The ground-breaking pilot project establishing cold-ironing technology at Killini Port, was presented last Thursday (20/7/2017) at a special event, gathering together public officials, representatives from the local community and stakeholders from social and institutional sectors.

The event, which was organised by the European co-funded project elemed and Killini Port Authority, opened the Secretary General of Hellenic Ministry of Shipping D. Kalamatianos and the Western Greece Vice Governor G. Georgiopoulos.

The “why Killini” question for the establishment of the first pilot cold-ironing installation in Eastern Mediterranean, was the core of the event, highlighting the technical feasibility of the port but mainly Municipality’s vision and will to offer a more sustainable and greener future for Killini society. “We won the first bet, and we will continue” added Killini’s Mayor Nabil Morad.

Specific emphasis was given to the environmental, social and economic benefits envisaged by the implementation of electrification technologies. “All the involved parties must endorsed this important initiative”, Kalamatianos underlined during his welcome address.

Main aspects of the Elemed project and hybrid technologies were presented by P. Mitrou, Technology & Innovation Manager, Marine & Offshore at Lloyd’s Register South Europe. Available funding opportunities and schemes that could be valuable for the second phase of the Killini works and suitable for smaller ports of the region, were highlighted by Professor D. Lyridis from the National Technical University of Athens. 

At the end of the event, the attendees had the opportunity to be guided to Killini port where the pilot cold-ironing infrastructure will be installed.

PR Photos

About elemed

Elemed (Electrification in the Eastern Mediterranean) prepares the ground for the introduction of cold ironing, electric bunkering and hybrid ships across the Eastern Mediterranean Sea corridor, aiming at eliminating emissions & noise in ports and surrounding urban area. It is a co-funded by European Union project, studying all technical, regulatory and financial issues related to the establishment of cold-ironing infrastructure, in four ports (Piraeus, Killini, Lemesos, Koper), involving three countries. Within elemed framework, the first pilot cold-ironing infrastructure in Eastern Mediterranean will be established in Killini Port.

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www.elemedproject.eu

As per Paris MOU officially published Annual Report 2016 and 3 year RO Performance list 2014-2106, INSB Class demonstrated continued improvement of its performance in the European PSC Region by being listed as the 13th best performing organisation -from a total of 33 entities being recorded.

To achieve such positive PSC performance standards, INSB Class implemented a series of PSC prevention measures which proved highly effective.

Throughout the year 2016, INSB Class managed to retain the class related detentions to “Ground 0”, while receiving a large amount of inspections from latter authorities and thus INSB Class approached closer to the borderline leading to high performance rank.

In more particular, during the 3-year Paris MoU reporting period 2014-2016, INSB Class scored a total of 589 inspections versus 7 RO attributed detentions, resulting to an overall excess factor of just 0.11.

Such a sustained and positive performance, endorsed our strong commitment for safety and quality shipping as well as a factual demonstration for the safety & quality of the INSB classed fleet.

DIRECT LINK TO PARIS MOU ANNUAL REPORT 2016 

 

One of the final hurdles slowing Cosco-management’s plan to speed-up development of Greece’s Piraeus port into a major European gateway for Asian trade is set to be removed within the coming weeks.

In what is seen as imperative by the port’s managers, the Piraeus Port Authority (PPA), has reportedly agreed, in principle, with union locals a new general labour code, aimed at liberalising the decades-old regime that existed under the former state-run administration.

A new labour code, incorporating a new collective bargaining agreement, is set to be in place by the September deadline.

The new contract, which has 21 articles, defines the rights and obligations of both sides, and fulfils the Chinese shipping giant's oft-repeated intention of making Piraeus more competitive and efficient through a more flexible work schedule, such as instituting a flat eight-hour shift with overtime paid thereafter. The port's organisational chart is also revised and updated, while the manner in which individual work contracts are terminated also changes.

A highlight of the new work regime is a seven-day-a-week schedule at the port, with workers on a five-day alternating schedule. Weekends and holidays are not considered as eligible for overtime pay if a shift is part of a worker's five-day schedule.

However, not everyone is happy with the way things are shaping. It has emerged one in four PPA employees has expressed an interest in transferring to the broader state sector. Indeed, the PPA and the country’s Shipping and island Policy Ministry feared up to 30\% of the 1,088 employees could express the wish to depart, though less than a handful of requests come from administrative employees and engineers, with the vast majority coming from technical staff.

PPA ceo Captain Fu has told Shipping Minister, Panagiotis Kouroumplis that labour peace is a key element of the PPA development plan for the port.

Kouroumplis says the Ministry unequivocally supports working peace and wants to restore the image of the shipbuilding zone, noting to achieve this, a spirit of cooperation between employers and workers in the zone is necessary. He stressed the ministry supports workers' rights, but employees must understand their obligations.
 
David Glass
Greece Correspondent, Seatrade Maritime
 
 
 
 

 

On 11th of July Euploia Drydocks & Services Ltd signed a collaboration agreement with Marine Corrosion Service Limited.

Euploia Drydocks and Services Ltd wish to broaden professional horizons by representing Exclusively in Greece one of the most well-established companies in the field of Marine Cathodic Protection solutions and services in China.

Marine Corrosion Service (MCS) is a company providing Marine Cathodic Protection solutions and services in China, they have an expert engineering team, who is available for the marine ICCP anti-corrosion system & MGPS anti-fouling system. They are the authorized service station and spares distributor for the main makers in China, providing professional technical/engineering services by their experienced engineers, as well as the spare parts of the systems. Marine Corrosion Services (MCS) specializes in Sacrificial Aluminum and Zinc Anodes, in Impressed Current Cathodic Protection Systems (ICCP), in Marine Growth Prevention System (MGPS), in Installation, in Inspection and Repair Service as well as in Spare Parts.

Charis Valentakis, Managing Director of Euploia Drydocks and Services Ltd commented: “This collaboration aligns with our vision to offer to our clients high quality services. We look forward to building a mutually beneficial relationship with Marine Corrosion Service (MCS). I sincerely hope that this first step will lead to a long term collaboration between our companies”.

Michael Lee, Sales Manager of Marine Corrosion Service (MCS) added: “We are committed to our collaboration with Euploia Drydocks and Services Ltd. Through this Agency Agreement we expect to expand our business in the field of Marine Corrosion. We expect to increase our sales in the Greek Shipping market and strengthen our position in the Global market. We look forward to building a mutually beneficialrelationship with Euploia Drydocks and Services Ltd which will be based on Trust & Reliability”.

About Euploia Drydocks & Services Ltd

Euploia Drydocks & Services Ltd is a well-established company of highly experienced and qualified managers in the Marine Services, specializing in Ship Repairs and Conversions. Its core business is to provide Repair Services through their Worldwide Network of Leading shipyards, Workshops, and Co-operating Companies. Their Products and Services Portfolio extends to the field of Marine Equipment, Spare Parts, BWTS-ECOCHLOR, Lubricants, Bunker, and Safety Products & Services. Their mission is to provide the local shipping industry with high quality level of products and services accompanied with timely deliveries and competitive prices, honoring always their contractual commitments.

About Marine Corrosion Service (MCS)

Marine Corrosion Service (MCS) is a company providing Marine Cathodic Protection solutions and services in China. They are the authorized service station and spares distributor for the main makers in China, providing professional services by their experienced engineers, as well as the spare parts of the systems for marine and offshore, navy and industrial Market, offering an outstanding service to customers in terms of technical consultancy and after sales service ensuring the availability of engineers on site as well as prompt delivery of spares and product replacement. Marine Corrosion Service (MCS) is expert on the Marine Corrosion in China and guarantee offering genuine spare parts with competitive prices. Moreover, based upon their offices in Shanghai (For south of China) and Qinhuangdao (For north of China), MCS guarantee to offer professional service covering areas of all Chinese shipyards as well as terminal ports.

Nakilat recorded its financial results for the first half of the year ended 30 June 2017 with a net profit of QR 409 million compared to QR 501 million of the same period last year in 2016.

The lower profit was mainly attributed to the lower number of charter hire days in the current period compared to the same period last year (2016 was a leap year), the effect of changing the estimated scrap value of vessels in accordance with applicable International Accounting Standards and the reduced operations of a few joint ventures. On the other hand, the company’s timely repayment of the periodic loan instalments resulted in reduced finance costs.

Nakilat’s steady performance reflects the company’s prudence and effective strategic business plans in relation to the company’s rapid growth and development in being amongst the global leaders of energy transportation. Nakilat’s core business of delivering clean energy worldwide remains resilient, as the company strategically secures long-term agreements with financially strong charterers. Nakilat continues with its cost rationalisation efforts to remain competitive while pursuing initiatives to further drive operational efficiencies across its operations.

Nakilat Managing Director Eng. Abdullah Fadhalah Al Sulaiti said, “Nakilat perseveres despite the current economic environment through its steady growth in all its operations. The first half of 2017 has seen successful transitions of four vessels into Nakilat in-house management, bringing total vessels operated by Nakilat to 16 vessels to date. This further showcases our readiness to grow while strengthening in-house capability. Just recently, Nakilat signed a Memorandum of Understanding (MoU) with Hoegh LNG, forming a strategic alliance to explore Floating Storage and Regasification Unit (FSRU) project. This collaboration is a strategic move for Nakilat as we are always looking at opportunities to venture into leading-edge technologies and diversifying solutions to deliver clean energy worldwide, which further strengthens Qatar’s position in the energy portfolio.”

Recognizing the challenges ahead, Nakilat Managing Director Eng. Abdullah Fadhalah Al Sulaiti remains positive and determined. “We continue to assess our current investments in relation to profitability in order to address any risk involved for the company and its shareholders. Although Nakilat anticipates continued challenges, we remain focus on effective and efficient measures of control to steer the company forward. This comes in view of Nakilat’s vision to be the global leader and provider of choice for energy transportation and maritime services, which ultimately contributes to the development of an integrated maritime industry in Qatar.”

 

About Nakilat

Nakilat is a Qatari LNG transport company providing an essential transportation link in the State of Qatar’s LNG supply chain. Its LNG shipping fleet is the largest in the world, comprising of 63 LNG vessels. Nakilat also owns and manages four large LPG carriers. Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City via two strategic joint ventures: N-KOM and NDSQ. Nakilat also offers a full range of marine support services to vessels operating in Qatari waters. For more information visit: www.nakilat.com.qa

 

Nakilat today (18/07) signed a Memorandum of Understanding (MoU) with Höegh LNG, exploring collaboration for Floating Storage and Regasification Unit (FSRU) business as part of its diversification strategy for opportunities and solutions to delivering LNG to the global markets.

FSRU is the leading-edge technology for the liquefied natural gas (LNG) market. It is essentially a floating LNG import terminal, this technology has become a strategic solution for countries without LNG receiving terminal infrastructure, enabling better accessibility of clean energy. Among the significant benefits of FSRU are the ability to serve attractive markets which would otherwise not be able to utilize natural gas, pose lesser transportation risks and have the flexibility to be relocated or used as an LNG carrier.

Nakilat’s Managing Director Eng. Abdullah Al-Sulaiti said, “Nakilat views this strategic alliance with Höegh LNG, a leading owner and operator of FSRUs, as a huge stepping stone for further growth. This agreement paves the way for greater business opportunities to create substantial platforms for local players to get involved in the project, exposing them to innovative technologies and expertise that would be beneficial to their growth and the development of Qatar’s energy and maritime industry. Nakilat is always looking at opportunities of diversifying solutions to deliver clean energy worldwide, supporting the rising global demand of LNG.”

Mr Sveinung J.S. Støhle, President and CEO of Höegh LNG said, “We are pleased and very proud to be partnering with Nakilat, the largest LNG carrier company and look forward to jointly contribute to expanding the global market for LNG. The alliance with Nakilat is a confirmation of Höegh LNG’s leading position in the FSRU market and offers the opportunity to further accelerate our market presence beyond the projects we undertake on a sole basis.”

 

About Nakilat

Nakilat is a Qatari LNG transport company providing an essential transportation link in the State of Qatar’s LNG supply chain. Its LNG shipping fleet is the largest in the world, comprising of 63 LNG vessels. Nakilat also owns and manages four large LPG carriers. Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City via two strategic joint ventures: N-KOM and NDSQ. Nakilat also offers a full range of marine support services to vessels operating in Qatari waters. For more information, visit: www.nakilat.com

 

About Höegh LNG

Höegh LNG provides floating energy solutions and operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions and the strategy is to continue to focus its growth plans in the FSRU market, with the objective of securing long-term contracts with strong counterparties at attractive returns. Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, South Korea, Indonesia, Lithuania, Egypt, Colombia and Turkey. The company employs approximately 110 office staff and 500 seafarers. For more information, visit www.hoeghlng.com

 

Minerva Marine Inc., a leading ship management company, has selected RINA as its verifier for the Monitoring, Reporting and Verification (MRV) of CO2 emissions, as per Regulation (EU) 2015/757, for its total fleet under management of over 65 modern vessels.

Regulation (EU) 2015/757 lays down rules for the accurate monitoring, reporting and verification of carbon dioxide (CO2) emissions and of other relevant information from ships above 5,000 gross tonnage calling at ports under the jurisdiction of an EU Member State, in order to promote the reduction of CO2 emissions from maritime transport.

By 31 August 2017, shipping companies must submit to their verifier the Monitoring Plan of each fleet vessel and from 1-1-2018 onwards they will be required to monitor and record the emissions, fuel consumption and other relevant parameters that will have to be reported and verified on an annual basis.

“Minerva Marine pursues environmental and energy efficiency excellence with the aim of protecting the environment and ensuring pollution-free, environmental friendly and energy efficient operations.  In this respect, having in place a comprehensive and accurate plan for monitoring the emissions from our fleet vessels was a fundamental principle for complying with the MRV Regulation and working with RINA Hellas has assisted us in accomplishing this goal” commented Maria Sotiriou, the Head of Environmental Compliance of Minerva Marine.

Mr. Sokratis Dimakopoulos, the Chief Operating Officer of Minerva Marine, added “Meeting or exceeding all applicable environmental and energy efficiency regulatory and industry requirements is a key policy for our company and RINA has been selected as one of the world’s expert providers for verification and assurance services to verify our compliance with the MRV requirements’ and thanked the RINA team for the specialist expertise provided in this work.

“Cooperating and offering our services to top level companies like Minerva Marine on such a task is very important for RINA. We have been accredited by ACCREDIA for this activity and we are also a designated operational entity (DOE) accredited by the UNFCCC (United Nations Framework Convention on Climate Change) for the validation and verification of Clean Development Mechanism projects. RINA has all the credentials and the experience to assist the maritime industry in contributing to the global greenhouse gas emissions reduction,” said Spyros Zolotas, Area Manager, RINA Hellas.

 

Minerva Marine Inc. (www.minervamarine.com) is a leading ship management company with a fleet of more than 65 vessels with a total deadweight of more than 7.5 million tons.  The company aims to provide world-class ship management services, pursuing health, safety, security, quality and environmental excellence, implementing a process of continual improvement in a sustainable, compliant and socially responsible manner. Minerva Marine is certified in accordance with the ISM Code, ISO 9001, ISO 14001 and OHSAS 18001.

RINA Services S.p.A. is the RINA company active in classification, certification, inspection and testing services. RINA is a multi-national Group which delivers verification, certification, conformity assessment, marine classification, environmental enhancement, product testing, site supervision & vendor inspection, training and engineering consultancy across a wide range of industries and services. RINA operates through a network of companies covering Energy, Marine, Infrastructure & Construction, Transport & Logistics, Food & Agriculture, Environment & Sustainability, Finance & Public Institutions and Business Governance. With a turnover of 448 million Euros in 2016, about 3,700 employees and 170 offices in 65 countries worldwide, RINA is recognised as an authoritative member of key international organizations and an important contributor to the development of new legislative standards.

Bernhard Schulte Shipmanagement (BSM) is proud to announce that the 20,146 TEU containership, MOL Tribute, came into full management of the Hong Kong Ship Management Centre on July 10th, 2017.

Built by Samsung Heavy Industries in South Korea, MOL Tribute is 400 meters in length having a deadweight of 196,877 MT, with her sister ship, MOL Tradition, scheduled to enter Hong Kong management at the end of August. Through these significant milestones, BSM becomes part of a very select group of operators that have the expertise to manage some of the world’s largest containerships.

The extremely detailed process to select and appoint a ship manager for the ultra large containerships was commenced by the owner nearly two years ago, with BSM being selected following visits to the Hong Kong Ship Management Centre, the Mumbai Maritime Training Centre and on board large containerships currently being managed by the Company.  

BSM’s strong relationship with Mitsui OSK Lines (MOL) stretches back almost three decades and extends across bulk carriers, containerships and tankers which are both owned and chartered by MOL.

This significant decision demonstrates the trust that owners are placing in BSM’s capabilities to manage their new flagship containerships.

http://www.bs-shipmanagement.com

Zacks Investment Research upgraded shares of Diana Shipping inc. from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Zacks Investment Research currently has $4.25 price objective on the shipping company’s stock.

According to Zacks, “Diana Shipping Inc. is a global provider of shipping transportation services. They specialize in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes. “
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DSX has been the subject of several other reports. J P Morgan Chase & Co upgraded Diana Shipping inc. from a neutral rating to an overweight rating and set a $8.00 target price for the company in a research note on Friday, April 7th. Stifel Nicolaus reiterated a hold rating and issued a $5.25 target price on shares of Diana Shipping inc. in a research note on Friday, May 26th. BidaskClub lowered Diana Shipping inc. from a buy rating to a hold rating in a research note on Saturday, July 8th. ValuEngine upgraded Diana Shipping inc. from a sell rating to a hold rating in a research note on Tuesday, June 13th. Finally, Jefferies Group LLC dropped their target price on Diana Shipping inc. from $5.00 to $4.50 and set a hold rating for the company in a research note on Thursday, May 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $3.94.

Shares of Diana Shipping inc. (DSX) traded up 3.94\% during mid-day trading on Tuesday, hitting $4.22. The company’s stock had a trading volume of 714,738 shares. The stock has a 50-day moving average of $3.79 and a 200-day moving average of $4.00. Diana Shipping inc. has a 12-month low of $2.21 and a 12-month high of $6.20. The company’s market cap is $342.89 million.

Diana Shipping inc. (NYSE:DSX) last released its earnings results on Tuesday, May 23rd. The shipping company reported ($0.34) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.03. The firm had revenue of $31.30 million during the quarter, compared to analyst estimates of $28.69 million. Diana Shipping inc. had a negative return on equity of 15.25\% and a negative net margin of 138.84\%. The business’s quarterly revenue was up 1.6\% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.41) earnings per share. On average, equities research analysts forecast that Diana Shipping inc. will post ($0.99) EPS for the current year.

A number of large investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in shares of Diana Shipping inc. by 9.3\% in the fourth quarter. Renaissance Technologies LLC now owns 932,500 shares of the shipping company’s stock valued at $2,816,000 after buying an additional 79,500 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Diana Shipping inc. by 41.1\% in the fourth quarter. Macquarie Group Ltd. now owns 174,750 shares of the shipping company’s stock valued at $528,000 after buying an additional 50,900 shares during the last quarter. Horseman Capital Management Ltd bought a new stake in shares of Diana Shipping inc. during the first quarter valued at $469,000. Parametric Portfolio Associates LLC increased its stake in shares of Diana Shipping inc. by 1.9\% in the first quarter. Parametric Portfolio Associates LLC now owns 1,709,979 shares of the shipping company’s stock valued at $7,900,000 after buying an additional 32,397 shares during the last quarter. Finally, Phoenix Investment Adviser LLC increased its stake in shares of Diana Shipping inc. by 11.2\% in the first quarter. Phoenix Investment Adviser LLC now owns 199,201 shares of the shipping company’s stock valued at $920,000 after buying an additional 20,000 shares during the last quarter. Institutional investors own 33.97\% of the company’s stock.

Source: Zacks

Senior British officials were in Athens recently urging the Greek shipping community to have faith in the City of London after the UK leaves the European Union.

Chairman of Maritime London, Lord Mountevans, along with 10 London shipping reps were in town for the 4th Greek-British Shipping Forum hosted by the ‘pro shipping’ British Ambassador in Greece, Kate Smith, and attended by some 100 Greek shipowners and representatives of enterprises in the sector.

Benefits of continuing to foster the strong long-standing relationship between Britain and Greece, in particular their shipping industries, was the thrust of the message. Indeed, this was emphasised by the Ministers of shipping of each country, both of whom have had Brexit very much in mind.

In a recorded message, John Hayes, UK's minister of State for Transport, said, "working with Greece will help keep the UK a major maritime nation and trading partner". Hayes, said the fundamentals of London remain strong. Brexit does not mean the withdrawal of the UK from Europe, but presents the opportunity for the country to work outside, as the "vote showed the people wanted to be more independent".

"Traditional ties between our two people will continue," Greece's Shipping and Island Policy minister, Panagiotis Kouroumplis said in reply, adding "this cooperation in the field of shipping can have concrete and beneficial results for both". He said the two countries already cooperate closely in shipping matters, like at IMO, as both believe the transportation of goods should be protected.

Kouroumplis, was himself recently been in London promoting the attributes of the Greek shipping cluster should London-based shipping companies look for an alternate home post Brexit. The minister met with IG P&I clubs chairman, Hugo Wynn-Williams, and other P&I executives promoting Piraeus. Some 11 of the 13 IG members already operate offices in Greece but are not licensed insurance companies.

He said the government is trying to make the Greek flag more accessible by eliminating red-tape, before saying "the government wants to ensure the best possible cooperation between the UK and EU". "We have always believed the UK and EU are united. Through cooperation we will be able to solve any problems in shipping".

The UK party in Greece all cited the close relationship between the two maritime countries and the contribution of London-based Greek shipowners to both the UK and Greek economies, stressing prospects for further growth in their financial relations.

London will remain the "best one-stop-shop for business", declared Lord Mountevans, a former shipbroker, mayor of London's 'square mile' and now chairman of Maritime London. "The legal regulatory climate in London is unmatched," he said, continuing "the City is working to make London the most cyber safe place in the world".

Doug Barrow, director of the ambitious UK Ship Register, said the goal is to expand the UK register. "We want to be the choice of quality owners looking for a flag outside their home flag," he said. He said the register "is changing to meet the needs of our customers, but we will not sacrifice quality for growth".

Nevertheless, no clear answers were provided as to what Brexit will mean for foreigners who work in shipping offices or the tax status of shipowners based in Britain. The latter question carries significant weight as it appears foreigners who have completed 15 years in the UK with “non-dom” status (paying a steady annual tax amount) will now be taxed as British citizens, even for incomes earned in the rest of the world.

When questioned by shipowners in the audience, Lord Mountevans agreed "the non-dom tax was an issue" before saying "it is expected to stay as it is", adding, "I would like to see more incentives for shipowners". He also said, as did others, it is too early to know how the general climate will develop and the impact the Brexit process will have as it moves forward.
 
Seatrade (UBM (UK) Ltd). 
David Glass
Greece Correspondent, Seatrade Maritime