European Shipowners may increase freight rates or renegotiate bunker clauses in the coming year in order to capitalise on lower crude oil prices and consolidate the recovery seen in 2015, reports ICIS. Bunker fuel prices came down significantly amid lower crude oil prices but some shipowners have been unable to take advantage of this because of the bunker clauses they agreed to. A bunker clause is an agreement between charterer and shipowner whereby the charterer pays for fuel at the port and then the shipowner reimburses the charterer for the fuel left in the vessel on its return, both at the current price of the ports involved. “Bunkers are down 50% but I don’t think that the bunker clauses have been covering that so for sure owners will try to renegotiate them so they don’t have to pay [as much]. At the same time, even though freights have dropped a bit, bunker fuel has dropped more so [owners] are better off than they were last year and posting strong results,” one ship operator said. “I think they’ll try and increase earnings next year  by accepting a lower bunker clause or by pushing freights up,” a European market sources said.
In the wake of an independent report recommending the Netherlands government to provide Dutch shipowners with better levels of protection against piracy, including the hiring of armed guards, Netherlands law firm AKD says that shipowners who directly hire armed personnel themselves could face criminal prosecution. The so-called De Wijckerslooth Committee report was designed to assess the desirability and possibility of deploying private sector armed security to help protect
The ICC reported that shipowners are facing new dangers from criminal gangs making spurious oil fraud claims. The “victims”/fraudsters try to extort money from owners by bringing action against them for failing to deliver cargoes of oil they allegedly own. Such scams were previously confined to West Africa, ICC said, but now appear to have spread to other countries, as a case reported recently to the ICC International Maritime Bureau (IMB) shows.
Gray Page, a maritime intelligence, investigation and crisis management company, advised that the IMO's Maritime Safety Committee’s (MSC) recently-approved interim guidance on the employment of privately-contracted armed security personnel (PCASP) to combat piracy underlines the requirement for independent vetting of private armed maritime security providers (AMSP). The MSC guidance, issued in May, incorporates recommendations for flag States confirming that it is the responsibility of
DNV now offers shipowners the support they need to make newbuilds and existing vessels LNG ready with class approved designs, ready for later, simple retrofit of LNG technology. The service enables shipowners to make smart choices and minimal investments now in readiness for when LNG bunkering becomes widely available. Shipowners are supported through all stages of the decision-making process as they prepare to meet the IMO air emission regulations entering into force from 2015
Martek Marine’s leasing package offers an option to adopt ECDIS early, which they said can help shipowners benefit from increased safety and lower costs. ECDIS product specialist Bentley Strafford-Stephenson said, “DNV research has shown that deploying ECDIS may reduce grounding frequency by at least 30%. Grounding is the third most frequent accident involving ships larger than 100GT and the fourth highest contributor to marine fatalities at 12%
The Council of European and Japanese Shipowners’ Associations (CENSA) has been merged into a newly formed Shipping Policy Committee of the International Chamber of Shipping (ICS) effective January 1, 2002. CENSA has provided a platform for national shipowners’ associations in Europe and Japan to promote open and fair international shipping markets, and multilateral rather than unilateral regulation with regard to commercial shipping policy.
More than 200 stakeholders from the maritime world gathered at the Culture Yard in Elsinore, Denmark, where the World Maritime University, in collaboration with the Danish Shipowners' Association, hosted a major international conference focusing on maritime CSR (Corporate Social Responsibility). The conference was part of the thrust to formulate maritime CSR policies and to implement them by self-regulation, an area in which analysts consider the shipping industry has been slow to adopt
Viking Life-Saving Equipment and E.R. Schiffahrt have teamed up to design a fully customized, global servicing arrangement based on Viking’s Shipowner Agreements. The contract covers liferafts, lifeboats, immersion suits, lifejackets and marine fire systems and equipment such as fire extinguishers on more than 30 vessels of the shipowner’s fleet. The plan is for Viking to manage not just service notifications, but also the coordination of all servicing.
At a ceremony held in the Villa Doria D’Angri at Posillipo in Naples presided over by Professor Gennaro Ferrara rector of the University Studi of Naples “ Parthenope” shipowner Gianluigi Aponte was awarded an honoury degree in Maritime Economics and Transport.
The keel laying ceremony of "Seabourn Ovation", the second of two ultra-luxury cruise ships that Fincantieri is building for Seabourn Cruise Line, brand of Carnival Corporation, took place today, in the presence of the Italian Minister of Defence Roberta Pinotti
From 1 January 2020, a new global sulphur cap on marine fuels will come into effect which will turn the whole bunker industry upside down; and World Fuel Services is urging the shipping, bunkering and energy sectors to work together to meet this new challenge.
The European Community Shipowners’ Associations (ECSA) welcomes the European Council’s decision of 25 November to extend the mandate of Atalanta, the European Union’s counter-piracy operation along the East African coast.
Shipping is a truly global industry with owners based all over the world, says Clarksons Research. Interestingly, ownership is also very fragmented with over 90,000 vessels owned by more than 24,000 shipowners, with an average of around four ships per owner.
The International Organization for Standardization (ISO) has now published the long-awaited ISO 19030, a new standard conceived to measure changes in ship-specific hull and propeller performance. According to Jotun, which has led the industry in the standard’s development
High scheduled deliveries and low demolition prospects will drive unwanted fleet growth of very large gas carriers (VLGC) in 2017 putting additional pressure on freight rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.
African governments and businesses are important partners of European shipping companies and the region has become one of the most promising global growth markets. The “blue” economy offers a lot of opportunities
In a landmark decision, BIMCO cemented its move into the domain of ship financing with the Documentary Committee’s approval of a standard term sheet for use in ship financing transactions on 17 November 2016. The term sheet has been drafted as a short and simple standard for
Work to implement International Maritime Organization (IMO)’s Ballast Water Management (BWM) Convention in developing countries is underway in Zagreb, Croatia this week, with two training activities under IMO’s GloBallast project.
The Cruise Lines International Association Europe (CLIA Europe) and the European Community Shipowners’ Associations (ECSA) welcome the revision of the European directive on port reception facilities for ship-generated waste and cargo residues.
Training acts not only as a career enhancer, but also plays an essential role in the modernisation of the shipping industry as a whole, said Esben Poulsson, Chairman of the International Chamber of Shipping (ICS) today, as he delivered the keynote speech at this year’s Crew Connect
On Saturday a double naming ceremony took place at Havyard Ship Technology, for the two icebreaking offshore vessels delivered to the Russian shipping company Femco. Femco Group is today the only privately-owned company in Russia specialising in operations of anchor handling vessels
European Community Shipowners’ Associations (ECSA) facilitated a debriefing in the European Parliament this morning on the latest decisions of the International Maritime Organisation (IMO) regarding global regulation of greenhouse gas emissions of shipping.
Softening seaborne trade and rising fleet growth are expected to depress chemical shipping freight rates over the next few years, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry.
The latest release of DNV GL’s fleet performance management solution ECO Insight adds a range of new analytical and reporting features to the market leading portal. The new features enable shipowners to manage more vessel data than ever