Grade 11 – Maritime Economics

September 7, 2016

Chartering Procedures

A cargo owner needs cargo moved (or a ship operator needs an additional ship.) He engages a shipbroker who finds suitable ships. After meticulous checking of the ships, the charterer chooses a ship, and via the broker, makes a FIRST OFFER. The ffirst offer includes charter/freight rates and other conditions […]
September 7, 2016

Ship scrapping (also known as ship recycling)

Ships are scrapped when they come to the end of their economic lives i.e. it costs a lot to maintain them. Some charterers will not want to charter an older ship, especially if insurance surcharges apply to cargo shipped in an older vessel. Scrapping is often hastened by low charter […]
September 7, 2016

Shipbuilding

Shipbuilding is a high-profile, labour-intensive industry. To establish a shipyard with its launching “ways” and highly technical planning offices and workshops requires much capital and highly skilled naval architects, engineers, electronic engineers, technicians and artisans, especially shipwrights, precision welders and heavy-current electricians. In short, shipbuilding is one of the top […]
September 7, 2016

Ships’ Agency Operations

Every ship entering harbour must have an agent. The shipowner appoints the agent in each port of call. (NOTE : If the ship is on charter, the charterer may appoint an agent in a port of call to look after the charterer’s interests.) However, a ship’s agent represents either the shipowner […]