Singapore Shipping Corp

[Boon]

https://www.raetsmarine.com/sites/defaul...0cover.pdf
 
This is an interesting read on "Charterers Liability Insurance"…………………

It seems to me that charterers are exposed to more liabilities than shipowners.

“An owner of goods needs a ship to perform his Sale Contract (S/C). He may either be a CIF-seller or a FOB-buyer, the consequence of which will be that he must charter a ship and thereby becomes a Charterer. An owner of a ship needs goods to carry and will enter in to a Time charter (T/C) or a Voyage charter (V/C) to get employment for his ship. If owners of goods and owners of ships would be making shipping contracts directly between themselves the Bill of Lading (B/L) could be the single contract in the chain, however, reality in today's shipping is totally different. Each movement of ship and cargo is involving various parties in different identities, which is creating a complex chain of contracts …………..”

If charterers are covered with “Charterers Liability Insurance” and cargo owners have insured their goods with the cargo insurers => liabilities that shipowners are exposed to would be substantially reduced………………
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[Boon]

Interestingly, it appeared that MV Taurus Leader was ordered, together with MV Aries Leader, back in 2012 by NYK from at the same Japanese shipyard – both ships were built to the same specifications).
 
NYK took delivery of Aries in 2014 and SSC took delivery of Taurus in 2015. 
 
In another words, the “seller” of Taurus was NYK who is also the charterer – “sale and lease back of a newly built”.
 
2012:
 
NYK to Build Four New Pure Car and Truck Carriers
http://www.nyk.com/english/release/1964/NE_121015.html
 
2014:
 
Aries Leader:
New Car Carrier Aries Leader Delivered
http://www.nyk.com/english/release/3132/003318.html
 
http://worldmaritimenews.com/archives/12...for-japan/
 
http://www.shipsreview.net/aries-leader.html
 
2015:
 
Taurus Leader:
http://singaporeshipping.listedcompany.c...UXXP.1.pdf
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[greengiraffe]

Interestingly, it appeared that MV Taurus Leader was ordered, together with MV Aries Leader, back in 2012 by NYK from at the same Japanese shipyard – both ships were built to the same specifications).
 
NYK took delivery of Aries in 2014 and SSC took delivery of Taurus in 2015. 
 
In another words, the “seller” of Taurus was NYK who is also the charterer – “sale and lease back of a newly built”.
 
2012:
 
NYK to Build Four New Pure Car and Truck Carriers
http://www.nyk.com/english/release/1964/NE_121015.html
 
2014:
 
Aries Leader:
New Car Carrier Aries Leader Delivered
http://www.nyk.com/english/release/3132/003318.html
 
http://worldmaritimenews.com/archives/12...for-japan/
 
http://www.shipsreview.net/aries-leader.html
 
2015:
 
Taurus Leader:
http://singaporeshipping.listedcompany.c...UXXP.1.pdf
 _______________________________________________________

That's why SSC's ability to buy more ships in return for long term charters will be dependent on the pipeline of their principals bearing in mind that the growth in global vehicle shipments via roros are fairly stable.

Note also that SSC are not working with all the major roros that are operating in a cartel like industry

Vested
GG

[Boon]

Interestingly, it appeared that MV Taurus Leader was ordered, together with MV Aries Leader, back in 2012 by NYK from at the same Japanese shipyard – both ships were built to the same specifications).
 
NYK took delivery of Aries in 2014 and SSC took delivery of Taurus in 2015. 
 
In another words, the “seller” of Taurus was NYK who is also the charterer – “sale and lease back of a newly built”.
 
2012:
 
NYK to Build Four New Pure Car and Truck Carriers
http://www.nyk.com/english/release/1964/NE_121015.html
 
2014:
 
Aries Leader:
New Car Carrier Aries Leader Delivered
http://www.nyk.com/english/release/3132/003318.html
 
http://worldmaritimenews.com/archives/12...for-japan/
 
http://www.shipsreview.net/aries-leader.html
 
2015:
 
Taurus Leader:
http://singaporeshipping.listedcompany.c...UXXP.1.pdf
 _______________________________________________________

That's why SSC's ability to buy more ships in return for long term charters will be dependent on the pipeline of their principals bearing in mind that the growth in global vehicle shipments via roros are fairly stable.

Note also that SSC are not working with all the major roros that are operating in a cartel like industry

Vested
GG

Interesting facts from : NYK Fact Book I – 30th April 2015:
http://www.nyk.com/english/ir/library/fa...01_all.pdf
 
Page 4: NYK's Car Carriers – Fleet in operation (Plan):
31 March 2015 = 120
31 March 2017 = 125
31 March 2019 = 125
 
Page 9 : NYK's Car Carriers : Owned vs Chartered
31 March 2013 = 120 (32 owned vs 88 chartered)
31 March 2014 = 125 (30 owned vs 95 chartered)
31 March 2015 = 123 (28 owned vs 95 chartered)
 
Page 16 : Global Car Transport Fleet Ranking
NYK is rank no:1
 
Comments:
1)  If NYK is planning to expand its fleet of car carriers over the next few years – by “chartering more and owning less” => potentially it could mean more deals for SSC.
2)  Even if NYK could only maintain its current market share with no growth - hence no capacity expansion required – the fleet of carriers that it owns would still need to be replaced progressively as they reach the end of their useful life, with the passing of time – if NYK prefers to replace these “owned vessels” with “chartered vessels” => potentially it could mean more deals for SSC.
3)  Even in a stagnant (no growth) market + if NYK prefers to maintain the same fleet size that it owns => the contracts of its fleet of “chartered vessels” would expired progressively, with the passing of time => if NYK were to replace some of the “under-performing ship-owners” (assuming SSC is not one of them) => potentially it could mean more deals for SSC.
4)  My guess is it would be hard for SCC to double its current fleet size over the next few years without getting more deals from NYK - “More” or “No More” deals from NKK, only time will tell……………………..
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[BlueKelah]

Baltic dry index still at pretty crappy levels. No one looking at this?

sent from my Galaxy Tab S

[Boon]

Baltic dry index still at pretty crappy levels. No one looking at this?

sent from my Galaxy Tab S

What is the relevance of "dry bulk carrier" to "car carrier" ?
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[Boon]

Interestingly, it appeared that MV Taurus Leader was ordered, together with MV Aries Leader, back in 2012 by NYK from at the same Japanese shipyard – both ships were built to the same specifications).
 
NYK took delivery of Aries in 2014 and SSC took delivery of Taurus in 2015. 
 
In another words, the “seller” of Taurus was NYK who is also the charterer – “sale and lease back of a newly built”.
 
2012:
 
NYK to Build Four New Pure Car and Truck Carriers
http://www.nyk.com/english/release/1964/NE_121015.html
 
2014:
 
Aries Leader:
New Car Carrier Aries Leader Delivered
http://www.nyk.com/english/release/3132/003318.html
 
http://worldmaritimenews.com/archives/12...for-japan/
 
http://www.shipsreview.net/aries-leader.html
 
2015:
 
Taurus Leader:
http://singaporeshipping.listedcompany.c...UXXP.1.pdf
 _______________________________________________________

That's why SSC's ability to buy more ships in return for long term charters will be dependent on the pipeline of their principals bearing in mind that the growth in global vehicle shipments via roros are fairly stable.

Note also that SSC are not working with all the major roros that are operating in a cartel like industry

Vested
GG

Interesting facts from : NYK Fact Book I – 30th April 2015:
http://www.nyk.com/english/ir/library/fa...01_all.pdf
 
Page 4: NYK's Car Carriers – Fleet in operation (Plan):
31 March 2015 = 120
31 March 2017 = 125
31 March 2019 = 125
 
Page 9 : NYK's Car Carriers : Owned vs Chartered
31 March 2013 = 120 (32 owned vs 88 chartered)
31 March 2014 = 125 (30 owned vs 95 chartered)
31 March 2015 = 123 (28 owned vs 95 chartered)
 
Page 16 : Global Car Transport Fleet Ranking
NYK is rank no:1
 
Comments:
1)  If NYK is planning to expand its fleet of car carriers over the next few years – by “chartering more and owning less” => potentially it could mean more deals for SSC.
2)  Even if NYK could only maintain its current market share with no growth - hence no capacity expansion required – the fleet of carriers that it owns would still need to be replaced progressively as they reach the end of their useful life, with the passing of time – if NYK prefers to replace these “owned vessels” with “chartered vessels” => potentially it could mean more deals for SSC.
3)  Even in a stagnant (no growth) market + if NYK prefers to maintain the same fleet size that it owns => the contracts of its fleet of “chartered vessels” would expired progressively, with the passing of time => if NYK were to replace some of the “under-performing ship-owners” (assuming SSC is not one of them) => potentially it could mean more deals for SSC.
4)  My guess is it would be hard for SCC to double its current fleet size over the next few years without getting more deals from NYK - “More” or “No More” deals from NKK, only time will tell……………………..
_____________________________________________________________________

CAPRICORNUS LEADER
 – used to be owned and managed by NYK
http://www.shipspotting.com/gallery/phot...id=1743696
 
CENTAURUS LEADER
- used to be owned and managed by Wilhelmsen and was chartered to NYK, as in 2009
http://www.shipspotting.com/gallery/phot...lid=904775
 
-      Wondering who owned the vessel (NYK or Wilhelmsen?) at the time it was sold to SSC ?
-      Maybe it was NYK who has the option to buy it from Wilhelmsen at the end of the charter period and subsequently sold it together with Capricornus to SSC and leased back.
 
Interesting point was SSC got both deals ! (and the Taurus deal as well) 
_________________________________________________

[Contrarian]

3) Even in a stagnant (no growth) market + if NYK prefers to maintain the same fleet size that it owns => the contracts of its fleet of “chartered vessels” would expired progressively, with the passing of time => if NYK were to replace some of the “under-performing ship-owners” (assuming SSC is not one of them) => potentially it could mean more deals for SSC.

4) My guess is it would be hard for SCC to double its current fleet size over the next few years without getting more deals from NYK - “More” or “No More” deals from NKK, only time will tell……………………..

NYK RORO network and customer base is expanding. And SSC has not been doing a good job serving NYK, NYK will not give the contracts to SSC. Not easy to gain trust of Japanese, but once u prove your capability, they will open red carpet for you.

Ow said if he can charter 40 ships to NYK he will, because he says a charter from NYK is very coveted. Trust him or doubt him...
Maybe even the bank loan with Japanese bank is arranged by NYK haha...

[Contrarian]

> SSC are not working with all the major roros that are operating in a cartel like industry

If roros know SSC working closely with NYK, is there cause for worry? If ROROs can handle the operations better than SSC, they wont open the door to SSC. Or if the term is lousy for SSC, i dont think Ow will want the charter deal.

Make sense?

[Boon]

> SSC are not working with all the major roros that are operating in a cartel like industry

If roros know SSC working closely with NYK, is there cause for worry?  If ROROs can handle the operations better than SSC, they wont open the door to SSC.  Or if  the term is lousy for SSC, i dont think Ow will want the charter deal.

Make sense?

SSC do work with other RORO majors including Mitsui O.S.K. Lines (Rank No:2 behind NYK – charterer of Cougar Ace) and WALLENIUS LINES (Rank No:6 – charterer of Boheme)
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