Negotiations are in progress with public sector organizations for long terms of contracts of
affreightment in compliance with the directive of Federal Government obligating PNSC to act as shipping agent and provide shipping service to public sector organizations.
It also has 1-3 years Contract of
Affreightment for the transport of liquid chemical, vegetable oils, and asphalt.
The drivers, who work in the company's Spot
Affreightment Division, say they will picket the Ellesmere Port depot until their demands are met.
The majority of the USS fleet is on long-term time charters or contracts of
affreightment with major oil and chemical companies based in the United States.
Again, to close the loopholes found in purchases, legal opinion suggests that where trade rules specify "proper contract of
affreightment," it is not enough - express trade rule contract language must be added to require ISM compliant vessels in CIF or CFR purchases.
Delay during shipment: The insurance remains in force during any delay beyond the control of the insured; any deviation, forced discharge, reshipment or transshipment; and any variation of the operation arising from the exercise of a liberty granted to shipowners or charterers under the contract of
affreightment.
The Contract of
Affreightment and Rail Ferry segments reported slightly higher results reflecting lower operating costs during the quarter.
4% for the second quarter of 2014 as a result of higher labor costs, including pension, lower inland marine transportation rates, shipyard activity in the coastal business, and the impact of lagging fuel price escalators on inland marine
affreightment contracts.
Meanwhile, during the same period the Marine Logistics Division also secured a major contract of
affreightment from TNB Fuel Services Sdn Bhd amounting to RM175 million as announced recently.
It said the key initiatives included signing a Contract of
Affreightment for the transport of Furnace Oil with the Pakistan National Shipping Corporation as well as signing an MoU with the government of Khyber Pakhtunkhwa for the establishment of 40,000 barrel state-of-the-art refinery in the province.
The national energy giant had recently signed a Contract of
Affreightment (CoA) with PNSC to transport Furnace Oil from foreign ports to Pakistan's shores.
4 Article 287 of the Maritime Law reads as follows (quoted translation): EoACA[pounds sterling]The following claims shall not be heard if opposed and in the absence of lawful excuse: 1- Claims arising out of a marine contract of
affreightment after the expiry of a period of one year from the date of delivery of the goods or from the date on which the goods should have been delivered.
