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A Review of the Preferred Ship Mortgage
Fordham Law Review Volume 31 Issue 2 Article 1 1962 Security at Sea: A Review of the Preferred Ship Mortgage Richard Gyory Follow this and additional works at: https://ir.lawnet.fordham.edu/flr Part of the Law Commons Recommended Citation Richard Gyory, Security at Sea: A Review of the Preferred Ship Mortgage, 31 Fordham L. Rev. 231 (1962). Available at: https://ir.lawnet.fordham.edu/flr/vol31/iss2/1 This Article is brought to you for free and open access by FLASH: The Fordham Law Archive of Scholarship and History. It has been accepted for inclusion in Fordham Law Review by an authorized editor of FLASH: The Fordham Law Archive of Scholarship and History. For more information, please contact [email protected]. Security at Sea: A Review of the Preferred Ship Mortgage Cover Page Footnote The author wishes to acknowledge the helpful suggestions of Martin Gold, Esq. and Lloyd Reed, Esq. of the New York Bar. *Member of the New York Bar This article is available in Fordham Law Review: https://ir.lawnet.fordham.edu/flr/vol31/iss2/1 SECURITY AT SEA: A REVIEW OF THE PREFERRED SHIP MORTGAGEt RICHARD GYORY* IN JU TE 1920, Congress climaxed a burst of legislative activity directed to the Merchant Marine by passing the Ship Mortgage Act.' Its purpose was to furnish realistic financing for the maritime field, and to help the Government dispose of three billion dollars' worth of tonnage acquired during World War I.2 Entering its fifth decade, the preferred ship mortgage is the subject of extensive economic activity on the part of the Government and pri- vate investors.3 At the same time, the preferred ship mortgage is under- going the most intense litigational period in its history." This litigation I The author wishes to acknowledge the helpful suggestions of Martin Gold, Esq. -
Duties Owed by Mortgagees of Ships When Exercising Their “Power of Sale” September 2018
BRIEFING DUTIES OWED BY MORTGAGEES OF SHIPS WHEN EXERCISING THEIR “POWER OF SALE” SEPTEMBER 2018 ● ENGLISH ADMIRALTY COURT SUMMARISES MORTGAGEE’S DUTIES UNDER ENGLISH LAW ON SALE OF A SHIP ● LIBERIAN AND MARSHALL ISLANDS FLAG SHIPS WILL LOOK TO US LAW AND UNIFORM COMMERCIAL CODE ● BEST GUIDANCE OF MARKET VALUE IS EVIDENCE OF ACTUAL SALES OF SIMILAR VESSELS In the recent case of Close Brothers v (1) AIS (Marine) 2 Limited and (2) Paul Chandler1, the English Admiralty Court has reviewed and provided a helpful summary of a mortgagee’s duties under English law on sale of a ship. The decision is a useful reminder that a mortgagee will need to consider more than its own interests in such a situation. Background Ship mortgages registered in many flag states (including the UK, Singapore, Hong “‘SELF-HELP’ REMEDIES, Kong, Gibraltar, Cyprus, Malta, the Marshall Islands and Liberia) entitle the MAY GIVE MUCH QUICKER mortgagee, when the mortgage becomes enforceable to sell the mortgaged ship by using its ‘power of sale’ in the mortgage and/or its appointment as the owner’s AND MORE COST- attorney under the general power of attorney granted in the mortgage. These rights, EFFECTIVE RELIEF THAN sometimes known as ‘self-help’ remedies, may give much quicker and more cost- FORMAL COURT ARREST effective relief than formal court arrest and sale processes, which can take many months or even years in some parts of the world. AND SALE PROCESSES.” A mortgagee who enforces its security by exercising its ‘power of sale’ must not, however, overlook its defaulting owner’s interest in the ship, sometimes called the ‘equity of redemption’, when concluding such a sale. -
Regulatory Issues in International Martime Transport
Organisation de Coopération et de Développement Economiques Organisation for Economic Co-operation and Development __________________________________________________________________________________________ Or. Eng. DIRECTORATE FOR SCIENCE, TECHNOLOGY AND INDUSTRY DIVISION OF TRANSPORT REGULATORY ISSUES IN INTERNATIONAL MARTIME TRANSPORT Contact: Mr. Wolfgang Hübner, Head of the Division of Transport, DSTI, Tel: (33 1) 45 24 91 32 ; Fax: (33 1) 45 24 93 86 ; Internet: [email protected] Or. Eng. Or. Document complet disponible sur OLIS dans son format d’origine Complete document available on OLIS in its original format 1 Summary This report focuses on regulations governing international liner and bulk shipping. Both modes are closely linked to international trade, deriving from it their growth. Also, as a service industry to trade international shipping, which is by far the main mode of international transport of goods, has facilitated international trade and has contributed to its expansion. Total seaborne trade volume was estimated by UNCTAD to have reached 5330 million metric tons in 2000. The report discusses the web of regulatory measures that surround these two segments of the shipping industry, and which have a considerable impact on its performance. As well as reviewing administrative regulations to judge whether they meet their intended objectives efficiently and effectively, the report examines all those aspects of economic regulations that restrict entry, exit, pricing and normal commercial practices, including different forms of business organisation. However, those regulatory elements that cover competition policy as applied to liner shipping will be dealt with in a separate study to be undertaken by the OECD Secretariat Many measures that apply to maritime transport services are not part of a regulatory framework but constitute commercial practices of market operators. -
Coast Guard, DHS § 2.01–25
Coast Guard, DHS § 2.01–25 § 2.01–20 Suspension or revocation of ganization authorized by the Coast certificates of inspection. Guard. Under the authority if 46 U.S.C. 3313 (viii) International Ship Security and 46 U.S.C. 3710, a certificate of in- Certificate (ISSC). spection issued to a vessel may be sus- (3) When authorized by the Com- pended or revoked if a vessel is found mandant, U.S. Coast Guard, the Amer- not to comply with the terms of its ican Bureau of Shipping may issue the certificate or fails to meet a standard Cargo Ship Safety Construction Cer- required by this chapter. tificate to cargo and tankships which it classes. [CGD 95–028, 62 FR 51195, Sept. 30, 1997, as (4) The Federal Communications amended by USCG-1998–4442, 63 FR 52188, Commission will issue the following Sept. 30, 1998; USCG-2004–18884, 69 FR 58341, Sept. 30, 2004] certificates: (i) Cargo Ship Safety Radio Certifi- § 2.01–25 International Convention for cate. Safety of Life at Sea, 1974. (ii) Exemption Certificate. (a) Certificates required. (1) The Inter- (b) Applications. (1) The application national Convention for Safety of Life for inspection and issuance of a certifi- at Sea, 1974, requires one or more of cate or certificates is made on the ap- the following certificates to be carried propriate form listed in § 2.01–1, or by on board certain passenger, cargo or letter, to the Officer in Charge, Marine tankships engaged in international Inspection, in or nearest the port at voyages: which the inspection is to be made and (i) Passenger Ship Safety Certificate. -
Fifty Third Year the Jewish Publication Society Of
REPORT OF THE FIFTY THIRD YEAR OF THE JEWISH PUBLICATION SOCIETY OF AMERICA 1940 THE JEWISH PUBLICATION SOCIETY OF AMERICA OFFICERS PRESIDENT J. SOLIS-COHEN, Jr., Philadelphia VICE-PRESIDENT HON. HORACE STERN, Philadelphia TREASURER HOWARD A. WOLF, Philadelphia SECRETARY-EXECUTIVE DIRECTOR MAURICE JACOBS, Philadelphia EDITOR DR. SOLOMON GRAYZEL, Philadelphia HONORARY VICE-PRESIDENTS ISAAC W. BERNHEIM3 Denver SAMUEL BRONFMAN* Montreal REV. DR. HENRY COHEN1 Galveston HON. ABRAM I. ELKUS3 New York City Louis E. KIRSTEIN1 Boston HON. JULIAN W. MACK1 New York City JAMES MARSHALL2 New York City HENRY MONSKY2 Omaha HON. MURRAY SEASONGOOD3 Cincinnati HON. M. C. SLOSS3 San Francisco HENRIETTA SZOLD2 Jerusalem TRUSTEES MARCUS AARON3 Pittsburgh PHILIP AMRAM3 Philadelphia EDWARD BAKER" Cleveland FRED M. BUTZEL2 Detroit J. SOLIS-COHEN, JR.3 Philadelphia BERNARD L. FRANKEL2 Philadelphia LIONEL FRIEDMANN3 Philadelphia REV. DR. SOLOMON GOLDMAN3 Chicago REV. DR. NATHAN KRASS1 New York City SAMUEL C. LAMPORT1 New York City HON. LOUIS E. LEVINTHALJ Philadelphia HOWARD S. LEVY1 Philadelphia WILLIAM S. LOUCHHEIM3 Philadelphia 1 Term expires in 1941. 2 Term expires in 1942. 3 Term expires in 1943. 765 766 AMERICAN JEWISH YEAR BOOK REV. DR. LOUIS L. MANN' Chicago SIMON MILLER2 Philadelphia EDWARD A. NORMAN3 New York City CARL H. PFORZHEIMER1 New York City DR. A. S. W. ROSENBACH1 Philadelphia FRANK J. RUBENSTEIN2 Baltimore HARRY SCHERMAN1 New York City REV. DR. ABBA HILLEL SILVERJ Cleveland HON. HORACE STERN2 Philadelphia EDWIN WOLF, 2ND* Philadelphia HOWARD A. WOLF* Philadelphia PUBLICATION COMMITTEE HON. LOUIS E. LEVINTHAL, Chairman Philadelphia REV. DR. BERNARD J. BAMBERGER Albany REV. DR. MORTIMER J. COHEN Philadelphia J. SOLIS-COHEN, JR Philadelphia DR. -
Ims List Sanitation Compliance and Enforcement Ratings of Interstate Milk Shippers April 2017
IMS LIST SANITATION COMPLIANCE AND ENFORCEMENT RATINGS OF INTERSTATE MILK SHIPPERS APRIL 2017 U.S. Department of Health and Human Services Public Health Service Food and Drug Administration Rules For Inclusion In The IMS List Interstate milk shippers who have been certified by State Milk sanitation authorities as having attained the milk sanitation compliance ratings are indicated in the following list. These ratings are based on compliance with the requirements of the USPHS/FDA Grade A Pasteurized Milk Ordinance and Grade A Condensed and Dry Milk Products and Condensed and Dry Whey and were made in accordance with the procedures set forth in Methods of Making Sanitation Rating of Milk Supplies. *Proposal 301 that was passed at 2001 NCIMS conference held May 5-10, 2001, in Wichita, Kansas and concurred with by FDA states: "Transfer Stations, Receiving Stations and Dairy Plants must achieve a sanitation compliance rating of 90 or better in order to be eligible for a listing in the IMS List. Sanitation compliance rating scores for Transfer and Receiving Stations and Dairy Plants will not be printed in the IMS List". Therefore, the publication of a sanitation compliance rating score for Transfer and Receiving Stations and Dairy Plants will not be printed in this edition of the IMS List. THIS LIST SUPERSEDES ALL LISTS WHICH HAVE BEEN ISSUED HERETOFORE ALL PRECEDING LISTS AND SUPPLEMENTS THERETO ARE VOID. The rules for inclusion in the list were formulated by the official representatives of those State milk sanitation agencies who have participated in the meetings of the National Conference of Interstate Milk Shipments. -
Chapter 17. Shipping Contributors: Alan Simcock (Lead Member)
Chapter 17. Shipping Contributors: Alan Simcock (Lead member) and Osman Keh Kamara (Co-Lead member) 1. Introduction For at least the past 4,000 years, shipping has been fundamental to the development of civilization. On the sea or by inland waterways, it has provided the dominant way of moving large quantities of goods, and it continues to do so over long distances. From at least as early as 2000 BCE, the spice routes through the Indian Ocean and its adjacent seas provided not merely for the first long-distance trading, but also for the transport of ideas and beliefs. From 1000 BCE to the 13th century CE, the Polynesian voyages across the Pacific completed human settlement of the globe. From the 15th century, the development of trade routes across and between the Atlantic and Pacific Oceans transformed the world. The introduction of the steamship in the early 19th century produced an increase of several orders of magnitude in the amount of world trade, and started the process of globalization. The demands of the shipping trade generated modern business methods from insurance to international finance, led to advances in mechanical and civil engineering, and created new sciences to meet the needs of navigation. The last half-century has seen developments as significant as anything before in the history of shipping. Between 1970 and 2012, seaborne carriage of oil and gas nearly doubled (98 per cent), that of general cargo quadrupled (411 per cent), and that of grain and minerals nearly quintupled (495 per cent) (UNCTAD, 2013). Conventionally, around 90 per cent of international trade by volume is said to be carried by sea (IMO, 2012), but one study suggests that the true figure in 2006 was more likely around 75 per cent in terms of tons carried and 59 per cent by value (Mandryk, 2009). -
Hornblower's Ships
Names of Ships from the Hornblower Books. Introduction Hornblower’s biographer, C S Forester, wrote eleven books covering the most active and dramatic episodes of the life of his subject. In addition, he also wrote a Hornblower “Companion” and the so called three “lost” short stories. There were some years and activities in Hornblower’s life that were not written about before the biographer’s death and therefore not recorded. However, the books and stories that were published describe not only what Hornblower did and thought about his life and career but also mentioned in varying levels of detail the people and the ships that he encountered. Hornblower of course served on many ships but also fought with and against them, captured them, sank them or protected them besides just being aware of them. Of all the ships mentioned, a handful of them would have been highly significant for him. The Indefatigable was the ship on which Midshipman and then Acting Lieutenant Hornblower mostly learnt and developed his skills as a seaman and as a fighting man. This learning continued with his experiences on the Renown as a lieutenant. His first commands, apart from prizes taken, were on the Hotspur and the Atropos. Later as a full captain, he took the Lydia round the Horn to the Pacific coast of South America and his first and only captaincy of a ship of the line was on the Sutherland. He first flew his own flag on the Nonsuch and sailed to the Baltic on her. In later years his ships were smaller as befitted the nature of the tasks that fell to him. -
Stevedoring Level 1
LEARNERS GUIDE Transport and Logistics - Stevedoring Level 1 Commonwealth of Learning (COL) Virtual University for Small States of the Commonwealth (VUSSC) Copyright The content contained in this course’s guide is available under the Creative Commons Attribution Share-Alike License. You are free to: Share – copy, distribute and transmit the work Remix – adapt the work. Under the following conditions: Attribution – You must attribute the work in the manner specified by the author or licensor (but not in any way that suggests that they endorse you or your use of the work). Share Alike – If you alter, transform, or build upon this work, you may distribute the resulting work only under the same, similar or a compatible license. For any reuse or distribution, you must make clear to others the license terms of this work. The best way to do this is with a link to this web page. Any of the above conditions can be waived if you get permission from the copyright holder. Nothing in this license impairs or restricts the author’s moral rights. http://creativecommons.org/licenses/by-sa/3.0/ Commonwealth of Learning (COL) December 2009 The Commonwealth of Learning 1055 West Hastings St., Suite 1200 Vancouver BC, V6E 2E9 Canada Fax: +1 604 775-8210 E-mail: [email protected] Website: www. www.col.org/vussc Acknowledgements The VUSSC Team wishes to thank those below for their contribution to this Transport and Logistics / Stevedoring - Level 1 learners’ guide. Alexandre Alix Bastienne Seychelles, Africa Fritz H. Pinnock Jamaica, Caribbean Mohamed Liraar Maldives, Asia Ibrahim Ajugunna Jamaica, Caribbean Maxime James Antigua and Barbuda, Caribbean Griffin Royston St Kitts and Nevis, Caribbean Vilimi Vakautapola Vi Tonga, Pacific Neville Asser Mbai Namibia, Africa Kennedy Glenn Lightbourne Bahamas, Caribbean Glenward A. -
1963 REGISTRATION of SHIPS UNDER CONSTRUCTION 2 .Pdf 195.65 KB
(iNTERNATIONALMARITIME COMMITTEE J International Subcommittee on REGISTRATION OF SHIPS UNDER CONSTRUCTION 2. REPLIES TO QUESTIONNAIRE ITALY RSC 4 SWEDEN RSC 5 DENMARK RSC 6 NETHERLANDS RSC 7 GERMANY RSC8 FEBRUARY 1963 RSC -4 11 - 62 ITALIAN MARITIME LAW ASSOCIATION REGISTRATION OF SHIPS UNDER CONSTRUCTION REPLY TO THE QUESTIONNAIRE I. The questionnaire. Registration of ships under construction in an official register is compulsory in Italy, pursuant to article 233 of the navigation code which reads as follows 233. (Declaration of construction). Whoever undertakes the con- struction of a vessel or craft shall previously file with the competent office of the place where the construction of the hull is going to be carried out a declaration thereof indicating the yard and the factory where the hull and the propelling machinery will be constructed. and the names of the persons who will be in charge of such construction. The office shall register such declaration in the register of ships under construction. The changement of the persons in charge of the constructions shall likewise be notified to the office and endorsed on the registrar. Registration of ships under construction must be effected, as stated in article 233 of the navigation code, prior to the commencement of the construction. The following instruments may be registered, when they refer to ships under construction: Shipbuilding contracts (article 238 of the navigation code). Contracts of sale (art. 2684 n. i of the civil code). Contracts which constitute or modify rights of usufruct or of use on a ship or which transfer such rights (article 2684 n. 2 of the civil code). -
The Ki Ng of Conyos
The Ki ng of Conyos Gustaf Erikson's sai,ling shi,ps Bjtirn Senneby's watercolors sIoHrsToRrsKA en del av STATENS MARITIMA MUSEER ri#{ffi' r+f,**&:;]!$@$j! jr:+{ff 1*.; ff. Pamir Watercolor fu Bji;rn Senneby. GUSTAF ERIKSON The ship's owner, Gustaf Erikson, was born on Europe. The shipping company w:ls at its largest z4 October, r87z in Lemland, in southern Åland. in rg35, when Gustav was 58 years old. At the Both his father and grandfather had worked at time, the company had z9 vessels r5 of which sea. Gustafsson started his life at sea as a tG'year- were large sailing ships without alternative means old, when he served as a cabin boy on the bark of propulsion. GustafAdolf Mauritz Erikson died Neptun over the summer. When he reached r3, on August Lbn, rg47 in Mariehamn. he worked as a cook on the same vessel. He Gustaf Erikson was also part owner of advanced through the ranks and in r89r, at rg several steamers and motor vessels, but it was as years old, was the master's assistant on the barque the owner of the great sailing ships that he was Southern Bellc.In rgoo he took his captain's exlm best known. Four of his large sailing vessels, all and betr,veen 19o6 and r9r3 he was an executive four-masted steel barques, are preserved to this officer on different oceangoing voyages. day: Moshulu,whichwon the lastgrain race tggg, Over the years he had bought shares in is now a restaurant in Philadelphia, USA. -
Etir Code Lists
eTIR Code Lists Code lists CL01 Equipment size and type description code (UN/EDIFACT 8155) Code specifying the size and type of equipment. 1 Dime coated tank A tank coated with dime. 2 Epoxy coated tank A tank coated with epoxy. 6 Pressurized tank A tank capable of holding pressurized goods. 7 Refrigerated tank A tank capable of keeping goods refrigerated. 9 Stainless steel tank A tank made of stainless steel. 10 Nonworking reefer container 40 ft A 40 foot refrigerated container that is not actively controlling temperature of the product. 12 Europallet 80 x 120 cm. 13 Scandinavian pallet 100 x 120 cm. 14 Trailer Non self-propelled vehicle designed for the carriage of cargo so that it can be towed by a motor vehicle. 15 Nonworking reefer container 20 ft A 20 foot refrigerated container that is not actively controlling temperature of the product. 16 Exchangeable pallet Standard pallet exchangeable following international convention. 17 Semi-trailer Non self propelled vehicle without front wheels designed for the carriage of cargo and provided with a kingpin. 18 Tank container 20 feet A tank container with a length of 20 feet. 19 Tank container 30 feet A tank container with a length of 30 feet. 20 Tank container 40 feet A tank container with a length of 40 feet. 21 Container IC 20 feet A container owned by InterContainer, a European railway subsidiary, with a length of 20 feet. 22 Container IC 30 feet A container owned by InterContainer, a European railway subsidiary, with a length of 30 feet. 23 Container IC 40 feet A container owned by InterContainer, a European railway subsidiary, with a length of 40 feet.