Loading of steels is usually taking place from countries where there is a long rainy season. Sometimes, steel cargoes are loaded in part of a larger vessel and in this case, care should be taken not to load incompatible cargoes e.
Instead, they give Shipowners another LOI to indemnify them against any cargo claim Isteelasia a secure neutral steel trading discharge port.
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Under this category, there is a considerable variety of cargoes ranging from materials such as bars, billets, rods and beams to plate, coils and pipes.
Upon loading, the Master must ensure that all the steel products are dry.
Since Shippers and Charterers do not want the vessels to delay, they ask Shipowners to accept loading to continue under rain or slight rain and time to count.
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By return, they give a Letter of Indemnity LOI that they will indemnify Shipowners in case of any cargo claim at the discharge port. Get started for free.
Please input your name Please use english language Invalid symbols: The below table summarizes the trade volume of steel products during the last 5 years as compared with the total trade of minor bulk commodities. A personalized Trading Center that keeps track of your buying and selling negotiations, yet provides an industry standard level of data security and privacy.
The main issue is that steel products are sensitive to corrosion and sometimes they can either be already corroded upon loading or damaged during the voyage if they are not handled properly. However, this is very risky for shipowners since in case the steel becomes wet may be easily corroded while the LOI does not necessarily cover the Owners or any cargo claim may not be recovered from the Charterers.
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We can also understand the importance of steel production and trade for the dry bulk market, if we consider that the dry bulk freight market has also experienced a big boom during the same period.
In this case, Charterers should always check the max. News from a variety of external sources, plus industry reports and perspectives from our experienced in-house editorial staff. We have seen in the previous article the role of the minor dry bulk commodities for the dry bulk market and steel products kept a leading position in this list.
Sometimes, the cargoes into Caribbean, Mexica and USA can be parceling of small shipments into a larger vessel handysize or supramax so as the freight rate to makes sense.
Get the latest updates first. Sea trade of steel products in million tons Source:Isteelasia Case Study. I Steel Asia case iSteelAsia is a secure, neutral steel trading e-commerce platform created by Andrew Cho Fai in december for steel industry professionals.
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I Steel Asia case iSteelAsia is a secure, neutral steel trading e-commerce platform created by Andrew Cho Fai in december for steel industry professionals. - Steel Asia Case Study iSteelAsia is a secure, neutral steel trading e-commerce platform created by Andrew Cho Fai in december for steel industry professionals.
Indeed, iSteelAsia enables users to purchase and sell steel, network with a global community of steel traders and find informations and news concerning steel industry.Download