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
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
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
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
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.
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.
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
Russia’s largest shipping company is continuing to develop its potential in the LNG transportation segment by entering into a new long-term agreement with Royal Dutch Shell. On December 16, a naming ceremony was held for the LNG carrier SCF Melampus
INTERTANKO’s documentary committee has launched bunker surcharge clauses for Emission Control Areas (ECA). Rising bunker prices due to rising oil prices and volatility in global politics can have a dramatic effect on trade as they fluctuate not just day to day, but also port to port
P&I Insurance Seminar for Owners and Charterers held in Mumbai DGS Marine, a global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I Facility, has advised Indian shipowners to consider the benefits of fixed premium P&I cover.
Otto Marine Limited sold an Anchor Handling Tug Supply Vessel to a renowned unrelated third party for US$100 million. DNV classed and Norwegian-designed, the VS491 21,000 bhp AHTS is a hybrid propulsion diesel electric driven vessel with dynamic positioning 2 (DP2) technology
An oil tanker and a bulk carrier collided off Singapore on Friday causing some crude oil spillage, the Maritime Port Authority said. A Libyan-registered oil tanker Alyarmouk collided with the Singapore-registered bulk carrier Sinar Kapuas about 11 nautical miles north-east of Pedra Branca
CSAV Tyndall is an 8600 TEU containership built by Daewoo Mangalia Heavy Industries (DMHI) and is part of a series of four containerships delivered to Zodiac Maritime Agencies Ltd. (UK) between 2013 and beginning of 2014. These projects are the biggest containerships ever built in the Black Sea
Shipping firms have paid millions of dollars into U.S. accounts to prevent their vessels from being detained due to non-payment of bills for fuel supplied by the bankrupt OW Bunker, indicating the impact from the collapse of the Danish firm was spreading.
Höegh Jacksonville was delivered by Daewoo-Mangalia Heavy Industries S.A. (DMHI), the first from a series of two 6,500 units Pure Car Truck Carrier (PCTC). This vessel is owned by Ocean Yield from Norway while the charterer is Höegh Autoliners AS
Hinode Maritime Conferences have announced their "2nd Annual Conference on the Outlook for India's Seaborne Dry Bulk Trade". Considered the largest conference in India on Dry Bulk Trade to be held on January 22, 2015 at Hotel Vivanta by Taj-President Mumbai
A new clause for dry cargo voyage charters is set to plug the gap in contracts that do not address ship-to-ship transfer (STST) cargo operations. STST cargo operations are a common feature in most tanker voyage charters, but rarely form part of dry cargo standard forms.
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