An Interesting Outlook

This is definitely an interesting outlook for the yachts industry:

Hopefully within a few years the black smoking ships and yachts could be just a memory.


Brexit, finally!

Just a brief consideration about the “new” european sistuation that will have to set up after the result of eu referendum in United Kingdom. I would like to talk about an aspect of the yachting: according to a recent survey, 95% of superyachts have an offshore british flag and upto now in many “european waters” (especially italian) there was a sort of “3 monkeys attitude” about these yachts. Now, how long will we have to wait before these flag(s) , according to the regulations, will be considered not-european? Did you ever see a proper check carried out by maritime authorities in the ports and marinas about those yachts? british-flag-luxury-expensive-yacht-antigua-island-marina-hd-1169_ekourmn__S0000

The “Smart Momentum”.

The following images are of today.

While the number of oil tankers in front of Galveston is becoming quieter and normal galveston (2)the situation in front of Singapore is as you can see here singapore (2)

Some months ago there was similar situation in front of Galveston when the oil price collapsed to 28-30 $ and the companies ordered not to deliver the oil waiting for a better price. But now, what are they waiting for in Singapore? Simple: the chinese consumptions are slowing (to say the least) and the oil depots on land are not ready to receive any bunkering.

Maybe the “smart momentum” of chinese economy declared by the media mainstream is not so smart…

Watch out the whales

Whalesafe is a three-year conservation project co-funded by the European Union through the Life + program, which sees a partnership composed of University of Genoa, Costa Edutainment, Maritime Directorate of Genoa, the Harbour of Savona and Softeco Sismat. The system consists of four technology buoys, powered by renewable energy sources, equipped with hydrophones to listen to the clicks of the whales that make it possible to trace the submarine routes of cetaceans in the sea in front of the ports of Savona and Vado. Via a WiFi connection will be able to monitor in real time the movement of cetaceans and therefore determine the possible risks of collision with boats in the area.

In addition to the system monitoring and reporting, it is developing a protocol of conduct to reduce the risk of disorder and collision that, thanks to collaboration of  the Coast Guard of Savona, it will be presented and discussed with shipping companies, agencies, yacht clubs. Upon receipt of warning messages, ships present in the area will be invited to follow the protocol and the Coast Guard will check its respect.Screenshot_2016-05-15-18-14-02-1

Mayday Mayday Mayday

From Shanghai to Hamburg, the liner shipping industry is in crisis. The bustling trade route is falling and the flow of goods has slowed dramatically between Asia and Europe.
First there was the boom of mega-ships – they were built of gigantic – but the recent downturn has sparked a race to lower transportation costs and this has affected all the world’s fleets.
The slowdown of the Chinese economy and the global economic crisis are hitting hard the logistics and maritime transport.
Jonathan Roach, analyst at Braemar ACM-Shipbroking, said that about 100 departures Asia-to-Europe were canceled last year, or 10% of the regular trips on the route.
Last November, Maersk Line has announced that the risk of having to lay off 4,000 employees and halted new orders for ships to overcome the collapse in freight rates.shangai containerized freight index china containerized freight index

Hanjin Shipping – one of the leading shippers of South Korea – is urging shipowners about the situation of its chartered vessels, it suggested that needs assistance in order to support the effort of the restructuring and the serious liquidity problem.
Unfortunately there are few alternatives in a weak market, transport prices contracted sharply.
Hanjin recently required a restructuring plan of debt to Korea Development Bank. KDB must assess whether help Hanjin or put into administration: PricewaterhouseCoopers has estimated that this operation could cost a billion dollars, to allow the company to maintain its operations over the next two years.
Hanjin will have to significantly cut the cost of the rental, but also the Korean Hyundai Merchant Marine is under renovation.
Cho Yang-ho has suddenly resigned as chief organizer of the Winter Olympics 2018, in order to look exclusively of the Hanjin Group rescue: the answer to the severe financial difficulties at a time of restructuring and stabilization, KDB asked him to revive the company of navigation.
Many shipping companies suffering from heavy debts because of the expensive rents paid to the owners of the ships.
Hyundai Heavy Industries (HHI) and other shipbuilders are struggling to stay afloat. They plan mass layoffs.
Meanwhile, the Korean government is planning to help the shipbuilding industry because it is a special area that has always created a lot of employment.
The Korean Ministry of Labor is considering different ways to support employees in this sector by offering subsidies and benefits.
HHI and Daewoo Shipbuilding and Marine Engineering (DSME) are cutting the workforce because they too are under renovation.lighter trafficLast year, Shanghai International Port (Group) Co., a major container operator in China, saw off the load to 513 million tons, a decline of 5% from 2014.
Willy Lin, chairman of the Hong Kong Shippers’ Council (since 1999), states that the car parts imported from Europe and assembled in China decreased by 13% in 2015. Shipments of luxury goods (clothing of high-end and shoes) from Europe declined by 15% last year.
The Baltic Dry Index – the important index which measures the cost of bulk transport of coal, iron, wheat, and other non-oil commodity – is at an all time low.baltic dry indexGlobally, orders for new vessels fell by 40% in 2015. The orders for dry bulk vessels, ie door-dry bulk ships, were 1,200 in 2013, in 2015 there were only 250.
The damage is particularly serious in China, the world’s first manufacturer of ships. New orders for Chinese shipbuilders have fallen by nearly half compared to last year (it says the Ministry of Industry and Information Technology of China)
Michele Francioni – CEO of Rina Services – argues that “The trend in the ocean shipping market in this period is mainly dominated by three factors: the excess of the market available tonnage to be getting smaller, the price of oil down and the inevitable reduction in capacity from Asian shipyards also in 2015 “.
The only companies that are taking advantage in this time of crisis, companies operating in the oil sector. They’re taking advantage of the price of crude oil at historic lows and are increasing their stocks: orders for new tankers increased by 14% in 2015.
Given the dismal prospects in the field of the builders and owners of vessels, Hanjin want to ask them, as part of its restructuring costs, a substantial cut in freight rates, or to accept as payment a portion of its shares. In both cases it is a little tempting deal for the owners of ships, however, given the general market conditions will have to accept reluctantly, in the absence of other bids.
These figures clearly speaks about the real prospects of economic recovery much-publicized by the media.

Thanks to Rischio Calcolato


The worst enemy of capitalism? The capitalism.

A shocking new survey has found that support for capitalism is dying in America.  In fact, more than half of all adults in the United States under the age of 30 say that they do not support capitalism at this point.  You might be tempted to dismiss them as “foolish young people”, but the truth is that they are the future of America.  As older generations die off, they will eventually become the leaders of this country.  And of course the nation has not resembled anything close to a capitalist society for quite some time now. Some Americans actually end up returning more than half of what they earn to the government by the time it is all said and done.  So at best it could be said that they are running some sort of hybrid system that isn’t as far down the road toward full-blown socialism as most European nations are.  But without a doubt we are moving in that direction, and our young people are going to be cheering every step of the way.
An Harvard University survey, which polled young adults between ages 18 and 29, found that 51 percent of respondents do not support capitalism. Just 42 percent said they support it.
It isn’t clear that the young people in the poll would prefer some alternative system, though. Just 33 percent said they supported socialism. The survey had a margin of error of 2.4 percentage points.
Could it be possible that young adults were confused by the wording of the survey?
Well, other polls have come up with similar results…
The university’s results echo recent findings from Republican pollster Frank Luntz, who surveyed 1,000 Americans between the ages of 18 and 26 and found that 58% of respondents believed socialism to be the “more compassionate” political system when compared to capitalism. And when participants were asked to sum up the root of America’s problem in one word, 29% said “greed.”
This trend among our young people is very real, and you can see it in their support of Bernie Sanders.  For millions upon millions of young adults in America today, Hillary Clinton is not nearly liberal enough for them.  So they have flocked to Sanders, and if they had been the only ones voting in this election season, he would have won the Democratic nomination by a landslide.
Sadly, most of  young people don’t seem to understand how socialism slowly but surely destroys a nation.  If you want to see the end result of socialism, just look at the economic collapse that is going on in Venezuela right now.  The following comes from  a Bloomberg article entitled “Venezuela Doesn’t Have Enough Money to Pay for Its Money“…
Venezuela’s epic shortages are nothing new at this point. No diapers or car parts or aspirin — it’s all been well documented. But now the country is at risk of running out of money itself.
In a tale that highlights the chaos of unbridled inflation, Venezuela is scrambling to print new bills fast enough to keep up with the torrid pace of price increases. Most of the cash, like nearly everything else in the oil-exporting country, is imported. And with hard currency reserves sinking to critically low levels, the central bank is doling out payments so slowly to foreign providers that they are foregoing further business.
Venezuela, in other words, is now so broke that it may not have enough money to pay for its money.
We are losing an entire generation of young people.  These days, there is quite a lot of talk about how we need to get America back to the principles that it was founded upon, but the cold, hard reality of the matter is that most of our young people are running in the opposite direction as fast as they can.
And Americans under the age of 30 are not just becoming more liberal when it comes to economics.  Surveys have found that they are more than twice as likely to support gay rights and less than half as likely to regularly attend church as the oldest Americans are.
So why is this happening?
Well, the truth is that colleges and universities have become indoctrination centers for the progressive movement. The quality of the education that our young people are receiving is abysmal, but the values that are being imparted to them will last a lifetime.
And of course the same things could be said about our system of education all the way down to the kindergarten level.  There are still some good people in the system, but overall it is overwhelmingly dominated by the progressives.
Meanwhile, the major entertainment providers in the United States are also promoting the same values.  A Nielsen report which detailed how much time the average American spends consuming media on various electronic devices each day…

Watching live television: 4 hours, 32 minutes

Watching time-shifted television: 30 minutes

Listening to the radio: 2 hours, 44 minutes

Using a smartphone: 1 hour, 33 minutes

Using Internet on a computer: 1 hour, 6 minutes

Overall, the average American spends about 10 hours a day consuming one form of entertainment or another.
When you allow that much “programming” into your mind, it is inevitable that it is going to shape your values, and our young people are more “plugged in” than any of the rest of us.
So yes, I believe that it is exceedingly clear why we should be deeply concerned about the future of America.  The values that are being relentlessly pounded into the heads of our young people are directly opposed to the values that this nation was founded upon, and it is these young people that will determine the path that this country ultimately takes.