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Marine Insurance and Looters

Tomi EleganceHaving gone ashore during Typhoon Haiyan on 8th November, the owners of the general cargo ship Tomi Elegance was seeking to declare the vessel a constructive total loss, if the cost to refloat and repair the vessel proves to be excessive.

Looking at photos of the ship high and dry there seems little doubt that this is indeed the case. Tacloban Oil Mills were awaiting the arrival of surveyors at Tacloban City to determine the extent of damage sustained.

The vessel was also targeted by looters, who stole the vessels supplies, equipment and a part of the vessels cargo of 500 metric tonnes of copra.

More on this and other news in Sea Breezes Magazine - February 2014 Issue
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Bankruptcy Threat for CSC Phoenix

Chinese state shipping company CSC Phoenix has gone into corporate restructuring after a court accepted petitions from two creditors who argued the carrier cannot repay its debts with its net negative asset value.

Read more: Bankruptcy Threat for CSC Phoenix

   

Shipping Companies Play Their Part

Typhoon Haiyan aftermathSome 4mn people were displaced following Typhoon Haiyan, which rolled over the central portion of the Philippines in November.

Read more: Shipping Companies Play Their Part

   

Collision off Coast of Vietnam

Heung A DragonA South Korean container ship sank after it collided with the Marshall-Island cargo vessel Eleni off the coast of the southern province of Ba Ria-Vung Tau Province on 7th November. No casualties were reported.

The Heung A Dragon was 2.2 nautical miles off the coast and carrying containers from Hong Kong to Ho Chi Minh City. The Eleni was departing from Phu My Port in Tan Thanh District in Ba Ria-Vung Tau Province.

Read more: Collision off Coast of Vietnam

   

NYK Stolt Tankers Expands Chemical Tanker Fleet

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Stolt InvestionNYK Stolt Tankers, a joint venture between Japan’s Nippon Yusen Kaisha and Norway’s Stolt Tankers, has ordered a 38,000 dwt chemical tanker from China’s Hudong-Zhonghua Shipbuilding.

Read more: NYK Stolt Tankers Expands Chemical Tanker Fleet

   

Two Lost as Chinese Bulker Sinks

Typhoon DanasA dramatic rescue of the crew of bulk carrier Jing Ye 88 in heavy seas associated with Typhoon Danas took place on 7th October.

Read more: Two Lost as Chinese Bulker Sinks

   

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