In International Shipping News 19/02/2015
Petra Energy Bhd’s unit, Petra Resources Sdn Bhd (PRSB), has been awarded an umbrella contract by Petronas Carigali Sdn for the provision of spot charter marine vessel services from 2015 to 2017 on a non-exclusive basis.
In a filing to Bursa Malaysia Petra Energy said the service covered Petronas Carigali’s operations in Malaysia for spot charter.
“There is no firm contract value stated in the letter of award as the services is on a call out basis whereby the fees and rates will be based on the quotation at the requirement point of time such as during each work order bidding,” the company said.
Petra Energy also said the duration of the contract was for two years effective from Jan 29, 2015 and would expire on Jan 28, 2017 with an extension option of one year exercisable by Petronas Carigali from the expiry date.
The contract was expected to contribute positively to the earnings and net assets per share of the company.
“The Board of Petra Energy is of the opinion that the acceptance of the contract is in the best interest of the company,” it added.
Source: Bernama
==============================================================================
Concordia Maritime increases exposure in the crude oil segment
Concordia Maritime has signed an agreement to charter 50 percent of a Suezmax tanker in the attractive Suezmax segment. The vessel has a deadweight of 158,000 mt and was built in South Korea in 2012. The charter period is one year from August 2015 with an option for an additional year.
“This agreement strengthens our presence still further in the strong Suezmax market. At the end of last year, we chartered 50 percent of a Suezmax tanker. Both these tankers will be employed on the global spot market via the Stena Sonangol Suezmax pool. Also in the pool is our owned Stena Supreme. We regard the increased investment in the crude oil segment as a good complement to our P-MAX fleet of ten vessels with a focus on product tankers”, says Kim Ullman, CEO of Concordia Maritime.
Technical data for a Suezmax tanker:
Length: 274 m, beam: 48 m, draft (design): 16 m, deadweight: 158,000 tons.
Source: Concordia Maritime
======================================================================
RoPaxTime – New RORO ferry charter close to completion
The sub-committee tasked with developing a standard time charter party for the RoPax trade met on 12 February to put the final touches to what has been a one and a half years’ long project. A consultation draft is now being prepared by the Secretariat which will be posted on BIMCO’s website for review and comments by the industry. Moreover, some of the big players in this sector will be sent a consultation draft directly. All of this will hopefully result in fruitful comments which will assist in ensuring that the final draft reflects current commercial practice and meets the needs of the RoPax trade.
Apart from the general time charter elements such as delivery, redelivery, hire, off-hire and bunkers, the new contract also contains all essential hotel and passenger provisions that would otherwise be incorporated as rider clauses. For example, there are detailed provisions dealing with crew employed by charterers, hotel services, equipment, passengers, cleaning, victualing, laundry and gaming machines to name a few. A comprehensive clause to allocate responsibility in respect of cargo claims is also part of the contract. Finally, the form contains a selection of BIMCO’s latest standard clauses in respect of stowaways, ISM, ISPS, sanctions, dispute resolution, etc.
Once the consultation process is over, ROPAXTIME will be put forward for adoption by the Documentary Committee on 3 June 2015. If approved, it will be published together with Explanatory Notes and made available on BIMCO’s online contract editor, IDEA•2, shortly afterwards.
