capacity of 266,366 cubic meters, Al Dafna is wholly-owned by Nakilat and chartered by RasGas. The vessel built in South Korea by Samsung Heavy Industries was delivered in October 2009 and has been in service ever since.
Al Dafna is the fifth Q-Max LNG vessel that will come under the management of Nakilat Shipping Qatar Ltd. (NSQL), bringing the total number of vessels managed by NSQL to 13, comprising of 9 LNG and 4 LPG carriers.
Monalisa 2 – STM Validation receives first SMART4SEA Innovation Award
Monalisa 2 STM Validation received the SMART4SEA Innovation Award, sponsored by HEMEXPO, for introducing smart solutions for sharing information data which result in efficient, safe and environmentally friendly maritime transport in the EU while at the same time reduce administrative burdens. This EU-funded project has enhanced Sea Traffic Management by assessing the strengths and weaknesses of the current maritime ship- and transport systems, operations and interactions, and defining a target concept and key performance indicators for STM strategic enablers. Other short-listed nominees for this category were: Kongsberg Maritime, Laros by Prisma Electronics, Marine Traffic and North of England P&I Club.
Presenting the award Mrs. Helen Polychronopoulou, President of HEMEXPO, on behalf of the sponsor stated:
“On behalf of HEMEXPO, the group of Hellenic Marine Equipment Manufacturers & Exporters, bringing together organizations sharing a common innovative vision towards safer shipping it is my pleasure today to present the winner of the first SMART4SEA Innovation Award selected from a short list of distinguished nominees. Given the current and future availability of broadband satellite communication, Sea Traffic Management is of vital importance for enhanced operational safety where data sharing is essential. Sincere congratulations to MONALISA 2.0 project which has succeeded in keeping updated various stakeholders by assuring both transparency and safety at sea traffic. Fore and foremost, this EU project has innovated in proving that through cooperation everything can happen. Now that industry moves forward to a smarter era a collaborative approach in sea traffic management, is imperative’’
Accepting the award on behalf of Monalisa 2 STM Validation, Mr. Ulf Siwe, Communications Manager stated
“It is an honor just to be nominated. I really want to congratulate the other nominees, and I hope to cooperate with you all in the future. Sea Traffic Management is about sharing and collaborating. There are more than 60 partners in the current project. They help building the momentum for the new way of exchanging information that we are introducing. SAFETY4SEA & SMART4SEA are well renowned internationally; and Greece is the greatest shipping nation in the world in many ways. That is why it is so special to accept the Innovation Award here in Athens, this evening”
Congratulating the winner of SMART4SEA Innovation Award, Mr. Apostolos Belokas, Founder and Managing Editor of SAFETY4SEA, commented:
‘’We are grateful to all those voted in inaugural SMART4SEA Awards. Their participation is always essential for rewarding industry’s innovations, such as this EU project. Monalisa 2 – STM Validation has been rewarded among other distinguished short-listed nominees for its unique approach in data sharing for enhanced maritime safety. Nowadays, that smart shipping has caused a revolution in the way ships are navigating; we cannot imagine living in a world without information. This project successfully provides real-time information resulting in transparency and operational efficiency.’’
The MONALISA 2.0 is project with a consortium of 39 partners and a budget of 24 million euro involving: Voyage Management services which provide support to individual ships in both the planning process and during a voyage, including route planning, route exchange, and route optimisation services; Flow Management services which support both onshore organisations and ships in optimising overall traffic flow through areas of dense traffic and areas with particular navigational challenges; Port CDM services which increase the efficiency of port calls for all stakeholders through improved information sharing, situational awareness, optimised processes, and collaborative decision making during port calls and; SeaSWIM services which facilitate data sharing using a common information environment and structure.
Monalisa 2 STM Validation attracted the most votes by the end of the voting period which held online during a two-month period. The inaugural presentation of the SMART4SEA Awards took place at the closing of the 2017 SMART4SEA Conference & Awards within the scope of awarding industry’s outstanding practices for Excellence, Innovation and Technology. Other winners of the 2017 SMART4SEA Awards were: Inmarsat for the 2017 SMART4SEA Excellence Award and Transas which received the 2017 SMART4SEA Technology Award. More details on the procedure may be found at http://www.safety4sea.com/2017-smart4sea-awards/
A NEW ERA FOR OLYMPIC SHIPPING & MANAGEMENT S.A.
Since 1 January 2017, George Karageorgiou is the new president and CEO of Olympic Shipping and Management S.A
Karageorgiou began his career in business and shipping at Kassos Maritime (1990). He then worked for Stelmar Shipping Limited (established in 1992), where he held various executive positions, and was also a member of the Board of Directors.
During his time at Stelmar, Karageorgiou was also a founding member and Executive Director of the company easyGroup Ltd (1995-2005), while he also was director of several of its subsidiary companies. He was a co-founder of the Greek shipping company Globus Maritime Limited (2006-2016). He was also General Director, and in 2011 he became President of its Board of Directors.
Karageorgiou holds a degree in Mechanical Engineering. He also did post-graduate studies in Ocean Engineering at Stevens Institute of Technology, and in Shipping Trade and Finance at City University Business School.
In this new era for Olympic Shipping and Management S.A. Karageorgiou succeeds Giannis P. Ioannidis, whom the Board of Directors would like to thank profoundly for his valuable services over many years.
In Brief: Olympic Shipping & Management S.A.
OLYMPIC SHIPPING AND MANAGEMENT S.A. is the company that manages the vessels owned by the Onassis Foundation. It is the successor of OLYMPIC MARITIME, founded in 1952 in Paris by Aristotle Onassis, and operated from Monaco until the early 1990s. Since then the company was moved to Athens, and particularly in Palaio Faliro. It manages a fleet of 17 double-hulled tankers and 10 bulk tankers, with a total carrying capacity of 5.500.000 DWT.
Capital Link’s 8th Athens Shipping Forum
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Greek shipping remains important to the maritime economy, constituting approximately 20 percent of the world’s shipping fleet. In spite of the volatile markets and economic downturn, Greek shipping professionals have consistently adapted to changing conditions, seeking out growth and opportunity rather than yielding to their circumstances.
FORUM OVERVIEW & STRUCTURE
This event will provide a comprehensive review of current trends and outlook of the global economy and the main commodity, energy and shipping markets. It will also discuss critical issues and challenges the industry faces, including geopolitical and regulatory developments, technical and commercial fleet management and access to capital. It will examine bank financing, capital markets and alternative funding mechanisms and strategies.
Our Athens Forum, in its 8th year, draws consistently over 1,000 delegates and is known for its large attendance by public and private shipping companies' executives and market participants.
FORUM KEYNOT SPEAKER
Keynote speaker of the Forum is Mr. Zhang Ye, President of the Shanghai Shipping Exchange who will discuss “The internationalization of the Chinese Economy and Chinese Shipping”. Mr. Ye was awarded the honor of Shanghai Municipal Leading Talent, Top 10 Finance Leaders in Shanghai and selected as the Top 100 Most Influential People of Shipping Sector by Lloyd's List consecutively in 2010-2013 and 2015. In 2012, he was also awarded the honor of Top 10 Most Influential Shipping People in China. He works as Shanghai Conference Ambassador since 2013.
2017 CAPITAL LINK GREEK SHIPPING LEADERSHIP AWARD
The "2017 Capital Link Greek Shipping Leadership Award" will be presented to Professor Costas Th. Grammenos CBE DSc, LRF Chair in Shipping, Trade & Finance, Chairman, Costas Grammenos Centre for Shipping, Trade & Finance, Cass Business School, City, University of London. Prof. Costas Grammenos has made a unique contribution to the global shipping industry not only by providing scientific and academic thought leadership through his writings and teachings but also through the establishment of an educational institution that has become the must-attend university for those who aspire careers in shipping, energy, trade and finance. More than 4.700 alumni belong to a unique network of professionals who today lead the industry to new directions. Costas Grammenos has achieved a uniquely positive and transformational impact on the global shipping industry.
Professor Costas Th. Grammenos will be introduced by Dr. Anthony Papadimitriou, President to the Board of Directors of Alexander S. Onassis Foundation and Dr. Nikolas Tsakos, President & CEO, Tsakos Energy Navigation; Chairman, Intertanko
TARGET AUDIENCE
Capital Link invites institutional investors, analysts, bankers, financial advisors, financial media, and other qualified investors who are interested in enhancing their knowledge of shipping across all sectors. With an average of roughly 1000 participants each year, attendees can expect an informative networking forum connecting them to the shipping industry’s key players, including influential members in the financial community, such as commercial and investment banks.
INDUSTRY PANEL & PRESENTATION TOPICS TO BE COVERED:
- Outlook & Opportunities in Shipping
- Bank Finance & Shipping
- Alternative Finance
- Capital Markets
- Restructuring
- Private Equity
- KEYNOTE ADDRESS
The Internationalization of China and Chinese Shipping
- “One Belt – One Road” The New Silk Road and How it Will Affect Shipping
- Regulatory Developments & Geopolitical Factors Affecting Shipping
- Optimizing Technical Management & Fleet Performance
- Analyst Panel
PARTICIPATING COMPANIES & ORGANIZATIONS
ABN AMRO Bank NV • Alexander S. Onassis Foundation • Anangel Maritime Services Inc • Apollo Management International • Berenberg Bank • BIMCO • Breakwater Capital • Cass Business School • Castlelake • Citi • Clarskons Platou Securities • Clyde & Co LLP • Columbia Shipmanagement • Common Progress Company • Offen Group • Chrystal Ocean Advisors • DC Maritime Partners • DNV GL - Region South East Europe & Middle East • DVB Bank • EY • Holman Fenwick Willan International LLP • INTERCARGO • INTERTANKO • Jefferies LLC • LISCR (Hellas) S.A. • Maritime Strategies International • Maxim Group LLC • Meerbaum Capital Solutions • NAMEPA/NYMAR • NASDAQ • NAVES Corporate Finance • New York Stock Exchange • Northern Shipping Funds • Oak Hill Advisors (Europe), LLP • Reed Smith • Seward & Kissel • Shanghai Shipping Exchange • Sino Energy Capital Management, Hong Kong • Tototheo Group • Tsakos Energy Navigation • Tufton Oceanic Lt • Varde Partners • Watson Farley Wlliams • Wells Fargo Securities LLC
IN COOPERATION WITH: New York Stock Exchange • NASDAQ
GLOBAL LEAD SPONSOR: TSAKOS ENERGY NAVIGATION LTD
LEAD SPONSOR: ALEXANDER S. ONASSIS FOUNDATION
GLOBAL GOLD SPONSORS: Clay Maitland • Columbia Shipmanagement • DNV GL • DVB • EY • The Marshall Islands Registry • Tototheo Group
GLOBAL SPONSORS: Citi • Clarksons Platou Securities • CLYDE & CO • Jefferies • MSI • Reed Smith • SEWARD & KISSEL LLP • TUFTON Oceanic • Watson Farley & Williams
EVENT SPONSΟRS: ABN AMRO • Crystal Ocean Maritime Assets • EHLERMANN RINDFLEISCH GADOW • Holman Fenwick Willan • Liberian Registry • MAXIM Group • NAVES Corporate Finance • Wells Fargo Securities
SUPPORTING SPONSORS: Accuritas Clobal Solutions • The American Club • Lloyd’s Register • NIKI • Northern Shipping Funds • Singhai Marine Services
BREAKFAST REFRESHMENTS SPONSOR: Bermuda Business Development Agency
COCKTAIL SPONSOR: NYMAR
COFFEE SPONSOR: Illy Iperespresso - Capsule System
SUPPORTING ORGANIZATIONS: Association of Banking and Financial Executives of Hellenic Shipping • BCA College • CASS Business School • Hellenic Shortsea Shipowners Association • Greek Shipping Co-operation Committee • Hellenic Chamber of Shipping • Hellenic Ship Suppliers & Exporters Association • Hellenic Shipbrokers Association • HELMEPA • INTERMEPA • Piraeus Association For Maritime Arbitration • Piraeus Marine Club • Port Captains Club • The International Propeller Club • Wista Hellas
INTENATIONAL MEDIA PARTNERS: AllAboutShipping.co.uk • The Maritime Executive • Ship2Shore • TradeWinds • Worldoils
GREEK MEDIA PARTNERS: Economia • www.efoplistesnews.gr • Elnavi • Huffpost Greece • www.maritimes.gr • Naftemporiki • naftemporiki.gr • Naftika Chronika • Nafsgreen.gr • Shipping International Monthly Review
REGISTRATION
To register please go to the link below:
http://forums.capitallink.com/shipping/2017greece/index.html
FOR MORE INFORMATION
Please visit:
http://forums.capitallink.com/shipping/2017greece/index.html?articleID=6xFypnfq5FO5qnK
For further information, please contact:
NEW YORK // Mrs. Olga Bornozi & Mrs. Eleni Bej
Tel. +1 212 661 75 66 - Email:This email address is being protected from spambots. You need JavaScript enabled to view it.
ATHENS // Mrs. Eleni Kouroubali
Tel: +30 210 610 9800 - Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
ORGANIZERS
Capital Link is known for the organization of large scale high quality maritime and investor forums in key industry centers, such as New York, London, Athens, Shanghai, and as of 2017 in Limassol. Capital Link organizes fourteen conferences annually, of which seven are focused on the maritime sector. Capital Link’s events draw the elite of the financial, investment and maritime communities and provide a unique combination of superior informational content, marketing and networking opportunities. Capital Link’s global marketing platform enhances the visibility and reach of these events during the year on a global scale that lasts well beyond the date on which each event is held, becoming a continuous reference point for market participants.
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