It has not been unknown in recent years for some of the largest and well known Charterers to fail with little, if any, warning. When this happens, Owners who are owed money by their Charterers, for example for unpaid hire, may find themselves with limited options for the recovery of their losses. Where the Charterers are insolvent or have no assets, it is likely that recovery will be remote.The following steps should be taken into consideration to ensure that the Charterers pay their hire and Owners are protected as much as possible:
The dangers associated with the carriage of solid bulk cargoes are undoubtedly one of the decade’s hot issues in the shipping industry. Some of the titles that circulated over this decade convey the alarming threats that have shaken the dry cargo-shipping sector, such as: “Cargo liquefaction still a problem”, “Club move to stop liquefaction losses”, “Crew safety should come first”, “Dealing with the unusual”, “Drive to cut liquefaction losses”, “Handle with care” and “Preventing liquefaction tops concerns”, to name a few.
Further to our update of 7th February 2017 on the privatisation of Limassol Port, the latest information on the situation is as follows:
- On 9th February 2017, EuroGate (the majority owner of the new terminal operator) announced that it would not charge for storage from the day it took over the container terminal on 29th January, until 19th February 2017. It has been reported by the local press that the new operator is also seriously looking at the new increased non-regulated tariffs they have imposed, and are revaluating these. It stated that the productivity of the terminal is already better and will continue to improve.