Greek Shipping News Cuts
Week 37 - 2007


Disaster relief items heading to Greece

'Overwhelming' generosity for victims of August forest fires
---A shipping container crammed with clothing, shoes, sheets, blankets, toys, toiletries and notebooks is to arrive in the Greek port of Piraeus in three weeks.
When it's opened, the first item the recipients will see is a canvas suitcase with a message on cardboard taped to its outside: "Aid for our Greek patriots who found themselves in a terrible disaster. From Montreal, Canada."
Brush and forest fires raged through southern Greece in August, wiping out villages and killing at least 64 people. Thousands of Greeks are living in tents, their homes incinerated.
Montreal Greeks rallied around their relatives and compatriots, raising money and collecting essentials for families that lost everything.
"When you see a disaster on TV, it touches you, but when your neighbour has family there it puts a face to the tragedy," said Tommy Kulczk, Sun Youth Organization's director of emergency services.
Working with multicultural radio station CKDG, Kulczk coordinated the clothing drive.
''The outpouring was overwhelming,'' said CKDG general manager Marie Griffiths.
In one week, enough boxes and plastic bags full of clothing, bedding and school supplies poured into Sun Youth to fill a large storage room to the ceiling.
A human chain packed the shipping container yesterday at Sun Youth headquarters on St. Urbain St. The blue suitcase was the last item placed into the container before it was sealed.
Gerry Chountoumadis read about the aid drive in The Gazette. He bought some school supplies, gathered men's and women's clothing from his home and went to Sun Youth to deliver his donation.
"I'm Greek and I was touched by all the fires," Chountoumadis said. "I asked how they were shipping the donations and they had no idea, so I decided to help."
Chountoumadis works for Stefandri Freight Services, a freight forwarding company that regularly ships items to Greece and imports olive oil.
His company offered Sun Youth free logistical help in shipping and contacted Zim Container Lines, which offered to transport the donated items at a vastly reduced cost.
Many of the donations came from non-Greek Montrealers.
"We had one caller to the radio station tell us Greece doesn't belong only to the Greeks; it belongs to all humanity," Griffiths said.
The Red Cross continues to receive monetary donations to help fire victims. To donate online, browse, go to Fund Designation and click Fires in Greece.
Source: ANNE SUTHERLAND, The Gazette, Published: Saturday, September 15

---It may have taken 13 years of economic and diplomatic wrangling before Russia and Greece could sign their first energy sharing deal, but recently Athens and Moscow have started to reshape the routes by which Russian energy reaches western Europe and beyond, writes David Glass.
After many false starts, a Euro1 bill plus deal was signed last spring for the construction of a pipeline to carry Russian oil from the Black Sea to the Aegean bypassing the congested and more expensive Bosporus straits. There are still some hurdles to overcome before construction gets underway.
However, since it was officially agreed to build a 280 km pipeline linking the Bulgarian Black Sea port of Bourgas with the northern Greek port of Alexandroupolis, Russian president Vladimir Putin and Greece's Prime Minister, Costas Karamanlis have hardly taken breath as the two countries forge even closer ties.
The ink was hardly dry on the agreement between Russia, Greece and Bulgaria to build the pipeline, than it was confirmed Turkey, Greece and Italy would combine on a project to pipe gas from Asia to western Europe placing Greece even more firmly on the world energy map. Then at the end of June came news that Greece and Bulgaria rather than Turkey, are favoured by Russia for yet another energy project, the new South Stream gas pipeline.
Though there was no sign of Karamanlis on 23rd June when representatives of Russian gas giant Gazprom and Italy's energy leader ENI signed and shook hands on an agreement for the South Stream gas pipeline, Putin and Karamanlis discussed the project two days later while attending an economic forum on the Black Sea region in Istanbul.
The South Stream pipeline will channel Russian natural gas to Bulgaria, Greece and Italy, again bypassing Turkey. Karamanlis revealed the discussions, describing the South Stream as "a very important project which will help bolster energy security and also diversify supplies of natural gas".
The Bourgas/Alexandroupolis
pipeline is expected to be carrying Russian crude within three years. Putin said the project will help stabilise the oil supply in the world energy market.
Through a consortium of energy companies - Transneft, Rosneft and Gazprom - Moscow has 51% ownership in the pipeline, with Greece and Bulgaria splitting the remaining share equally.
Bosporus bypass
Under the plan, crude oil will be shipped from the Russian port of Novorossiysk to Bourgas and then piped to Alexandroupolis from where tankers will load and take supplies to world markets.
The pipeline will greatly reduce the need for tankers to transit the increasingly congested Bosporus and Turkish straits. Weather and congestion are causing long delays adding to the cost of shipping energy by tankers through the straits and most owners believe nothing will be lost by loading in the Med.
Transneft's ceo Semyon Vainshtok viewed the Greek port destination as part of Transneft's new oil export system, and he expected that, once the preliminary studies were done, construction would take 18 months.
While the South Stream project is still on the drawing board it does appear the Kremlin is keen to snub-out Turkey's desire to become a transit hub for Russian gas to southern and western Europe. Turkey put great effort into building the Baku-Ceyhan pipeline, to transport Azeri and Kazakh oil to the Eastern Med and then by tanker onto consumers. But this is a USbacked project supported by Washington's desire to route oil out of the Caspian and Central Asia, bypassing Russia.
However, the gas pipeline from Turkey, through Greece under the Adriatic to Italy is part of the Blue Stream pipeline, running north/south under the Black Sea, which carries Russian gas to Turkey for both domestic use and export. Work on the Turkey/ Greek sector of this pipeline is well underway.
Greek state-owned energy concern DEPA and Italy's Edison have signed a Euro950 mill agreement to build an 800 km link to the 300 km Greece/Turkey section. Some 600 km will run across Greece while 200 km will run under the Strait between Epirus in Greece and Otranto on the heel of Italy. Work on the underwater sector is to begin this year and is to be completed in 2010 at a cost put at Euro350 mill. Edison will take around 80% of the pipeline's annual 8 - 10 bill cu m throughput. The Turkish energy agent Botas may take a share of the venture at a later date.
Some Greek analysts have expressed concern that Athens is putting too many eggs in the Russian basket. However, while most of the Black Sea/Med oil pipeline profits will go to Russia, this project and the South Stream project points to Moscow now regarding Athens as a strategic partner, which is seen as a success for Greek foreign policy.
Source: TANKEROperator - August/September 2007

Dry bulk seen strong
Molaris also said that under the right conditions, Quintana would continue to expand its fleet, but ruled out acquiring competitors as the premium for existing ships was too high.
Charter rates for seaborne dry commodities trade have broken record after record this year on strong demand for raw materials, buoyant global economic growth and port congestion at key export centers.
Demand for raw materials is particularly high in China and India and congestion in ports in Brazil and Australia are the main drivers for freight costs. The market has remained strong despite recent turmoil in financial markets and concern over slowing US economic growth.
Red-hot demand for commodities, such as iron ore, coal, steel and grain has translated into rising prices for dry-bulk vessels.
Despite that price rise, the company is still in the market for new vessels, but only if it can guarantee long-term charters with fixed returns, he said. Some three-quarters of its 29-ship fleet are on long-term fixed-rate charters, and the rest operate in the spot market where rates fluctuate daily.
Source: By Nick Carey - Reuters,

Ocean Trade, S.A. et al v. Ziogas et al
Plaintiffs: Ocean Trade, S.A., Panaport Shipping, S.A., Pillsburg Navigation, S.A. and Sterling Navigation, S.A.
Defendants: Charalambos Ziogas, Maritime Financial Service Corp., Pegasus Shipholdings Corp., East West Maritime Investment, Ltd., Daisy Shipping, Ltd., Ellie Shipping, Ltd., Harmony Shipping, Ltd., Ocean Phoenix Shipping, Ltd., Asian Friendship Shipping, Ltd., Asian Unity Shipping, Ltd. and Olympian Goddess Shipping, Ltd.
Case Number: 1:2007cv07762
Filed: August 31, 2007
Court: New York Southern District Court
Office: Foley Square Office [ Court Info ]
County: XX Out of U.S.
Presiding Judge: Judge Loretta A. Preska
Nature of Suit: Contract - Marine
Cause: 28:1333 Admiralty
Jurisdiction: Federal Question
Jury Demanded By: None
Amount Demanded: $9,999,000.00
Access additional case information on PACER
Use the links below to access additional information about this case on the US Court's PACER system. A subscription to PACER is required.
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Marfin circles as Attica splashes EUR30.4M on two RoRo's
---As the market buzzes with rumours Marfin International Group (MIG) is in acquisition talks with ferry owner Attica Group, it has been confirmed Attica has splashed out EUR30.4m on the purchase of two charter-tied roro ships for delivery next month.
Other than say the ships were built in 1998 and 1999, the Athens Stock Exchange (ASE)-listed Pericles Panagopulos-controlled Attica would go no further than "it's a good deal with significant benefits for the company". Likewise, there has been no comment on reports Marfin is discussing the purchase of the entire stake held by Panagopulos in Attica, which operates ships under the Superfast Ferries and Blue Star Ferries banner.
Attica formally denied any knowledge of an interest in it on the part of the aggressive Italian ro-ropax group Grimaldi, in a September 5 statement to the ASE. Attica said that "at no time" did Grimaldi express "an interest" in the company. The denial was issued at the request of the ASE to clarify reports doing the rounds for weeks that Grimaldi was on the prowl.
The future of Attica has come into focus since the announcement mid-August that Alexander Panagopulos, 41, had quit as the company's ceo and vp. He was the heir presumptive at the Attica Group, the pacesetter in the revolution that has taken place in Greece's ferry sector over the past 15 years.
MIG's apparent interest in Attica comes just days after it withdrew from a jv with major US buyout equity group Kohberg Kravis Roberts & Co (KKR) to launch a EUR910m ($1.2bn) bid for Turkish shipping company, UN Ro-Ro Management Inc. MIG's Andreas Vgenopoulos was reported by Bloomberg as saying KKR would continue by itself in the bidding process for the all Turkish-flag fleet of nine ro-ros trading and four under construction.
It is understood the partners realised they had different goals. Vgenopoulos was reported by Bloomberg as saying MIG is not an equity or venture capitalist company, but rather seeks to create "value through financial engineering". It seeks to add value by "improving the management of a company it takes over".
The announcement of the two-ship purchase was released by Yannis Criticos, vp of Attica's board. Like the two roros presently owned by the group, the 1991-built Marin, 5,972gt, and Nordia, 7,395dwt, which are part of the Superfast fleet, the new acquisitions are thought to be ice-class.
Last month Attica announced a vastly improved 2007 second-quarter net income on the back of proceeds from the sale of its 22.25% holding in compatriot ferry owner Minoan Lines to the
Laskaridis group's Access Maritime SA for EUR94.69m ($126.9m). Attica booked a net profit of 27.7m on the sale which helped lift net income to EUR32.76m from the year ago figure of EUR2.37m. As the group consolidated and restructured its fleet, revenues in the 2007 period hit EUR85.3m, a 13% hike on the EUR75.7m in the same 2006 period.
Source:, 14 September 2007 Vol. 8 / No. 34

GL passes 70 million gt mark
---Over 6,300 vessels totaling 70 million gt are now under the regular technical supervision of Germanischer Lloyd.
The ship taking the Hamburg-headquartered classification society past the 70 million gt mark is the 1991-built, 24,606 gt bulk carrier John F, owned by Fairsky Shipping and Trading, of Greece. It flies the Cypriote flag, carries the class notation "100 A5 E1 ESP Bulk Carrier" and is ice-strengthened.
Fairsky Shipping and Trading S.A. operates 13 bulk carriers; they have an average age of 13.9 years. The business is run by C. Fostiropoulos and his family.
In only one year Germanischer Lloyd's fleet in service has grown by 10 million gt.
"This is a milestone in the history of the classification society," said Dr. Hermann J. Klein, Member of the Germanischer Lloyd Executive Board, at the classification society's Hellas Committee Meeting in Piraeus today. "Based on the incoming orders we expect a sustained growth rate again."
The current orderbook contains more than 1,400 vessels with 24 million gt under construction worldwide.
In response, Germanischer Lloyd has increased its staff level--particularly in East Asia.
In 2006, a total of 312 employees were hired worldwide. Since the beginning of this year, another 300-plus international positions have been filled. Today, Germanischer Lloyd has more than 4,100 employees worldwide.
Source: September 11, 2007,

Hellas Committee of Germanischer Lloyd Meets in Piraeus
How the current status of the relations between shipping and politics at the European Union are, was presented by Dr. Mary Papaschinopoulou M.L.E., IHK Nord Brussels. Mr. Wolfgang Schulze-Collenburg of Northern German ship financer HSH Nordbank explained the details of successful ship financing. Mr. George Banos of Moundreas George & Company informed about the booming Greek shipbuilding activities during the last ten years.
GL Area Manager Mediterranean/Southern Africa Athanasios Reisopoulos, presented the current status of activities in Greece and the area. The fleet has grown considerably: A total of 50 container vessels with a capacity of more than 300,000 TEU and more than 60 ships of different types with over three million dwt have been entrusted to Germanischer Lloyd by Greek shipowners within the last 18 months. In addition, several vessels in service were transferred to Germanischer Lloyd class.
GL Rules Pilot: Individualized Information
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The GL Rules Pilot registration page can be found at

Lloyd's Register creates Hellenic Lloyd's: Piraeus is clearly a key business centre for us.
---Lloyd's Register announces the creation of Hellenic Lloyd's, marking a new phase of strategic investment to further consolidate and increase its leading position in the Greek market. Greek shipowners currently account for some 20% of world tonnage and 26% of the worldwide Lloyd's Register-classed fleet.
Over the next twelve months a significant number of Greek technical and support staff will join Hellenic Lloyd's in a major expansion to increase both the capacity and technical capability of the Piraeus office. Great emphasis has been placed on further enhancing its technical expertise, which is available to serve the Greek community, and its ability to liaise with Far Eastern and European shipbuilders involved with Greek new construction business.
Lloyd's Register of Shipping and Industrial Services S.A. in Greece and Cyprus has changed its name to Hellenic Lloyd's S.A. to reflect the increasing activity, Hellenic identity and character of Lloyd's Register's Greek operations as well as the importance of the Greek shipping communities' contribution to Lloyd's Register.
David Moorhouse, Lloyd's Register Chairman, says: "We have long recognised the special importance of the Hellenic shipping industry and have continued to listen to the needs of the Hellenic community and the Administration. As a consequence of the ever-increasing importance of Greece in the global maritime arena, we have determined the need to expand and further optimise our services in Greece and Cyprus. This will ensure we are better placed to support Greek owners and operators in meeting the challenges posed by an increasingly regulated industry, addressing technical issues locally, and ensuring Greek maritime experience and expertise is included in our development of safe and pragmatic rules."
Apostolos Poulovassilis, Managing Director Hellenic Lloyd's and Lloyd's Register EMEA Area Manager for the East Mediterranean, says: "Piraeus is clearly a key business centre for us. As we invest and expand in this market we also want to demonstrate that although we are an integrated global business, we are in tune with the local needs of the Greek maritime community and are in a position to develop and continuously improve our services - to move forward together."
Lloyd's Register's National and Technical Committees in Greece are already key forums for industry dialogue. Hellenic Lloyd's will now enhance its committees as rule-proposing bodies to achieve effective and constructive dialogue with Greek shipping companies and industry bodies including The Union of Greek Shipowners and the Greek Ministry of Merchant Marine.
Capt. Panagiotis N. Tsakos, Chairman of Lloyd's Register's Hellenic Committee, met with Mr. Moorhouse and Mr. Poulovassilis last week to formally approve the new structure. Capt. Tsakos says: "Lloyd's Register is showing continued leadership in its support of Greek shipping and the Hellenic maritime tradition. I strongly support Hellenic Lloyd's and, working with my fellow Committee members, look forward to raising standards in pursuit of excellence in Greek shipping. In doing this we can ensure the future of a safe, efficient and clean industry."
Source: September 11, 2007 - LR/38/07

Easy Cruise adds Life to fleet
Source:, Daily News, 11 Sep 2007

Globus Maritime to Acquire a Panamax Bulkcarrier and Expands Fleet to Eight Vessels

Captain Paris Dragnis, Founder and CEO of Goldenport
---Athens, 11th September 2007
'The recovery in the dry-bulk market in 2007, combined with our long-standingand extensive relationships with top tier charter counterparties and our well positioned and enlarged fleet, enabled us to conclude bulk-carrier charters at rates significantly higher than those prevailing during the same period of 2006 thereby significantly enhancing our revenue and profitability. Furthermore, the deployment of the majority of our container fleet under long term charters translated into stable and predictable cash flows enabling us to expand our container fleet with the acquisition of three sub panamax container vessels scheduled for delivery in the second half of this year.
The interim dividend announced is 25% higher compared to that of 2006. It reflects our strong financial results for the period as well as confidence in sustainable performance for the rest of 2007 and beyond. As of today 99% of our fleet available days for 2007, 78% for 2008 and 53% for 2009 are already secured under fixed employment thereby enhancing the stability and predictability of our cash flows, while also enabling us to continue benefiting from the continued strength in both the dry bulk and container markets.
Since April 2006, when we became a public company, our fleet has grown to 25 vessels with the addition of six containers and three bulk carriers (and one bulk carrier sold). The container vessel acquisitions tripled our TEU capacity compared to the IPO fleet. Of the additions so far, six vessels are fully operational and the remaining three are expected to contribute to profitability from 2008.
Consistent with the investment principles outlined at the time of the IPO, the Company intends to acquire four new build 57,000 DWT bulk carriers from Cosco (Zhoushan) Shipyard with delivery in 2009 and two new build 2,500 TEU geared container vessels from Jiangsu Yangzijang Shipbuilding Co, with deliveries in 2010 and 2011. The total value of these acquisitions will be in excess of US$245m and the Company will seek shareholders' approval in order to proceed with their conclusion.
Assuming the current and the proposed acquisitions take place our fleet would reach thirty-one vessels (after the sale of 'Vana'), which would represent a 82% increase in the number of vessels compared to the IPO fleet, comprised of fifteen bulk carriers and sixteen containers. The additions to the bulk-carrier fleet would represent a 63% increase in terms of DWT and the additions to thecontainer segment of our fleet would represent an increase of 228% in terms of TEU nominal capacity. Out of the bulk carriers, ten vessels would be of theHandymax / Supramax size, whereas the container fleet would comprise mainly tensub-panamax vessels. The new acquisitions will enrich the mix and size of our fleet producing potentially higher returns compared to the fleet at IPO.
The strong free cash flow generated from the business since flotation has enabled us to expand further than the net IPO proceeds allowed. The implementation of the current and proposed acquisitions of the Company will be funded through cash reserves and debt financing.
We remain confident on the outlook of the dry-bulk and container markets for 2007. Our fleet is favourably positioned to take advantage of the booming dry bulk and container markets and to strongly support our financial performance in 2007 and well beyond, creating a platform of growth until the majority of the new build vessels become operational.'

Stealthgas septet going back to Stasco
---US-listed Stealthgas continues to be very active in the period market and has now reportedly extended charters on seven LPG carriers to Stasco.
Four of the ships are being extended for two years and three for one year, with all the deals to begin in 2008.
Stealthgas is said to have obtained considerable increases on the previous charter levels.
Stealthgas pursues a cautious charter policy and has almost 100% coverage for its fleet for the rest of 2007.
The company has also fixed an eighth vessel but it has gone to Petredec.
Stasco has extended the charters on the larger, 5,000-cbm Gas Icon (built 1994) and Gas Kalogeros (built 2007) for two more years at $290,000 per month.
Also fixed for two years are the 3,500-cbm Gas Legacy (built 1998) at $240,000 per month and 4,100-cbm Gas Spirit (built 2001) at $260,000 per month.
Stasco has taken the 4,100-cbm GasSincerity (built 2000) and Gas Zael (built 2001) for one year at $260,000 per month and 3,500-cbm Gas Shanghai (built 1999) for 12 months at $245,000 per month.
The 5,000-cbm Gas Nemesis (built 1995) was originally also part of the package but that ship has ended up with Petredec, which has fixed it for a year.
Stealthgas has further boosted its fleet by purchasing the Japanese-controlled, 3,200-cbm Venusgas (built 1997). Brokers say the price is around $10.5m.
The latest purchase takes the Stealthgas fleet to 41 units including the 7,000-cbm newbuilding Gas Haralambos , set for delivery in October.
Stasco has also taken another two LPG vessels. The 3,200-cbm Auteuil (built 1995) and 7,500-cbm Camelot (built 2002) are fixed for two years. Brokers suggest there are few small LPG carriers available for charters now and this is pushing rates up.
(Also see page 19)
By Trond Lillestolen, Oslo published: 14 September 2007

Invitation to the ALBA MBA in Shipping Program Presentation
Join the ALBA MBA in Shipping. Discover new horizons.
Program presentation: Wednesday 19 September at 19:00pm, Piraeus Marine Club
ALBA Graduate Business School
Athinas Ave & 2A Areos Str., 166 71, Vouliagmeni, Athens, Greece
T: +30 210 8964531-8, F: +30 210 8964737

Greek Shipping Summit 2007: Present Realities, Future Prospects.
---Join a top level line up of Greek shipowners, operators, bankers, lawyers and classification society officials at the 2nd Greek Shipping Summit in Athens.
A lively atmosphere surrounds this single day summit, summit jointly organised by TradeWinds and Seatrade.
At the inaugural event in November 2006, BHP Billiton Freight vice-president Gideon Oberholzer good naturedly fielded a barrage of questions after telling Greek owners they need to be more transparent and ensure their ships are correctly vetted.
Watson, Farley & Williams partner Stephen Tupper also stirred things up when he predicted that European Union (EU) competition rules will hit bulk-shipping pools, while Rear Admiral William D Baumgartner, judge advocate general of the US Coast Guard (USCG), went to great lengths to persuade the industry delegates that honesty is the best policy and that the USCG can really become best friends with shipowners.
Thenamaris director and chairman of Intertanko's Hellenic Forum, Emmanuel Vordonis, took delegates by surprise as he stepped down from the podium and paced around the room like a restless lion, expounding on the goal of excellence.
During the parliamentary style debate, that has become the hallmark of this summit, Tsakos commented lightheartedly that "Greece has a lot of oil but " unfortunately, olive oil". Speaking at the summit having just arrived back from a gruelling round-the-world trip, he admitted that despite his position as the head of a public company, he does not think it would benefit the Greek industry for all its small companies, which have been its backbone for so many years, to be eaten up by larger entities.
many years, to be eaten up by larger entities.
Click here for the conference programme

TMSA session at Digital Ship Athens
---TANKEROperator will run a half day conference at Digital Ship Athens, October 24th, free for shipping company employees to attend, about TMSA, how it highlights the shortage of competent officers, and possible solutions to the problem of needing more officers with ten years' experience today. Speakers include Antonis Iordanidis, TMSA Consultant, Alphamarine; Spyros Malandreniotis, group training manager, OSG Ship Management; and Apostolos Belokas, managing director, International Business Solutions (IBS). Chaired by Dimitris Lyras, Lyras Shipping. For further information please visit:

Greek shipowners & foreign ship finance executives to meet in Athens
Greek and foreign shipping industry executives are preparring for dicussions on ship finance today at the 9th Annual Marine Money Greek Ship Finance Forum, October 18 at the Athens Ledra Marriott.
In conjunction with the conference on the evening of October 18, Marine Money will celebrate its 20th Anniversary at a late evening party at the "Villa Mercedes" Club in Athens, co-hosted by Capital Maritime & Trading Corp.
Event Agenda (Details per 4 Sep. 2007)
09:00 Registration & Welcome Coffee
10:00 Opening Remarks
10:10 Selected Top Performing Listed Shipping companies: Strategy and Outlook
Mr. Evangelos M. Marinakis, Chairman, Capital Product Partners L.P.
Mr. Nikolas Tsakos, CEO, Tsakos Energy Navigation Limited
Mr. Stamatis Molaris, President & CEO, Quintana Maritime Ltd.
Mr. Stamatis N. Tsantanis, CFO, TOP Tankers Inc.
Mr. Akis Tsirigakis, CEO & President, Star Bulk Carriers Corp.
Mr. George Karageorgiou, CEO & Co-Founder, Globus Maritime Limited
Mr. George Achniotis, CFO, Navios Maritime Holdings Inc.
Moderator: Mr. David E.K .Frischkorn, Jr., Vice Chairman-Corporate Finance, Dahlman Rose & Co. LLC
10:50 Economic Outlook
Mr. Guy Verberne, Head of Economic Research, Fortis Bank
11:20 Coffee Break
11:50 Market Outlook
12:30 Bank of America - Global Capital Markets Capabilities with Local Coverage of the Greek Shipping Industry
Mr. Marios Koliopoulos, MD & Head of Greece & Cyprus, Bank of America N.A
12:40 Asset Risk Mitigation in the Greek Shipping Sector: Residual Value Guarantees and Operating Leases
Mr. Laurent Magloire, MD & Head of Banc of America Leasing Capital Markets International Originations
12:50 Debt Finance Discussion
13:30 Lunch Party co- hosted by TEN Limited
15:00 What safety measures can players in the shipping industry use to be where we want to be in 2010?
Mr. Stamatis Molaris, President & CEO, Quintana Maritime Ltd.
Mr. Theo Xenakoudis, Managing Director, International Registries, Inc. / Marshall Islands Registry
Mr. Anthony C. Argyropoulos, Managing Director, Cantor Fitzgerald & Company
Mr. Ronald Dal Bello, Senior Vice President, First Ship Lease (Switzerland) AG.
Mr. George Cambanis, Senior Partner, Deloitte. Hadjipavlou Sofianos & Cambanis S.A
Mr. Michael Bodouroglou, CEO, Paragon Shipping Inc.
Moderator: TBA, Credit Suisse
15:40 Capital Markets
Ms. Ismini E. Panayotides, Business Development, Excel Maritime Carriers Ltd.
Mr. Andrew Wilson, Managing Director, Equity Capital Markets, Banc of America Securities
Mr. Mark K. Friedman, Managing Director, Merrill Lynch & Co., Inc.
Mr. Antonios C. Backos, Partner, Orrick, Herrington & Sutcliffe LLP
Mr. Larry Rutkowski, Head of Maritime and Shipping Finance Practice Group, Seward & Kissel
Mr. Peter Wallace, Partner, Pareto Private Equity ASA
Mr. Michael Tartsinis, CEO, Global Oceanic Carriers Ltd
Moderator: Mr. Loli Wu, Managing Director-Global Transportation-Investment Banking, Citigroup Global Markets Inc.
16:30 Coffee Break
Can the good times last?
Mr. Cees Kamphof, Executive Director, Principal Finance Shipping, Fortis Bank
Mr. Nikolas Tsakos, CEO, Tsakos Energy Navigation Limited
Mr. Hamish Norton, Jefferies & Company, Inc.
Speaker TBA, BNP Paribas
Speaker TBA, Ernst & Young S.A
Moderator: Robert E. Lustrin, Partner, Capital Markets Group, Seward & Kissel LLP
17:45 Closing Remarks
18:00 Cocktail Closing Reception co-hosted by International Registries, Inc.
List with Participants 2006 is available at >
The Event Agenda, the Registration Form and other practical information are available on the Marine Money website at: