The Wire - Issue 2, June 2009 - Ship brokers

The Wire is ITIC's e-newsletter. It is published and sent to insured members of ITIC and their brokers several times a year, with each issue focusing on a different area for transport industry professionals. This issue was sent to all ship brokers.

31/05/2009

Welcome to the shipbroking edition of The Wire.

Inevitably, recent times have been dominated by the fall in shipping markets. These articles, therefore, mainly reflect the difficulties created by the current economic situation. Many brokers have experienced problems collecting...

31/05/2009

Problem Valuations

In the current market it is inevitable that some principals will simply be disappointed by the broker’s view of what their ship is likely to obtain. The fall in values may create issues due to the terms on which the vessels have...

31/05/2009

Rule B Attachments and Shipbrokers

Peter Clark www.navlaw.com The recently reported Harvey Mullion v. Caverton case, 2008 AMC 2361 (S.D.N.Y. 2008) raises a point of some importance to those engaged in the shipbrokerage...

31/05/2009

Commission on renegotiated Charterparties

The current market conditions have led to a number of charterparties being renegotiated. The new business that emerges may simply be at a different hire rate or for a different period. Another common situation is that a new...

31/05/2009

Missed Messages, Claims and Notices - Practical Loss Prevention Advice

The volume of emails received by some shipbrokers is simply staggering. The missing of time sensitive messages, out of the hundreds received daily, is a major source of claims against shipbrokers. The penalty for failing to pass...

31/05/2009

Mediation - A natural role for Shipbrokers

The Baltic Exchange and the London Maritime Arbitrators Association ("LMAA") are currently promoting a mediation scheme. Mediation is a form of assisted negotiation and involves the appointment of a mutually acceptable...

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