Articles - 2007
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Securing the Shipbuilders Claims - 20 Dec 2007
The size and complexity of many shipbuilding and offshore construction projects generate the potential for substantial claims by either or both of the Builder and the Buyer, which may remain unresolved at the time of completion and delivery of the newbuilding. The Builder may in particular have claims against the Buyer for contract price increases, amounts due in respect of variations to the work and/or damages resulting from delay and disruption allegedly caused by the Buyer.
Download: Securing shipbuilders claim.pdf
Suing a Shipyard: Liability for Defective Construction - 12 Dec 2007
Whether a shipyard is engaged in newbuilding or ship-repair projects, there is always a possibility that the vessel in question will be delivered on completion of the works with an inherent construction defect. When such defects come to light, the consequences can be catastrophic, causing loss to a variety of different interests. Determining whether the yard is liable for this loss can be far from straightforward
Download: suing a shipyard.pdf
Sharing the Performance Risks in FPSO Projects - 15 Nov 2007
It is well recognised that the enormous advances made in recent years in floating production, storage and offtake (FPSO) vessel technologies have fundamentally altered the economics of offshore oilfield development.
Download: Sharing Performance Risks FPSO Projects.pdf
Harmonising FPSO Project Contracts - 14 Sep 2007
Advances in recent years in floating production and storage vessel technologies have fundamentally altered the economics of offshore oilfield development. Floating production systems represent a safe and efficient method of exploiting previously inaccessible deepwater fields – they are also a cost-effective means of developing marginal fields which would otherwise be incapable of supporting the construction and decommissioning costs of fixed platform development.
Download: Harmonising FPSO Contracts.pdf
The BIMCO 'NewbuildCon' Shipbuilding Form : Welcome Clarity But Poor Timing - 06 Sep 2007
NEWBUILDCON, BIMCO's newbuilding contract was formally adopted by its Documentary Committee amidst much fanfare in Hong Kong on 5 June 2007 after two years of development by a specialist drafting group. According to BIMCO's press release on the 11th of June, "the new Contract received the unanimous support of the Committee who praised all those involved in the project for their hard work in producing a well-structured, balanced and clearly written newbuilding contract for international use." BIMCO clearly hopes that these qualities will lead to eventual acceptance of the form in the ship building community.
Download: Bimco NewBuildCon Form KHK.pdf
Mega-Yacht Newbuilding Contracts - 07 Aug 2007
The market for bespoke luxury mega-yachts (those 40 metres and over) has grown enormously over the past decade and shows no signs of slowing as the elite club of billionaires seeking this ultimate status symbol also expands rapidly in a booming global economy. As well as an increasing order book, there is a parallel growth in the size, sophistication - and cost - of these yachts as owners jockey to outdo one another. Justin Turner looks at some critical contractual issues involved in building such vessels.
Download: MegaYacht Newbldg Contracts JHT.pdf
The Continuous Synopsis Record - Continuous Red Tape? - 13 Jun 2007
The Continuous Synopsis Record has been mandatory for most commercial vessels since 2004. With the UK having recently consulted with the industry on governing Regulations and the issue of a formal Merchant Shipping Notice, we consider the system, how it appears to be working in practice and identify some problems for owners.
Download: Continuous Synopsis Red Tape JHT.pdf
Shipbuilding Disputes in China : Enforcement in Question - 07 May 2007
The explosive growth in shipbuilding capacity in the People's Republic of China and the success of Chinese yards in attracting ever larger shares of the world order-book have been well documented in the pages of Lloyds List over recent years. These are ongoing trends and inevitably this means we are likely to see a continuing stream of disputes arising in connection with Chinese newbuilding projects - mostly, it must be said, involving the many, smaller, privately owned yards as opposed to large State-owned yards. This will in turn mean ever greater scrutiny on what is sometimes viewed as the rather delicate issue of enforcement of overseas arbitration awards and judgments in China.
Download: Shipbldg China Enforcement RFP.pdf
A Changing Climate in the Offshore Industry - 23 Apr 2007
As has been widely reported, the last few years in the offshore industry have been characterised by huge rises in the price of crude oil coupled with a serious "capacity squeeze" in the availability of offshore equipment and experienced contracting personnel, which have in turn resulted from many previous years of limited investment in the sector.
Download: Changing Climate Offshore WAC.pdf
Regulatory Change in Shipbuilding - A Stern Warning? - 06 Feb 2007
The climate change debate, whatever its ultimate outcome in the future, is driving regulatory developments across industry sectors in the here and now. The shipbuilding industry is no different says Robert Platt and Glenn Kangisser.
Download: A Stern Warning.pdf
