Marine Link
Thursday, March 28, 2024
SUBSCRIBE

Clause News

07 Feb 2024

UK Supreme Court Piracy Ruling Gives Guidance on War Risk Provisions in Charterparties

The tanker was released from pirate control in August 2011. (File photo: EUNAVFOR)

In a well-timed decision given the current situation in the Red Sea and Gulf of Aden, the UK Supreme Court recently handed down judgment in Herculito Maritime Ltd v Gunvor International BV [2024] UKSC 2, a decision that arose from seizure of a ship by Somali pirates.Key factsThe vessel MT Polar was chartered to carry a cargo of fuel oil from St Petersburg to Singapore. The most direct route would be via the Suez Canal and Gulf of Aden.The Gulf of Aden was within the “high risk area” for piracy when the charter was agreed.

04 Jan 2024

ClassNK Updates Its GHG Emissions Management Tool

© Yellow Boat / Adobe Stock

ClassNK has released new features for its GHG Emissions Management Tool, "ClassNK ZETA (Zero Emission Transition Accelerator)".ClassNK ZETA is a tool for visualizing GHG emissions and CII ratings of ships and is used for more than 5,000 ships. Based on data submitted to "ClassNK MRV Portal", a system for fuel consumption reporting in compliance with regulations such as IMO-DCS and EU-MRV, ClassNK ZETA provides current status and simulation for reducing GHG emissions from ships and supports response to various emission reduction requirements.

28 Dec 2023

Low Flashpoint Bunkers Identified in Indonesia

© TED / Adobe Stock

Singapore-based CTI-Maritec has found that seven samples from four different suppliers representing HSD and Bio Distillate grade deliveries in Indonesia have a flashpoint as low as 35°C.The samples were taken between December 10 and 19 2023.The company reminds that SOLAS Chapter II-2, Part B, Reg. 4. Clause 2.1.1 states: “The following limitations shall apply to the use of oil as fuel, except as otherwise permitted by this paragraph, no oil fuel with a flashpoint of less than…

19 Dec 2023

Shippers Mask Positions, Weigh Options Amid Red Sea Attacks

© Image'in / Adobe Stock

A number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.Attacks in recent days on ships in the major Red Sea shipping route have raised the spectre of another bout of disruption to international commerce following the upheaval of the COVID pandemic, and prompted a U.S.-led international force to patrol waters near Yemen.The Red Sea is linked to the Mediterranean by the Suez Canal…

11 Dec 2023

BIMCO Adopts Four ETS Clauses

© Grispb / Adobe Stock

BIMCO’s Documentary Committee has adopted a new Emission Trading Scheme Allowances Clause for BIMCO’s ship management agreement, SHIPMAN, and three ETS clauses for Voyage Charter Parties. The clauses aim to facilitate collaboration and provide clarity and certainty between parties as new regulations come into force, changing the way the industry operates to achieve compliance and cut emissions.On January 1, 2024, the EU Emissions Trading System (EU ETS) will be extended to cover CO2 emissions from ships of 5,000GT and above calling at EU ports, regardless of flag.

27 Nov 2023

Green Instruments Secures Shipyard Deal for Fire Detection Equipment

Source: Green Instruments

Danish company Green Instruments has entered a major agreement with Hudong-Zhonghua Shipbuilding for the delivery of equipment that detects oil mist and vapor on ships and triggers an alarm before fires can develop and endanger the crew, ship, equipment, and environment.The shipyard now installs Green Instruments’ equipment on every new vessel built.Oil mist is formed by oil droplets floating in the air and can ignite at low temperatures. Green Instruments’ oil mist detector is designed to register the slightest traces of oil mist and vapor from hydraulic oils and bunker fuel…

19 Oct 2023

BIMCO Approves Revised SYNACOMEX Grain Carter

Source: BIMCO

BIMCO’s Documentary Committee has approved a revised version of the Continent Grain Charter Party, SYNACOMEX, to reflect changes in the geopolitical landscape following events including the COVID-19 pandemic and the war in Ukraine. The revised charter party now includes BIMCO’s anti-corruption clause and updated versions of the war risks and sanctions clauses.The charter party is developed by joint copyright holders SYNACOMEX and Armateurs de France, the French Union for Grains and Seeds Trade and the French Shipowners’ Association.

15 Oct 2023

BIMCO Adopts New CII Clause

© moofushi / Adobe Stock

BIMCO has developed a new Carbon Intensity Indicator (CII) Clause for Voyage Charter Parties. The clause was adopted by BIMCO’s Documentary Committee on October 11 and is the latest addition to BIMCO’s portfolio of carbon clauses.“As the shipping industry works towards decarbonization, the need for new contracts and clauses increases. We are working constantly to ensure that BIMCO’s contracts and clauses are fit for purpose as the regulatory landscape changes,” says Nicholas Fell…

07 Sep 2023

Wrong Approach to Protect the Right Whale

© norrie39 / Adobe Stock

Pilot groups and port authorities have worked together to grow East Coast ports in a safe and environmentally responsible way. This growth has happened under strict safety and environmental regulations, including seasonal vessel speed regulations imposed by the National Oceanic and Atmospheric Administration (NOAA) to protect North Atlantic right whales (NARW). Last year, however, without sufficient scientific or economic impact data, NOAA proposed radical changes to these regulations.

25 Jul 2023

CII – Time for a Rethink?

Photo copyright AdobeStock/fotohansel

Without a radical new approach, BIMCO’s CII Operations Clause will remain a worthy but vain attempt to reconcile shipping’s environmental and commercial imperatives,Legal and contractual disputes lie ahead for shipping unless it finds a better compromise between owners and charterers to sustain the International Maritime Organization’s Carbon Intensity Index (CII).Entering into force on 1 January 2023, the CII relates primarily to the way in which ships are operated and the resulting CO2 emissions.

30 Mar 2023

Headwinds Hamper the Poseidon Principles

Copyright Bojan/AdobeStock

The Poseidon Principles provide a platform for financing shipping’s sustainable future, but the technical guidance underpinning the initiative remains under scrutiny.In July 2023, the International Maritime Organization’s Maritime Environment Protection Committee (MEPC) will consider revising the UN agency’s strategy on greenhouse gas emissions from ships. Moving on from a current target to reduce CO2 emissions from ships by at least 50% by 2050, based on 2008 levels,  influential administrations seek to accelerate towards net-zero or even zero by 2050.

22 Mar 2023

Headwinds for the Poseidon Principles

Copyright zwiebackesser/AdobeStock

The Poseidon Principles provide a platform for financing shipping’s sustainable future, but the technical guidance underpinning the initiative remains under scrutiny.In July 2023, the International Maritime Organization’s Maritime Environment Protection Committee (MEPC) will consider revising the UN agency’s strategy on greenhouse gas emissions from ships. Moving on from a current target to reduce CO2 emissions from ships by at least 50% by 2050, based on 2008 levels, influential…

29 Dec 2022

Ship Insurers to Cancel War Cover for Russia, Ukraine

© Evgeny / Adobe Stock

Ship insurers said they are cancelling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses.Reinsurers, who insure the insurers, typically renew their 12-month contracts with insurance clients on Jan. 1, giving them the first opportunity to scale back exposure since the war in Ukraine started, after being hit this year by losses related to the conflict and from Hurricane Ian in Florida.P&I (protection and indemnity) clubs American…

29 Dec 2022

How Will Japan Resolve Shipping Insurance for Russian LNG imports?

Credit: Evgeny
/AdobeStock

Japan, the world's top liquefied natural gas (LNG) importer, is facing its latest challenge in securing vital gas supplies from Russia after Western reinsurers said they would halt marine war insurance for ships travelling in Russian waters from Jan. 1.Having joined other G7 countries in imposing sweeping sanctions on Moscow for the invasion of Ukraine, Japan has been reducing its reliance on Russian oil and coal, but it continues to buy Russian LNG amid elevated prices in a tight…

28 Dec 2022

Putin Bans Exporting Russian Oil to Countries Implementing Price Caps

Credit: Kremlink -The Presidential Press and Information Office (File photo)

President Vladimir Putin on Tuesday delivered Russia's long-awaited response to a Western price cap, signing a decree that bans the supply of crude oil and oil products from Feb. 1 for five months to nations that abide by the cap. The Group of Seven major powers, the European Union and Australia agreed this month to a $60-per-barrel price cap on Russian seaborne crude oil effective from Dec. 5 over Moscow's "special military operation" in Ukraine. The cap is close to the current price for Russian oil…

19 Dec 2022

Shipbuilding: Can I Have A Refund?

© Dmitry / Adobe Stock

In Havila Kystruten AS v Abarca Compania de Seguros AS,¹ in which Watson Farley & Williams LLP represented the successful Norwegian shipowner, an English court has provided helpful and very detailed guidance on a number of issues relating to the parties’ rights to terminate shipbuilding contracts as well as the nature and scope of refund guarantees.BackgroundRefund guarantees are the lifeblood of shipbuilding, providing invaluable security to owners/buyers who must usually cash fund a significant proportion of the price of newbuildings during the construction phase (usually at least 40%)…

20 Jun 2022

Insurer Must Pay Spanish Claim in Galicia Oil Spill, EU Court Says

Photo: Stéphane M. Grueso (CC BY-SA 2.0)

Spain on Monday won backing from Europe's top court in its mutlimillion euros damage claim against The London Steam-Ship Owners Mutual Insurance Association for a massive oil spill on its northwestern coast two decades ago.The 2002 sinking of the Greek oil tanker Prestige, which was sailing to Gibraltar, released an estimated 63,000 tones of foul-smelling black fuel along the Galicia coast and forced the closure of Spain's richest fishing grounds.It led to a lengthy dispute between The London Steam-Ship Owners' Mutual Insurance Association Limited…

06 Jun 2022

The ZouZou: MII to the Rescue?

© Andrea Izzotti / Adobe Stock

A ship financier’s primary security is the mortgaged ship. If the ship becomes a total loss, the mortgage will provide no valuable security, leaving the financier to rely on its rights as assignee and loss payee (and occasionally as co-assured) under the shipowner’s marine insurance policies. However, the owner’s insurers may decline a claim, for example on grounds of breach of warranty or material non-disclosure, or because the loss is not covered by the policy, such as where the owner scuttles the mortgaged ship.

28 Feb 2022

Russian Warships Curb Tilts Turkey to West, Risks Russia's Ire

© andreysha74 / Adobe Stock

Turkey’s pledge to block some Russian warships from passing through its waters to the Black Sea during the Ukraine crisis could help repair its ties with NATO, even as it risks reprisals from Moscow.But a buildup of Russian ships waiting to make the journey will test Ankara’s resolve over the next few days and show how far it is willing to go in tilting its uniquely delicate diplomatic balance between east and west.Turkey changed its rhetoric to call Moscow’s assault on Ukraine…

25 Feb 2022

Swedish Tanker Firm Terntank Takes Delivery of 'Green' Tanker

©Terntank

Swedish tanker operator Terntank has said it has taken delivery of TERN FORS tanker.Designed by Terntank and Kongsberg Maritime CM AS, TERN FORS is the second of a series of two 15000 DWT chemical and product tankers, that combine LNG/LNG engine-powered engines, are 100% biofuel compatible, emit no greenhouse gases or carbon particulates during port operations and facilitate enhanced digital solutions for Just-in-Time management."We are thrilled to announce that TERN FORS has been delivered today from China Merchants Jinling Shipyard…

09 Feb 2022

Japan to Divert LNG to Europe Amid Russia-Ukraine Tensions

Japan will divert some liquefied natural gas (LNG) cargoes to Europe after requests from the United States and the European Union, the industry minister said on Wednesday, a step that aligns the country with the West as tensions flare with Russia.Concern has mounted over the possible disruption of supplies from Russia, Europe's biggest gas provider, following the buildup of Russian troops near Ukraine and heightened tensions between Moscow and the West.The extra shipments are expected to arrive next month, minister Koichi Hagiuda told reporters."We have decided to respond to requests from the United States and EU for sending LNG to Europe, where gas supply is tight," Hagiuda said after separately meeting with the U.S.

07 Feb 2022

Moose Boats Delivers Patrol Boat to Santa Cruz

(Photo: Moose Boats)

California shipbuilder Moose Boats said it has delivered a new patrol boat to the Santa Cruz Port District in Santa Cruz, Calif.Santa Cruz Port District is responsible for patrolling, maintaining, and managing the facilities for the Santa Cruz Harbor including law enforcement, search and rescue, maintenance and dredging. As the lifecycle of their previous vessel approached, the District was able to secure funding for a new Moose Boat.On January 24, representatives from the District collected their new boat from Moose Boats in Vallejo, Calif.

25 Feb 2022

Turkey Can't Stop Russian Warships Accessing Black Sea, Says Foreign Minister

©skiminok/AdobeStock

Turkey cannot stop Russian warships accessing the Black Sea via its straits, as Ukraine has requested, due to a clause in an international pact that allows vessels to return to their home base, the Turkish foreign minister said on Friday.Ukraine has appealed to Turkey to block Russian warships from passing through the Dardanelles and Bosphorus straits which lead to the Black Sea, after Moscow on Thursday launched a full-blown assault on Ukraine from land, air, and sea. Russian forces landed at Ukraine's Black and Azov Sea ports as part of the invasion.