When the Documentary Committee of BIMCO met on November 14, 2002 in Copenhagen, Denmark, they agreed to adopt a revision of its General Ice Clause for voyage charter parties. The revision of the General Ice Clause forms part of an undertaking to review over time a series of well-known BIMCO standard clauses to reflect legal and commercial developments. The amendments have been made because the existing ice clause was found to be deficient in a number of ways, in particular that the vessel should not be required to follow ice breakers or to force ice. It was also felt that provisions were needed to protect the owners against the risk of ice being experienced on the approach voyage. Consequently a revised General Ice Clause has been drafted to take the above concerns into consideration. A provision has been included that the vessel should not be obliged to force ice but, subject to the owners’ approval, may follow ice-breakers when reasonably required. In addition, in the event that ice impedes the vessel from arriving at the loading port, the clause now contains three options for the charterers to: (1) nominate an alternative safe and accessible port; (2) agree to reckon laytime as if the port were accessible or; (3) declare that they cancel the charter party. Such option must be declared to the owners within 48 running hours
Persistence pays off for shipbroker's legitimate claim for outstanding financial commission due from time-charterer. In the latest issue of its Claims Review, International Transport Intermediaries Club (ITIC) recounts the case of a shipbroker owed outstanding commission by time-charterers who were widely thought to be in financial difficulties. The charter party provided that the time-charterers were obliged to deduct the broker’s commission from the hire and pay this directly
The International Transport Intermediaries Club (ITIC) has advised shipbrokers against using the term "first-class charterers" when conducting fixture negotiations, following a claim made by shipowners against one of its broker members in respect of the failure of charterers to perform a contracted fixture. Writing in the latest issue of its Claims Review, ITIC explained, “Norwegian shipbrokers were involved in negotiations for a voyage charter
GT North of England P&I club has warned its shipowner members to protect themselves from the increasing risk of claims for charterers’ unpaid bunkers. The advice comes in the latest issue of the club’s loss-prevention newsletter Signals. According to Mark Robinson of the club’s freight, demurrage and defence department, “The recent downturn in the shipping markets and the world economy has unfortunately led to some charterers going out of business
ITIC highlighted the value of diligently pursuing the collection of shipping industry debts in today’s difficult economic climate. In its latest Claims Review, ITIC notes that a shipbroker acting for charterers was owed $25,000 in commission by an Indian voyage charterer under a charter party which provided that the charterer would deduct the commission. Having written to the charterer and not received a response
The NCSA-USG area remains short of tonnage: a 34,000 dwt bulk ship is well-linked to US$ 15,000 daily for a short period of 3-5 months, reports BMTI in its latest 'Handy Bulk Market Viewpoint'. Owners of a similar size of tonnage were seeing US$ 24,000 daily for a trip to Europe. A range of US$ 20,000 daily from NCSA via the USG to the Continent from owners of a 36,000 dwt was rebuffed by charterers as being too expensive.
A Lesson in admiralty law was recently 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. Dennis Bryant, writing about the case on the Maritime Liens website, notes, "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
The U.S. Court of Appeals for the Fourth Circuit ruled that parties may not create a maritime lien by agreement. In the instant case, a bunker company provided bunkers to a ship that was under time charter. The time charter provided that the charterer had no authority to create a lien against the vessel. The bunkers were supplied in South Africa and Brazil. The bunker contract provided that English law was controlling and the General Conditions Clause provided that the claim would
General Maritime Corporation has signed two-year time charter contracts, with a trading company, for up to nine of its Aframax OBO Vessels (combination vessels which can perform both wet and dry trades). The initial time charter contracts are for four of the Company's Aframax OBO vessels. The contracts for the four vessels will provide net voyage revenue to General Maritime in the first year of approximately $28 million
The club says one of the most common reasons for guarantees being avoided is that they have not been signed by the guarantor or someone lawfully authorized by the guarantor. There must also be consideration for a guarantee to be legally binding. Usually this is a promise by the owner to enter into the charterparty, but if the guarantee is given after concluding the charterparty the consideration is past and no longer valid.
The latest Cummins-powered Offshore Service Vessel (OSV) delivery from Houma, Louisiana-based New Generation Shipbuilding is representative of the 'New Generation' in supply vessel design. According to Cummins Hotips, the distinctive bow and fo'csle profile on the 171 by 36-foot Mr
Marine transport advisors McQuilling Services explain in a tanker industry note that timing is everything in a volatile tanker market. McQuilling explain that on the outset, one might not directly see a similarity between Valentine’s Day and the tanker market; however
Green Award for inland shipping said it achieved a milestone on February 17, 2014 when it handed over its 500th nr certificate. Robert Baack, COO of IMPERIAL Shipping Holding GmbH, received the Green Award certificate nr 500 during a festive ceremony on board of the DB Haniel 14 in Duisburg
DNV GL is now running a pilot project that prepares the ground for the establishment of a Marine Battery Forum, which shall work to ensure that Norway is a world leader in maritime battery-based value creation. The forum shall be a tool for effective realization of the government's ambition of
Specialists of the Canadian Ministry of Transportation, Germanischer Lloyd as well as representatives of the shipyard, insurance, charterer and owners REEDEREI NSB have decided after inspecting the damaged 'MSC Monterey' (anchored south of Newfoundland) that permanent repairs can be carried out on
Sustaining the ongoing boatbuilding boom can involve the lawful use of foreign finance streams. James Kearns takes a closer look at the practice. The citizenship requirements for vessels engaged in the U.S. coastwise trade are generally well-known
Capesize iron ore freight rates in the Pacific and Atlantic fell further Tuesday, driven by lower-priced fixtures out of South Africa in the absence of Brazilian and West Australian charterers, reports Platts. Platts say they assessed the Capesize iron ore freight rate at $15
AtoBviaC announced that its BP Shipping Marine Distance Tables are now incorporated into the Voyager Planning Station solution. From this month, bridge personnel can take advantage of the accuracy and quality of AtoBviaC’s distance tables, route planning
A series of frauds, emanating from Turkish ports involving the shipment of bogus cargo and perpetrated against ship owners, have been uncovered by the security arm of the UK P&I Club, Signum Services, as reported in a prevention advice note as follows:
Canada’s two largest west coast ports are now both offering financial incentives to shipowners based on the ‘A to G’ Greenhouse Gas Emissions (GHG) rating, which benchmarks the energy efficiency of the international shipping fleet.
BMT Group Ltd (BMT), an international maritime design, engineering and risk management consultancy, has announced a new commercial operating company which will focus on the provision of high value, innovative vessel performance management and decision support solutions for the maritime industry
Swiss company PROMAR has ordered two Platform Supply Vessels from Damen Shipyards Group as it looks to further expand the offshore fleet under its management in the next five years. The first Damen PSV 3300 will be delivered in February 2015, and the second in August of the same year.
Nordic American Tankers (NAT) announced that an arbitration panel in London has produced an award in favor of NAT. Gulf Navigation Holding PJSC (GulfNav) was the other party in the arbitration. The case relates to the six-year bareboat charter with GulfNav of the Suezmax vessel Gulf Scandic (now
In the second of a four part series of explanatory notes to McQuilling Services '2014-2018 Tanker Market Outlook' an important element of the company's forecasting process regarding fleet utilization and availability (included for the first time in the current report) is discussed in the following
Otto Marine Limited confirm the time charter contract of their Platform Supply Vessel (PSV) - 'Sea Frost', for approximately US$8.0 million. Under the contract, which has recently commenced, Sea Frost has been contracted to support the Atwood Eagle rig located off the coast of Australia for a