Low recycling prices for vintage tonnage are expected to hinder any increase in the number of units sold over the next few weeks. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “we are trying to establish from where a concession will appear, the Sellers or the Buyers! On the outside we do not envisage many units to come for recycling for the next month at least and therefore it would need the actual recyclers to increase their rates to tempt any Owner contemplating a recycling sale. However, financial restraints and weakening currencies against the U.S. Dollar continue to put cause for concern amongst the Indian sub-continent recycling community and ensures no over-inflated levels at this current time. There are rumours abound of Letters of Credit unable to be opened for larger LDT tonnage, particularly from Bangladesh, which further creates difficulties when and if a vessel of this ilk comes for sale. We are now witnessing actual sales of tonnage for recycling fall to their lowest levels in a decade and certainly we cannot predict a massive change any time soon during the summer months and heading into the final quarter of 2022”, the shipbroker said.

 

Source: Clarkson Platou (Hellas) ltd

In a separate note this week, Allied Shipbroking added that “the ship recycling market appears in a rather “weird” state as of late. Activity has slowed down significantly, that is partly though explained from seasonality factors, but scrap price levels continue experiencing considerable pressure as well, for a period now.

Source: Allied Shipbroking

In the separate demo destinations and more specifically that of Bangladesh, things are losing momentum, given the currency depreciation and the recent shortage of US Dollar reserves, altering the Letter of Credit availability and as such making the overall local market unable to compete for larger ldt units. In Pakistan, the scene indicated many similarities, facing the same type of difficulties while also at the same time being the least competitive destination for some time now within the Indian Sub-Continent. The Indian market, despite the excess volatility in local steel prices, when compared with the other main Indian Sub-Continent Recyclers, may well have prevailed as the most stable market in the near term (at least)”.

Meanwhile, GMS , the world’s leading cash buyer of ships said in its weekly report that “as the ship recycling sector continues to try and adjust to these new lower realities on price, in addition to adhering to new regulations on L/C limits amidst a dire shortage of U.S. Dollars foreign exchange / reserves in both Pakistan and Bangladesh, the industry is certainly going through an uncertain period. This week, the Bangladeshi government introduced new limits to cap the outgoing volume of U.S. Dollars for ‘essential’ purchases only – raising question marks about higher priced vessels for recycling purchases in the foreseeable future. As such, the government announced that any L/C over USD 5 million has to be approved by the Central State Bank for opening, with the Bangladeshi Taka struggling to such a worrying extent of late.

Source: GMS,Inc

Unfortunately, the currency situation is no better elsewhere as we are witnessing fresh historical lows by the day in all of the major recycling destinations on their respective currencies against the U.S. Dollar, and there have been elevated fears across these locations that international trade may eventually start driving domestic inflation up as the U.S. Dollar continues to strengthen rapidly. Keeping things in check is the fact there are very few new units to work on, now that the tanker chartering market is firming further and this may give the recycling markets, some time to settle and stabilize before fresh units are proposed to Recyclers once again come Q4. While Pakistan has registered a massive drop in local steel plate prices this week, India remains the most stable of the sub-continent markets despite the extreme volatility on Indian plate prices seen on a near daily basis and similar worrying currency depreciation is leaving Alang Recyclers confused and nervous on any firm offers moving forward. On the West End, Turkish plates take another tumble this week as even the currency – like all the major recycling locations – continues its steady slow descent to oblivion”, GMS concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide


SEEMP Part III represents the International Maritime Organization’s decarbonisation ambitions. The regulation requires ships of at least 5,000 GT and which trade internationally, except passenger ships, to have a verified Ship Energy Efficiency Management Plan onboard before 31 December 2022 to reduce carbon emissions – this must achieve at least a C band. The assessment will take place in the calendar year after the ship-specific SEEMP Part III plan is produced.

 

SEEMP Part III entails measures to improve energy efficiency to attain the required carbon intensity indicator (CII) and the implementation regime, the personnel designated to oversee the process, and contingency measures to overcome impediments. For example, a ship could propose using biofuels as bunkers to reduce emissions, but to prevent engine damage, trials should be conducted beforehand.

Speaking during a recent webinar, LR’s Lead Regulatory Specialist, Abhijit Aul said: “The sooner you act, the better it is. The next few years are going to be crucial going forward.”

Aul reminded the ship owners and operators that with SEEMP Part III, they must devise a concrete plan for reducing carbon emissions. This would be followed by self-evaluation and a constant review of whether the targets are on track and will be met in the prescribed timeline.

Aul said it is inevitable that some ships will not achieve the minimum CII requirements and end up banded D or E. Such ships will have their SEEMP Part III reviewed to include a corrective plan to achieve the required CII. Remedial actions are needed to achieve at least a C rating for the calendar year following the adoption of the corrective plan.

On the various proposals for correction factors, Aul said, “If they didn’t make it this time, it doesn’t mean they have been disregarded. For many of them, it just means that the evidence they provided at the time wasn’t sufficient or there wasn’t sufficient time to consider these correction factors in detail. For a number of these correction factors or voyage adjustments, there is a very strong appetite to push the case to gather more evidence to submit to MEPC. It could take a year, it could take years, but we expect to see a number of discussions.”

LR’s Regional Advisory Services Manager, Douglas Raitt, said that LR can help shipowners and operators by drawing up the three-year implementation plan to achieve the company’s targeted CII, review and update SEEMP Part I and II and provide vessel-specific analysis for improving operational CII.

Besides strategising for reduced carbon emissions, Raitt said that shipowners and operators should also take the resulting future capital and operating expenditure into consideration, with regards to chosen energy efficiency measures, to remain in compliance.

He elaborated: “You have to think, ‘what speed reduction is required to achieve a 5, 10, 15% improvement in the annual efficiency ratio rating?’ It allows the operator to project improvements over a number of years, understand when certain improvements need to be implemented, potentially even budget the implications of capex and opex decisions that need to be made on a variety of ships over the next few years to maintain compliance.
“Once you understand the percentage reductions that you require to maintain compliance with the CII requirements and target, then you can map out what energy efficiency to achieve and more importantly, phase in over the next few years to remain in compliance.”
These steps can be operational in nature, such as speed reductions, frequent hull cleaning, propeller polishing, all the way to the application of energy-efficient technologies which can allow for a certain percentage of improvement.

Shipowners and operators have to reduce the CII by at least 2% annually to remain in compliance. Raitt encourages “robust” discussions with energy saving device manufacturers to meet the target, more so for shipowners and operators who want to achieve an A or B banding.

Raitt said: “To get SEEMP going now, articulate what that strategy might be, get a handle on realistic percentages in improvements. Not all ship types are the same. Not all trading patterns are the same so there’s a level of detail that needs to be understood by owners and operators.”
Source: Lloyd’s Register


Unions have secured an important victory in the campaign for seafarers’ safety in early July as a Dutch court has ruled that ship managers, ship owners and charterers must honor a clause that prevents seafarers from being assigned dangerous lashing work where professional dock workers are available.

In 2020, the ITF, FNV Havens and Nautilus NL took the case against Marlow Cyprus, Marlow Netherlands and Expert Shipping over their refusal to adhere to the Non-Seafarers’ Work Clause to court in the Netherlands. The companies signed up to the agreement in 2018 and the clause came into force two years later.

The ruling from the Rotterdam District Court means that the companies who employ seafarers on shipowners’ behalf, must ensure that cargo handling must be performed by trained local dock workers where possible, and not given to seafarers as an additional responsibility.

The decision means greater safety for seafarers and also secures jobs for dockers.

The court emphasized the importance of the proper implementation of agreements reached through social dialogue and the binding nature of such agreements. It also reaffirmed the ‘Albany exemption’ which provides that collective bargaining agreements are exempt from certain requirements of EU competition law.

“The court makes clear that the parties are bound to the terms of the agreement. Given the weight attached to social dialogue within the European Union, and in the principle statements of companies – it is of paramount importance that they follow through. That starts with employers doing what they say they will,” said ITF President and Dockers’ Section Chair, Paddy Crumlin.

“Employers like those we’ve won this important case against, have been reminded this week by the court about what it actually means to be a social partner. It means doing what you say you’ll do. It means keeping your word.

“Seafarers, dockers and our unions have upheld our parts of the agreement, which has delivered these companies stable profits. This case is a big step forward in our campaign, but we won’t be happy until we get all charterers to respect the clause.

“Now, it is time for these employers, particularly short sea shipping charterers, to return to true social dialogue and restore good faith with unions, this must include working with shipowners to implement the Non-Seafarers’ Work Clause.

“Our industry has important issues to tackle together, and we will continue to be part of the IBF process that has improved wages and working conditions for seafarers for almost 20 years.”

ITF Dockers’ Section vice-chair Niek Stam, who is also the leader of Dutch dockers’ union FNV Havens, said the ruling was both a victory for seafarers’ safety and for dockers’ jobs.

“Those who don’t fight will never win. This is the only logical outcome of the lawsuit. Otherwise, a signature would no longer be worth anything. A deal is a deal,” said Stam.

“Lashing can be extremely unsafe for seafarers, who are often untrained in port operations, such as the dangers of moving cranes. Automated terminals and supply chain pressures have further increased these dangers to ships’ crew.”

ETF General Secretary Livia Spera said, “This ruling makes clear to shipowners and others that it is a legal requirement to honor the terms of a collective bargaining agreement.”

“This is the result of years of hard work from the union side and this verdict represents a victory for both seafarers and dockers. It is about the safety of our transport workers, it is about the obligation of the charterers to use the specialized workforce of dockers, and to not exploit seafarers’ safety in this way.”

Source: https://maritimefairtrade.org/dutch-court-sides-with-seafarer-unions-on-container-lashing-safety/


The Australian Maritime Safety Authority (AMSA) July 23 banned the Liberian-flagged oil tanker AG Neptune from Australian ports for six months. AMSA inspected the ship in the Port of Gladstone, in central Queensland, on 17 June 2022 after receiving a complaint regarding the underpayment of seafarers and welfare issues.

During the inspection, AMSA found evidence the employment agreement with 21 seafarers on board the ship had not been met and the crew members were collectively owed approximately AUD $123,000.

AMSA found evidence the food and drinking water were not of appropriate quality, quantity and nutritional value for seafarers. It is also understood a seafarer was not provided with adequate medical care after being injured onboard.

As a result, AMSA detained the ship for multiple breaches of the Maritime Labor Convention (MLC) and the operator has been directed to pay the outstanding wages and address the deficiencies.

AMSA’s Executive Director of Operations Michael Drake said the seafarers were repeatedly not paid at regular intervals and two crew members had expired Seafarer Employment Agreements.

“Australia has zero tolerance for the underpayment of crew. This type of behavior is unethical and in contravention to the MLC. The international conventions that protect seafarers’ rights are very clear,” Drake said.

“Ships visiting Australian ports are on notice that if we find deliberate underpaying of crew they can expect penalties.

“AMSA takes the MLC seriously and actively ensures seafarers’ health and well-being is upheld on all ships in Australia.”

Source: https://maritimefairtrade.org/australia-bans-oil-tanker-for-underpaying-wages-insufficient-food-and-water-onboard/


ITF Seafarers and Dockers Sections were vocal in their support for ver.di dock workers when unions met in London in early July. Maritime unions are mobilizing support for German ITF affiliate ver.di as the union battles port companies for an inflation-proof pay deal covering 12,000 dock workers.

Union leaders gathered in London expressed their solidarity with Germany’s dockers following recent strike action. ver.di is pushing for an annual, automatic inflation adjustment to be inserted into a renewed collective agreement with 58 ports and terminals.

“Rising prices for essential living expenses such as energy and food have become an unsustainable burden on German workers, especially for those lower paid workers,” said head of ver.di’s Maritime Section, Maya Schwiegershausen-Güth.

She said the employers, represented by the Central Association of German Seaport Companies (ZDS), have so far rejected the principle of inflation protection in talks with the union.

“These port companies plan to leave their staff alone to deal with the consequences of rising prices. They are willing to see dockers’ wages go backwards, eaten away by inflation. We cannot accept this, especially after all that dock workers have done for the employers and the common good.”

“Throughout the pandemic, dock workers have shown extraordinary commitment to their employers and to the German economy. For more than two years they have put up with family-impacting flexible work schedules, longer working hours, and rising workloads. Under all this pressure, dock workers have sacrificed,” said Schwiegershausen-Güth.

Now it was time for employers to recognize these efforts through a fair pay agreement, she said. “All of the employers and politicians who heaped praise on key workers during the pandemic should now be vocal in supporting our claim for fair inflation protection.”

“Appreciation without renumeration is meaningless – nice words will not pay the rent,” she added.

Inflation protection: Industry norm

ITF Dockers’ Section vice-chair Niek Stam said ITF and ETF dockers’ unions representing more than 500,000 workers were united in their support for ver.di as it sought an inflation-proof pay deal.

“What the German dockers are pushing for is not unreasonable, nor is it uncommon in our industry. All workers have a right to protect the wages that they bargain for from inflation,”

Stam, who is also leader of Dutch dockers’ union FNV Havens, said automatic inflation adjustment mechanisms had existed for decades in competitive ports’ agreements, such as those in Rotterdam and Antwerp.

“The shipping, port and gas companies are making record profits, pushing up prices for everyone else. They are the ones causing much of this inflation, not the workers. So why should the workers be punished for it?” he asked.

“Dockers move the world – we do not go backwards. We stand with our ver.di sisters and brothers.”

Source: https://maritimefairtrade.org/german-dock-workers-strike-for-inflation-protection/


The ITF Seafarers’ Trust has made a US$$55,000 emergency grant to enable local unions to help the families of those who have died or are in a serious condition, following a release of noxious chlorine gas at the port of Aqaba, Jordan in June.

13 people were reported killed and hundreds injured after a tank containing the toxic gas ruptured at the port June 27. The 25-tonne tank was being loaded by a dockside crane on to the cargo vessel FOREST 6 (IMO:9947354), as a cable snapped sending it crashing down and releasing clouds of the yellow gas.

When inhaled, chlorine turns to hydrochloric acid causing severe internal burns. Local hospitals have been overwhelmed as they deal with more than 250 people affected by the fumes, with at least 38 people in critical condition in Aqaba intensive care units.

Of the 13 people who died in the incident, nine were port workers – all union members. The other four killed are believed to be Chinese seafarers, whose bodies have already been repatriated.

Union support for affected families

ITF Seafarers’ Trust trustees approved the emergency grant to assist families and colleagues of those killed and injured at the port. The affected workers’ union, the General Union of Port Workers of Jordan, will work with those most in need to distribute the Trust’s funds. The union is well known to trustees, having been one of the core instigators of the Trust’s Arab World OSH project.

Chair of the ITF Seafarers’ Trust, David Heindel, who is also the chair of the ITF Seafarers’ Section, said he fully supported payment of the emergency grant.

“The thoughts of the global maritime community are with all those in Aqaba and their loved ones. No seafarer, docker, indeed –any worker–, should lose their life or health, just because they went to work that day. We hope that the Trust’s contribution can alleviate at least one worry from the shoulders of the workers and families affected,” he said.

Dockers call for urgent action

“We commend the swift actions of emergency responders at the port, but this accident should never have happened in the first place,” said Paddy Crumlin, ITF President and Chair of the ITF Dockers’ Section. “It throws into sharp relief the safety regime at this port and raises tough questions about how dangerous loads are typically handled in the region.”

“OSH is a fundamental workers’ right,” said Crumlin. “Tragedies like this have a massive impact, not just on the families of the victims, but on the wider workforce and port community.”

Crumlin said the ITF called for an urgent meeting with Aqaba port authorities to discuss how the incident will be investigated, to demand that a comprehensive and transparent inquiry be carried out, and to insist that changes are put in place to prevent further unnecessary deaths.

The ITF supports the more than 2,300 Jordanian port workers who are striking for better safety standards and the immediate replacement of dangerously worn-out safety equipment.

Wake-up call for Arab ports

Low, or unmet, occupational safety and health (OSH) standards in the region have concerned unions for some years, said Head of the ITF Seafarers’ Trust, Katie Higginbottom.

“It is a bitter irony that this tragedy should take place in Aqaba just we are rolling out a program to increase workers’ participation in occupational safety and health and raise awareness of their right to a safe workplace,” she said.

“We want to see all ports in Arab world safe for seafarers and for dockers, and that requires investment in the appropriate equipment for the job and systemic cultural change. That’s why we’ve funded digital resources in Arabic to educate port workers on the hazards, risks and necessary controls that need to be in place especially when handling dangerous cargo.

“I hope ports in the region take this as a wake-up call and learn lessons from this terrible event,” said Higginbottom.

Source: https://maritimefairtrade.org/global-unions-rally-behind-victims-of-port-of-aqaba-poison-gas-horror/


The Baltic Exchange’s main sea freight index fell to a nearly two-week low on Tuesday as rates across its vessel segments declined.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 53 points, or 2.5%, to 2,061 points, the lowest since July 14.

The capesize index fell for the second straight session, losing 141 points, or 5.4%, to 2,455 points, a near two-week low.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $1,167 at $20,359.

“The biggest headache moving forward will likely come from the faltering iron ore trade, with China’s latest move in establishing a giant mineral resource group to give it larger control over global iron ore pricing,” said George Lazaridis, head of research and valuations for Allied Shipping Research, about capesize rates in a weekly note.

The creation of the China Mineral Resources Group, Lazaridis added, “is poised to create a further loss in bargaining power for global traders as well as those operating within those supply chains.”

The panamax index was down 12 points, or 0.57%, at 2,088 points, snapping a five-session winning streak.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased by $110 to $18,790.

Meanwhile, the first shipments of Ukrainian grain could leave Black Sea ports within days under a U.N.-brokered deal to tackle a global food crisis that has worsened since Russia invaded its neighbor, the United Nations and Ukraine said on Monday.

The supramax index fell by 8 points to 2,071 points, its lowest in nearly a week.
Source: Reuters (Reporting by Deep Vakil in Bengaluru; Editing by Shinjini Ganguli)


The Council of the EU said today that, in an effort to increase EU security of energy supply, member states have reached a political agreement on a voluntary reduction of natural gas demand by 15% this winter. The Council regulation also foresees the possibility to trigger a “Union alert” on security of supply, in which case the gas demand reduction would become mandatory.

“The purpose of the gas demand reduction is to make savings ahead of winter in order to prepare for possible disruptions of gas supplies from Russia that is continuously using energy supplies as a weapon,” says the Council.

As the EU seeks to wean itself from dependency on Russian natural gas, U.S. LNG exporters have been major beneficiaries. Even if the EU succeeds in meeting the goal of a 15% reduction in demand, that is not likely to change.

The U.S. Energy Information Administration (EIA) says that United States became the world’s largest liquefied natural gas (LNG) exporter during the first half of 2022. Most U.S. LNG exports went to the EU and the U.K. during the first five months of this year, accounting for 71%, or 8.2 billion cubic feet per day (Bcf/d), of the total U.S. LNG exports. The U.S. provided 47% of the 14.8 Bcf/d of Europe’s total LNG imports, followed by Qatar at 15%, Russia at 14%, and four African countries combined at 17%.

That 14% figure for Russia is more significant than it might appear, because Russia accounts for some 40% of German natural gas consumption. Germany’s ability to substitute LNG imports for that Russian gas is hampered by the fact that that it currently has no LNG import terminals. As we reported earlier, since Russia’s invasion of Ukraine, Germany has been ramping up its plans to deploy floating LNG import terminals (FSRUs). Now, reports S&P Global, four are planned along with two permanent onshore sites, with the FSRUs able to be deployed much more quickly than the onshore facilities. Germany’s economy ministry is hopeful it can begin operations at two FSRUs — one at Wilhelmshaven and one at Brunsbuttel — before the end of 2022

Will U.S. LNG supply be available to meet the demands of those new terminals?

Compared with the second half of 2021, reports EIA, U.S. LNG exports increased by 12% in the first half of 2022, averaging 11.2 billion cubic feet per day (Bcf/d). According to EIA estimates, installed U.S. LNG export capacity has expanded by 1.9 Bcf/d nominal (2.1 Bcf/d peak) since November 2021. The capacity additions included a sixth train at the Sabine Pass LNG, 18 new mid-scale liquefaction trains at the Calcasieu Pass LNG, and increased LNG production capacity at Sabine Pass and Corpus Christi LNG facilities. As of July 2022, EIA estimates that U.S. LNG liquefaction capacity averaged 11.4 Bcf/d, with a shorter-term peak capacity of 13.9 Bcf/d.

U.S. LNG exports
Source: EIA

International natural gas and LNG prices hit record highs in the last quarter of 2021 and first half of 2022. Prices at the Title Transfer Facility (TTF) in the Netherlands have been trading at record highs since October 2021. TTF averaged $30.94 per million British thermal units (MMBtu) during the first half of 2022. LNG spot prices in Asia have also been high, averaging $29.50/MMBtu during the same period.

In June, the United States exported 11% less LNG than the 11.4 Bcf/d average exports during the first five months of 2022, mainly as a result of an unplanned outage at the Freeport LNG export facility. Freeport LNG is expected to resume partial liquefaction operations in early October 2022.

Utilization of the peak capacity at the seven U.S. LNG export facilities averaged 87% during the first half of 2022, mainly before the Freeport LNG outage, which is similar to the utilization on average during 2021.

Source: https://www.marinelog.com/legal-safety/shipping/markets/can-u-s-lng-exports-meet-european-demand/


At least 17 individuals lost their lives after a boat believed to be having dozens of migrants from Haiti capsized off the Bahamas while on the way to Florida on Sunday.

A 30-foot boat had almost 60 people. It sank in the waters off the New Providence Island at about 1 a.m. local time, Bahamian officials mentioned during a news briefing.

Relevant authorities detained two Bahamians who were thrown from the boat. They face manslaughter and human smuggling charges, officials reported. They were two of the 25 people that the rescuers discovered were latching onto the sinking boat.

Others on the boat were believed to be Haitian, said Captain Shonedel Pinder, the deputy commander of the Royal Bahamas Defence Force. About 15 continued to be missing as reported on Sunday.

Of the 17 people who died, one was male while 16 were female, reported Aubynette Rolle, the MD of the Bahamas’ Public Hospitals Authority. There was a child around the age of 4 or 5 years.

A rise in the number of Haitian migrants over the recent years has attempted to travel by sea to Florida and Puerto Rico. Immigration lawyers and researchers have to say that the migrants could be fleeing the ongoing economic and political turmoil in Haiti.

A year after the assassination of Haitian President Jovenel Moïse in July 2021, gang violence worsened. Haiti has gone into a freefall that has witnessed the fall of the economy.

Trials to form a coalition government have faltered. Similarly, efforts to hold general elections have also stalled. The ongoing turmoil has led a growing number of individuals to flee Haiti, which comprises more than 11 million in the search for a safer and better life.

Several sinking cases involving migrants have taken place in the Caribbean waters this year, including one in May 2022, in which 11 individuals were declared dead and 38 were rescued from Puerto Rico.

One more incident in January 2022 saw a man being rescued and another being confirmed dead after a boat that had 40 migrants reportedly sank off Florida. The missing were never found.

Governments in the region, including the US, have reported a rise in the number of Haitians detained when attempting to enter other nations.

References: France24, DailyTimes


The U.S. Navy sees its future fleet comprised of more than 350 manned ships and about 150 unmanned ships hoping technology means lower operating costs as it prepares to counter a growing Chinese fleet, according to a Navy report released Tuesday.

The plan for the 2040s and beyond underscored “the need to address long-term competition with China and sustain military advantage against Russia”. It forecasts fleet numbers up slightly from a 2021 Navy long-range shipbuilding plan which had a range of 321 to 372 manned ships and 77 to 140 large unmanned vessels.

Huntington Ingalls Industries Inc and General Dynamics Corp are the largest shipbuilders in the United States with other weapons makers like Boeing Co working on unmanned ships programs.

Today the Navy has 298 ships in its “battle force” which ignores scores of resupply and logistics ships.

The Navy’s proposed fiscal year 2023 budget requested $27.9 billion in shipbuilding funding for eight new ships, including two Virginia class attack submarines, two Arleigh Burke destroyers, and one Constellation frigate.

The U.S. Congress is working to add ships to the Navy’s fleet.

Source: https://www.marinelink.com/news/us-navy-boost-aspirations-unmanned-fleet-498306


Company DETAILS

SHIP IP LTD
VAT:BG 202572176
Rakovski STR.145
Sofia,
Bulgaria
Phone ( +359) 24929284
E-mail: sales(at)shipip.com

ISO 9001:2015 CERTIFIED