Cheating death. EVERY catastrophe has its miraculous survivors, who escape the carnage around them only through a chance meeting or a freak accident or a small decision unthinkingly taken, writes John McLaughlin. Tuesday’s terrorist attack on the - Sep 17, 2001
With China Export-Import Bank providing so much of the finance needed to bridge the gap left by mostly European banks, it is almost inevitable that the organisation’s president and chairman should be top of the list of leading ship financiers. That ranking is reinforced by Cexim’s declared aim of becoming a truly global lender with an expanding presence in new overseas markets. Shipping companies are likely to be dependent on such largesse for some time to come.
2. Nigel Anton –Standard Chartered
Having been awarded the accolade of ship financier of the year at the 2011 Lloyd’s List Ship Finance awards, Nigel Anton was bound to rank highly in our listing. The UK-based but heavily Asia-focused bank has ramped up its involvement in shipping finance at a time when many others are retreating. Standard Chartered is adding shipping to its portfolio, building on relationships with many existing clients and extending its reach into new areas.
3. Harald Serck-Hansson – DnB NOR
The head of shipping for the Norwegian bank must be recognised by virtue of being one of the few European banks still actively lending to shipping as well as the more prosperous offshore energy sector, even though its aggregate exposure to shipping has declined slightly as repayments outstrip new loans. The high ranking also recognises the fact that DnB NOR is consistently top of the rankings among syndicated lenders to shipping, which has become a rare structure of late.
4. Hans Christian Kjelsrud – Nordea
It is difficult to separate Nordea’s head of shipping from the ranking accorded to its Norwegian counterpart, as both display similar characteristics in terms of their consistent lending to shipping and syndicated loan activity. Mr Kjelsrud has recently taken over as head of shipping at Nordea from his predecessor Carl Steen, although he has been actively involved there for a considerable time.
5. Dagfinn Lunde – DVB Bank
Although DVB Bank is not the biggest bank involved in ship finance, as a dedicated transport bank it has a deep and long-term commitment to shipping that its head of shipping displays wherever he speaks. Its specialisation has helped shield the bank from some of the wider exposures affecting other banks and it is therefore among those still actively offering new loans to shipping, even though it adopts a characteristically cautious approach.
6. Ralph Bedranowsky –Deutsche Bank
Ralph Bedranowsky’s inclusion reflects the positive growth in shipping activity that Deutsche Bank has exhibited this year, even though it is not the biggest German bank in terms of total shipping exposure. Mr Bedranowski has strengthened its ship finance team and the bank is exploring new structures for funding shipping investments at a time when traditional German KG funds have retreated into relative insignificance as a source of finance.
7. Torsten Temp – HSH Nordbank
The board member responsible for shipping at what is still the largest ship finance bank deserves to retain a top 10 ranking despite the much publicised problems and downsizing of its shipping and other loan portfolios. It has also lost two heads of shipping as it has gone through the trauma. Despite all that it is still undertaking some new lending to shipping and seems to maintain a degree of longer-term commitment even if its position as leading lender to shipping is coming under threat.
8. Michael Parker – Citigroup
Citi tends to keep a relatively low profile but is still an active player in shipping finance, mainly focusing on blue chip clients. It features among the leading players in what remains of syndicated lending to shipping. As head of its transport and logistics division, Michael Parker is highly influential among his peers and his views on shipping and related finance are always listened to intently by industry audiences.
9. Lambros Varnavides – Royal Bank of Scotland
The UK bank is still majority owned by the government having been rescued in the financial crisis of 2008, with no immediate prospect of that status changing. But RBS is still by some distance the biggest lender to Greek shipping and as such its head of global shipping deserves recognition. It is retaining a cautious approach to new lending but is still doing so for established and sound clients. RBS therefore still has an influential position in the global ship finance sphere.
10. Bruce Karsh – Oaktree Capital Management
In the current financial climate with many banks struggling to lend and shipping companies in need of cash, the list would not be complete without a representative from the private equity sector, which is providing increasing amounts of investment and is likely to contribute more. Oaktree’s president is included by virtue of its high profit continuing involvement in attempting to rescue General Maritime Corp in the face of a crashing tanker market.
Our top man last year moves over to head up the regulatory ranking this year. The Chinese transport minister’s influence remains undimmed in terms of the control that he exerts over the industry and his profile has been more public since his appearance on our list 12 months ago. In a recent address to the industry, his announcement that China intended to “actively guide the orderly development” of the world’s dry bulk and container fleets, was enough to make the entire industry sit up and pay attention. China’s regulatory impact on the rest of the industry should not be underestimated in 2012.
2. Peter Hinchliffe – International Chamber of Shipping
Peter Hinchliffe has been quietly clocking up the air-miles this year and building a great deal of support and respect in the process. The International Chamber’s decision to express a preference for a fuel-linked CO2 compensation system, rather than an emissions trading scheme, may not seem seismic and it was certainly not without internal controversy, but it proves that he has the ability to build consensus on the most fractious of issues. A united industry approach on emissions is an impressive achievement by itself but add in piracy and some hallmark quiet diplomacy on every important topic out there and we have a worthy entry to our list.
3. Graham Westgarth – Intertanko
Tough times for tankers requires tough talking from their industry representatives and under Graham Westgarth’s chairmanship Intertanko has performed admirably in the lobbying stakes. Now in his second term, Mr Westgarth continues to pursue members’ interests vociferously, both independently and together with fellow Round Table members. Piracy action has clearly headlined but leadership on emissions and industry standards continues apace.
4. Christiana Figueres – United Nations Framework Convention on Climate Change
As executive secretary of the UNFCCC, Christiana Figueres holds the answer to a multi-billion dollar, epoch changing set of decisions that will ultimately decide the future course of shipping technology and financing. She alone will not make those decisions, but as the UN’s lead climate official, her desire to see shipping not only slash greenhouse gas emissions but pay up through a carbon levy is going to be increasingly influential over the coming years as the details of an international climate deal are worked out, one way or the other.
5. Siim Kallas – EU transport commissioner
Brussels may not have won too many friends in the industry over recent years but there are encouraging signs of positive engagement and a far more mature attitude towards shipping. Siim Kallas may not have made a huge impact this year but his influence over the course of European shipping policy should not be underestimated. Chief among his challenges will be to wrestle internal control of shipping before he can hope to tackle bigger issues in the industry effectively.
6. Christopher Koch – World Shipping Council
Christopher Koch is the public face of container shipping. In an industry where most company bosses prefer to keep out of sight, Mr Koch is the one who represents their interests and lobbies on their behalf at the highest level. As president and chief executive of the World Shipping Council, he is highly respected and well-liked both by members of the Washington organisation he runs, and by the regulators and legislators with whom is in daily contact. He has an ability to absorb a complex brief quickly and then set out the facts to industry insiders and outsiders in a clear and coherent fashion.
7. Pavel Shikhov – International Association of Classification Societies
At just 40, Pavel Shikhov is very much ‘next generation’ shipping. While noticeably lower profile than his predecessors, he became the first Russian to chair the International Association of Classification Societies for 10 years when he took up the 12-month position in July. He may have the gift of youthful enthusiasm on his side, but he has some important matters on his agenda. These include enhancing quality assurance, progressing IACS harmonised Common Structural Rules, agreeing a policy stance and improving relations with the European Commission and dealing with the technical issues and regulation emerging from shipping’s contribution towards reducing CO2 emissions.
8. Willem de Ruiter – European Maritime Safety Agency
While he may be about to retire, Willem de Ruiter makes it onto this year’s list by virtue of the continuing influence he will have on the industry. His inaugural tenure as the driving force behind the European Maritime Safety Agency’s rapid establishment and subsequent growth has surpassed all expectations, winning him plaudits across the board. Emsa’s head of the operations department, Leendert Bal, will take on the role of acting executive director until a permanent replacement is found. He will have his work cut out for him.
9. Rob Lomas – Intercargo
Quietly effective is perhaps the best description of Intercargo under Rob Lomas. While it may not draw the headlines that other industry groups demand, it does go about its work diligently in the background and its reports are always required reading. Its work highlighting the safety implications of cargo-related issues such as liquefaction, nickel ore problems and non-compliance with regulations is certainly influential enough to warrant an entry onto this list.
10. Dave Heindel – International Transport Workers’ Federation
As chairman of the ITF Seafarers section, David Heindel has his work cut out in the current climate. Economic turmoil unfortunately tends to hit seafarers hardest, even without the continuing threat from piracy. So together with the ITF’s increasingly powerful maritime co-ordinator Steve Cotton, Mr Heindel will be looking to reassert the unions’ ability to make a real difference to seafarer’s lives.
Claims running into many, many billions of dollars will result from the carnage wrought on the US onSeptember 11, 2001, affecting all direct and reinsurance sectors of the market — property and casualty, marine and aviation, liability and contingency. - Sep 17, 2001
Death of innocents —history lessons
We still have little idea what consequences will flow from the defining moment of September 11, 2001, but we can bet our bottom dollar on them being appalling for some, somewhere. - Oct 9, 2001
Foresight and vision pays off
Latest proposals on Capitol Hill call for a two-year moratorium on US firms who incorporated out of the country on September 11 2001 or afterwards to avoid Federal tax obligations. - Jun 26, 2002
Tankers warned of al-Qa'eda threat
Underwriters immediately reviewed the softer line they have taken since fears of marine attacks in the immediate wake of September 11, 2001, proved groundless. - Sep 11, 2002
Wider human cost of attacks
Unfortunately September 11, 2001became one of these rare, and in this case, terrible events. - Sep 11, 2002
Covering the cost of terror
Since September 11, 2001, the major non-Lloyd’s insurers have shunned writing risks on a100% basis, which has put Lloyd's, as a co-insurance market, in a much stronger position, argues Mr Pritchard. - Sep 12, 2002
September 11 and marine war risks
Who would have taken seriously any director of an insurance organisation asking its underwriters around a boardroom table what their loss would have been, should the events of 9/11 occur? - Sep 13, 2002
Caught on the horns
But the roots of insurer concerns go further back than September 11, 2001. - Sep 18, 2002
Anti-terror partnership ‘here to stay’
Mr Perez said US Customs realised very early on after September 11, 2001 that it “could not go it alone” in the war on terror, and that the most effective way of doing so would be to draft in private companies as partners. - Oct 31, 2002
Alarm at US terror Bill
Concern is understood to be felt at high levels at Lloyd’s and in the companies and P&I sector over provisions that could force underwriters who had all-risks policies before September 11, 2001, to scrap their subsequent exclusions and reinstate the cover in exchange for 90% federal backstop reinsurance. - Nov 15, 2002
Security clamp is heading for uncharted seas
Although piracy has been a fact of life and an escalating problem for many years, along with other security threats in port, it has only been since the September 11 2001 terrorist outrages in the US that authorities have made any concerted efforts to put in place protective measures for ships. - Nov 22, 2002
Strike Club offers full war risks to owners
Bill Milligan, chief executive of the club managers, said that with market turbulence caused by the attacks ofSeptember 11, 2001, and other events, the club had been requested by many of its members to cover war risks. - Dec 2, 2002
Underwriters rush to plug gap
Insurers at Lloyd’s and elsewhere will be on tenterhooks for the next 90 days, the period of notice they have to give clients, after voiding terrorism exclusions in almost all the general policies written since September 11 2001 - Dec 2, 2002
Record downgrades hit insurance sector
Mr Hancock said there was a long way to go to repair the damage to balance sheets in the reinsurance market caused by the loss resulting from the events of September 11, 2001, and by other significant losses in 2001. - Dec 17, 2002
Prestige wrecks image
It has been a year when, in the wake of those events of September 11, 2001, security has dominated the agenda and the wrecking of the Taliban in Afghanistan was merely a precursor to the diaspora of terror all round the world. - Dec 31, 2002
Threat of terror dominates agenda
Foe all the impetus provided by the events of September 11, 2001, every one of these Bills became bogged down in Congress for months over issues often quite extraneous to the matter in hand. - Dec 31, 2002
Terror rules upheaval
As Alan Hicks, global head of security for P&O Nedlloyd said recently: “[It’s] the biggest change in shipping in the last 20 years.” And if anyone had been cavalier enough to think the threat to shipping had been exaggerated since September 11, 2001, the terrorist bomb attack on the VLCC Limburg off Yemen earlier this autumn erased such doubts. - Dec 31, 2002
These reinsurances have to be bought from providers including Munich Re, Swiss Re and other mighty entities that have their own claims pressure to worry about, including the massive overhang potential from September 11, 2001. - Jan 16, 2003
Leading Lloyd’s firms head for bull run as rates keep rising
Andrew Gibson, chief executive of Highway Insurance Holdings, said his group’s exit from Lloyd’s would save it 2% to 3% of premium income a year, and he complained it had to pay a 1% levy to Lloyd’s central fund after September 11 ,2001, despite never having written business outside northern Europe. - Jan 23, 2003
Veritas DGC sales up BUOYED by strong library sales, Veritas DGC announced earnings of $14.2m for its fiscal second quarter ended January 31, up from $4.5m in the same period last year, writes John McLaughlin in New York - Mar 1, 2004
Latin America shows it can dispel gloom: Latin America may not be the flavour of the month among investors but, as New York correspondent JOHN MCLAUGHLINdiscovered, the long-term outlook is brighter - Feb 12, 1999
US transport bugged by fears over millennium: New York Correspondent John McLaughlin listened in as leading figures in the US transportation industry looked ahead with some foreboding to the new mille - Mar 6, 1998
D’AMICO International Shipping, the Milan-listed tanker company, confirmed that Glenda International, its 50:50 joint tanker venture with Glencore, had received $87.4m from South Korea’s Kookmin Bank, writes John McLaughlin - Mar 8, 2010
CORSICA Sardinia Ferries has hit out at the strikes now blocking Corsican ports, describing the developing situation as “extremely serious” and as “impeding freedom of movement as well as the access of Italian passengerships to French ports”, writes John McLaughlin - Feb 25, 2010
GENOA-based shipbuilder T. Mariotti has launched Mariotti Yachts, a new brand targeted at the luxury megayacht market and backed by a total investment of €9m ($12m), writes John McLaughlin - Feb 22, 2010
RIVAL ferry companies Grandi Navi Veloci and Snav are teaming up to service the Civitavecchia-Palermo market, in a bid to bring order on a relatively new route characterised by solid winter demand for cargo and passengers and a summer tourism surge, writes John McLaughlin - Feb 17, 2010
ITALIAN state shipbuilder Fincantieri launched the first of two fleet tankers it is building for the Indian Navy at its Muggiano yard on Friday, writes John McLaughlinThe 175 m supply and logistical support vessel has capacity for 250 passengers and is fitted with two 10,000 kW diesel engines, which will give it a maximum speed of 20 knots. - Feb 16, 2010
MONACO-based Silversea Cruises has appointed Enzo Visone, a former chief executive of Campari, to the newly created post of executive chairman of Silversea Cruise Holding, writes John McLaughlin - Feb 12, 2010
CORSICA Sardinia Ferries registered solid rises in passenger and vehicle throughput across its main markets last year, though revenues still slipped as fierce competition and the impact of the economic crisis took their toll, writes John McLaughlin - Feb 10, 2010
GENOA-based ferry company Grandi Navi Veloci has responded to criticism on service levels from port officials and local politicians in northern Sardinia, reaffirming its commitment to the Genoa-Porto Torres route, writes John McLaughlin - Feb 10, 2010
Sardinia slams GNV for cutting ferry services . IN A further example of economic pressures pushing shipping companies and local port authorities apart, Sardinian officials have angrily accused Genoa-based ferry company Grandi Navi Veloci of scaling - Feb 9, 2010
GLENDA International Shipping has received a significant boost after London arbitrators found that it was within its rights in terminating three newbuilding contracts with South Korea’s SLS Shipbuilding, writes John McLaughlin - Feb 4, 2010
COSTA Crociere took delivery of its 15th cruiseship, the €450m ($627m) Costa Deliziosa , at the Venice cruise terminal on Saturday and immediately announced plans to use the vessel as a spearhead for its move into new and expanding markets, writes John McLaughlin. - Feb 2, 2010
THE port of Genoa registered a 13.2% drop in container throughput last year, from the 1.8m teu posted in 2008 to 1.5m teu, as the economic crisis took its toll on trade through the Ligurian port range, writes John McLaughlin - Jan 27, 2010
THE Naples-based Grimaldi Group is to expand its extensive service network in the western Mediterranean, adding a fourth weekly call on Catania-Genoa and extending its Civitavecchia-Catania service via a through-call at the Maltese capital Valletta, pictured, writes John McLaughlin. - Jan 26, 2010
GENOA’S maritime station, which handles the bulk of the cruise and ferry traffic at Italy’s largest port, bucked the national trend last year to post strong throughput for passengers in both segments of the business, writes John McLaughlin - Jan 20, 2010
ITALIAN towing company Rimorchiatori Napoletani has taken delivery of its latest harbour tug, the 5,500 bhp Cheradi , the first of a series of three ordered from La Spezia shipbuilder Cantiere San Marco at a total cost of €25m ($36m), writes John McLaughlin. - Jan 19, 2010
TRUCK drivers working at the port of Genoa are threatening to blockade major terminals next week in protest at what they describe as chronic inefficiency at Italy’s largest port, writes John McLaughlin. - Jan 15, 2010
FINCANTIERI’S Monfalcone yard launched its first vessel for Cunard yesterday with the luxury cruiseship Queen Elizabeth, pictured, taking to the water at the facility just outside Trieste, writes John McLaughlin - Jan 6, 2010
IN A significant boost for Fincantieri, and quite a coup at a time when such purchases are thin on the ground, the Italian state-owned shipbuilder has snapped up a firm order for a superÂyacht at its Muggiano yard near La Spezia, writes John McLaughlin - Dec 21, 2009
FINCANTIERI executives met metalworkers’ union leaders in Rome last night in an effort to resolve a dispute over efficiency bonuses that has halted work at three of the company’s eight domestic yards, writes John McLaughlin. - Dec 17, 2009
THE Genoa-based Messina Group yesterday signed a $300m contract with South Korean shipbuilder Daewoo to build four ro-ro/containerships for delivery between October 2011 and February 2013, writes John McLaughlin - Dec 17, 2009
ITALY’s ministry of economic development has postponed until December 18 a key meeting designed to address the crisis affecting the country’s shipbuilding industry, writes John McLaughlin - Dec 14, 2009
ITALY’s main metalworkers’ unions were yesterday gearing up for an eight-hour strike ahead of a meeting between industry representatives and economic development ministry officials in Rome today, writes John McLaughlin. - Dec 10, 2009
V.SHIPS and Intermanager president Roberto Giorgi has called for international action to tackle the “increasingly violent” piracy off the West African coastline, following the death of another seafarer at the hands of pirates last week, this time off Benin, writes John McLaughlin - Dec 8, 2009
GENOA-based Grandi Navi Veloci has promised to limit discounting on the Genoa-Termini Imerese route as part of a package of undertakings aimed at defusing a rival’s claim that it abused a dominant position in the market, writes John McLaughlin - Dec 8, 2009
MSC Cruises has signed a memorandum of understanding with the port of Genoa and the local coastguard, committing to move to low sulphur fuel for its calls in the Ligurian capital, writes John McLaughlin - Dec 3, 2009
FINCANTIERI’S Sestri Ponente yard is anxiously awaiting confirmation from Rome that there will be financing for a much-needed expansion of the facility towards the sea, writes John McLaughlin. - Dec 1, 2009
ITALY’S shipping industry has appealed to premier Silvio Berlusconi for clarity after what some leading industry figures are describing as a police power grab in the ports, writes John McLaughlin. - Nov 30, 2009
Cantieri del Mediterraneo to appeal competition ruling . CANTIERI del Mediterraneo, the shiprepair company that runs Naples’ largest dry dock, will appeal to the government after Italy’s competition authority ruled last week that it had abused - Nov 24, 2009
MOBY Lines is to launch a new international route from April next year, adding Toulon to its service between Livorno and Bastia and buying in a secondhand vessel from Brittany Ferries to help manage the expansion, writes John McLaughlinThe company said its new Toulon-Bastia-Livorno service would run four times a week year-round, starting on April 1. - Nov 24, 2009
GLENDA International Shipping, the 50-50 tanker joint venture between d’Amico International Shipping and Glencore, has cancelled a fourth medium range newbuilding at Korea’s SLS Shipbuilding, writes John McLaughlin - Nov 23, 2009
IN A striking sign of these gloomy times, Genoa-based classification society Rina has unveiled a new facility to help stricken owners lay up their ships until sunnier days return, writes John McLaughlin - Nov 17, 2009
ADRIATIC Lines has announced the launch of a new cargo service between the ports of Ravenna and Corinth, with a call at Igoumenitsa to be added from January, 2010, writes John McLaughlin. - Nov 16, 2009
DRAWING the likes of Russia and China into a co-ordinated anti-piracy effort could be crucial to protecting merchant shipping off the coast of East Africa, according to Cesare d’Amico, the Italian shipping industry’s point man on the issue, writes John McLaughlin. - Nov 13, 2009
SBM Offshore has confirmed that it will go ahead with an equity offering of up to 13.9m new shares in a bid to increase its financial flexibility and fund future growth of its leased fleet, writes John McLaughlin - Nov 12, 2009
ITALIAN shipowner representatives who met with senior navy and coastguard officials in Rome on Monday evening said their request for increased resources to fight piracy had met with a positive response, writes John McLaughlin - Nov 11, 2009
ITALIAN shipowner representatives who met with senior navy and coastguard officials in Rome on Monday evening said their request for increased resources to fight piracy had met with a positive response, writes John McLaughlin - Nov 11, 2009
ITALIAN shipowner representatives yesterday met top navy and coastguard officials in Rome in an urgent bid to secure greater resources for the anti-piracy fight south of the Gulf of Aden, writes John McLaughlin - Nov 10, 2009
HARD-pressed Italian shipbuilder Fincantieri has received a long-awaited boost with the news from Italy’s Bank of Deposits and Loans that it will provide up to €1.5bn ($2.2bn) in export credit financing to stimulate orders at the state-owned shipbuilder, writes John McLaughlin - Nov 5, 2009
EFFORTS to create a new port hub in the northern Adriatic have picked up speed with Italian and Croatian transport ministry officials signing a joint co-operation agreement in Trieste, writes John McLaughlin. - Nov 3, 2009
THE day after announcing losses of $11.4m for the third quarter and $4.2m for the first nine months, Marco Fiori, chief executive of product tanker specialist d’Amico International Shipping, is arguing the importance of “context”, writes John McLaughlin - Nov 2, 2009
US-BASED cruise giant Carnival is in advanced talks with German Meyer Werft for an order of two new cruiseships for its Princess brand, Italian and German shipping sources have said, write John McLaughlin, Patrick Hagen and Rajesh Joshi - Oct 23, 2009
SHIPPING company Ignazio Messina intends to install teams of armed guards on board its vessels after a double attack in the waters of east Africa, according to reports in Italy, writes John McLaughlin - Oct 23, 2009
CORSICA-Sardinia Ferries handled 3.2m passengers in the January-September period, up 6.5% on the same period last year as aggressive pricing lured more customers onto its ships, writes John McLaughlin. - Oct 20, 2009
AS TRANSPORT ministry officials in Rome put the finishing touches to plans for the privatisation of state-owned ferry company Tirrenia, Italy’s Corte dei Conti released its latest audit of the company’s books, showing that subsidies jumped to €101.6m ($151.5m) last year from €46.3m in 2007, writes John McLaughlin - Oct 19, 2009
PORT officials from Trieste and Alexandria signed a memorandum of understanding earlier this week aimed at promoting maritime trade between the two ports through the launch of a motorway of the sea, writes John McLaughlin - Oct 9, 2009
A TRIO of Eastern European transport concerns launched a new inland container terminal in western Romania on Monday, aimed at opening up the northern Adriatic to multinational companies based in the area, writes John McLaughlin. - Sep 30, 2009
RECENT investment in its cruise facilities appears to be paying off for the port of Genoa, which now anticipates a 19% jump in passenger traffic to 650,000 passengers for the year after a strong summer season, writes John McLaughlin. - Sep 24, 2009
LOCAL political authorities in Genoa have approved a port authority proposal to build a new floating dry dock, a move that will also kickstart a long-awaited restructuring of the city’s shiprepair facilities and trigger private investment in this area of the port, writes John McLaughlin. - Sep 22, 2009
IN ITALY, they call them the ‘poison ships’, merchant vessels with toxic cargoes thought to have been deliberately sunk by organised crime elements a decade and more ago, writes John McLaughlin - Sep 18, 2009
CARNIVAL took delivery of its latest cruiseship at Fincantieri’s Monfalcone yard yesterday evening, and if there was the usual air of celebration about the event, there is also no escaping the shadows lengthening over Italy’s state shipbuilder, writesJohn McLaughlin - Sep 18, 2009
HUNDREDS of workers at Fincantieri’s Castellammare di Stabia yard south of Naples blocked a main coastal road for four hours on Friday morning in protest at temporary lay-offs set to hit as many as two thirds of the yard’s 700-strong workforce by the end of the year, writes John McLaughlin - Sep 7, 2009
MSC Cruises has confirmed that it is considering reflagging from Panama to Italy, as the Naples-based cruise company suggested it may have recaptured some ground this summer, writes John McLaughlin - Aug 28, 2009
ITALY’S private terminal operators have called for concerted Italian government and European Commission intervention to ease what they describe as a growing crisis in the national port sector, writes John McLaughlin - Aug 26, 2009
SHOW us the numbers,” demanded Silvano Cassano, chief executive of Genoa-based ferry company Grandi Navi Veloci, as Italy’s government prepares to unveil its blueprint for the privatisation of state-run Tirrenia, writes John McLaughlin. - Aug 26, 2009
IT MAY have been a long time coming, but with the Italian government’s terms for the privatisation of state-owned ferry company Tirrenia expected to be released in mid-September, private sector interest in the process is intensifying fast, writes John McLaughlin - Aug 25, 2009
HELSINKI-based Finnlines, which for the last four months has been the target of a sweeping reorganisation at the hands of new owner Emanuele Grimaldi, posted a net loss of €8m ($11.3m) for the second quarter, taking losses for the year to date to €29m, writes John McLaughlin - Jul 31, 2009
THE crisis is not over,” Contship Italia president Cecilia Battistello declared on Monday after a meeting with union representatives to discuss the situation at its five ports around Italy, writes John McLaughlin - Jul 29, 2009
LEADING Italian yachtbuilder Ferretti — which borrowed massively on the assumption that the market boom would continue indefinitely, and has paid the price — has finalised a debt restructuring that reorders the ownership of the company, writes John McLaughlin - Jul 24, 2009
EXECUTIVES at the Italian state-owned shipbuilder Fincantieri and leaders of metalworkers’ union Fiom will meet for talks on July 16 in an attempt to resolve a long and increasingly bitter dispute over a new labour contract, writes John McLaughlin - Jul 13, 2009
IT IS not quite a picture of unutterable gloom, but Italy’s marine insurers face a difficult year as the economic downturn continues to play havoc with global trade levels, writes John McLaughlin - Jul 9, 2009
ITALY’S shipowners will push for European action to develop effective coastguard operations in the countries bordering the Gulf of Aden as a direct response to the threat of piracy in the area, writes John McLaughlin - Jul 6, 2009
IN A major step forward for the port of Genoa, Voltri Terminal Europe has concluded a deal with local agents and forwarders that could end years of discord at Voltri, the port’s flagship box terminal, writes John McLaughlin - Jul 3, 2009
GENOA-based shipping concerns Grandi Navi Veloci and the Grendi Group yesterday launched a dedicated all-freight ferry service between the Ligurian capital and Porto Torres in northern Sardinia, writes John McLaughlin - Jun 30, 2009
MAURO Terrevazzi, one of the great figures of the modern cruise industry and among its most perceptive and far-reaching influences, has died aged 74 in Monaco after a long illness, writes John McLaughlin. - Jun 25, 2009
DEUTSCHE Schiffsbank has been forced to retreat after having the 40,170 gt bulker Umberto D’Amato arrested in Louisiana on Tuesday and promptly releasing the vessel on Wednesday when it discovered that its owner had not, in fact, broken the terms of its loan agreement, write John McLaughlin and Rajesh Joshi. - Jun 19, 2009
SHIPMANAGEMENT giant V.Ships has developed maritime threat-detection technology that it hopes to see deployed soon in the Gulf of Aden as a non-lethal response to pirates, writes John McLaughlin - Jun 17, 2009
IN A boost for the struggling Italian port of Genoa, Hanjin this week added the Ligurian capital to its China Mediterranean Express service at the expense of Naples, which it dropped from the roster, writes John McLaughlin - Jun 12, 2009
TRIESTE-based Samer & Co and the Artoni Group of Reggio Emilia are to pump an initial €30m ($42.2m) into a joint venture forwarding operation targeting the international market, and anticipate further investment as growth continues, writesJohn McLaughlin - Jun 11, 2009
CARNIVAL-owned Costa Crociere is putting the finishing touches to a €550m ($785m) loan agreement with the European Investment Bank that will help finance its €2.4bn newbuilding programme, writes John McLaughlin - Jun 3, 2009
GENOA-based ferry operator Grandi Navi Veloci yesterday signed a contract to take over the Quai Orsetti in the port of SÃ¨te as a base for a new range of services between France and the Maghreb, writes John McLaughlin - Jun 3, 2009
THE technology platform for the Mediterranean and Black Sea was officially launched on Monday, with a host of regional delegates pledging their support at the European Maritime Day stakeholders’ conference in Rome, writes John McLaughlin. - May 20, 2009
ITALY’S ports called for immediate action to remove obstacles to dredging at facilities around the country, charging that the system’s inability to secure deeper berths and channels was an active drag on Italy’s economic competitiveness, writesJohn McLaughlin. - May 20, 2009
GENOA-based Grandi Navi Veloci is to introduce a second vessel, the 32,800 gt Majestic , into its Geno a-Barcelona-Tangier service, reaffirming its belief that the trade between the Mediterranean, Europe and the Maghreb will be a major driver of its growth in the years ahead, writes John McLaughlin. - May 20, 2009