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.
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.
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
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 Liberian Maritime Administration is to introduce a proposal to the meeting of the IMO Marine Environmental Protection Committee (MEPC70) in London on 24 October to allow certain ships additional time beyond 2020 to install adequate ballast water management systems as required under the Ballast
ICS Secretary General Peter Hinchliffe reaches out to the Canadian Transport Minister in a letter this week. The text of that letter follows below: Dear Minister Garneau, I am writing on behalf of the International Chamber of Shipping (ICS) which is the principal global trade
European Shipping Week has been granted the European Parliament’s official patronage by its President, Mr Martin Schultz. Commenting on European Shipping Week, Mr Schultz said his institution appreciated the opportunity for open dialogue between policy makers and representatives of the
Mitsui O.S.K. Lines, Ltd. today announced that its “MOL Body FIT Exercise” was awarded the “The Best Practice Award of Seafarers Onboard Safety, 2016 MLIT” from the Ministry of Land, Infrastructure, Transport and Tourism (MLIT)
Some 2,000 government, industry, research and civil society representatives gathered for the Arctic Circle Assembly held October 7-9 in Reykjavik, where the group of international participants engaged in dialogue and cooperation centering on the future of the Arctic.
The Republic of the Marshall Islands (RMI) Registry has attained status as the world's largest tanker fleet following the addition of tonnage from markets in Greece, the U.S. and Asia over the summer. The RMI flagged tanker fleet stands at 44.6 million gross tons (GT).
So far this year 147 vessels have been sent to the shipbreakers for their steel to be recycled, Telegraph reported quoting new data from Braemar ACM shows. A record number of container ships have been scrapped this year as owners battle a perfect storm of vast overcapacity and
The future of European shipping policy was debated on Wednesday in a seminar held in Valletta, Malta, a few days after the European Commission published the implementation report of its mid-term Review of EU Maritime Transport Policy.
BIMCO has published the next in its series of reports looking at the “road to recovery” for dry bulk shipping beyond the current market difficulties. The foundation for the new report follows the conclusion of BIMCO’s previous analysis – that due to the
BIMCO has today published the next in its series of reports looking at the “road to recovery” for dry bulk shipping beyond the current market difficulties. The foundation for the new report follows the conclusion of BIMCO’s previous analysis – that due to the severity of
The board of directors of the Chamber of Marine Commerce has appointed Raymond Johnston as interim President, effective October 1, 2016. Johnston will oversee the implementation of the merger between the Chamber of Marine Commerce and the Canadian Shipowners Association (CSA) announced
Is the Limitation of Liability Act Still Relevant? In the aftermath of the El Faro disaster, that vessel’s owners exercised their right to file a petition to limit their liability in accordance with the U.S. Shipowner’s Limitation of Liability Act, 46 USC §30501, et seq
The Chamber of Marine Commerce will assume the assets, liabilities and staff of the Canadian Shipowners Association (CSA) following a new merger agreement that aims to create a united voice for commercial shipping in Canada and the United States.
Bad ship design can make life onboard difficult and uncomfortable, cause accidents and even kill. Naval architects have a huge responsibility, but few of them have direct experience of how their designs affect those who use them. Improving Ship Operational Design
DNV GL has awarded Vard Engineering Brevik AS with an Approval in Principle (AiP) for their new 6,500 m3 bunker vessel design. The design has been evaluated for compliance with the DNV GL Gas Bunker rules, the applicable Gas Carrier rules as well as the IGC Code's 2016 edition.