Greek Shipping News Cuts
Week 15 - 2008


Shipping urged to become involved in EC policy-making

---Greek shipping was urged to make its voice heard in Brussels as the EU Commission moves forward with a heavy workload which will impact ship operation. "Make your voice heard in the halls of EU decision-making," said Mary Papaschinopoulou, a consultant based in Brussels.
Policies and changes in national and international regulations that strongly influence shipping are presently being debated in Brussels, Papaschinopoulou warned when addressing the Hellenic Technical Committee of Germanischer Lloyd, April 3.
Noting the Greek fleet continues to grow, Papaschinopoulou pointed out it will face a new set of draft regulations and directives. She said at least seven proposals are passing through various phases of the decision-making process. "Topics such as compliance with flag state requirements, investigation of maritime transport accidents, ship inspection and surveying organisations, liability of passenger carriers, a maritime traffic monitoring system, port state control, and civil liability of shipowners are on the agenda," she said.
Papaschinopoulou said that, in addition, the EU Commission is heavily involved in implementing a stricter emission control regime within the framework of EU maritime policy as defined in the Green Paper. With the launch of a public
consultation on a "European maritime transport area without barriers", the announced White Paper details its maritime transport policy for 2008-2018. An initiative to extend EU passenger protection to all modes of transport by 2008, the EU Commission demonstrates its willingness to build a new environment for the maritime industry.--- Filed: 2008-04-07
Source: Issue nr. 14 (11 April 2008) of Newsfront Greek Shipping Intelligence newsletter.

Union of Greek Shipowners to curb pollutant emissions
Source:, 7 April 2008 - Issue : 776

---Friday, 11 April 2008
From their part, Hellenic ship owners are more than positive when it comes to commenting on the conditions prevailing in the market. Mr. George Economou, President of Dryships was recently quoted as saying that indeed the image of Athens has improved significantly these last years and is now a maritime centre comparable to Oslo or Hong Kong. This is further fortified by the presence of an increasing number of banks, insurance, law and shipbroking companies in Athens. Another important factor is that finding proper shipping personnel is easier, than in New York, where one has to compete with big financing companies and other Wall Street conglomerates. A major shipping company is considered among the top employers in Athens.
Makis Theodoratos, Hellenic Shipping News

Professors' work honoured by Hellenic ship finance league
---Nigel Lowry Athens - Tuesday 1 April 2008
TWO of the best known professors in shipping have each received the honour of gaining special recognition from the Association of Banking and Financial Executives of Hellenic Shipping, writes Nigel Lowry in Athens.
Prof Tzoannos was cited for his various educational and industry achievements, as a professor at the Athens University of Economics and Business and as an economics adviser to the Union of Greek Shipowners, among other roles.

Mystery tanker buyer revealed
---Expanding Greek player Worldwide Green Tankers has been busy on the acquisition front.
Worldwide Green Tankers of Greece has increased its fleet by eight ships in the past eight months and emerged as the mystery buyer behind a number of deals.
The company's latest acquisition is of a suezmax tanker the 150,000-dwt Stainless (built 1992) formerly controlled by US-listed Top Ships. The ship was reported sold in February to an undisclosed buyer with no price given. Observers say the tanker is worth above $55m.
Worldwide Green is not willing to comment on the deal but sources say it has bought another seven tankers since last summer.
In December, the company bought two panamaxes from Liquimar Tankers of Greece, the 94,000-dwt double-sided Frixos (built 1987) and Elli (built 1986). Brokers reported the ships sold for $31m en bloc, although the seller said at the time the price was much higher.
Around at the same time, the owner acquired another panamax tanker, the 60,000-dwt Dart (ex- Dartagnan , built 1984) from compatriot Tsakos Shipping&Trading. No price has been revealed for the deal, which was widely unreported until now.
Worldwide Green's panamax push was initiated with a pair of ships bought from George Economou's Drytank last summer. These are the 63,000-dwt My Julietta and 60,000-dwt Great News (ex- Agrari and ex- Saetta , both built 1984). The pair was reported sold in June to unidentified buyers for $13.5m each. Both are working in Heidmar's panamax pool.
Worldwide Green, which has recently changed its name from World Wide Services and is headed by Marios Iliopoulos, entered the tanker market in 2004. The company was launched with the 53,500-dwt Vera Cruz A (built 1982), formerly controlled by the Angelicoussis group. It then went on to buy another two handysizes in the next two years, the 29,900-dwt Agiasma (ex- Yapi , built 1989) and 37,400-dwt Aetos (ex- Great Promise , built 1980).
In 2007, the company began a buying spree, taking not only the five panamaxes but also another two handymaxes, the 48,200-dwt Siempre Adorado (ex- Aristos II , built 1985) and Tiheroula (ex- La Roux , built 1984) for a reported total of $27.5m.
Worldwide Green has not transferred the management of its new acquisitions in-house. The Stainless and the panamaxes it bought from Economou and Liquimar continue to be managed by their former owners.
Sources say this was done so that chartering arrangements for the ships could be kept in place.
By Yiota Gousas, Athens, published: 11 April 2008

New supplier comes to Kali Limenes
---The Bominflot Group has started supplying bunkers from Kali Limenes off the southern coast of the Greek island of Crete in the eastern Mediterranean.
Kali Limenes is close to major shipping routes
A statement sent to Bunkerworld said supplies had been available from the beginning of this month.
Bominflot said supplies could be delivered ex-barge or ex-wharf.
The delivery barge at the station has capacity to carry up to 2,300 metric tonnes (mt) of IFO or 1,700 mt IFO and 600 mt of MGO.
The Group spokesman said Bomfinflot had chartered space at the 28,000 mt capacity Kali Limenes terminal and had brought its own product.
It currently has some 8,000 mt of IFO (including low sulphur product) and around 800 mt of MGO.
The initial cargoes came from a Greek refinery, but the Group intends to source the bulk of its product from the Black Sea region.
Prices are expected to hold close to or slightly above Gibraltar and to be extremely competitive against Malta.
Once established, Bominflot hopes to be selling some 30,000 mt of bunker fuel a month.
The Group is planning to bring a second, dedicated barge to the Kali Limenes station soon, said the spokeman.
The Kali Limenes bunkering station is controlled by the Greek bunker supplier Seka S.A.
O.W. Bunker Malta Ltd began offering IFO and MGO from Kali Limenes in 2004.
Cepsa Marine Fuels (CMF) announced four months ago (December 2007) that it was supplying from Kali Limenes and Piraeus as part of its expansion into the Greek market.
The Bominflot spokesman said the potential of the Kali Limenes terminal lay in its strategic location close to major shipping routes.
In the 1960s, Kali Limenes was a major bunker supply point in the Mediterranean.
Bominflot says enquiries for bunkers in Kali Limenes can be handled from any Bominflot Office.
Nick Jameson | Mon Apr 7 11:53 GMT 2008
Source: 07 Apr 2008, 11:53 GMT-

Rina opens Greek centre
---ITALY-based classification-society Rina has opened a Plan Approval Centre in Greece to provide Greek shipowners with faster response times when contracting newbuildings and conversions.
Rina currently classes 155 vessels totalling 3.4 m gt on behalf of 62 Greek owners. Vessels classed cover all types of ship, including 3 cruise ships, 26 passenger ferries and 42 bulk carriers. Rina's global orderbook for newbuildings grew to 575 ships totalling 8.85m gt in 2007.

Transas completes sizeable deliveries to three Greek shipowner companies
The first contract includes the delivery of seven Master and Backup Navi-Sailor 3000 l ECDIS systems for Arcadia Shipmanagement Co Ltd, Athens. The newbuild vessels were delivered at Hyundai and Samsung Shipyards, South Korea.
On April 1st 2008, Arcadia Shipmanagement confirmed a follow-on order with Transas Hellas for Master and Backup Navi Sailor 3000 ECDIS I, to be delivered at STX and SPP Shipyards in South Korea between 2010 and 2011.
Transas Hellas has also completed delivery of two Master and Backup Navi-Sailor 3000 ECDIS i systems for newbuild tanker vessels for Tsakos Shipping & Trading SA. The systems were delivered at Sundong Shipyard South Korea during April 2008. Tsakos Shipping & Trading SA have confirmed a further order with Transas Hellas for Master and Backup Navi Sailor 3000 ECDIS i systems to be delivered at Sundong Shipyard South Korea during late 2008 and through 2009. Tsakos has also ordered a Master and Backup Navi Sailor 3000 l ECDIS system for retrofit t at drydocks in Lisbon, Portugal during April 2008.
Finally, Transas Hellas have completed delivery of a Master and Backup Navi Sailor 3000 ECDIS i system for a chemical tanker vessel, , for Primera Maritime Hellas Ltd. The delivery took place at ULSAN South Korea, during March 2008.

Ceylon Shipping Corporation signs MOU with Shipping Company in Greece
---Ceylon Shipping Corporation signed an exclusive Memorandum of Understanding (MOU) with Shipping Company in Greece. Chairman of Ceylon Shipping Corporation Mr. Y.L.S. Hameed, Proprietor of the Shipping Company in Greece Mr. Veeros Vardinoyanis and his representative in Sri Lanka Mr. Aristan Oyal signed for the MOU.
The MOU will open wider avenues to launch maritime business ventures with collaborative investments.
Minister of Port and Aviation Chamal Rajapaksa, Dilan Perera, Chairman of Sri Lanka Ports Authority (SLPA) Saliya Wickramasuriya and the Executive Director of Ceylon Shipping Corporation Mayantha Dissanayake also participated at the occasion.