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Chairman's
Commentary
 The tragedy of the Costa Concordia is a devastating blot on our industry. Whilst the jury is out on the cause of the accident it is likely that adherence to the "rules of the road" was not present.
At NYMAR we wish to express our collective condolences but want to take the opportunity to draw attention to the industry standards which we hold dear and to champion our expertise and affiliations in this regard...
[read more] |
NYMAR Interviews Industry Spokesperson Clay Maitland
Clay Maitland is the Managing Partner International Registries, Inc. (Marshall Islands), Founding Chairman of NAMEPA (North American Marine Environment Protection Association)...
[read
more]
NYMAR's 2012 Kick Off Meeting Enormous Success
Nearly 90 maritime professionals (with a smattering of cadets from King's Point) gathered at the New York Headquarters of Marsh for NYMAR's first meeting of 2012. Hosted by Marsh, the event was chaired by NYMAR's Vice Chairman, Larry Rutkowski of Seward & Kissel...
[read
more]
Upcoming Events
Propeller Club of New York/New Jersey AGM and Presentation
Wednesday, January 25th—Wednesday, January 25th from 5:00-7:00pm, is the Propeller Club Chapter's annual meeting and a presentation on Human Trafficking being held at the offices of Seward & Kissel (One Battery Park Place, New York).
Captain Lou Cavaliere will be speaking on "The Modern Day Slave Trade." Captain Cavaliere has recently retired as General Manager of government contracts for Keystone Shipping Co. Prior to that, he was a Captain in the US Navy...
[read
more]
"Boom, Bust and the Aftermath of Bankruptcy" Focus of New York Shipping Conference
Tuesday, February 7—Annual Joint Chambers of Commerce event looks at today and beyond. Examining strategies for survival is the focus of the 18th Annual Hellenic-American and Norwegian-American Chambers of Commerce Conference, often called the New York Shipping Conference...
[read
more]
Monthly
News
Carnival Ship Captain Under House Arrest as Death Toll Rises
N.Y.-N.J. Port Will Sell $400M
Push on for funds to deepen Delaware River channel
Oiling the wheels
Man about Town—Barry Parker Gives Us Art in New York
Meatballs and Moussaka
Photo of the month: "January in New York Harbor"
Financial Performance Charts |
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Chairman's
Commentary
The tragedy of the Costa Concordia is a devastating blot on our industry. Whilst the jury is out on the cause of the accident it is likely that adherence to the "rules of the road" was not present.
At NYMAR we wish to express our collective condolences but want to take the opportunity to draw attention to the industry standards which we hold dear and to champion our expertise and affiliations in this regard.
Safety at sea and for mariners in the light of environmental matters and piracy is of utmost concern. Our strong relationships with such organizations as NAMEPA enable us to be an advocate for these important aspects.
Additionally our membership cuts a broad swath across the industry and along with classification societies, insurance carriers, lawyers and others we are able to provide a significant level of expertise to address all these matters.
During the year ahead NYMAR will address such important topics and we will continue to focus heavily on the human element of our industry.
"Money and Ships" is a oft proffered cliché but it is far less important than "People and Ships" and it is with that epithet that we draw our strength and our collective conscience. |
Editor's Note: Maritime Administrator David Matsuda had originally agreed to be interviewed for this issue. Regrettably he could not meet that commitment, so NYMAR's own Clay Maitland has stepped into the breach to discuss ship safety.
NYMAR Interviews Industry Spokesperson Clay Maitland
 Clay Maitland is the Managing Partner International Registries, Inc. (Marshall Islands), Founding Chairman of NAMEPA (North American Marine Environment Protection Association). He is an active member of the maritime community, and among his many affiliations he is on the boards of the Maritime Industry Museum at Fort Schuyler, the American Merchant Marine Museum at Kings Point, and the Executive Committee of the Coast Guard Foundation. He plays an active role with the United Nations maritime sector.
Among his professional affiliations he is a former Chair of the Admiralty Committee of the New York City Bar Association and the Committee on Intergovernmental Organizations of the Maritime Law Association of the United States. Mr. Maitland has been the recipient of numerous awards for his work in the maritime community.
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| NYMAR: |
With the recent tragedy surrounding the Costa Concordia, what do you feel are going to be some of the key lessons from this event? |
| Maitland: |
Balancing size and safety is the course we need to steer. As we approach the 100th anniversary of the sinking of the Titanic, this coming April, passenger ship safety remains an important issue. Between 1990 and 2000, the cruise market increased by 60%, and ship size grew to vessels capable of carrying well over 3,600 passengers. Naval architects have devoted attention to methods of achieving rapid and safe evacuation, particularly access to lifeboats located at various parts of the passenger ship's superstructure. Chutes or slides are now available for passengers to enter lifeboats already in the water, either directly into the lifeboat, or by means of a transfer platform. These systems are designed to be effective in unfavorable weather conditions, or when the ship has heeled over. |
| NYMAR: |
How do these changes come about? |
| Maitland: |
The loss of the Titanic in April of 1912 began a revolution in passenger ship safety that has continued to the present time. Although an international conference was held in 1914, it was not until 1932 that an international Convention for the safety of life at sea (SOLAS) was agreed upon by major maritime nations. This Convention has been reviewed repeatedly over the years, in the light of sometime painful experience. |
| NYMAR: |
What are the biggest concerns today? |
| Maitland: |
Most worrying about modern passenger vessels is the very large number of human beings aboard, a factor that presents previously unprecedented logistical problems if anything goes wrong. Many observers have asked whether numbers of elderly or partly handicapped passengers can endure the stresses of a speedy emergency evacuation from a vessel that may be more than five stories high. In recent years, as passenger vessels have grown larger and larger in size, these issues have become more obvious. |
| NYMAR: |
Specifically, what could help mitigate these issues? |
| Maitland: |
The design of the giant supership does not permit the old-fashioned muster lifeboat drills, familiar to moviegoers of a certain age, where passengers actually were sent to boat stations shortly after a voyage began. Today, such drills are often merely simulations, in which passengers are shown a video or other form of demonstration. Senator Barbara Boxer has just introduced a bill that would require muster drill training prior to departure. I also believe this drill should mimic a real muster as much as possible, rather than watch a video in a lounge. |
| NYMAR: |
While the Costa ship has commanded recent headlines, there is another type of casualty that has captured your attention. |
| Maitland: |
Yes. On Christmas day, the bulk carrier VINALINES QUEEN, carrying a cargo of nickel ore from Morowali, Indonesia to China, went missing. The ship and its crew of 22 must now be considered lost. There continues to be a crying need for greater information, understanding and enforcement of regulations – as well as testing – of cargoes that may liquefy. Nickel ore is one such. Intercargo, the International Association of Dry Cargo Shipowners, has commendably been a leader in fighting for international action to protect the lives of seafarers, at risk when bulk cargo vessels, like the Supramax VINALINES QUEEN, suddenly disappear. It will be recalled that in December of 2010, three bulk carriers and their crews were lost, all as a result of cargo liquefaction. The danger hasn't gone away. There is a need for stronger and clearer requirements particularly with respect to accurate information on the carriage of bulk cargoes. |
| NYMAR: |
Well, what is being done about these situations? How is the industry reacting? |
| Maitland: |
In two months, the great, the good and the not-so-great-or-good will gather at the annual three-day Jamboree of the Connecticut Maritime Association (CMA). One of the hardy perennial topics is sure to be "the image of shipping." Although the present economic challenges facing the industry are likely to overshadow most worries about our reputation, it might be useful to examine the degree of damage done by cases like the sinking on Christmas day of the VINALINES QUEEN, Northeast of the Philippines, with the loss of all but one member of the crew. Although protection and indemnity clubs (P&I) have mounted campaigns to increase awareness of the need for independent testing of cargoes, and for the safe loading of nickel and other ores, the failure of a number of organizations to comment on the latest tragic sinking, honorably excluding the dry-bulk shipowners' association Intercargo, gives a hint as to why we are not very effective in "fighting our own corner." The industry's failure, with the exception of Intercargo, to promptly express its dismay at the loss of life makes us all appear to be uncaring. A problem of this nature, that has gone on for much too long, raises the suspicion that we as an industry lack the degree of integrity generally expected of business in the 21st century. |
| NYMAR: |
Thank you for being so candid.
To reach Clay Maitland, go to www.claymaitland.com or Twitter @claymaitland |
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NYMAR's 2012 Kick Off Meeting Enormous Success
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| From left to right: NYMAR Executive Director Carleen Lyden-Kluss, Martin McCluny from Marsh, NYMAR Vice Chairman Larry Rutkowski from Seward & Kissel, and Steve Washburn from Marsh. Photo by Gail Downing Karlshoej, Marine Money International |
Nearly 90 maritime professionals (with a smattering of cadets from King's Point) gathered at the New York Headquarters of Marsh for NYMAR's first meeting of 2012. Hosted by Marsh, the event was chaired by NYMAR's Vice Chairman, Larry Rutkowski of Seward & Kissel.
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From left to right: Martin McCluny from Marsh, Joanna Schaffer from Marsh, and Steve Washburn from Marsh. Photo by Gail Downing Karlshoej, Marine Money International |
In addition to catching up after the holidays, the focus of the evening was on a presentation by Martin McCluny, Marsh Managing Director for the Marine Practice, who delved into one of NYMAR's core maritime industry sectors: Insurance. The presentation covered an overview of hull and P&I insurance, along with charter party risk management in a "depressed" shipping market. For more on this riveting presentation, click here.
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Upcoming Events
Propeller Club of New York/New Jersey AGM and Presentation
Wednesday, January 25th
Wednesday, January 25th from 5:00-7:00pm, is the Propeller Club Chapter's annual meeting and a presentation on Human Trafficking being held at the offices of Seward & Kissel (One Battery Park Place, New York).
Captain Lou Cavaliere will be speaking on "The Modern Day Slave Trade." Captain Cavaliere has recently retired as General Manager of government contracts for Keystone Shipping Co. Prior to that, he was a Captain in the US Navy.
The meeting is open to all, but only Propeller Club members can vote.
Please RSVP to c.lyden-kluss@morganmarketcomm.com. Cost for the meeting is $25 for members and $50 for non-members.
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"Boom, Bust and the Aftermath of Bankruptcy" Focus of New York Shipping Conference
Tuesday, February 7
Annual Joint Chambers of Commerce event looks at today and beyond
Examining strategies for survival is the focus of the 18th Annual Hellenic-American and Norwegian-American Chambers of Commerce Conference, often called the New York Shipping Conference. Entitled "Boom, Bust, the Aftermath of Bankruptcy and the Future", the conference will present macro shipping and economic indicators, an overview of Chapters 7, 11 and 15, the many perspectives of restructuring, who are today's capital providers, new frontiers and opportunities for ship design, and shipowners' points of view. The event will be held on Tuesday, February 7th at the Waldorf-Astoria starting at 0815 with conference registration and coffee.
For information on program update and registering, click on this link. Contact for either Chamber (NACC +212 885 9737 or HACC +212 629 6380) or shipping@ntcny.org.
The cost for HACC/NACC members is $655 (additional members from the same company $575) and non-members is $775. |
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Monthly
News
Carnival Ship Captain Under House Arrest as Death Toll Rises
By Andrew Davis and Chiara Vasarri
Bloomberg
The captain of a Carnival Corp. ship that ran aground off Italy was placed under house arrest hours after audio emerged of a Coast Guard official ordering him to return to his damaged ship and oversee rescue efforts.
Captain Francesco Schettino, who may face criminal charges including manslaughter, was put under house arrest late yesterday by a judge in Grosseto, Italy, his lawyer, Bruno Leporatti, told reporters in remarks broadcast on Sky TG24 television. The ruling came hours after divers discovered five more bodies on the stricken ship, bringing the death toll to 11. Twenty-eight people are missing, according to Italy's Civil Protection agency.
Judge Valeria Montesarchio took three hours of testimony from Schettino as TV news programs and websites broadcast audio of phone conversations on Jan. 13 between Schettino and a senior Coast Guard official after the Costa Concordia struck rocks off the island of Giglio and tilted on its side with 4,200 people on board.
To read the rest of this article, click here.
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N.Y.-N.J. Port Will Sell $400M
By Paul Burton
The Port Authority of New York and New Jersey plans to auction $400 million of 171st Series consolidated bonds to support capital projects.
The deal is expected to be the largest competitive transaction for the week.
The bond maturities will run from 2030 to 2042.
Standard & Poor's and Fitch Ratings assign double-A minus ratings to the bonds, while Moody's Investors Service rates them Aa2.
Moody's assigned a negative outlook last year, based on stagnant growth in the New York City area and risk from development of the World Trade Center reconstruction in lower Manhattan. The move prompted concern among authority officials about access to the capital markets.
To read the rest of this article, click here.
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Push on for funds to deepen Delaware River channel
By Linda Loyd, Inquirer Staff Writer
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| Tankers, such as this one heading toward Marcus Hook, could carry heavier cargo loads. (DAVID SWANSON / Staff Photographer) |
Supporters of deepening the Delaware River navigation channel an additional five feet are making a big push now to secure federal funds that soon will be designated for navigation-improvement projects this year.
Before Christmas, Congress approved a fiscal 2012 spending plan that for the first time specified an amount, $74 million, to go for navigation construction aimed at improving traffic efficiency on U.S. rivers.
Deepening the Delaware's channel from 40 to 45 feet qualifies as such a project. The Army's office for civil works, with input from the federal Office of Management and Budget, will decide by the first week in February where the money will go. |
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Oiling the Wheels
By N.L. | CHICAGO
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| The head of BP spoke at the Economic Club of Chicago yesterday. Photo credit: AFP |
ONE might have expected a humble presentation from Bob Dudley, head of BP, who spoke at the Economic Club of Chicago yesterday. In 2010, his company was responsible for a disaster in the Gulf of Mexico when an explosion on the Deepwater Horizon rig killed 11 men, injured 17 others, and released more oil into the ocean than any other accident in the history of the industry. But it was not to be that way. Instead, and reading between the lines, Mr Dudley had an interesting new year's message for a country in the middle of hard economic times: you need us as much as we need you.
To read the rest of this article, click here. |
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Man about Town—Barry Parker Gives Us Art in New York
Meatballs and Moussaka"
By Barry D. Parker for NYMAR
 In a few weeks, the Norwegian American and Hellenic American Chambers of Commerce will be holding their 18th annual shipping conference. In a sign of the times, the theme of this year's event, to be held at the Waldorf-Astoria Hotel, is "Boom, Bust and Bankruptcy." With such weighty matters on the agenda, NYMAR members, and their out of town visitors coming in for the big confab, should consider the distractions, and perhaps- the inspiration, provided by two exhibits illuminating the Nordic and the Greek psyches.
Scandinavia House, at Park Avenue a few blocks south of Grand Central, offers its "Luminous Modernism: Scandinavian Art Comes to America" exhibit to commemorate the 100th anniversary of a ground-breaking show that was organized by the American Scandinavian Foundation (ASF). Though it contains eight of the works displayed a century ago, it has been expanded to include work by additional artists- and additional countries; Finland and Iceland were not part of the 1912-1913 exhibit. Not too coincidentally, the 1913 "Armory" show, ascribed by art historians as the coming-out party for modern art in the States, opened several months on the heels of the ASF show.
To read the rest of this article, click here. |
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Photo of the Month: "January in New York Harbor"
| —Photo captured by G. Justin Zizes Jr. |
Submit your photo to Carleen at c.lyden-kluss@morganmarketcomm.com for a chance to have it featured in next month's issue. |
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Financial
Performance Charts
Shipping
Company Performance Chart (NASDAQ)
(source: NASDAQ OMX)
The current January 2012 Financial Chart can be viewed here.
Browse the archives here. |
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