On June 3, 2022, the European Union Council adopted a sixth package of sanctions against Russia, which will phase-out the import of Russian oil and petroleum products over the next six to eight months. This particular round of sanctions will
Ship Law Log
Comment and analysis by Reed Smith lawyers on the latest developments in the shipping industry
Ship Law Log, published by Reed Smith LLP, focuses on legal issues related to maritime and shipping law. The blog covers topics such as ship finance, including sale-and-leaseback arrangements and lending structures, regulatory developments affecting port fees and tariffs, ownership and control implications for vessels, charterparty disputes and interpretations, compliance with international trade measures, and operational risks in shipping. It also addresses the impact of geopolitical actions on maritime commerce, legal challenges in ship repossession, and the allocation of costs and liabilities in shipping contracts. The blog provides analysis relevant to shipowners, charterers, financiers, and legal practitioners involved in maritime transport and shipping finance.
Latest from Ship Law Log - Page 6
Solving the ‘possession’ problem – Law Commission publishes draft legislation for the legal recognition of electronic trade documents
In our October 2021 blog “Possession as we (don’t) know it!”, we discussed the existing position under English law in respect of electronic trade documents and the scope for reform in light of the Law Commission’s consultation paper and…
COVID related off-hire decisions from the LMAA
The COVID pandemic has impacted nearly every aspect of global commerce, and the shipping industry is no exception having experienced severe disruption in many different ways.
Over the past two years, most maritime lawyers will have received multiple enquiries in…
To what are “subjects” subject?
In DHL Project & Chartering Ltd v. Gemini Ocean Shipping Co Ltd [2022] EWHC 181 (Comm), DHL (“Charterers”) succeeded in an application against Gemini (“Owners”) to set aside an arbitration award pursuant to section 67 of the Arbitration Act 1996…
Expecting the unexpected – BIMCO releases force majeure clause
By Nick Austin & Laura Hyne
In light of the unprecedented challenges faced by the shipping industry in recent years, BIMCO has recently released its long-awaited model force majeure clause for inclusion in charterparties and other shipping contracts.
Reed Smith first reported on the clause in…
EEXI and CII – shipping’s next environmental challenge
Introduction
There cannot be many people left in the shipping sector unaware that the International Maritime Organisation (IMO) has set a target of reducing annual greenhouse gas emissions in shipping by at least 40% by 2030 and pursuing a 70%…
Exemption clauses subject to contractual interpretation
Exemption clauses, including those purporting to exclude or limit liability for deliberate and repudiatory breaches, are to be construed by reference to the normal principles of contractual construction. There is no presumption in English law that exemption clauses do not…
Possession as we (don’t) know it!
By Nick Austin & Athina Douni
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. The change could finally unlock the full potential of digital trade documents, while at the same time keeping…
Executive Order 14036 encourages competition compliance for shipping companies
President Joe Biden has issued Executive Order 14036 “Promoting Competition in the American Economy” (“the EO”) which was signed on 9 July 2021. The EO has the goal to promote competition within the U.S. economy to lower prices for families,…
New initiatives concerning sustainable transportation is published by the European Commission
Last month, the European Commission published two new proposals for EU regulations to encourage the use of sustainable fuels in aviation and shipping – namely the ReFuelEU Aviation and FuelEU Maritime initiatives, respectively. Both proposals are subject to public feedback…