Overview of Ship Vetting

In the nineteenth century, commercial whalers began using whole fleets to hunt whales, with each ship given a specific role. The largest ship, found at the center of the fleet, was the factory ship. At the heart of these ships are many tanks. Christopher Ash worked as chief chemist on the factory ship Balaena, and in his book Whaler’s Eye, comments on the massive tanks found in these ships. “Balaena really is a tanker, and almost all of her hull…is subdivided into thirty-six tanks. It is rather like an egg crate with nine rows, each of four tanks extending across the ship, and each tank able to take some five hundred tons of fuel or Diesel oil, which will be replaced—after cleaning—by whale or sperm oil, or perhaps meat meal; sometimes they must be filled with sea water as ballast. These tanks are impressively large, being well over thirty feet deep; so that when standing on the bottom and looking up to the one small square of light far above, it is difficult to believe that we can produce enough oil to fill the whole of that volume in twenty hours (Ash, 1962, p.19).” Underneath the tanks is the bottom of the boat. Above the tanks is the tank deck. This holds the centrifuges used to separate oil and glue water, as well as driers and bagging machines

Mary Linn of Ocean Carriers is evaluating the purchase of a new capesize carrier for a 3-year lease proposed by a motivated customer. The leasing contract offers very attractive terms, but no ship in Ocean Carrier’s current fleet meets the customer’s needs. In addition, the proposed contract with the customer is only for three years. Therefore, after three years, the

The purpose of this paper is to analyze the economic situation of the company Macedonian Shipping and give a recommendation whether the company should use the motor vessel Tashtego as a freight tender beween Dar-es-Salaam and Zanzibar in East Africa or as a tapioca ship between Balik Papan and Singapore in the East Indies.

During my tenure with NTB, I have undertaken complex engineering and project work within the boundaries of the Navy Technical Regulatory Framework (NTRF) to successfully deliver technical products and services for the acquisition and sustainment of Minor War Vessels (MWV) for the RAN. In the naval context, these includes specification and validation of compliance with Platform System Requirements for the current and future ships through the development of material specification for maritime capability certification assurance process and provide technical naval system advice to naval community that is accurate, on time and pragmatic.

1. How should Smooth Sailings’ management perform the recoverability test for the cruise ship as of December 31, 2010?

Since scenario 1 has a negative NPV, we recommend Ocean Carriers to not invest if there is a 35% tax rate in the US. In scenario 2, where the ship is built in HK with a 0% tax rate, then we recommend that Ocean Carrier invest in the ship. This analysis shows that working the ship at a 35% tax rate will not yield a profit on the investment even 25 years into the future, given the increasing costs of survey preparation and the diminishing number of days that the ship is actually able to make money and be commissioned.

(NSY) had been providing parts and services to the Mega-Yacht Industry since receiving their initial seed capital in 2000. The Mega-Yacht industry provided an attractive opportunity for NSY. Although the industry was small by comparison, serving only 10,000 vessels, it generated in excess of $1 billion in economic activity annually, divvied amongst the new build, and maintenance, refit and repair business sectors (Mark & Mitchell, 2003, p. 48). The industry’s supporting cast included captains and crews, owners, management companies, procurement agents, yacht builders and repair entities, brokers, and local husbanding agents. Although unknown to the firm at its inception, consultants in 2002 forecasted the mega-yacht industry would see annual growth of 6%, with the potential for even better numbers in the short-term (Mark & Mitchell, 2003, p. 48).

We think that daily spot hire rate will likely decrease next year. There are two reasons. First, there are 63 new vessels scheduled for delivery in 2001 to increase the supply of vessel and only few old vessels need to be retired, while the demand will not increase because imports of iron ore and coal would remain stagnant over next two years. Second, exhibit 5 shows that avg. spot rate of 2000 was higher than the rate of previous years and avg. 3-yr charter rate. In addition, the market will seemingly go up after two years. Therefore, ship owners should hope to sign short-term contract through using lower daily spot hire rate rather than locking low daily high rate for a long period.

Be that as it may, shipbuilding and ship repair has been an old industry held in the country, which regardless of what many may think, has been important to the initial stages of development for the nation as a whole. As a result, the historical significance of the industry can be assigned to one of the few industries that managed to aid in successfully contributing to the development of the national identity. From this, the shipbuilding industry as a whole must be detailed in order to directly correspond its long-lasting effects through its actions. The initial demand for ships were usually generated by the involvement of other industries, specifically items relating to timber supplies, offshore oil services, fisheries, exportation of natural

Membership to the Boat Forces Advisory Council will allow me an opportunity to assist in shaping the Boat Forces community and to provide insight to a consistently evolving mission. I feel the Coast Guard forms policy and procedures based off of operational, ‘deck plate’ level feedback and insight. My operational background and experience on several different platforms as well as the collateral duties I have held have provided me with experience and insight that I believe would be beneficial to senior leadership. This opportunity provides me an avenue to ensure future boat operators are not subjected to unnecessary risk by helping to shape and improve the current standards. I feel I have insight and experience to offer the Boat Forces Advisory

The foreword of this book is written by James Corbett, professor of marine science and policy and he writes " This text is designed to assist today’ s mariners, environmental scientists, and regulatory administrators. " And he concludes with "This text contributes to a better understanding of shipping and environment, and expands the horizons for twenty-fi rst-century shipping.".

Ocean Carriers Inc. was approached in January of 2001 with a contract proposal for the leasing of one of their ships for a term of 3 years beginning in 2003. Ocean Carriers currently has no ship to accommodate the customer. To commission the construction of a new vessel would take 2 years from start to completion. The average rate in the spot market is $22,000 per day. Ocean Carriers deployed a younger fleet than average carriers and generally earned a 15% premium over the average daily rate placing them in position to capitalize in strong economies. However, the industry is volatile and suseptable to extremes both low and high. Many ship owners sought to sign contracts with time charters in order to shield themselves from the swings

5. From the firm’s point of view, the policy of not operating ships over 15 years old is designed to protect against uncertainty and to pursue a higher premium over the market by having more relatively young vessels rather than old ships. However, based on our calculation of the NPV of the project, under the assumption that the company will continue to operate the ships until the 25 years of service, the results

Every firm would love to invest in shipping industry due to large profits involved. However this would seem easy but practically it is lot more difficult and virtually impossible to establish in container line business. The problem pertains to large capital investments in form of vessel and container procurements and risk of operating vessels. Even if we take the examples of biggest companies

According to Waters (2010) water transport has not been used to it’s full potential therefore there has been a decline in sea transport, this is due to the lack of proper terminals. But according to Harrison & Fichtinger (2013) containerised ocean transport has become the lifeline of nearly all global supply chain, because of the increased amount of global processes, outsourcing and offshoring. Mason & Nair (2013) states that today, there are more than 80% of world trade by sea, such as raw materials and manufacturing outputs are carried inter-regionally around the globe.