Overall confidence levels in the shipping industry fell during the three months to February 2015 to their lowest level for two-and-a-half years, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. Respondents to the survey identified overtonnaging as the biggest factor behind the fall in confidence, but also expressed concern about the effect on the industry of lower oil prices and the growth of investment by financiers from outside shipping.

In February 2015, the average confidence level expressed by respondents in the markets in which they operate was 5.5 on a scale of 1 (low) to 10 (high), down from the 5.7 recorded in November 2014. This is the lowest figure since August 2012, and compares to the record high of 6.8 when the survey was launched in May 2008.

Charterers recorded the biggest fall in confidence, down to 3.9 from 5.4 in the previous survey. Confidence on the part of owners was also down (from 5.5 to 5.4), while that expressed by managers was slightly up, from 6.1 to 6.2. Confidence in the broking sector was unchanged at 5.0. Geographically, confidence was down in all main areas covered the survey.

A surplus of tonnage, particularly in the dry bulk trades, dominated the comments of those who responded to the survey. One said, “Dramatic over-ordering in the dry cargo market in the last two years has led to the catastrophically bad market we have today. What is now even more frustrating is that those clever guys who thought that dry cargo newbuildings were a good idea are now starting to convert them to tankers. Excellent! Let’s hit another sector that has just found its feet with more unnecessary orders! When will people learn?”

Falling oil prices were another recurring theme among respondents, one of whom warned, “The trickle-down effect of cutbacks in the oil sector will result in a decrease in business across the board for companies in the shipping industry.”

A number of respondents expressed concern about the effect on the markets of the entry into the industry of new money from non-shipping investors. One complained, “Excessive liquidity from US markets being invested in Far East shipbuilding programmes is killing any improvement in the market.” Another, however, emphasised, “The markets have a way of correcting themselves, and the probable withdrawal of short-term investors should ease the tonnage imbalance.”

The survey revealed that the likelihood of respondents making a major investment or significant development over the next twelve months was down on the previous survey, on a scale of 1 to 10, from 5.3 to 5.1, the lowest figure since February 2012, although managers were more confident in this regard than they were three months previously. One respondent said, “Short-term investors are likely to exit the market at a loss when they find there is no quick and easy money to be made.”

The number of respondents who expected finance costs to increase over the next twelve months was down by eight percentage points to 32 percent, the lowest figure in the seven-year life of the survey. One respondent said, “Access to non-conventional ship finance has made it much too easy for vessel owners to order new tonnage far in excess of prospective demand growth.”

Demand trends, competition and tonnage supply featured as the top three factors cited by respondents as those likely to influence performance most significantly over the coming twelve months. The numbers for demand trends were down on last time from 25 percent to 24 percent, while those for competition were up one percentage point to 21 percent. Tonnage supply, up by one percentage point to 14 percent, displaced finance costs in third place this time. Fourth place was shared by finance costs (down by 2 percentage points to 12 percent) and operating costs, up by 2 percentage points. Meanwhile, fuel costs were unchanged at 7 percent, unsurprisingly the lowest figure recorded in this category since November 2010. One respondent said, “The expected advantages to be derived from eco-designs have been eroded by the collapse in the price of bunkers, leaving expensive assets chasing demand that is growing only slowly.”

Turning to the freight markets, there was a fall in the number of respondents anticipating improved rates in the tanker sector over the next twelve months, but increased expectation of higher rates in the dry bulk and container ship trades. Overall net sentiment, based on the difference between the number of respondents who expected rates to improve and the number who thought they would deteriorate, was positive in all three main tonnage categories covered by the survey.

One respondent said, “Strong demand driven by the fall in oil prices has strengthened the current crude oil shipping market,” while another noted, “The dry bulk sector is still suffering from overtonnaging in all ship sizes.” Respondents also remarked that containerisation was moving into some trades previously dominated by break-bulk ships.

Richard Greiner, Moore Stephens Partner, Shipping Industry Group, says, “Shipping is doing its best to live up to its reputation as a highly cyclical industry. Confidence has fallen to its lowest level for two-and-a-half years, having been at its highest for six years in first-quarter 2014. A year is a long time in shipping.

“The current state of the Baltic Dry Index (BDI) tells its own story. Having nudged towards 12,000 in mid-2008, it recently hit a thirty-year low of 509. Lower commodity prices, reduced demand and an oversupply of ships are among the reasons cited for this collapse in the world’s dry bulk freight rates.

“Overtonnaging is not so much the elephant in the room as the room itself. It is a major factor in the collapse of freight rates. Elsewhere, everything from continuing problems in the world economy to the imposition of sanctions (most recently those involving Russia) has helped neither the confidence nor the performance of the markets. Even the fall in oil prices, which at first blush might have seemed to be good news for an industry with such a high fuel bill, has its down side too.

“A number of respondents to the survey saw a link between what they regarded as easy access to non-traditional ship finance and a failure to improve the level of overtonnaging. There is a certain logic to this argument, but the day when shipping fails to attract new money from both internal and external investors is the time to really start worrying. Over the past twelve months and more we have seen the banks start to rediscover their appetite for shipping to some degree, while private equity investors have become increasingly significant players. The current ship finance market is much-changed from the traditional model which many of today’s established players grew up with. But different doesn’t have to be bad and, however volatile the market, new investment is essential to both survival and growth.

“None of this will be news to those experienced industry players who, to varying degrees, have seen tough markets before and who will find the wherewithal and the patience to ride out the current difficulties. It is less certain whether others will be able, or willing, to hold their nerve so well.”

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, offshore maritime 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 626 offices of independent member firms in 103 countries, employing 26,290 people and generating revenues in 2014 of $2.7 billion.

www.moorestephens.co.uk

For more information:
Richard Greiner
Moore Stephens LLP
Tel: +44 (0)20 7334 9191
richard.greiner@moorestephens.com

RINA to certify major Caspian port and logistics hub development

RINA Services has been awarded a contract to provide design review and third party certification services for a major port and logistics hub development at Turkmenbashi, on the Caspian Sea coast of Turkmenistan.

The $1.5bn Turkmenbashi International Port is being built by one of the leading Turkish construction companies, Gap Insaat Yatırım ve Dış Ticaret A.Ş. The port complex is due for completion in 2017 and will include four terminals, road and rail links, and a ship-repair yard. Freight throughput is expected to reach 25 million tonnes by 2020.

Michele Francioni, CEO, RINA Services, says, “RINA has been chosen for the project design review and construction monitoring and certification because we can bring together maritime, construction, infrastructure and project-management skills. RINA has a strong footprint in Turkmenistan, which is a growing and important trading nation in a key geo-strategic location. All parties respect our independence. We will provide our services to ensure the project is delivered on specification, making it a powerful economic generator in the Caspian region and a key link in the Silk Route.”

A major pipeline is already being built to link Turkmenistan’s Galkynysh gas field, the world's second-largest natural gas deposit, to Turkmenbashi. The port complex will export oil and gas products and textiles and facilitate trade between Europe and the Middle East and Asia.
Says Francioni, “RINA’s experience with and focus on the environment is a key factor. The State Service of Maritime and River Transportation of Turkmenistan intends that the new port will be built from the outset as part of a multi-modal network linking road, rail and water transportation in an environmentally-friendly way. We know about ports, we know how to manage environmental issues, we know Turkmenistan, we understand what they want and we have good experience of working with Turkish construction companies on major infrastructure projects.”

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. www.rina.org

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

Victoria Silvestri
Media Relations RINA
+39 010 5385555
victoria.silvestri@rina.org

AKD says lack of ship definition is threat to offshore and wind farm investors

ROTTERDAM-based law firm AKD says the lack of an unambiguous term to describe a ‘ship’ in several jurisdictions represents a potential threat to asset security for financiers, particularly in the offshore and renewable energy sectors.

AKD partner Haco van der Houven van Oordt says, “In many jurisdictions, including the US and the UK, there appears to be no clear definition of a ship. A recent Tulane Maritime Law Journal study illustrated how a variety of floating objects which have no means of propulsion and/or ability to carry cargo or passengers cannot easily be registered as a ship. FPSOs and MODUs, but also FTUs for offshore wind farms, fall into this category.

“Hence, securing asset finance for such units, the value of which can run into millions and even billions of dollars, may be problematic in many countries. Because the units are not ships, they cannot be entered in a ship registry, and no security such as a ship mortgage can be recorded.

“In the Kingdom of the Netherlands, including the Dutch Caribbean, it is a different story. These jurisdictions clearly define ships as ‘all objects which, according to their construction, are destined to float and which float or have done so’. There is no requirement for propulsion, and no need to demonstrate the ability of a unit to navigate and/or to carry cargo or passengers. All floating offshore structures can therefore be registered there.”

Attempts to establish a definitive categorisation of the term ‘ship’ in various jurisdictions have historically led to confusion and litigation. AKD partner Carel van Lynden notes, “This clearly is not acceptable to the financiers of the sorts of high-value, technologically advanced units operating in today’s offshore and renewable energy sectors. Lenders should be aware of the alternative and obtain a security right over floating units which are registered in the Kingdom of the Netherlands. ”

Note to editors
AKD’s Transport & Energy team provides a full range of legal services. AKD is a full-service firm with over 250 lawyers. www.akd.nl

RINA develops new rules for offshore platforms

Italy’s RINA Services has responded to the challenges of life extension and new regulatory regimes by completely updating its Rules for the Classification of Fixed Offshore Platforms. The new rules and guidelines will be published in May 2015 and will cover classification, certification and verification of fixed offshore oil and gas platforms.

Andrea Bombardi, Head of the Energy Department, RINA Services, says, “The rules and guidance provide a comprehensive guide to classification, certification and verification. They are a cradle-to-grave framework for the structural and process safety of the entire platform. They build on RINA’s experience with offshore platforms in the Mediterranean, Red Sea, Indian and Atlantic oceans and the Caspian Sea. The new rules facilitate life extension, reduce downtime caused by inspection and maintenance and give owners more choices and control over their design, operation and maintenance strategies.”

Original design, fabrication, installation, structural assessment, topside process certification, life extension assessment and de-commissioning are all covered.

Environmental protection is central to the new rules which have been developed with the aim of significantly reducing the risk of accidents and environmental damage.

Platform designers and operators can choose from and mix three approaches: classification, certification and verification.

Under each of the approaches RINA’s rules now allow for Load and Resistance Factor Design (LRFD), a probabilistic approach to structural assessment. International standards incorporated include API RP 2A and the ISO 19900 series.

The rules set out clear guidelines and requirements for assessing fatigue and corrosion issues to determine what must be done to allow platforms to continue to operate beyond their design life. The life extension approach incorporates Risk-Based Inspection (RBI) and risk-based maintenance planning. RBI can provide significant economic benefits for operators by better targeting of inspection and maintenance resources and reduced downtime.

RBI and monitoring and measurement in service are included in the requirements and guidance for topside process certification or verification.

Says Bombardi, “The new rules provide all parties with clear pathways and choices between all the most modern techniques and technology for the design, fabrication, installation, operation, life extension and de-commissioning of offshore fixed platforms.”

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 a photo of a fixed platform classed by RINA go to http://bit.ly/1FCPnZb or e mail john@merlinco.com

For more information:

Giulia Faravelli

Media Relations Manager RINA

+39 010 5385505

giulia.faravelli@rina.org

Victoria Silvestri

Media Relations RINA

+39 010 5385555

victoria.silvestri@rina.org

Moore Stephens welcomes good news for oil & gas sector in UK Budget

International accountant and shipping adviser Moore Stephens has welcomed further specific assistance to the offshore oil and gas sector contained in the UK Budget 2015.

Moore Stephens tax partner Sue Bill says: “The measures announced in the UK Budget 2015, following those already introduced in the Autumn 2014 Statement, are good news for the offshore oil & gas sector operating in the UK or UK Continental Shelf.

“In its Autumn 2014 Statement, the government confirmed that it would introduce an immediate 2 percent reduction in the rate of the Supplementary Charge, from 32% to 30%, with effect from 1 January 2015. This will now be further reduced to 20%.

“A new Investment Allowance has been announced to stimulate investment at all stages of the industry life- cycle, simplifying the existing system of offshore field allowances, and providing investors with greater certainty. The government also announced that it will reduce Petroleum Revenue Tax from 50% to 35%, and will provide £20m of funding for a programme of seismic surveys on the UK Continental Shelf.

“The Budget also announced that the notification requirement under draft legislation in the Finance Bill 2015 aimed at minimising aggressive tax planning by multinational enterprises is to be narrowed. This is welcome news. There are, in addition, some changes to the detailed rules. The Budget also included an announcement that there will be amendments to the rules for companies subject to the oil and gas regime.”

As announced in the Autumn Statement, the government will extend the ring-fence expenditure supplement from six to ten accounting periods for all ring-fence oil and gas losses and qualifying pre-commencement expenditure incurred on or before 5 December 2013. An allowance was also introduced in the Autumn Statement to support the development of high-pressure, high-temperature projects. From 3 December 2014, an amount of profits equal to 62.5% of the qualifying capital expenditure a company incurs will be exempt from the Supplementary Charge.

The Budget also introduced changes to legislation announced last year which is of interest to the shipping and offshore maritime sector. The Finance Bill 2015 contains a new exemption from withholding tax on interest on qualifying private placements (a type of unlisted debt) to help the provision of new finance for businesses and infrastructure projects, which may mean that it is easier for companies to raise finance without incurring withholding tax liabilities of up to 20% on interest payments, or dealing with the administration involved in claiming treaty relief. Following consultation, it appears that the requirement that the security must have a minimum term of three years will now be removed.

Changes will also be made to the exemption from UK capital gains tax for tangible moveable chattels which are wasting assets and which have never qualified for capital allowances. In future, the exemption will not apply if the asset has not been used in the owner’s business. This could mean that the exemption is no longer available where a company sells a vessel on delivery without using it for trading purposes.

Sue Bill concludes: “The measures just announced, together with those unveiled last year, underline the extent to which the UK government understands the strategic importance of the offshore oil and gas sector to the UK economy. They are good news for the offshore maritime sector, although it remains to be seen whether, in the light of the recent dramatic fall in oil prices, they will be sufficient to provide the industry with the boost it needs at a difficult time.”

Moore Stephens LLP is noted for a number of industry specialisations and is widely acknowledged as a leading shipping, offshore maritime 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 626 offices of independent member firms in 103 countries, employing 26,290 people and generating revenues in 2014 of $2.6 billion.

www.moorestephens.co.uk

For more information:
Sue Bill
Moore Stephens LLP
Tel: +44 (0)20 7334 9191
sue.bill@moorestephens.com

London P&I Club increases entry at recent renewal

The London P&I Club increased its entry of both owners and charterers business following the recently completed renewal season.

Ian Gooch, chief executive of the club’s management team, says, “The renewal took place against a backdrop of another challenging year for our members, reflecting the depressed freight markets in many shipping sectors. The particularly difficult trading conditions intensified the focus on costs, including P&I rates. This led to some tough negotiations, and it proved impossible to agree renewal in a few cases. There were also a few instances where our underwriters took the decision not to offer terms.

“Notwithstanding this difficult renewal environment, however, the club recorded further steady growth in its shipowners’ business, of 700,000 gt, with additions from new as well as existing members based in countries which included China, Greece, Singapore, Turkey and the UK. The club’s charterers’ entry also grew by over 3m gt during 2014/2015.

“Moreover, the increase in income earned by the club during the 2014 year, together with rate increases at renewal, means that premium levels continued to move in the right direction.”

www.londonpandi.com

Bureau Veritas to class Tallink`s high speed LNG-powered passenger ferry

Leading international classification society Bureau Veritas is to class a unique LNG-fuelled high speed and high capacity passenger ferry which has been ordered by AS Tallink Grupp for the Helsinki-Tallinn route. The 2,850-passenger vessel will have a service speed of 27 knots and will be built by Meyer Turku for delivery in 2017.

Philippe Donche-Gay, Executive Vice-President and Managing Director of the Marine & Offshore Division, Bureau Veritas, says, “Bureau Veritas has extensive experience with LNG as a fuel and with ground breaking major passenger ship projects. We bring the two areas of expertise together with this project which will allow the vessel to meet strict air emission control limits in the Baltic area.”

The 49,000 gt ferry will be 212 m long. The dual-fuel vessel is designed to operate in icy waters and for fast cargo and passenger turnaround at each end of the route.

Bureau Veritas subsidiary Tecnitas has already carried out risk assessment studies for the LNG bunker operations in Helsinki and Tallinn ports. Bunkering will be carried out in either port by truck or bunkering barge. Tecnitas will also carry out HAZID studies for the proposed LNG propulsion and storage on board.

Says Donche-Gay, “This is a demanding route over a short distance with a very high capacity vessel which will operate from early morning to late at night with short turnaround time and which will have to cope with severe winter conditions. Bureau Veritas will also provide statutory certification on behalf of the Estonian flag.”

For an artist’s view of the new ferry (courtesy Meyer Turku), click on http://bit.ly/1As4kK8  or e mail john@merlinco.com

VISIT BUREAU VERITAS AT CRUISE SHIPPING MIAMI STAND NO 2017

Bureau Veritas is a world leader in laboratory testing, inspection and certification services. Created in 1828, the Group has more than 66,000 employees in around 1,400 offices and laboratories located all across the globe. 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. Bureau Veritas is listed on Euronext Paris and belongs to the Next 20 index.

Compartment A, ISIN code FR 0006174348, stock symbol: BVI.

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

For more information:

Jean-Jacques Juenet

Business Development Manager, Passenger Ships

Bureau Veritas +33 (0)1 55 24 72 31

jean-jacques.juenet@bureauveritas.com

Philippe Boisson

Communication M & O   Director

Bureau Veritas +33 (0)1 55 24 71 98 

philippe.boisson@bureauveritas.com

RINA management software chosen for fast cruise ferries

Italy’s leading cruise ferry operator Moby S.p.A. has chosen the RINA InfoSHIP software suite for managing maintenance and purchase processes across its entire thirteen-ship fleet.

RINA InfoSHIP Maintenance and Purchase Module (MP), developed in cooperation with IB Software and Consulting, facilitates and reduces the costs of management of planned and unplanned maintenance, stocking and inventory.

Paolo Moretti, General Manager Marine, RINA Services, says, “Moby operates a modern fleet of high capacity and high speed cruise ferries on demanding trades. Choosing this software will deliver cost and operational efficiency benefits and minimize downtime. The choice confirms our strong partnership with Moby and RINA’s ability to assist owners and operators with operational services.”

The package of software which Moby will deploy is the core of the InfoSHIP suite and is equipped with a wide range of features for encoding and building a model of the technical structure of the ship, for the creation of an on-board database, for the control of the entire range of maintenance activities, and for managing the supply chain of spare parts, consumables, services and material management.

Moby has already implemented the InfoSHIP MS (Quality & safety Management) package which has delivered:

·   Tracking hazardous occurrences (Accidents/ Incidents/ Near-Misses) and promoting preventive actions, improving safety standards on board.

·        Monitoring safety equipment and managing quality and compliance documents to support ISM and SMS requirements.

Moby S.p.A. operates five 2,000+ pax high speed cruise ferries, two 1,600 pax cruise ferries and six mid-size ferries on routes linking the Italian mainland with Sardinia, Corsica and Elba.

RINA is the global classification leader for passenger ferries and joint leader in the combined cruise and ferry market globally.

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 a photo of a Moby fast cruise ferry go to http://bit.ly/1Mx6jR1  or e mail john@merlinco.com

VISIT RINA AT CRUISE SHIPPING MIAMI STAND NO 2159

Contacts:

Giulia Faravelli

Media Relations Manager RINA

+39 010 5385505

giulia.faravelli@rina.org

Victoria Silvestri

Media Relations RINA

+39 010 5385555

victoria.silvestri@rina.org

ITIC warns on fraudulent diversion of funds

International Transport Intermediaries Club (ITIC) says fraudulent diversion of funds is on the increase in the maritime sector.

Having previously issued a warning about the fraudulent diversion of port expenses, ITIC says it is now seeing evidence of similar frauds being perpetrated across the wider marine industry. In a typical such fraud, the party due to make a payment will receive a bogus message altering the recipient’s bank details. Examples have included the diversion of ship agents’ disbursements accounts. Ship managers are also among those who have been targeted.

The email addresses used by the fraudsters are only very slightly different to the genuine ones – perhaps a single letter being omitted. ITIC, noting that it is very difficult to spot these differences, says, “Any message changing account details should be regarded with suspicion, and steps taken to secure independent verification of instructions.

“By way of example, one shipbroker managed to frustrate an attempt to divert monthly hire payments by telephoning an owner’s accounts department to verify whether or not a request to forward funds was genuine. It wasn’t. The check should not involve replying to the suspect email, but rather using a different channel of communication or, at the very least, re-entering the email address copied from a message known to be genuine.”

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

Liberia takes the lead on wreck removal certification

After a successful launch of the Liberian Registry’s new online application system, delivery of Wreck Removal Convention certificates is faster and more convenient for shipowners. The system was set up to expedite shipowners’ compliance with the requirements of the Nairobi International Convention on the Removal of Wrecks 2007 (WRC), which comes into force on 14 April, 2015.

 

The convention requires owners of vessels of 300 gt and above to carry a certificate as evidence of compliance that insurance or financial security is in place to cover their liability under the convention. David Pascoe, Head of Maritime Operations & Standards for the Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the registry, says, “As with all regulatory issues affecting shipowners, Liberia has elected to take a highly proactive approach to WRC certification. Whether it be certificates for Liberian-flag ships or ships registered in States which are not a party to the WRC, owners find the online ordering process a speedy and efficient way to ensure their vessels are carrying a WRC certificate by the due date.

 

“We are very pleased to be able to assist many States that are not yet a Party to the WRC by issuing certificates for their shipowners, as allowed under the convention.  As a result, thousands of ships will continue to operate after 14 April, 2015 with certificates fully recognised by Port State Control authorities. It says a great deal about the high regard in which the Liberian Registry is held, and indeed about the typically proactive approach it takes to regulatory certification.”

 

Liberia is thus far the largest flag State party to WRC, thereby continuing its long and proud tradition of supporting international legislation designed to maintain and improve the safety and effectiveness of the shipping industry and protection of the marine environment.

 

Shipowners can apply for a Liberian WRC certificate online directly at: https://emaritime.liscr.com

 

          

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

Bureau Veritas supercharges RAM software

Leading international classification society Bureau Veritas has supercharged its RAM software suite Optimise© in order to help offshore operators and contractors to get more out of their assets and develop projects more cost-effectively.

Matthieu de Tugny, Senior Vice-President and head of offshore, Bureau Veritas, says, “Low and falling energy prices focus attention onto the Reliability, Availability and Maintenance (RAM) of both existing assets and plant and ongoing developments. A powerful RAM software tool like Optimise© saves time and money for asset owners and contractors by identifying bottlenecks in process and supply lines, by modelling potential failures and their consequences, and with our new Optimise© V3, by underpinning clear operational and strategic decision- making by allowing managers to see what will happen in different scenarios.”

Optimise© V3 has a clear and simple user interface for model building and results analysis. Production buffering, boosting and profile modification modes are available. Operational behaviour (ramp-up, restarts, line-pack drawdown rates) can be captured via a powerful conditional logic system. Through life value changes, including equipment phase-in and phase-out are easy to model. There is a wide array of failure and repair distributions. Gas contract analysis and equipment priorities on failure are included. Storage and shipping simulation allow the analysis of the entire product supply chain.

Explains De Tugny, “BV has huge experience with RAM studies for FPSOs, subsea installations and process plant types. We have special and unique experience with FLNGs over the last three years. We have committed substantial resources to bring that all together into one supercharged revision of Optimise© which is easy to use, quick and customisable. We can provide RAM studies using Optimise© but we are also making the software available to licence. We can provide training with the licence, so that operators, asset owners and contractors can get full value out of this powerful RAM modelling tool. It will show them how to save money and save downtime, the key issues in today’s market.”

For a screenshot of Optimise and a picture of Excelerate Energy’s Experience, an FSRU where Optimise was used, click on http://bit.ly/1As4kK8   or e mail john@merlinco.com

Bureau Veritas is a world leader in laboratory testing, inspection and certification services. Created in 1828, the Group has more than 66,000 employees in around 1,400 offices and laboratories located all across the globe. 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. Bureau Veritas is listed on Euronext Paris and belongs to the Next 20 index.

Compartment A, ISIN code FR 0006174348, stock symbol: BVI.

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

For more information:

Olivier Benyessaad

Offshore Business Development Manager

Bureau Veritas

+33 (0)1 55 24 72 07

olivier.benyessaad@bureauveritas.com

Multraship welcomes energy efficient hybrid tug

LEADING towage and salvage specialist Multraship has welcomed Multratug 28, an energy-efficient hybrid Damen ASD 2810-type tug with state-of-the-art FiFi 1 firefighting capabilities, into its fleet. Damen’s ASD 2810 Hybrid is a new design and this is the second of its class to be built. It features diesel-direct, diesel-electric and battery-powered propulsion systems. This hybrid configuration will enable Multraship to lower fuel costs by up to 30 percent and emissions by up to 60 percent.

Multraship managing director Leendert Muller said, “This new tug will provide clean and energy-efficient harbour towage in the Zeeland Seaports and Antwerp areas. It will also be on standby for fire- or explosion-related emergencies in the western and central part of the River Scheldt and for offshore services. As a traditional family-owned towage and salvage company we are very proud to be one of the world leaders in the deployment of hybrid tugs which set new benchmarks for environmentally-friendly operation.”

           

For a hi-res photo of Multratug 28 email: emuller@multraship.com

Multraship is a leading Dutch towage and salvage company. It draws on a century of experience in the maritime sector. Multraship’s core operations include harbour towage, ocean towage, salvage and services to the dredging, offshore and renewable energy industries. It operates and manages a large fleet of tugs, salvage vessels, floating sheerlegs and other craft equipped with modern towage, salvage and fire-fighting equipment and manned by experienced and highly-trained masters and crew. www.multraship.com

For more information contact:              

Eline Muller                                                 

Multraship B.V.                                            

Tel. +31 (0) 115 645 000                           

emuller@multraship.com

LISCR appoints new managing director for Hong Kong

The Liberian Registry has appointed shipping executive Gerry Buchanan as managing director of its dedicated office in Hong Kong.

As the recently retired president of Genco Shipping & Trading, Gerry Buchanan’s experience spans an extensive career in the management and operation of a wide array of ships. After successful careers with Denholm Ship Management and Canada Steamship Lines, Gerry was appointed as the managing director of Wallem Ship Management in Hong Kong. In 2005 he was appointed president of Genco Shipping & Trading, where he joined the team which oversaw the company’s successful transition from a private entity to a publicly traded company on first NASDQ and then the New York Stock Exchange.

Gerry says, “I relish the challenge of joining the world’s most innovative and responsive ship registry, helping it strengthen still further its position in an area of strategic importance for international trade and shipping. Hong Kong is a ship management stronghold, and I am looking forward to using my contacts, knowledge and experience to the advantage of the Liberian Registry and the continually growing number of shipowners whose vessels fly the Liberian flag.”

Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the Liberian Registry, says, “Gerry is the latest in a number of key executive appointments made by the Registry as we continue to strengthen our global presence and add further value to the services and expertise which we provide to owners and managers worldwide.

“Gerry has a unique blend of seagoing, shore-based and executive management, and we are delighted to have secured the services of such a highly regarded, experienced and knowledgeable person. Gerry has lived and worked in India, Italy, Canada, Hong Kong and the US, so he has the global outlook necessary to operate effectively in the shipping industry. We welcome him back to Hong Kong.”

www.liscr.com