What nationalities are meaning your vessels?

7 ) What nationalities are intending your vass? Why do you believe the company decided to crew their vass with this or those nationalities? Do you see any jobs or disadvantages by such crewing?

Solstad Offshore ASA has about 1000 employees, of which 45 are administrative personell and the remainder are mariners runing the Group ‘s vass. About 70 % of our employees are Norwegians. Our fleet operates in all parts of the universe. Of the fleets 50 vass, our offices in Skudesneshavn and Aberdeen are runing 34 of them. These vass operates on the Brazilian Continental Shelf, Gulf of Mexico, West Africa, Asia, Mediterranean and of class the North Sea. The remainder of our fleet are managed and operated by NOR in Singapore. Our employees ‘ nationalities reflect where we have our chief activity. Since most of our fleet operates in the North Sea, about 700 of our employees are Norwegians.

One ground for engaging mariners from the state they operate in might be partially cost-motivated and partially the Torahs of the state of which they operate. Another ground might be of a more practical affair. When runing in topographic points like the Brazilian Continental Shelf and Asia, will the demand for local cognition and person who knows the linguistic communication come good in manus.

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A challenge, as we see it, with holding mariners from different states working together on the same vas, be the communicating facet. It may take a piece to larn each other ‘s civilization, which can be important to understand and pass on good with each other – particularly mariners from non-western states. Another critical issue sing assorted nationalities working together on board the same vas is the rewards. The fact that Norse mariners earn more than mariners from for case the Philippines, may take to conflict if they brag about it. It ‘s hence of import to seek to avoid those sorts of subjects, when working together with aliens.

8 ) Under which flags are your vass registered? Why do you believe this or those flags were chosen? Do you see any disadvantages with this or those flag provinces?

Most of our vass are sailing under the Norse flag in the Norse ordinary registry ( NOR ) and some in the Norse International Ship registry ( NIS ) , but we have seven vass that is registered on Isle of Man ( IoM ) and approx 10 vass registered in Singapore. The vass that are registered in IoM are all offshore building support vass ( CSV ) , and they are largely runing in the Gulf of Mexico, the North Sea and one vas in West Africa. The Singapore registered vass are runing in Asia and Australia, and they are managed and operated by NOR Offshore in Singapore. To register a vas in either NIS and NOR the transportation company ‘s headquarter must be in Norway. The biggest difference between the to registries is that NIS vass are made freer than NOR vass in relation to certain parts of Norse jurisprudence, including statute law on the crew ‘s rewards and working conditions. Vessels registered in NIS are non aloud to transport lading or riders between Norse ports nor be runing in scheduled rider conveyance between Norse and foreign ports.

Solstad Offshore ‘s NIS registered vass are runing in foreign Waterss such as the Gulf of Mexico and on the Brazilian Continental Shelf. To run into the competition Norse mariners got from Swedish and Danish, there were made a refund. The footing for ciphering the refund under this strategy are the gross rewards paid to all mariners on the ship that is nonexempt to Norway, who are entitled to seaman ‘s tax write-off, and where rewards are reported to the Pension Insurance for mariners.

There are approx. 20 vass runing in the North Sea at all clip, and most of them are in the NOR registry. The good thing about the NOR registry is the net wage agreement. Equally long as the vas is working for an oil company associated concrete installings on the Norse shelf and the mariners pay revenue enhancement to Norway, the company is covered by the strategy. Although some may see the net wage agreement merely as a direct subsidy of the maritime/offshore industry, there is no uncertainty that it encourages the Norse transportation companies to take Norse mariners.

IoM is officially established under the UK, but is non straight managed by the “ proprietor province ” . It offers many benefits to those who want to register a vas under their flag. They take clasp of being a cost effectual Centre in which to set about transportation concern, by offer a nothing rate corporation revenue enhancement applicable to transporting related net incomes.

The pick of flag province is a manner for the ship proprietors to cut down their costs. Solstad Offshore can bask low revenue enhancement and less rigorous ordinance sing those vass registered in IoM. The vass registered in Singapore may hold cost per crewmember up to 50 % lower than vass registered in Europe

One disadvantage with both NIS and IoM is that they ca n’t run freely on the Norse shelf, like the NOR registered vass can. Then once more, vass in NOR are bound by Norse duty rewards which means that all workers, irrespective nationality, have to be pay by Norse criterion.

10 ) Explain, in short, different types of ship insurance. Where are your vass insured?

The insurance of a ship is separated into two parts ; Casco insurance ( hull & A ; machinery – H & A ; M ) which covers amendss to have ship and the insurance against 3rd party amendss called protection and insurance insurance ( P & A ; I )

Typically insurance histories for 14 % of the OPEX. To protect the proprietor of the vas against physical loss or harm, two-thirds of the insurance cost is to see the H & A ; M. This insurance can either be bought from a Marine insurance company or through a agent who will utilize a policy backed by investment bankers in one of the insurance markets. The proprietor ‘s claims record and the claimed value of the vas are two of import lending factors in finding the degree of the H & A ; M insurance. As the cargo market and the age and status of the vas fluctuate, so will besides the value of the ship vary. The last tierce of the insurance costs goes into P & A ; I insurance. This is the liability insurance, which provides screen against 3rd party liabilities such as hurt or decease of crewmembers, riders or 3rd parties, larceny or harm to cargo, pollution etc. This 3rd party insurance covers affairs that ca n’t be cover in the unfastened insurance market.

In add-on to this there are some voluntary insurances that may be taken out to cover against war hazard, work stoppages and loss of net incomes.

Harmonizing to Stopford ( 2009 ) there are 13 P & A ; I clubs in the universe today. Two of which are located in Norway, Gard and Skuld. The nines are members of the International Group of P & A ; I clubs ( IGP & A ; I ) , and supply liability screen for more than 90 % of the universe ‘s ocean-going tunnage. Even though they are members of IGP & A ; I, they are all independent, common and non-profit insurance societies, which settle 3rd party claims for their members. It is the members that control the nines, either through a board or a commission that is elected from the rank. In add-on to supply coverage against 3rd party liabilities as mentioned above, the P & A ; I clubs besides provide services on claims, they provide advice during any dialogues or legal issue, and they are really frequently playing a prima function in the direction of casualties. Harmonizing to Stopford ( 2009 ) there are 13 P & A ; I ; nines in the universe today. Two of which are located in Norway, Gard and Skuld. The nines are members of the International Group of P & A ; I ; nines ( IGP & A ; I ; ) , and supply liability screen for more than 90 % of the universe ‘s ocean-going tunnage. Even though they are members of IGP & A ; I ; , they are all independent, common and non-profit insurance societies, which settle 3rd party claims for their members. It is the members that control the nines, either through a board or a commission that is elected from the rank. In add-on to supply coverage against 3rd party liabilities as mentioned above, the P & A ; I ; nines besides provide services on claims, they provide advice during any dialogues or legal issue, and they are really frequently playing a prima function in the direction of casualties.

One of Solstad Offshore ‘s newer CSV-vessels, the Normand Seven, have the H & A ; M insurance at the Norse Hull Club and the P & A ; I insurance at Gard. There ‘s no public information on how the remainder of the fleet is insured. We hence make the premise that the insurance of the Normand Seven is representative for the full fleet.