Vol.13 – 2007 – No.2 – Journal of the Black Sea / Mediterranean Environment

LATEST MAJOR DEVELOPMENTS IN SHIPPING FINANCE

Latest major developments in shipping finance

E. Cihan Akca

Istanbul University, Institute of Marine Science and Management, Department of Maritime Management, Vefa 34116 Istanbul, TURKEY

Abstract

The ship finance is no more a fixed science than is any other sort of finance. Financial terms, conditions, banks and shipowners become ever more sophisticated. Because shipping is a highly capital intensive industry, with its 32,000 world- wide companies is one of the three most finance intensive industries in the world, about 80 billion dollars per year for financing new buildings alone. The financing of large ocean-going ships are undertaken by banks all over the world, by no means just for owners in their own country. This is so as banks are willing to finance, during boom periods, shipping loans for new buildings but by this way ‘create’ oversupply and thus depress the freight market by their own actions. Therefore, ship values can change by up to 65 percent in a few months. A five year old Panamax bulk carrier, for example, could be purchased for US$ 13.5m and achieve freight rates of US$ 5,500 per day in 1999 while a similar profile vessel was worth US$ 46m and achieved freight rates in excess of US$ 46.000 per day in 2005. For this reason, the shipowner can make, or lose millions of dollars and so can his bankers if things go badly wrong. For these reasons, the principle subject of this study is to examine a significant increase in alternative capital sources in recent years. Debt and equity from the public markets, German KG systems and Islamic finance, can all now be regarded as commonplace in the shipping finance market.

Keywords: Shipping Finance, liberalisation, kommanditgesellschaft, mergers, acquisitions

AIR POLLUTION OF HYDROCARBONS EXHAUSTED FROM VEHICLE IN TUNNELS, BRIDGES OF ISTANBUL AND DETECTION OF 3-NITROPHTHALIC IN SEAWATER NEAR THE SIDE OF BOAT

Air pollution of hydrocarbons exhausted from vehicle in tunnels, bridges of Istanbul and detection of 3-nitrophthalic in seawater near the side of boat

Selin Cumalı, Kasım Cemal Güven

Istanbul University, Institute of Marine Sciences and Management, Vefa, Istanbul ,TURKEY

Abstract

The air pollution due to exhausted gas from vehicles was studied in tunnels, bridges in Istanbul city and the contribution of exhausted gas from boat to the seawater in Golden Horn. The component of hydrocarbons of fuels and exhausted gas from vehicles was also compared. The gas samples were collected in tubes containing Tenax GR or activated charcoal adsorbent. They were extracted with dichloro-methane and analysis performed by UVF, GC/MS and HPLC. The petroleum hydrocarbon amounts in gas exhausted were from diesel car II 89.40 µg/m³, from car I 13.43 µg/m³, from normal gasoline car 41.43 µg/m³ and from super gasoline car 32.10 µg/m³. The highest hydrocarbon pollution was found in Haşim İşcan tunnel and hydrocarbon amount ranged as 5.30-11.00 µg/m³. During the analysis over 22 aliphatic, 23 aromatic hydrocarbon and nicotine were identified in Haşim İşcan tunnel. In this area carcinogenic, aromatic hydrocarbons, benzene derivatives and toluene were detected. The highest hydrocarbon pollution was found on Atatürk and Galata bridges as 9.65 µg/m³ and 8.36 µg/m³ respectively. For the first time a new nitro-derivate, 3-nitrophthalic acid was detected in seawater near the exhaust pipe of boat and it was proved by GC/MS and HPLC analyses. The adsorbent capacity of Tenax GR with charcoal compared and Tenax GR adsorbed better than charcoal.

Keywords: Istanbul city, tunnels, bridges, hydrocarbon pollution, seawater, 3-nitrophthalic acid

THE EFFECT OF LIGULA INTESTINALIS L. PLEROCERCOID ON THE GROWTH OF BITTERLING (RHODEUS AMARUS BLOCH, 1782)

The effect of Ligula intestinalis L. plerocercoid on the growth of bitterling (Rhodeus amarus Bloch, 1782)

Ahmet Akmirza

Istanbul University, Faculty of Aquatic products, Department of Aquaculture and Diseases 34470 Laleli, Istanbul, TURKEY

Abstract

274 bitterlings (Rhodeus amarus) were parasitologically investigated in Sapanca Lake in October and November 2004. It was seen that the 70 of 169 fish in October and 27 of 105 fish in November were infected by Ligula intestinalis plerocercoids. The average weight of the fish infected by Ligula intestinalis plerocercoids was 2.54 g while this value was 2.98 g in uninfected fish. These results show that one Ligula intestinalis plerocercoid decreases the fish gigantism in the ratio of 14.77 percent.

Keywords: Ligula intestinalis, plerocercoid, bitterling, host gigantism

HEAVY METALS IN SHALLOW SEDIMENTS FROM THE BLACK SEA, MARMARA SEA AND AEGEAN SEA REGIONS OF TURKEY

Heavy metals in shallow sediments from the Black Sea, Marmara Sea and Aegean Sea regions of Turkey

N. Balkis , S. Topcuoglu, K. C. Güven, B. Öztürk, B. Topaloglu, Ç. Kirbasoglu, A. Aksu

Istanbul University, Institute of Marine Sciences and Management, Müsküle Sokak 1, 34119 Vefa, Istanbul, TURKEY
Department of Radiobiology, Çekmece Nuclear Research and Training Center, P. O. Box 1, Atatürk Airport 34149 Istanbul,TURKEY
Istanbul University, Faculty of fisheries, Laleli, Istanbul, TURKEY

Abstract

In this work the total Cd, Co, Cr, Ni, Zn, Fe, Mn, Pb and Cu contents is measured in shallow sediments from the Bosphorus, Gökova, Marmara and Black Sea stations are measured. Generally Cd and Pb concentrations are lower than the detection limit (0.01µg/L)of the method in Yesilirmak, Kizilirmak and Sakarya samples whereas Co, Cr, Ni, Zn, Fe and Mn contents are higher than the shale average. Cd is rather high in Bosphorus and Marmara sediments and Cd and Mn contents are rather high in Gökova sediments compared with shale average.

Keywords: Heavy metal, sediment, Black Sea, Marmara Sea

THE ORGANIC MATTER OF SILT AGGREGATES ON THE BREAKWATERS IN THE BAYS OF SEVASTOPOL, BLACK SEA

The organic matter of silt aggregates on the breakwaters in the Bays of Sevastopol, Black Sea

T.O. Mironova, I.P. Muravjova

Institute of Biology of the Southern Seas, National Academy of Sciences of Ukraine, Sevastopol, Nakhimov av.,2

Abstract

For the first time the organic substance of silts settling on the underwater base of breakwaters in Sevastopol and in Kamyshovaya bays (southwestern Crimea) was studied. On the eastern breakwater the content of total organic matter (TOM) varied from 14 to 36% (23% on the average) of the total silt mass and on the southern breakwater from 18 to 70% (38% on the average). Estimated on the inner and the outer side of the eastern breakwater the content of TOM is almost the same; on the outer side of the southern breakwater it is greater compared with the inner side that is probably due to the nearby sewage discharge outlet. Lipids are the largest fraction in the TOM on the southern breakwater and proteins on the eastern breakwater (43-44% and 4*5-37%, respectively).

Keywords: Total organic matter, silt aggregates, breakwaters, southwestern Crimea