More Countries to Gather for Posidonia 2008

Posidonia has set another milestone in its 40 year-long history by registering the highest number of participating countries than any other international maritime event for its 21st edition, to be held in Athens in June.

In addition to an increase from participating companies from established maritime nations, companies from the Central American Republic of Honduras, Iceland, Luxemburg and Mongolia are making their Posidonia debut this year further increasing the total number of participating countries to almost 80, setting a new show record and reiterating the event’s status as the world’s most international shipping trade fair. And this year’s event is also inching closer to yet another landmark for the most national pavilions ever fielded at Posidonia with Romania, Argentina, Sweden and Honduras bringing the total number of national pavilions to 22, confirming the event’s truly global appeal and increasing commercial credentials as the ultimate business-making forum for the world’s shipping community. Over 300 Asian exhibitors have confirmed their presence at the Athens International Exhibition Centre this summer, nearly three times the number that attended the 2000 event. A third of them will come from China and 62 from Japan, with Singapore and Korea together accounting for 50% of Asia's total Posidonia 2008 exhibitor participation. Posidonia 2008 is sponsored by the Ministry of Mercantile Marine, The Aegean and Island Policy, the Municipality of Piraeus, the Hellenic Chamber of Shipping, the Union of Greek Shipowners, the Greek Shipping Co-operation Committee, the Mediterranean Cargo Vessels Shipowners Union, the Association of Greek Coastal Shipping Companies and the Association of Greek Passenger Shipping Companies.
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German bank to open ship finance centre in Dubai

The bank, a subsidiary of international banking major UniCredit and headquartered in Hamburg, Germany, is planning a "substantial expansion" within its ship finance business, quoted Torsten Temp, executive manager for the sector. "Starting from Dubai, HVB is looking to expand its ship finance business in the region to India and Pakistan as well," Temp said. Together with financing subsidiaries in Singapore, Oslo and Piraeus, Greece, the sector then will be pooled in the new 'Unicredit Global Shipping' department. In 2009, another subsidiaries may be opened in North America, Turkey and Russia. Its ship finance business has remained untouched by the international credit squeeze so far, the bank said, and is not as prone to speculation as other sectors like real estate. HVB's credit volume for ship financing, container leasing and other offshore maritime activities amounted to eight billion euros last year, adding 1.5 billion euros from Unicredit's business in the same sector. The growth rate in 2007 has been more than ten per cent, Temp said, expecting a double digit growth this year as well. The bank's competence centre for the worldwide ship finance business will remain in Hamburg, one of Europe's largest commercial ports besides Rotterdam, Netherlands.

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Gulltopp is world record well

StatoilHydro has successfully completed the most complicated well in the company's history.

It has set a record for the longest producing well in the world drilled from an offshore platform. At almost 10 kilometres (6.2 miles) long and almost completely horizontal, the Gulltopp well on the Gullfaks field has seen hydrocarbons flowing up through the well at 9,910 metres (32,513 ft). StatoilHydro Head of Operations West Arne Sigve Nylund said, "This is a day of rejoicing both for Gullfaks and StatoilHydro. We were aware of the risk that Gulltopp drilling from the platform might fail. This makes it extra great that we today have successfully completed the company's most demanding drilling operation." The experience gained by StatoilHydro is very valuable to the further development of both remote prospects at Gullfaks and on other fields in the company's portfolio. Gulltopp will, together with other prospects in the area, secure continued Gullfaks operations towards 2030. An extensive plan for how to extend the life of the field, which came on stream back in 1986, has been developed. The 10 kilometre drill pipe was controlled from the drilling rig at the sea surface. It was run 150 metres down to the seabed, and then kilometre after kilometre through various types of rock strata.
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Japan fleet misses whaling target

Japan's whaling fleet has failed to catch its quota, after being disrupted by clashes with anti-hunting activists.

The fisheries agency said the fleet caught 60% of the minke whales they had planned - 551 from a target of 850. The ships, which were followed around the Antarctic by activists, are due to return to port in the next few days. It was the first time in 20 years that protests had prevented the whalers from reaching their targets. Japan's fleet set sail for the Antarctic last November. But officials said they lost 31 days of hunting because of the protests. "Sabotage by activists is a major factor behind our failure to achieve our target," a fisheries agency official said. Environmental group Greenpeace, which tailed the whalers for weeks, said it was disappointed the fleet had still managed to cull so many animals. Greenpeace pointed out that this year's quota was much higher than in previous years. Despite missing their target, this means the Japanese have still killed far more whales this year than three years ago, the group said. The Sea Shepherd Conservation Society which was involved in violent clashes with the whalers claimed its campaign saved hundreds of animals. Last year fewer whales were culled than had been planned because of a fire on one of the Japanese vessels. Tokyo says it carries out whaling for scientific research, but critics say the same data can be collected without killing the animals.

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US Navy cargo ship opens fire

An American cargo ship under contract to the US Navy has opened fire on a small Egyptian boat while moving through the Suez Canal.

Egyptian authorities said at least one man was killed, but the US reports no casualties. The 'Global Patriot', which was under short-term charter to the navy's Military Sealift Command, had entered the canal from the Red Sea at Suez last week, when it was approached by several small boats. "The boats were hailed and warned by a native Arabic speaker using a bullhorn to warn them to turn away. A warning flare was then fired. One small boat continued to approach the ship and received two sets of warning shots 20 to 30 yards (18 to 27 metres) in front of the bow. An Egyptian security official at the canal said that after the warning shots, a man was shot dead in the small boat and that the three other men with him were wounded. Small boats selling products often swarm the civilian ships moving through the canal. Though the merchants know better than to approach military vessels, the 'Global Patriot' looked like a civilian vessel. The 'Global Patriot' is registered to the New York-based Global Container Lines. About 7.5 percent of world sea trade passes through the Suez Canal.

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Soaring claim costs transform marine insurance market

Hull claim insurance costs in 2007 have gone up 86% over five years, according to Norway's Central Union of Marine Underwriters' (CEFOR).

The "alarming trend" of high costs have resulted from a low US dollar, strong market conditions and the rising price of raw materials and expense increases in meeting claims such as higher towage and salvage rates, cargo values, pollution fighting equipment, replacement parts and lack of capacity in repair yards, said CEFOR. "Increased environmental sensitivity has created more complex and costly salvage and wreck removal situations," it said, adding that with claims costs likely to continue growing in the future, the industry must take further steps to manage costs without risking safety. According to the 2007 Nordic Marine Insurance Statistics (NoMIS), the average cost of a claim occurring during the period between 1995 and 2003 was $210,000. In 2007, the average claim cost rose to $386,000.

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RTA to restructure marine mass transit systems in Dubai

The Marine Agency at the Roads and Transport Authority (RTA) in Dubai is planning to restructure the marine mass transit systems in Dubai so as to improve efficiency, according to a senior official from RTA.

The agency has compiled a study in this regard.

"The agency is considering restructuring on operational lines and has come up with feasible and constructive proposals," according to Mohammed Obaid Al Mulla, CEO of Marine Agency. "These proposals aim to work out a well-defined methodology through which the basis of selecting operational modes could be established in accordance with the routes of existing and future mass transit lines," he said.

"Two more studies will follow soon. The first one will assess infrastructure requirements of marine transport and services, procedures of booking and allocating locations of stations," he said, adding that the second study would focus on planning locations of logistical support points for the fleet of marine transport.

This study includes booking locations for logistical support, refuelling, depots and maintenance points, as well as associated services required by passengers and clients.

Al Mulla hinted that the introduction of this methodology would bring about multiple benefits to the agency such as a 100 per cent elimination of the competition between the water bus and abra.

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