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The future of Bavaria Yachts and its entire staff is secured following sale to private equity fund

The boatbuilder, Bavaria Yachts, which went into administration in April this year, has been sold to a private equity fund advised by German based CMP Capital Management-Partners. The acquisition includes Bavaria Yachts with its 550 staff and all the shares in its subsidiary Bavaria Catamarans that employs 250 people.

The purchase will be completed after merger control clearance by the German Federal Cartel Office – expected in a couple of weeks.

Restructuring
“We are convinced of Bavaria’s global market potential and will sustainably develop the company,” said Kai Brandes, CMP Capital Management-Partners MD. “The restructuring measures will focus on regaining market share and improving production costs.”

Continue reading “The future of Bavaria Yachts and its entire staff is secured following sale to private equity fund”

TT Club issues advice on dealing with container fires

To tackle a fire in a hold, TT Club notes a CO2 system will be installed if the ship is carrying dangerous goods.
To tackle a fire in a hold, TT Club notes a CO2 system will be installed if the ship is carrying dangerous goods.

According to TT Club, container fires are a far more regular occurrence than most people would realise. Statistics show there is a major container cargo fire at sea roughly every 60 days. So, tackling fires and subsequent investigations are complex and vitally important activities.

With increasing container ships size increases the risk of a fire incident increases too. Despite some regulatory and technical advances, the fact is that the ability to respond to a cargo-related fire at sea has not progressed as needed in recent times.

To tackle a fire in a hold, TT Club notes a CO2 system will be installed if the ship is carrying dangerous goods. The gas released from a CO2 system can displace the oxygen in the hold and smother the fire. However, for CO2 to be effective, the hold must be closed to retain the gas and prevent oxygen ingress.

If an incident has taken place in a container stowed on deck, water will be the only option available . Nevertheless, it is unlikely to extinguish a fire inside a container in the short term.

In addition, crew members should seek Continue reading “TT Club issues advice on dealing with container fires”

The dangers of carrying nickel ore cargo and the associated risks are highlighted by The West of England P&I Club

Photo credit: Shipspotting
Photo credit: Shipspotting

The West of England P&I Club has warned operators and others involved of the dangers of carrying nickel ore. Carrying nickel ore can be dangerous, because of the risk of liquefaction of the cargo on passage when the moisture content is higher than the cargo’s Flow Moisture Point (FMP).

After a number of ships being lost, with liquefaction of their nickel ore cargoes suspected of being the cause, the West of England Club published a Notice some years ago addressing the Dangers of Carrying Nickel ore. This Notice is still in forced and was re-issued as No.13 2017/2018 – Dangers of Carrying Nickel Ore from Indonesia and the Philippines – Mandatory Notification Requirements (re-issued).

The Club reminds operators of the risk of liquefaction with this cargo, as showcased by the loss of the ‘Emerald Star’, which claimed the lives of 11 seafarers in October 2017.

In addition, the Club has been informed of Continue reading “The dangers of carrying nickel ore cargo and the associated risks are highlighted by The West of England P&I Club”

India set to construct National Maritime Heritage complex at Lothal

India's Prime Minister Narendra Modi who asked the shipping ministry to build a maritime heritage complex in Gujarat
India’s Prime Minister Narendra Modi who asked the shipping ministry to build a maritime heritage complex in Gujarat

The Indian Ministry of Shipping, through its flagship programme Sagarmala, is closely working with Government of Gujarat state and other stakeholders to showcase India’s rich maritime heritage through development of a World Class Maritime Heritage Complex (NMHC) at Lothal in the state of Gujarat.

Preliminary work on design elements of the proposed heritage complex has been completed and consultations from experts are now under process.

In order to further plan and take the project forward, a one day consultation workshop was held at Chatrapati Shivaji Maharaj Vastu Continue reading “India set to construct National Maritime Heritage complex at Lothal”

Shipping fears engine failures as industry switches to low sulphur fuel

By Ellen Milligan (Bloomberg). Add oil tankers breaking down at sea to the list of things shipping companies are worrying about as they brace for a once-in-a-generation overhaul to the kind of fuel the industry must consume.

From Jan. 1, 2020, the vast majority of the world’s merchant fleet will have to use fuel containing no more than 0.5 percent sulfur, down from 3.5 percent in most parts of the world today. The change is expected to upend both shipping and refining industries, with analysts forecasting higher oil prices, slower-sailing ships, and some observers even warning of risks to world trade.

Now more and more of the world’s largest shipping companies and trade groups, already mindful of spiralling costs, are saying there’s a Continue reading “Shipping fears engine failures as industry switches to low sulphur fuel”

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