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
As of July 1st, 2016, the enforcement of the Safety of Life at Sea Convention (SOLAS) requirements regarding the verification of the gross mass of packed containers will be applicable. A packed container will not be allowed to be loaded on board vessels to which the SOLAS Convention applies unless the Verified Gross Mass (VGM) of the container has been provided to the ship’s master or his representative and to the terminal or its representative sufficiently in advance to
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.
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
Carriers hoping for a respite from difficult market conditions with the traditionally buoyant peak season may be disappointed as a recent survey has revealed that shippers expect this year’s peak season to be subdued. Shippers tell Drewry survey they don’t expect much of a volume uplift in the third-quarter peak season. Nearly half of the 51 shippers who responded to the survey by Drewry Supply Chain Advisers said they expect volumes for the third-quarter
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.
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
The proposed OCEAN Alliance between several of the world’s largest container shippers has received approval from the U.S. Federal Maritime Commission (FMC), allowing it to become effective Monday, October 24, 2016. The OCEAN Alliance, comprising COSCO Shipping, CMA CGM
The recent rally in Asia to Europe spot market rates has improved carriers’ chances of securing higher 2017 contract rates. How much extra will shippers have to fork out? It has been another typically volatile year as far as the spot freight rate market (i.e
South Korean container shipper Hanjin Shipping said on Monday that it would close all 10 of its European businesses operations, reports the Wall Street Journal. Hanjin has applied for court approval to close all 10 of its business operations in Europe
Dubai's Gulf Navigation Holding has signed a deal with China's Wuchang Group to expand its company's fleet, it said on Wednesday. Dubai's only listed crude shipper said in a statement the agreement would help meet "increasing demand for transferring chemicals from the UAE and other
As Western firms wait to for Arctic shipping to show its worth, Asian countries are already betting on the emergence of an Arctic economic rim, reports The Arctic Journal. For centuries, a harsh climate and ice-choked seas dashed the dreams of sailors attempting to cross the
The South Korean court overseeing Hanjin Shipping’s receivership process plans to put the collapsed shipper’s Asia-U.S. operations up for sale as early as Friday, says a report in Fortune. The company said that it is selling major businesses, including its Asia-U.S
CSL Group head Rod Jones will retire effective March 31, 2017, after a career with the Canadian dry bulk shipper that spans over 30 years, including nine years as president and chief executive officer. Louis Martel, currently CSL International president and CSL Group executive vice-president
Already the busiest port of entry in America for international air freight, Miami International Airport will soon be able to receive perishable freight imports by sea as well – a first for any Florida airport – through a permit approved in September by the U.S
National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 37.6 percent drop in third-quarter net profit on Monday. The company's net profit for the three months to Sept. 30 was 318.4 million riyals ($84.92 million), down from 510
Hyundai Merchant Marine is considering bidding for its bigger local rival Hanjin Shipping Co.'s Asia-U.S. route, reports Yonhap. Hyundai Merchant, currently under a creditor-led debt restructuring scheme, is planning to submit a preliminary bid for Hanjin Shipping's route
Service introduced in wake of Hanjin announcement and continues from Yantian. MSC’s Maple service is to resume on Friday 28th October, sailing from Yantian and including Vancouver in its full rotation. The service was first introduced in September on the Transpacific
CMA CGM informed its customers that the collection of Terminal Handling Charges (THC), which was introduced in Ghana on July 20th, 2016, has been temporarily suspended, effective October 4th, 2016. CMA CGM will communicate on the resumption in due course.
Strong container traffic, newly introduced segments and the Expanded Canal all contribute to the 330.7 million tons of goods welcomed through the Canal in FY16, the third highest amount ever recorded. Panama City, Panama, October 20
In order to offer shippers a more comprehensive service on Asia-Australia trade, Evergreen Line, OOCL, MOL, "K" Line and YML are teaming up to offer a new joint North East Asia - Australia Express (NEAX). This weekly service will utilize six ships of between 3,500 and 3
The bankrupting container operator Hanjin Shipping Co. is shedding half of its ground workforce and may ax equally that many of the crew on deck as the bankruptcy court is out to sell most of ground and sea assets, according to the Pulse.