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.
Inadequate Newbuild Supervision Leads to Claim
International Transport Intermediaries Club (ITIC) says a recently concluded claim brought against a newbuilding supervisor helps illustrate the level of diligence which might realistically be expected of such a specialist service provider. In the latest issue of its Claims Review, ITIC cites the case of a newbuilding supervisor appointed by a technical management firm to oversee the building of a number of chemical carriers. A dispute arose concerning two hulls which were scheduled for delivery in early 2009.
ITIC Highlights The Perils Of E-Mail
Electronic communication is not totally secure despite a seemingly bug-free transition into 2000, warns The International Transport Intermediaries Club (ITIC). E-mail systems may help in reducing communication costs but they can still lead to substantial losses at the touch of a button. The latest issue of ITIC's Claims Review reports the case of a charterer who had invited tenders for a long-term charter. A shipbroker sent his principal's bid via an industry message system to the charterers' mailbox in the U.S. using an address code for the charterer. Unfortunately, the American system interpreted the code as a mailing list and the bid was circulated to a number of other owners. The principal did not secure the bid, claiming it was undercut as a result of its inadvertent publication.
