European Shipowners may increase freight rates or renegotiate bunker clauses in the coming year in order to capitalise on lower crude oil prices and consolidate the recovery seen in 2015, reports ICIS. Bunker fuel prices came down significantly amid lower crude oil prices but some shipowners have been unable to take advantage of this because of the bunker clauses they agreed to. A bunker clause is an agreement between charterer and shipowner whereby the charterer pays for fuel at the port and then the shipowner reimburses the charterer for the fuel left in the vessel on its return, both at the current price of the ports involved. “Bunkers are down 50% but I don’t think that the bunker clauses have been covering that so for sure owners will try to renegotiate them so they don’t have to pay [as much]. At the same time, even though freights have dropped a bit, bunker fuel has dropped more so [owners] are better off than they were last year and posting strong results,” one ship operator said. “I think they’ll try and increase earnings next year  by accepting a lower bunker clause or by pushing freights up,” a European market sources said.
In the wake of an independent report recommending the Netherlands government to provide Dutch shipowners with better levels of protection against piracy, including the hiring of armed guards, Netherlands law firm AKD says that shipowners who directly hire armed personnel themselves could face criminal prosecution. The so-called De Wijckerslooth Committee report was designed to assess the desirability and possibility of deploying private sector armed security to help protect
Gray Page, a maritime intelligence, investigation and crisis management company, advised that the IMO's Maritime Safety Committee’s (MSC) recently-approved interim guidance on the employment of privately-contracted armed security personnel (PCASP) to combat piracy underlines the requirement for independent vetting of private armed maritime security providers (AMSP). The MSC guidance, issued in May, incorporates recommendations for flag States confirming that it is the responsibility of
Martek Marine’s leasing package offers an option to adopt ECDIS early, which they said can help shipowners benefit from increased safety and lower costs. ECDIS product specialist Bentley Strafford-Stephenson said, “DNV research has shown that deploying ECDIS may reduce grounding frequency by at least 30%. Grounding is the third most frequent accident involving ships larger than 100GT and the fourth highest contributor to marine fatalities at 12%
DNV now offers shipowners the support they need to make newbuilds and existing vessels LNG ready with class approved designs, ready for later, simple retrofit of LNG technology. The service enables shipowners to make smart choices and minimal investments now in readiness for when LNG bunkering becomes widely available. Shipowners are supported through all stages of the decision-making process as they prepare to meet the IMO air emission regulations entering into force from 2015
The ICC reported that shipowners are facing new dangers from criminal gangs making spurious oil fraud claims. The “victims”/fraudsters try to extort money from owners by bringing action against them for failing to deliver cargoes of oil they allegedly own. Such scams were previously confined to West Africa, ICC said, but now appear to have spread to other countries, as a case reported recently to the ICC International Maritime Bureau (IMB) shows.
The Council of European and Japanese Shipowners’ Associations (CENSA) has been merged into a newly formed Shipping Policy Committee of the International Chamber of Shipping (ICS) effective January 1, 2002. CENSA has provided a platform for national shipowners’ associations in Europe and Japan to promote open and fair international shipping markets, and multilateral rather than unilateral regulation with regard to commercial shipping policy.
At a ceremony held in the Villa Doria D’Angri at Posillipo in Naples presided over by Professor Gennaro Ferrara rector of the University Studi of Naples “ Parthenope” shipowner Gianluigi Aponte was awarded an honoury degree in Maritime Economics and Transport.
Viking Life-Saving Equipment and E.R. Schiffahrt have teamed up to design a fully customized, global servicing arrangement based on Viking’s Shipowner Agreements. The contract covers liferafts, lifeboats, immersion suits, lifejackets and marine fire systems and equipment such as fire extinguishers on more than 30 vessels of the shipowner’s fleet. The plan is for Viking to manage not just service notifications, but also the coordination of all servicing.
More than 200 stakeholders from the maritime world gathered at the Culture Yard in Elsinore, Denmark, where the World Maritime University, in collaboration with the Danish Shipowners' Association, hosted a major international conference focusing on maritime CSR (Corporate Social Responsibility). The conference was part of the thrust to formulate maritime CSR policies and to implement them by self-regulation, an area in which analysts consider the shipping industry has been slow to adopt
COSCO Shipping Heavy Industry Co is planning to cut the number of shipyards that are able to manufacture offshore engineering products from five to two by 2020, China Daily reported. China's third largest shipbuilder by output makes this move as the company's latest effort to cut
Saga Shipholding has completed the installation of Optimarin Ballast Systems (OBS) throughout its entire fleet of 32 advanced open hatch cargo vessels. In doing so, Saga has become the world’s first shipowner to fit ballast water treatment (BWT) systems that are USCG compliant throughout a
Marlink has acquired Palantir AS, a Norway-based maritime IT company specializing in remote IT management solutions. The Share Purchase Agreement whereby Marlink acquired 100 percent of Palantir AS shares was completed on March 17, 2017.
The Republic of the Marshall Islands (RMI) fleet now stands at 223,262,177 deadweight tons (DWT), making it the second largest registry in the world in terms of DWT. International Registries, Inc. and its affiliates (IRI) have provided administrative and technical support to the RMI Registry since
European Community Shipowners’ Associations (ECSA) regrets that European port and cargo interests have come out in favour of the European Parliament’s position to conditionally include shipping in the EU Emission Trading Scheme as of 2023 if the International Maritime
The International Chamber of Shipping (ICS) has published its latest Flag State Performance Table providing an annual overview of the performance of the world’s flag states against a number of criteria such as port state control records
GTT has received an order from Hyundai Heavy Industries (HHI) to equip a new floating storage and regasification unit (FSRU) with its Mark III cryogenic membrane containment system. This order includes a firm vessel and one option. The FSRU of 170,000 m3 will be built at Hyundai's shipyard
Mike Corrigan, the incoming CEO of global trade association Interferry, is to advocate greater European Union involvement and investment in the ferry sector during an address on the opening day of European Shipping Week, which takes place in Brussels from February 27-March 3.
"K" Line (India) Shipping Private Ltd (KLISP), affiliated company of Kawasaki Kisen Kaisha Ltd., joined Indian National Shipowner's Association(INSA) at the end of January 2017. KLISP was established in 2014 and actively participates in Indian Coastal Trade as well as
Today, Carbon War Room (CWR) and UMAS released research that suggests climate transition pathways pose risks to the banks that hold $400 billion of global shipping debt. With the onset of climate policies as soon as 2023, there will be a need for significant capital investment to keep vessels
The EU shipping industry directly employed 640,000 people and supported a EUR 57 billion contribution to GDP in 2015, says European Community Shipowners' Associations (ECSA) Adding supply chain and worker spending multiplier impacts
Protectionism and long hauled free trade negotiations can be an expensive battle for the Danish shipowners, if the market outside the European Union are not included in free trade negotiations. The Danish Shipowners’ Association hosted a verbal rumble between the Danish Social
Capesize rates from Western Australia to China at 8-week high; shipowners parking ships off South Africa to stop rates falling. Freight rates for large capesize dry cargo vessels on key Asian routes could remain rangebound next week as abundant tonnage puts a ceiling on freight rates even
The United Kingdom Accreditation Service (UKAS) has announced which companies will be able to provide verification services to shipowners as part of EU MRV Regulation 757/2015. The EU Monitoring, Reporting and Verification regulation, which came into force in 2015
International Maritime Organization (IMO)'s work to mitigate greenhouse gas emissions from international shipping has conducted in Mumbai, India with a train-the-trainer course on energy-efficient ship operation. The course (28 February – 3 March) is training maritime