Could this week's news that three Hamburg-based shipowners - F. Laiesz, Norddeutsche Reederei H. Schuldt and Rickmers Reederei have established a programme to financially stabilise loss-making cargo ships - Frachtschiff-Kontor (F-K) - be good for the bele

We hear that banks continue to screw down vessel owners to inject more of the owners' cash in financial restructuring deals for cargo vessels, so will be intrigued to see whether the concept developed by F-K will serve the interests of all stakeholders tied into loss-making vessels. F-K says that the goal is fully-refinancing the vessel in five years or sparking a sale of the ship and reports that it has already bought four ships with a value of USD100 million, with deals valued at approximately USD150 million in the pipeline. HLPFI understands that the programme will also work for heavy lift vessels.

Big name brands in the world of heavy lift shipping were in the news this week as Hanssy Shipping and OXL revealed that they have entered into a joint venture cooperation; NYK Line confirmed that NYK Bulk & Projects Carriers Ltd will be created on October 1, 2013, as the home of the wholly-owned subsidiary companies; NYK-Hinode Line Ltd and NYK Global Bulk Corporation; and Intermarine LLC inked a sale and leaseback agreement for its breakbulk terminal on the Houston Ship Channel.

Meanwhile, we note that the multinational freight forwarding sector is set to lose one of its highest profile female managers with the departure of Monika Ribar, ceo of Panalpina, next month.

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On the business pages

Agility's full year financial results for 2012 ending December 31 show a net profit of USD120.5 million, up 27 percent over FY 2011 from 2012's revenue of USD4.91 billion, a seven percent year-on-year boost over 2011. Financially troubled Sietas shipyard is about to finish the first jack-up vessel designed and built in Germany, for Dutch marine engineering concern, Van Oord. It is reported that CEVA Logistics has nixed its initial public offering (IPO) citing the company's unfavourable performance in what ceo Marvin Schlanger concedes are "difficult times." Gulf Agency Company (GAC) has seen two of its subsidiaries - GAC Cyprus and GAC Greece - awarded TRACE International certification, demonstrating transparent and ethical business practices.

In the hold

Jumbo Shipping has transported a 7,777-tonne tunnel boring machine from Japan to the USA on board the Fairpartner to dig a highway tunnel under downtown Seattle. Fairmount Marine's tug, Fairmount Summit has delivered the SSV Catarina rig offshore Angola, after a 16,100 km voyage from Okpo, South Korea. Atlas Air has taken delivery of its eighth B747-8 freighter, and marking the start of the new shipping season, the St. Lawrence Seaway has opened its locks for vessels to enter the Great Lakes and deliver cargo to US and Canadian Great Lake ports. Gentlemen, start your engines.


Aaras Shipping Agencies has completed the shipment of a 333.9-tonne LMH 320 Gantry Crane and accessories from Karachi Port, Pakistan to Jebel Ali, UAE. Intermax Logistics Solutions has shipped 15 units of over-dimensional cargo from Deyang, via Chongqing, to Nantong. Blue Water Shipping's project teams in Singapore, Rio de Janeiro and Esbjerg, Denmark teamed-up to deliver a heavy shipment for oil and gas client SBM Offshore. Seaway Heavy Lifting has secured a contract from Siemens for the transportation and installation of the Sylwin Alpha jacket and transmission station.

On the waterfront

The port of Antwerp has signed a collaboration agreement with Sao Paulo state in Brazil. Double-digit cuts in some tariffs have been revealed by South Africa's Transnet National Port Authority.

Hatches, matches and dispatches

Stephen Griffen is the new chairman of the Port of Stockton board of commissioners, Victor Mow is its new vice-chairman and Michael Duffy is a new board member. Philippe Gilbert is now regional director Europe West of DB Schenker Logistics, while Heiner Murmann joins Schenker AG's management board with oversight for the global air and ocean freight business of DB Schenker Logistics. Geodis Wilson has a new md of Colombia as Santiago Jimeno takes over from Leif Voelcker, who has relocated to India as cluster managing director - South Asia. Hyundai Merchant Marine appointed Yoo Chang-Keun as its new president and ceo.

A quintet of senior appointments to Damco's Latin American management team sees Stefan Bengtsson join as cfo for Latin America from K + N; Sune Stilling has given up being West Africa md to become coo for Latin America succeeding Svend Erik Arp. Antonio Morciano is now regional head of ocean freight for Latin America. David Juarez has been named regional vertical head of retail and lifestyle for Latin America. Enrique Fajardo joins as md for the Andean Cluster, consisting of Colombia and Ecuador.

Manilal Patel Clearing Forwarding of New Delhi, India has become the newest member of the XLProjects (XLP) forwarder network, while Safesea AMI Shipping has become the fifth and final member of the Project Cargo Network (PCN) in Canada.

All about Evie

Friday Flyer gossip columnist Evie Aufheben was intrigued by this week's news about a Samoan airline that has become the world's first carrier to charge passengers according to their weight, and is left wondering whether a lady should be expected to reveal her weight at the check-in counter, any more than she should reveal her age?

Evie has great respect for Albert Pegg, senior advisor at Antwerp Port Authority, and notes that he will be wielding the starter's gun for next months Business Run taking place during Breakbulk Europe in Antwerp. She wonders whether Luke King and Ian Matheson, once again representing HLPFI will better their joint last place finish in last year's event!

Watching a promotional video on the PowerLogistics Asia 2013 website, Evie thought it was a little strange seeing her old friend Gary Dale Cearley being included as a spokesperson for an event that she assumes he is no longer associated with, following his split from the Global Project Logistics Network and establishment of XL Projects network recently.