Greek Shipping News Cuts
Week 52 - 2005


Crew to sue shipowner

---The Russian crew of an elderly products carrier have arrived home after more than two years detention in Nigeria as suspected oil thieves or smugglers.
Taking legal action against the owner of the African Pride may however prove harder than they realise.
The generally reliable Equasis database which draws its information from maritime administrations, classification societies as well as protection and indemnity clubs records that the owner and manager of the 3,536-gt African Pride (built 1965) are unknown.
The crew of the African Pride were arrested when the ship was found laden with oil the authorities suspected had been stolen or was being smuggled.
The crew members indicated that they had signed a document while still prisoners declaring they had no claims, but Russian businessman and UNESCO goodwill ambassador, Ara Abramyan Abramyan, who helped secure their release is advising them to consult lawyers.
Abramyan, told the Novosti news agency that the seafarers had been illegally imprisoned and the Greek company should offer compensation.
Source:, By Jim Mulrenan in London, published: 10:42 GMT, 28 December 2005 | last updated: 10:46 GMT, 28 December 2005

London Stock Exchange no match for Nasdaq in attracting shipping firms
A few weeks ago, a series of positive signs had actually given London the chance to become a European match for the Nasdaq, as Greek shipping company Goldenport Holdings filed an application to be listed on the LSE. As the industry publication TradeWinds previously noted, was this listing to prove successful many more would not hesitate to follow suit, particularly from the Greek shipping community.
In practice, however, it was proven that institutional investors in Europe are not yet ready to place their capital in shipping. Goldenport Holdings, which belongs to the Dragnis family, has not managed to gather the interest expected, and has opted not to proceed with its public listing. After all, its share price came to levels that were far below those anticipated.
All this meant that conditions for the rise of the LSE were ideal, especially since a new market was set up, the Alternative Investment Market (AIM), aimed at attracting smaller shipping companies. This temporarily appeared successful as it offers advantages such as laxer regulations, no obligation for companies to present their activity for three consecutive years and lower public listing costs. Certainly after the failure of Goldenport, any theoretical interest reportedly expressed by Greek shipping companies is now history.
Source: By Nikos Roussanoglou -, 30 Dec 2005

A call for intenational solidariy
---A European strike is organized dying 16 -17 of January 2006 by maritime and dockworkers. The strike will be held in 29 ports of 10 countries throughout Europe. The strikers are against the new European direction, regarding the free sea trade. Greek marine transport workers, along with the solidarity of the Antiauthoritarian Movement, will participate in the forthcoming strike by closing the ports in Piraeus, Patra & Thessaloniki.
You may contact directly or send your solidarity statements to the Greek Maritime and Dockworkers by using the following email:
Source: by Antiauthoritarian Movement Saturday, Dec 31 2005, 5:27pm, address:, greece / turkey / cyprus / workplace struggles / news report