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Maritime Contracts

Contracts between vessel owners and charterers concerning the water transportation of goods are technically known in admiralty law as "contracts of affreightment". The charterer agrees to pay a freight charge for cargo space. The voyage, amount of cargo space, and time of delivery will all be covered by the contract. One common type of contract is the “voyage” charter. This type of charter usually concerns the hire of a vessel ‘s entire cargo space for one or more specific voyages.

If the charterer does not require the use of an entire ship, the agreement will specify what portion of the cargo is used and is referred to as a "space" charter. With these types of charter, the master (or agent) will give the shipper a bill of lading, to document the title to the goods and serve as receipt. The bill of lading is not in itself a charter or contract; the voyage charter is considered to be the governing carriage contract.

Another very common arrangement is known as a "time" charter. A time charter is similar to a voyage charter in that the charterer may direct the movements and cargoes carried during an agreed period of time and under certain limitations. Under a time charter, the shipowner is usually responsible for employing the master and crew for the specified duration.

Alternatively, the charterer may contract use of an entire ship, taking possession and control of the entire vessel for an agreed-upon period of time. This kind of contract is referred to as "a demise of the ship" or "bareboat charter" and effectively transfers ship-owner status for a very specific time. The contractor will be responsible for crew and personnel, repairs and supplies, and other duties of a ship-owner. This contract is much less common than contracts of affreightment.



Coastal Marine Equipment on LCS

Coastal Marine Equipment is continuing its success in supplying marine deck equipment for government and military projects with the latest being equipment for Austal USA’s Littoral Combat Ships (LCS) program. This is in conjunction with Austals’ Joint High Speed Vessels (JHSV) program and Bollinger Shipyard’s Fast Response Cutters (FRC) program which are propelling Coastal Marine to be the leading deck equipment manufacturer for our military


Drewry Expands Container Freight Rate Benchmarking

Drewry Maritime Research, the global leader in freight rate benchmarking, has expanded its flagship Container Freight Rate Insight publication and now provides freight rate benchmarks on 550 international trade routes. Published monthly, the report provides all-in spot rates on all the key shipping routes of the world, including both headhaul and backhaul trades


Keppel Shipyard Secures S$142 Million Contracts

Keppel Shipyard Ltd (Keppel Shipyard) has secured three conversion contracts worth a total of S$142 million. These conversion contracts are to convert a Liquefied Natural Gas (LNG) Carrier to a Floating Storage Unit (FSU), a VLCC tanker to a Floating Storage and Offloading (FSO) unit as well as a tanker to a Floating Production Storage and Offloading (FPSO) unit.


Scorpio Tankers Announces Financing for Four Ships

Scorpio Tankers Inc. signed a committed term sheet for a $92m credit facility with Credit Agricole Corporate and Investment Bank and Skandinaviska Enskilda Banken AB to partially finance four of the five newbuilding 52,000 DWT product tankers (MRs) that the Company has contracted to be built at the Hyundai Mipo Dockyard in South Korea. The Company also announced amendments to the financial covenants in its existing credit facilities.


Diana Shipping Announces Time Charter Contracts

Diana Shipping Inc. (NYSE:DSX) entered into two time charter contracts with EDF Trading Limited, London, for its two Newcastlemax dry bulk carriers, the m/v Los Angeles and the m/v Philadelphia, which are currently under construction. Both charters will be at a gross rate of US$18,000 per day, minus a 5% commission paid to third parties, for a minimum 46 to a maximum 50 month period for the Los Angeles and a minimum 44 to a maximum 50 month period for the Philadelphia


Gibdock Nets Another Offshore Client

Gibdock Nets Another Offshore Client

Gibraltar-based shiprepair yard Gibdock has added another name to its increasingly long list of clients in the offshore sector. In September the yard drydocked the 3000grt Boa Galatea, an offshore survey vessel, for Norway’s Boa Offshore.

 

This is the first time that the family-owned Boa Offshore business, which operates a fleet of over 40 offshore vessels, has used Gibdock, and comes hard on the heels of other offshore vessel contracts handled this year by the yard for Solstad, DOF and others.


MSG Contracts with Imtech to Cover ECDIS Training

MSG Contracts with Imtech to Cover ECDIS Training

MSG MarineServe GmbH contracts with Imtech Marine to cover their ECDIS training requirements worldwide.

 

MSG is pleased to announce that it has reached agreement with Imtech Marine for the provision of ECDIS training services worldwide.   Imtech had already reached agreement with MSG’s sister company, Safebridge, in March 2011 to entrust them with the creation of an E-learning training platform linked to their own ECDIS software for internet delivery;  this new agreement now entrusts its complete equipment training obligations to MSG and its worldwide support organization, ETC (ECDIS Training Consortium)


Keel Marine Selects Paramarine Ship Design Software

Keel Marine Selects Paramarine Ship Design Software

Keel Marine selects Paramarine as their ship design software platform.

Paramarine advanced marine design software, developed by QinetiQ GRC, has been selected by Keel Marine to replace their in-house developed ship design software. For nearly fifty years Keel Marine, who are based in the UK, has delivered naval architecture and marine engineering services globally to an impressive range of commercial and government entities. 

 

Keel Marine has established a reputation for excellence and high standards, providing clients with a comprehensive range of design


Kromhout Appointed Partner by AKD

Kromhout Appointed Partner by AKD

Netherlands law firm AKD has appointed Jan Kromhout as a partner in its shipping and offshore team.Jan began his career in Rotterdam with the law firm Nauta Dutilh. In 2005 he joined the leading operator in the international market for heavy marine transport, where he became head of the legal department and where he also gained extensive experience of arranging contracts involving the oil and gas industry Jan works closely with shipping companies in drawing up transport contracts, arranging charter  parties, co-operation agreements, shipbuilding contracts and vessel financing arrangements


Offshore O&G Fuels Workboat Growth in Middle East

Offshore O&G Fuels Workboat Growth in Middle East

Middle East Workboats 2011 opens on optimistic note - 58 new OSVs required to support recent oil and gas contracts worth $10b  The maritime commercial climate in the Middle East is in buoyant mood, especially for the workboats sector, as investment in the offshore oil and gas industry spurs demand for offshore support vessels (OSVs), according to industry experts speaking at Middle East Workboats 2011. The three-day conference and exhibition was officially opened by Awaidha Murshed Al Murar, Director of Shared Services, ADNOC, along with Khalifa M


 
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