The Claims Review - Issue 18, March 2008

Welcome to the Spring 2008 edition of the ITIC Claims Review, which is published to coincide with the March 2008 meeting of the Club’s Board of Directors. In addition to the usual range of interesting cases that the Managers have encountered over the past few months, we also draw your attention to the ITIC Forum 2008, to be held in London on 1st and 2nd October 2008. We also give you advance notice of the Managers’ forthcoming change of address.

Claims Review 18

03/03/2008

The FONASBA quality standard for ship agents and brokers

In order to assist shipowners and operators to identify those agents and brokers that are knowledgeable, have experience, a good financial standing and background and a demonstrable and tangible commitment to quality, FONASBA has...

03/03/2008

When is a major not a major?

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...

03/03/2008

Beware of local laws

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....

03/03/2008

A foul up on paper

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...

03/03/2008

Unusual demurrage notification

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...

03/03/2008

Settle now or pay later

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...

03/03/2008

The wrong bollards

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...

03/03/2008

The true cause of vessel instability?

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...

03/03/2008

Failure to consider off-hire provisions

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...

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