We publish Newsletters, Circulars and Bulletins on general issues that impact the Chartering Market.
Where Taj Bengal, Kolkatta When Wednesday 13 November 2019 09.30 to 09.45 Welcome - Setting the Tone - Capt Uberoi - Regional Underwriter 09.45 to 10.15 Unsafe port - Myth or Reality - Gavin Ritchie - Global Underwriting Director 10.15 to 10.30 Insurance…Read More »
Background Not for 175 years, since the first steam powered ships started to appear, taking over from the very green but highly unreliable wind power, has there been such a step change in the shipping industry and we have less than 100 days to go before it starts. This bulletin provides background on the issues from the perspective of a…Read More »
A recent London arbitration award (17/19) provides useful guidance in two important issues pertaining to bunkers on redelivery of a vessel under time charter. First the Tribunal considered the meaning of the word “about “ in connection with the quantity of bunkers on redelivery. The charterparty provided that the vessel was to be redelivered with “about the same IFO…Read More »
Our local correspondent for the Dominican Republic and Haiti E&M International Consulting have advised that there are ongoing protests in Haiti. In relation to the ports of Cap Haitian and Port-Au-Prince, both remain operational, but delays are expected because not all port employees are able to access the port and cargo is not being moved freely from the port’s premises.…Read More »
On 4 September the US Department of Treasury’s Office of Foreign Assets Control (“OFAC”) issued guidance to the shipping industry on the sanctions regimes applicable to the carriage of Iranian oil and petrochemical products, bunkering of vessels destined for Iran and also an update on vessels that are deemed to be controlled by Iranian interests. The Grace 1 case at…Read More »
On 5 August 2019 President Trump issued Executive Order 13884 which further expands the scope of US Sanctions against the regime in Venezuela. This has a direct impact on US Companies and Citizens but assets of companies trading with the Venezuelan government are potentially at risk from sanctions; considerable care is recommended if you are contemplating trading with Venezuelan companies…Read More »
On 1 August 2019 India enacted the “Sea Cargo Manifest and Transhipment (Amendment) Regulations 2019”, originally planned for 2018, we understand they have now become effective after an initial postponement. The legislation comes off the back of existing customs legislation and its use is designed to be fully online after registration on the customs system for arriving, departing and also…Read More »
Hull fouling disputes are common place. In 2013 Bimco first developed a clause to transfer responsibility for cleaning onto a charterer in certain situations. It has now published an updated version. The 2019 Clause has been revised to address feedback on use of the clause and set out more clearly the circumstances where the responsibility for hull cleaning passes from…Read More »
Arbitration 13.19 Article A recently published arbitration decision [London Arbitration 13/19] sheds light on how a charterer may, by their conduct, be deemed to have accepted an otherwise invalid NOR. Owners chartered out the vessel on amended Norgrain 89 terms for the carriage of a soya meal and soya bean cargo from Myrtle Grove to Casablanca. The charter contained…Read More »
Given the number of queries being raised over war risks and the position in the Persian Gulf we have produced a Q&A that provides answers to the most frequent questions raised. What are the JWC Limits? What constitutes a high‐risk zone under most Hull War Insurance policies is set by the Joint War Committee (“JWC”). Located in London, the…Read More »
JWC Amendment to Listed Areas Circular to Assureds (no 001 2019) The Joint War Committee (JWC) of the IUA and the LMA have reviewed the summary of Listed Areas and an amendment has been made effective 17 May 2019. The full text of the current JWC Listed Areas Summary as at 17 May 2019 incorporating these changes is…Read More »
Charterers have successfully defended a claim by owners for USD 4,500,000 of hire following Eleni P’s seven month detention at the hands of Somali pirates. The Commercial Court rejected Owners’ Section 69 appeal against the arbitration award but disagreed with some the Tribunal’s reasoning. The Eleni P was taken by pirates in the Arabian Sea in 2009, following transit…Read More »
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