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May 2021 marks the reinstatement of the Cyprus-Greece sea connection

Cyprus and Greece are well known active seafarers from ancient times when they dominated the waters of the Mediterranean Sea. They used ships not only in warfare but mostly in trading and travelling, thus creating colonies and expanding their financial and cultural exchanges with other civilisations and countries. In the early 1960s, Cyprus and Greece launched their sea connection with ships arriving from the port of Piraeus to the ports of either Limassol or Famagusta. Ships used to continue their trip to Haifa, in Israel, possibly to Beirut in Lebanon ...

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Empowering women in shipping

Although shipping has been historically male-dominated, the number of women nowadays who belong in the maritime industry is about 23,000 worldwide. It might look like a significant number but it is actually only 2% of the world’s maritime workforce. This number raises many questions as to why women do not choose the maritime industry to build a promising career. Perceptions that this kind of job requires skills and strength that only men have is the most popular reason why women are not encouraged to enter the shipping arena. Sexual harassment ...

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Isle Of Wight Oil Tanker ‘Hijacking’ Case Dropped Against Seven Men

Seven men, including two who had already been charged, will face no action over a suspected hijacking of an oil tanker off the Isle of Wight. Special forces stormed the Nave Andromeda on 25 October after the crew raised concerns about stowaways. Matthew Okorie, 25 and Sunday Sylvester, 22, had been charged with conduct endangering ships. But prosecutors dropped their case after evidence analysis “cast doubt” on whether the tanker was put in danger. The Crown Prosecution Service (CPS) said initial reports had indicated there was a “real and imminent ...

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Bermuda: Provision Of Principal Representative Services For Bermuda Registered Ships And Yachts

Owners of a Bermuda flagged ship or yacht who are not resident in Bermuda, or do not otherwise have their principal place of business in the jurisdiction, are required to appoint a local Principal Representative in Bermuda in connection with the vessel. Conyers is able to provide Principal Representative services in connection with any Bermuda ship or yacht owned by a non-resident owner. Requirement for Principal Representative In order for a ship or yacht to be registered in Bermuda, it must be at least majority-owned by a person qualified to ...

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Norton Rose Fulbright promotes 47 lawyers to partner and director worldwide

Global law firm Norton Rose Fulbright today announced that 47 of its lawyers received promotions to partner in locations around the world and director in South Africa, effective January 1, 2021. The promotions span 11 of Norton Rose Fulbright’s global practice groups: litigation and disputes (14 lawyers); corporate, M&A and securities (10); banking and finance (9); employment and labor (4); bankruptcy, financial restructuring and insolvency (3); real estate (3); tax (2); data protection, privacy and cybersecurity (1); intellectual property (1); projects (1); and risk and compliance (1). The firm promoted ...

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WFW further expands Maritime Disputes practice with new London Partner hire

Watson Farley & Williams (“WFW”) is delighted to announce that well-known maritime disputes expert Mike Phillips has joined the firm as a Partner in London. He moves from Stephenson Harwood, where he has been a partner for 12 years, six of which as head of their Marine & International Trade group. Mike specialises in maritime disputes, including shipping, international trade, shipbuilding and offshore construction, and contentious ship finance. His clients include banks, shipowners, shipyards, traders and P&I clubs/insurers who come to him for his knowledge, experience and commercial acumen. On ...

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Bliss for shipowners! Damages may be claimed in addition to demurrage for voyage charterparty delay

In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resolved a much-debated question, answering that an owner can, under certain circumstances, recover damages in addition to demurrage for delay to a vessel under a voyage charterparty. Background The dry bulk carrier, Eternal Bliss, shipped a cargo of soybeans from Brazil to China on an amended Norgrain voyage charterparty form that provided for the Owners to earn demurrage if the cargo operations exceeded the laytime allowed by the charterparty. The vessel arrived at the ...

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Tackling the scourge of container ship fires

The proliferation of serious fires onboard container ships in recent years has shocked the shipping industry. Andrew Gray considers the causes and impact of such fires and the urgent efforts being made by a wide variety of stakeholders to solve this seemingly intractable problem. Incidence of container ship fires Over the last decade there has been a 70% fall in ship total losses. This has been widely credited to long term improvements in ship safety management and loss prevention programmes. Counter to this trend, there has been a substantial increase ...

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Study shows LNG-powered vessels save on interest rates

LNG-powered vessels are likely to find favorable treatment from lenders under the Poseidon Principles, according to a new study by Sea-LNG. Sea-LNG is a multi-sector industry coalition that was founded in 2016 to advocate for the use of LNG over conventional marine fuels. Its members include a diverse assembly, including owners, charterers, brokers, banks, and classification societies, as well as ports, upstream suppliers, infrastructure providers, and original equipment manufacturers (OEM). The Poseidon Principles represent a commitment by leading financiers in the shipping industry to improve the emissions profile of their ...

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Ship mortgages over ships flying the Cyprus flag

According to the Merchant Shipping (Registration of Ships, Sales and Mortgages) Laws of 1963, as amended, which are the main statutes for all matters relating to the registration of ships and related transactions in the Register of Cyprus Ships, a mortgage against a ship flying the flag of Cyprus can be registered at any time after the completion of the vessel’s registration (provisional or permanent) in the Register of Cyprus Ships, or in the Special Book of Parallel Registration. By a registered mortgage, the shipowner can secure a loan or ...

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Adoption of the Chinese Civil Law Code: Key takeaways for the commodities industry

Introduction The new Chinese Civil Code (the “Code”) has been passed by the 13th National People’s Congress on 28 May 2020 and is due to come into force on 1 January 2021. The Code has maintained the structure and main concepts of existing PRC laws, but seeks to enhance existing PRC laws by providing further clarification by way of the detailed articles drafted. The Code consists of 1,260 articles and seeks to regulate the various aspects of civil society, including contracts, torts, private property, etc. The purpose of this article ...

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Sanctions again – and also penalties

Banco San Juan Internacional, Inc. v Petroleos De Venezuela SA (PDVSA)¹ is another case in which the effect of US sanctions has come before the English courts. In this instance, unsurprisingly, the court did not agree with PDVSA that it could rely on sanctions provisions in finance documents to escape its obligations as borrower on the basis of sanctions aimed, in part, at PDVSA. “The case is the latest manifestation of the lack of sympathy with which the English courts treat parties who attempt, without good grounds or contrary to ...

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When words speak as loudly as actions

In SK Shipping Europe PLC v. (3) Capital VLCC 3 Corp and (5) Capital Maritime and Trading Corp (C Challenger) [2020] EWHC 3448 (Comm), the Court held that charterers were in repudiatory breach of charter by redelivering the vessel early. The charterers claimed that they were entitled to rescind the charter because the owners had misrepresented the vessel’s performance capabilities. The Court, however, held that the charterers had affirmed the charter by their conduct and had thereby lost the right to rescind it, even though they had continued to perform ...

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Freight claim in case of premature termination of freight contract

The plaintiff, a fixed-cost freight forwarder, asserted against its principal (the defendant) a freight claim of €190,000 under a multimodal transport contract (road, inland waterway and sea vessel) from Germany to Sweden. The freight contract was only partially executed by the plaintiff, which had commissioned the intervener as sub-carrier with the transport. However, after there had been a dispute with the plaintiff concerning the amount of the freight and the plaintiff had refused to continue the transport at the port of Hamburg without payment of the freight claimed and had ...

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WFW advises Nordea on Exmar LPG US$310m loan facility

Watson Farley & Williams LLP (“WFW”) has advised Nordea Bank Abp, filial i Norge (“Nordea”) on a US$310m revolving credit facility for Exmar LPG BVBA, an Exmar/Teekay joint venture. The loan facility refinanced two existing loan facilities secured on a number of LPG vessels and provides working capital to the owner. The facility was signed on 8 December with first drawdown on 14 December and is secured on 11 LPG vessels registered on Belgian flag. Nordea, DNB Markets Inc and Skandinaviska Enskilda Banken AB (publ) acted as Mandated Lead Arrangers ...

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