Greek Shipping News Cuts
Week 23 - 2008

 

Chamber leads on shipping issues

---The semi-governmental Hellenic Chamber of Shipping maintains close links with the shipping ministry and other organs of the Greek government. Its expert advice comes from eight permanent panels made up of professionals drawn from every aspect of shipping business, Petros Aivatzidis reports
Every commercial vessel registered in Greece, be it a VLCC or just a yacht for hire, is obliged to become a member of the Hellenic Chamber of Shipping.
The diversity of its membership means that the chamber is working to promote and protect the widely varied interests of members, both nationally and internationally.
To provide members with up-to-date information, the chamber monitors changes in legal and technical issues affecting their business.
When the chamber was set up in 1936, its remit included advising the government on all maritime matters. This advisory role has since been institutionalised and strengthened: the chamber is now a semi-governmental organisation maintaining close links with the shipping ministry and other government departments.
Experct panels issue advice
The expert advice it offers is furnished by eight permanent committees made up of professionals from every facet of Greek shipping.
Conducting maritime arbitrations according to its own rules is another established activity of the chamber, which has developed a comprehensive library of cases over half a century of resolving disputes.
This involves appointing arbitrators and umpires from an extensive list maintained at the chamber by means of a declaration made by the disputing parties to its president.
However, the volume of cases heard at the chamber, and in Greece in general, remains below the level desired by the local shipping community.
This is mainly because, even in the current good market, a Greek ship manager finds it difficult to influence the arbitration clause of charter parties to his liking.
Athens and Piraeus are home to 700 ship operating companies, which employ more than 11,000 people. There are also a large number of companies offering services ancillary to shipping. The maritime cluster creates almost 250,000 jobs, 50,000 of which are for seafarers.
The chamber is keen to ensure that the country takes full advantage of the potential offered by the strength of Greeks in shipping. Areas for future action include the development of shipbuilding and the cruise sector, which have been in decline.
Benefits from Med cruising
The chamber has proposed measures for the revival of the domestic repair and shipbuilding industries, pointing out that there has been zero gain for Greek yards from the huge spending of Greeks on new tonnage. It has also brought representatives from the cruise and tourism sectors into the discussion, to try to find ways of increasing the domestic benefits derived from the flourishing Mediterranean cruise market.
The chamber participates in the joint effort of shipowners and government to address the shortage of Greek maritime officers, which is exacerbated by the continual growth of the Greek-controlled fleet.
At the initiative of the chamber, Greece celebrates a yearly Hellenic Maritime Day, promoting a one-day forum and a media campaign, which has three purposes (see box, left).
The chamber also issues a yearly advertising brochure designed to stimulate the interest of youngsters in seagoing careers. About 200,000 copies of it are distributed to high school students throughout the country.
Moreover, representatives of the chamber are frequently invited by schools to discuss sea career opportunities with the students.
To pay tribute to those who contribute to the success of Greek shipping, including shipowners, seafarers and the land-based employees of shipping companies
To raise public awareness of the major role that shipping plays inthe national economy
To inform young people of the advantages of a career at sea, and the subsequent job opportunities that can be on offer
Source: http://www.fairplay.co.uk/


PM inaugurates 'Posidonia' maritime exhibition
---Prime Minister Costas Karamanlis inaugurated the 21st "Posidonia" International Maritime Exhibition at the exhibition centre located at the former eastern Hellenikon airport on Monday afternoon, underlining the contribution of Greek shipping to the backing and strengthening of the economy.
The prime minister placed special emphasis on the government's policy on privatising the ports of Piraeus and Thessaloniki.
He said that the government's immediate aim is to develop strategic alliances with international managers to enable their dynamic upgrading and further utilisation.
"Offers by international managers who will assume, for a specific period of time, the managing of their container terminals are already at the stage of assessment. The aim is for us to attract private capital and modern know-how. The purpose is to make our ports transit centres in southeastern Europe. To make Greece a bridge between East and West, a modern transit centre, an international trade hub," the prime minister said.
Karamanlis referred to the present aggravated climate due to the international conjuncture and the energy and environmental challenge stressing that the rapid increase in prices of main farm products and consecutive upsurges in international oil prices are affecting the economies of the entire world, increasing the cost of production and transportation, fuelling inflation and compressing growth rates.
He praised the contribution of shipping which, together with tourism, are the most extroversive sectors of the Greek economy.
"They bring in exchange, they bridge the deficit in the trade balance, they create thousands of new jobs, they strengthen our economy and benefit society in its entirety," Karamanlis said.
He further mentioned that Greek shipping manages 17 percent of the international merchant fleet, 20 percent of the international fleet in transporting dry cargo and 23 percent of the international fleet of tankers.
Karamanlis also stressed that maritime exchange flowing into the country is increasing continuously and from 14 billion euros in 2006 it has reached 17 billion euros in 2007, while placing emphasis on the creation of new jobs.
Source: www.ana.gr, 2 June 2008


---M/V Argolikos, the first ship to be built in this freeport, not only passed its recent test for seaworthiness, but also performed "well beyond expectations." Pyeong Jon Yu, an executive of South Korean shipbuilder Hanjin Heavy Industries Corp.-Philippines, said the $60-million container carrier successfully passed the required sea trial prior to its delivery this month. In a letter to Subic Bay Metropolitan Authority chairman Feli-ciano Sa-longa, Yu said the sea trial last May 27-29 was witnessed by representatives of Dioryx Maritime Corp., the Greek shipping firm that ordered the vessel, and Bureau Veritas, a Paris-based conformity assessment, certification and inspection and testing firm.
"It is worthy to note that the required speed as per contract is 24.5 knots, but the ship's actual speed is 24.6 knots," Yu said.
"We are pleased to inform you that the owner's representative on board, and Bureau Veritas remarked that the ship performed well beyond their expectations," he said.
Source: SeatradeAsia Online
Source: Thursday, 05 June 2008, http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=8888&Itemid=33


GasLog joins league of LNG owners
---Sitting in the waterfront offices of Ceres-contolled GasLog in Piraeus, Jeppe Jensen is fresh in from a gruelling schedule as he gears up the company to take its place as an LNG shipowner.
Jensen is now chief executive and the new public face of the group's gas-shipping arm, GasLog, after his defection from AP Moller-Maersk with a bunch of LNG colleagues last year. He has just splashed out the best part of $500m on two LNG-newbuilding resales from energy major Chevron.
The newbuildings, ordered by Chevron in 2005 at $192.1m each and due for delivery in 2010, will give GasLog its first 100%-owned LNG tonnage. "Those were the two vessels we wanted," said Jensen, explaining that he thinks Chevron has done a "good job" on the design and specification.
Industry-wide teeth sucking and shaking of heads followed the purchase with mutterings about it being an ill-advised move to buy ships with no employment prospects in a market already flooded with LNG tonnage.
Jensen understands and is clearly frustrated not to be able to give more details about what the company is working on. "We are very close to finalising employment for the two vessels. I can't say anymore," he said.
His caution is understandable. In his days at AP Moller-Maersk, his LNG team got their fingers burnt when Suez took just two of their newbuildings instead of the four they had originally been negotiating for.
But Jensen looks decidedly upbeat and even more energised than his usual self this time - if that is possible. "We feel on track with our strategy and that strategy is a growth strategy," he said.
He says it is important for the company to be seen starting to grow its fleet to let the market know that it intends to be a player. "We wanted to have some goods on the shelf," he said. "We wanted to take a position to show we are serious."
Market sceptics argue GasLog has chosen resales that deliver a bit too early, perhaps slightly before the market is expected to start getting back on its feet. Jensen admits there is a deal of debate around this question but says there are two sides to it. The company will pay less interest on the 2010-delivery ships, although rate levels might be stronger later, whereas a 2011 vessel will come at a higher delivered cost, albeit with the possibility of a slightly stronger charter rate.
"Our advantage is that we don't have idle tonnage. It is a soft market and therefore we have a good chance of getting it right," he explained.
Ceres came at LNG through shipmanagement after failing to make it down the more traditional project-tender route. Ceres LNG Services, the GasLog-owned technical arm, now manages a slew of existing vessels and newbuildings for BG Group. It is steady business but not work the company will get rich on.
Jensen is coy about how the package deal shift of AP Moller-Maersk's LNG team to GasLog came about. It appears he had not met Peter Livanos before the deal was done and when it was agreed, events, perhaps understandably, moved fast.
He says LNG is not traditional shipping. It is very long-term, expensive and has exceptionally high safety standards. "There are no short cuts," he said, explaining that companies likes Ceres needed to go out and buy a team when they wanted to develop the owning side.
Looking ahead, Jensen says GasLog is not going to jump on things but will make more expansion moves in the next two years, whether it be by acquisitions or organic growth. Yards speak of an open tender from GasLog for two dual-fuel diesel-electric LNG newbuildings of between 150,000 cbm to 170,000 cbm with an option on a further two vessels for target delivery dates in 2011. But Jensen will only say the company is constantly monitoring the newbuilding market. "We will grow slowly," he said. "We are very focused on profitability."
Lucy Hine Piraeus, published: 29 May 2008
Source: www.tradewinds.no,


Posidonia 2008: Molaris linked to $800m tanker orders
---Nigel Lowry and Mike Grinter - Tuesday 3 June 2008
Molaris has declined to confirm the deal.
STAMATIS Molaris is fronting an entity that has inked contracts with Hyundai Heavy Industries to build nine suezmax tankers, one of largest tanker orders this year.
But plans for the ships remained sketchy yesterday as the full identity of the owners remained to be confirmed.
But beyond describing the customer as Greek, ship sales general manager C S Kim said the owner could not be specifically identified due to a confidentiality agreement signed between the parties.
The total value of the ships is Won852bn ($837m), Hyundai disclosed, or $93m per ship. The series equates to 5.5% of total revenue received by the shipyard last year.
It is understood that all the ships are firm orders with no options, and that the deal was signed off in Athens this week on the fringes of Posidonia.
Source: http://www.lloydslist.com/ll/news/posidonia-2008-molaris-linked-to-800m-tanker-orders/20017539274.htm


Posidonia 2008 is sponsored by the Ministry of Mercantile Marine, The Aegean and Island Policy, the Municipality of Piraeus, the Hellenic Chamber of Shipping, the Union of Greek Shipowners, the Greek Shipping Co-operation Committee, the Mediterranean Cargo Vessels Shipowners Union, the Association of Greek Coastal Shipping Companies and the Association of Greek Passenger Shipping Companies.
Source: Tuesday, 03 June 2008. Source: Posidonia 2008 Press Office


Greek Owners Turn to ABS for New Construction Class Services
ABS was the first foreign class society to open a technical and engineering office in Greece to provide more responsive service to its clients. This has been steadily expanded to meet the needs of the rapidly growing Greek-managed fleet and is supplemented by an active survey department, a comprehensive training program offered through a specially built facility and a growing portfolio of related services intended to assist owners to improve their operating efficiencies.
Founded in 1862, ABS is a leading international classification society devoted to promoting the security of life, property and the marine environment through the development and verification of standards for the design, construction and operational maintenance of marine-related facilities.
(www.eagle.org)
Source: Press Release, 5 June 2008


KfW targets Greek owners
---GERMAN-based global financier KfW IPEX-Bank is increasing its focus on the Greek shipping market and has appointed independent financial adviser Eurofin to act as its consultant. Eurofin will assist KfW IPEX-Bank through its Athens based office in developing a high quality Greek shipping loan portfolio by providing the bank with ongoing market intelligence on the Greek shipping market, introducing Greek owners to the bank, providing regular updates on the activities of potential Greek clients and identifying ship financing opportunities for the bank.
Dr. Uwe-Carsten Wiebers, head of shipping for KfW IPEX-Bank, says, "Currently we are the fifth largest shipping bank in the world, with a portfolio of around Euro14.5 bn, and have already some excellent Greek clients. We are ready to extend our portfolio in the Greek market and we hope that Eurofin will play a key role as our adviser in helping us to understand the market in detail and ensure our funds are put to good use and in safe hands."
Anthony Zolotas, CEO of Eurofin, says, "There are some very good and sound opportunities for banks in the Greek shipping market, which is stronger than it has ever been. But especially after a long shipping boom, and with the world finance system in the grip of a credit crunch, good banks such as KfW IPEX-Bank have to be selective. We can use our long experience and deep knowledge of the Greek shipowners worldwide to help them build a significant position in the world's largest shipping market, with substantial clients and solid projects."
Source: Monday, 02 June 2008, www.mgn.com


GL Contracts Jack Up Platform Thor with Hellenic Shipyards
---Hellenic Shipyards has secured a contract for the construction of a sea platform to accommodate offshore wind-parks for location in the Baltic and North Seas. The classification of the 70 metre platform Thor has been entrusted to Germanischer Lloyd. Mr. Ioannis Manolemis, Member of Hellenic Shipyards Board of Directors, and Dr. Hermann J. Klein, Member of the Executive Board Germanischer Lloyd signed the contract today at Posidonia. The platform is 70 metres long, 40 metres wide, has a draft of 6 metres and can be operated in water depths of up to 50 metres. It has a crane of 400-tonnes lifting capacity. Each of the windmills on the platform produces between two and five megawatts of power. Delivery is scheduled for April 2009. Thor is designed to operate worldwide in harsh environmental limits, said Manolemis at the signing ceremony. The order is the first major commercial newbuilding order won by the largest shipyard in the area of the eastern Mediterranean in the last 22 years.
The classification is performed according to the rules and principles set out in Germanischer Lloyd's construction rules.
Source: Tuesday, June 03, 2008, http://www.marinelink.com/Story/ShowStory.aspx?StoryID=211984


Costamare ships use GL's CO2 Indexing
--- FIVE large container ships operated by Greek shipping company Costamare will be the first to operate in full compliance with MEPC / circ. 471 of IMO regarding operational CO2 indexing, according to German classification society Germanischer Lloyd.
Costamare has registered the vessels COSCO Guangzhou, COSCO, Ningbo, COSCO Yantian, COSCO Beijing and COSCO Hellas with Germanischer Lloyd's operational CO2 indexing program. On the basis of consumed fuel, transported cargo and distance sailed, CO2 emissions are to be determined using carbon emission factors. Computed index values can be compared to sister ships' indices and eventually be used to minimise emissions from transport.
"With the realisation of an operational CO2 emission indexing for ships, Germanischer Lloyd contributes significantly to the future wide implementation of such an index", said Dr. Hermann J. Klein, Member of GL's executive board. "We are glad that Costamare Shipping is a leader in gaining widespread experience with the CO2 indexing methodology in general."
GL argues that the implementation of the operational CO2 index is one step to consistently reduce CO2 emissions. Applied on several ships of a fleet, it allows a comparison of CO-indices. This function in particular is expected to trigger a learning effect as differences in fuel consumption will be made explicit and more transparent with the data associated to each vessel and voyage segment.
Source: http://en.chineseshipping.com.cn/html/Article.asp?id=187982


Newsfront's: Akti Miaouli / Market Place
* Procedures for issuing licenses to ship repair facilities within the Perama-Keratsini area are to be simplified. Internal Affairs minister, Prokopis Pavlou, and Marine, the Islands Policy minister Giorgos Vougarakis have agreed on the move as part of an effort to revive the country's ship repair activities by simplifying the complicated and costly licensing framework currently in place. As part of the efforts, a new task force will be set up and headed by secretary general of Ports and Port Policy, George Vlachos.
* Lloyd's Register (LR) pledged support to Helmepa (Hellenic Marine Environment Protection Association) in a small ceremony June 4 during
Posidonia. The register's environmental arm, Lloyd's Register Educational Trust (LRET), pledged support to a new scheme designed to increase the awareness of children in the marine industry. LR executive chairman, David Moorhouse, committed funding of Euro 158,000 over three years to the Helmepa Cadets programme, which is aimed at children over 13 years of age and designed to increase their awareness of both environmental issues and careers within the marine industry. This follows a similar agreement in April to support the Helmepa Junior programme, aimed at children up to the age of 13, the first time LRET has supported a junior educational programme outside of the UK.
* Los Angeles investment advisor, Kayne Anderson Capital Advisors has acquired a large minority stake in Piraeus-based, Nasdaq-listed shipping company, Omega Navigation Enterprises (ONE). Richard Kayne, the company's ceo, is reported to be owner of the 10.2% shareholding worth about $25m. Kayne Anderson has holdings in over 20 US-listed shipping companies, including Greece's Aries Maritime.
* Hellenic Shipyards signed a newbuilding contract for construction of the 'Thor' sea platform to house offshore wind-parks in the Baltic and North Seas. The contract, signed during Posidonia, assigned classification of the 70mtr long platform to Germanischer Lloyd (GL). Ioannis Manolemis, member of Hellenic's board of directors, said the the project is "of major importance due to its high complexity and its use in the implementation of breakthrough technology." The project is due for delivery in April 2009
* Five large container ships operated by Costamare Shipping will be the first worldwide to operate in full compliance with MEPC / circ. 471 of IMO regarding operational CO2 indexing. The COSCO Guangzhou, COSCO, Ningbo, COSCO Yantian, COSCO Beijing and COSCO Hellas have been registered with Germanischer Lloyd's (GL) operational CO2 indexing programme. On the basis of consumed fuel, transported cargo and distance sailed, CO2 emissions are to be determined using Carbon emission factors. Computed index values can be compared to sister ships' indices and eventually be used to minimise emissions from transport. The agreement was signed at Posidonia between Costis V. Constantakopoulos, ceo of Costamare and Hermann J. Klein, member of GL's executive board, who said: "With the realisation of an operational CO2 emission indexing for ships, Germanischer Lloyd contributes significantly to the future wide implementation of such an index."
* ABS chairman and ceo Robert D. Somerville has revealed that "in the first four months of this year Greece-domiciled owners have placed orders for 59 new vessels to ABS class". He said: "This continued support has brought the ABS share of all worldwide orders for new ships by Greek owners to a market leading 30%". This level of support exceeds the 22% share of the existing Greek-domiciled and controlled fleet currently maintained to ABS class. "Our relationship with Greek shipowners stretches back some 60 years to the time when the U.S. government made a 104 strong fleet of surplus post-World War II Liberty ships available to Greek owners at favorable terms," said Somerville. "Those ships helped the nation rebuild its merchant fleet after sustaining devastating losses in support of the Allied cause. And since those vessels were ABS classed, they also formed the foundation of ABS activities here in Greece."
* Lloyd's Register (LR) has developed a specific guide for the ISO 14001 environmental management standard to enable ship operators to establish and implement effective environmental management systems. The core is an environmental 'practical pack' for ship operators -- a step by step approach to assist in identifying and prioritising environmental issues. It is designed to help operators evaluate the environmental risks and to incorporate any legal and other requirements they face. Introducing the practical pack, Apostolos Poulovassilis, LR's area business manager, Greece, Eastern Mediterranean and Adriatic, said: "The marine industry has become increasingly aware of the importance of implementing management systems and standards. This pack provides operators with a pragmatic management tool to measure, manage, demonstrate and improve environmental performance. We see the development and support of this type of service as an increasingly important aspect of our role as a classification society: whether it is on as ship or in a shipyard. How do you get the most out of people and improve safety, protect the environment and overall performance? We believe the right tools with the right training can really help the industry and we are seeing great demand from our clients."
* Lloyd's Register (LR) has also developed a voluntary assessment programme, designed to support the practical implementation of the forthcoming ILO Maritime Labour Convention (MLC, 2006) on new and existing ships. Not yet mandatory, the MLC, a significant development in international shipping described as a 'bill of rights' for maritime labour, is expected to come into force by 2012. But ratification may take place even earlier. The convention has been drafted to help ensure that all seafarers, regardless of their nationality and the flag of the ships they work on, can enjoy decent working and living conditions.
* Meanwhile, RINA has introduced a new voluntary notation to help shipowners meet the new international standards for crew accommodation. The notation, ILODESIGN will ensure compliance with the ship construction and accommodation layout and outfitting requirements of the new MLC 2006
Roberto Cazzulo, deputy director of RINA's marine division said: "Seafarers are the most important resource of shipowners, and good seafarers will become scarcer in the next few years. Owners who invest in ensuring that their crews are properly looked after will benefit by attracting and retaining higher quality crews. And by ensuring that all new tonnage ordered now complies with the future requirements of this convention they will avoid costs of modification when the convention enters into force. This initiative is part of a drive by RINA to help shipowners better manage human resources, and it complements our focus on human factors and training, such as our new training academy in the Philippines."
* Greece and Cyprus used Posidonia as a platform to tie existing maritime links even tighter. In the first piece of business after opening the exhibition June 2, Marine, Aegean and Island Policy minister, Giorgos Voulgarakis, had an early morning meeting with his Cypriot counterpart Nikos Nicolaides and signed commercial and bilateral governmental deals. Voulgarakis said the agreement would see Greece and Cyprus co-operating on maritimne issues within the European Union and wider international sphere. Under the agreement the two countries will also explore ways of working more closely. Nicolaides said both countries will gain much from working together. The agreement also outlines the framework for the resumption of a ferry link between Limassol and Piraeus, which Nicolaides said was important to Cyprus "for many political and social reasons". Greek authorities and Cyprus' Port Authority (CPA), preseident Chrisis Prentzas also used the occasion of Posidonia to discuss a memorandum of co-operation for port development, in a further sign of increased cooperation on the shipping front between the two major maritime nations.
* The Marshall Islands flag fleet has topped the 40m gt mark the flag's administrator, the International Registries, Inc. (IRI), announced at Posidonia. The MI registry has grown from 18.5m gt and 626 ships at the end of 2003 to 40m gt and 1,736 vessels in May 2008. The largest share of MI tonnage is from the US, Greece, Germany and Norway, markets in Italy, Turkey, Japan and other areas in Asia have been opening up over the last year. "The week of Posidonia is a tremendous opportunity to celebrate reaching our goal of 40m gt in the Marshall Islands Registry. It is also an opportunity for registry personnel to interact with shipowners, operators, class societies, legal representatives and other industry stakeholders from around the world that have shown their support of the Registry," said Theo Xenakoudis, md, IRI (Piraeus).
* The Liberian Registry has kicked off its 60th year celebrations at Posidonia. Commissioner of the Bureau for Maritime Affairs Binyah Kesselly, speaking at a Posidonia reception, noted 450 of the current fleet of 2,800 ships flying the Liberian flag are from Greek owners, with 200 newbuildings committed, and said: "The support that many of you have, and continue to give through Liberia's maritime programme provides us with the resources that are essential to meet the challenges that meet us for achieving our goals of full recovery as a nation. In just two years we are proud to say that Liberia has risen to meet monumental challenges and has achieved considerable success in peace and security, rehabilitating infrastructure, increasing governance and securing the blessings of peace and security for future generations of Liberians." Commissioner Kesselly, ceo Scott Bergeron and the deputy commissioners Margaret Ansumana and Angelique Weeks along with Consul Nicos Soutos to meet with Greek Marine minister Giorgois Voulagarakis to discuss areas of common interest including the recent revisions to Marpol Annex VI (reducing sulphur and nitrogen levels in air pollution), Long Range Identification Tracking and how Liberia can co-operate with the EU to help the EU meet its delayed deadline to introduce the system.
* The Gard marine insurance group has a $69m surplus, the best for five years despite generally difficult times in both the P&I and hull insurance markets. The result came after an 8.8% investment return that brought in $124m pointing to an overall underwriting loss of $55m. Gard's hull and energy company had up a surplus of $33m, thus Gard, which insures a 170m gt is content for its P&I operation to run at a loss providing other activities are going well.
Gard ceo, Claes Isacson, said the strong result would allow the club to go for a 105% combined ratio net for the year from next February although it would be for club directors to take a decision on this nearer the time.
* The North of England P&I club has emerged both bigger and stronger from this year's annual renewal, with free reserves up from $190m to $220m and total entered tonnage rising to 90m gt. Joint md Paul Jennings said 35 shipowners entered ships for the first time. Combined accounts show a 15.7% increase in free reserves at February 20, 2008, with investment income and exchange gains of $40m offsetting a technical underwriting loss of $10m. Net assets increased $45m to $679m. Joint deputy md Alan Wilson said the "year was dominated by an increased level of claims leading to a net underwriting loss. Nevertheless, and helped in part by reducing our equity exposure from 38% to 17% last autumn, we were also able to achieve a respectable 7.1% return on investments". He said the industry continues to face a difficult claims environment and investment markets are particularly volatile, suggesting the need for further industry-wide premium increases."
* Amsterdam-based Seaarland Shipping Management and New York-based OSG have set up Suezmax International, a commercial pool which will initially operate eight tankers. Co-managed by Seaarland in Amsterdam and OSG in New York, eight ships have been commited to the pool so far including four newbuildings due for delivery from Nantong Rongsheng Shipbuilding, China during 2009.
* RINA has made a major breakthrough in the Chinese shipbuilding market, being appointed to class a 300,000dwt Very Large Ore Carrier (VLOC) to be built at Dalian Shipbuilding Industry for Italian owner ILVA Servizi Marittimi Spa. It will be the largest ship ever built to RINA class and the largest ship ever built for the Italian flag.
Source: www.newsfront.gr


---(Houston, TX---) A three year research program is to be funded by ABS and undertaken by the National Technical University of Athens (NTUA) that will study the impact of environmental protection on marine transportation, including shipbuilding. The intent is to develop tools that can be used by designers, shipowners and other stakeholders to identify and select effective, environmentally positive policies and procedures.
The research will focus on two principal areas: environmental risk evaluation criteria and ship emissions and energy savings.
The second element of the study will examine the complex challenge of reducing ship air emissions while promoting operational efficiencies. NTUA has been tasked with developing rational, realistic and effective proposals that address the need to further reduce emissions. Tang-Jensen says the analysis will take a cradle-to-grave approach, considering the emissions generated by a vessel from construction through service to scrapping. Comparisons with other modes of transportation will be made and specific scenarios will be reviewed for different ship types, sizes, trading patterns and fuel type.
NTUA was founded in 1836 and is the oldest and most prestigious educational institution of Greece in the field of technology. The School of NAME is actively involved in practically all fields of basic and applied research in the marine, naval and ocean engineering technology, as well as in the fields of shipping management and policy.
Founded in 1862, ABS is a leading international classification society devoted to promoting the security of life, property and the marine environment through the development and verification of standards for the design, construction and operational maintenance of marine-related facilities.
Source: Press Release, June 2, 2008