The UK P&I Club have received the following update from local correspondents.
On Monday 14th August 2017, the Central Bank of Yemen issued a circular to all banks in Yemen instructing them to float the local Yemeni currency of Yemeni Rial "YR". The Central Bank of Yemen instructed local banks to use the market rate instead of fixed Central Bank rate. As a result, current exchange rate of YR 250 to the one US Dollar is expected to reach more than YR 370 to the one US Dollar.
Yemeni ports status as of 15th August 2017 as follows:
The preparation of cargo holds for the next intended carriage is a critical operation which requires careful planning and execution; this article considers a number of legal issues which may arise, including terms commonly used in charterparties to describe the cleanliness of cargo holds, the consequences of failing to comply with such terms, potentially resulting in off-hire claims and damages, and the role of the independent surveyor.
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.
The UK Club has received the following update from local correspondents, Huatai, regarding administrative penalties imposed on ships that fail to sign SPRO agreements when calling at Chinese ports.
