MarineLINE Coating System is Making Waves in Turkey: Securing 4 New Recoating Contracts in 10 Days
Turkey’s maritime landscape is currently abuzz as the prestigious MarineLINE® Cargo Tank Coating System asserts its prominent presence in the market. With an impressive track record and a reputation that precedes it, this cutting-edge coating system has achieved a remarkable feat by successfully clinching four new agreements for re-lining chemical tankers in ten days. This underscores the coating system’s exceptional performance and highlights its burgeoning popularity within the region’s maritime sector.
As a testament to its unparalleled efficacy, the MarineLINE® Coating System has firmly positioned itself as a dominant force within Turkey’s maritime industry. With its advanced technological capabilities and a proven history of delivering outstanding results, the coating system’s ascendancy is palpable. Amidst this backdrop, the recent series of successful deals has further solidified its position, propelling it into the spotlight as the go-to choice for chemical tanker recoating endeavors.
Charm Shipping
Charm Shipping, also recognized as Okanogulllari Shipping has embarked on an ambitious journey to augment the capabilities of its maritime fleet. Their endeavor focuses on the M/T Bomar Vesta (IMO: 9489560), a 2008-built, 6,221 deadweight ton (DWT) vessel. This vessel, a significant asset to their operations, is poised to undergo a transformative process – the recoating process.
At the heart of this transformation lies the cutting-edge technology of MarineLINE®. This system promises a range of unparalleled advantages, reinforcing the vessel’s resilience and utility. MarineLINE® brings to the table superior chemical resistance, thereby safeguarding the vessel’s structural integrity in the face of demanding cargo conditions. The system’s unique attributes include unrestricted compatibility with diverse cargo types, streamlining operations, and enhancing versatility. The promise of simplified cleaning procedures further amplifies efficiency, while MarineLINE®’s durability and resilience extend the vessel’s service life. This system also ensures the safe carriage of methanol, underscoring its adaptability to a wide array of cargo types.
Ares Shipping
Founded in May 2009, Ares Shipping is a prominent and esteemed entity within the chemical tanker industry. The individuals behind its inception, namely Kemal Avci, have masterfully steered the company toward success. At the center of their strategic initiatives is the vessel M/T Imera (IMO: 9458066), an embodiment of modern engineering prowess, constructed in 2011 to accommodate a capacity of 14,391 DWT.
The decision to undergo the recoating process with MarineLINE® is a testament to Ares Shipping’s unwavering commitment to maritime standards and innovative practices. The parallel between their dedication and MarineLINE®’s capabilities is striking, aligning perfectly to bolster vessel performance. This strategic decision is a tangible reflection of Ares Shipping’s unrelenting pursuit of excellence in ship management and operations.
Marinpet Shipping
With a legacy tracing back to its establishment in 1996 by Alaattin Durmaz, and currently under management by Can Durmaz, Marinpet Petrol Denizcilik has remained an influential and pioneering force in tanker management. The vessel M/T AC-D (IMO: 9428437), a 2008 construction with a deadweight tonnage (DWT) of 8,000, is undergoing repair and recoating.
Marinpet’s hallmark lies in its diversified and skilled management team, a critical asset contributing to its niche status in the international market. Their regional focus and comprehensive knowledge of key maritime areas reinforce this niche player status. Their decision to opt for the MarineLINE® Coating System underscores their unrelenting pursuit of excellence. This pursuit is propelled by the remarkable attributes of the coating system, which aligns seamlessly with Marinpet’s commitment to elevated standards and operational efficacy.
Borealis Shipping
Borealis Shipping positions itself for a transformative phase as it transitions from zinc silicate coating to the MarineLINE® Coating System. The vessel M/T Bomar Quest (IMO: 9272735) is at the heart of this transition; a 2003-built, 8,509 DWT vessel is on the cusp of a significant transformation that underscores Borealis Shipping’s commitment to innovation and operational enhancement.
Due to prior successes, Borealis Shipping’s decision to reline its vessels with MarineLINE® carries weight. Their vessels, Bomar Mars (6,200 DWT) and Bomar Ceres (6,100 DWT), already coated with MarineLINE®, have showcased the system’s efficacy in vessel performance improvement. This transition reinforces the system’s proven ability to elevate vessel capabilities and underscores Borealis Shipping’s confidence in MarineLINE®’s potential to redefine operational standards.
The catalyst behind MarineLINE®’s swift success lies in its exceptional performance attributes. From superior chemical resistance to unrestricted cargo compatibility, from streamlined cleaning procedures to an extended service life, the benefits of the coating system are unparalleled. Moreover, the system’s capability to safely transport methanol adds another layer of versatility, making it an indispensable choice for chemical tanker operators.
Furthermore, the coating system’s growing popularity within the region speaks volumes about its efficacy. With each new contract, MarineLINE® strengthens its foothold, cementing its reputation as the coating system of choice among Turkey’s maritime players.
The swift succession of these four recoating deals not only celebrates the present achievements of the MarineLINE® Cargo Tank Coating System but also offers a glimpse into the future of maritime operations within Turkey. As this advanced technology continues to redefine industry standards and elevate vessel performance, it is poised to leave an indelible mark on the country’s maritime landscape. With a trajectory marked by success, MarineLINE®’s journey in Turkey is one that promises continued innovation and transformative change within the maritime sector.
Source: Advanced Polymer Coatings (APC)
Turkey to require P&I documentation for ships carrying petroleum products
Turkey will require a document showing P&I insurance validity for ships carrying petroleum products through the Turkish straits from Feb. 6, as it already does for crude oil ships, the general directorate of maritime affairs said on Thursday.
Oil tankers suffered delays in passing through the Turkish straits in December, with Turkey requiring that vessels provide proof they have insurance covering the duration of their transit through the straits.
Source: Reuters (Reporting by Ezgi Erkoyun; Writing by Daren Butler; Editing by David Goodman )
Talanx expands activities in core market Turkey through intended acquisition and joint venture
Acquisition of 60 percent of Fiba Emeklilik ve Hayat A.Ş (Fiba Pension and Life) by HDI Sigorta A.Ş.
Partnering with Fibabanka, a digitally focused and fast-growing bank in Turkey, by establishing a joint venture for digital non-life insurance
HDI International AG diversifies its portfolio in Turkey through addition of life protection and non-motor as well as increases its presence in bancassurance and embedded insurance leveraging digital capabilities
The Retail International division of the Talanx Group is strengthening its position in its core market Turkey through cooperation agreement with Fiba Group, one of Turkey’s largest corporate groups. HDI Sigorta, a company belonging to HDI International AG, is to acquire 60 percent of Fiba Pension and Life, which specialises in life protection. In addition, HDI Sigorta A.Ş. is partnering with Fibabanka to establish a joint venture for digital non-life insurance with the ultimate purpose of offering a digital platform for all insurance distribution channels. The division is thereby diversifying its portfolio through the addition of life protection and by reinforcing non-motor. Furthermore, it is strengthening its market position in the non-life business, expanding its capabilities in the field of digitalisation and leveraging Fiba Pension and Life’s sales channels through an exclusive bancassurance agreement. The transactions are subject to approval by the relevant supervisory authorities.
“The acquisition of a majority in Fiba Pension and Life and establishment of the digital non-life joint venture present an outstanding opportunity to move ahead with our growth and diversification strategy in Turkey. The life protection and non-motor business will be particularly strengthened by this partnership. With more than three million customers, Fibabanka already has a very strong digital orientation, which we can now leverage with our technical expertise for the benefit of our customers,” comments Dr Wilm Langenbach, the member of the Board of Management of Talanx AG with responsibility for the Retail International division and Chief Executive Officer of HDI International AG.
Christian Müller, the member of HDI International AG’s Management Board responsible for the business in Europe, adds: “In our core market Turkey we are taking a major step forward with this exclusive cooperation. In Fibabanka we are proud to have found an ambitious and digitally focused bank with an extensive reach in Turkey and we are looking forward to a partnership-based collaboration.” By entering into this joint venture with Fibabanka Talanx is reinforcing its position among the top 5 players on the Turkish property and casualty insurance market.
Fiba Group Chairman Murat Özyeğin comments that Fiba Pension and Life has demonstrated many accomplishments in the private pension and life insurance sector over 10 years and states, “We are proud to have created a strong brand, working in a close relationship with all our customers, agencies, and distribution channels. Fiba Pension and Life has reached hundreds of thousands of customers through its pension, life and health insurance products and services and I look forward to its growth under the partnership of Fibabanka and HDI Sigorta, following institutional approvals. With Fibabanka’s new generation digital banking infrastructure and HDI Sigorta’s international experience in the field of insurance, we believe that Fiba Pension and Life’s distribution channels and product range will become even richer.”
“We are very excited to join forces with HDI Sigorta in a new strategic partnership which will unlock many new benefits for our customers,” said Ömer Mert, General Manager and Board Member for Fibabanka. “First and foremost, our customers will benefit from this new joint endeavour with access to broader expertise and an even richer range of insurance products. Fiba Pension and Life has been a trusted provider of leading pension, life insurance and health insurance products for over 10 years under Fiba Group and we are confident that it will continue to serve the needs of our customers with excellence in service, technology and products for many years to come.” Ömer Mert also said: “I am happy to share that we will soon establish a joint venture with HDI Sigorta to create a new digital insurance company, too. Thus, as Fibabanka, we will soon serve our customers in new ways beyond the field of life insurance.”
Fiba Pension and Life was founded in 2012 by Fiba Holding and employs approximately 130 staff. The company is the ninth-largest player on the life insurance side in Turkey, with gross premium of EUR 40 million in 2021 and tenth-largest player in the unit-linked like private pension market in Turkey, with assets under management in amount of EUR 274 million. Fibabanka has been a subsidiary of Fiba Group since 2010.
HDI International AG has been represented on the Turkish market by HDI Sigorta A.Ş. since 2006. HDI Sigorta provides insurance services through more than 700 employees, 13 regional offices and more than 3,000 insurance brokers and agents as well as 15 bank partners. In 2021 the gross premium volume booked by HDI Sigorta totalled EUR 419 million, equivalent to a market share of around 5.5 percent.
Talanx intends to finance the transactions from existing funds. The acquisition of 60 percent of the shares of Fiba Pension and Life is expected to close by the first quarter of 2023, while the establishment of the non-life joint venture with Fibabanka is expected to be completed within the first half of 2023 following the approvals by the relevant supervisory authorities. The parties have agreed not to disclose details of the purchase price for Fiba Pension and Life.
D-Marin Commits To Coastal Cleanups Near Its Marinas In Croatia, Greece And Turkey
D-Marin, a socially-responsible operator of premium yacht marinas, has pledged its commitment to organise beach cleanups near its marinas in Croatia, Greece and Turkey.
Areti Priovolou, Health, Safety and Environment Officer at D-Marin, said: “Care for the environment is both a passion and principle of ours at D-Marin and we have robust environmental and social responsibility policies in place. We have pledged to devote efforts to protect the landscape and wildlife surrounding our marinas and the beach cleanups are a great example of our commitments in action. There is nothing more likely to inspire change than to see in person the vast quantities of rubbish collected from our coastlines.
“We can all play our part to ensure we have cleaner, healthier beaches and oceans for everyone to enjoy, and we encourage our employees, local community, other businesses and environmental groups to join us and support our efforts.”
D-Marin’s beach cleanups have already begun in earnest at some of its marinas, with some 14 cubic metres of rubbish removed from the sea by a team at its Mandalina marina in Croatia. Others are set to take place over the coming weeks. Teams made up of local volunteers, D-Marin staff and in some cases, representatives from local environmental protection associations have helped collect kilos of waste from nearby beaches and seabeds, with even more set to be cleared.
Beach cleanups are an effective way to reduce the amount of pollution that reaches the oceans where it can cause harm to wildlife. They unite communities by providing a shared goal to tackle an issue that impacts everyone. They raise awareness and galvanize people to make sustainable choices in their everyday lives to reduce the amount of waste they produce, recycle wherever possible and help prevent pollution building up in the first place.
The beach cleanups are planned around D-Marin’s Borik, Dalmacija, Mandalina and Tribunj marinas in Croatia, Gouvia, Lefkas and Zea marinas in Greece, and Didim, Göcek and Turgutreis marinas in Turkey.
Willis Towers Watson and Vizyoneks collaborate to drive real-time risk management in Turkey’s competitive market
Willis Towers Watson announced that Vizyoneks is the latest insurance software provider to join its global Radar Live partner programme. Vizyoneks brings extensive knowledge of Turkey’s insurance market needs to Willis Towers Watson’s ecosystem of leading insurance software houses and system integrators.
In Turkey’s highly competitive market, insurers and intermediaries need the functionality for rapid speed to market, accuracy of rate development and significant operational efficiency. Radar Live’s technology delivers these results, equipping insurers with system scalability that has the stability to support hundreds of millions of quotes per year. The software allows prices, rules and adjustments to be easily developed and deployed directly to a rating system, calculated in real time.
Vizyoneks, a leading software provider in the Turkish insurance market, has extensive expertise in developing successful, integrated solutions for some of the leading financial services companies operating in the region. This collaboration with Radar Live will enable insurers to benefit from powerful, accessible, and well-managed predictive modelling and machine learning software.
Öykü Şahverdi, Information Technologies R&D and Regulation Leader, Vizyoneks, said: “Combining Radar Live with our Modular Vizyoneks insurance package, which has rich business features and is integrated end-to-end by a wide reference list, provides the opportunity to produce an integrated solution for our customers’ data analytics and pricing needs.”
Willis Towers Watson’s Radar pricing technology ensures risk factors and customer characteristics that influence damage costs and customer behaviour are examined with greater depth and accuracy, significantly strengthening insurers’ product offerings.
Özay Yarkın, Country Leader, Insurance Consulting and Technology Turkey, Willis Towers Watson, said: “We are delighted that Vizyoneks is joining our global Radar Live programme. This collaboration will further enhance our combined offerings in the industry by providing Vizyoneks customers with easy access to Radar’s highly sophisticated price optimisation tool and a connected, flexible and agile system capable of creating competitive advantage and a greater understanding of the business they write.”
EBRD steps up green financing in Turkey via Garanti BBVA Leasing
EBRD providing $25 million loan to Garanti BBVA Leasing
Financing under TurSEFF III expands local enterprises’ access to climate finance
Catalysing green investments and supporting small businesses
Reconfirming its commitment to supporting Turkey’s green transition, the European Bank for Reconstruction and Development (EBRD) is providing a US$ 25 million loan to Garanti BBVA Leasing for on-lending to eligible companies looking to invest in greater sustainability.
The new financing for the leasing firm follows a previous EBRD loan of TRY 270.5 million (€50 million equivalent) which has been fully utilised, benefiting almost 600 companies. Investments included projects for energy and water efficiency, waste minimisation and generation of renewable energy at small scale.
The new loan is extended under the third phase of the Turkey Sustainable Energy Financing Facility (TurSEFF) backed by technical cooperation funded by the European Union and the Republic of Turkey’s Ministry of Treasury and Finance. The programme provides financing of €400 million to commercial banks and leasing companies for on-lending to private sector small businesses as well as public sector beneficiaries for sustainable energy investments.
In Turkey, the EBRD is a major institutional investor and to date has invested more than €14 billion in various sectors of the economy through 351 projects, with 95 per cent of these in the private sector. Sustainability is at the heart of its work.
Source: EBRD
Aviva completes exit from Turkey
Aviva plc (“Aviva”) announced it has completed the sale of its entire 40% shareholding in the Turkish life insurance and pensions joint venture, AvivaSA Emeklilik ve Hayat AS (“AvivaSA”), to Ageas Insurance International NV.
Aviva received £122 million in cash consideration, which includes a £3 million dividend from AvivaSA received in March 2021.
The sale of Aviva’s shareholding in AvivaSA was announced by Aviva on 24 February 2021.
Update on marine pollution fines in Turkey as of 1 January 2021
Members are advised that, further to the club’s news update on 23 January 2020, and a recent circular by the club’s correspondent, Omur Marine, the levels of pollution fines being applied by environmental authorities in Turkey have been increased by 9.11%.
As of 1 January 2021 the fine rates imposed under article 20 of the Environment Code are as follows:
For pollution caused by tankers discharging petroleum and petroleum derivatives (such as crude oil, fuel products, bilge, sludge, slop, refined product, greasy waste materials etc)
For pollution caused by tankers discharging dirty ballast
For pollution caused by ships and other naval vessels discharging petroleum derivatives (such as bilge, sludge, slop, fuel products, greasy waste materials etc.) or dirty ballast
For pollution caused by tankers, ships and other naval vessels discharging solid waste or domestic wastewater
Members should also note:
Corporate entities
The amounts quoted above will be tripled for ships owned by corporate entities.
Repeat offenders
Fines will be doubled in the event of a repeat offence within three years, and tripled for subsequent offences by the same vessel within three years.
Clean up by the member
If the member cleans up the pollution itself, fines of only 1/3 of the above sums will be imposed.
Payment and security
Fines imposed by Turkish authorities due to alleged pollution must be paid or security must be put up immediately for the full amount, otherwise the ship may be arrested.
If the fine is paid within 30 days, a 1/4 discount will be applicable to the final fine amount.
Please note that club LOUs are not always accepted. IG clubs also have experienced demands for open-ended and anticipatory LOUs for minor pollution incidents in Turkey. The requirement to negotiate any security and/or arrange for the LOU to be translated and/or notarised, can cause delay.
Criminal proceedings
Authorities that detect a pollution incident are under an obligation to report the incident to the Turkish public prosecutor immediately. Subsequently, the public prosecutor will commence a criminal investigation, which is usually followed by criminal proceedings brought against the master of the ship. These proceedings may proceed even if the fine is paid. This can also cause the vessel to be delayed/detained.
In the event of an actual or threatened pollution incident, members are advised to contact the club and/or our local P&I correspondents for immediate assistance.
Source: The Standard Club