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EMCO Latest News…
Word Of Mouth
Owners, once considered to be serious first class players with unblemished records, are today even finding themselves in default, having been let down by their counterparties or exposed to expensive newbuilding contracts... Read More
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The Busy "B"
As a result of the international economic crisis, the shipping sector has seen a flurry of disputes evolving from cancelled charters, non-payment of charter hire, early re-deliveries and many more such types of disputes causing Ship Owner – Charterer relationship breakdowns. So what are shipowners and disponent owners doing in order to assist in recovering their dues? The fashionable answer appears to be Rule B applications, but the question is for how long? Read More...
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Ship Managers: Are you Managing your Exposure?
Anyone involved in shipping will know that this is an industry fraught with traps for the unwary, especially since the trend over the past few years has been not to tolerate mistakes.
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International Conventions: A False Sense of Security?
Quite often parties are extremely surprised when the outcome of a particular case is completely contrary to all their expectations. Read more on how to avoid this pitfall…
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Pitfalls of Letters of Indemnity
The Australian case of Pacific Carriers Limited -v- BNP Paribas (2004) highlights the importance of the attention that should be paid to the exact wording of the LOI. Read more...
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Ship Values: How much will your Underwriters pay for a total loss?
This article examines the amount (if any) which an assured (usually a shipowner) will be entitled to recover from his H&M underwriters in case of a total loss of a vessel. Given the rapid change in ship values, it is essential for a shipowner to ensure that the amount which is paid to him by his underwriters is sufficient to indemnify him for the purchase of a replacement vessel. Conversely, if the market turns and ship values deteriorate, the shipowner must be aware what amount will be recovered from underwriters. Read more…
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EMCO expands its service range
Elias Marine Consultants (EMCO) of Limassol has expanded their range of services to include technical advice, inspections and other vessel surveys. Read more…
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