Every sailors dream package now can be realized in AET

Conscious of its pioneering role in oil transportation and alive to sea change taking place in manning operations American Eagle Tinkers (AET) have remarkable course alteration in order to set new standards and factoring in unmatched quality in ship operations. This it has forayed into an unchartered route by taking the unprecedented step of hiking salaries and offering benefits to its staff to a record level which so far no company or any seafarer could have ever dreamt of.

Witha fleet of76 tankers and 23 new builds to join the fleet by 2012 AET operates a young and technologically advanced fleet comprising of VLCCs, Aframaxes and product tankers from the three strategic %cations of Singapore, Houston and London delivering the highest quality of service to its customer base of oil majors and traders. The number one provider of lightering services in the US Gulf and the second largest owner-operator of Aframax tankers in the world, AET is a wholly owned subsidiary of MISC, the world's second largest shipping company by capitalisation. Yes AET has the ambition to become the first choice for global logistics solutions for the petroleum industry.

To read the full article, click here..
To read the ePaper, visit: http://www.eshippingtoday.com

The team work path to victory for V Ships

It's the 'Team Spirit' that can ensure Victory and V Ships used this theme at their seminar held on April 07 and 08, 2008, at Hotel Fariyas Lonavala, to bring home the truth to the officers and engineers who attended in large numbers.

It is working as a family that has brought in gain and this was highlighted during the two-day programme. Maintaining good relationships among the ship staff greatly helps in eradicating many of the problems confronting seafarers on board in their day-to-day work.

A number of presentations on various topics spread over the two days touched on important issues relating to this theme: These included Risk/Health and Safety, Good Purchasing practices, V Energy, Dealing with stress on board and Crewing. The organisers set aside ample time for interactions between the management and sailing staff which greatly helped in sorting out many of the problems, inconveniences caused and other issues that could result from conflicts.

Capt Simon Pressly, Chief Information Officer, lucidly explained what 'risk' was and the three areas that it held under control. He went into details about Personal risk, those considered as Operational risks and what V Ships considered as Business Risks.

To read the full article, click here...
To read the ePaper, visit: http://www.eshippingtoday.com

45th National Maritime day goes into history

The main function of the 45th National Maritime Day held at the YB Chavan Centre on April 05, 2008 in Mumbai became an auspicious event with soul searching for the players in the shipping arena while garnering the opportunities which the economic boom offered. Mr. Anwar-Ul-Hoda, Member, Planning Commission, the chief guest at the function came out in support of the Indian maritime sector offering a new direction which he felt, if pursued with renewed vigour would serve as a driver to the Indian economy.

"India is on the way to becoming an economic power, and the situation has changed in the past 40 years. Today, we know that India is a super power in the making," stated Mr Ul-Hoda.

"Shipping belongs to the service sector and this has grown at the rate of 9%, well ahead of the industrial growth which was pegged at around 8.5%. India is regarded as a leading exporter of commercial services which have grown three fold over the four years spanning 2002 to 2006, when it registered 3.72% growth. Shipping being an important constituent sector of transport, economists have come to the conclusion that India does not have a competitive edge in transport.

To read the full article, click here..
To read the ePaper, visit: http://www.eshippingtoday.com

India's ABG Shipyard plans US$200m share sale

ABG Shipyard Ltd, India's biggest shipbuilder outside state control, plans to raise US$200 million in a share sale in the middle of the fiscal year to help fund a third shipyard and expand an existing facility in Gujarat state.

The company is in talks with arrangers, including ICICI Bank, to sell the new stock, Rishi Agarwal, managing director of Mumbai-based ABG Shipyard, said. The company started its new business year.

'We will do it at the right time,' he said, declining to provide further details. 'We're aggressively pursuing growth.'

'The company has a huge order book and about half of them are repeat orders from customers,' said ULJK Securities analyst Omkar Vartak.

He expects the stock to reach 1,200 rupees in the next 12 months. Shares of ABG Shipyard rose 4.9 per cent to 719.6 rupees on Monday in Bombay. The stock has lost 27 per cent this year, compared with the benchmark Sensitive Index's 23 per cent decline.

ABG Shipyard's proposed third facility will be able to build vessels measuring 350 metres in length, compared with 250 metres at its existing facility in Dahej, chief financial officer Dhananjay Datar said. The company hasn't decided on the location for the new yard.

To read the full article, click here....
To read the ePaper, visit: http://www.eshippingtoday.com

Distress at Seafarer Shortage - Lloyd's Conference

The Shipping fraternity almost came to sending an SOS at the '3rd Manning & Training in India Conference' of Lloyd's List held on March I7 and I8, 2008 at the Intercontinental The Grand Hotel, Mumbai, because the seafarer shortage has begun to take its toll.

It was noted that the shortage was more critical on the nautical side especially in the ranks of mate and second mate. However, speakers came out stridently speaking highly of Indian seafarers for their skill, knowledge, integrity and reliability for which they have become the most sought after tribe the world over.

Mr Sabyasachi Hajara, Chairman & Managing Director of Shipping Corporation of India in his keynote address set the tone of the Conference with his presentation 'Growth & Development of India and its impact on IVianning & Training'. He noted the drift of Indian seafarers from Indian flag ships to foreign flag vessels is caused solely by the lure of a 'tax-free' pay packet arising out of certain unintended differential tax treatments. As a result the tonnage acquisition programme of the Indian shipping companies is in jeopardy.

To read the full article, click here...
To read the ePaper, visit: http://www.eshippingtoday.com