Marine link
 

Vessel Charterer

Shippers Take Measures to Limit OW Bunker Fallout

Shipping firms have paid millions of dollars into U.S. accounts to prevent their vessels from being detained due to non-payment of bills for fuel supplied by the bankrupt OW Bunker, indicating the impact from the collapse of the Danish firm was spreading. OW Bunker filed for bankruptcy in November after losing almost $300 million in alleged fraudulent trading in Singapore, leading to claims by distributors who sold shipping fuel on behalf of OW Bunker but had not been paid. Some 13 cases involving bunker bills totalling about $12 million have been filed at New York's southern district court, a maritime lawyer said. U.S. court documents seen by Reuters show 11 firms, including Germany's Hapag Lloyd and European gas carrier Exmar, have agreed to pay about $10.3 million into court and a law firm's trust account since November. A bond for about $180,000 has been paid into court on behalf of Hapag Lloyd to cover unpaid bunker bills, said Peter Gutowski, a partner in Freehill Hogan & Mahar. Law firms acting on behalf of other companies declined or were unable to comment. A New Jersey judge agreed last week that $938,607 be paid into a law firm's trust account to cover unpaid bunker bills and prevent the detention of the 49,997 deadweight tonne container ship Cosco Piraeus, operated by Cosco Container Lines (Coscon).


Crowley Christens 2nd LNG-ready Product Tanker

Photo: Crowley

Crowley christens second of four newly built, LNG-ready product tankers for use in U.S. coastwise trade   Crowley Maritime Corp. has christened the second of four new Jones Act product tankers yesterday at the South Florida Petroleum Terminal (The Public Dock) in Fort Lauderdale, Fla. The 50,000 dead-weight-ton (dwt), 330,000-barrel-capacity Texas joins sister ship Ohio, which was christened by Crowley in November


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


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


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.


Diana Containerships, MSC Enter Time Charter Deal

(Photo: Diana Containerships)

Diana Containerships Inc. announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with MSC-Mediterranean Shipping Co. S.A., Geneva, for one of its Post-Panamax container vessels, the m/v Puelo, a 6,541 TEU container vessel built in 2006.   The gross charter rate is $6,500 per day, for a period of 12 months. The charterer has the option to further employ the vessel for a 12 month period, at a gross charter rate of $8


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


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


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


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


VLCC Rates to Fall Further in Well-supplied Market

File photo: Maran Tankers Management

Freight rates for very large crude carriers (VLCCs) are set to slide further next week, falling below tanker break even costs on routes from the Middle East, as too many ships chase too few cargoes, brokers said on Friday.   "In today's market Middle East charter rates are around $15


OSC Launches VLCC Chartering Business

Photo: OSC

Oman Shipping Company (OSC) has officially set up a new commercial chartering desk offering its Very Large Crude Carrier (VLCCs) to major traders and charterers covering VLCC routes worldwide.   OSC, one of the biggest ship owners in the MENA region


VLCC Rates to Stabilise as Owners' Resolve Stiffens

File Image: CREDIT EuroNav

VLCC's likely to struggle to break even for next two months; three-tier VLCC market weighs on sentiment.   Freight rates for very large crude carriers (VLCCs) are likely to become steady around the current levels as owners resist charterers' attempts to pull down hire rates with the


DNV GL Launches LNG Fuel Finder

Image: DNV GL

 Just in time for Nor-Shipping, DNV GL will launch the LNG Fuel Finder - a new tool on its LNG business intelligence portal LNGi.   The new LNG Fuel Finder service will allow shipowners and charterers to register their interest in using LNG as a ship fuel free of charge


Asia Tankers-VLCC to Stabilise as Owners Stand Firm

File Image (CREDIT: AdobeStock)

40 MidEast VLCC cargoes fixed for early April loading.   Freight rates for very large crude carriers (VLCCs), which have fallen to six-month lows, are likely to hold steady around current levels as owners resist charterers' attempts to push rates lower, brokers said.  


Asia Dry Bulk-Capesize Rates Set to Climb Again

File Image (CREDIT: AdobeStock / Lidian Neeleman)

Capesize rates hit new multi-month highs this week; BHP and FMG likely to renew chartering activity next week.   Freight rates for large capesize dry cargo vessels on key Asian routes, which hit multi-month highs on Tuesday, could climb further on increased chartered activity by miners


New Training Program on Near-miss Reports

Photo: Videotel

Videotel, a KVH company, has launched a new training program, “Report a Near-Miss, Save a Life”, in association with The Standard Club, a protection and indemnity (P&I) club, which insures ship owners, operators, and charterers for their liabilities to third parties.


Asia Tankers-VLCC Rates to Climb as Asian Refiners Restock

File Image: A typical VLCC underway (EuroNav)

Rates to climb to around W65 from MidEast to Asia; W70 from West Africa.   Freight rates for very large crude carriers (VLCCs) are set to rise further as Asian refiners rebuild inventories after plants were reactivated following maintenance outages, brokers said on Friday.  


Seanergy Bags Time Charter for Capesize Bulker

Photo: Seanergy Maritime Holdings Corp

 Seanergy Maritime Holdings Corp has entered into a time charter contract (T/C) with a major European charterer, for one of its Capesize dry bulk vessels, for a period of about 18 months to about 22 months.    The T/C is for the 180


NovaAlgoma Short-Sea Carriers Launched

Photo: NovaAlgoma Cement Carriers (NACC)

 Algoma Central Corporation and Nova Marine Carriers SA today announced the creation of a new joint venture that will focus on short-sea dry-bulk shipping for global markets.    This new joint venture, operating as NovaAlgoma Short-Sea Carriers, or NASC


First Spanish-built SOV Launched

Photo: GONDAN

The first service operation vessel (SOV) built in Spain has been launched at shipbuilder GONDAN’s facilities in Figueras.   This 81.1-meter-long and 17-meter-beam vessel is the first of two new SOVs that GONDAN will deliver to Norwegian ship owner Østensjø Rederi


OSM Sees Offshore Activity Uptick

Paolo Croatto (Photo: OSM)

OSM: eight offshore vessels taken over and more than 200 crew positions added since January 2017   The offshore supply industry is largely in turmoil, staring down issues with overcapacity, lay-ups, layoffs, industry restructuring and asset speculation happening on a broad scale.  


Navios Acquires Capesize Vessel

 Navios Maritime Partners, an international owner and operator of dry bulk and container vessels, announced on May 9 that it has agreed to acquire one 2011 South Korean-built Capesize vessel of 179,016 dwt for a purchase price of $31.05 million.  


DryShips Acquires Suezmax Newbuilding

File Photo: DryShips Inc

 Greece-based DryShips, a diversified owner of ocean going cargo vessels,  entered into an agreement with an entity affiliated with the Company’s Chairman and CEO, George Economou, to acquire one 158,000 deadweight tons Suezmax tanker currently under construction in China.  


Dryships Adds Second Aframax Tanker

Image: DryShips Inc

 DryShips Inc, a diversified owner of ocean going cargo vessels, announced that it has taken delivery of the previously announced 115,666 deadweight tons Aframax tanker built in 2012, which will be employed in the spot market.   "Since the commencement of our acquisition program






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright