Shipbrokers, charterers as well as shipowners watch the rise and fall of the chartering markets round. A promising cargo for today may be:
For account of Helm ; 25,000 metric tons 10% more or less owners option of urea in bulk with stowage factor 51'; from Klaipeda to Lagos with laycan on 20/25 July; loading / discharging terms : 5000c / 1750xeiu ; commission 3.75 past us ; most interesting : free from disbursement accounts at Lagos. Best offers invited! Maris
Wednesday 30 June 2010
Is HSH Nordbank turning back on Shipowners?
German Shipowners in the Hamburg region question whether HSH Nordbank is turning back to the traditional family-owned shipping companies. Small owners engaged in containership feeder businesses are known to be especially vulnerable thorought the shipping crisis and may be even exposed to forced auctions.
As Tradewind reports, some Shipowners, having been in default since last year, may be put into a HSH's "Abbaubank". It is a wind up bank with more than EUR 8bn in shipping accounts that may not be renewed in case shipowners fail to find enough financing. The wind-up bank is considered by the shipowners as the last stop before the auction block.
The wind-up bank is reported to be in the process of organising its structural unit and is unlikely to deal with shipowners before each borrower is assigned to an account manager, which may already happen within weeks.
Christian Buchholz, the HSH spokesman, says that decisions of the European Union force them to cut shipping portfolio. The balance sheet was cut from EUR 174.5bn at the end of last year to EUR 100bn. He also says that the German shipowners have not been informed yet whether they will be cut off or not.
The bank is doing everything to avoid forced auctions, also because of the invitable effects on ship valuations. The bank had fire sales of six ships last year and has more than 3,000 ships in its portfolio. Yet, Buchholz says, any customers' ideas will be given an ear. He dismisses romours about possible negative effects of being placed in the Abbaubank in case shipowners need to obtain credit later.
There is no difference in the way the credit is handled whether in the restructuring unit or in the core bank. The only difference is that there will be an end to the relationship for customers in the restructuring unit, not for those in the core bank, according to Buchholz.
As Tradewind reports, some Shipowners, having been in default since last year, may be put into a HSH's "Abbaubank". It is a wind up bank with more than EUR 8bn in shipping accounts that may not be renewed in case shipowners fail to find enough financing. The wind-up bank is considered by the shipowners as the last stop before the auction block.
The wind-up bank is reported to be in the process of organising its structural unit and is unlikely to deal with shipowners before each borrower is assigned to an account manager, which may already happen within weeks.
Christian Buchholz, the HSH spokesman, says that decisions of the European Union force them to cut shipping portfolio. The balance sheet was cut from EUR 174.5bn at the end of last year to EUR 100bn. He also says that the German shipowners have not been informed yet whether they will be cut off or not.
The bank is doing everything to avoid forced auctions, also because of the invitable effects on ship valuations. The bank had fire sales of six ships last year and has more than 3,000 ships in its portfolio. Yet, Buchholz says, any customers' ideas will be given an ear. He dismisses romours about possible negative effects of being placed in the Abbaubank in case shipowners need to obtain credit later.
There is no difference in the way the credit is handled whether in the restructuring unit or in the core bank. The only difference is that there will be an end to the relationship for customers in the restructuring unit, not for those in the core bank, according to Buchholz.
Monday 21 June 2010
1% Low Sulfur Fuel Oil is now available at Gibraltar
Low Sulfur Fuel Oil (LSFO) with a maximum sulphur content of 1.0% is, now, available at GIBRALTAR in order to conform to the new LSFO regulations starting from the 1-st of July, 2010.
Friday 4 June 2010
New York state Ballast water and Graywater discharge standards
This post addresses the newest discharge standards imposed by New York state. To be brief, firstly, all vessels having VGP (Vessel General Permit) and calling NY ports and/or transiting NY waters have to have ballast water treatment systems installed by the 1st of January 2012. These systems have to meet the most stringent NY's ballast water discharge standards, approximately 100 times more stringent the IMO regulation D-2 standard. Secondly, New York's condition to the VGP states that a vessel may not discharge treated or untreated graywater into New York water, or 3 n.m. of the shoreline.
The state-of-the-art in research and technology conclude that there is no certified technology currently available to meet the NY's highest discharge standards by 2012, and it is unlikely to be available to meet the New York's deadline. Therefore, for the time being, NY requires that requests for waiver extension shall be submittd no later than the 30th of June 2010, the extension requests shall be submitted toNew York Department of Environmental conservation, and shall be able to demonstrate that (*) there is a lack in supply of appropriate technology to meet the standards, vessel-specific engineering constraint or factors, beyond the owner/operator's control. (*) the absence of technology is the only reason the deadline can not be met and the Owner/Operator has exhausted all other options to comply, (*) and also, when the vessel will be made compliant with the discharge standard.
It has to be mentioned that it is prohibited to discharge graywater either treated or untreated regardless of whether water treatment technology has been installed or not. Graywater can not be discharged even if treated. Therefore the only feasible option seems to retain the graywater aboard while in NY state waters, either in an ad-hoc graywater/blackwater tank or by diverting it to a ballast water tank for later discharge at sea. Any modifications to piping system and tanks must be approved by Class and should be completed by the vessel's next scheduled drydock.
The state-of-the-art in research and technology conclude that there is no certified technology currently available to meet the NY's highest discharge standards by 2012, and it is unlikely to be available to meet the New York's deadline. Therefore, for the time being, NY requires that requests for waiver extension shall be submittd no later than the 30th of June 2010, the extension requests shall be submitted toNew York Department of Environmental conservation, and shall be able to demonstrate that (*) there is a lack in supply of appropriate technology to meet the standards, vessel-specific engineering constraint or factors, beyond the owner/operator's control. (*) the absence of technology is the only reason the deadline can not be met and the Owner/Operator has exhausted all other options to comply, (*) and also, when the vessel will be made compliant with the discharge standard.
It has to be mentioned that it is prohibited to discharge graywater either treated or untreated regardless of whether water treatment technology has been installed or not. Graywater can not be discharged even if treated. Therefore the only feasible option seems to retain the graywater aboard while in NY state waters, either in an ad-hoc graywater/blackwater tank or by diverting it to a ballast water tank for later discharge at sea. Any modifications to piping system and tanks must be approved by Class and should be completed by the vessel's next scheduled drydock.
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