Posts Tagged ‘maritime’
Difference between Demurrage and Detention
Estimated reading time: 6 minutes For those in the business of shipping, delays can be costly. It is common practice for ship-owners to charter vessels in return for freight. When…
Read MoreWhat is the International Safety Management (ISM) Code?
Estimated reading time: 5 minutes Global oil and gas terminals today are faced with multiple challenges. With the recent introduction of the IMO 2020 Regulation: Standards, Compliance and…
Read MoreNotice of Readiness for Laytime Calculation (With Real-Life Case Study Example)
Estimated reading time: 5 minutes Laytime and demurrage are one of the most litigious issues in shipping. The terms in the contracts are tricky as it is commonplace that…
Read MoreWhat is laytime and lay day in shipping?
Estimated reading time: 4 minutes Laytime and lay days are two shipping terms that often get mixed up as having the same meaning. Although they sound similar, they differ…
Read MoreHow Are Subsea Wells Drilled
Estimated reading time: 5 minutes Subsea drilling, or offshore drilling, is a process where a wellbore is drilled below the seabed for the purpose of oil excavation. Subsea drilling…
Read More5 Tips to Minimise Unexpected Demurrage Fees
Estimated reading time: 5 minutes Laytime and demurrage are traditionally one of the most contentious issues in the shipping industry, owing to the frequency with vessels are delayed in…
Read MoreBest Practices for Commissioning Offshore Projects
Estimated reading time: 5 minutes Commissioning of mega offshore projects, whether it is an FPSO, a GBS, a steel jacket or other concepts, is a large and complex undertaking…
Read MoreCharter Party Contracts: Practical A-Z Guide to Laytime and Demurrage
A charter party (commonly abbreviated to “C/P”) is a document containing the written terms of a charter agreement between a shipowner and a charterer. The terms of the contract will…
Read MorePractical A-Z Guide to Laytime And Demurrage 2018
Laytime and demurrage comprise one aspect of English maritime law in relations to voyage charters. ‘Laytime’ refers to the period of time agreed between the parties during which the…
Read MoreMaritime Safety In Singapore Strait
Two fatal collision occurred in the Singapore Strait, resulting in the death of twelve sailors and potentially adding three more to the equation. The collision occurred on 21 August and…
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