Sanctions cause payment confusion This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercise of a force majeure provision in a contract of affreightment in response to the charterer’s difficulties paying …
A force majeure to be reckoned with Read More »
The tanker market seems to be plagued with yet another prolonged period of uncertainty, after the latest developments in Ukraine. In its latest weekly report, shipbroker Intermodal said that “the last 20 days the tanker market is taking another hit of …
Tanker Market Plagued With Uncertainty Read More »
Russia’s invasion of Ukraine will impact seafarer availability to crew the world’s merchant fleet, particularly for officers where supply has tightened, leading to rising wage inflation and higher vessel operating costs. Both Russia and Ukraine have hi…
Russia-Ukraine conflict to drive up seafarer wage inflation and vessel operating costs Read More »
The deadline for compliance with the IMO’s Energy Efficiency Existing Ship Index (EEXI) is looming. Are charterparties flexible enough for the transition phase? How should parties approach the new time charterparties which they are entering into to cat…
Under the lens – BIMCO’s EEXI transition clause for time charterparties Read More »
The newbuilding activity has been growing on a steady pace over the course of the past few weeks, despite ongoing uncertainty. In its latest weekly note, shipbroker Allied Shipbroking said that “newbuilding contract volumes continued on an overall posi…
Newbuilding Orders Edging Higher Read More »