A group of 41 oil majors will make their tanker inspection reports available to port examiners in Europe. They also aim to ensure higher standards for their shared reporting system as part of a raft of initiatives to ensure greater tanker safety in the wake of the Erika incident. SIRE (ship inspection reports) do not pass or fail vessels on structural issues but concern operating standards. The Paris MOU is Europe's agreement by which unsafe ships are detained by individual countries' port-based inspectors until repaired. But it is expected that the European Union to increase sanctions on oil companies as ship charterers in the wake of the pollution affecting France's coast from the TotalFina-chartered tanker Erika which broke up in December OCIMF intends to strengthen its report program to overcome criticism by some oil companies that were not convinced their inspection standards were matched by others. The organization will introduce a system of accreditation by examination for its inspectors by the end of the year. The vessel inspection program is also being extended to cover smaller vessels that can operate either as petroleum or chemical carriers. Up to 300 such ships operating in northern Europe and the Mediterranean would be affected.
A surge in the volume of fixed premium business managed by the UK P&I Club and the proportion accounted for by time chartering has highlighted the growth and complexity of insuring these types of shipping operation. The financial results for the year ended February 20th 2007, discussed by the UK Club’s directors earlier this month (May), revealed that $65 million of the Club’s total gross premium income ($358 million) was fixed premium business----and that two-thirds of this came from
Aries Maritime Transport Limited announced an update on its fleet deployment. The Bora, a 2000-built double-hull products tanker, returned to service last week following the completion of works, which included dry-docking repairs and upgrades, as previously announced. The vessel is being deployed in the spot market, while period charter opportunities are explored. The cost of repairs is expected to total approximately $1.4m.
There has been a marked increase in period contracts since January 2000. Not only has period chartering activity increased, but the length of the periods has also increased and there have again been several contracts above one-year. It is also interesting to see that it is the trader VITOL that has been one of the most active time charterers with 11 contracts, of six months and above, recorded since the beginning of 2000. We have recorded 8 contracts for another trader, Alpine
International Transport Intermediaries Club (ITIC) says that shipbrokers run the risk of exposure to substantial liabilities as a result of inadequate monitoring of their email communications. In the latest issue of its Claims Review, ITIC cites the case of a shipbroker acting for a shipowner which had a demurrage claim against charterers. The charter party included a 60-day notification period and a 90-day time-bar for documented claims
ITIC has warned shipbrokers that they face the risk of serious financial loss if they fail to ensure that all parties to fixture agreements are in possession of full, confirmed information prior to the conclusion of negotiations. In the latest issue of its Claims Review, ITIC cites the case of a shipboker asked by a charterer to increase the volume of cargo already booked under a contract of affreightment
Capesize rates firmed again worldwide but brokers said charterers were increasingly conducting business under the counter. Panamax rates were also firmer east of Suez with both Chinese and Japanese charterers active in the Indian Ocean and the Pacific, while Atlantic handysize conditions remained in the doldrums, they added. The Baltic Dry Index (BDI) rose 10 points to 1,491, the Baltic panamax Index gained one point to 1,419, The Baltic Capesize Index jumped up 27 points to 2
SINGAPORE-based Siba Ships Asia is has taken delivery of its first two ships, the sister handymax bulk carriers MV Fomalhaut and MV Eltanin, ex Brave Imperial and Brave SV. The geared 46,700 dwt 1999-built vessels have both been reflagged to Singapore and will go on charter to a major charterer for a two year period. "These two modern ships boost our presence in the bulk market, which is especially strong in Asia for flexible handymaxes like these," explains
A lesson in admiralty law was provided by the U.S. Court of Appeals for the Fifth Circuit when it ruled that a maritime lien for breach of a charter party attaches when the vessel is placed at the charterer's disposal. In the instant case, a vessel owner entered into a time charter and accordingly delivered the vessel. The vessel was then sold to a third party (subject to the time charter) and the new owner obtained a mortgage loan on the vessel
Gulf Harbor Shipping, L.L.C., a full service tramp, tanker and project cargo shipping agency has opened a new office located in the World Trade Center, suite 2101, No. 2 Canal Street, New Orleans, La., 70130. Founded by a former Executive and Managers of a major shipping agency company, Gulf Harbor will target charterers and ship owners needing customized representation on the lower Mississippi River and the U.S. Gulf Coast.
Owners resist charterers moves to force rates under W50; West Africa cargo volumes remain steady. Rates for very large crude carriers (VLCCs) on key Asian routes will face further pressure next week even as owners resist attempts to push rates lower, brokers said.
Diana Containerships Inc. announces agreement to acquire two Panamax container vessels Through two separate wholly-owned subsidiaries, Diana Containerships Inc. has signed two Memoranda of Agreement to purchase two Panamax container vessels from an unaffiliated third party.
"Our first three months of Emission Control Area operation have run without a hitch," said Carisbrooke Shipping CEO Robert Wester. "We put this down to careful preparation supported by the skill and diligence of our sea staff."
Fuel saving measures can have a negative effect on the lashing forces on the containers, according to Maritime London member BMT Surveys. The company's risk & quality manager and marine surveyor, Olivier van der Kruijs, bases this warning on audits on more than 100 container vessels
With innovation in its Norwegian DNA, Uksnoy Shipping took a chemical tanker and made it into an Offshore Service Vessel with an innovative propulsion system. The conversion of a Turkish-made chemical tanker and its retrofitting with a promising new energy-saving propulsion system in 2013
A new BIMCO clause provides a simple, practical and commercial solution focusing on the basic obligations and responsibilities of owners and charterers when dealing with the Asian Gypsy Moth (AGM). The spread by ships of AGM poses a severe risk to agricultural resources in many parts of
Shanghai Waigaoqiao Shipbuilding (SWS), a yard owned by the industrial conglomerate China State Shipbuilding Corp (CSSC), has secured a US$312million loan from the Export-Import Bank of China to build three 18,000 teu containerships.
Sino-Global Shipping America, Ltd. a shipping agency, logistics and ship management services company, today announced that it has entered into a Memorandum of Understanding (the "MOU"), between the Company and Rong Yao International Shipping Limited
Mitsui O.S.K. Lines, Ltd. signed a contract with Mitsui & Co., Ltd. today (January 29) to charter a new 177,000m3 liquefied natural gas (LNG) carrier. This is the third newbuilding vessel chartered by Mitsui & Co., following a contract signed last September 26 for two carriers
The Hinode’s 2nd Conference on “Outlook for India’s Seaborne Dry Bulk Trade” held at the Hotel Vivanta by Taj President saw a significant gathering of shipowners, charterers, agents, ship managers, exporters, importers, bankers
VOS Pace, the first of six PX121-type platform supply vessels designed by ULSTEIN, was delivered to Netherlands based shipowner Vroon Offshore Services on February 5, 2015. The vessel, built at China’s Cosco Guangdong Shipyard
With the amount of LNG traded on the spot market continuing to grow, the Baltic and International Maritime Council (BIMCO) is developing a new contract for the transportation of LNG under voyage charter terms. This will add additional flexibility to the spot market and give
NewLead Holdings Ltd. announced today that it has entered into its first Contract of Affreightment for one of its bitumen tankers vessels, the Katerina L, for the transportation, within a ten month period, of a minimum of 31,000 tons of bitumen over ten voyages, or
NewLead Holdings Ltd. announced today that it has entered into a Contract of Affreightment for one of its dry bulk vessels, the Panamax Newlead Markela, for the transportation, anticipated to be completed within a twelve month period, of approximately 704
A federal court ruled on Wednesday that BP well site leaders on the Deepwater Horizon oil rig cannot be charged with seaman's manslaughter in the deaths of eleven workers that died during the 2010 rig explosion because they were not seamen.