The publication of this book is timely - at the time of writing we are in the midst of very troubled times for the dry-bulk shipping markets. Falling demand for dry commodities, an oversupply of ships and a freeze in credit have seen daily hire rates for bulk carriers drop from all-time highs to near all-time lows within the space of a few months.
From freight rates to bunker prices, credit risk to asset values, the financial risks faced by shipping market participants are significant. The book provides readers with a proper understanding of the measurement process and on how to manage the volatility of the freight rate; the information in the book will also let the reader explore the options that are available to the professionals of the shipping industry.
The authors have made a brilliant compilation of the thorough investigation of the markets conducted y the recognized experts. That is why this volume is a must-have for both practitioners and researchers. Their efforts resulted in a truly unique publication combining both theoretical and practical aspects or the risk management, the readers who have gone through the material included in the book will get some essential knowledge of risk assessment and be enabled to understand all major freight derivatives tools.
This is the second, updated and revised, edition of the textbook sold in nearly every country of the world and recognized by many of the industry professionals as the standard reference book on the subject - it is appropriate that it should actually be published at a time of changes happening to the international maritime industry today.
The present release of the book reflects all such changes and also places the emphasis of the required professional approach in all fields of marine practice and shipping management with the intention to provide the service of highest possible quality that is, in turn, required to sustain and further expand the international trade.
The textbook shall also be considered ideal to the people who are employed in shipping companies, both afloat and ashore, as well as to the students who are planning to take the shipping, international trade, export and other relevant examinations. We would treat it as a sort of aide-memoire to the participants of the shipping industry all over the world.
It is very good reference source for the readers who are trying to improve their knowledge of the basic elements of shipping practice as well as the management. The subject of the book is mainly treated in a very practical way, that provides the readers with an overall understanding of the shipping industry economics.
Nowadays, the maritime transport plays a truly dominant role in the international trade, serving it and significantly contributing to it's development. More than ninety percent f the traded goods are transported by means of vessels, making these vessels an essential asset, one of the fundamental ones for the global commerce.
Merchant ships are becoming more and more complex to meet the increasing demands of the world economy. This work by Lief Bleyen is focusing on a very specific aspect of maritime claim enforcement - judicial sales of ships, as it is stated in the title. This is a procedure that the creditors commonly resort to in the cases of the irreversible default situations. A significant portion of this volume approaches the above mentioned topic from a comparative perspective, and the main goal is the assessment of the existing differences and similarities of this procedure between the jurisdictions of Belgium, England & Wales, and the Netherlands.
In the present volume, the comparison is used by the author to conduct the further analysis of the potential impacts these differences might have on the reliability and effectiveness of the sale procedure in each of the named jurisdiction, forming the basis for the assessment of the feasibility of harmonizing procedures as well as fostering the acceptance of these procedures...
Nowadays, the details of the international trade including shipping is growing very complex from year to year - what it actually means is that even the proven industry professionals may sometimes need guidance. The present guidance book was released to supply readers with a clear view of the whole import and export processes and explain all important ins and outs of the international trade as well as the associated insurance matters.
The content of the publication is covering such the important aspects of the business as the organization of the import and export operations, various documentation and processes relating to the exporting, preliminary considerations, sales and other export documents, export licenses and controls, importing - associated documentation and procedures, preliminary considerations, purchase documentation, import documentation and process, global customs considerations; the readers will also get to know how to determine the proper classification of a particular product, its proper value to be declared and proper country of origin; moreover, specialized importing and exporting are also addressed together with the Incoterms diagram and ISA, i.e. International Sales Agreement; the last chapter of the publication provides users with some of the most popular export and import related internet resources.
This is one of the most popular books on commercial shipping. The author of this volume tried to achieve the three main objectives, namely the competent handling of shipping contracts, accurate calculation of the transportation costs and effective commercial communication. It has been recognized and proven useful as a very handy reference tool and a sort of guide bridging the gap that is there in the knowledge between the office personnel and the ship's crew.
It will be equally useful when used for education or as a reference book for everyday work. Should you face a problem, just check the index and the chapters of the book and we are sure that you will find some explanation. The volume opens with a review of the basic shipping terms and ship characteristics, and then the author proceeds to the optimization of cargo capacity. The following chapters address the costs of voyage, liquid cargo measurement, draft survey of the dry cargo, bunker management, finance planning applied to shipping, computerization and other important aspects of commercial shipping.
Two separate chapters have been specifically dedicated to the bills of lading and charter parties. And, finally, the last one addresses the disputes. Apart from the theoretical part, the publication is full of real practical advice adding to its value as a reference source. In addition, there is some supplementary information included in the appendices, e.g. terminology used in charter parties, abbreviations, sample calculations, guidelines for invoicing and other useful information.
The Masters of the ships carry the huge responsibility. While in the distant past their vessels were relatively small-sized and could only carry some limited amounts of cargo, nowadays the Masters are in command of the passenger vessels, VLCCs, large container ships, Panamax-size bulk carriers controlling huge capital assists with the cargoes worth dozens of millions.
Such responsibility assumes great importance as the today's community demands much higher standards and, consequently, the P&I Clubs make the larger provision for the liability insurance. The Masters have a crucial role in managing the risks associated with the marine transportation. In order to be effective as commercial managers, the Masters shall have a thorough knowledge of the trading terminology and detailed appreciation of all provisions that are expressed and also implied in the shipping contracts; in addition, they shall be confident during the communications with the contracting parties in order for the best results to be achiever for their companies.
For sure, today the job of the Master is much more complicated that it used to be say a decade back. While the modern communication equipment allows much quicker information exchange, this enables the shipping companies to control their subcontractors in new ways. This often results in the Master having to handle quite a complex relationships and making decisions relating to the conflicts of interest to support the owners...
Here is one of the most invaluable reference tools aimed at anyone involved in shipping industry and international trade. The book provides all information necessary to make a first step towards proper understanding the whole process of transportation of the goods by sea and of the associated framework.
It provides quite concise yet comprehensive explanations of numerous types of activities comprising the shipping, and explains the terms together with their interrelation. Among the topics covered within this publication there are documentation used in the shipping industry, such as the charter party and the bill of lading - you will know what these documents contain and see their different types, supplemented with the examples; the book also covers generic types of vessels, goods, containers and sea ports, as well as required details of the most important maritime associations considered prominent in policy making and drafting of contracts - some brief explanation of their main objectives is also there; in addition, it covers the additional costs and surcharges that are usually found in shipping - and liner shipping, in particular.
The chartering terms are also dealt with, including explanation of their context, plus the clauses that appears in BOL, time charters and voyage charters. More than a thousand of commercial shipping terms are discusses in the pages of the handbook.
This is a truly useful and remarkable publication for every person involved in shipping. The author, Kevin Stephens from PPG, standing for the Project Professionals Group, did a huge work - he managed to collect hundreds of the important and necessary chartering terms and provide proper and understandable explanations for all of them.
We would strongly recommend this book to everyone dealing with such specific terminology in their day-to-day work, operations or correspondence; it is really a must-have reference publication for such sort of professionals. All shipping and chartering terms are arranged in alphabetical order for easier reference.
Subject book will be equally useful for the industry professionals in the field of marine business and economics, ship operation and management, marine insurance and law, and to the people studying the subject disciplines in universities to use in their future career. It is indeed one of the best collections of general shipping and chartering terms and abbreviations available today. Since the file containing the Glossary is small file, it should not be a problem to get it transferred to you mobile device and have it readily available whenever necessary.