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Monday 30 June 2014

Paris MoU confirms Liberia as best-performing major ship registry


Liberia has been confirmed as the best-performing major ship registry worldwide over the last three years in the latest statistics from the Paris Memorandum of Understanding (MoU) on Port State Control.

The Paris MoU statistics confirm that Liberia had the best detention rate during the last three years of those registries with more than 100,000 gt of shipping under their flag. Liberia’s detention rate was 2.03 per cent, based on 82 detentions arising from 4,046 inspections. This positions it well ahead of the Marshall Islands, which had a detention rate of 2.50 per cent based on 63 detentions of 2,521 vessels inspected. Panama was in third place, with a detention rate of 4.89 per cent, resulting from 305 detentions out of 6,238 inspections.

Liberia also recently received its QUALSHIP (Quality Shipping for the 21st Century) certification for 2014 from the United States Coast Guard. Only a small percentage of foreign-flag ships calling at US ports are admitted to the QUALSHIP programme, based on the excellence of their port state control record. Designated ships are recognised and rewarded by the USCG for their commitment to safety and quality. The USCG has congratulated the Liberian Registry on its “exceptional commitment to quality”, and highlighted its “excellent” detention ratio.

Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the Liberian Registry, says, “Liberia is committed to keeping its fleet of ships, the second largest in the world, operating efficiently and on schedule. Time is money. Moreover, it is encouraging to see that Liberia’s proactive approach to safety and regulatory compliance continues to receive independent endorsement in the form of its presence on the White Lists of all Port State Control Memorandums of Understanding worldwide, its confirmation of QUALSHIP certification, and its excellent detention record.”

The Liberian Registry is one of the world’s largest and most active shipping registers, and has long been considered the world’s most technologically advanced maritime administration. It has a long-established track record of combining the highest standards of safety for vessels and crews with the highest levels of responsive service to owners. www.liscr.com


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Shipping confidence softens amid concerns about overtonnaging

Overall confidence levels in the shipping industry fell slightly during the three-month period to May 2014 but remain at their second-highest level for the past six years, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. Expectations of new investment were maintained over the three-month period, but the prospect for higher freight rates softened in the tanker and dry bulk sectors. Uncertainty over the likely effect of an increase in private equity funding, and the consequent potential impact on tonnage supply, meanwhile dominated the thoughts of respondents to the survey.

In May 2014, the average confidence level expressed by respondents in the markets in which they operate was 6.3 on a scale of 1 (low) to 10 (high), compared to the 6.5 recorded in February 2014, which was the highest figure since the 6.8 recorded when the survey was launched in May 2008.

Ship managers (up from 6.4 in the previous survey to 6.5 this time) were the only category of main respondent to report an increase in confidence. Owners (down from 6.6 to 6.1), charterers (down from 6.5 to 6.1) and brokers (down from 6.4 to 6.0) were less confident than they were three months previously.

Geographically, confidence was stable in Asia at 6.4, but down in Europe and in North America, from 6.4 to 6.2 and from 7.1 to 6.5, respectively.

Despite the small overall decline in confidence levels, a number of respondents to the survey remained upbeat. “Levels of confidence are good, and are expected to improve,” said one, while another noted, “World trade seems to be improving, and shipping will benefit.” Others were slightly more guarded in their responses, however. One respondent said, “The market is improving, but there are still some smaller, financially weak companies likely to go bust.” Another observed, “We have noted slight improvements in the market and are confident that more significant growth will take place in the coming months,” while others still remarked, “Demand is still high, even though operational costs have tended to increase,” and, “The shipping markets are not stable at the moment, but will pick up shortly.”

“Confidence is lower today than at the start of the year, but still reasonably optimistic going forward,” said one respondent. “Some believe we are sailing out of the doldrums, while others believe we will never get out. Interesting times!” Another noted, “The market has improved slightly, but certainly not enough to start drinking champagne. The next few years will be difficult, and maybe the real recovery will be too little and come too late for some owners.”

Elsewhere it was noted, “The market has held up for longer in 2014 than it has in the past few years, but one can sense that it is slowing down now. Hopefully, though, we are now seeing the results of more vessels being scrapped, and rates should be more robust and won’t tumble over the quieter summer months.” Similarly, another respondent said, “Shipping is moving slowly at the moment and will continue in that vein over the summer months before increasing pace again later in the year.”

Concern about overtonnaging, meanwhile, continued apace. “The market is a little more stable, said one respondent, “but we need to stop ordering newbuildings, particularly in the medium-range tanker and platform supply vessel sectors.” Of like mind, another respondent cautioned, “The future is uncertain due to the fact that owners are still ordering too many ships. Also, economic factors are changing trade patterns once more, and the markets are likely to remain volatile, with a tendency towards downward movement, until 2016 and beyond.”

Continuing the theme, another respondent warned, “Concerns are growing about the number of newbuildings relative to the size of the existing fleet,” while another still emphasised, “We must not have large numbers of orders for new ships for the next two years, at least.” Summing up the feelings of a number of others, one respondent warned, “An improvement in the freight markets is long overdue, but more new tonnage is on order despite the general consensus that there is already an over-supply.” Offering a slightly different slant on the situation, it was observed elsewhere that, “A lot will depend on developments in the Far East, and on the ability of Chinese shipyards to meet their orderbooks in timely fashion and to be able to assist with financing.”

The increasing availability of non-traditional ship finance, and of private equity funding in particular, dominated the thoughts of a number of respondents. One said, “The biggest risk is that uneducated and inexperienced new capital is available to the industry, which could lead to a new period of over-supply.” In similar vein, another remarked, “A high degree of uncertainty hangs over the supply side equation, with private equity keen to engage, and the continuing risk of state-sponsored ordering.”

Elsewhere it was noted, “Thankfully, the IPO window seems to have closed slightly, but any reactivation on the part of private equity companies, or further investment in new ships by public companies, will be very detrimental in the long term to shipping markets. Collective lessons have not been learned. As long as interest rates are low and money is cheap, hard assets will be sought and once again too many ships will be built and in the process lay the foundations for a very depressed market for years ahead.” Another respondent emphasised, “Amid ongoing overcapacity, the trend towards private equity and other non-traditional ship finance significantly threatens any recovery which may otherwise materialise from stronger forward demand trends.”

“The increasing involvement of ‘other people’s money’,” it was noted elsewhere, “has been a major factor in the newbuilding order splurge over the last nine months. Will seaborne trade growth in the underlying major commodities support this, or is the industry suffering from another of its bouts of wishful thinking?” One respondent referred to the entry into the market of “speculators who will drive up order books and subsequently increase overcapacity,” while another warned, “Short-term, non-shipping investors ordering new ships, some with other people’s money, will increase tonnage supply for years to come.” Finally, it was noted, “We have a new brand of so-called owners, or rather investors ordering tonnage on the basis of spur-of-the-moment decisions.”

The likelihood of respondents making a major investment or significant development over the next twelve months was unchanged on the previous survey, on a scale of 1 to 10, at 5.8, which equals the highest figure since the rating of 6.0 recorded in August 2010. The figure for managers was up on last time, from 6.0 to 6.2, and for charterers, from 6.3 to 6.4. But owners were slightly down on last time, from 5.9 to 5.8, as were brokers, from 5.4 to 5.2.

Sixty-eight per cent per cent of charterers (up from 50 per cent last time) rated the likelihood of making a new investment over the next twelve months at 7.0 out of 10.0 or higher. The numbers of owners and managers of like mind were 43 per cent and 56 per cent respectively, up on the corresponding figures of 47 per cent and 43 per cent last time.

Geographically, expectation levels of major investments were up in Asia, from 5.7 to 5.9 (the highest figure for four years), but down in Europe, from 5.8 to 5.7. Meanwhile, there was an increase, from 5.1 to 5.9, in North America, where 62 per cent of respondents rated the likelihood of making a new investment over the next twelve months at 7.0 out of 10.0 or higher.

One respondent said, “Recent new investment in over-built shipping asset classes represents a threat to shipping,” while another noted, “Potential buyers are finding it difficult to secure loans to buy ships.”

Demand trends, competition and finance costs once again featured as the top three factors cited by respondents overall as those likely to influence performance most significantly over the coming twelve months. The overall number for demand trends was up by 2 percentage points to 23 per cent, while competition was up by one percentage point to 20 per cent. Meanwhile, the number of respondents citing finance costs fell from 16 per cent to 15 per cent. Tonnage supply (unchanged at 13 per cent) featured in fourth place, while operating costs (down from 11 per cent to 10 per cent) and fuel costs (up one percentage point to 10 per cent) featured in equal fifth place.

Demand trends, up 5 percentage points to 27 per cent, remained the number one performance-affecting factor for owners. Finance costs, down 3 percentage point to 15 per cent, were replaced in second position by tonnage supply, unchanged at 17 per cent. For managers, meanwhile, competition (up 2 percentage points to 21 per cent) remained in first place. Operating costs, down 2 percentage points to 14 per cent, dropped to third place behind finance costs, unchanged at 15 per cent. For charterers, demand trends, up from 22 per cent to 30 per cent, featured in first place, ahead of competition (21 per cent) and finance costs (16 per cent).

Geographically, demand trends were the most significant factor for respondents in Asia (up from 20 per cent to 22 per cent), Europe (up 2 percentage points to 24 per cent) and North America (down from 24 per cent to 21 per cent). Competition was the second most significant performance-affecting factor in Asia (down one percentage point to 19 per cent), Europe (up from 18 per cent to 19 per cent), and North America (down from 23 per cent to 17 per cent). In Asia and North America, finance costs featured in third place, while for Europe that slot was occupied by tonnage supply.

One respondent noted, “The cost of paying and retaining professional staff remains high.” Another remarked, “The most alarming thing is the poor quality of crew.” A number of respondents were concerned about the cost of meeting regulatory requirements. One said, “Sulphur emissions restrictions and potential ballast water management systems costs are major challenges for the near future.”

The number of respondents overall who expected finance costs to increase over the next twelve months was unchanged at 41 per cent. The number of respondents expecting finance costs to come down, meanwhile, rose from 6 per cent to 13 per cent, the highest figure since August 2010. Managers were the only main category to record a fall in the numbers of respondents expecting higher finance costs (down from 42 per cent to 39 per cent). The figure for owners was up from 38 per cent to 42 per cent, for brokers from 39 per cent to 50 per cent, and for charterers from 35 per cent to 48 per cent.

The number of respondents in Asia anticipating an increase in the cost of finance was up by 8 percentage points to 56 per cent, while in Europe the numbers were down from 37 per cent to 34 per cent. In North America, meanwhile, the numbers anticipating higher finance costs rose from 29 per cent to 62 per cent.

“The banks need to change their policy,” said one respondent. “They have to support shipping, the biggest transport industry in the world, and lend against secondhand assets.” Another observed, “There is a lack of belief in the banking system.”

Turning to the freight markets, there was a fall in the number of respondents anticipating higher rates in the tanker and dry bulk trades, while expectations in the container ship sector remained unchanged from last time.

The number of respondents overall who expressed an expectation of higher rates in the tanker sector over the next twelve months was down by 2 percentage points to 41 per cent, which is nevertheless the second-highest figure since May 2011. Charterers recorded a 29 per cent fall in this regard, from 50 per cent to 21 per cent, while owners’ expectations were also down, from 42 per cent to 37 per cent. Brokers and managers, meanwhile, were more confident, their expectations of higher tanker rates increasing by 12 and 3 percentage points respectively to figures of 48 per cent and 46 per cent.

Geographically, the prospects for increased tanker rates were deemed lower this time by respondents in Asia (down from 43 per cent to 40 per cent), and in Europe (down from 43 per cent to 41 per cent). In North America, however, there was a 29 percentage-point increase to 50 per cent.

One respondent maintained, “The tanker and bulk carrier sectors are heavily influenced by low trading demand, and most trading routes worldwide are currently overtonnaged.” Another said, “There are too many newbuildings scheduled for delivery in the medium-range tanker sector.” Elsewhere it was noted, “The effects of rapid political developments within the EU have been under-estimated, and this will have an impact on tanker activity in the Western Europe/Mediterranean range.”

In the dry bulk sector, meanwhile, there was a 5 percentage-point fall, to 53 per cent, in the overall numbers of those anticipating rate increases. Just 42 per cent of charterers, compared to the survey high of 76 per cent last time, thought that rates would increase over the coming year. The numbers for owners were also down (from 59 per cent to 57), as were those for managers (from 57 per cent to 45 per cent) and brokers (from 62 per cent to 59 per cent. Expectations of higher dry bulk rates over the next twelve months were unchanged in Asia at 49 per cent, down in Europe from 64 per cent to 55 per cent, but up in North America from 47 per cent to 64 per cent.

One respondent said, “We are quite confident that, in the coming months, the dry cargo market overall will slowly but surely improve, after about six years of crisis.” Elsewhere it was noted, “The orderbook for bulk carriers is still quite high, but we believe there will be more scrapping due to the inefficiency of main engines, the price of fuel and the cost of retrofitting scrubbers.”

In the container ship market, meanwhile, the number of respondents expecting rates to increase over the coming twelve months was unchanged at 34 per cent. All main categories of respondent, with the exception of charterers, were more confident of rate increases this time than they were three months ago, with owners up from 34 per cent to 36 per cent, managers up from 33 per cent to 35 per cent, and brokers from 36 per cent to 41 per cent. For charterers, however, the figure was down from 50 per cent to 46 per cent.

Geographically, expectations of improved container ship rates were unchanged at 38 per cent in Asia, and up in Europe (from 31 per cent to 32 per cent) and in North America (from 27 per cent to 30 per cent).

Moore Stephens shipping partner, Richard Greiner, says, “The small dip in confidence revealed by the latest survey is a disappointment. But it has to be viewed in context. Confidence is still at its second-highest level for four years, and the number of respondents planning to make a major investment over the next twelve months is as high as it has been at any time since August 2010. It is difficult to think of another industry, similarly exposed to political, commercial, economic and environmental pressures, which has retained the confidence of its customers and investors to the same degree.

“Ironically, it is the willingness of investors – and new investors, at that – to put their money into shipping which may lie behind the recent small dip in confidence. Private equity funding dominated the comments of respondents to an extent seldom seen in connection with any other issue during the six-year life of the survey to date. Many see the growth of private equity finance in shipping as a threat to longer-term viability. It is true that this type of funding is likely to be short-term by shipping industry standards, and shipping is an industry which best rewards long-term investors. But, in the absence of sufficient bank funding of the type which has been the traditional mainstay of shipping finance over the years, other options are required to bridge the gap.

“Shipping is a recovering market which has proved its resilience. This is bound to attract interest from new, outside investors. That will not sit well with those who believe that shipping should be financed by shipping people and their banks. But there have already been a number of recent examples of successful shipping companies being formed by private equity investors at a low point in the shipping cycle. It may be that the recent easing of asset prices will be seen by private equity as an opportunity for further investment in shipping.

“The fact is that shipping needs new investment, and that can no longer be provided solely by the banks. Those who fear the repercussions of going into business with investors who don’t know the shipping industry should seek professional financial advice before making a commitment. Private equity investors who want to know more about shipping before taking the plunge, meanwhile, should do the same.

“Elsewhere, the survey revealed some familiar areas of concern, not least in connection with overtonnaging, and the effect that the entry into the market of large numbers of newbuildings will have on freight rates. Another recurring area of concern involves the cost of achieving regulatory compliance, in particular with the ballast water management convention, and of meeting the escalating cost of daily operation. These are the bread-and-butter issues of shipping, and bread and butter is expensive in today’s industry. They are also the issues that putative private equity investors will have to factor into their decision-making.

“Some people are already calling this period in the shipping cycle the recovery that never arrived. This works well as a sound-bite, but takes no account of the improved levels of confidence we have seen recently. Shipping industry confidence today is vastly improved compared to where it was five years ago. As one of our respondents noted, it may not yet to be time to break out the champagne. But neither is it time to subsist solely on beer.”

The Moore Stephens Shipping Confidence Survey includes responses from key players worldwide in the international shipping industry to a targeted, web-based survey by the Moore Stephens Shipping Industry Group. Responses were received from owners, charterers, brokers, advisers, managers and others. Editors can apply for a copy of the survey by emailing chris@merlinco.com

Moore Stephens LLP is noted for a number of industry specialisations and is widely acknowledged as a leading shipping and insurance adviser. Moore Stephens LLP is a member firm of Moore Stephens International Limited, one of the world's leading accounting and consulting associations, with 667 offices of independent member firms in 105 countries, employing 27,081 people and generating revenues in 2013 of $2.7 billion. www.moorestephens.co.uk

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RINA Services authorised as Recognised Organisation by Russian Federation

International classification society RINA Services has been authorised by the Ministry of Transport of the Russian Federation as a Recognized Organisation to perform surveys of vessels flying the flag of the Russian Federation and registered in the Russian International Registry of Ships. The authorisation also covers the issuance of relevant certificates.

 Michele Francioni, CEO of RINA Services, says, “This is an exciting development for RINA Services, which further enhances our technical competence and outreach in such an important country as Russia. It is also good news for those shipowners who operate ships in Russian waters which fly the Russian flag, who will have improved and faster access to RINA’s expertise and services.”  

The agreement was signed by Viktor A Olerskiy, Deputy Minister of Transport of the Russian Federation, and Michele Francioni, Chief Executive Officer of RINA Services SpA.

 For a photo of the signing go to http://bit.ly/1m4SKQt or e mail john@merlinco.com

RINA Services S.p.A. is the RINA group company active in classification, certification, inspection and testing services. RINA is a multi-national group which delivers verification, certification, conformity assessment, marine classification, environmental enhancement, product testing, site and vendor supervision, training and engineering consultancy across a wide range of industries and services. RINA operates through a network of companies covering Marine, Energy, Infrastructures & Construction, Transport & Logistics, Food & Agriculture, Environment & Sustainability, Finance & Public Institutions and Business Governance. With a turnover of over 294 million Euros in 2013, over 2,500 employees, and 163 offices in 57 countries worldwide, RINA is recognized as an authoritative member of key international organizations and an important contributor to the development of new legislative standards.

 
For more information:

Giulia Faravelli
Media Relations Manager RINA
+39 010 5385505

 Susanna Gorni
Media Relations RINA
+39 010 5385555

 

 

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Wednesday 25 June 2014

Liberia says shipping does not need new regulations


The Liberian Registry has called on shipping regulators to ensure the effective implementation of existing rules to protect human life, safety and the environment, rather than creating new rules and regulations instead.

Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry, the US-based manager of the Liberian Registry, says, “It is the job of ship registries and other regulators to ensure the effective, efficient and practical implementation of rules and regulations. Unfortunately, the entire industry does not operate in this way. There are other regulators who are not enforcing the rules effectively and this is really troublesome because the result of ineffective implementation is yet more regulation. I think the industry already has enough regulations, and creating new ones just as a political or public reaction to accidents is very short-sighted.”

Bergeron describes as “critical and appropriate” the decision of IMO to choose ‘International Conventions – Effective Implementation’ as the theme for World Maritime Day 2014. He says, “The ISM Code should be the last regulation from IMO, because every new requirement, whether political, environmental or safety-related, could be incorporated into ISM. We don’t need new conventions. We don’t need new regulations. What we need is for everything to be encapsulated in a single operating concept such as the ISM Code. And we need improved management and effective implementation and enforcement of provisions such as ISM. If all the measures needed to protect safety and the environment are in that one code, and if that code is effectively implemented and enforced, there will be no need for new regulations as a knee-jerk reaction to individual or collective incidents.

“Liberia applauds IMO and calls on other flag states to work together with Liberia to achieve effective implementation of existing regulations. Too much time, too much energy and too much expense has been wasted on new regulations. Let’s focus on the ones we have, and make sure they are working properly, rather than creating new ones.”

The Liberian Registry is one of the world’s largest and most active shipping registers, and has long been considered the world’s most technologically advanced maritime administration. It has a long-established track record of combining the highest standards of safety for vessels and crews with the highest levels of responsive service to owners. www.liscr.com

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Thursday 19 June 2014

Seacurus calls for enforcement of Port State Control regulations on MLC

Specialist marine insurance intermediary Seacurus has called for proper enforcement of Port State Control regulations in the lead-up to adoption of amendments to the Maritime Labour Convention 2006 designed to protect abandoned seafarers and seafarers injured in occupational accidents.

The MLC amendments are scheduled to enter force in early 2017, at which point those countries which have ratified MLC 2006 will be bound by those amendments unless 40 per cent of ratifying nations reject the new provisions in writing.

Before then, however, on 20 August 2014, an ILO resolution agreed by member states in 2006 comes into effect whereby full Port State Control (PSC) can be applied by nations which are a party to MLC 2006, regardless of whether or not the ships being inspected are flagged with nations which have ratified the convention. This is the so-called ‘no more favourable treatment’ clause which seeks to ensure a level playing field whereby ships of countries which have ratified MLC 2006 will not be placed at a competitive disadvantage.

Seacurus managing director Thomas Brown says, “This rigorous inspection programme may force shipowners to demonstrate to PSC inspectors that the crew managers and seafarer recruitment and placement services with whom they work can confirm compliance with Regulation 1.4 of MLC 2006 by providing evidence of a system of financial security to cover seafarers’ monetary loss in the event of their employers’ contractual default.

“It is to be hoped that this regulation, if properly enforced by PSC, will offer a degree of protection to those at sea over the next two and a half years, while the industry prepares for the now inevitable regulatory requirement in 2017.”


Seacurus Ltd, part of the Barbican Insurance Group and authorised and regulated by the FCA, is an insurance broker founded in 2004, specialising in bespoke revenue protection cover for the maritime industry. In 2013 it launched CrewSEACURE, the first ever insurance policy designed exclusively to protect the rights of seafarers when ships are abandoned at sea. Seacurus is a market leader in the design and implementation of solutions to protect companies from unforecasted balance-sheet impacts, including credit default, charter party cancellations, hijackings and voyage disruptions caused by political events. Seacurus established the first delegated underwriting binding authority for marine kidnap insurance and is an approved Lloyd’s Coverholder. www.seacurus.com


Formed in 2007, Barbican Insurance Group underwrites business predominantly through its Syndicates at Lloyd’s. It also has a non-Lloyd’s financial solutions business based in Guernsey which offers insurance and reinsurance programmes to the global market and number of service companies including, Barbican Underwriting Limited, Castel Underwriting Agencies Limited, Professional Indemnity Protect Limited and Seacurus Limited.

Barbican Syndicates at Lloyd’s have a stamp capacity of £250m for the 2014 year of account and underwrite marine, aviation and transport re/insurance, property re/insurance and specialty lines including casualty reinsurance, cyber liability, healthcare liability, financial and professional lines and professional indemnity.

www.barbicaninsurance.com

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Bureau Veritas launches industry-backed tug guidelines

Leading international classification society Bureau Veritas has worked closely with the towing industry to develop a comprehensive set of Guidelines for Design, Construction and Operation of Tugs. The Guidance Note provides harmonised and rationalised safety rules for tugs in an area of marine safety where there are many vessels not covered by international conventions and no agreed international rule framework.

Gijsbert de Jong, business development manager for offshore service vessels and tugs at Bureau Veritas says, “Active involvement with industry stakeholders was vital to building these rules. They are pragmatic and they are developed around the latest technical developments with an open mind towards innovation.”

Bureau Veritas has worked in close co-operation with a number of industry leaders, including Robert Allan Ltd, Damen Shipyards, Smit Lamnalco/Smit Towage and Kotug International, building the new framework on feedback received on experience with the work of the SafeTug JIP, which reported in 2010.

The rules allow designers and builders to select an operational profile and safely configure the tug accordingly. The requirements cover design loads, stability criteria, strength and operational criteria for towing equipment and anchor equipment. For ships not covered by the SOLAS Convention, a practical safety matrix with requirements for fire safety, life-saving appliances, radio installations and navigation equipment is included which takes into account the familiarity of the crew with the operating area and the availability of shore facilities and emergency assistance.

The tug’s design capability limits are clearly set out. For harbour tugs and seagoing tugs, the maximum bollard pull will be indicated, while for escort tugs the maximum steering force, maximum braking force and maximum escort speed will be stated.

Says de Jong, “Bureau Veritas is the world leader in the classification of tugs, with over 1,650 tugs in class and 300 newbuilding tugs on its order book. That represents a 22 per cent market share of IACS-classed tugs. The global market for tugs is changing quickly as ship sizes increase. There are also more offshore terminal operations, broader escort requirements and increased pressure to reduce emissions. One of the issues facing the tug industry is a lack of clear global safety guidelines and rules. BV’s new Guidelines for Design, Construction and Operation of Tugs will set a new baseline for all tug builders and operators and help make the whole industry safer and more effective.”


For a graphic go to http://bit.ly/1jw4QLQ or email chris@merlinco.com

For a copy of the guidelines e mail gijsbert.de-jong@bureauveritas.com


Bureau Veritas is a world leader in conformity assessment and certification services. Created in 1828, the Group has 61,000 employees in around 1,330 offices and laboratories located in 140 countries. Bureau Veritas helps its clients to improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.

www.bureauveritas.com for corporate information

www.veristar.com for marine information

For more information:

Gijsbert de Jong
Bureau Veritas
+33 685263741
gijsbert.de-jong@bureauveritas.com


Philippe Boisson
Bureau Veritas
+33 (0)1 55 24 71 98
philippe.boisson@bureauveritas.com

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Wednesday 18 June 2014

RINA awards Best Management Scheme certification to MSC Cruises

International classification society RINA has certified MSC Cruises under its Best Management Scheme. The innovative goal-based scheme recognizes management excellence, setting standards which go beyond the requirements of statutory rules and codes such as ISM (International Safety Management), ISPS (International Ship and Port Facility Security) and MLC 2006 (Maritime Labour Convention).

The certification covers all aspects of managing a cruise line company with particular attention to safety operations and the training required to deal correctly with emergency situations.

MSC Cruises was assessed using a points-based system across all management areas and obtained the highest possible scores in the fields of safety, management and sustainability.

The objective of the scheme was to certify excellence in three specific areas. With regard to protection of the environment, particular attention was paid to sustainability and energy-saving initiatives. Human resources, meanwhile, encompassed recruitment and training of staff both at sea and ashore, good management, the health and safety of personnel and passengers, and food and service for guests. The technical issues covered included operational and technical competence, energy efficiency, and emergency response. Anti-piracy measures were also evaluated.

The awarding of the Best Management Scheme certification demonstrates that MSC Cruises was audited according to a scope that encompasses more than just the direct technical management of cruise ships. The scheme takes into account a broader and deeper range of issues relevant to safe and efficient operation, including consumables, logistics, services, safety and equipment maintenance. The key role of people in the safe management of a complex business like a cruise line is fully recognized by this certification.

RINA Services S.p.A. is the RINA group company active in classification, certification, inspection and testing services. RINA is a multi-national group which delivers verification, certification, conformity assessment, marine classification, environmental enhancement, product testing, site and vendor supervision, training and engineering consultancy across a wide range of industries and services. RINA operates through a network of companies covering Marine, Energy, Infrastructures & Construction, Transport & Logistics, Food & Agriculture, Environment & Sustainability, Finance & Public Institutions and Business Governance. With a turnover of over 295 million Euros in 2013, over 2,500 employees, and 630 offices in 57 countries worldwide, RINA is recognized as an authoritative member of key international organizations and an important contributor to the development of new legislative standards. www.rina.org


MSC Cruises is the market leading cruise company in the Mediterranean, South Africa and Brazil and operates across the globe. MSC Cruises sails throughout the year in the Mediterranean and in the Caribbean and offers a wide range of seasonal itineraries in Northern Europe, the Atlantic Ocean, the French Antilles, South America, Southern Africa, as well as Abu Dhabi and the Emirates. Its modern fleet comprises twelve ships: Fantasia-class MSC Preziosa, MSC Divina, MSC Splendida and MSC Fantasia; Musica-class MSC Magnifica, MSC Poesia, MSC Orchestra, and MSC Musica; Lirica-class MSC Sinfonia, MSC Armonia, MSC Opera and MSC Lirica. MSC Cruises is the only company in the world to receive the "7 Golden Pearls" award from the Bureau Veritas in recognition of its high level of quality management and environmental responsibility. MSC has also achieved ISO 9001 and ISO 22000 certification for the quality and food safety of all aspects of its catering, both on shore and on board. MSC Cruises believes that global leadership brings increased responsibility towards the physical and human environments in which it operates. As such, a long term partnership with UNICEF was undertaken in 2009 to support educational programmes for children in Brazil, for which almost three million euros were raised. The partnership was renewed early 2014, this time to support UNICEF’s efforts to tackle famine and malnutrition in developing countries and in emergency situations.

For more information:
Giulia Faravelli
Media Relations Manager RINA
+39 010 5385505
giulia.faravelli@rina.org


Susanna Gorni
Media Relations RINA
+39 010 5385555
susanna.gorni@rina.org

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Wednesday 11 June 2014

Bureau Veritas offshore rolling research rewarded

A team in the R&D department of leading international classification society Bureau Veritas, working with Brazil’s Petrobras, has been awarded the prestigious OMAE 2013 Best Paper of Offshore Technology Symposium for its paper detailing ground breaking research into second-order rolling of FLNGs.

 The basic research in the paper has led to a Joint Industry Project involving nineteen companies including most of the energy majors and managed by Bureau Veritas which is developing harmonised guidelines for the estimation of roll motions of FPSOs.

The award was made yesterday by the American Society of Mechanical Engineers (ASME) at the ASME 2014 International Conference on Ocean, Offshore and Arctic Engineering held in San Francisco.
The award was given to Flavia C. Rezende, Manager, Bureau Veritas Technology Center, Rio de Janeiro,   Allan C. de Oliveira, Petrobras R&D Center, Xiao-bo Chen, Director, Bureau Veritas Deepwater Research and Technology Center, Singapore and Fabio Menezes, Petrobras R&D Center, Rio de Janeiro.

The paper, entitled “A Comparison of Different Approximations for Computation of Second Order Roll Motions for a FLNG”, details extensive research into the roll motions of FPSOs or FLNGs with long natural periods, above the periods of the waves, which is a non-linear response not yet fully understood. That research led to the start of the JIP Non Linear Roll which will deliver its results next year.

For a graphic go to http://bit.ly/1jw4QLQ  or e mail john@merlinco.com

 l Bureau Veritas is a world leader in conformity assessment and certification services. Created in 1828, the Group has 61,000 employees in around 1,330 offices and laboratories located in 140 countries. Bureau Veritas helps its clients to improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.

 
www.bureauveritas.com  for corporate information                              www.veristar.com for marine information

For more information: 

Philippe Boisson
Bureau Veritas
+33 (0)1 55 24 71 98
 

 

 

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Monday 9 June 2014

Marine rebound strengthens RINA results

International engineering, testing, certification and classification group RINA has reported improved results for 2013. Its performance was strengthened by an upturn in marine activities and a drive to improve efficiency and drive down costs.

RINA turnover for 2013 increased 4 per cent to 294m euros, while EBITDA was up 6 per cent to 37.2m euros.

Ugo Salerno, RINA Chairman and CEO says, “Returning confidence in the global marine markets and a new management team which took on their responsibilities with enthusiasm at all levels meant the group exceeded expectations in 2013. In 2013 we passed a turning point, both for RINA and for the global economy. We saw confidence returning across almost all sectors and in all regions of the global economy. Crucially, we also saw confidence building in RINA’s ability to take advantage of the opportunities which the improving economy presents.”


In the ship classification sector RINA Services’ classed fleet grew to 4,761 vessels totalling 33.5m gt. The fleet ended the year well balanced across the bulk, tanker and passenger sectors. 231 new ships built to RINA class totalling 6.1m gt joined the classed fleet. Shipowners who had experienced RINA’s service moved significant numbers of ships in service into RINA class during 2013. These included twenty-one Chinese-owned vessels and seventy-nine Greek-owned vessels.

Shipowners responding to better markets began ordering ships again and that strengthened RINA Services’ order book worldwide. The year ended with RINA Services’ newbuilding order book totalling 650 ships of 4.8m gt. Twenty-five of these are passenger vessels, including some major cruise ships.


Of special interest were new orders for two 620-passenger 40,350 gt cruise ships to be built at Fincantieri for Seabourn Cruises and Silverseas under RINA Class and two 3,500-passenger 124,000 gt cruise ships to be built at MHI, Japan for Costa/Aida, with dual RINA/DNV-GL class.


Says Salerno, “Outside the marine sector we had a busy year of growth and diversification. That led to the acquisition of two smaller certification businesses, and at the year end, to taking a major shareholding in CSM, a leading material’s technology company. CSM gives RINA high level skills and technologies in testing, analysis and materials which will serve us across all industries, especially oil and gas. Further growth through acquisition is expected for 2014 following an initial investment of 25m euros into the group in 2014 by Intesa Sanpaolo and VEI Capital.”

 
RINA also bore down on costs and improved internal performance during 2013. Says Salerno, “Clarity in our structure is an important component of growth. It enables all our colleagues to see their responsibilities clearly and it enables us to drive the exact services our clients need to where they need them. That is why we made a clear division during 2013 between our E and TIC services. All our consulting Engineering services were consolidated under the D’Appolonia brand and all our Testing, Inspection and Certification services are concentrated under RINA Services and its subsidiaries. That clarity helps us streamline our processes and makes it easier for clients to find the service they need.”


To read RINA’s Annual Report online click here: http://www.rinagroup.org/_files/pdf/annualreport_flippingbook/2013/index.html 

RINA is a multi-national group which delivers verification, certification, conformity assessment, ship classification, environmental enhancement, product testing, site and vendor supervision, training and engineering consultancy across a wide range of industries and services. RINA Group operates through a network of companies covering Marine, Energy, Infrastructures & Real Estate, Transport & Logistics, Food & Agriculture, Environment & Sustainability, Finance & Public Institutions and Business Governance. With a turnover of around 294 million Euros in 2013, over 2,500 employees, and 163 offices in 57 countries worldwide, RINA Group is recognized as an authoritative member of key international organizations and an important contributor to the development of new legislative standards.

For more information:

Giulia Faravelli
Media Relations Manager RINA
+39 010 5385505

 

Susanna Gorni
Media Relations RINA
+39 010 5385555

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Unmanned surface vehicles move a step closer


Unmanned surface vehicles or seagoing drones have come a step closer to reality following successful tests of a recovery system.

 
Read about it and news of other boat handling systems and NORSOK compliant davits in the latest newsletter from Norway’s Vestdavit.

 
Vestdavit designs, supplies and supports tailor-made solutions for launching and recovering boats in difficult conditions at sea.

For a copy of the newsletter e mail john@merlinco.com or go to www.vestdavit.no

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Tuesday 3 June 2014

Failure to incorporate terms and conditions proves costly for marine surveyor

ITIC has emphasised the need for marine surveyors and other shipping and transport intermediaries to include their terms and conditions in all their business dealings in order to protect their position in the event of potential legal action.

In the latest issue of its Claim Review, ITIC cites the case of a marine surveyor instructed by the shippers of a cargo of wheat to survey and certify the holds of a bulk carrier as fit for loading. The surveyor issued a certificate of fitness to load, and 70,000 metric tonnes of wheat was loaded. Following the arrival of the ship at the discharge port, the local authorities ordered the stevedores to stop discharge operations because they suspected that the cargo was heat-damaged. A subsequent survey report, obtained by the shippers, indicated that the cargo was contaminated by de-laminating paint, rust, dirt and paint powder from the ship’s holds.

The shippers negotiated a reduction in price with the receivers as a result of the deterioration of the cargo, and pursued a claim against the shipowners under the terms of the contract of carriage. That dispute was resolved at mediation, but the shippers then brought a separate claim against the surveyor. They were seeking to recover alleged losses in excess of $1m, including loss of sale proceeds, additional hire paid to the owners, and costs, on the basis that the surveyor had negligently certified the vessel as fit for loading in circumstances when it was not.

ITIC appointed lawyers, and expert evidence was sought. That evidence suggested that the damage may have been caused by bobcats used in cargo discharge operations. The surveyor had terms and conditions which – if properly incorporated into its business dealings – would have reduced its liability to a fraction of the shipper’s claim. Unfortunately, the surveyor had not explicitly made the shipper aware of the terms and conditions, so it was unlikely that a court would find that these had been incorporated into the business dealing.

It also became apparent that, after the surveyor had inspected the vessel, customs inspectors had carried out their own inspection and had ordered that the vessel be cleaned prior to loading. This was both helpful and unhelpful for the surveyor: while it was a strong indication that the surveyor had failed to properly carry out its survey, it also arguably meant that it was not the surveyor’s report that the shippers were relying on, but rather customs’ approval to load.

A mediation took place, but the claim could not be settled. Negotiations continued nevertheless, and the matter was resolved with the surveyor contributing to around 30 per cent of the claim, which was covered by ITIC.

ITIC has written guidelines on the incorporation of terms and conditions, which can be found at: : http://www.itic-insure.com/rules-publications/article/guidelines-on-incorporating-standard-terms-and-conditions-129819/

Copies of the ITIC Claim Review can be requested from: chris@merlinco.com
If you wish to discuss your

ITIC is managed by Thomas Miller. More details about the club and the services it offers can be found on ITIC’s website at www.itic-insure.com


For more information:
Charlotte Kirk
ITIC
Tel. +44 (0)20 7338 0150
Fax. +44 (0)20 7338 0151
charlotte.kirk@thomasmiller.com

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Monday 2 June 2014

RINA tackles ocean noise pollution

International classification society RINA has acted to tackle noise pollution of the seas by developing a voluntary notation which will apply to vessels for which efforts have been made to mitigate underwater noise.

Paolo Moretti, Head of the Marine Business Line, RINA Services, says, “Noise is the new pollution. The international community has raised concern that the underwater noise generated by commercial shipping may have negative consequences on marine life, especially marine mammals. RINA is tackling that with a new voluntary notation, DOLPHIN, which gives shipowners a clear option to specify commercial vessels which have implemented solutions to minimize radiated underwater noise.”

IMO has recently published MEPC Circ. 833 “Guidelines For The Reduction Of Underwater Noise From Commercial Shipping To Address Adverse Impacts On Marine Life” which sets out advice on design and operational solutions that may be adopted to reduce underwater radiated noise.

The International Organization for Standardization (ISO) has developed the (ISO/PAS) 17208-1 – Acoustics – Quantities and procedures for description and measurement of underwater sound from ships – Part 1: General requirements for measurements in deep water and ISO/DIS 16554 – Ship and marine technology – Measurement and reporting of underwater sound radiated from merchant ships – deep-water measurement.

RINA has combined these standards into the DOLPHIN notation, which will be applicable from 1 July 2014. It has been developed in response to demand from clients who operate in sensitive marine areas and who wish to demonstrate that they have acted to mitigate the impact of their vessels.

The notation will only be granted to vessels which comply fully with both sets of regulations. The notation will give requirements on instrumentation, site and procedures to carry out the measurements, and will describe the information and post-processing activities necessary for reporting. Limits both for when the ship is underway and quiet ship operational modes are established.

RINA Services is able to provide sound radiation evaluation services, including underwater sound radiation, and measurements and design recommendations to reduce aerial noise and underwater noise.

Visit RINA at Posidonia Stand No 3.211
RINA Services S.p.A. is the RINA group company active in classification, certification, inspection and testing services. RINA is a multi-national group which delivers verification, certification, conformity assessment, marine classification, environmental enhancement, product testing, site and vendor supervision, training and engineering consultancy across a wide range of industries and services. RINA operates through a network of companies covering Marine, Energy, Infrastructures & Construction, Transport & Logistics, Food & Agriculture, Environment & Sustainability, Finance & Public Institutions and Business Governance. With a turnover of around 280 million Euros in 2012, over 2,500 employees, and 150 offices in 53 countries worldwide, RINA is recognized as an authoritative member of key international organizations and an important contributor to the development of new legislative standards. www.rina.org.

For more information:
Giulia Faravelli
Media Relations Manager RINA
+39 010 5385505

Susanna Gorni
Media Relations RINA
+39 010 5385555

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Bureau Veritas optimises container stowage and lashing

Leading international classification society Bureau Veritas has launched a voluntary notation for containerships which will allow more flexible container stowage depending on the ship’s loading condition.

The notation, LASHING WW, is based on ships being fitted with an approved lashing computer, which will allow computation of container stack weights and required lashing using acceleration levels corresponding to the ship’s loading condition and worldwide area of operation

Jean-Francois Segretain, Marine Technical Director, Bureau Veritas, Marine and Offshore division, says, “Current lashing and stowage rules for deck containers rely on defined transverse accelerations which are not really accurate for large modern vessels along their whole length. Our research and data from real ships in service shows that accelerations in the midships section of container vessels are always closely correlated with the natural roll period of the ship and could often be much less than those set down in the present rules for lashing calculations.

“Using the right software fitted on board, and taking into account the ship’s area of operation (worldwide or mainly in North Atlantic or North Pacific area) and loading condition, the appropriate accelerations can be used to optimise the loading plan or lashing or to allow heavier containers to be stowed higher in the tiers.”

BV’s calculations show that stack weights midships for ULCs using BV lashing software can be increased by up to 22 tonnes per container stack. Without the requirements of this notation, container ship lashing plans must be checked against the most demanding loading conditions, so requiring a maximum one-size-fits-all transverse acceleration figure. LASHING WW offers a more precise evaluation by using actual transverse accelerations without losing the safety margin.

Says Segretain, “This approach is simple and quick and offers much greater cargo and lashing flexibility without compromising safety, compared to existing rules or route-dependent systems which are still using the global assumed transversal accelerations without considering the influence of the natural roll period which varies with the loading condition of the ship.”

For a graphic go to http://bit.ly/1jw4QLQ or e mail john@merlinco.com

Visit Bureau Veritas at Posidonia Stand No 2.201

Bureau Veritas is a world leader in conformity assessment and certification services. Created in 1828, the Group has 61,000 employees in around 1,330 offices and laboratories located in 140 countries. Bureau Veritas helps its clients to improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.

www.bureauveritas.com for corporate information www.veristar.com for marine information

For more information:
Jean-Francois Segretain
Bureau Veritas
+33 (1) 55 24 72 00
jean-francois.segretain@bureauveritas.com

Philippe Boisson
Bureau Veritas
+33 (0)1 55 24 71 98
philippe.boisson@bureauveritas.com

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