BIMCO and the Global Shipping Forum have now launched a new standard contract – named “SERVICECON” – which simplifies and harmonises terms and conditions for container volume contracts between shippers and carriers. The new agreement is designed to meet the contractual needs of small to medium sized shippers, which, despite the large number and global value of the shipments they transport, often lack the legal resources to develop their own agreements with carriers. Following a two year period of discussions between carrier and shipper representatives, the BIMCO/GSF SERVICECON Standard Service Contract has been developed to provide a basis for container volume agreements. It provides a comprehensive starting point for negotiations and helps to smooth and speed up the contractual process. Shippers and carriers can amend the contract to suit their individual commercial needs, providing the flexibility needed for making commercial agreements. Grant Hunter, Chief Officer Legal and Contractual Affairs at BIMCO, said, “We are delighted to have worked together with GSF to produce this new standard service agreement that will benefit the industry by its simple wording and fair reflection of the interests of shippers and carriers. “It has been designed to be used as a framework container volume service-level agreement for the liner trades – and to be adaptable for commercial parties’ individual needs and
The U.S. Census Bureau issued a Notice of Proposed Rulemaking (NPRM) that would, if adopted, require shippers who export items identified on the Commerce Department Commerce Control List (CCL) or the State Department United States Munitions List (USML) to file the Shipper's Export Declaration (SED) electronically via the Automated Export System (AES)/AESDirect. Comments on this proposal must be submitted by December 9, 2002.
MarAd Administration will present the Shipper Award to the Fluor Corporation of Aliso Viejo, Calif, for their continuing support of the United States Merchant Marine. Acting Deputy Maritime Administrator Julie Nelson will present the award in a ceremony hosted by the Propeller Club of the United States at the Washington Navy Yard. Fluor has moved more than 32,000 metric tons of Iraq reconstruction cargoes and maintained a continuous supply chain through Iraqi ports.
The Research and Special Programs Administration (RSPA) of the U.S. Department of Transportation has published a Notice of Proposed Rulemaking (NPRM) proposing new requirements to enhance security of hazardous material (HAZMAT) transported in commerce. Shipping papers would be required to include the name and address of the consignor and consignee and the shipper's DOT HAZMAT Registration Number, if applicable. Shippers and carriers of certain highly hazardous materials would be required to
An INTTRA, SeaIntel, collaboration reports 'On-Time Performance & Schedule Reliability' of the ocean shipping industry INTTRA, an active worldwide network for ocean shipping, and SeaIntel, container shipping market analysts, announce the availability of the initial publication of the industry’s only shipping reliability report that combines on-time performance with schedule reliability measures. “For the first time shippers can now analyze actual container delivery time
A Federal Energy Regulatory Commission judge annulled committed shipper rates on the Cushing-to-Texas Seaway pipeline on Friday, despite objections from energy companies who say it could jeopardize billions in infrastructure investment. Administrative law Judge Karen Johnson upheld a ruling she made last September, saying the contracts that Seaway Crude Oil Pipeline Company LLC negotiated with committed shippers must be "disturbed" because of the
The shipping industry is in a better position to cope with soaring fuel prices because of growth in trade as Asia recovers economic crisis, analysts said. The price of bunker fuel, which typically makes up about five percent of a shippers' total operating costs, has over the past six months doubled to $140 per ton. The spoils from improved conditions have not been evenly shared within the industry, with tanker owners the worst hit
An earlier forecast that Arctic shipping would face problems from severe weather has not been realized, experts now see no major disruptions to winter shipping. Thickening of ice, which had been officially forecast to start this year 10 to 15 days earlier than normal, did not happen, sources said, adding that it is now believed that shippers will see easier winter conditions in that region.
According to reports, dockworkers agreed to federal mediation Wednesday in the labor dispute with shippers as political pressure mounted in Washington, D.C. In the first breakthrough since shippers locked longshoremen out of West Coast docks Friday, the International Longshore and Warehouse Union agreed to have federal mediator Peter Hurtgen meet with both sides to talk about the thorny subject of technology. The announcement came as California's senior U.S
Dr. Jim Giermanski (Chairman, Powers Global Holdings, Inc.) and Chris Giermanski (Director of International Operations, Transportation Services, Inc.) weigh in on the balance between facilitating trade and guaranteeing cargo identity and quantity - and what CPB needs to do to achieve just that. Automated Commercial Environment (ACE) Modernizing the flow of Customs data and improving security began many years ago
France's Bollore-led consortium has been awarded the contract to develop and operate a container terminal in Cameroon's deep-water port of Kribi, says a report in Reuters. Bollore's consortium included France's CMA CGM, the world's third-largest container shipper.
The U.S. Department of Transportation’s Maritime Administration (MARAD) today celebrated the launch of field trials for the first prototype hydrogen fuel cell unit to power onboard refrigerated containers. MARAD, through a cooperative agreement with the U.S
Crude oil shipper DHT Holdings, Inc. announced today that it has appointed Joseph H. Pyne to its board of directors, expanding the board from three to four independent directors. Erik Lind, Chairman of DHT said, “We are very pleased to have Joe join the DHT board of directors
Marine container terminal operators at the Port of Oakland are developing a program to operate their terminal gates on Saturdays to reduce weekday congestion at the port. The new program, called OakPass, is expected to begin in the fourth quarter of this year, pending review by the U.S
Oil, gas and iron ore imports resume after disruptions; Strategic oil reserves in the region not affected. Many operations have resumed at China's Tianjin port, trade sources said, after explosions last week that killed more than 100 people and disrupted business at what is an important oil
Three of the top liquefied natural gas (LNG) tanker owners have decided to market 14 vessels jointly on a spot charter basis, part of a new pooling arrangement that is aimed at cutting operating costs in a depressed market. The pool, consisting of eight modern vessels from Norwegian shipper
Container shippers of the G6 Alliance announced four sailings within their Asia-Europe product have been cancelled in response to changes in market demand. According to the shippers, as the G6 Alliance continues to review its product profile
Malaysia-based Orkim Ship Management (ORKIM) is the latest shipping company to turn to E Foqus for its software solution in commercial and voyage operations. Orkim is a tanker operator for Clean Petroleum Product (CPP) in the region, having long-term contracts with oil and gas operators.
German container shipping group Hapag-Lloyd aims to launch preparations for a stock market flotation in September, earlier than initially planned, four sources familiar with the transaction told Reuters on Thursday. That would permit the company's shares to trade on the Frankfurt stock exchange
Container shipper CMA CGM said its vessel berthing and departures are back to normal with some expected delays following the August 12 explosions at the Port of Tianjin which killed more than 100 and injured hundreds more. CMA CGM said all of its crew members and local employees in
Tanker shipping firm Nordic American Tankers Limited (NAT) announced that chairman and CEO, Herbjorn Hansson, and his family have increased their holding in the company. According to NAT, a company owned by Herbjorn Hansson and his son, Alexander, yesterday bought 100
Tanker shipper Ardmore Shipping Corporation’s latest newbuild vessel, Ardmore Seawolf, was delivered by SPP Shipbuilding from the Sacheon shipyard in Korea on August 13, 2015. The addition of the 49,999 DWT IMO 3 product and chemical tanker increases the number of Ardmore vessels on
Westbound sailings to North Europe and the Mediterranean to start in September Container shipping firm MSC has published sailing dates for its new look Asia network announced Monday, August 17. MSC’s new East-West Network is made up of 193 vessels which operate across
Dry bulk commodities shipper Scorpio Bulkers Inc. announced today that Scorpio Services Holding Limited purchased an aggregate of 500,000 common shares of the company in the open market last week at an average price of $1.71 per share.
Merger with CSAV is expected to deliver $100 million higher synergies than targeted, strong operating results, significant increases in transport volume and revenue driven by the merger Container shipper Hapag-Lloyd said it has increased transport volumes and revenue as well as earnings