Chirac Vows To Make Polluters Pay More
French President Jacques Chirac vowed to push for international laws forcing polluters to pay more for damage caused by oil slicks like one that smeared France's Atlantic shoreline last month. Speaking to youths shoveling globs of fuel oil that washed up near the resort of Le Croisic, Chirac said he wanted to see harsher accident fines for ship charterers and owners.
Bunkerfuels Founder Joins OceanConnect
Bob Fitzgerald, founder of Bunkerfuels, will join OceanConnect's senior management team, effective April 15, 2002. Fitzgerald, who founded Bunkerfuels Corporation in 1978 and quickly led it to a world leadership position, sold the company in 1999, when Bunkerfuels handled over 10 million tons of marine fuel inquiries and closed approximately 6.5 million tons from office locations in the United States, Korea, England and Brazil. Fitzgerald's experience also includes 11 years of service in Chevron's production, drilling and bunker divisions and eight years as manager of the bunker department for ship charterer Charles R. Weber Company.
Rickmers: Maersk Tigris Released by Iran, Crew safe
Iran has released a Marshall-Islands flagged container ship and its crew which were seized last month in one of the world's major oil shipping lanes, the vessel's operator said on Thursday. It confirmed reports from Iran. The vessel was diverted on April 28 by Iranian patrol boats in the Strait of Hormuz. Iran had said the vessel would be let go once a years-old debt case with the ship's charterer Maersk Line was settled. "Rickmers Group is pleased to report today its managed container vessel Maersk Tigris with 24 crew members on board has been officially released by Iranian authorities following an order from the court in Bandar Abbas, Iran," the operator and manager said in a statement. "Earlier Maersk Line put up a security in relation to the underlying court case.
Cheng Completes Deal with Louis Dreyfus, DVB Nedship
Fred Cheng’s new shipping company, Shinyo International, has purchased the 1998-built 43,000dwt bulk carrier Bara from Louis Dreyfus Armateurs SNC of France. The ship is chartered back to CETRAGPA (Louis Dreyfus) for a period of four years. The transaction marks the first post-Golden Ocean acquisition by Cheng. It also reflects the core industrial shipping approach taken by Cheng over his twenty five years as a shipowner. DVB Nedship Bank provided the mortgage finance for the acquisition out of the bank’s Hong Kong office. The ship will be managed by Univan Ship Management, also of Hong Kong. Dagfinn Lunde, Chairman and CEO of DVB Nedship Bank stated…
Group Of 41 Oil Majors To Supply Tanker Status Reports
A group of 41 oil majors will make their tanker inspection reports available to port examiners in Europe. They also aim to ensure higher standards for their shared reporting system as part of a raft of initiatives to ensure greater tanker safety in the wake of the Erika incident. "We have been in recent discussions with the Paris MOU secretariat with a view to making SIRE reports more easily available to port state inspectors," Oil Companies International Marine Forum (OCIMF) Chairman Richard Paniguian said at a news briefing in London. SIRE (ship inspection reports) do not pass or fail vessels on structural issues but concern operating standards. The Paris MOU is Europe's agreement by which unsafe ships are detained by individual countries' port-based inspectors until repaired.
North Sea Atlantic Joins the Technip fleet
On Saturday July 26, 2014, a ceremony was held in Bergen to officially name the latest new subsea construction vessel to join the Technip fleet, the North Sea Atlantic. More than 200 guests from shipowner North Sea Shipping, ship charterer Technip and supply chain partners, gathered to attend the ceremony held at the NorYards BMV AS shipyard (previously Bergen Group) in Laksevåg, Bergen, Norway. The event was hosted by North Sea Shipping CEO, Hallvard Klepsvik, and his wife, Sigrid Anne Våge, acted as the vessel godmother. Technip announced in 2012 that it had signed a long term charter agreement with North Sea Shipping for an advanced new build construction vessel.
Oil Majors To Supply Tanker Status Reports
A group of 41 oil majors will make their tanker inspection reports available to port examiners in Europe. They also aim to ensure higher standards for their shared reporting system as part of a raft of initiatives to ensure greater tanker safety in the wake of the Erika incident. SIRE (ship inspection reports) do not pass or fail vessels on structural issues but concern operating standards. The Paris MOU is Europe's agreement by which unsafe ships are detained by individual countries' port-based inspectors until repaired. But it is expected that the European Union to increase sanctions on oil companies as ship charterers in the wake…
Dorian LPG MoU with HNA Logistics
Dorian LPG Ltd. a leading owner and manager of modern VLGC's (very large gas carriers), today announced that it has entered into a Memorandum of Understanding ("MOU"), with HNA Logistics Group Co., Ltd. to explore opportunities in the liquefied petroleum gas logistics market. John Hadjipateras, Chairman, President and Chief Executive Officer commented, "We are very pleased to form a strategic relationship with HNA Logistics. Their unique presence in the Chinese market creates opportunities to develop energy related transportation, finance, infrastructure and distribution.
Online Bulk Shipping Exchange Will Transform Market
An online shipping exchange being set up by two of the world's biggest oil firms, a leading agrifood multinational and top shipbroker will transform the way traditional shipping markets work, industry experts said. The company, LevelSeas.Com, being set up by oil majors BP Amoco and Shell International Trading and Shipping with food processor and distributor Cargill and shipbroker Clarksons will potentially control 10 percent of bulk commodity movements from day one. But it aims to be a neutral platform open to all sides of the industry. "This will act as a real catalyst for change in the industry - and change for the better. Nothing else offers a seamless service to take us from the start to the end of a voyage…
Global Ship Lease Extends TC with CMA CGM
Global Ship Lease, a containership charter owner, announced that it has agreed to an extension of its charter with CMA CGM for the GSL Tianjin, a 2005-built, 8,063 TEU containership. The vessel will be chartered for a period of eight to twelve months (at the charterer's option) at a fixed rate of $11,900 per day, commencing in direct continuation from its current charter on January 26, 2018. Ian Webber, Chief Executive Officer of Global Ship Lease, commented, "We are pleased to have secured this extension with CMA CGM for the continued employment of the GSL Tianjin.
Landmark LNG Carrier Launched by IZAR
To great fanfare, Iñigo Tapias, the new 138,000 cu. m. liquefied natural gas (LNG) carrier was launched on January 29 by IZAR's Sestao yard in Bilbao. The ship — standing in testament to the 1,213 workers at Sestao who physically made the ship a reality as well as the underlying strength of the IZAR company — is a highly significant one for many reasons, both technical and business. The 933-ft. (284.4-m), 19.5 knot ship embodies the hopes of a shipbuilding nation that is seeking to re-establish its presence in the LNG niche that it has not occupied for more than three decades, as the production of gas ships generally lays in the hands of Far East builders today.
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 to the broker. The charterers had deducted commission of EUR 50,514 from the hire, but had only paid Euros 20,000 to the broker. Then payments suddenly ceased without explanation. ITIC wrote to the time charterers on behalf of its shipbroker client on two occasions and was advised that payment was to follow.
Persistence Pays Off for Shipbroker
International Transport Intermediaries Club (ITIC) has illustrated how persistence can pay off for shipping intermediaries looking to pursue legitimate claims in today’s difficult financial climate. In the latest issue of its Claims Review, 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 to the broker.
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. North said that even though the obligation to provide and pay for fuel under a time charterer rests with the defaulting charterer, and that the owner is not a party to the bunker supply contract, owners and their ships are vulnerable to action in many jurisdictions.
Paragon Announces Early Charter Termination
Paragon Shipping Inc. announced that Deiulemar Compagnia di Navigazione SpA, the charterer of the M/V Friendly Seas (the "Vessel"), a 2008-built 58,779 dwt Supramax bulkcarrier (the "Charterer"), has continued to fail to provide payment due since January 5 and has failed to provide the Vessel with voyage instructions. Accordingly, Paragon Shipping has provided written notice to the Charterer of the termination of the charter, but has received no response. Paragon Shipping is currently seeking alternative employment for the Vessel and will seek damages for the Charterer's breach. There can be no assurance that Paragon Shipping will be…
ITIC Highlights Value of Diligent Debt Collection
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, ITIC ascertained from local sources that the charterer was in serious financial trouble.
Advice for Charterers as Legal Liabilities Grow
A surge in the volume of fixed premium business managed by the UK P&I Club and the proportion accounted for by time chartering has highlighted the growth and complexity of insuring these types of shipping operation. The financial results for the year ended February 20th 2007, discussed by the UK Club’s directors earlier this month (May), revealed that $65 million of the Club’s total gross premium income ($358 million) was fixed premium business----and that two-thirds of this came from time charterers. Risk is increasing, not only through aggregations of value carried on ever larger ships and increasing commodity prices but also because of significant claims inflation.
Diana Shipping Dispute Early Charter Termination
Diana Shipping subsidiary Gala Properties Inc. has received a notice from the charterers of the 'M/V Houston' claiming that they are entitled to terminate the vessel's charter effective November 26, 2013 for purported breaches by the owners. The Company believes that the owners have fully performed under the terms of the charter since its inception and that the charterers have no basis for the purported termination of the charter. The charterers have not previously alleged breaches by the owners. In contrast, payments by charterers under the charter have been late on numerous occasions.
Handy-size Bulk Carrier Market: Tonnage Shortage Pushes Up Rates
The NCSA-USG area remains short of tonnage: a 34,000 dwt bulk ship is well-linked to US$ 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. From the NCSA, undisclosed charterers were chasing a 35,000dwt for short period at US$ 13,500, which was about US$ 2,000 short of the owner's ideas.
Addition of Charterer to USCG Advance Notice of Arrival
The U.S. Coast Guard is amending its Advance Notice of Arrival regulation by adding charterer information as a required element. As of September 18, 2002, the vessel's Advance Notification of Arrival report must include the name of the vessel's charterer. For this purpose, charterer means the person or organization that contracts for the majority of the carrying capacity of the ship. The term includes time and voyage charterers. When scored according to their history, charterers that fit into the high-risk category will have their vessels targeted for boarding. Source: HK Law
ITIC: Broker Follow-up Vital in Fluctuating Markets
ITIC says that the failure of shipbrokers to follow up on time-sensitive messages can have serious financial consequences, particularly in fluctuating spot markets. In its latest Claims Review, ITIC cites the case of a ship fixed for a trip time charter for two voyages, with an option for a third. The option was to be declared by the charterers on completion of loading for the second voyage. The fixture had been negotiated through brokers in two different offices of the same company.
Lawrence Graham Warns on Fuel Disputes
London law firm Lawrence Graham LLP says owners and charterers should beware a rash of disputes caused by the recent high bunker prices. Writing in the October issue of Lawrence Graham’s newsletter, Shipping Lawgram, Imogen Rumbold, partner in the shipping law team, says, “Forecasting oil prices is difficult but it is easy to forecast what will happen when fuel prices spike. A period of high bunker prices is always followed by a rash of disputes between charterers and owners and between bunker suppliers and charterers followed by an upsurge in arrests as all parties try to collect debts. The biggest loser is usually the owner, who may face legal costs and delays to the vessel under a new charter, caused by defaults of the previous charterer.
BIMCO launches the Bunker Non-Lien Clause
BIMCO has today launched the Bunker Non-Lien Clause, aimed at reducing bunker suppliers’ reliance on ship arrest as a means of resolving claims for bunkers ordered but not paid for by time charterers, often due to bankruptcy. If a time charterer goes out of business during the currency of a charter, owners can sometimes face a “double whammy” of loss of hire for the balance of the contract and then subsequent arrest of their vessel by bunker suppliers pursuing a claim for unpaid bunkers. Bunker suppliers are able to arrest a vessel (in some, but not all jurisdictions) by enforcing a right of lien or retention over the bunkers for the money they are owed, even though the owners, under a time charter, are not a party to the bunker supply contract.