During an earnings call for Diana Shipping’s Q3 2012 Results, an analyst posed a question on “eco ships” and what the trade off looks for new versus used since it relates to more fuel efficient level. According to Anastasios C. Margaronis, president of Diana Shipping Inc., fuel-saving ECO ships are not likely to provide shipowners with major savings.
UK P&I club issued an article today regarding a recent case to extort funds through fraudulent invoicing. The fraud was revealed when an accounts clerk and the master of the vessel targeted discovered the false invoice. Mentioned vessel was billed for “Harbour and General Port services” however the itemised bill, including MARPOL discharge costs, were covered by the usual ports dues.
According to Greek press as German shippers are loosing market share, a driven request of the European Commission is meddling with the Greek shipping tax system. The European Commission asked Greece to clarify the workings of the tax system for its key shipping industry which is run by some of the wealthiest people in the bailed-out country. “The commission is currently looking at the tonnage tax and has asked for details from Greece,” the office of European Competition Commissioner Joaquin Almunia said. Greece has until October 30 to reply.
Moore Stephens annual OpCost report for the financial year of 2011 has been released this month. According to OpCost 2012 report the total annual operating costs in the shipping industry have been increased by an average 2.1% in 2011. This compares with the 2.2% average rise in costs recorded for the previous year. Crew costs were the main reason for the overall increase in 2011, a 3.3% overall increase in 2011 crew costs compared to the 2010 figure has been reported. Insurance fell for the second year in succession.
INTERTANKO’s Executive Committee (ExCom) recently held its third meeting for 2012 in Rome, Italy, focusing on the major issues currently facing independent tanker owners such as tanker market sustainability, piracy, ballast water management and air emissions. Participants expressed concern over the state of the tanker industry and the rising costs of shipping, which are considered the most crucial issue facing INTERTANKO’s Members. They noted that, while independent owners acknowledged to have contributed to the problems by over-ordering, current market levels could actually endanger the supply chain element of safe, sustainable transportation of oil, products and chemicals.
Demand for low sulfur bunkers in the U.S. has risen to as much as 50% of the total U.S. market since the August 1, 2012 introduction of the North American Emissions Control Area (ECA), according to a Platts Podcast. All ships operating within the ECA, effectively a 200 nautical mile zone off the U.S. and Canada coastlines, must use a marine fuel with a sulfur content not exceeding 1.00% by weight.
Last April amendments to increase the limits of liability in the 1996 Protocol to the Convention on Limitation of Liability for Maritime Claims (LLMC Convention) were adopted by IMO’s Legal Committee, at its 99th session (16-20 April 2012).
The LLMC Convention sets specified limits of liability for two types of claims against shipowners – claims for loss of life or personal injury, and property claims (such as damage to other ships, property or harbour works). Taking into account the experience of incidents, as well as inflation rates, the limits set in the 1996 Protocol have, in recent years, been seen to be inadequate to cover the costs of claims, especially those arising from incidents involving bunker fuel spills.
Last month we posted about the plans of the Panama Canal to increase toll chargers and the complaints expressed by the International Chamber of Shipping . Now the Panama Canal Authority’s Board of Directors, after carefully evaluating the observations and suggestions provided by interested parties, has considered it appropriate to adjust the original proposal to modify the tolls system of the Panama Canal.
Plans to increase toll charges for the Panama Canal are ‘rushed, excessive and likely to cause further problems for shipping companies’ given the fragile state of economic recovery, say shipowners.
The International Chamber of Shipping has sent a strongly worded letter to the Panama Canal Authority (ACP) describing plans to increase tolls by up to 15 per cent as ‘simply unacceptable’.
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Officer of the Watch 