C K Sharma - Commercial Maritime Perils - 27 Nov 2013

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C K Sharma - Commercial Maritime Perils - 27 Nov 2013

  1. 1. Endeavour Creatives Pvt Limited www.shippingconferences.com Commercial Maritime Perils Real Cases of my Life Presented by CK Sharma Academic Advisor 27th November 2013 Mumbai
  2. 2. Perils in Shipping High Value Assets. Bad Weather. Pollution Risk. Navigation Hazards. Pirates. Dangerous Cargoes. War Zones. Dangerous Countries. Cyclical Industry Bad Owners/Charterers Maritime Frauds Commercial Risks
  3. 3. Pleasures Of Shipping Perennial Business. Encashable Property. Big Investment. Income on sale and purchase of the ship. Huge cash flows. World wide business. Moveable Assets Shipowner’s Status in Society
  4. 4. Case of Dropping Anchor on Power Line in Venezuela Communication is key in Shipping business Abrupt orders can lead to disasters P&I Cover is essential. Training is most important for even the smallest job.
  5. 5. Case of Double Freight Payment for same cargo Due Diligence is key to the Freight Management Bosses should not fix unrealistic Targets. A Charter which is too easy to negotiate is a potential Time Bomb. If you see a disaster in the making, pl take very quick steps to overcome it.
  6. 6. Case of Chemical Tanker in NGC & Case of Steel Coils from India to Saudi Arabia There are Disasters associated with discharging against LOI. Bad intention of the counterparty is often the reason But sometimes, one can get caught in a freak situation as in case above case of Steel Coils. Moral of the story is that no matter what you do some uncertainty will always haunt you in Shipping.
  7. 7. Case of Cashew cargo from West Africa to Cochin Trading can not be effectively done without knowledgeable Shipping back up. Never load a cargo without pre-sale where there are Cartels amongst buyers. If you get caught in a Trading Trap then immediately get out and cut losses that would follow.

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