• 2019 June 19 11:37

    Ship inspection platform Idwal urges investors to carry out due diligence on asset condition as standards decline

    Idwal, a leading maritime consultancy and data service provider which hosts the industry’s first online inspection platform InspectmyshipTM, has called upon investors to pay greater attention to the management and maintenance regime of their assets.
     
    During Marine Money Week in New York, Nick Owens, Managing Director of Idwal, demonstrated how there has been a marked decline since 2017 in the condition of dry bulk, particularly in the handy and supramax sectors, and container ships.
     
    Analyzing data from InspectmyshipTM, Owens highlighted the wide range of condition and management scores between technical managers.
     
    “Idwal’s data also shows that technical managers don’t always manage vessels to the same standard consistently within their own managed fleet, underlining the need for shipowners to keep a keen eye on the management of their assets”, said Owens.
     
    Born from a rich maritime tradition, Idwal recognised the challenges clients face in getting vessel inspections carried out accurately, quickly, consistently and cost effectively to help make investment decisions. In 2017, Idwal launched InspectmyshipTM, the industry’s first online platform to offer instant online quotations, a global network of qualified surveyors, fast response, competitive pricing and reports that are easy to understand and act on.
     
    Idwal uses smart data analytics to help clients identify and understand their asset’s condition compared to its peers, giving the critical analysis needed for maritime investments.

    The Idwal grade is the industry’s only consistent source of standardized ship-condition data available and is becoming the industry benchmark for banks, financial institutions, private equity groups, ship owners, brokers, insurers and charterers.
     
    The Grade is a culmination of a weighted grading system and an underlying set of algorithms which automatically determine a vessel grade, based on the input inspection data. Each vessel is inspected to the same standard, including the collection of over 450 data elements, culminating in 21 sub-grades, which ultimately calculates a single final condition grade for every vessel for every ship type in every sector.
     
    With a network of over 200 surveyors performing inspections in over 446 ports in 90 countries, Idwal’s data set of relevant vessel condition & management data now exceeds 2000 ships.




2019 November 12

13:09 The Port of Gdansk connects Poland and Singapore
13:06 Bunker prices go down at the Far East ports of Russia (graph)
12:43 NMDC to complete fleet-wide conversion to Thordon seawater lubricated composite cutter shaft bearings
12:28 Admiral Makarov SUMIS confirmed unique competence in dynamic positioning operators training
11:44 RINA works with the National Technical University of Athens to support the future Young Engineers in Greece
11:19 IMO launches online tool to smooth reporting formalities
10:47 Montreal, Canada to host 16th Arctic Shipping Summit on 11-12 March 2020
10:25 Number of new watercraft registrations increasing in Finland
10:23 MABUX: Bunker market this morning, Nov 12
10:01 Hydrographic surveys in the Vuoksi river system to ensure safe navigation
09:42 Fleet Xpress agreement marks new stage in Bourbon digitalisation strategy for offshore
09:32 Brent Crude futures price is up 0.11% to $62.26, Light Sweet Crude – up 0.11% to $56.92
09:16 Baltic Dry Index is down to 1,345 points

2019 November 11

18:33 Alfa Laval opens new global Innovation & Test center outside Copenhagen
18:03 ABS issues industry-leading guide for firefighting for cargo areas of container carriers
17:54 Yantar shipyard launches lead rescue ship of Project 23700 named Voyevoda
17:48 Massterly and the future of autonomous shipping
17:25 Throughput of Russian seaports in 10M’19 grew by 3.2% to 701.48 million tonnes
17:03 Wärtsilä and PSA Marine achieve breakthrough in IntelliTug project
16:44 University of Rochester create a metallic structure that won't sink
16:39 Petersburg Oil Terminal transshipped 5.9 million tonnes of oil products in 9M’19, up 3.5% YoY
16:27 Throughput of port Riga (Latvia) in 10M’2019 fell by 8.7% Y-o-Y to 27.3 million tonnes
16:15 LuminUltra warns of increased microbial influenced corrosion with IMO 2020 compliant fuels
16:08 USCG responds to aground Panamian-flagged cargo vessel north of Fishers Island
15:50 Average wholesale prices for М-100 HFO down to RUB 8,504 in RF spot market
15:37 Damen secures repeat order from B.C. Ferry Services
15:32 Wärtsilä’s single-source capability key to new vessels order
15:29 DP World’s JV wins concession for Berths No 11-12 of Port 2000 in Le Havre
15:02 LUKOIL reports preliminary operating data for Q3 and 9M of 2019
14:33 Rail terminal at Kiel’s Schwedenkai will get an additional track
14:19 APEM wins Enterprize Energy offshore wind farm contract
13:42 MCB Group enters the market of insurance expertise
13:21 Fleet Xpress agreement marks new stage in Bourbon digitalisation strategy for offshore
13:00 Bremenports launches campaign in the port Hinterland
12:35 IAPH tools assist safe bunkering of clean marine fuels
12:09 Van Oord announces new Executive Governance structure
11:48 Port of Barcelona promoted in Tokyo
11:26 Primorsk Marine Grain Terminal to be put into operation in 2024
11:09 Port of Oakland export volume jumped 10.8 percent in October 2019
10:50 Missile cruiser Marshal Ustinov of RF Navy’s Northern Fleet calls port of Malabo
10:09 Hapag-Lloyd to implement GRI for Trans-Pacific trade eastbound
09:54 Port of Southampton to host MSC Grandiosa UK launch
09:47 MABUX: Bunker market this morning, Nov 11
09:42 Brent Crude futures price is down 0.88% to $61.96, Light Sweet Crude – down 0.82% to $56.77
09:25 Baltic Dry Index is down to 1,378 points
09:10 Port of Long Beach posts container volume of 688,425 TEUs in October 2019

2019 November 10

16:51 Vard Marine contracted to provide design package for two SeaFloat power barges
14:41 IMO: Skilled, ambitious and increasingly visible – maritime women profiled
13:37 ABS achieves new international safety standard
12:42 USCG responds to oil discharge in Honolulu
11:38 CMA CGM announces general rate restoration for Pakistan to Kenya and Tanzania trade
10:59 CSBC-DEME Wind Engineering (CDWE) signs contracts for the Zhong Neng offshore wind farm in Taiwan

2019 November 9

15:23 GE Renewable Energy signs agreement with China Huaneng Group to build 715 MW wind farm in Henan province
14:03 HII authenticates keel of guided missile destroyer Jack H. Lucas (DDG 125)
12:57 BC Ferries adds 28 sailings for remembrance day weekend
11:53 Fincantieri reports 9.7% growth in revenues in Jan-Oct and total backlog above EUR 32bn with ships to be delivered up to 2027
10:31 First ever LNG bunkering at the Port of Nagoya, Japan

2019 November 8

18:26 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea and East Med to Far East, Middle East Gulf and Red Sea
18:09 The Port of Barcelona organizes the Smart Ports - Piers of the Future
17:50 Bunker prices are flat at the port of Saint-Petersburg, Russia (graph)