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03/03/2008
A bunker broker received an order from a ship operator for a stem of fuel oil and marine diesel oil. The operator provided the specifications and quoted the bunker clause from the relevant charterparty which stated, “Bunkers to...
Venezuela, in common with many countries, has regulations to protect domestic shipping. Foreign flagged ships can obtain a permit when there is no local tonnage capable of performing the required service within Venezuelan waters....
An FFA broker was negotiating a Panamax contract for December. The negotiations were slightly unusual in that they took place in December, once the month had already started. The principal had done relatively few FFA transactions...
A shipbroker member of ITIC fixed a tanker for a voyage from the Black Sea to Singapore. Delays at the discharge port resulted in a demurrage claim of USD 217,000. The charterparty contained the usual provision that any...
A bank appointed a surveyor member of ITIC to confirm the value of a vessel under construction and to certify that additional funds could be drawn down during the construction period. The bank confirmed that the role of the...
ITIC’s member designed some bollards to be placed in a north European port. Most of the bollards were welded into position and were satisfactory. A small percentage of the bollards were to be removable for use with roll on roll...
A naval architect member of ITIC designed two vessels to be built to US Coastguard rules for work in the Gulf of Mexico. Shortly before the completion of the first vessel, the member advised ITIC that it had made an error the...
Members acted as technical and commercial managers for a ship that was on a time charter. The fixture still had about three years to run at a daily hire rate of USD 15,250. The charterparty contained a clause which provided that...
01/03/2007
A vessel was fixed on voyage basis from one Indian port to another. During negotiations, before the owners made a firm offer on the freight rate, they asked their broker whether Indian freight tax would be the same for cabotage...
A port agent in a small port on the south west coast of England was appointed by a German ship owner to attend the call of a ship. The quay where the ship berthed was privately owned. The port company made two charges; moorage...