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Panama Ship Registration: A Game-Changer for Asian Shipowners

Asia is a powerhouse in global trade and shipping. For shipowners in this region, Panama offers one of the most versatile and cost-effective solutions for ship registration. As the world’s largest ship registry, Panama combines ease of registration with robust legal and tax benefits. Key Advantages of Panama’s Flag Global Recognition Over 50% of the world’s fleet is registered under the Panamanian flag, ensuring global acceptance. Flexible Ownership Structures Registration is open to individuals and companies of any nationality. Tax Efficiency No income or corporate taxes on maritime revenues. Rapid ...

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SFL – Ruling from Oslo District Court in the Seadrill Legal Case

SFL Corporation Ltd. today received the ruling delivered by the Oslo District Court regarding the legal case between SFL’s rig-owning subsidiary and subsidiaries of Seadrill Ltd. (“Seadrill”) following the redelivery of the drilling rig Hercules to SFL in December 2022. The court today issued a judgment in favor of SFL’s subsidiary where certain subsidiaries of Seadrill were ordered to pay SFL an amount equivalent to a total of approximately $48 million in compensation, including late payment interest and legal cost, as a result of its breach of contract upon redelivering ...

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Ship waste, marine casualties and regulatory requirements as to shipment notification and consent

On 5 February 2025, the UK Supreme Court will hear the appeal in the MSC Flaminia. In brief, following a fire and explosions on board the Flaminia, the owners incurred various salvage and other expenses which they sought to claim from the time charterers, who were found liable for the owners’ losses arising out of the fire and explosions. The time charterers sought to limit their liability to the owners. The Admiralty Court and Court of Appeal found that they could not do so. The Supreme Court will now decide ...

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Stephenson Harwood advises Gearbulk on refinancing project and ship transfers

Law firm Stephenson Harwood LLP has advised Gearbulk on the restructuring of its finance arrangements in connection with a corporate reorganisation taking place in January 2025 which sees one of its existing shareholders, Mitsui O.S.K. Lines (MOL), increase its stake in Gearbulk to 72%, and a reorganisation of Gearbulk’s business operations to be wholly focused within the open-hatch segment. The project also included transferring of the ownership of Gearbulk’s fleet of open-hatch vessels to a new shipowning vehicle established Norway in order to consolidate the group’s vessel ownership, technical and ...

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Offshore Sync Shipping – New Business Opportunities on the Horizon

The expansion of offshore wind energy is one of the central projects of the energy transition at both German and European levels. In Germany alone, the installed capacity of offshore wind turbines is set to grow to at least 30 GW by 2030 and 70 GW by 2045. In the EU, the target is even greater at 111 GW by 2030 and 317 GW by 2050. These targets make close cooperation between the energy, infrastructure and transport sectors indispensable. In particular, the close link between offshore wind energy and the ...

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White & Case advises JERA on long term charter for newbuild LNG carrier

Global law firm White & Case LLP has advised JERA Co., Inc. (JERA) on a long term time charter party for a newbuild liquefied natural gas (LNG) carrier executed between Mitsui O.S.K. Lines, Ltd. (MOL) and LNG Marine Transport Limited (LMT). “By securing this long term charter contract for a state-of-the-art LNG carrier, JERA further fortifies its LNG supply chain stability,” said White & Case local partner Michael Richter, who co-led the Firm’s deal team. “This deal underlines our Firm’s extensive experience and expertise in the energy sector, particularly advising ...

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Chief Engineer of Vessel Guilty of Obstruction and Violating Ship Pollution Prevention Laws Sentenced to 3 Months Imprisonment

United States Attorney Duane A. Evans announced that FEI WANG “WANG,” age 38, pled guilty on January 24, 2025 to violating the Act to Prevent Pollution from Ships (APPS) and for obstructing proceedings, and was sentenced during the same proceeding to 3 months in prison, 3 years of supervised release and payment of a $200 mandatory special assessment fee. WANG, a Chinese national, was the Chief Engineer of the M/V ASL Singapore, a Chinese-owned bulk carrier registered in Liberia and engaged in trade in the United States. The ASL Singapore ...

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Norton Rose Fulbright advises Bibby Marine on financing to support construction of zero emission vessel

Global law firm Norton Rose Fulbright, working in conjunction with leading Spanish law firm Uría Menéndez, has advised Bibby Marine on a financing package with HSBC UK to support the development of its previously announced zero emission electric Commissioning Service Operation Vessel for servicing offshore windfarms. The multi-million euro financing made available by HSBC UK is backed by Cesce, the Spanish Export Credit Agency. HSBC acted as sole ECA coordinator, mandated lead arranger and facility agent. The vessel, which will now be built at Astilleros Armon in Vigo, Spain, will ...

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HFW Continues To Strengthen Leading Ports & Terminals Practice With Senior Real Estate Hire

Global, sector-focused law firm HFW has continued to strengthen its market-leading ports & terminals practice with the hire of senior real estate expert Christian Taylor in London. Christian has been a law firm partner for 20 years and advises clients across the ports & terminals sectors on a wide range of issues, from landlord and tenant matters to financing and development. Christian joins HFW as a Consultant, having previously spent more than five years as a partner at the firm in London and Dubai. Jeremy Shebson, Managing Partner, HFW: “Christian ...

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Prominent Chinese Shipping Companies Added to US “Non-blacklist”13 January 2025

Overview On January 7, 2025, the outgoing administration of US President Joe Biden added several prominent Chinese companies to a list of “Chinese military companies” maintained by the Department of Defense (“DoD List”). The DoD List is not a “blacklist,” “sanctions list” or “export control list,” and being added to the list has no legal ramifications. Department of Defense List The DoD List is mandated by Section 1260H of the National Defense Authorization Act for 2021 (Pub. L. 116-283), which requires the Secretary of Defense to identify and publish an ...

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A new year ahead for shipping – environmental and regulatory compliance

The two main legislative developments in the EU which will have an impact for many in the industry in the year to come are: the expansion of the EU ETS and the introduction of the FUEM. EU ETS From January 2025, the scope of the EU ETS will expand further to include offshore vessels over 5,000 GT which call at EU ports. New challenges also remain for the vessels which have been subject to the EU ETS since 2024 in the next stage of compliance with the scheme: the emissions ...

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Are autonomous ships the future of maritime shipping for supply chains?

Autonomous ships have the potential to significantly enhance the efficiency of global supply chains by streamlining operations, reducing human error and optimizing routes. These vessels, equipped with advanced navigation systems and artificial intelligence (AI), can operate around the clock without the need for rest periods, allowing for faster and more reliable deliveries. By eliminating the need for large crews, autonomous ships also reduce operational costs and free up space for additional cargo. Additionally, their ability to automatically adjust routes based on real-time data, such as weather patterns or port congestion, ...

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Shipping law: The one-year time bar and trade finance

This article will reflect on the recent decision of the Supreme Court of the United Kingdom issued on 13 November 2024 within Fimbank Plc v KCH Shipping Co Ltd (“The Giant Ace”). An overview of the Hague-Visby Rules will provide analysis based upon recent case law in the United Kingdom, and discuss the implications for the trade finance sector. In the recent case of The Giant Ace, a trade finance bank was prevented from exercising a claim for mis-delivery against the carrier of the cargo. The bank was the lawful ...

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Re-examining the right to force a cargo sale

In the recent decision in Lord Marine Co SA -v- Vimeksim SRB DOO (Lord Hassan) [2024] EWHC 3305 (Comm), which the court has described as a paradigm case in which a sale should be ordered, the court has further considered its powers in support of arbitral proceedings and, specifically, its ability to order the sale of goods to preserve assets. In this instance, the shipowner applied for the sale of cargo liened to secure claims against their charterers for unpaid freight. The cargo in question was perishable in nature and ...

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Issues to Watch: Potential Impacts of the Trump Administration on Marine Terminal Operators

As we move into 2025 and the Trump Administration prepares to take control of the government, marine terminal operators are anxiously and optimistically awaiting resolution of the labor disputes between terminal operator management, represented by the United States Maritime Alliance (USMX), and the 45,000 union dockworkers on the U.S. East Coast and Gulf Coast ports, represented by the International Labor Association (ILA). A key remaining battleground in the labor disputes – aside from pay and benefit issues, which appear to be largely resolved by a 62 percent wage increase after ...

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