SHIPPING

ICCSL educates on maritime crime and trade malpractices

To be inaugurated by Chairman SLPA Dr. Priyath B Wickrama:

Sri Lanka which has been identified as an emerging maritime centre, the International Chamber of Commerce (ICC) Sri Lanka, has decided to conduct a one day training workshop on Maritime Crime and Trade Malpractices. The event is being initiated in association with the Shippers’ Academy Colombo.

As the world is going through a global recession, market conditions have become extremely volatile, creating greater imbalances in international trade.

The risks of malpractices and fraud, therefore has increased as criminals and companies who are in difficulty may attempt various practices to unlawfully take control of cargo or forge documents that would finally lead to non-payments for consignments shipped. The trend of this kind of activity was more prevalent during uncertain times where markets and prices could change over night. The ICC has invited Director, International Maritime Bureau (IMB) London P Mukundan, a world renowned expert on the subject to conduct the workshop.

IMB being a specialised division of the International Chamber of Commerce, was to protect the integrity of International Trade by seeking out fraud and malpractices as its main task. It has a large database and industry knowledge with great experience and access to a large number of well placed contacts around the world, where various case studies were in hand for the industry to understand the pitfalls of international trade. The IMB investigates frauds, spots new criminal methods and trends affecting the flow of global trade.

Maritime crime and trade malpractices have in fact affected many Sri Lankan companies, over the last three decades after the liberalising of the economy. Many companies have suffered due to various unlawful activities while losing thousands of dollars by engaging in wrong practices. Mukundan was expected to cover a range of topics in the up coming event organised by the ICC Sri Lanka.

Among them are:

1. Trade finance frauds - This topic would discuss the threats and risks to banks, when handling documentation and other methods used for money laundering. The area would also cover major risks to buyers (importers) and sellers (exporters) who need to understand the pitfalls and the means to secure cargo as well as payments.

2. Cargo and insurance fraud and container crime - This area would cover various acts related to bills of lading frauds, charter party failures, loss of cargo at sea and other implications that were due to deviation of vessels. In many cases, this area was very relevant to the local industry as all exporters, importers, banks and insurance companies could be at risk due to large amounts of B/Ls being issued through various parties in the supply chain.

Identifying crime and knowing what to be cautious of would help companies to minimize risks and protect valuable cargo by taking precautions and being thorough with documentation.

Among other topics, the speaker would speak on the threat of modern piracy and the implications to global trade as well as sanctions and its responsibilities, where actual case studies would be discussed with the participants.

The ICC has extended the invitation to all industrialists who were involved in international trade or service providers, facilitators of such trade, to send their senior staff as well as new comers to the industry to get an understanding on the risks of crime and malpractices.

The ICC believes that bankers, insurance companies, shipping lines, shippers, law firms, freight forwarders & other logistics service providers should participate in this training session which was conducted once in three years with the International Maritime Bureau, London. The workshop is scheduled to be held on Tuesday July 05, 2011, from 8.30 am to 5 pm at the Hotel Taj Samudra. Participants would be awarded with certificates.

Class NK President visits Colombo Dockyard

The high profile delegation from Class NK, headed by Chairman and President of Class NK (Nippon Kaili Kyokai) Noboru Ueda accompanied by senior Class NK officials Manager Y. Seto, Regional Manager Dr. M. Rahim, GM, NK Mumbai, A.V. Pradhan, Manager NK Mumbai S. Sampath and Manager NK Singapore Higashi visited Colombo Dockyard PLC on June 14. 2011 on a courtesy call. The senior officials of Colombo Dockyard headed by Chairman A. Nakauchi were present at this meeting.

During this visit, a brief presentation of Colombo Dockyard, on the capabilities of yard on ship repair, shipbuilding, heavy engineering and offshore engineering activities was made by Head of Marketing, Ship Repairs Darshana Chandrasekera and subsequently an inspection of the shipyard was made.

The high profile Class NK delegation’s visit to Colombo Dockyard was to announce the opening of the exclusive Class NK Local Area Representative office in Colombo on June 14, 2011.

Increasingly, active local marine sector had been attracting many international ship owners / lines to Colombo for repairs, cargo other support service requirements. This was resultant of the highly conducive business climate in the country.

70th CARI Convention

The Asian Shippers’ Council has addressed the 70th CARI convention in Canada (Canadian Association of Recycling Industries) last week.

-The Secretary General of the Asian shippers’ Council (ASC) Rohan Masakorala, was invited to address the CARI convention in Vancouver, Canada where the 70th annual sessions which began on June 23.

The convention theme was “Beyond North America”, to focus on the growing international aspect of the recycling industry.

Masakorala had delivered a presentation on New Trading Markets, where he as the ASC Secretary General representing 16 maritime nations, spoke on behalf of Asia. The convention was keen to understand the aspects of international trading and the logistical side when shipping to Asia.

There were the obvious regulatory and other government issues that were addressed in order to ship to all countries.

ASC conveyed its suggestions to the delegates the pitfalls to avoid and other advice to expedite shipping for both bulk and container shipments to Asia.