Shipowner’s Loss of Earnings and Collision Claim
Awareness of the ways of calculating loss of earnings claims can be useful in both presenting and challenging this type of claim. This Gard Insight looks at some general principles and methods applied by the courts. A product tanker was hit by a bulker while at berth. Although the extent of the physical repairs - and therefore the repair costs - were relatively limited, the damaged tanks required stainless steel plates which had to be specially ordered. Long lead times led to a significant loss of earnings. As owners were able to document this loss with care and precision, leaving little room for doubt, the case against the owners of the bulker was settled quickly and amicably.
Wärtsilä Unveils New Waterjets
Wärtsilä Corporation introduces a new compact, high-performance waterjet that is optimized for fast vessels. The new Wärtsilä LJX waterjet offers, in comparison with other waterjets available today, a 25 percent reduction in mounting flange diameter, a 10 percent overall weight reduction and a 35 percent increase in cavitation margin. The LJX waterjet allows further innovation in fast vessel design. The new Wärtsilä LJX waterjet is being developed to allow an optimum number of waterjets to be chosen for a given propulsion power requirement without requiring an excessive transom width in high-speed vessels. Generally, when selecting waterjets…
British Trader
British Trader has been noted as a technologically advanced double hull LNG carriers, designed to meet world wide trading on the ship/shore compatibility and fuel tank capacity, double hulled cargo area with four cargo tanks constructed to GazTransport & Technigaz Mark III cargo containment system — for the carriage of LNG cargoes at cryogenic temperature (-163°C) and atmospheric pressure. The hull structure, which has been designed in accordance with the requirements of LR's ShipRight, has a fatigue life designed for a period of no less than 40 years. This vessel, with GTT Mark-III containment system, has been built for British owner, BP Shipping, can carry 138,200 cu.
