Search results for: term

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  • 28 January 2015

    The Merchant Marine Act of 1920, which is also known as the Jones Act, is a U.S. federal statute that provides for the promotion and maintenance of the American merchant marine fleet. According to the Jones Act, all goods transported by water between U.S. ports need to be carried on U.S.-flagged ships, which were constructed […]

  • 23 November 2016

    International shipping association BIMCO’s Documentary Committee approved a standard term sheet for use in ship financing transactions on November 17, 2016.  BIMCO said that the term sheet has been drafted as “a short and simple” standard for use in bilateral ship financing transactions concerning term loan facilities. “A BIMCO standard will be an important tool […]

  • 22 January 2015

    A carnet is an international customs and temporary export-import document. It permits a holder to temporarily carry or send merchandise into certain foreign countries, for display, demonstration or similar purposes, without paying duties or posting bonds. There are two types of carnets issued in U.S., ATA and TECRO/AIT. The TECRO/AIT carnets are used for temporary […]

  • 29 January 2015

    The DEMDES (Demurrage/Despatch) represents the amount of money which has to be paid if a ship is loading or discharging slower or faster than foreseen. Usually the despatch money, which is paid by a shipowner, is half the amount of the demurrage, which is paid by a charterer. The term demurrage refers to the period when a charterer remains […]

  • 26 January 2015

    Cabotage is a water transportation term applicable to shipments between nation’s ports; commonly refering to coastwise or intercoastal navigation or trade. The term cabotage was originally a shipping term, but now it also covers aviation, railways, and road transport. The word is often used to refer to the transport of goods or passengers between two […]

  • 19 June 2013

      Drewry’s latest Tanker Insight reports that freight rates in most vessel categories remained on the softer side during the month due to weakness in chartering activity in the major loading regions barring Arabian Gulf. The same was reflected in the Drewry Tanker Earnings Index that declined 31% during the month to 31.2. Despite this, […]

  • 2 October 2014

    An intermodal container (also known as container, freight container, ISO container, shipping container, hi-cube container, box, conex box and sea can) is a standardized reusable steel box. It is used to store and move materials and products in the global containerized intermodal freight transport system. The word “Intermodal” indicates that the container can be moved […]

  • 5 February 2015

    Chassis is a term that refers to a rectangular steel frame, supported by springs and wheeled axles constructed to accept mounting of containers for over-the-road transport of shipping containers. The United States is the only large market where ocean carriers own and provide chassis to truckers to move containers. Maersk was the first ocean line to announce […]

  • 19 June 2020

    Offshore-Energy.biz is part of the Offshore Energy platform, part of  Navingo BV, based in Schiedam, the Netherlands. The terms and conditions apply to all our services that are purchased. If specific or additional conditions apply this is mentioned during the purchase process.    We advise you to carefully read the terms of conditions, so you fully understand the rights and obligations you have in relation to your use […]

  • 2 October 2011
    Business & Finance

    Scorpio Tankers Inc. announced on friday September 29, that it has signed a committed term sheet for a $92.0 million credit facility (“2011 Newbuilding Credit Facility”) with Credit Agricole Corporate and Investment Bank and Skandinaviska Enskilda Banken AB to partially finance four of the five newbuilding 52,000 DWT product tankers that the Company has contracted […]

  • 26 November 2014
    Business & Finance

    The Baltic and International Maritime Council (BIMCO) has announced its intention to develop a standard term sheet to assist the shipping industry in the creation of ship financing documentation. The aim of developing this document, as explained by BIMCO, would be to offer lenders and borrowers a comprehensive and simple standard which would become well-known. […]

  • 30 January 2015

    Automatic Identification System or AIS is a system used by ships and Vessel Traffic Service (VTS) principally for the identification and locating of vessels. The system is intended to assist a vessel’s watchstanding officers and allow maritime authorities to track and monitor vessel movements. AIS is capable of providing information about a ship to other ships […]

  • 20 January 2015

    Advanced Notice of Arrival (ANOA) is a document which has to be sent to the U.S. Coast Guard by a crew of a ship which is entering U.S. ports. Any vessel entering United States waters from a foreign port is required to give a 96–hour ANOV. Any vessel of 300 gross registered tonnage and greater […]

  • 4 September 2015

    AB Klaipėdos Nafta informed that it has specified the terms of negotiated procedure on the procurement of a long-term loan amounting up to EUR 300 million.

  • 19 July 2013

    June saw more enquiries than May, and more were converted into fixtures, but Drewry’s LNG freight index was stubbornly unchanged according to the latest LNG Insight. However, market sentiment remains positive as Cheniere took three vessels on mid-term charter, plus options. One vessel from Dynacom was also added to the first of the two ME-GI […]

  • 23 February 2012
    Business & Finance

    Deep Sea Supply announces that the company has been awarded long term contracts with Petrobras for the four vessels Sea Fox, Sea Jackal, Sea Vixen and Sea Stoat. The AHTS vessels will perform duties for Petrobras in Brazil. The contract periods are 4 year firm plus 4 year option for all the vessels. Total net […]

  • 14 April 2015

    Dutch bank Rabobank in March issued a report titled: “Offshore energy: Short-term dip, long-term rise” in which they provide an insight in the current market conditions and a forecast of what the future may hold for the global offshore oil and gas industry. Offshore Energy Today interviewed Richard Brakenhoff, who has worked as an industry analyst at Rabobank […]

  • 2 August 2018
    Authorities & Government, Business & Finance, Environment, Project & Tenders

    The 800MW Vineyard Wind offshore wind farm will deliver electricity at a total levelized price of USD 65/MWh for energy and Renewable Energy Credits (RECs), lowering the Massachusetts electricity users’ monthly bills by up to 1.5%, the recent filings by the Massachusetts Electric Distribution Companies (EDCs) show.

  • 24 January 2013
    Business & Finance

    Skansi Offshore has agreed with BP Norge to charter PSV Saeborg for supply, standby and NOFO duties. Commencement is scheduled for Q1 2013. Skansi Offshore has also agreed with BG Norge to charter PSV Torsborg for supply, standby and NOFO duties. Commencement is scheduled for Q2 2013. The contract period for both vessels is 5 […]

  • 11 April 2012
    Business & Finance

    FSL Trust Management Pte. Ltd. , as trustee-manager of First Ship Lease Trust refers to the announcement made on 4 April 20121 by TORM A/S (“TORM”). FSL Trust currently leases two product tankers, namely, TORM Margrethe and TORM Marie, to a wholly-owned subsidiary of TORM. The Vessels are leased on bareboat charters for lease terms […]

  • 2 June 2015

    PTT of Thailand is looking to negotiate LNG import deals with several gas suppliers in order to secure long-term supply.

  • 15 February 2013
    Business & Finance

    Havila Shipping ASA has entered into a long term charter contract with Deepocean for the 2009 built Subsea vessel Havila Phoenix. The contract is for a firm period of 7 years with 4 optional periods each of 1 year. Commencement is Q1 2014. The contract includes an agreement about some reconstruction of the vessel ahead […]