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Malta: Flag Injunctions: Practical Alternative To Ship Arrests

Located in the heart of the Mediterranean and on the rhumb line between Gibraltar and the Suez Canal, Malta has long been regarded as a hot spot for ship arrests. Maltese law is straightforward in terms of who has a right to arrest and which claims may be secured by means of an arrest. Consequently, creditors can pre-assess and pre-determine whether they can proceed with a ship arrest in Malta. Further, local arrest procedures are quick, efficient and inexpensive meaning that a creditor monitoring or tracking a debtor’s vessel would ...

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Ince further strengthens global shipping team with the announcement of new Senior Partner Julian Clark

Ince is pleased to announce the appointment of Julian Clark, former Head of Global Shipping at Hill Dickinson LLP, as the new Senior Partner of Ince. In his new role as Senior Partner Julian will focus on further cementing Ince’s position as a global leader in shipping law, as well as working with the incumbent team to develop Ince’s and the wider Group’s legal services offering globally. Julian is a well-known and highly respected figure in the shipping industry, with more than 30 years of experience in litigation, arbitration and ...

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WFW Advises Cmbfl On US$93.7m Sale And Leaseback Transaction With Star Bulk

Watson Farley & Williams (“WFW”) advised China Merchant Bank Financial Leasing (“CMBFL”) on a US$93.47m sale and lease back transaction with NASDAQ-listed Star Bulk Carriers Corp (“Starbulk”). The proceeds of the transaction were used to finance the cash consideration in a share and cash transaction for the acquisition of eleven dry bulk vessels from Delphin Shipping LLC. Founded in 2008, Shanghai-based CMBFL provides financial leasing solutions to large, medium and small businesses across China. It is a subsidiary of China Merchants Bank, the first share-holding commercial bank wholly owned by ...

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Amendment of Ukrainian legislation relating to ballast waters inspection

Please be informed that in third quarter of 2019 year significant changes of Ukrainian legislation, governing inspections of ballast waters, their sampling and analysis have taken place. In particular, on: – 17th of July, 2019, Procedure for cooperation between the State Enterprise “Ukrainian Sea Ports Authority” and the State Ecological Inspection on facilitating compliance with the law on natural environmental safety, in case of detecting the cases of contaminant discharge from vessels (floating craft) within the sea port water area was approved by the Resolution of the Cabinet of Ministers ...

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WFW advises Zeaborn on joint venture with MPC Capital Group

Watson Farley & Williams (“WFW”) advised the Bremen-based Zeaborn Group (“ZEABORN”) on the formation of a joint venture with the MPC Capital Group (“MPC”). Under this joint venture, ZEABORN and MPC will combine their global activities for the chartering and commercial management of 160 container and bulk carriers. The joint venture will operate under the name “Harper Petersen” which ZEABORN already uses for its activities in this area. ZEABORN contributes its relevant companies in Hamburg, Hong Kong and Singapore into the joint venture. MPC adds its active companies using the ...

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Scrubbers and fuel profit share clauses

From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a maximum limit of 3.5% to a maximum limit of 0.5% (the limit in emission control areas remains at 0.1%). Regulation 4 of MARPOL Annex VI permits equivalent methods of compliance provided such methods are at least as effective in terms of emissions reductions. Whilst it is up to individual port state control and flag states to implement and enforce MARPOL Annex VI, the ...

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Technology, geopolitical uncertainty and environmental regulations will force change throughout the shipping industry

Global law firm Reed Smith yesterday hosted a panel of shipping experts to discuss the issues having the biggest impact on the maritime industry. As part of London International Shipping Week, representatives from a cross-section of the industry took part in a lively debate on international trade and the wider industry including technology, environmental issues, sanctions and geopolitical uncertainty. The panel members who took part in the event at Reed Smith’s Broadgate Tower offices in Shoreditch comprised: Nick Shaw, executive officer of International Group P&I and former global head of ...

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Italy: The Proper Management Of The Waste Produced By A Breakdown On Board A Ship

The Court of Justice of the European Union, by deciding the case C-689/17, dealt with the issue of the proper classification of the “waste” produced by a breakdown on board a ship. All waste intended to be moved between the Member States of the European Union, and outside the European Union, have to be follow the specific procedures laid down in the Regulation (EC) No 1013/2006 [14] on shipments of waste (hereinafter, the “Regulation”). In case of particular waste (i.e. waste intended for disposal or for recovery), articles 4 and ...

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Expert debt capital markets Partner joins WFW London

Watson Farley & Williams (“WFW”) is delighted that highly regarded capital markets partner Simon Ovenden has joined the firm’s London office today. Prior to joining WFW, Simon was head of Simmons & Simmons’ London Debt Capital Market Group and also previously led Cleary Gottlieb’s English law capital markets practice. With over 30 years’ experience of debt and equity capital markets transactions, Simon advises both underwriters and issuers (corporate and sovereign) across the full spectrum of capital markets products. Simon’s practice has been focussed on European, Asian and emerging markets, including ...

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Shipping’s Decarbonisation: new opportunities for financiers

If the shipping industry were a country on its own, it would be the sixth largest greenhouse gas emitter worldwide. Economic and regulatory pressures, including the much-discussed IMO 2020, have been building up and there is no question that it is time for all maritime stakeholders to start preparing for new decarbonisation challenges. In this blog we explore an internal pricing mechanism and an external collaboration, which each provide new opportunities for financiers to aid and profit from decarbornisation initiatives. The main obstacle to industry-wide decarbonisation lies with the industry’s ...

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WFW expands NYC corporate and securities practice with new Partner hire

Watson Farley & Williams (“WFW”) is delighted to announce that maritime corporate and securities professional Will Vogel has joined the firm as a Partner in New York City. Prior to joining WFW, he was an Associate at Seward & Kissel LLP in their New York office. Will has a decade’s experience representing leading public companies in the maritime sector on all their US corporate and securities matters and has advised on a broad range of significant capital markets transactions, including IPOs and follow-on public offerings, private placements and 144A/Regulation S ...

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HFW To Boost Market-Leading Shipping Practice With Singapore Partner Hire

Global, sector-focused law firm HFW is boosting its market-leading shipping practice with the hire of Singapore partner Christopher Metcalf. Christopher is a dry shipping expert and is ranked by The Legal 500 and Chambers as one of Singapore’s top shipping lawyers. He will join HFW in September from Clyde & Co, subject to local regulatory approvals. This continues HFW’s significant strengthening of its Singapore shipping practice, following the recent hire of renowned former shipbroker Chris Jones and the hire of ship finance partner Siri Wennevik in 2018. HFW also relocated ...

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How and when to offset claims against freight

In 2014, the Chinese energy giant Sinopec was engaged for the modernisation of the oil refinery at Atyrau in Kazakhstan, near where the Ural river drains into the Caspian Sea. Sinopec engaged DHL to arrange the transport of refinery units from China. DHL sub-contracted Globalink for the sea and road leg from the Black Sea port of Novorossiyk through the Ural-Caspian canal to the refinery. Their agreement was entitled “Freight-Forwarding Services Contract”, Globalink was referred to as the “Forwarding Agent”, and they were to be liable for any delay in ...

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New Belgian Maritime Code approved

The globalization of shipping and the numerous legislative initiatives introduced within the European Union have increased the need for an updated legal framework on shipping law in Belgium. Since 2007, a Belgian Royal Commission has been reviewing and preparing the modernization of Belgian shipping law, as the legislation based on the Commercial Code dates back to the 19th century. Twelve years after the Royal Commission’s establishment, and with the Council of Ministers approving the draft law and the Council of State adjusting it, parliament approved the new Belgian Maritime Code ...

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Hill Dickinson sponsors attendance at the Maritime Law Association of South Africa AGM and Conference

Hill Dickinson was delighted to sponsor the attendance at the recent Maritime Law Association of South Africa AGM and Conference, of Advocates Minikazi Mtati and Byron Jackson, both in their first year at the Durban bar. The conference was held at the Drakensburg Sun from 16th to 18th August. A Certificate of Appreciation was accepted from Minikazi Mtati by Ian MacLean, a partner and master mariner from the Hill Dickinson Singapore office, who spoke at the conference on Major Container Vessel Fires: Contractual and Practical Issues. Gavin Fitzmaurice, the President ...

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