Ship management

30/11/2017

A general guide to ship manager’s undertakings

ITIC is often asked by ship managers to comment on the wording of a “ship manager undertaking” or “letter of undertaking” (LOU) which they have been asked to sign. This is a situation which has become more relevant in the...

30/11/2017

Ship Management International column November/December 2017 - Beware changes to contracts in German jurisdiction

The following article appeared in the November/December 2017 edition of Ship Management International. Matthew Offers talks about the changes to contracts in German jurisdiction.

02/11/2017

Press Release: ITIC settles off-hire dispute resulting from ship manager’s negligence

International Transport Intermediaries Club (ITIC) recently settled a claim brought against a ship manager for failure to maintain its obligations under a technical management contract, leading to liability for costs incurred when the vessel was denied permission to berth by port authorities in Australia.

10/10/2017

Ship Management International column September/ October 2017 - Know which insurer you are getting into bed with

Stuart Munro, CEO of ITIC, explains why ship managers need to take time to understand who insures the ships they manage...

30/06/2017

Press Release: ITIC pays out for pool manager’s acceptance of unacceptable tanker

International Transport Intermediaries Club (ITIC) has highlighted the costly consequences of a shipping pool manager’s failure to accurately describe a tanker, leading to a substantial claim by charterers.

16/06/2017

Ship Management International column June 2017 - Survey yourself out of distress

The following article appeared in the May/ June 2017 edition of Ship Management International. Robert Hodge explains why, in a difficult market, it is important for ship managers to carry out pre-management vessel surveys.

25/10/2016

Press Release: October 2016 - ITIC warns that failure to follow lay-up procedure can be costly

International Transport Intermediaries Club (ITIC) has reported a case in which a lay-up manager was held liable for a $250,000 contribution to a claim for extensive damage to a vessel whilst in lay-up.

12/10/2016

Ship Management International column October 2016 - Reports alone are not enough

The following article appeared in the September/ October 2016 edition of Ship Management International. Stuart Munro explains why ship managers should ensure that important information and recommendations about deficiencies are confirmed in writing

16/08/2016

Ship Management International column - Virtual robbery

It is a fact that violent crime has significantly reduced over the last few years. Why is this? Criminals have not changed; they still want to get their hands on your money. The answer is that it is easier stealing money in cyber space than robbing a bank in the real world. Shipping will always be an attractive target for fraudsters because of its international focus. ITIC has seen this trend of cyber fraud ever increasing, particularly involving fraudulent emails. The average cost of these frauds is US$120,000...

12/07/2016

Event: Singapore ship management seminar, Tuesday 16th August 2016

ITIC would like to invite you to a risk management seminar, in Singapore, to share their claims experiences, having insured ship managers for over 30 years...