Dry Bulk Measurements & Other Challenges Facing the Marine Industry

Prepared by Jorge PecciPresident and CEOSafeWaters Underwriting Managers

Jorge PecciPresident and CEO

…is a proven and motivated insurance executive with over 20 years of

domestic and international expertise in building a profitable book of commercial lines businesses.

Jose HarfuchSenior Vice President

…is a well-known marine executive with over 16 years of insurance experience.

Specialities include Marine underwriting, building effective teams and developing,

growing and improving portfolios.

The SafeWaters Team Cargo Experts

A bulk carrier is a cargo-carrying ship employed to carry large amounts of unpacked cargo..

Dry Bulk OperationsOver 15-17% of our merchant vessels are comprised of these impressive bulk carriers.

As of 1999, the International Convention for the Safety of Life at Sea defines a bulk carrier as a ship constructed with a single deck, top side tanks and hopper side tanks in cargo spaces and intended to primarily carry dry cargo in bulk; an ore carrier; or a combination carrier. A bulk carrier is a general purpose cargo-carrying ship which is employed to carry enormous amounts of bulk unpackaged cargo in its single-deck structure.

There are 2 Types of Bulk Cargoes:

1. Liquid bulk cargo transported by chemical tankers, crude oil carriers, product tankers, petroleum tankers.

2. Dry bulk carriers carrying ore, grains, raw materials, coal, steel, etc.

Special: A special type of carrier called OBO carriers, which carry all three (Ore-Bulk-Oil) in combinations in a single voyage.

Measurement of Dry Bulk Cargoes on Ships

OverviewIt is widely accepted that some loss is unavoidable during the transportation of bulk cargo. However, when the shortage exceeds a percentage regarded as customary in that trade, the carrier is often responsible.

The cause of shortage? It’s nearly impossible to precisely determine the weight of large quantities afloat or ashore.

Method 2

Cargo is weighed on the basis of draught surveys.

Weighing Dry Bulk Cargo on a Ship

Method 1

Cargo is weighed on the basis of “FREE SPACE” in a compartment.

+ /- .05%Draught surveys are generally accepted as being accurate.

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Dry Bulk / Quantity Measurements and Other Challenges Facing the Marine Industry Prepared by Jorge Pecci