Who is considered as the owner representation of the vessel?

Who is considered as the owner representation of the vessel?

As the Master of a oceangoing ship, you have the ultimate responsibility not only for the safety and security of your ship, but also of its passengers, crew and the cargo. As the ship owner’s representative and effectively the vessel’s general manager, the Master’s purpose cannot be understated.

Is shipowner and carrier the same?

A shipowner, disponent owner, and carrier may be the same person when an individual owns the ship and, at the same time, exercises navigation and releases his own bills of lading to shippers through his agency network.

What is the shipowner in a shipping industry?

In the commercial sense of the term, a shipowner is someone who equips and exploits a ship, usually for delivering cargo at a certain freight rate, either as a per freight rate (given price for the transport of a certain cargo between two given ports) or based on hire (a rate per day).

Who was the first president of the Indian National Shipowners Association?

Walchand Hirachand, who was the Chairman of Scindia Steam Navigation, was also the first president of the Indian National Shipowners Association (INSA).

How do you become a ship owner?

Anyone can become a ship owner – an individual, a company, a bank, a consortium of companies, or other group. Whoever owns a ship wants the ship to be an investment in terms of its ability to earn money by moving cargo, or by carrying passengers, or by providing a service (e.g. tugs or survey ships or oil rigs, etc.)

What is the role of a ship owner?

The shipowner mainly deals with service business activities. He is responsible for issues such as the carriage of cargo and passengers and their baggage, the exploitation of marine living, and mineral resources.

What is SOC and COC in shipping?

As the name itself suggests, a SOC is a container that is owned by the shippers which may be a consignee or the supplier and a COC is a container owned by a carrier which may be the shipping line or container leasing companies.

What does COC mean in shipping?

A COC, or carrier-owned container, is a cargo container that is owned by a carrier company and is rented out to various consignees.

Who will issue bill of lading?

House Bill of Lading: Issued by the freight forwarder or non-vessel operating common carrier (NVOCC). Here, the consignor is the seller/exporter and the consignee is the receiver/buyer. Master Bill of Lading: Issued by the shipping line or carrier and is also known as the ocean or carrier BOL.

What are the types of ship ownership?

In principle, there are two primary categories of ship ownership namely, the ultimate owner and the beneficial owner. The former is usually the one who has legal title to the ship and may have financed the ship purchase. This owner is usually some form of financial corporation such as a bank.

Who owns the most ships in the world?

In early 2019, Greece remains the largest owner country with a share of 20.4 % in terms of dwt, now followed by China (14.5 %) and Japan (13.0 %). Together these three countries control almost half of the world merchant fleet’s tonnage.

What is seaworthiness of a ship?

Seaworthiness classifies whether a ship has passed the required tests and safety checks to be able to sail without any mishaps. It determines whether or not the ship has been properly assessed, outfitted and maintained in accordance with admiralty law.

Is owning a cargo ship profitable?

If freight rates keep rising, the container lines could collectively make $100 billion in operating income in 2021, according to Drewry Maritime Research. For context, that’s more than 15 times the profits they generated in 2019 and nearly as much as Apple Inc. makes in a typical year.

How much does it cost to buy a ship?

The usual cost of an average-sized newly build liner costs around 800 million USD. You could also buy ships of the 80s and 90s through ship broker companies Norway or elsewhere, as the owners of these ships moved on to better liners. A classic ship could cost you something around 10 million USD or more.

How much does it cost to own a cargo ship?

Vessel purchases In March 2010, the average price for a geared 500-TEU container ship was $10 million, while gearless ships of 6,500 and 12,000 TEU averaged prices of $74 million and $105 million respectively.

What are the liabilities of the owner and the ship agent?

As interpreted by the Supreme Court in a long line of decisions, it means that the ship agent is solely liable with the ship owner for cargo loss or damage, regardless whether the ship agent is responsible for the care of the cargo.

Who is responsible for a ship?

A sea captain, ship’s captain, captain, master, or shipmaster, is a high-grade licensed mariner who holds ultimate command and responsibility of a merchant vessel.

How does a shipping agency work?

A shipping agent is a person who deals with the transactions of a ship in every port that the ship visits or docks. In simple terms, it is a shipping agent who with a local expert acts as a representative of the owner of the ship and carries out all essential duties and obligations required by the crew of the ship.