transmar.gr Latest News http://www.transmar.gr/ Latest news hosted on transmar.gr Copyright transmar.gr. All rights reserved. <![CDATA[Lay-ups]]> LAYUP VSLS.jpg

Given the current state of the dry bulk market it is evident vessels may enter lay-up. Here, Clubs assess whether it is a "hot" or "cold" lay-up. Only in circumstances when they determine it is a cold lay-up will there be a reasonable return of premium granted.

The conditions for lay-up are typically:

- No cargo remaining on board
- Safe anchorage or berth as determined by Class or surveyors appointed by underwriters (Hull and/or P&I)
- Skeleton crew of no more than 2-3 crew watchmen remain on board
- Minimum number of days in one sequence of 30-45 days
- No hot works to be undertaken
- The vessel is effectively a dead ship

"Typically" the Clubs will agree between a 60%-75% return (dependent upon trading premium) of the P&I trading premium for the duration of the lay-up (no return for FD&D premium). It is important to establish real premium returns since the Clubs, in general, apply different methodology to the actual returns granted i.e. re-insurance, administration, retained premium etc., Upon re-activation, the trading premium is then re-registered.

For H&M, the majority of policies are for "Cancelling Returns Only" ("CRO") which means that no returns of premium are granted for lay-up, only for sales or scrapping etc. It is possible to re-negotiate this with underwriters but there are no guarantees they will agree to lay-up returns. However, they may agree a limited AP for H&M to the expiry of the policy on a fleet basis to reinstate lay-ups i.e. cancel the CRO condition, and then allow a 25% - 35% return on H&M "trading" premium for laid up periods in excess of 30 days, with a re-activation survey warranty if the vessel is laid up for more than 6 months. Premium returns are subject to satisfactory lay-up details.
If owners are willing to increase deductibles to say US$ 250,000 - US$500,000 each incident then underwriters may agree up to a 45% / 50% return. It is all subject to negotiation.

Port Risks

It is possible to cancel both H&M and P&I policies and attach cover on a port risk only policy whilst in lay-up but this only offers limited coverage, including limited P&I, up to Hull value.
Thus, for a claim for ATL/CTL, pollution, wreck removal or RDC/FFO etc. the P&I element of the claim will only cover to the maximum vessel(s) value. For the avoidance of any doubt, the limit for both Hull and P&I risk(s) is the hull value i.e. a combined single limit. It is, of course, possible to perhaps negotiate a separate limit of liability for the P&I but this will come at an additional premium.
The rate is not fixed i.e. a standard rate, and will be determined by the size of the vessel, value, location and firefighting / mooring arrangements etc., but this excludes crew cover which is typically placed as a separate cover.
Underwriters will agree a 5% (only) return for excluding P&I risks absolutely from the standard Time Clauses Hulls – Port Risks conditions.
It is possible, of course, to reduce values(s) to reduce premiums but this concurrently reduces the limits of liability available to owners.
It must be stressed this is a very limited form of cover and carries ‘risk’.

 

Iain Burley

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http://www.transmar.gr/agency/news.php?id=121 2016-02-26T00:00+02:00
<![CDATA[Cosco asked to raise its Piraeus offer]]> d6afbb94.jpg

Taiped accepts ‘significantly improved’ Cosco bid for Piraeus


Cosco Pacific has been given the go-ahead to buy a majority stake in Piraeus Port Authority, following its ‘significantly improved’ offer.

Taiped, the Greek privatisation agency, accepted Cosco’s €368.5 million bid for a 67% share in PPA, after rejecting an initial offer which was reported to be around €300m.

The deal will be in two phases – Cosco will initially pay €18.5m for 51% of the port authority and five years later, subject to other terms of the deal being met, it will pay another €88m to take the stake to 67%. Part of the agreement is that Cosco will invest €350m over ten years, while concession proceeds for Greece are forecast at €410m.

The transaction will be an important driver for employment growth and economic development around the port area, said Taiped.  Cosco, which already operates the larger part of the port’s container terminal in a 35-year concession, has already pushed Piraeus to become one of the fastest growing container ports in the Mediterranean.

Thessaloniki – Greece’s second port – and ten regional ports are also for sale under the privatisation programme required by international creditors. However, port privatisation has been opposed by trade unions and also caused fierce debate within the government.

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http://www.transmar.gr/agency/news.php?id=120 2016-01-20T00:00+02:00
<![CDATA[New RTG order at Piraeus Container Terminal]]> Kalmar-ERTG-Piraeus324-sm.jpg

Piraeus Container Terminal has placed a third large order with Kalmar – for an additional 15 all-electric rubber-tyred gantry (RTG) cranes to the value of €20 million. Kalmar previously supplied the Cosco-run terminal with 12 all-electric RTGs in 2013 and nine more in 2015.

“The zero-emission cranes, which are nine-plus-one wide and one-over-six high, will help us to achieve our goal of increasing capacity while meeting all the latest environmental demands,” said Mr Li Jianchun, deputy general manager of PCT.

The Kalmar E-One2 Zero Emission RTGs, which have a 41-ton SWL capacity,will be working in the Pier III expansion area, helping to enhance capacity in the yard, he added. “The RTGs apply new technologies that enhance productivity, reliability and flexibility, which we consider to be tremendous achievements.”

Mika Virtanen, vice president, STS and RTG Cranes, at Kalmar, said: “This order further consolidates our relationship with PCT. Together with the Kalmar SmartRail automatic gantry steering system, the Kalmar all-electric RTGs offer an optimal solution to the customer’s stringent requirements for safe operation around the yard, high capacity, zero carbon emissions and lower costs of ownership.”

The Kalmar E-One2 RTG’s highly efficient electric power system eliminates emissions, engine noise and the need for hydraulic oils and has an industry-leading maintenance interval of 1,000 hours.

PCT operates Kalmar all-electric RTGs, straddle carriers, reachstackers, forklift trucks, empty container handlers and terminal tractors. The RTGs in this latest order will be delivered in 2016 and 2017.

FL

 

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http://www.transmar.gr/agency/news.php?id=119 2015-12-31T00:00+02:00
<![CDATA[Relief for exports and importers as rail services resume]]> Trainose.jpg

The relocation of about 2,300 migrants from a makeshift camp near the Former Yugoslav Republic of Macedonia border earlier this month should bring some welcome relief for Greek exporters and major importers using crucial rail links to and from the Port of Piraeus.

The migrants, said to be mostly from Pakistan, Somalia, Morocco, Algeria and Bangladesh, were taken by bus from the camp at Idomeni to Piraeus, where they are being put up in former Olympic venues at Elliniko and Galatsi and a temporary reception facility in Elaionas.

The presence of protesting migrants at the border crossing caused huge problems for Trainose; rail services between FYROM and Greece were suspended for three weeks, leading to the rail operator losing an estimated €1.5 million. The suspension of rail services hit Greek exporters as well as multinational firms shipping goods into Piraeus and then using rail links to transport them to Central Europe.

Trainose chairman Athanasios Ziliaskopoulos resigned early in December, expressing serious concerns about contracts the firm had signed with multinational companies.

When services resumed, one of the first trains to operate called into Piraeus to collect goods from Cosco destined for Central Europe.

 

FL

 

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http://www.transmar.gr/agency/news.php?id=117 2015-12-20T00:00+02:00
<![CDATA[New RTG order at Piraeus Container Terminal]]> Kalmar-ERTG-Piraeus324-sm.jpg

Piraeus Container Terminal has placed a third large order with Kalmar – for an additional 15 all-electric rubber-tyred gantry (RTG) cranes to the value of €20 million. Kalmar previously supplied the Cosco-run terminal with 12 all-electric RTGs in 2013 and nine more in 2015.

“The zero-emission cranes, which are nine-plus-one wide and one-over-six high, will help us to achieve our goal of increasing capacity while meeting all the latest environmental demands,” said Mr Li Jianchun, deputy general manager of PCT.

The Kalmar E-One2 Zero Emission RTGs, which have a 41-ton SWL capacity,will be working in the Pier III expansion area, helping to enhance capacity in the yard, he added. “The RTGs apply new technologies that enhance productivity, reliability and flexibility, which we consider to be tremendous achievements.”

Mika Virtanen, vice president, STS and RTG Cranes, at Kalmar, said: “This order further consolidates our relationship with PCT. Together with the Kalmar SmartRail automatic gantry steering system, the Kalmar all-electric RTGs offer an optimal solution to the customer’s stringent requirements for safe operation around the yard, high capacity, zero carbon emissions and lower costs of ownership.”

The Kalmar E-One2 RTG’s highly efficient electric power system eliminates emissions, engine noise and the need for hydraulic oils and has an industry-leading maintenance interval of 1,000 hours.

PCT operates Kalmar all-electric RTGs, straddle carriers, reachstackers, forklift trucks, empty container handlers and terminal tractors. The RTGs in this latest order will be delivered in 2016 and 2017.


FL




 

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http://www.transmar.gr/agency/news.php?id=118 2015-12-19T00:00+02:00
<![CDATA[AGENCY APPOINTMENT FOR WIND MILL PROJECT]]> WINDMILLS.jpg

We were appointed from Kaleidologistics to act as general agents at the port of Eleusis, on behalf of their client Gamesa Corp., for the discharging/storage and reloading into trucks, of three(3) sets of blades, hubs, nacelles and towers.

The first shipment from China arrived with the vessel Alina and discharged 3 cages with blades.

The second shipment from Spain arrived with the vessel Lifter and discharged 3 nacelles + 3 hubs + 3 T1+ 3T2.

All components were stored within the open area of the port and reloaded in W43 and transported to Spithari.

Transmar received praise from the principals, who expressed their satisfaction with the quality of service throughout the whole operation.

BLADES.jpg

 

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http://www.transmar.gr/agency/news.php?id=116 2015-11-30T00:00+02:00
<![CDATA[Piraeus important point One Belt, One Road]]> OBOR-map1.jpg

China’s One Belt, One Road initiative will provide great business opportunities to the shipping industry in the long-term – and the Greek port of Piraeus is already playing a key role in that, conference delegates have been told.

Speaking at a session at the World Shipping Summit, China’s largest maritime conference, Cosco Group chairman Ma Zehua said the ambitious OBOR project can give momentum to a slowing shipping industry, significantly facilitating economic and trade growth across Asia, Europe and some African countries.

Shipping firms can directly benefit from the related growth in seaborne trade, he said. “The shipping industry is no longer just about water transportation – it has become more of a logistics business, which means you will have to develop your service into the ground logistics side.”

Rapid developments in intermodal transport, such as in sea-to-rail services, will help shipping companies to win more clients, and there are other opportunities especially for ports and warehouses, he added.

Mr Ma highlighted the success of the Port of Piraeus, where Cosco operates two container terminals and is bidding for the 67% stake on offer in the port authority. “Piraeus has already become an important supporting point in OBOR,” he said.

Piraeus, with its superior geographical position and advanced intermodal system, has seen rapid growth in container throughput in recent years – including a rise of more than 13% last year.

FL

 

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http://www.transmar.gr/agency/news.php?id=115 2015-11-19T00:00+02:00
<![CDATA[Privatisation slips again]]>

Greece’s port privatisation process has slipped back again, with the bid submission date for a 51% shareholding in Piraeus Port Authority now extended to December 3.

The revised deadline is due to some delays in the concession agreements after the election in September, according to Stergios Pitsiorlas, the head of TAIPED, the country’s privatisation agency.

Binding bids for the Piraeus stake were previously required by the end of October. Meanwhile, the deadline for bids for Thessaloniki port has now been postponed to the end of March.

The privatisation of the country’s two biggest ports is part of the bailout conditions set down by the European Union and International Monetary Fund. However, the process has met with strong opposition, notably from port workers, who recently walked out in protest at the Piraeus privatisation. Tug crews have also stated walk-outs in protest at the plans for both Piraeus and Thessaloniki, and the process also prompted the resignation of the PPA’s chief executive, George Anomeritis, in early October.

Meanwhile, in the wider Greek maritime industry, commentators have suggested that while squeezing more taxes from the shipping community might be the most popular way of securing funds, it could also be one of the most harmful. Shipping now contributes up to 8% of the country’s GDP, and generates more than 190,000 jobs, said Lloyd’s List recently, also highlighting the considerable voluntary support provided by ship owners for welfare and education.

FL

 

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http://www.transmar.gr/agency/news.php?id=114 2015-11-04T00:00+02:00
<![CDATA[IAPH names Piraeus the fastest growing port]]> cosco1406108833.jpg

Piraeus has been named the fastest growing port in the world from 2009 to 2013.

The accolade is based on data collected by the International Association of Ports and Harbors (IAPH): the figures show that container throughput at Greece’s largest port increased from 665,000 units in 2009 to 3.16m in 2013 – that figure being 476% of the 2009 total. Furthermore, the port’s success continued in 2014, when volumes rose by another 19% to 3.74m containers.

The four years highlighted were in parallel with the concession of container terminal operations to China’s COSCO.

The plans for further privatisation at Piraeus are continuing to progress, despite concerns that opposition within the Syriza party would hold back the process. There has also been speculation that COSCO’s attention is now divided, following its investment into Kumport Terminal –Turkey’s largest private port and a direct rival to Piraeus in the Eastern Mediterranean.

COSCO, China Merchants Group and China Investment Corp have jointly purchased a US$950m stake in Kumport, which is in the Ambarli port complex.

In Greece, meanwhile, interested parties have until October 16 to submit their offers to TAIPED for a 67% stake in Piraeus Port Authority. TAIPED says it is aiming to have the tender completed by the end of November.

FL

 

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http://www.transmar.gr/agency/news.php?id=113 2015-10-12T00:00+02:00
<![CDATA[Welcome for revived Shipping Ministry]]>

The recreation of a standalone Shipping Ministry by the Greek government has attracted interest from the industry and commentators alike.

Thodoris Dritsas is the new Minister of Shipping and Island Policy, following a shake-up of the previous structure which had rolled the maritime brief into a super-ministry covering economy, infrastructure, shipping and tourism.

In the seven months from January’s election, Mr Dritsas, a parliamentary deputy for Piraeus, served as alternate Minister of Shipping and the Aegean. He is known as an opponent of privatising the ports of Piraeus and Thessaloniki, although in the run-up to the September elections he stated that he had ‘to take on board the new realities’.

Seatrade commented that shipping and shipping-related issues are likely to play an important role in government plans to raise revenues and meet the demands of Greece’s creditors. The return of the Shipping Ministry is ‘a positive for the shipping community, which was never comfortable with shipping being part of the Finance Ministry’, it said.

Lloyd’s List said Mr Dritsas’s appointment was ‘an upgrade for the shipping portfolio that drew welcoming comments from s hipping circles’.

Hellenic Chamber of Shipping president George Gratsos described the move as a positive sign and a ‘good thing’.

If Greece made itself more attractive to shipowners, it could actually improve on the 8% of gross domestic product that shipping contributes now and create thousands more jobs as well, he said.

FL




 

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http://www.transmar.gr/agency/news.php?id=112 2015-10-05T00:00+02:00