Well, as New Years Eve approaches many of us will be taking the opportunity to look back over the last year and review our plans for the future. Despite some worrying economic times we hope that it has been a good period for all of our partners and customers and that 2009 brings you and your business a host of new opportunities.

Let us know some of the challenges you have faced this year. 

What are your current marine survey bugbears? 

If there is something we can do to improve the service you receive, we want to know.

Till then, 

Best wishes for 2009 and a profitable New Year

International Marine Survey

 
 

Thanks to a ruling by the Supreme Court, there has been some great news for the Indian ship-breaking industry. The recent decision means that Indian ship breaking companies can now claim heavy deductions from their taxable income and it would seem that it's all down to how one interprets the small print and the question of whether 'ship-breaking is a production process or recycling'.

According to the Business Standard (India), the legal tussle related to whether the ship-breaking industry produced anything new and distinct, one of the conditions for claiming a tax deduction. In this battle between the Income Tax Department and a large ship breaking company, the prize to be won was up to 20 per cent of profits and gains.

The Income-tax Department rejected the claim  for deductions, stating that ship-breaking activity does not produce new article. The Supreme Court of India however, is of the view that production has much broader connotations and includes all byproducts, intermediate products and residual products that emerge in the course of manufacturing, and thus as well as dealing with the production of new article it should also encapsulate the production of a very desirable byproduct, scrap.

 
 

On Saturday 11th October 2008 gale force winds battered Gibraltar's Europa point. During the early hours of the morning the MV FEDRA realized she was dragging her anchor. Unable to start her own engines three tugs were dispatched to the Liberian registered vessel's assistance but were unable to prevent the ship from running aground. Fortunately Spanish and Gibraltarian authorities were able to rescue all 31, however shortly after the last crew member was hoisted to safety the ship broke in two, reportedly spilling around half of its remaining oil into the surrounding seas. 

Expert photographer David Parody was on hand to capture the scene.

BONUS: Play the entire slideshow to view David's photography of the MV Flame sinking in the Gibraltar Straits early this year.

Photo © DM Parody

 
 

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