Guy Campbell

In the context of the Baltic Exchange’s potential acquisition by Singapore Exchange (SGX) an agreement, which documents and reinforces existing processes established by the Baltic Exchange and its 48 shipbroking panellists, has today (25 July) been sent to each firm for signature. The proposed agreement, which will become effective on and subject to completion of the acquisition, formalises the relationship between the Baltic Exchange and its panellists which has been developed over more than 30 years. 

The proposed agreement follows extensive discussions with panellists and stakeholders and will now facilitate the finalisation of an offer for the Baltic by SGX. The Baltic Board expects this agreement to be welcomed by the panellists as it offers both parties, end-users and the wider Baltic membership assurance with regard to the future production and governance of the Baltic indices.

Baltic Exchange Chairman Guy Campbell said: “Formalising the arrangements between the Baltic Exchange and its panellists is an important step that enables the offer discussions with the Singapore Exchange to move forward. We have listened and taken on board feedback from panellists and have drawn up an agreement that we believe meets all parties’ aspirations. Baltic Exchange information underpins the global bulk shipping markets and this agreement will also provide a higher level of certainty to end-users of the information.”

A group of members and friends of HESGB including Nikolas Psomas, Dimtris Chalas

HESGB – “MEET THE MEMBERS” @ Mulberry Bush pub

That was an absolutely amazing nuts and bolts* event earlier on …last night at one of Southbank’s best pubs – for some the Number One!

Initially planned for the equally famous OXO, the venue changed due to overwhelming for the season demand, so OXO couldn’t …expand and accept more bookings! Irrespective if a great number of members and friends are down at the land of Xenius Zeus enjoying the uniqueness of the blessed by nature and gods promised land for their holidays, that is to say Greece and its thousands of islands or others traveling for business,  as shipping is 24/7 and the HESGB** members have to attend ships in ports and terminals on in shipyards world-wide over 40 members and friends enjoyed the dips and drinks as well as the unique atmosphere of the Mulberry.

Corina Stephanides, Georgia Fotopoulou with Argiris and Aliki Emmanouilids

Once again mentoring proved the main factor for attending all the events that the HESGB organises focusing always on business, especially for the new generation. It doesn’t matter if yiu are say a banker, or a marine insurance broker, the interwoven business relations with Marine Engineers, Naval Architects is a plus story offering you a wider range of business options and furthering even your own non-marine business!

We were very fortunate to have the invisible, as always paparazzi who managed to take some more than interesting shots, given a prolonged appointment at the other side north of the British capital, but we can settle with this.

George Dimitriou, Nikolaos Kassimatis and Natali Doulgerakis

The pictures have their say; see you after the summer break and watch out for the Hellenic Engineers Society of Great Britain events.

The HESGB is part of the main shipping cluster of the United Kingdom to all intents and purposes. Verify this at the next Annual Dinner and Dance in Februarty 2017!

*Nuts and Bolts: this is how we have baptised the HESGB

**The HESGB is part of the main shipping cluster of the United Kingdom to all intents and purposes. Verify this at the next Annual Dinner and Dance in Februarty 2017, being its 22nd Anniversary!

John Faraclas

The BDI (Baltic Dry Index) lost 14 points  today  standing at 665 –  a point below the most sacred number of numerology… so the curse has gone… Geopolitics are increasingly worrying even for the warring ones; John Faraclas daily recap:

• The Capers’ BCI 2014 lost 23 points falling below the 800 point mark and now at 780 pauses more uncertainty unless a seasonal correction takes place later on…
• The Panamaxes were hit with 33 points downwards and the BPI reads 719!!!
• The Supras’ BSI lost eight points and at 676 hopes to avoid major loses…
• The Handies …outperforming all expectations gained four points and the BHSI stands at 396 – close to go over and above the 400 threshold, and why …not.-

Wonder what the analysts say and have in mind of what’s the best way forward in this falling, uncertain and unsustainable dry market! I just wonder…

• The Wets too weren’t that encouraging, particularly the Dirties. The last published BDTI and BCTI stood at 559 (down eight) and 464 (up two) points respectively.
• The price of WTI, as these lines are written, stands at US$ 41,11 – a nice fall for the masses but a terrible result for the oil companies and others… The Energy War too will be played in a very unorthodox fashion and style; just wait and see – you see the pipe lines cannot sustain the peace a few silly morons thought… yes with an emphasis on the phrase “silly morons”…

Many companies financial results are in jeopardy and it remains to be seen how well placed the principals who run these listed (in particular) companies are and what weapons they will unlease in their finacial negotiations with their financiers. A few will go through – this I can guarantee, but many wil end up into pieces… Very few owners  possess  shipping business intuition and very few financial institutions know how shipping operates.

Let’s go to Geopolitics were things are getting worse every single day – soon it will be every hour:

Migrants, the most important of all issues. Mrs. Merkel backtracks from fear of a social upturn in Germany and says she will introduce new measures to improve security, but no reduction or reversal… History and Nemesis will be her toughest judges one day, and quite soon; just wait and see… With all due respect, but you have too many skeletons in the cupboard Mrs. Merkel! There is also the Pandoras’ box of revelations, never forget this!

Introducing security measures to safeguard the public as well as places of worship (churches, synagogues, temples etc.) all over Europe – France, Germany, Belgium, the UK, the Netherlands, Spain, Italy to name but a few EU states will dynamitize the fundamentalist clerics who in turn will ask their terrorists sects to move and create havoc – the normal practice they are doing decades now, but this time it will be in a wider scale. These sleeping ducks are those responsible for what the world goes through!

BREXIT, in my humble view will prove as we have stated many times to the benefit of the United Kingdom and its Commonwealth – the biggest and most powerful economic and trading power house-bloc all over Planet Ocean.  Pleased to read a few hours ago the EDF nuclear power plant investment in UK’s Hinkley Point in Somerset! 18 billion pounds sterling!

The Shipping Industry too, the biggest asset of the British Capital will open for more jobs and investments.

GREXIT will follow soon, they like it or not, it’s inevitable to happen and I bet on this! Greece’s prime minister lost the biggest chance; he is not what  even his foreign backers thought off. He will soon succumb to the harsh reality. It is too much of what the Greek people are going through traumatising their dignity. Let’s provoke him then: Can he bring here and now to the dock all those who embezzled the Greek Nation’s money; all those who destroyed, say the country’s shipyards, eh! Can he do Katharses (a very Greek word after all) here and now; not next year, NOW. By the way Mr. Tsipras, Now means something without duration!

Turkey continues to slide to an Islamistic State with incalculable repercussions for its people and its periphery. It’s about time this situation comes to an end before it is too late of Turkey’s backers too.

ISIS behaviour as we explicitly stated yesterday gradually will lead to hostilities, so let’s be on guard.

In the meantime, president Putin of Russian is closely watching, with his unique style  and knowledge, all the developments and he will interpret same in the  way he wants so he can enter the arena of War…

On the other side of the Atlantic Mrs. Hillary Clinton must do the impossible possible to be elected and form the best administration to tackle – give appropriate solutions to all of the world’s demanding problems. She must tell us her plans of how her administration will run the wolrd affairs and contain the spillage of fundamentalist Islam, the danger that consecutive US administrations allowed to flourish!

China must come to terms with reality, as on the one hand its methods have completely destroyed the West’s labour markets – production, employment, shipyards… and from the other hand she plays foul with legalities of international law fully condemning its actions. Ah! and what about the joint naval exercise with the Russian fleet this coming September in the South China Sea? The South China Sea might cause an unexpected Tsunami!

Remind you of our yesterday’s Warring article and Market report – study both so as to help you fully understand the above.

Will revert with an update later on and more news; until then enjoy the rest of the lovely London sunset! Enjoy this lovely English weather!

John Faraclas

You might think otherwise, but given that the same sizes that have fallen yesterday, lost  also today and only one was…up, then I am pretty sure that you too will interpret  same as a “coordinated” fall; don’t ask on Geopolitics where the Diplomatic Corps become corpses… John Faraclas reports:

• The BDI (The Baltic Dry Index) lost another five points today and now stands at 636 points!
• The Capers, alike yesterday gained one point and the BCI 2014 stood at 759 points. The only size with a plus, even one point is important and counts!
• All other sizes lost; the Panamaxes lost seven points and the BPI now reads 641 points.
• The Supras’ BSI lost six points and now stands at 654;
• The Handies’ BHSI lost just two points and reads 395.

So all in all, once again a falling dry market. Caution.

• The Wets too on a falling modus; the last published BDTI (Dirties) lost eight points (now reading 515)  and the BCTI (Cleans) lost one (now reading 458) respectively.
• The price of WTI, as these lines are written, stands at US$ 41.83 – better than yesterday as below the US$ 40 can create shocks… which in turn will jeopardise the entire energy jargon; mind me it might as well happen…

Some shipowners, both listed and unlisted are having great debates with their banks and the money markets. Those well placed,  with business ethics and great know-how of the shipping adventure, they will succeed; “others” will spectacularly fail, if not now, very soon. Interested parties having seen their attitute is calling their bluff!

Would like to draw your attention to VesselsValue’s team of Valuation Analysts who have put together an excellent and to the point report looking at the Sales  and Purchase  activity in July 2016, providing commentary to how and why values are moving for all ship types.

Headline figures include: $1.6 billion spent on second hand vessels in July 2016 vs $3.1 billion in July 2015, and a net fleet growth of 2 million dwt for the bulker fleet. We would appreciate your comments; please log below and read same:

Monthly Market Overview

Geopolitics: the mess continues in all fronts with the Migrants still being the number one issue; most issues stem from the Migrants saga which is not only the one that enfolds lately – the last ten years, but beyond that! Even last night’s despicable event in London’s Russell Square has its causa proxima on Migrants; sorry, but this is the truth. We will eagerly wait to see the motive and the circumstances of this incident. One woman, Mrs. Darlene Horton, lost her life and five others were injured. Good to see hundreds of Policemen in the Streets of London; a great step towards protecting the public!

More deaths from accidents involving Migrants trying to reach Europe from the Turksih Anatolian Coast and North Africa are reported!

The fight against ISIS continues and good news comes from Egypt where the Army killed, following successful airstrikes, the head of ISIS in Sinai!

President Obama believes ISIS is weakened but still pauses a theat. Our advice, with all due respect is: send the Special Forces in and smash them here and now; don’t leave it too late!

Meantime the presidential race to the White House continues and the combatants have a long way to go; accusations will continue to fly around, a very shameful attitude. Ethics and manners are missing, particularly from Mr. Trump’s side.-

The Syrian despicable war continues and it remains to be seen how the winner will announce its victory; and the cost!

Turkey is being criticised from the one hand by a number of states within and outside the European Union – Europe in general, but also we are not surprised to see others, like the Germans for example using double language… Remember: when Europe is in flames because of Turkey, don’t ask for mercy; we will not offer you this perk… The USA must use all its power and good offices to bring president Erdogan down to his senses before others bring him down to his knees. Russia too must not remain shortsighted either!

As a result of Turkish blackmail, particularly with the Migrants, the Eastern Aegean Greek islands face problems with tourist arrivals.  At a time when Greece’s tourist machine tries its best to level, if possible the winter losses and inactivity, the Migrants create, thanks the Europeans, an unprecedented situation. OK  then, fine: send the lost revenueto the Tourist enterprises there that, because of this Turkish blackmail, lose money!

BREXIT continues to take shape; meanime the lowering of the interest rates offers something! I bet with BREXIT’s success in the  long run. In the meantime, many European Union members will rethink the situation and were same can lead Europe. There are a lot of loopholes and stumbling blocks! Wait and see!

I hope GREXIT too takes place, but above all Greece needs the electoral system we have proposed: Proportional Represnetation, one candidate per party per constituency. The 300 MP’s to be reduced to 200. The 3 centum minimum entry threshold to remain and voting shoud remain at 18!!! (yes eighteen). This  is the most important reform and will give an end to the clientelle-state-party governance.-

The entire Far East region due to the North Koreans, but also due to the Chinese, is in a state of alert as never witnessed before!

Be cautious for the ANC in South Africa cannot have the comfort it enjoyed in the past. These elections and its result will be very decisive!

The 2016 Olympic Games in Rio are about to begin and the IOC has cleared   70% of the Russian team! This is great news because we all expect a tit-for-tat soon….

That’s all for today, tomorrow the weekly major recap follows; until then have a good night!

Prof. Kevin Featherstone

Celebrating 100 Publications!

Visit our Website follow on Twitter |  friend on Facebook |  forward to a friendCopyright © 2014 London School of Economics and Political Science, All rights reserved.

The panel with the Hon Sir Bernard Eder  (standing on the right) introducing the event

Recent Supreme Court decisions, particularly those concerning OW Bunkers (the Res Cogitans) and the Global Santosh came under review at a London Shipping Law seminar on July 21^st.

The OW Bunkers case has been described by Lloyd’s List as “the most spectacular legal imbroglio so far this century.”  The discussion focused on the “true effect of a contract for the supply of fuel oil,” where the suppliers of bunkers to the Res Cogitans, OW Bunkers, had gone into liquidation. Their rights to payment under the contract had been assigned to their bankers, ING, who were seeking to recover their losses arising from the collapse.

OW Bunkers’ terms of contract included an assignment of the right to payment to ING and incorporated a retention of title clause, so that title would not pass until the bank had been paid in full. However, the bunkers could still be consumed on delivery and prior to payment. The bunkers had not been physically supplied by OW Bunkers but by a subsidiary of Rosneft and was subject to their standard terms which included a retention of title clause.

Payment for the bunkers from OW Bunkers to Rosneft was due 30 days after delivery; and payment by the owners of the Res Cogitans to OW Bunkers was in turn due 60 days after delivery.     At the time of the litigation, neither payment had been made.

The transaction was one of many entered into by OW Bunkers, and various shipowners were facing multiple claims from ING and the physical bunker suppliers for payment of fuel supplied to their ships prior to the OW Bunkers collapse. Cases were pending in a number of jurisdictions and the decision of the Supreme Court was therefore of considerable importance to the shipping industry.

Robert Bright QC of 7KBW provided what he described as an insider’s guide to the Res Cogitans decision.  The shipowners had not sought to interplead, which would have been the orthodox approach, but had taken the stance that they owed neither ING nor Rosneft.  They maintained they did not owe ING because OW Bunkers had never paid Rosneft for the bunkers and were never in a position to transfer property and title.   Moreover, they were in breach of section12 of the Sale of Goods Act, by which they had no right to sell the goods at the time when property was to pass.

They maintained they did not owe Rosneft since their claim did not amount to a maritime lien and they had no contract with them. Owners’ only contract was with OW Bunkers and Rosneft had no claim in tort (for conversion) and no claim for unjust enrichment.  Therefore, Rosneft had no discernible claim  under English law.

LMAA Arbitrator Trevor Harrison outlined the bunker industry’s impressions and concerns arising from Res Cogitans, particularly the position of OW Bunkers. He highlighted the growing importance of Asian bunker markets and the “endless permutations” in the structure of bunker contracts. He felt Res Cogitans still mattered in English law but this would not be the case globally with future bunkers contracts. He concluded that shipowners were “in for a rough ride.”

Examining the aftermath, particularly the financial aspects, John Kimbell QC of Quadrant Chambers reviewed the position of ING in attempting to reclaim its debts in the light of the Supreme Court decision in their favour. That decision was largely based on the finding that, on the construction of the contract, OW Bunkers was not contracting to transfer title but to procure the necessary permission from Rosneft, as owner of the bunkers, for the bunkers to be consumed.

Accordingly, the Sale of Goods Act had no application and ING were entitled to payment since there had been no breach by OW Bunkers in their contract with the owners. He considered that ING’s pursuit of summary awards in other London arbitration proceedings, commenced under OW’s standard terms and conditions, would be positively affected.

In the Global Santosh case, the focus was on the law of ‘off hire” provisions under a charterparty and the circumstances in which a contracting party would be responsible for the acts or omissions of third parties in performing the contracting party’s obligations.   Were such acts or omissions sufficient to trigger the off hire clause?

Daniel Bovensiepen of 20 Essex Street considered the vessel’s arrest and the various decisions re parties adjudged at fault in the Commercial Court, the Court of Appeal and the Supreme Court—-and their ramifications..

A key question arising from the Global Santosh case concerned the shipping industry’s perception of the division of risk for arrests, where arrests of vessels under time charter are concerned. Would any loss of time due to arrest or detention resulting from matters for which owners were responsible rest with them and vice versa for the charterers. The essential elements were covered by Simon Rainey QC of Quadrant Chambers. He summarised the “business common sense approach, the majority and dissenting views from the Court of Appeal judges and various other off-hire arrest cases. He maintained that the specific wording of the particular clause defined the parties’ entitlement and not any over-riding commercial construction or business common sense.

The seminar was chaired by the Hon. Sir Bernard Eder and hosted by Squire Patton Boggs at their London offices before an audience of over 100.

Our UK marine training courses for September to December 2016 can be found below, which are taking place in London, Liverpool and Southampton.One of our courses in September is the Hull Inspection Damage and Repair course, with places still available.For more information please contact ukmarinetraining.liverpool@lr.org. Please note that we offer a 5% early booking discount to courses booked 4 weeks prior to the start of the course. Share Tweet Forward Hull Inspection-Damage and Repair This three-day course provides the skills required to help you understand the different types of defects and damage that occur in ship structures.Who will benefit: The course will benefit anyone who carries out inspections of hull structures including superintendents, masters, first officers, chief engineers, ship officers, shipyard personnel and independent surveyors.Dates: London, 27-29 September, price: £1,175+VAT Click here for more information BOOK MRV (Monitoring, Reporting, Verification) Regulation Explained Introducing our new MRV (Monitoring, Reporting, Verification) course. This is globally applicable, for ships over 5000 GT entering EU ports.The EU Monitoring, Reporting and Verification (MRV) of CO2 emissions from maritime transport regulation entered into force in July 2015. From 2018 ships >5000GT entering, departing or operating between EU ports will be required to report their verified emissions reports and other relevant information.At the end of this one day course you will have a better understanding of how to effectively implement MRV (Monitoring, Reporting, Verification) requirements into your organisation.For more information please contact ukmarinetraining.liverpool@lr.org. ISM and the DPA Southampton, 6-7 September Southampton, 16-17 November Price: £940+VAT BOOK ISM Code and the Lead Auditor Liverpool, 13-16 September London, 15-18 November Price: £1,295+VAT BOOK Marine Auditing for Purchasers (IMPA)  London, 19-20 September Price: £850+VAT BOOK Use of Aluminium  Southampton, 21-22 September Price: £940+VAT BOOK ISM Internal Auditor  Southampton, 4-5 October London, 6-7 December Price: £940+VAT BOOK Classification and Statutory Surveys Liverpool, 4-6 October Southampton, 29 November – 1 December Price: £1,175+VAT BOOK Ship New Construction Liverpool, 11-13 October Price: £1,175+VAT BOOK Risk Management and Incident Investigation  London, 11-13 October Price: £1,175+VAT London, 8-9 December Price: £940+VAT BOOK Tanker Vetting & Inspection Liverpool, 18-19 October Price: £940+VAT BOOK

…

Stellar speaker line up for Security Institute Annual Conference & Exhibition 

Now in its 9th year, the Annual Conference & Exhibition is the premier educational event for the Institute, its members and specially invited guests. This year’s Conference will explore the security issues that have arisen in 2016 and which will impact on security practice into 2017 and beyond. With just a month to go we are pleased to announce the presentation subjects of the majority of our speakers:

BOOK NOW

WOMEN IN SECURITY AWARDS 2016

 

This is an ideal opportunity to network with delegates, speakers, sponsors and exhibitors.

Dr. Aleka Mandaraka- Sheppard

The London Shipping Law Centre (LSLC) has underlined its primary aim of bringing together maritime industry representatives  by hosting a networking dinner and drinks reception at this year’s prestigious Cadwallader Debate.

This biennial event, organised by the LSLC, will be held on 26 October at Drapers’ Hall and will be attended by over 250 delegates from across ship owning, ship management, insurance, law, class and regulatory sectors.

This year’s event will discuss the topic, Master Under Attack – Authority And Responsibility In An Age Of Instant Access.

The panel will discuss the legal position of the ship’s Master when tackling the day-to-day pressures of today’s shipping industry and will suggest possible solutions. Problems include erosion of the Master’s authority; the powerful positions of charterers; bullying and harassment by authorities in the port; and the demands of modern technology.

Guests will be welcomed from 5.30pm with a drinks reception, providing networking opportunities.

Founder and Chairman of the LSLC, Dr Aleka Sheppard, will start the debate by introducing Chairman of the Debate Lord Clarke of Stone-cum-Ebony at 6.30pm.

The Debate will then begin with the first speaker Kuba Szymanski, Secretary General of Inter-Manager.

He will be followed by the other four speakers Michael Kelleher, Director, West of England P&I Club; Faz Peermohamed, Partner and Global Head of Shipping at Ince & Co;  Michael Chalos, Partner at K&L Gates (New York); and Jeff Lantz, Director of Commercial Regulations and Standards at the US Coast Guard.

Delegates will have the chance to ask the speakers questions in a short question and answer session, and the Debate will be concluded by 8pm.

This will be followed by a dinner and a further chance to network over drinks with the bar opening at 10pm.

For more information about the debate and how to get tickets, please contact Gerard Matthews on +44 (0) 20 7936 3417 or by email: Shipping@ShippingLBC.co.uk

In support of Arts and Maritime Arts in particular, here is an event not to be missed:  Andreas Theologotis’ “The journey of the Hellenic boats”

A Photography exhibition on September 8th – September 29th, 2016

Meet the artist: Thursday, September 8th, 6:30pm – 8:30pm

at The Hellenic Centre
16-18 Paddington Street
London W1U 5AS

A word for a picture

light
shadow
color
saltiness
rust
detail

reflection
motion
time
navigation
imagination

labor
passion
tradition

art
narration
memory
journey

The history of Greece is deeply rooted in its sea, its islands and its ships which ply the oceans.
Through the lens of his camera, Andreas Theologitis captures the detail of these boats as they are born, live and pass away. Traditional hulls, made by hand, as they have always been made through the centuries, with imagination and unrelenting effort. Metal hulls result of everyday human toil.

Tradition and art, movement and reflection, rust and labor expressed dynamically through the detail of color, texture, material, leave everyone’s imagination free to create a unique image.
The collection “Hellenic Boats” was first presented in Athens in July 2014. In Brussels, in April 2015, it made the journey to the heart of Europe. At the port of Piraeus, land of inspiration for his creator, in May 2015 was enriched with new visions. On the occasion of the European Month of Culture, on May 2016, the exhibition was presented in the Embassy of Greece in Washington DC.
It is an honor that the journey continues during September 2016 here, in the Hellenic Centre in London.

Andreas Theologitis is an architect – urban planner.
He studied in Belgium in the 80′s. The first years of his career he worked in Brussels and had the opportunity to take part in projects that marked the urban texture of the city.
In the early 90′s he returned to Greece where he participated in important architectural and urban projects. He is the coordinator for large commercial and tourist developments, urban regenerations and planning studies in Greece and abroad.
His involvement in photography dates from the “age of the darkroom”.
A man with multiple facets of talent, he quietly observes the world around him. Each time, like a first time. Through his travels, he gives his own view of the world that surrounds him. He experiments with his photographs and adopts a different view of his environment. He creates surprise by transforming simple objects and creates unique views of the objects he loves. In his photographs, the level of abstraction invites everyone to a world of own interpretation. It is a personal need of expression and research beyond rules giving “another view of reality”.

Information on the artist and his work:
The Photography of Andreas Theologitis

http://photography.atheo.eu

https://www.facebook.com/atheophotography

Meet the artist: Thursday, September 8th, 6:30pm-8.30pm. For opening hours call 020 7487 5060.

Esben Poulsson

ICS International Shipping Conference, British Library, London

At the annual International Chamber of Shipping (ICS) Conference in London today (7 September) – in the presence of IMO Secretary-General, Kitack Lim – the new ICS Chairman, Esben Poulsson, suggested that the shipping industry must respond proactively to three major challenges:  maintaining the authority of IMO; addressing the legitimate demand for even greater levels of environmental protection; and making policy makers better aware of the industry’s existing achievements. 

With respect to protecting the global maritime regulatory system, provided so successfully by IMO, Mr Poulsson said this is being challenged by the increasing tendency for EU Member States’ positions to be co-ordinated by the EU, with negative impacts on the quality of IMO debates and its decision making.

An example of this was the current discussion at IMO about the establishment of a global CO2 data collection system, which the EU is seeking to align with a regional regime for shipping which it has already adopted through regional legislation.

The ICS Chairman warned of the danger of the ‘politicisation’ of IMO debates, instead of decisions being taken on the basis of their technical merits.  He added that nations such as the United States are taking similarly impractical, highly political stances with respect to issues such as the implementation of the IMO Ballast Water Convention (virtually certain to enter force next year) by refusing to accept decisions that have been taken at IMO by other Member States.

Mr Poulsson cautioned: “Unless we are very careful, IMO could eventually be reduced to merely rubber stamping decisions which in reality will have been taken elsewhere, whether in Europe, the United States or by the emerging powers in Asia.”

Mr Poulsson then focused on the demands of society at large for increased environmental performance. “This is one area where politicians can legitimately claim to be representing the views of the ordinary person with regard to concerns about the environment.

“We must be proactive in demonstrating that we are doing everything that we can to achieve a zero accident rate and pollution free environmental record, even if at present these goals are not fully achievable.  We must respond to these genuine environmental concerns by supporting the development of progressive solutions at IMO, and acting constructively and with foresight on the understanding that society at large now expects far more from us.”

He concluded his first major address, since election as ICS Chairman, by encouraging the shipping industry to continuously ‘raise the bar’ – emphasising that the reputation of shipping, and the respect which national politicians have for unique institutions such as IMO, ultimately depends on the industry’s safety record and environmental performance.

“We have to accept that society at large now expects far more from us, and even the smallest deficiencies will no longer be tolerated.  Core to this is the question of how we are perceived by others, and whether the recognition our industry enjoys among policy makers and politicians needs to be further enhanced.”

As well as a keynote speech by the IMO Secretary-General, the ICS Conference included detailed presentations and discussion on many key issues in which ICS is currently involved on behalf of the global industry including the reduction of CO2 emissions, ballast water regulation, the threat to limitation of shipowner liability, seafarer supply, and overcapacity.

THE London P&I Club is celebrating its 150th anniversary during 2016/17, and has published a history of the club to mark the occasion.

Nigel Watson, author of 150 years of The London P&I Club, says, “When the London Club was founded in 1866, shipping was dominated by the British mercantile marine, and the general cargo steamer was developing as the major conduit for world trade. As the club reaches 150, the world’s shipping fleet is much more disparately owned and huge container vessels ship goods across the seas. One constant has been the prime importance of shipping to world trade and the way we live our lives in the modern world.”

As well as illustrating the momentous shifts in shipping since 1866, the story of the London Club also highlights the crucial role played by mutual insurance clubs in sustaining the role of international shipping.

In a foreword to the book, Alderman The Lord Mountevans, Lord Mayor of London and a former shipbroker with Clarksons, says, “The history highlights foresight and planning, for example in the early establishment of the overseas club offices. It also highlights enduring principles such as a commitment to mutuality and the strong shipowner interest and engagement which clearly underpin the London Club’s work.”

Further details can be accessed at: www.londonpandi.com/about/history/

www.londonpandi.com

David Hammond CEO Human Rights at Sea

‘Application of human rights throughout the maritime environment at all times without exception’. IMHR 2016 Conference Review.

A week after the inaugural International Maritime Human Rights (IMHR) conference took place on Wednesday 14 September 2016, at The Royal College of Surgeons in London, the positive repercussions of the event continue to reverberate. Titled “Respect, Responsibility and Remedy in the Maritime Environment” the event delivered something new to the emerging maritime human rights discussion.

This was the first time that such an event had occurred and where stakeholders from across the entire maritime space, commerce and civil society came together to outline their respective work, concerns and aspirations in relation to acknowledging and dealing with ongoing human rights abuses in the maritime environment.

The event was attended by delegates from as far afield as New Zealand, India, the USA, Canada, Kenya and South Africa as well as from the IMO, UK Cabinet Office, SeaFish, Europeche, the NFFO, The Fishermen’s Mission, the Royal Navy, the United States Navy, NATO, the UK Chamber of Shipping, the RMT Union, numerous international Counsel, e-learning providers, academia and many media platforms, including the BBC.

Perspectives from the shipowner, the shipmanager, fisheries organisations, civil society NGOs dealing for migrant rescue, shipbreaking, business and human rights organisations, flag States, government, gender and diversity, anti-slavery and international investigative project leads made for a comprehensive and very busy nine-hour day. This included an evening networking reception which developed a number of new professional relationships and opportunities spanning across continents.

George A. Tsavliris

Examples of the diverse nature and wide-ranging experience of the speakers included:

Mr. George Tsavliris of Tsavliris Salvage said that “Respecting human rights is not a tick-in-the-box exercise” and that is was the “right thing to do” while always “maintaining a code of ethics” within a company structure.

Mr. Kuba Szymanski of InterManager stated that authorities should “stop criminalising us” in relation to the

Kuba Szymanski from InterManager

increasing trend to criminal seafarers for their actions and also noted that “99% of the shipping industry is not bad, it is excellent”. He also pressed the point that seafarers were human beings.

On behalf of Mr. Ment van der Zwan of the Dutch Pelagic Freezer-trawler Association and FISH-Platform, Mr. Cor Blonk of the Dutch Ship Owners Association for Pelagic Fisheries read a letter to the delegates where he stated that while there were “1.5 million seafarers” there were “35 million active fishers”. Most notably he commented that: “Fish and fish stocks are better protected than fishers” and that “most of the indispensable standards in relation to human rights are not in force”.

Mr. Peter Sweetnam, CEO of the Migrant Offshore Aid Station (MOAS) commented that for many migrants rescued at sea by NGOs it was: “Treating them, sometimes for the first time, as human beings”. This resonated with the hard-hitting opening film titled “The Dead Sea” partly funded by Human Rights at Sea and which detailed the abuse and torture of migrants passing through a Libyan detention centre based on factual testimony.

Phil Bloomer from the Business & Human Rights Resource Centre

Mr. Phil Bloomer, Executive Director of the world-renowned Business and Human Rights Resource Centre (BHRRC) in London noted that “ship managers know where the abuses are occurring” and further stated that “broadly, the maritime industry is a laggard in terms of human rights”.

The concept of business and human rights in terms of turning human rights into a competitive commercial advantage was explored by Mrs. Margaret Wachenfeld of the Institute of Human Rights and Business (IHRB), where she noted that “discussion on business and human rights has been going on for at least 20 years” and that “respecting human rights is essentially doing no harm”.

Mrs. Alexandra Wrage of TRACE International detailed issues of corruption in the maritime space and where she commented that: “Human rights are violated when people are bribed and paid off”.

The impact of human rights provisions and safeguards in the UK fisheries industry was discussed in detail by Mrs. Libby Woodhatch of SeaFish and where she commented that: “We need to change mind sets. [We] need to think about the people not the fish”.

Conrad Thorpe

Mr. Conrad Thorpe OBE, the CEO of Salama Fikira based in Nairobi held the delegate’s attention with his first-hand anecdotes from the front line of counter-piracy operations where his company has been responsible for the release of over 100 hostages and where he related that: “I have seen Masters weep on the release of their seafarers.” He also detailed cases where his unarmed security teams had stopped human rights violations on board and during handover to local authorities and had personally contributed towards immediate funds for rescued seafarers being put ashore.

The welfare session chaired by Commodore Barry Bryant CVO RN, DG of Seafarers UK, saw Cadet Sarah Stevens, Royal Fleet Auxiliary speaking along with Lieutenant Commander Chris Wood RN of the Royal Navy’s Compass organisation on matters of diversity and inclusivity commented that there was “a serious lack of positive female role models” at sea, while Mr. Martin Foley, Chief Executive of the Apostleship of the Sea outlined the threats and opportunities to the welfare system, with threats including funding provisions, complacency and secularism.

Professor Neil Greenberg of Kings College London and March on Stress provided a dynamic insight into Trauma Risk Management and PTSD and stated that in terms of on-board self-help: “the impact of [good] junior leadership on decreasing the effects of PTSD is huge.”

Wendy Betts

A comprehensive brief on the English law review of anti-slavery and trafficking was delivered by Ms Parosha Chandran of 1 Pump Court chambers alongside detailed introductions by Mrs. Wendy Betts of the International Bar Association of the new evidence gathering app ‘eyeWitness’ that has been championed in the maritime space by Human Rights at Sea.

Abuses in the global ship-breaking yards were incisively highlighted by Miss Ingvild Jenssen from the NGO Shipbreaking Platform during which she quoted worrying statistics concerning deaths in yards, high rates of child labour and shipyards environmental impact in the inter-tidal zone and where she further challenged flag States actions. Ingvild was clear that: ”Human rights violations are crimes”.

Mr. Norman Schmiedl of Columbia Ship Management reflected the impacts on their crews particularly in relation to the rescue of migrants noting that: “those who are really rescuing do not have a voice – they are not recognised for their work”.

The CEO of St Kitts & Nevis International Ship Registry, Mr. Debasis Mazumdar, acknowledged that in his new role, having previously been the Head of the UK Ship Register, that he was changing and improving many aspects of his new flag administration. He noted that: “Human rights should be enjoyed by everyone” and that it was “the duty of the flag State to uphold human rights.”

IMHR 2016 – Delegates

During the event the new ‘Managing Traumatic Stress’ publication from Professor Neil Greenberg of Kings College in collaboration with Human Rights at Sea published by The Nautical Institute was presented to the delegates, alongside the announcement of the forthcoming new Marlins e-learning course ‘Diversity and Inclusion at Sea’ for seafarers, again in partnership with Human Rights at Sea.

The event was closed by David Hammond, CEO Human Rights at Sea with a Call to Action that there should be “Application of human rights throughout the maritime environment at all times without exception”.

Professional footage of speaker’s sessions, interviews with delegates and conference photographs will be published in the forthcoming weeks on the Human Rights at Sea website www.humanrightsatsea.org

Download Conference Documentation

• Download the IMHR Conference Guide at: https://www.humanrightsatsea.org/wp-content/uploads/2016/09/International-Maritime-Human-Rights-Guide-2016.pdf

• Download the HRAS opening presentation at: https://www.humanrightsatsea.org/wp-content/uploads/2016/09/David_Hammond_PPT.pdf

• Download speaker’s presentations via: www.mar-rights.com

• Download the new ‘Managing Traumatic Stress’ publications at: https://www.humanrightsatsea.org/wp-content/uploads/2016/09/Managing-Traumatic-Stress-dps.pdf

Human Rights at Sea is an independent maritime human rights charity registered in England and Wales established for the benefit of the international community for matters concerning explicit engagement with human rights issues in the maritime environment. Its Mission is to explicitly raise awareness, implementation and accountability of human rights provisions throughout the maritime environment, especially where they are currently absent, ignored or being abused.

L to r: Dimitris Karaiskakis, Peggy Papastavrou, Pantelis Lambrou, Vassilis Govaris, Chrisitina Kosma and Georgia Mourla all from ATHEX with John Faraclas

Venues always denote, even metaphorically, something special correlating with respective business, and organisations targets. This year and prior to the 11^th Annual Greek Roadshow Bloomberg briefing event debate, the CEO of the Athens Stock Exchange Socrates Lazarides hosted a cocktail reception in one of the world’s bespoken venues, Hutong Shanghai Bar at the Shard.

At level 33 on London’s highest viewing  platform  - being also Western’s Europe highest building, guests enjoyed excellent dips and drinks and above all an intense networking given the importance of investments in Greece, particularly this very moment.

The Shard, the iconic south-bank building overlooking Father Thames – picture taken from London’s Tower Bridge; credits John Faraclas

From what we gathered, it seems that all is set for a new era in Greece and we strongly believe that the Athens Stock Exchange is THE Means for Greece’s further development and the latest COSCO PPA one, an important shipping success.

This London gathering brings together institutional investors and senior executives of Greece’s leading listed companies and has proven through the years a very much needed event! We eagerly wait for tomorrow’s briefing session on “Greek capital markets and speeding up the real economy”.

UK trade promotion body Maritime London has published an online booklet highlighting London’s pre-eminence as a centre of excellence for the resolution of international commercial and maritime disputes.

Launched at its AGM last week, The London Arbitration booklet has been produced by Maritime London and sponsored by the Admiralty Solicitors Group, with significant expert contributions from the London Maritime Arbitrators Association (LMAA) as well as law firms Holman Fenwick Willan LLP and Waltons & Morse LLP.

London is the currently venue of choice for the vast majority of international maritime arbitrations. In the five years from 2011 to 2015, it is estimated that approximately 17,650 appointments were made and in that same period, 3,000 awards were published by London maritime arbitrators. This however is undoubtedly a considerable underestimate since it only captures those in which full members of the LMAA participated as members of the tribunal and does not include those conducted by members of the Bar and others or LOF (Lloyd’s Open Forum) arbitrations.

The London Arbitration booklet lists a range of compelling reasons why international lawyers and their clients should conduct their legal business in London starting with the simple fact that English law is the most widely used “foreign” law selected in international commercial and particularly maritime contracts. English law is also based on the principle of freedom of contract, which enables arbitrators and courts to adopt the most commercial approach to give effect to the parties’ intentions.

London arbitration awards are enforceable in more than 160 countries which are parties to the New York Convention, and these include all the major trading nations. In addition, the ‘UK Maritime Cluster’ offers a large body of counsel, Bar and solicitors, experts and arbitrators who are world renowned for their legal, commercial and technical experience in maritime matters, likewise London’s Commercial Court Judges are unrivalled in their international quality and experience. Furthermore, cases conducted in London benefit from impartial arbitrators, confidentiality, speed and cost effective proceedings.

Maritime London vice chairman, and partner global head of transport, Norton Rose Fulbright LLP Harry Theochari said; “The pre-eminence of the City of London as the world’s leading maritime services cluster was reconfirmed by the recent PWC report which highlighted the fact that English Law is the preferred jurisdiction for commercial and shipping contracts. It must be that when these contracts give rise to disputes London, with its centuries old understanding and experience of maritime issues and a judiciary and arbitrators having the highest reputation for independence and integrity, must be the right forum.”

“The maritime arbitration services that London and the UK provide are a key factor in the continuing success of the Centre of Excellence that is the maritime services industry within the United Kingdom. The member firms of the ASG, with the support of their multi-national client base, have been and will continue to be key users of the arbitration services provided in the UK. The points highlighted in the online booklet published by Maritime London clearly showcase why London is and should remain a dispute resolution centre of choice for maritime disputes” added Mark Lloyd, partner at Waltons & Morse LLP

“London remains the leading centre of maritime arbitration, with more arbitration awards issued in maritime disputes in London in the five years to 2015 than were reported in all other maritime arbitration venues combined. Disputes are heard before dedicated maritime arbitrators and there is also a good settlement rate for maritime arbitrations, with most cases settled before the final hearing. London is very well established as an international centre of arbitration excellence with experienced expert witnesses and maritime lawyers available to advise on disputes. The maritime arbitrators who deal with LMAA and LOF arbitration continue to provide a very valuable service to the shipping industry,” commented Guy Main, senior manager, Holman Fenwick Willan LLP.

LMAA’s Honorary Secretary Daniella Horton concludes that; “London is the pre-eminent centre for international commercial arbitration, in particular international maritime arbitration, supported by the largest cluster of maritime expertise in the world. Some 90% of the world’s shipbuilding disputes and a significant proportion of all other types of maritime disputes including contracts for sale and purchase of ships, time and voyage charterparties, contracts of affreightment, agency and management agreements are referred to arbitration here in London, particularly on the terms of the London Maritime Arbitrators Association (LMAA). The LMAA is proud to have been at the heart of this maritime cluster since the Association was created by senior shipbrokers of the Baltic Exchange over 50 years ago and looks forward to maintaining a central role in London’s continued success as a world renowned international arbitration centre.”

The new booklet will be available from the Maritime London website where it can be downloaded as a pdf or accessed via the link to the ‘turning page’ edition just visit: www.maritimelondon.com/service/arbitration

It is anticipated that The London Arbitration booklet will be a valuable marketing tool for the London maritime legal profession, supporting the drive to attract more business and interest from prospective clients around the world.

Shipping is indispensable to the world. That is the message being shared around the world today (29 September), as IMO and the global maritime community celebrates the annual World Maritime Day.

World Maritime Day is an official United Nations day. Every year, it provides an opportunity to focus attention on the importance of shipping and other maritime activities and to emphasize a particular aspect of IMO’s work.

Each World Maritime Day has its own theme. For 2016, the theme is “Shipping: indispensable to the world” – chosen to focus on the critical link between shipping and the everyday lives of people all over the planet, and to raise awareness of the role of IMO as the global regulatory body for international shipping. The importance of shipping in supporting and sustaining today’s global society gives IMO’s work a significance that reaches far beyond the industry itself.

According to the United Nations Conference on Trade and Development (UNCTAD), around 80% of global trade by volume and over 70% of global trade by value are carried by sea and are handled by ports worldwide. These shares are even higher in the case of most developing countries.

A single ship can carry enough grain to feed nearly four million people for a month; another, enough oil to heat an entire city for a year, and others can carry the same amount of finished goods as nearly 20,000 heavy trucks on the road. Ships are among the engineering wonders of the modern world.

Shipping is the only truly cost-effective and sustainable delivery mechanism for international trade and the global economy.  People all over the world rely on ships to transport the commodities, fuel, foodstuffs, goods and products that are so vital in their everyday lives.

“As the World Maritime Day theme for 2016 so rightly acknowledges, shipping is indispensable to the world – and is set to remain central to world economic growth as we make the inevitable transition towards an era of clean and sustainable development,” said IMO Secretary-General Kitack Lim in his annual World Maritime Day Message.

“This is a message that needs, and deserves, a wider audience. Almost everyone in the world today relies on shipping to some extent – but very few are aware of it,” Mr. Lim said, urging all all those involved in shipping to take the opportunity to highlight this vital industry, on which so many depend.

United Nations Secretary-General Ban Ki-moon also issued a message for World Maritime Day,

“The importance of shipping in supporting and sustaining today’s global society makes it indispensable to the world, and to meeting the challenge of the 2030 Agenda for Sustainable Development,” Mr. Ban said.

Individual governments are encouraged to mark the World Maritime Day, on a date of their choosing but usually in the last week of September.

“As the World Maritime Day theme for 2016 so rightly acknowledges, shipping is indispensable to the world – and is set to remain central to world economic growth as we make the inevitable transition towards an era of clean and sustainable development,” said IMO Secretary-General Kitack Lim in his annual World Maritime Day Message.

World Maritime Day Forum 2016
IMO is hosting a debate on global shipping’s future challenge, at IMO Headquarters on 29 September. The event will be livestreamed from 3:15 p.m. local time.

Online participants are encouraged to take part via Twitter using the following handle and hashtag: @IMOHQ #WorldMaritimeDay

Social Media
Governments, organizations, companies and training institutes, as well as individuals, are encouraged to let IMO know how World Maritime Day is being celebrated, using the hashtag #WorldMaritimeDay @IMOHQ

Downloads
A full package of resources is available from the IMO website. Click here to find logos, the message from the Secretary-General, a background paper, a video, and the message from the UN Secretary-General.

World Maritime Day Parallel Event 
The World Maritime Day Parallel Event will be held in Turkey in November 2016.
Visit www.worldmaritimedayturkey.com/ for further details.

IMO – the International Maritime Organization – is the United Nations specialized agency with responsibility for the safety and security of shipping and the prevention of marine pollution by ships.

Web site: www.imo.org

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The London Wealth Forum & Safe Havens Conference October 4, 2016 The Caledonian Club, London

Th e Implications of BREXIT

Given the large number of high calibre speakers and the vast nature of the subject matt er under consideration both speakers and delegates are kindly requested to adhere as best as possible to this timetable. Refreshments will be available through out the day so breaks will be kept to a minimum…

Viewers can log herebelow and see the full agenda of this more than important event:

London WF_Agenda-5