Greek Shipping News Cuts
Week 42 - 2009

 

ThyssenKrupp ready to quit Hellenic Shipyards October 31, 2009

---Reportedly owed $520m by the Greek state, the German owners of Hellenic Shipyards announced October 15 they will quit the Skaramanga yard October 31. The shipyard's managing director Akio Ito told workers' representatives their wages and other payments will cease October 31 and that "Greece is no longer a priority for the German [ThyssenKrupp] group as it cuts its activities outside of Germany".
"To pay the salaries and the Christmas bonus the Greek state must pay the money it owes," Ito told the workers. The union's immediately sought a meeting with Defense minister, Evangelos Venizelos.
Closure of Greece's largest yard loomed last month when Hellenic announced it has stopped all contracts held by it for the Greek state, thus halting the Greek navy's fleet renewal programme while putting the future of the Skaramanga yard in jeopardy. The facility's owners ThyssenKrupp Marine Systems (TMS) has been looking unsuccessfully for a buyer.
Hellenic charges "the Greek state is not meeting its obligations" and as a result "the operation of the shipyard is not commercially viable". Mid-September the yard's management told workers the yard's commercial activities will be closed because of pressure and fines imposed by the European Union. Hellenic and TMS charge the Greek state is also responsible for the EU efforts action. The European Commission has ruled state aid worth Euro 230m ($363m) has to be paid back contending it was granted illegally. The Commission ruled the cash gave the Skaramanga yard an unfair commercial advantage over rivals.
Jobs of some 1,400 employees, plus those of workers employed by Hellenic's subcontractors are involved. The Greek state is said to owe Hellenic approx $300m and its previous owner, Germany's HDW, $250m. Centre of the dispute are two contracts for the Greek Navy which were developed by HDW, now owned by TMS.
The Greeks have refused to accept delivery on four submarines claiming they are defective. Workers say the yard has tried unsuccessfully to sell the vessels to Poland and Taiwan.
In a parallel development protesting shipyard workers from the Perama repair zone set fires outside the Labour and Social Insurance ministry in central Athens on October 15. The workers called on minister Andreas Loverdos to demand higher unemployment and social security payments. They also want the Perama repair zone to be upgraded so that it can assume the Navy contracts held by Hellenic.
-- Filed: 2009-10-16
Source: www.newsfront.gr


Greeks respond to manning changes
---Maintaining the quality of officers is now the challenge for an expanding Greek registry. Konstantin Tsolakis reports
Impressive growth
The growth in tonnage is largely due to the increasing number of Greek owners who choose the home register for their modern, bigger newbuildings while keeping their older, smaller tonnage registered abroad. This trend was first observed at the start of this decade. By showing a willingness to support the Greek flag, Greek owners believed they would convince their government to modify regulations that rendered the flag less competitive. In addition, they wanted to distance themselves from their former habit of flying flags of convenience.
Newbuildings that enter the registry tend to be larger than the old tonnage they substitute. Whereas ships aged 10-30 years and over account for 70.8% of Greek-flagged vessels, 26.4M gt of the total 41.4M gt is under 10 years old. On 30 June, the average age of Greek-flagged ships was 9.5 years, compared to 11.9 years which is the average for Greek-owned ships irrespective of flag.
Source: Fairplay International Shipping Weekly - Feature 15 Oct 2009


Katseli meets union leaders
Referring to the COSCO agreement and the ongoing strike action by 1,500 dockworkers at the Port of Piraeus, Katseli stated that the outstanding issues will be settled through dialogue. She underlined that an agreement has been reached with COSCO affiliate SEP S.A. to proceed with substantive dialogue immediately and its conclusions will have a retrospective effect beginning Oct. 1, 2009.
The Greek Shipowners Union (EEE) board outlined the problems of the shipping sector, while the OLP representatives handed over to the minister the files with the COSCO 35-year-long contract. A memorandum with the problems faced by the roughly 20,000 Greek seamen was also presented to the minister by the PNO delegation.
Source: http://www.ana.gr/anaweb/user/showplain?maindoc=8041183&maindocimg=8023832&service=98


Port strike weighs on new minister
---Pressure is mounting on Economy, Competitiveness and Merchant Marine Minister Louka Katseli to quickly end a strike by stevedores at Piraeus Port (OLP), which is entering its third week.
Katseli has spoken to both sides and yesterday met with a group of Piraeus MPs to discuss ways of ending the strike.
However, PASOK finds itself in a bind as it had suggested in the election campaign that it would review the Cosco deal and could try to renegotiate some parts of the contract. The dockworkers are now pressing the government to keep its word and get a better deal for them.
Katseli does not appear to have made any headway in finding common ground between the two sides and PASOK sources were yesterday suggesting that she was not doing enough to make it clear to the stevedores that the port has to reopen. The government denied that it is considering appointing someone else to conduct the negotiations.
Cosco sources told Kathimerini that representatives of the Chinese firm, which is not willing to renegotiate the contract, have only met once, last Friday, with Katseli. They also suggested that if the strike continues, the firm will consider taking legal action and seek compensation.
Source: http://www.ekathimerini.com/4dcgi/_w_articles_politics_100010_16/10/2009_111608


---Nigel Lowry - Tuesday 13 October 2009
PRIVATE equity funds have yet to make an impact on shipping but their time could be quickly coming, a partner at prominent law firm Holman Fenwick Willan has said.
Commercial drivers prompting interest in private equity include insufficient bank financing, attractive investment opportunities and a hole that is likely to appear in financing of newbuildings, Jonathan Campbell said.
Speaking on the sidelines of a fully subscribed HFW private equity seminar for shipowners in Greece, Mr Campbell said there was plenty of interest among the Greek shipping community.
HFW steers them to talking directly with shipowners, said Mr Campbell.
Source: www.lloydslist.com


Grand Union Inc. Aquires Control of Aries Maritime Transport Limited
Michail S. Zolotas and Nicholas G. Fistes, acquired 18,977,778 newly issued common shares in
Aries in exchange for three capesize drybulk carriers. Of such shares, 2,666,667 were
transferred to Rocket Marine Inc., a company controlled by two former directors and principal
shareholders in Aries, in exchange for Rocket and its affiliates entering into a voting agreement
with Grandunion. Under this voting agreement, Grandunion controls the voting rights relating to
the shares owned by Rocket and its affiliates. Grandunion now owns approximately 34.2% of
outstanding shares.
restructuring the loan with the existing lending syndicate and bringing in new, much needed
existing shareholders, as we have invested in Aries and acquired a significant equity position
with the belief that we can create value in the long run. We can immediately benefit through
immediately focus on repositioning Aries, with a view to opportunistically exp
anding in the drybulk and tanker sectors. We will also leverage our operating expertise by
bringing in-house technical and commercial management, reducing operating expenses,
governance practices and financial reporting as we emphasize an internal culture of corporate
Management and Board Constituency
The new management of the Company will be led by Nicholas G. Fistes as Executive Chairman,
Michail S. Zolotas as Chief Executive Officer and Allan Shaw as Chief Financial Officer. The
new management team intends to build the technical and commercial group of Aries and
incorporate the existing Aries team into their operations
The full Board is set forth below:
Mr. Nicholas G. Fistes - Executive Chairman;
Mr. Michail S. Zolotas - Deputy Chairman
Mr. Masaaki Kohsaka - Non-Executive Director
Mr. Spyros Gianniotis - Non-executive Director
Mr. Apostolos Tsitsirakis - Non-executive Director; and
Mr. Panagiotis Skiadas - Non-executive Director
Financing Arrangements
Convertible Notes
The Company has issued $145 million in aggregate principal amount of 7% senior unsecured
convertible notes due 2015 (the "Convertible Notes"), convertible into common shares at a
conversion price of $0.75 per share. Investment Bank of Greece currently holds a small portion
of the outstanding principal amount and the remainder is owned by a company controlled by Mr.
Zolotas, financed by Marfin Egnatia Bank S.A. The proceeds of the Convertible Notes are
expected to be used for general corporate purposes, to fund vessel acquisitions and to partially
repay existing indebtedness.
Bank Financing
bond proceeds to pay down the new credit facility, which has been structured to provide
favorable amortization, with $163.4 million repayment due at the end of the five year term.
Fleet Composition
four Panamax tankers (all double-hulled)
five MR tankers (three double-hulled)
two container vessels (2,917 TEU)
three capesize drybulk vessels totaling 477,000 dwt
Five of the Company's 14 vessels are secured on period charters. Charters for two of the
Company's products tanker vessels currently have profit-sharing components as well as one
Capesize vessel.
Advisors
S. Goldman Advisors LLC acted as financial advisor to Grandunion Inc., with Mintz Levin
acting as lead counsel and V&P Law Firm acting as admiralty and local counsel.
About Aries Maritime Transport Limited
Aries Maritime Transport Limited is an international shipping company that owns and operates
products tankers, container vessels and drybulk carriers. For more information please visit our
website at www.ariesmaritime.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor
provisions of the United States Private Securities Litigation Reform Act of 1995. Forwardlooking
statements in this press release include matters that involve known and unknown risks,
uncertainties and other factors that may cause actual results to differ materially from results
expressed or implied by this press release. Actual results may differ Aries undertakes no
obligation and does not intend to update these forward-looking statements to reflect events or
circumstances occurring after the date of this press release. You are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the date of this press
release. All forward-looking statements are qualified in their entirety by this cautionary
statement.
CONTACT:
Investor Relations
CJP Communications
Laura Kowalcyk
+1 212 279 3115 (x209)
Source: http://www.ariesmaritime.com/pop_news.php?news_id=114


Watch The Greeks!!
---Article in Marine Money Magazine, October issue 2009. By Megan McCurdy, Poten & Partners, Inc.
Greeks and shipping have been inextricably entwined since the beginning. The nature of Greek-controlled assets has evolved over time but has remained highly influential.
The camaraderie and infighting that characterized the Greek shipping community shaped the entire industry. Information
sharing on the streets of Piraeus has demonstrated an ability to wield influence in other parts of the world. When the markets move, all eyes turn to the Greeks.
In 1995, Greece was the third largest flag state for tankers with over 200 vessels over 30,000 DWT registered.
Today, that number has increased to 335 tankers, but accounts for roughly the same percentage of the total fleet.
While the flag state represents mostly the commitment of the Greek shipowner to supporting domestic employment, a better metric of the Greek communities reach is a ship-by-ship analysis of control.
In 1995, the Greek shipping presence in the world tanker fleet was less than today at around 13% of the cumulative
fleet of 2,200 tankers. Of a current fleet of nearly 3,500 tankers, the Greek shipping community has successfully managed to expand control to 20%. It is interesting to note, that Greek owners have reduced their exposure from 2008 levels in recent months, becoming net asset sellers into the peak, perhaps sensing the collapse.
Traditionally, family money has been and still is the means by which the Greek community invested in shipping, but the
last boom in the cycle demonstrated the interest in tapping into public sources of investment.
Since 2005, public money supplemented this with about $15 billion of capital to the global shipping market,
almost half of which was raised by Greek companies. During this period, 34 shipping companies went public, 20 of which were Greek. Public money, combined with increased liquidity from banks, pushed asset prices higher and contributed to the newbuilding frenzy.
The current tanker orderbook numbers in excess of 1,100 vessels above 30,000 DWT.
Greek shipowners account for around 160 vessels, or 15% of this book. Greek exposure to newbuildings is less, on a percentage basis, than the size of the existing fleet, suggesting a possible insight.
Greek owners are most exposed in the Suezmax size, with 50 vessels yet to deliver. The Greeks account for nearly 35%
of the total Suezmax orderbook, whereas their share in other sectors fluctuates between 10 and 20 percent of the orderbook.
The rapid expansion of the Suezmax orderbook over the past two years likely reflects two conditions; high VLCC prices prompting an interest in the next-smallest vessel size, and newer entrants to shipping possibly taking cues from Greek shipowners. Interestingly enough, the Suezmax sector has held up relatively well compared to other asset classes during the current downturn.
Even under normal financial circumstances, Greek newbuilding commitments would be considered sizeable, but in the aftermath of a financial crisis these commitments have become questionable. Based on the average price of the vessels on order, the Greek shipowners are responsible for $13 billion in total. Adjusting for payments that have likely been made during the construction process, it can be estimated that the outstanding total is in the $6 billion range. Of that total, around $5 billion is associated with the VLCC and Suezmax orderbook.
Traditional bank lending and other sources of debt are undoubtedly scarcer today, forcing many owners to dip into their own pockets to meet equity requirements. Maintenance of the loan-to-value clauses in a declining asset price environment adds more pressure.
Further complications stem from the fact that Greeks have had to look beyond national borders for debt, making the sources of capital even more uncertain in a nationalized banking environment.
Many shipowners will have to decide whether it is worth parting with cash to keep these projects in the pipeline or abandoning the effort and losing their sunken capital.
At present, most of the Greek shipowners seem prepared to weather the storm. The very limited number of reported cancellations across the market to date, suggest a consensus view that the freight markets will indeed recover. Until the public markets recover, expect the major sources of funding to remain private. Some shipowners will be able to draw on relationships with banks to help make ends meet with the shipyards, but it is unlikely Greece will see the funding required to build the orderbook from that source alone. All shipowners will need to be creative, even if it means partnering up with other sources of private equity. As Greeks are no strangers to private equity, expect that they will once again be leading the pack.
Source: http://www.marinemoney.com/freshlyminted/MMArchive/2009/mm_mag_2009_10_web.pdf


Kassian accuses US over 'neglect'
---A Greek owner on probation adopted a strict green regime -- only to find no one was paying attention.
A strange reversal of roles, a Greek shipowner is in court accusing US legal authorities of failing to take notice of its oily waste.
Kassian Maritime Navigation Agency Ltd is asking a federal judge in Florida to shorten the period of probation - a reward that had been promised for implementing strict environmental routines.
But the convicted environmental offender's lawyers suggest that their reformed client has laboured to attract the attention of the officials who are supposed to be supervising its efforts to mend its ways - raising questions about whether the US is interested in changing the environmental behaviour of shipowners or only in racking up convictions and million-dollar fines.
Kassian complains that the US Department of Justice (DOJ) has neglected to supervise Kassian's compliance with terms of a 2007 plea bargain, despite extensive documentation of compliance, according to documents filed in the Middle District of Florida federal court by Kassian's lawyer, George Chalos of Long Island-based Chalos & Co.
In November 2006, Kassian's 71,000-dwt North Princess (built 1996) called at Jacksonville's St Johns River terminal with a load of Columbian coal and was promptly boarded by US inspectors. An investigation confirmed whistle-blower accusations that the ship had dumped oily water on the high seas and then falsified its logbooks to conceal the ocean fouling.
In August 2007, following a grand jury indictment, Kassian and prosecutors negotiated terms that included a $1m fine and a $300,000 contribution to a fund that protects US wildlife.
Another part of the deal was a 30-month probation period that could be cut to 24 months if Kassian designed and implemented a strict shipboard environmental compliance plan (ECP).
The relevant part of the plea agreement reads: "The defendant agrees that 30 months is an appropriate term of probation. The period of probation shall include as a condition of probation the implementation of an ECP, as described in attachment A. The defendant may after 24 months move for early termination of the probation consistent with [relevant US law]. The government's consent to any such motion will not be unreasonably withheld." Kassian followed up with a plan so strict that when engineers want to use oily-water separators or sludge incinerators, they must contact Athens specifying the volumes to be processed - only using such equipment by daylight. Kassian has voluntarily extended the plan to two ships delivered subsequent to the plea bargain. Its ships have called frequently at US ports and undergone US Coast Guard (USCG) inspection.
A court-appointed monitor in the case has testified in glowing terms to "solid evidence of a commitment to environmental stewardship" by onshore supervisors and shipboard officers of all rank.
Unfortunately for Kassian, when it began enquiring in April about its promised early release from probation, it found that the prosecutors who had convicted it had all gone to private practice and nobody knew what it was talking about.
"It was quite clear that no one from the government appeared to be familiar with the case and no one had been actively following Kassian's progress during the previous two years," Chalos wrote to judge Henry Lee Adams Jr.
In August, Chalos and Kassian met in Washington with DOJ and USCG officials to explain to them the nuts and bolts of the compliance plan the US had demanded. According to Chalos, the government made no objections to what they learned.
But when pressed to reveal what position they would take on Kassian's motion for early release from probation, they said without further explanation that they would oppose it.
DOJ lawyers John Guard, John Sciortino and Joseph Poux have referred TradeWinds's enquiries about the case to a press handler. "We will respond in court at the appropriate time," wrote DOJ representative Andrew Ames.
Ames did make a substantial response to the extent of emphatically quoting the first sentence quoted above, on the parties' agreement that 30 months would be an appropriate sentence.
Kassian lawyer Chalos is apparently more interested in the sentence that says the DOJ will not unreasonably withhold its consent to cut that period short if Kassian cleaned up its act.
As TradeWinds went to press, Judge Adams had just issued an order that the government probation officer advise the court of its position on Kassian's request by next Monday.
By Bob Rust Stamford
Published: 23:00 GMT, 15 Oct 2009 | last updated: 07:53 GMT, 16 Oct 2009
Source: www.tradewinds.no


Globus Maritime Announces Agreement to Sell Handymax Dry Bulk Carrier
Delivery to the new owners is expected to take place between November 1 and November 30, 2009, at the option of Globus. Taking depreciation and amortization into account the Company expects to realize a book loss of approximately US$3.5 million on this sale. Globus intends to utilize the cash proceeds to repay bank debt and strengthen its liquidity.
About Globus Maritime Limited
Globus is a global provider of seaborne transportation services for dry bulk cargoes, including among others iron ore, coal, grain, cement, and fertilizers, along worldwide shipping routes. On September 30, 2009, Globus owned one Panamax and five Handymax vessels, with a weighted average age of approximately 11.7 years and a total carrying capacity of 299,250 DWT.
Globus is listed on the AIM of the London Stock Exchange under ticker GLBS. Jefferies International Limited is acting as nominated adviser and broker to the Company.
Source: http://www.globusmaritime.gr/press/globus121009.pdf


FreeSeas Announces Appointment of Alexandros Mylonas as Chief Financial Officer
---PIRAEUS, Greece, Oct. 14, 2009 (GLOBE NEWSWIRE) -- FreeSeas Inc. (Nasdaq:FREE) (Nasdaq:FREEW) (Nasdaq:FREEZ) ("FreeSeas"or the "Company"), a transporter of dry-bulk cargoes through the ownership and operation of a fleet of eight Handysize and two Handymax vessels, announced today the appointment of Alexandros Mylonas as the Company's new Chief Financial Officer, effective immediately.
Mr. Mylonas has over 10 years experience in banking, finance, capital markets and working with growth companies. He will be responsible for FreeSeas' overall financial planning and control, U.S. GAAP compliant financial reporting, SEC filings, and general corporate finance activities. Prior to joining FreeSeas, he was the Banking Executive of Cardiff Marine Inc., a ship management company operating tankers and dry bulk carriers, including the fleet of Dryships Inc.
Mr. Mylonas previously was an Account Manager with the Global Shipping Group of Fortis Bank and began his career as an Analyst at NBG Venture Capital, a private equity firm with a geographic focus on Greece and Southeast Europe. He holds an MBA from the Michigan State University and a Bachelor degree from the University of Macedonia in Thessaloniki, Greece. Mr. Dimitris Filippas, who was previously acting as CFO on an interim basis, shall continue as a Finance Manager.
Mr. Ion Varouxakis, Chief Executive Officer of FreeSeas, stated, "We are very pleased to welcome Alexandros to FreeSeas and expect his leadership and financial acumen will add increasing depth and diverse skills to our corporate finance team. Alexandros' expertise in the shipping industry, matched with his experience and financial training as a banker for public and private companies in various stages of development will be a valuable asset. I'm confident that Alexandros will help us to keep a stringent focus on the strength of our balance sheet, efficient operating structure, and overall competitiveness."
Mr. Mylonas noted, "I am excited to be joining FreeSeas, and have been impressed by Ion, the financial team, and the cost effectiveness of the Company's operations. I look forward to working with management as we continue to focus on driving results and creating value for our shareholders."
About FreeSeas Inc.
FreeSeas Inc. is a Marshall Islands corporation with principal offices in Piraeus, Greece. FreeSeas is engaged in the transportation of dry bulk cargoes through the ownership and operation of dry bulk carriers. Currently, it has a fleet of eight Handysize vessels and two Handymax vessels. FreeSeas' common stock and warrants trade on the NASDAQ Global Market under the symbols FREE, FREEW and FREEZ, respectively. Risks and uncertainties are described in reports filed by FreeSeas Inc. with the U.S. Securities and Exchange Commission, which can be obtained free of charge on the SEC's website at http://www.sec.gov. For more information about FreeSeas Inc., please visit the corporate website, http://www.freeseas.gr.
Source: http://www.freeseas.gr/index-6.html


Seanergy Maritime Holdings Corp. Announces Bet Signing of Supplemental Agreement to its Loan
About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp., the successor to Seanergy Maritime Corp., is a Marshall Islands corporation with its executive offices in Athens, Greece. The Company is engaged in the transportation of dry bulk cargoes through the control and operation of dry bulk carriers. The Company purchased and took delivery of six dry bulk carriers in the third and fourth quarters of 2008 from companies associated with members of the Restis family. In August 2009, the Company acquired a controlling interest in Bulk Energy Transport (Holdings) Limited, which owns five drybulk carriers, four Capesize and one Panamax.
As a result, the Company's current controlled fleet includes 11 dry bulk carriers (4 Capesize, 3 Panamax, 2 Supramax and 2 Handysize vessels) with a total carrying capacity of 1,043,296 dwt and an average age of 13 years.
For further information please visit our website at www.seanergymaritime.com
Source: http://www.seanergymaritime.com/press/seanergy101209.pdf


Oceanfreight Inc. Announces New Charter
---October 13, 2009 - Athens, Greece - OceanFreight Inc., (NASDAQ:OCNF) a global provider of seaborne transportation services for both drybulk and energy commodities, today announced a new charter for the recently acquired 180,000DWT, 2005 built capesize vessel. Upon delivery, the vessel will be renamed M/V Montecristo and will commence employment on a time charter for a minimum period of four years at a gross rate of $23,500 per day and a maximum of 8 years at an average gross rate of $24,125 per day for the optional period.
About OceanFreight Inc.
OceanFreight Inc. is an owner and operator of both drybulk and tanker vessels that operate worldwide. As of the day of this release, OceanFreight owns a fleet of 12 vessels comprising of 8 drybulk vessels (2 Capesize, 6 Panamaxes) and 4 crude carrier tankers (1 Suezmax, 3 Aframaxes) with a combined deadweight tonnage of about 1.2 million tons.
OceanFreight Inc.'s common stock is listed on the NASDAQ Global Market where it trades under the symbol "OCNF."
Visit our website at www.oceanfreightinc.com.
Source: http://www.oceanfreightinc.com/press.html


---Leave it to Peter G. Current thinking suggests that the investing world is trading dry shares as a proxy for the BDI.
Genco then announced on Wednesday that the new company, to be led by John Wobensmith, had filed a registration for a proposed initial public offering of common shares (Class A shares).With only a red herring filed at the time of writing, details are scant, however the registration document indicates a maximum offering of $230 million. The book runners are Morgan Stanley and Dahlman Rose.
For its commitment to the venture, Genco intends to invest $75 million in exchange for Class B shares, which carrying voting rights of 15 votes per share giving it control of in excess of 50% of the votes. Proceeds will be used for vessel acquisitions and working capital.
The company intends to focus mainly on Capesize, Panamax and Supramax vessels and expects that it will acquire five to seven vessels by the end of 2010. Although the acquisitions will be funded with equity capital, Baltic intends to have a revolving credit for the purpose of bridge financing. The vessels will trade in the spot market or on spot related charters.
Baltic intends to pay a variable quarterly dividend equal to Cash Available for Distribution, which represents net income less cash expenditures for capital items related to the existing fleet other than vessel acquisitions and related expenses, plus non-cash compensation, during the previous quarter, subject to any additional reserves required for the prudent conduct of the business, the terms of any credit facilities, and other cash needs.
Although a blind pool, Baltic is backed by one of the top dry bulk companies in the public universe, Genco, which will enter into a management agreement with the company to provide technical and commercial management as well as administrative and strategic services. Then, too, there is the involvement of Peter G, an astute investor, who puts the interests of the shareholders first. Together we think this offsets any perceived risk.
Now, here is a vehicle to bet on China and a growing demand for commodities, which will have the added benefit of volatility for the traders out there. Below please find our preliminary Guts of the Deal that we will update as the deal progresses.
Source: http://www.marinemoney.com/freshlyminted/PDFFiles/2009/FreshlyMinted-Current.pdf


Greek Shipping Summit 2009 - World Tanker Forum, 3 November 2009
---Managing the downturn and investing for the upturn, and when and how to position for profit are the focus at this year's Greek Shipping Summit - World Tanker forum. The event, to be held November 3 at the Ledra Marriott Hotel, Athens, will take a thorough look at the present situation in the industry, discuss the sector's forecast and the new arising opportunities. With tankers of all types making up about one third of the Greek-controlled fleet and while the expertise of the older generation has laid the foundations, many of the owners now involved in the sector are younger generation players who bring new thinking to their business. With the crisis still unfolding, the summit will be asking if the young Greek tanker owners are making the right decisions.
This year the afternoon session of the summit sees a new format interactive debate involving a panel of high-profile players and delegates focusing on selected questions submitted by conference participants.
Organised by Seatrade and TradeWinds, discussions will be led by personalities including: Richard Fulford-Smith, managing partner, RS Platou LLP; Richard Gilmore, director, Gas Fleet, MaranGas Maritime Inc; Stavros Hatzigrigoris, md, Maran Tankers Management Inc; Demetris Nenes, vp, OceanFreight Inc; Lars Dencker Nielsen, global chartering manager, BP Shipping Ltd; Leon Papitsas, md Atlas Maritime Inc; Denis Petropoulos, joint md, Braemar Seascope Ltd; Ted Petropoulos, md, Petrofin SA; Evangelos Pistiolis, ceo Top Ships Inc; Ugo Salerno, ceo RINA SpA; Tassos Sofos, director, head of Energy & Infrastructure Unit, Kantor Management Consultants; Stavros D Tsolakis, vp DST Shipping Group & visiting professor Singapore Management University; and Harry Vafias, ceo Vafias Group. Further information: E-mail: [email protected]
The registration fee covers the full Greek Shipping Summit, refreshments and lunch on the day of the conference, the social programme, documentation and access to the speeches. To register go to > http://www.seatrade-global.com/secure/gss09_1.asp
To view Program, go to > http://www.greekshippingsummit.com/programme09.htm
Companies attending GSS 2009 - World Tanker Forum include:
ABS Europe
American Bureau of Shipping
Aries Energy Corporation
Atlas Maritime Ltd
BP Shipping Ltd
Braemar Seascope
BIMCO
DST Shipping Group
Equinox Maritime Ltd
Inchcape Shipping Services
International Registries Inc.
Kantor Management Consultants
Lotus Shipping Company Limited
Maran Gas Maritime Inc
Maran Tankers Management
Marine Plus S.A.
Meandros Lines S.A
NITC
Ocean Freight Inc.
Petrofin SA
Phoenix Energy Navigation
PPG Coatings-Services Greece S.A.
RINA Hellas
RS Platou
Ship Equip AS
Springfield Shipping Co. Panama S.A.
Thomas Cooper International
Top Ships Inc
V. Ships Greece Ltd
Vafias Group
Wartsila Greece S.A.
Source: http://www.greekshippingsummit.com/


7th Digital Ship Athens conference, 11-12 November 2009
---Invitation to register for 7th Digital Ship Athens conference, November 11-12, Glyfada Golf Club, Athens
Learn, meet, discuss and share the latest developments in maritime satellite communications, software, navigation technology - how it can improve safety, efficiency and quality of life - in the pleasant environment of Athens Glyfada Golf Club, about 20 minutes taxi from Athens airport.
Our conference has presentations from Exmar, France Telecom Marine, Athenian Sea Carriers, Gourdomichalis Maritime, Neptune Lines, Samos Steamship, Olympic Shipping, Dorian Hellas, Capital Ship Management.
Talking about their experiences with Inmarsat FleetBroadband and VSAT - using IT to help manage performance - building a safety culture - software for risk management and ensuring business continuity.
The conference has no admission charge for employees of shipping companies - including a taverna dinner sponsored by Inmarsat on November 11th.
You can also learn about condition monitoring and reliability centred monitoring; new ship position technologies which can help reduce fuel consumption and berthing safety; developments with Inmarsat FleetBroadband, collaborative online seafarer training; developments with VSAT; new HF radio service; improving safety management documentation; launch of new web hosted maritime software.
Delegates registered so far include Aegean Bulk, Allseas Marine, Almi Marine Management, Andriaki Shipping, Avin International, Brave Maritime, Centrofin Management Inc, Ceres LNG Services, Chronos Shipping, Ciel Shipmanagement S.A., Danaos Shipping, Dynacom Tankers Management, Eletson Corporation, Eurobulk / Euroseas, Fairsky Shipping and Trading, Franco Compania Naviera, Gulf Marine Management, Helios Shipping, Larus SA, Liquimar Tankers Management, New Kronos Star, Olympic Shipping and Management, OSG Ship Management, Rethymnis & Kulukundis, Samos Steamship
To see the full program, go to > http://www.thedigitalship.com/athens.htm
To register, go to > http://www.thedigitalship.com/conferences/athens/athens_registration.shtml
Source: http://www.thedigitalship.com/athens.htm