Press release: ITIC warns against letting speed affect accuracy
To maintain flexibility, charterers often request that the shipbroker fix the vessels to discharge at a specified number of ports within a defined range. But it’s important that the broker clearly understands the definition of that range and which ports it includes.
Press release: Using the “Notice of Readiness” clause from a previous fixture can have unintended consequences, warns ITIC
The Notice of Readiness (NOR) clause in a previous fixture may not have the same effect if used in a new fixture. Shipbrokers should bear this in mind when copying wordings from previous fixtures says the International Transport Intermediaries Club (ITIC).
Press Release: Brokers should consider ship valuation wordings due to Coronavirus, says ITIC
During these unprecedented times, the International Transport Intermediaries Club (ITIC) recommends that brokers should consider stressing the current unusual market conditions in their ship valuation certificates.
ITIC circular: Ship valuation wordings and the Coronavirus outbreak
In the aftermath of the financial crisis of 2008 brokers providing valuations included additional wording in their certificates reflecting the state of the market. These generally pointed out that the lack of comparable sales made the assessment of values uncertain.
Press Release: Failure to check charterparty wording catches ship manager off guard
International Transport Intermediaries Club (ITIC) has urged ship brokers and managers to check the terms of their charterparty agreements closely before signing, in order to avoid costly mistakes further down the line.
Press Release: ITIC says simple checks will defeat shipping industry fraudsters
International Transport Intermediaries Club (ITIC) says ship brokers and agents are among those most at risk of exposure to fraud in the shipping industry, and urges them to carry out simple checks in order to protect themselves.
Press Release: ITIC reimburses broker accused by owner of breach of authority
International Transport Intermediaries Club (ITIC) recently represented a shipbroker accused by an owner of breach of warranty of authority in a dispute arising under a non-performing contract of affreightment (CoA).
Press Release: Broker liable for fixture error leading to damages in rising market
International Transport Intermediaries Club (ITIC) recently helped a shipbroker reduce its level of exposure to claims from a charterer for damages and loss of profits in a rising market, following a failure to pass on fixture options correctly.
Press Release: ITIC settles dispute after Turkey bars entry to vessel with Cyprus connections
International Transport Intermediaries Club (ITIC) recently settled a dispute between a shipowner and its Turkish agent for losses arising from the refusal of Turkish port authorities to allow a vessel to berth because of its connection to Cyprus.
Press Release: German ship agent wins ITIC-sponsored FONASBA Award
The FONASBA Young Ship Agent or Broker Award 2017, co-sponsored by International Transport Intermediaries Club (ITIC), has been awarded to Niklas Soltow of SCA Logistics GmbH of Kiel, Germany. Katy Aldrick of Seaforth (Kenya) Ltd also received a special ‘highly commended’ award for her paper on the threats and opportunities facing small independent shipping agents in East Africa.