ITIC Urges Brokers to Call

Monday, October 10, 2005
Filing demurrage claims electronically could be costing shipbrokers significant sums of money, according to International Transport Intermediaries Club (ITIC). While e-mail may be quick, cheap and easy, brokers are being urged to ensure they have a system in place to confirm receipt of not only demurrage statements but all time sensitive documents.

In the past, brokers have used courier services to send claim documentation to charterers. According to ITIC, principals are increasingly adopting a policy for claims to be sent electronically. Although this can save on costs, it can also be unreliable. "It is not enough for the broker to simply send the message and forget about it," says the Club. "A common suggestion is that if the broker has not received an acknowledgment within 48 hours then the broker should telephone the principal to check that the message has been received. The cost of a call is minimal compared to the amount at stake."

Each year ITIC pays claims caused by shipbrokers which could have been prevented by a simple phone call. In some cases, by the time the problem was discovered, the claim had become time barred under the terms of the relevant charterparty. "This is the most common cause of claims against tanker brokers and with high freight levels these can be for significant sums of money," says ITIC.

Faced with the charterer's denial that the claim ever reached them, all that the broker may be able to prove is that its Internet Service Provider forwarded a message. This does not confirm receipt. "The majority of principals who have asked brokers to use e-mail have said that they will acknowledge the claim. The implication is that without such receipt, the principal will not accept that the claim has been delivered," warns the Club.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Vale CEO: Coal Deal Soon

Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

Kirby Corp. Announces Record 3Q Results

Record 2014 third quarter earnings per share of $1.34 compared with $1.21 in the 2013 third quarter, which included a $0.08 benefit due to the reduction of the United earnout liability.

Casualties

USCG Suspends Search for the 2 Migrants

The Coast Guard suspended its search Wednesday at 3 p.m. for two missing Cuban migrants in the vicinity of Caesar Creek, Florida, to Haulover Inlet, Florida.

Miko Marine Launches US Subsidiary

Miko Marine AS has opened a subsidiary in Morgan City, La. from where it will be able to supply ship operators and salvage companies throughout the United States with its range of products,

USCG Rescues Injured Woman from NC Sailboat

The Coast Guard medevaced an injured woman from a grounded sailboat Sunday just east of Seagate. Watchstanders at Coast Guard Sector North Carolina in Wilmington

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1767 sec (6 req/sec)