Shipbuilding Contracts - the value of Defence Club cover
Shipbuilding over recent years has shown a dramatic increase in terms of ship numbers and also the yards involved. The subsequent financial crisis of 2008 has led to a rise in the number of disputes under newbuilding contracts, as shipyards which took on a significant number of contracts find themselves
racing to meet delivery deadlines, or running into financial difficulties as credit lines dry up.
Although shipbuilding contracts are frequently based on one of a number of standard forms, in reality each contract is different with terms varying widely. The contract terms will be dependent on the yard, the type of ship involved, the financing arrangements, and the buyer's requirements for compliance
with specifications and design, quality of workmanship and delivery timing.
The attached review summarises some of the areas in which disputes can arise.1
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UK Defence Club: Shipbuilding Contracts - the Value of Defence Club Cover (318 KB)
The UK P&I Club recently held a Webinar on the subject of Mooring operations and safety; the Webinar received overwhelming response with about 2350 registrations from 78 countries.
Hold preparation is probably the most vital part of bulk carrier operations; if it is not undertaken properly, it can result in substantial cargo claims, delays, additional cleaning, survey costs and expensive off-hire disputes.
During the initial stages of the voyage, the vessel encountered heavy weather, with spray and seas shipped on deck and all hatch covers over a period of 8 days; this video explores how this affected the maize cargo.
