Friday  March 12  2010
   
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Auction at Platinum yachts

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An auction for a barge on 11-03-2010 at 1000 hrs at Dubai Maritime City.The auction is organized by Platinum yachts.For more details visit http://www.platinumyachts.ae/
 

Asia-Pacific Maritime 2010 to discuss the prospects of maritime industry

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11th edition of the Asia-Pacific Maritime (APM) Conference and Exhibition will be held in Singapore on March 24-26 this year. To build a better productive market for maritime industry players, including those in the Philippines, the three-day event will have conferences and seminars covering ship financing, maritime law, marine machinery, electronics and communications, tanker shipping and trade and green shipping.
The delegates and guests will include maritime businessmen, entrepreneurs, managers, professionals, and buyers from all around the globe. Twenty-seven industry organizations from 12 countries are supporting the event with the theme “Shipping in Asia Today, Preparing for the Future. Hennie van Schoor, Director of Business Performance for Asia Pacific of Maersk Line, the world’s biggest container shipping line, will inaugurate the conference. He will present his views on the economic crisis and provide insight into where the shipping industry should be headed.
 

Ship owners to cut emissions from shipping

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UN’s International Maritime Organization (IMO) calls for reducing emissions from ships to a 20 percent fall. Efthimios Mitropoulos, the Secretary General of IMO announced that new rules will be implemented for new vessels from rich and emerging nation to cut down emissions to the required level. He asked the owners to adopt measures to improve propulsion so that it could reduce the discharge of greenhouse gases significantly. Some emerging nations probably will resist these proposals because they want developed nations to act first, said Mitropoulos. U.S. and Europe were responsible for more than half of the emissions in the atmosphere. “I consider that it would create a very, very dangerous precedent if we were to move away from the level playing field,” Mitropoulos said yesterday in an interview in London. “It would introduce double standards on an industry that has to be regulated on an equal basis all over the world.” International shipping contributed about 2.7 percent of global emissions in 2007, according to a July report from the IMO. That share may rise as high as 18 percent by 2050 as trade grows and land-based emissions fall because of greenhouse-gas limits, it said. The IMO’s Marine Environment Protection Committee will consider endorsing the new rules next month at a meeting in London. Further approval would be required as early as October after industry consultation, and the rules could come into force as early as February 2012.
   

Abu Dhabi Ship Building reports record financial results for 2009

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 Abu Dhabi Ship Building (ADSB) has announced that it achieved a net profit of AED 114.39 million on revenues of over AED 1.16 billion for the year 2009, representing an Earning per Share (EPS) of 53.9 fils. Abu Dhabi Ship Building is a Public Joint Stock Company based in the UAE. The company also reported total assets of over AED 2.2 billion, a growth of 29 per cent over 2008 figures.
“ADSB is proud to announce results for 2009 that are the best in the company’s history so far. The company’s performance has remained strong despite the economic downturn and it was an honour for us in 2009 to start important new projects for the UAE Navy, the Critical National Infrastructure Authority (CNIA) and the Bahrain Navy,” said ADSB’s CEO William Saltzer.
The Board of Directors of Abu Dhabi Ship Building convened on 14 February 2010 and reviewed the audited financial results for the year ending 31st December 2009. The Board announced that it will recommend to the shareholders to approve the payment of a 10 per cent cash dividend (10 fils per share) to the shareholders of record, ten days after the Annual General Meeting (AGM). The AGM is scheduled for 12 April 2010, with a backup date of 19 April 2010 in case it is needed to meet quorum requirements.
ADSB’s Chairman of the Board of Directors, Homaid Abdulla Al Shemmari commented, “ADSB continued to perform strongly throughout 2009, reinforcing its role as a truly strategic asset for Abu Dhabi and the region. We are grateful for the continued commitment from our UAE and GCC customers, and we look forward to strengthening our position as the leading naval shipbuilder and provider of naval support services to the GCC region in 2010.

 

Can shipping comapnies recover by slowing down their vessels?

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After a brutal 2009 in the shipping industry, companies are taking things a little slower in 2010 - and saving their bottom lines from drowning.
Shipping companies, such as Danish carrier Maersk, are taking the slow boat to China, reducing their speeds and cutting their expenses. By halving its top speed, Maersk has cut its fuel consumption by almost 30% on certain routes, sacrificing time spent in transport for a more fuel-efficient trip.
The added benefit of the slowdown is the lowering of carbon emissions. As noted in The New York Times, transport emissions have soared in the past 30 years with the advent of long-haul shipping. Container shipping alone saw its emissions grow eightfold since 1985. According to the Times, more than 220 vessels are now practicing "slow steaming."
Two countries are not fans of this new trend in shipping: They're China and India.
   

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