Asphalt Venture: Pirates shortchanged

Tugs stood by as Asphalt Venture was released with eight crew after a $3.5M ransom drop onboard April 15. More money was expected in the drop and seven hostages were taken and remain in Haradhere. more

Asphalt Venture: headed for Haradheere

Asphalt Venture, en route to Durban when radar observation showed her turn suddenly and set a course for Haradheere. There have been no reports of any contact with the vessel Sep. 29.

8875798 ASPHALT VENTURE 3EOU9 Asphalt Tanker 3884 1991 Panama managed by Mumbai-based Omci Ship Management Pvt



[2001]OMI’s vessels are technically managed (excluding insurance provided for vessels, which is managed directly by OMI) by a wholly owned subsidiary, OMI Marine Services LLC (“OMS”), located at offices in Stamford, Connecticut and Houston, Texas. OMS subcontracts several of the day-to-day operations to OMI Crewing Services Ltd. (“OMCI”), located in Mumbai, India (not a related party to OMI or any of its subsidiaries). OMCI is primarily responsible for the crewing, general maintenance and repairs, and the stocking of supplies on vessels.

Under the direction of OMS, OMCI purchases stores and spares for all vessels that they manage (OMCI manages all of OMI’s owned vessels with the exception of the two handysize crude oil tankers). OMS is also responsible for the drydocking of the vessels, including scheduling the drydocks and obtaining bids. OMI is kept apprised of all drydocking schedules and approves all related costs. OMI advances funds to OMCI for expenditures including crew wages, benefits, training, crew travel and airfare, salary, office and other expense of the technical staff of OMCI, allotments, union payments, and other expenditures covered under the process of Advances to Masters (which includes cash reserve on board, cash for bonded stores and provisions purchases and other items).

[2007]Danish shipping company A/S Dampskibsselskabet TORM (D/S TORM) (NASDAQ: TRMD) and Canada's Teekay Corporation (NYSE: TK) have finalised their plan for how to divide the assets of the jointly acquired US shipping company OMI Corporation (NYSE: OMI), D/S TORM said on Friday (3 August 2007).

Under the agreement D/S TORM will take over 24 product tankers from OMI, as well as OMI's technical operations in India and a part of its organisation in the US.

[2010]TORM A/S (TORM), formerly Aktieselskabet Dampskibsselskabet Torm, is a Danish shipping company engaged primarily in the ownership and operation of product tankers and dry bulk carriers. TORM consists of two business segments: the Tanker Division and the Bulk Division. The Company’s product tankers primarily carry refined products, such as naphtha, gasoline, gas oil, jet fuel and diesel oil. Its dry bulk vessels carry commodities, such as coal, iron ore and grain. As of December 31, 2009, the Company’s fleet of owned vessels consisted of 64 product tankers and four dry bulk carriers. The total tonnage of those vessels is approximately 4,146,031 deadweight tons (dwt). In addition, it chartered in 27 product tankers and nine dry bulk carriers, and commercially managed approximately 38 vessels for third-party owners and charterers. TORM’s vessels trade worldwide.

1. OMCI Shipmanagement
OMCI is a ship management brand that currently manages about 36 ships and is also engaged in new building supervision. It is a part of the W-O Shipping Group which spans 5 countries in 3 continents OMCI, the shipmanagement arm of the W-O group.
OMCI Shipmanagement Pvt Ltd, hereafter referred to as OMSL, is a private company that was incorporated in Mumbai, India

MARIDA MARGUERITE: Economou tanker

George Economou , beneficial owner, Chemical tanker MARIDA MARGUERITE, was hijacked 120 miles south of Salalah (Oman). The Marshall Island-flag ship was approached by a pirate skiff firing automatic weapons and rocket propelled grenades and the crew reported that they saw the pirates climbing onboard.


MARIDA MARGUERITE IMO: 9445655


GEORGE Economou has set himself up for a slice of Morgan Stanley’s involvement with renowned tanker pool player Heidmar Inc, through the acquisition of a 49% stake in the Per Heidenreich-founded group. here
Heidmar, W-O Shipping Joint Tanker Venture
Heidmar Inc. and W-O Shipping Group B.V. have agreed on terms for the formation of a joint venture, WOMAR Holdings LLC, to commercially manage small and intermediate size IMO II/Chemical and other tankers less than 30,000 DWT.

Heidmar's Marida Tanker pool and W-O Shipping's Yamuna and Ganges pools will become part of the joint venture and will be managed by WOMAR from offices in Singapore and London. The intent of the joint venture is to provide tanker owners in this market segment with worldwide market coverage and it will initially have a combined fleet of over thirty tankers ranging in size from 3,750DWT to 16,700DWT.

Morgan Stanley Capital Group Inc. Signs Definitive Agreement to Acquire the Heidmar Group
Morgan Stanley Capital Group Inc. ("MSCGI"), the commodities division of Morgan Stanley (NYSE: MS), announced that it has reached a definitive agreement to acquire the Heidmar Group of companies, including Texas-based Houston Marine Services, Inc. ("Heidmar"). Both MSCGI and Heidmar view the transaction as an opportunity to build on what is already a premier franchise in international shipping. The acquisition is expected to close during MSCGI's fiscal fourth quarter, subject to the customary closing conditions, such as regulatory and antitrust reviews. Financial terms were not disclosed.

John Shapiro, President of MSCGI, said, "We are pleased to have reached a definitive agreement to acquire Heidmar and we look forward to working with its excellent management team to continue to expand its business. Heidmar has been built over the years with intense focus on customer-service and transparency. We aim to continue that tradition."

Per Heidenreich, Chairman & CEO said, "We are thrilled to be associated with the Morgan Stanley organization. We are confident that with their support Heidmar will continue to grow as a global logistics provider."

Heidmar Inc. ("Heidmar") announced today that Shipping Pool Investors Inc ("SPII") has entered into a definitive agreement to purchase a 49% stake in the company. In a related transaction, senior members of Heidmar's management will purchase a 2% equity stake in the company. Morgan Stanley, through its subsidiary Morgan Stanley Capital Group Inc. ("MSCGI"), will retain a 49% ownership stake in the company. It is anticipated that, subject to the receipt of necessary regulatory approvals, both purchase transactions will close within 30 days.

SPII is a company affiliated with the Cardiff Group ("Cardiff") whose founder is Mr. George Economou. Cardiff has extensive interests in the dry and wet freight shipping industry. Ten of Cardiff's vessels currently participate in two of the Heidmar shipping pools.