Category: Industry News

A quarterly snapshot of shipping industry news from around the world.

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ASBATANKVOY 2025: Modernizing a Maritime Standard and Reframing “Once on Demurrage, Always on Demurrage”

ASBATANKVOY - CHARTERPARTY - ONCE ON DEMURRAGE - TIME BAR - DEMURRAGE - LAYTIME We have carefully evaluated the key laytime and demurrage implications as the market shifts from the original ASBATANKVOY to this new version.  Find yourself with more detailed questions?  Shoot us an email at info@haugenconsulting.com. We will be happy to discuss the changes with you and their specific implications for your business.
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PANAMA CANAL DRAFT RESTRICTIONS… The Panama Canal Authority has been closely monitoring the water levels of lakes Gatun and Alhajuela in order to determine if draft restrictions are to be needed as a result of an “El Nino” weather event. This weather phenomenon typically results in a reduction in rainfall in the area, causing the water levels of lakes Gatun and Alhajuela to fall below average levels. The Panama Canal has prepared a daily adjusted short and long range forecast in order to predict lake water levels. If it is determined that draft restrictions are necessary the appropriate parties will...
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Maritime Industry News…In Brief

SUEZ CANAL . . . The new Suez Canal which is due to open on 6 August 2015 will increase the capacity of the existing canal allowing ships to pass north and south concurrently. The long term goal is to increase the daily average of transiting vessels from 49 ships presently to 97 ships by the year 2023, and increase the permissible draft to 66 feet. The waiting time is expected to be shortened to three hours (as opposed to the current 8-11 hours) and transit time will be cut to 11 hours (instead of 18-22 hours). www.suezcanal.gov.eg/nc.aspx PANAMA CANAL...
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EMISSIONS REGULATIONS  . . .  Hong Kong has announced that its emissions regulations for ocean going vessels will be ready to take effect from July 1, 2015.  The regulation requires fuel sulfur content  not to exceed 0.5 percent while at berth in Hong Kong (except during the first hour after arrival and the last hour before departure).  Breach of this regulation will result in a $25,000 fine and six month jail term for owners and masters.  Records of fuel switching must be maintained for three years. On 1 January 2015, MARPOL Annex VI, Regulation 14.3.4 came into effect, lowering fuel...
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Maritime Industry News…In Brief

ELECTRONIC BILLS OF LADING . . .BIMCO’s new charter party clause for electronic bills of lading provides a contractual solution for the creation, transfer and surrender of electronic bills. The clause states: “(A) AT THE CHARTERERS’ OPTION, BILLS OF LADING, WAYBILLS AND DELIVERY ORDERS REFERRED TO IN THIS CHARTER PARTY SHALL BE ISSUED, SIGNED AND TRANSMITTED IN ELECTRONIC FORM WITH THE SAME EFFECT AS THEIR PAPER EQUIVALENT. (B) FOR THE PURPOSE OF SUB-CLAUSE (A) THE OWNERS SHALL SUBSCRIBE TO AND USE ELECTRONIC (PAPERLESS) TRADING SYSTEMS AS DIRECTED BY THE CHARTERERS, PROVIDED SUCH SYSTEMS ARE APPROVED BY THE INTERNATIONAL GROUP OF...
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EBOLA VIRUS . . . Ebola has caused more than 3,300 deaths in west Africa, predominantly in Liberia, Sierra Leone, Guinea, and more recently in Nigeria. This pandemic impacts shipping contracts and as well as individual Port State Control (PSC) guidelines for vessels arriving from Ebola infected countries. In general, PSC checks a vessel’s last 10 ports of call and grants approval for disembarkation of crew and guards provided 21 days have elapsed since the Vessel’s call to an affected country. Vessels that have confirmed cases of ebola on board are placed in quarantine. Contracts treat this delay differently based on the...
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Maritime Industry News…In Brief

In order to remain abreast of the maritime world, Haugen Consulting reviews the pertinent shipping news articles from around the globe and summarizes them for the busy industry member…in brief.   ESHIPS BOUGHT BY OLDENDORFF…The UAE-based tanker and drybulk shipowner and operator has been purchased by Germany’s Egon Oldendorff in a move to bolster their Middle East operations.   Although not fully realized, Oldendorff will take control of their business with the goal of generating “long term dry bulk freight contracts” with clients. STOLT TANKERS PROFITS DOWN…Stolt-Nielsen (SNI) reported a net profit of only $30.8 million for this quarter after last...
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