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Vessel Charterer

BIMCO Issues New Ice Clauses

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


Shipbroker Chases Down Payment Due

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


Beware of First-Class Charterers

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


Protection from Unpaid Bunker Claims

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 Highlights Value of Diligent Debt Collection

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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


Handy-size Bulk Carrier Market: Tonnage Shortage Pushes Up Rates

Image in public domain

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.


Court Rules on Liens and Breaches

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


Parties May Not Create Maritime Lien by Agreement

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 Signs Time Charter Contracts

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


Shipowners-Ensure Third-Party Guarantees Are Watertight

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.


Euroseas Orders Two Drybulk Newbuilds

Euroseas signs new building agreements for the acquisition of two fuel efficient kamsarmax drybulk carriers and announces new acquisition for its joint venture Euromar. Euroseas Ltd., a Greek owner and operator of drybulk carriers and container vessels and provider of seaborne transportation


Agent-Operator Collaboration Brought into Veslink

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Veson Nautical announced the release of the Veslink Agent Portal, a new feature of Veslink, Veson Nautical’s online service that streamlines the collection and distribution of mission-critical maritime data. The Veslink Agent Portal enables port agents to submit Statements of Facts and Port


Icebreaking AHTS 'Tor Viking' Sub-Arctic Charter 2014/15 Cancelled

Tor Viking: Image Viking Supply

Sweden's Rederi AB TransAtlantic owners of the offshore drilling vessel 'Tor Viking' inform that the charter agreement for “Tor Viking” for the 2014 and 2015 seasons has been cancelled but the contract is still valid for the remainder of its period covering 2016 & 2017


Two Refiners to Load Oil at Libya's Hariga Port

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Barely a day after Libya's National Oil Corp (NOC) lifted force majeure at Hariga port, two refiners are already preparing to pick up Sarir crude from storage over the next two weeks, trading and shipping sources said on Friday.   The Aegean Dignity is on subjects - meaning final


Global Oil Transportation System Imperfect, Explains Forecaster

2014-2018 Tanker Market Outlook: Image courtesy of McQuilling Services

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


Singapore's Otto Marine Charters Out PSV 'Sea Frost'

Platform Supply Vessel Sea Frost Image courtesy of Otto Marine

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


New Generation Shipbuilding OSV Delivered

OSV Mr Ernie: Photo courtesy of Cummins Hotips

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


Tankship Market Analysts Say Timing Essential for Success

Figure 2 ABC scenarios: Image courtesy of McQuilling Services

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 Certifies 500th Inland Barge

From left to right: Robert Baack (IMPERIAL Shipping Holding GmbH, COO) receives an official Green Award plaque from Jan Fransen (Green Award Foundation, Managing director)

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


Maritime Battery Forum in the Works

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


Navios Acquisition Announces VLCC Delivery

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that the Nave Buena Suerte, a 2011-built VLCC of 297,491 dwt, was delivered today. The Nave Buena Suerte, one of the three VLCCs acquired in November 2013, was purchased for $57.0 million.


Navigator Holdings Run a Tight Ship, Report 2013 Profit Surge

Gas carrier: Photo courtesy of Navigator Holdings

In its preliminary fourth quarter and financial year 2013 results, ship owners and charterers Navigator Holdings report that EBITDA increased to $106.8 million for the year ended December 31, 2013 from $63.9 million for 2012. HIghlights


Growth for the Swedish Club

Lars Rhodin

The Swedish Club announced to its board today a significant increase in financial strength, with a positive underwriting outcome and investment earnings leading to a surplus of $17 million overall - a testament to the strategy of diversification and focused business development


Shipping Confidence at Highest Level Since 2008

Richard Greiner

Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens


Rodriguez Shipbuilding Delivers Powerful Shallow-Draft Tugboat

Sea Cypress profile: Image Cummins Hotips

The yard recently delivered a Cummins powered 75 by 28-foot model bow tug to Morgan City-based Garber Bros. Inc. and Sea Cypress LLC for Gulf of Mexico operations, inform Cummins Hotips. Cummins explain that over the years, Rodriguez Shipbuilding Inc


 
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