Letters of indemnity (LOIs) are common in the shipping industry and are often used to ‘oil the wheels’ where a charterer wants to do something that does not fall squarely within the terms of the charterparty. The owner may be willing to comply, as long…
Careful drafting of LOI invocation clauses in charterparties avoids later surprises Read More »
A black flag showing a skull and crossbones automatically flashes through our minds each time we read or hear the word ‘piracy’ – I suspect that there must be a neurolinguistic programming into our minds since we were in our youth. Whilst reading comic…
Ships’ recycling activity could be much more brisker if more tonnage was available for sale. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “as we enter the seasonal Diwali festivities, the true meaning being the celebration o…
Demolition Activity Will Pick Up Pace If More Tonnage is Offered Read More »
The sale of Sam (formerly Zoya 1), an almost 25-year-old 300,500 DWT crude oil tanker, marks the end of the fourth longest streak of zero VLCC demolitions in history, this time lasting 512 days. The last VLCC to be demolished was the 300,361 DWT “Watba…
Sale of 25-year-old VLCC ends 512 days demolition draught Read More »
Why container lines might not want a return to business as normal. The heart-lifting scientific breakthrough for a potential COVID-19 vaccine is now diverting the world’s attention to the logistics of how will it all be moved when it becomes available….
Will carriers fold a winning hand? Read More »