Trading Operation Hot Topics

“OPEC is the oldest surviving intergovernmental organization composed wholly of developing countries.” Secretary General, Abdalla S. El-Badri, OPEC

As the impact of Covid-19 builds by the day, supply chains are being significantly disrupted and businesses' rights and obligations under contracts are coming into sharp focus. By: Faye Moore (Legal Director/ Pinsent Masons)

The global shipping industry will inevitably be affected as the virus spreads globally at an alarming speed. The World Health Organisation has now declared the outbreak a Public Health Emergency of International Concern. ..............

Incoterms - Trade Terms are key elements of international contracts of sale. They tell the parties what to do with respect to carriage of the goods from buyer to seller, and export & import clearance. They also explain the division of costs and risks between the parties.

Protection is required for the safe working of seafarers and ships, and indemnity is necessary to compensate for any loss of life, environment and property. P & I club is an association composed of ship owners members to support seafarers’ safety and well being by providing the required necessities.

Bill of lading is a receipt for goods either received (before shipment) or shipped on board cargo ship. It provides good evidence of the existence and terms of a contract between the shipper and carrier . (A contract of carriage may exist without issue of a bill of lading, however.) Problems may arise handling a bill of lading. Summarized below some basic procedures need to be followed by ship master .

Laytime disputes and demurrage claims under charter parties are the stable diet of shipping and maritime lawyers globally. The payments and receipts of monies as demurrage or post fixture claims being recognized well both by tanker owners and charterers not only as devices encouraging efficient usage of time in loading and discharging operations but also as hedges against fluctuating freight markets.

A bill of lading is a document that details a shipment of goods, which is picked up by a carrier from a shipper......

The International Chamber of Commerce (“ICC”) has announced the publication of Incoterms 2020. This is the first update to Incoterms since they were last revised in 2010. The new rules become effective from 1 January 2020.

Hedging is the practice of strategically opening new positions to protect existing positions from unpredictable market movements.

App for Demurrage Calculation for Android Devices

There are different tanker sizes used for the international transportation of oil, from a modest coastal tanker to a VLCC or ULCC Supertanker. 

In this case, the vessel Owners failed to provide the Charterers with all documents in support of their demurrage claim within the 90-day time period provided under the charterparty.

What is LNG, and why does it matter so much to the U.S. and global energy industry? LNG is liquefied natural gas, gas that has been cooled to a liquid state (at about -260oF), which enables the transport of natural gas by ocean tanker, rather than the traditional pipeline that moves natural gas across large distances. Posted by Kevin Adler on Apr 29, 2019 8:00:00 AM

Knowing Sea Route and Distance between ports

Chartering is an agreement, whereby one party, the owner, puts a ship or a part of it at the disposal of another party, the charterer, for the carriage of goods between named ports.

Arrest of a vessel is part of the process by which an Admiralty Court gains jurisdiction over the subject matter of a lawsuit. These lawsuits are known as "in rem" actions meaning that the action is again a "thing" rather than a person.

For cargo losses , the ship is to blame only about 10 percent of the time when there is a delivery shortfall. About 80 percent is caused by suppliers (or ‘sellers’) at the load port. The remaining 10 percent can be attributed to receivers (or ‘buyers’) at the discharge port.

Ballast water has been an integral component of the ship’s stability since the steel-hulled vessels have been introduced.

Tensions in Middle East shipping lanes have continued to escalate after the US unilaterally pulled out of the joint comprehensive plan of action (JCPOA) nuclear treaty and reimposed sanctions on Iran.

In oil trading among many services we can see or hear about them is one called loss control. Older operators are well familiar with this service, while younger often fail to understand what exactly this is.

A port or berth will not be safe unless, “in the relevant period of time, the particular ship can reach it, use it and.......