MarAd-Assistance to Small Shipyards Grant Program

The US Maritime Administration (MarAd) issued an amendment to its earlier announcement of the establishment of a new grant program to provide assistance to small shipyards.

The amendment clarifies the scope of the program and explains that, if the small shipyard does not have audited financial statements, it may submit financial statements compiled by an independent Certified Public Accountant.

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Bahamas joins two United Nations anti-fouling conventions

The Bahamas, with the world's third largest registered fleet, has signed on to two major IMO Conventions and deposited its annual assessment for 2008 with the UN organization.

Basil O'Brien, High Commissioner and Permanent Representative of the Commonwealth of the Bahamas to the IMO, has deposited with IMO Secretary-General, Efthimios Mitropoulos, instruments of accession to the International Convention on the Control of Harmful Anti-fouling Systems on Ships, 2001 (AFS Convention) and the International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001 (Bunkers Convention). The AFS Convention will prohibit the use of harmful organisations in anti-fouling paints used on ships and will establish a mechanism to prevent the potential future use of other harmful substances in anti-fouling systems. Parties to the convention are required to prohibit and/or restrict the use of harmful anti-fouling systems on ships flying their flag and all ships that enter a port, shipyard or offshore terminal of a participating nation, an IMO statement said. The AFS Convention will enter into force for the Bahamas in September 2008. Accession by the Bahamas brings the number of states having ratified the Convention to 28 and the tonnage figure to 43.79 per cent of the world's fleet. The 2001 Bunkers Convention was adopted to ensure that adequate, prompt and effective compensation is available to persons who suffer damage caused by oil spills when carried as fuel in a ship's bunkers, and will enter into force for the Bahamas in November. The Bahamas has also contributed US$2.41 million to the IMO's 2008 budget, based on the size of the nation's registered merchant shipping tonnage.
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Colombo ideal as mega containership hub, says Brussels expert

Colombo's location makes Sri Lanka ideal as a regional container transshipment centre, says Stefaan Vermeire, director general of the International Container Security Organisation in Brussels.

Colombo meets super ship needs, he said, and could be like the hub at Malta, but on a much larger scale because of its advantage of having a hinterland that generates cargo, reported Lanka Business Online.
The island nation's compliance with new global maritime security programmes led by the US, also means it can offer safe and fast transshipment services for cargo flowing from Asia to the US, he said. Mr Vermeire also reminded listeners that Colombo has achieved ISPS, CSI and MPI certification. The International Ship and Port facility Security (ISPS) is an International Maritime Organisation code meant to improve port and ship security while the Container Security Initiative and the Megaport Initiative are US security programmes designed to enhance container security and prevent smuggling of nuclear bomb making material.

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NOL and TUI appoint advisors for possible Hapag Lloyd merger

Neptune Orient Lines (NOL) and TUI AG have appointed advisors for a potential merger between the Singaporean shipping line and TUI's container shipping arm Hapag Lloyd, the Asian Wall Street Journal reports.

According to the report, NOL has selected JP Morgan as its advisor for the potential business tie-up with TUI, while the German company has appointed Deutsche Bank. Speculation erupted earlier this week about the rumoured NOL merger activity when CEO Thomas Held told the company's 2007 annual report webcast that NOL is prepared to play the role of an industry "consolidator". Since late January, there have been reports that a merger of the two is in the works, first prompted by appearances of TUI chief executive Michael Frenzel in Singapore. Some say such a merger would work well because each market complements the other, with the deal enabling APL to have a substantial Asia/Europe offering while giving Hapag-Lloyd access to the transpacific and the rapidly growing intra-Asia trade. Others say such a deal would make it hard for Hapag Lloyd to stay in the Grand Alliance with partners MISC, NYK and OOCL, or for APL to continue to work with its New World Alliance partners, Hyundai and MOL.

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