Tag: Posidonia

TradeWinds Shipowners Forum 2012 at Posidonia - Mohammed Souri

TradeWinds Shipowners Forum 2012 at Posidonia - Martin Stopford

TradeWinds Shipowners Forum 2012 at Posidonia - George Economou

TradeWinds Shipowners Forum 2012 at Posidonia - Harald Serck-Hanssen

TradeWinds Shipowners Forum ,Posidonia

TradeWinds Shipowners Forum 2012 at Posidonia - Basil Mavroleon

TradeWinds Shipowners Forum 2012 at Posidonia - Angeliki Frangou

At the press conference in the venue of the Posidonia International Exhibition, on Friday 8th June, the UGS President, Mr. T. Veniamis, stated the following:Greek shipping endures and makes progress. Despite the deep financial crisis of the entire planet and especially Greece, Greek shipping remains at the top of the international league, closely connected with its national basis, with a fleet of 3,325 vessels, a total tonnage of 227 million dwt and average age of 10,5 years."You may know," Mr. Veniamis stated, "that my compatriot shipowners on my island, Chios, used to say that the sea gets sick but never dies. We fully share this belief and we try to follow their task. Of course, the overall environment has changed. The circumstances at sea are completely different today, compared to past years. Sometimes they may be better but in many cases, they are adverse and complicated, demanding faith, strength and hard effort. Globalization and its side-effects, the galloping development of marine technology, the exaggerated and not always disinterested measures at central and regional level, disturbing the smooth operation of vessels, the financial and lending illiquidity, the effects of the economic crisis on the freight market but also the scourge of ...

A few days after Aggelikousis Group's US$1.25 billion credit facility with six banks for the financing of nine LNG carriers was made public, delegates of a shipbuilding conference held during the fourth day of this year's Posidonia Exhibition heard that increasing defaults on existing financing agreements between shipowners and lenders will ultimately lead to an era of no new lending.Speaking at the 'Building for the Future 2012' shipbuilding conference, on the penultimate day of Posidonia 2012, the 23rd edition of the world's biggest marine community event, Jean Richards, CEO of Second Wind Shipping Limited, said that while finance is still available through traditional banks, Chinese banks, bond and equity markets, financiers tend to specialize in specific asset types while setting demanding preconditions."Traditional banks lend only to their major clients in return for help with other assets, Chinese banks on newbuilding projects and local yards but with fairly high margins, the bond market focuses on large and known players with a high coupon cost while the equity market demand shares in new equity to protect an exposed position," said Richards.According to Richards, this year a number of restructurings which were agreed during the last three years will expire or fail. "Currently ...

ODC one of the biggest and most modern ship repair yards in the Middle East Oman Drydock Company (ODC), one of the biggest and most modern ship repair yards in the Middle East participated this year in the world's most prestigious maritime event "Posidonia" 2012. Eager to position itself as a competitive global drydocking yard, ODC, since its launch in April 2011, has been moving prudently towards a gradual ramp-up of its operations.Starting with the handling of relatively small vessels, ODC has, since then, taken care of more than 80 vessels and is looking forward to receiving over a 100 ships by the end of 2012.MJ Park, Chief Executive Officer of ODC, as well as the senior management of ODC, successfully represented Oman Drydock Company during the "Posidonia" 2012.MJ Park declared that "The Greek maritime community represents a huge market for ODC. Currently, with over 30% of the LNG new-builds being Greek owned and an estimated annual spent upwards of US$ 4 billion on repairs, drydocking, conversions, maintenance and upgrades, we are convinced that our participation in "Posidonia" 2012 helped us to showcase our state-of-the art facilities. The Greek maritime community can now benefit from the ideal location, combination of ...