Fincantieri has strengthened its relationship with its suppliers by signing a reverse factoring agreement, initially for three years, with Bank Paribas member BNL Group and the latter’s factoring specialist Ifitalia, to allow suppliers to the Italian shipbuilding giant to unfreeze… Read at Fincantieri’s reverse factoring deal strengthens supplier relationships ...

ClassNK Chairman and President Noboru Ueda has annopunced that the Japanese classification society will commit ¥2.2 billion ($25 million) in research and funding as part of its participation in a national joint R&D program to reduce maritime greenhouse gas (GHG)… Read at ClassNK commits ¥2.2 Billion to joint GHG reduction programme ...

The Liberian Registry has breached the 100m tons gross mark with the delivery of the 50,792 dwt bulk carrier Sanko Mercury at Oshima Shipbuilding Company in Nagasaki. “In the past five years alone, the Liberian Registry has grown by 40m… Read at Liberian Registry breaks 100m gt mark ...

Read at SMITV talks to Guy Morel and Kuba Szymanski about what being an InterManager Secretary General means ...

Read at SMITV talks to Dirk Fry about Schoeller’s joint venture with Tsakos ...

Read at SMITV talks to Ole Stene about the crewing crisis and how it is affecting the Philippines ...

Read at SMITV talks to Andreas Droussiotis about Cyprus, the recession and stepping down as BSM CEO ...

Read at SMITV travels to Dubai to talk to ITM President Lars Modin ...

Read at SMITV talks to Aniello Esposito from Gulf Stolt Ship Management ...

The International Transport Intermediaries Club (ITIC) says it has seen an increase in the number of professional indemnity claims made against the professional service providers who are its members. And it warns that the increase is likely to continue as… Read at ITIC warns professional service providers of rising claims exposure ...

Two passengers, a German and an Italian, have been killed and six others injured after the 1992-built cruise vessel Louis Majesty was hit by freak waves reported to be up to 8m high while en route from Barcelona to Genoa with… Read at Two dead as freak waves hit Louis Majesty ...

Gianluigi Aponte’s MSC Cruises has signed a letter of intent with STX Europe for a 140,000 tons gross cruiseship, MSC Favolosa. The price has not been disclosed. The Fantasia class vessel will be delivered from St Nazaire in June 2012… Read at MSC signals Favolosa intent ...

German classification society Germanischer Lloyd is restructuring its organisation in Sweden due to the increasing number of maritime clients in western and southern parts of the country. Part of the move will be to site, from the beginning of this… Read at GL restructures its Swedish presence ...

GC Rieber Shipping posted a net profit of NOK 107.3 million in the fourth quarter and NOK 78.1 million for the full year 2009, after a tax income of NOK 128.2 million. The tax income is a consequence of the judgment by the Supreme Court concerning the Norwegian tonnage tax system. – A correct and positive decision, which contributes to strengthen our investment capacity, CEO Sven Rong comments. The fourth quarter report further reveals that the company’s core activities perform well, while investments in new business within subsea and permanent monitoring remains in a seed-phase w...

John Fredriksen’s Frontline is switching a number of vessels from third-party ship managers V.Ships and Thome to its newly established venture Sea Team Management in Singapore. The move comes after the group unveiled lower-than-expected fourth quarter profits. Revenue of $262m… Read at Frontline ‘s Singapore switch ...

The Isle of Man Ship Registry is to introduce an annual registration fee in April of £700 per vessel irrespective of ship size or type. The levy, the first in its 25-year history, will include offering “substantial discounts” to multi-vessel… Read at Isle of Man to introduce annual fee in April ...

GC Rieber Shipping has through a ‘club deal’ with Nordea, Sparebanken Vest and SpareBank 1 SR-Bank secured long term financing for two subsea IMR new buildings due for delivery in 2010/2011. The USD 107 million loan facility has a 5-year term with a 15-year profile. Including this loan facility, the two new buildings will be approximately 75 % debt financed. Nordea is the agent for the loan facility. The new buildings are of Skipsteknisk ST-254L CD design and are being built at the Freire Shipyard (Spain). ? About GC Rieber Shipping ? GC Rieber Shipping’s business within o...

Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) today announced that the company has completed a table top drill based on the scenario of its training ship Spirit of MOL being involved in a collision, fire, and oil spill incident just off Manila on February 18. Following is an outline of the drill, which involved about 60 participants from the Tokyo Head Office and MOL Group companies. Beginning on the afternoon of Thursday, February 18, the drill was intended to strengthen the foundation of social responsibility laid out in the MOL Group Corporate Principles — protecting t...

Athens-headquartered Tsakos Shipping & Trading is joining forces with Cyprus-based Columbia Shipmanagement, part of Schoeller Holdings, in a joint venture that will take over management of the Greek group’s fleet of around 85 vessels. The new entity, to be named… Read at Tsakos and Columbia link in joint management venture ...

Genoa-based classification society RINA is to class the world’s first offshore Floating Storage and Regasification Unit (FSRU), taking a lead in the developing market for floating LNG terminals. Addressing the Mare Forum Houston conference, Massimo Volta, RINA’s General Manager America,… Read at RINA classes world’s first offshore LNG FSRU ...