1. Bunkers and Maritime Liens
2. Seahorse Journalism Awards 2018
3. Sustainable Ocean Summit (SOS) 2018–14 to 16 November ~ Hong Kong
4. Lease Accounting
5. Thanks Dad
6. People and Places
FOB Network News
Searching for Group Sponsors
Some FOB Groups already have sponsors – for example JLT (P&I), Bloomfield Law (West Africa Maritime), Chalos (Criminalisation). the Publishers are also looking for sponsors for existing Groups for example Hull & Machinery, Salvage, Piracy, Maritime Singapore/Cyprus/Norway, Superyachts, Surveyors and Major Casualty Investigation.
In addition there is plenty of scope for possible new Groups such as War Risks, Multi-Modal Insurance, Energy Insurance and many geographical areas eg Maritime New Zealand/Germany to name but a few.
1. Please join FOB, and
2. Let us know if you would like a quote for sponsoring a Group
____________________________________________________________________________________________
1. Bunkers and Maritime Liens
Dennis Bryant writes in the latest edition of his maritime blog:-
In the case of Bunker Holdings v Yang Ming Liberia, No. 16-35539 (9th Cir., October 11, 2018), the US Court of Appeals for the Ninth Circuit agreed with other circuits and ruled that a bunker supplier does not have a maritime lien against the vessel for which bunkers were provided where the owner ordered the bunkers from a bunker broker not the physical supplier.
http://cdn.ca9.uscourts.gov/datastore/opinions/2018/10/11/16-35539.pdf
_________________________________________________________________________________
2. Seahorse Journalism Awards 2018
Maria Udy has passed us the details about this year’s awards:-
The Seahorse Awards 2018 will be held on 4th December in London at the The Steel Yard, 13-16 Allhallows Lane,
Upper Thames Street, London EC4R 3UL. Deadline for the submission of entries is 2nd November, 2018.
The Award Categories for 2018 are:-
The Seahorse Club Journalist of the Year
**International Editor**
News Journalist of the Year
Feature Journalist of the Year
Supply Chain Journalist of the Year
Environmental Journalist of the Year
Air Cargo Journalist of the Year
Social Media Journalist of the Year
Award for Journalism on Innovation
NEW â The Investigative Campaign of the Year
Some changes for this year-:
International Editor â Your Readers will notice that a new criterion has been added. The Seahorse Committee and Judges will not be nominating a short list this year, we are asking our International Editors to enter themselves. That said, if you work with or for a great International Editor, then why not enter them!!
The Seahorse Club, in keeping with its mission to encourage and reward excellence in transport journalism through its annual awards, has introduced a new category to recognise in-depth reporting. âThe Investigative Campaign of the Yearâ Award has been introduced and included in the attached criteria. The Seahorse Club wishes to recognise the importance of in-depth investigative and campaigning journalism in an era of commoditised news and at a time when media resources are under intense pressure.
Entries for all the Awards should be sent by email to Seahorse@portcare.com
Except for entries for the Social Media category, all articles must be submitted as a transferable file (PDF,JPEG or similar image file) and saved as low resolution as they will be forwarded to the judges electronically Regrettably links to content on websites will NOT be accepted. This is to aid the judging process and to avoid confusion over which articles are being submitted.
Please note that no entries will be accepted after the closing date of Friday 2nd November 2018
NEW â If you wish to send an accompanying letter of recommendation or explanation of your submission, we will now be accepting these for all categories. Any covering letters will be forwarded to the judges.
Three articles should be submitted for the Seahorse Journalist Award. However, any of these articles are also to be submitted for another award category in addition should be clearly marked with the name of the secondary category.
– Articles can be of any length;
– Articles must have been published during the last twelve-months i.e. November 2017 to October 2018.
For further details on the rules, formats and criteria contact the Seahorse Admin Team at:-
._____________________________________________________________________________________
3. Sustainable Ocean Summit (SOS) 2018–14 to 16 November ~ Hong Kong
The people over at the World Ocean Council have handed us their programme of events for Hong Kong kong next month.
The SOS 2018 session on âThe Role of the Ocean/Maritime Legal Community in Understanding and Addressing Risk and Opportunity in the Blue Economy and Ocean Sustainable Developmentâ will bring together leading members of the international legal community to consider how to best work with the ocean business community and other ocean stakeholders to address sustainable development.
A panel of leading legal community representatives will consider:
⢠What is the role of the ocean/maritime legal community in addressing the risks, opportunities and challenges of the growing and increasingly diverse ocean economy?
⢠What experience, lessons learned and ongoing efforts can the ocean/maritime legal community bring to help advance ocean sustainable development, and is there a need for greater collaboration amongst the ocean/maritime legal community on sustainable development?
⢠What are the priority ocean development and sustainability issues for engaging the ocean/maritime legal community – from the perspective of: a) the legal community, b) the overall ocean business community and c) other ocean stakeholders (e.g. government, NGOs)?
The international legal community is invited to participate in this forum and engage in the development of an international network of legal experts working in support of ocean sustainable development.
https://sustainableoceansummit.org/registration/
_____________________________________________________________________________________
4. Lease Accounting
Chris Hewer has sent in this update from shipping accountants Moore Stephens:-
The new lease accounting standard, IFRS 16 Leases, comes into effect for periods beginning on or after 1 January 2019. Shipping companies need to make sure they have assessed and understood its implications.
IFRS 16 has the biggest impact on lessees, for whom it removes the distinction between an operating lease and a finance lease, with all lease arrangements being brought onto the balance sheet. For all arrangements that meet the definition of a lease, other than those for a year or less, the lessee must determine and account for the lease liability and the related âright of use assetâ.
A key first step in applying IFRS 16 is to identify all arrangements that qualify as leases. A lease is a contract, or part of a contract, where one party has the right to control the use of an identified asset for a period of time in exchange for consideration. A lease may not exist if the owner has the right to substitute an alternative asset, the ability to do so, and there is an economic benefit from the substitution.
The concept of control is key. If a lessee can determine, for example, the route a vessel takes, whose cargo is carried, what cargo is carried and what speed the vessel may sail at, there will be control. This is still the case when there are some restrictions designed to protect the ownerâs interests, such as prohibitions on passing through areas known for piracy.
If a contract has multiple components, such as a time charter rather than a bareboat charter, the lessee may choose to separate the different components and account for each accordingly. This is only possible where the components are not highly dependent and the underlying asset can be used on its own, or with readily available resources. A time charter, for example would be split into an amount for the hire of the asset, and an amount for operating costs.
A right of use asset is recognised at the start of the lease contract. This is calculated as the lease liability (the present value of lease payments due) together with any payments made prior to commencement, direct costs incurred and any dismantling and restoration costs that are expected to arise at the end of the lease. There are various other accounting details to consider, such as whether the right of use asset is accounted for using a cost model or a revaluation model, and the need for re-measurement of the lease liability once a contract is under way.
IFRS 16 has less impact on lessors, for whom the distinction between finance and operating leases remains, with classification continuing to be set by whether the arrangement ‘transfers substantially all the risks and rewards incidental to ownership of the underlying asset’. The associated accounting also remains largely unchanged, although there are again some specific issues to consider.
See the factsheet, IFRS 16 – An introduction for shipping, for more details:-
https://www.moorestephens.co.uk/news-views/october/lease-accounting-are-you-up-to-speed-with-the-new
_____________________________________________________________________________________
5. Thanks Dad
Maritime poet Barrie Youde has been on great form lately:-
Recently I was in the Cotswolds with Katriina. In the window of an antique shop I saw a large model of a J-Class yacht and exclaimed, âHow beautiful!â Fired by my own enthusiasm, Katriina was keen to take a closer look. Upon closer inspection, the sails and rigging were unfortunately of mere toy-shop standard (i.e superficial, at best) and I quickly lost interest. Katriina observed, âSheâs too big anyway. We would need to have a grand piano on which to display her properly.â Her afterthought was, âWhy donât you restore the old boat on the landing at home?â She was referring to an old model of an International 14 ft sailing dinghy (much beloved by the late Sir Peter Scott in the immediate post-WWII years). This was a model which my Dad had built most lovingly for me when I was aged about five in 1948 and I had fecklessly neglected her ever since. Her sail and rigging were in a sorry state. Fired by Katriinaâs words of wisdom, on arrival home I set to work and duly restored Dadâs labour of love. Clinker-built, plank-by-plank on frames (albeit from a kit) the hours of labour which he put into her prick my conscience as never before. The model is twenty inches long. The hull is as sound as a bell. Thanks, Dad!!
Nelli
I have a boat. Her name is but the Nelli, of Parkgate,
Where sands of time have grounded her, increasingly, of late.
Clinker built, by keel and frames and planking, by my Dad,
When I was merely five years old, a wide-eyed, dreaming lad.
A model, built to scale she is, purporting fourteen feet.
Of International design. Best in the dinghy fleet.
When Dad was building her, I simply watched. I knew no more.
I didn’t then know how much he had learned. And knew before.
And how much love and care he built in every single inch.
The accuracy of his plan. Extravagance nor pinch.
It’s in the finest detail. There’s no cause now, for re-jigging.
I can but look in wonderment and now restore the rigging.
New sail I’ve made, and proudly. Dad’s great-grandpa, a sail-maker.
And who am I to follow? Yet I will. I must. I take her,
Into my dockyard here, now on my family kitchen table;
And do my best with thread and needle. Please may I be able
To reproduce the efforts of my forefathers of line,
By knots and splices, sewing, and an ample use of twine.
Thank you, Dad. I much regret I did not say it sooner.
It’s only now I know that once we owned a topsail schooner.
You didn’t tell me then. Although you knew it very well.
You simply saw your dreaming son was underneath your spell.
And did your best as you could see it, then, so long ago,
To teach, encourage, warn, as you could see it. Now I know.
Dearest Nelli, now restored to all your former glory.
You grace the hall at Deva Bank to tell the family story.
As well you can, in all respects, across the sands of Dee,
Of Mother, Father, Brother. My entire family-
And Wife and Daughters twain – who knew their Grandpapa at last.
Thank you, Dad. At age of five, you knew my die was cast.
You knew the trade in cheese from Chester, outward bound for sea,
To Europe and all points northwest, wherever trade might be,
You knew the finer points. You were a Conway Chief Cadet,
With modesty, as was your wont. The record lingers yet.
Thank you, Dad. You taught me to appreciate Pink Gin.
Full circle? Time for calculation? Where should I begin?
BY
09/10/2018
___________________________________________________________________________________
6. People and Places
Haynes and Boone has today announced the addition of new a shipping partner, Mark Johnson. He worked previously for law firm Reed Smith and prior to this was a former ship captain, serving 13 years in the Royal Navy.
———-
The World Shipping Council (WSC) has announced Tim Wickmann as its new Managing Director, Asia. Wickmann served most recently as CEO of MCC Transport, the intra-Asia arm of Maersk Line, and has worked in various leadership positions in international liner shipping for the last three decades. He will be based at the WSC Asian office which will be located in Singapore.
———-
Global ship tracking and intelligence company MarineTraffic has appointed Nikos Psaltopoulos as its first ever Chief Operating Officer (COO). The Athens headquartered company has grown significantly and is working to make MarineTraffic a more vital tool than ever before for maritime professionals through more data and partnerships.
Nikos Psaltopoulos background spans over three continents, and includes 15 years of experience in the pharmaceutical industry as well as roles advising numerous tech start-ups. He is an ambassador with Startup Grind, a global startup community powered by Google, and a founder of 1derground, an Australian website focusing on entrepreneurs and technology. Originally from Melbourne, Australia, Nikos has recently relocated to Athens to assume the role.
https://www.marinetraffic.com/
———–
The American Club and Seamenâs Church Institute have jointly published a mental wellbeing guide for seafarers:-
https://www.american-club.com/page/seafarer-wellness
._______________________________________________________________________________________
The Avo Archive
The website of this newsletter contains all the editorial material since the inception of the Maritime Advocate as a print based quarterly in 1997 under the founding aegis of John Guy, Chris Hewer and Manfred Arnold. Readers can go to the site and search the database on the home page in its entirety. If you are looking for an old case, an old controversy or you would just like to see how many times you and your firm have featured in our annals feel free to access the archive. It is like this e-zine, free to Readers and we always appreciate the support of advertisers and sponsors.
Work is underway to lodge the Archive within a new site for this publication.
____________________________________________________________________________________
Visualizing Data
Strikingly new ideas for visualising data, by foam Studio for BASF . The data set used here is for car and van colour trends
_________________________________________________________________________________
Flogging Dead Horses
These thoughts come from Paul Dixon’s Joke of the Day blog
The tribal wisdom of the Dakota Indians, passed on from generation to generation, says that when you discover that you are riding a dead horse, the best strategy is to dismount.
In modern education and expanded government, however, a whole range of far more advanced strategies are often employed, such as:
1. Buying a stronger whip.
2. Changing riders.
3. Threatening the horse with termination.
4. Appointing a committee to study the horse.
5. Arranging to visit other countries to see how others ride dead horses.
6. Lowering the standards so that dead horses can be included.
7. Re-classifying the dead horse as “living-impaired.”
8. Hiring outside contractors to ride the dead horse.
9. Harnessing several dead horses together to increase the speed.
10. Providing additional funding and/or training to increase the dead horse’s performance.
11. Doing a productivity study to see if lighter riders would improve the dead horse’s performance.
12. Declaring that as the dead horse does not have to be fed, it is less costly, carries lower overhead, and therefore contributes substantially more to the bottom line of the economy than do some other horses.
13. Rewriting the expected performance requirements for all horses.
14. Promoting the dead horse to a supervisory position.
15. As a last resort, sell it on Ebay.
__________________________________________________________________________________
Thanks for Reading the Maritime Advocate online
Maritime Advocate Online is a weekly digest of news and views on the maritime industries, with particular reference to legal issues and dispute resolution. It is published to over 21 000 individual subscribers each week and republished within firms and organisations all over the maritime world. It is the largest publication of its kind. We estimate it goes to around 60 000 Readers in over 120 countries.
c
