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US Sanctions On Venezuela: Risks For Non-US Persons Concerning Transactions With Pdvsa

In Circular No. 04/19 of February 6, 2019, Members were informed that the United States had imposed new and additional sanctions on the Government of Venezuela through the designation of Petroleos De Venezuela SA (PdVSA) as a Specially Designated National (SDN). On January 28, 2019 the US designated PdVSA as an SDN and added it to the US SDN List. The immediate effect of this action was that US persons were generally prohibited from engaging in any transactions with PdVSA (subject to several general licenses) and that all of PdVSA’s ...

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What is protection and indemnity insurance?

Protection and indemnity (P&I) liability insurance is specifically designed to address the unique needs of the marine industry. It covers practically all maritime liability risks associated with the ownership and operation of a vessel, including third-party risks for damage caused to cargo during transit, risks of environmental damage such as oil spills and pollution, war, and political risks. There’s no standard underwriting form when it comes to P&I insurance. Rather, underwriters will tailor bespoke P&I coverage for each insured, based on the nature and character of the risk, and the ...

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South Africa – Effective implementation of IMO 2020 0.50% Sulphur Cap

The South African Maritime Safety Authority (SAMSA) has recently published two Marine Notices: a) No. 8 of 2019, to advise of the global implementation of the MARPOL Annex VI limit of 0.50 mass per cent concentration (0.50% m/m) sulphur content in fuel oil, for all ships, from 1 January 2020; and b) No. 9 of 2019, which provides a standard format for reporting fuel oil non-availability as provided in regulation 18.2.4 of MARPOL Annex VI that may be used to document if a ship is unable to obtain compliant fuel ...

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Bunker quality, safety management & early intervention top the agenda at North P&I Greek seminar

North P&I Club put bunker quality issues and safety management centre-stage at its annual seminar for the Greek shipping community, held last week at the Yacht Club of Greece in Mikrolimano, Piraeus. North’s Colin Gillespie and John Southam spoke to the delegates on the evolving nature of safety management and the emergence of Safety Management 2.0.Arguing that a systems-based approach to safety that relies on processes and checklists is no longer sufficient, Colin and John explained the importance of a new approach to safety that embraces other vital elements, including ...

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The Swedish Club: Continuing to Deliver Excellence in a Challenging Market

At the first quarter 2019 Board meeting, The Swedish Club reported that it had continued to deliver robust underwriting performance and preserve strong capital adequacy in 2018, amid challenging market conditions. A combined ratio of 99% was achieved. The investment was very volatile with the equity markets in free fall during December 2018. As a result, a negative investment return of -1,6% was booked at the end of December. Profits on the Underwriting side covered, in part, the investment loss. However, the overall result came to a deficit of USD ...

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North P&I Club’s Captain Savraj Mehta honoured with Indian National Maritime Day Award

India’s National Maritime Day Celebrations Committee has conferred the Eminent Overseas Maritime Personality Award on North P&I Club’s Chief Underwriting Officer, Captain Savraj Mehta, on the occasion of the 56th National Maritime Day Celebrations 2019. The Eminent Overseas Maritime Personality Award recognises and honours individuals for their sustained and outstanding contribution to the maritime sector. Paul Jennings, CEO of North P&I Club, Chairman of the International Group of P&I Clubs, and Guest of Honour at the National Maritime Day Celebrations, commented, “I’ve had the pleasure of knowing Savraj for nearly ...

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ITIC says simple checks will defeat shipping industry fraudsters

International Transport Intermediaries Club (ITIC) says ship brokers and agents are among those most at risk of exposure to fraud in the shipping industry, and urges them to carry out simple checks in order to protect themselves. In the latest issue of its Claims Review, ITIC cites the case of a ship broker which received an emailed freight invoice from an owner for $120,000. The bank account detailed in the invoice was the same as that previously used by the owner but, several hours later, a further email was received, ...

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Cargo Securing for Roll Trailers (MAFIs)

The Club continues to receive claims in respect of cargo shifting due to inadequate securing where roll trailers have been used. This can either be inadequate securing of the load to the trailer or inadequate securing of the trailer to the vessel, or a combination of both.   Common failings found include: • The angle of lashings between the vessel and the cargo to prevent either tilting or sliding, being outside of the effective range. • No lashings between the cargo and the trailer. • No lashings between the cargo ...

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Russian GPS spoofing threatens safety of navigation

A recent report by the non-profit analytic group C4ADS shows Russian jamming and spoofing of GPS signals is more extensive than previously thought. After the completion of a year long investigation, the report ‘Above Us Only Stars – Exposing GPS spoofing in Russia and Syria’ has been produced, notably highlighting that ‘GNSS attacks are emerging as a viable, disruptive strategic threat.’ Spoofing is the process involving a GPS being made to display false information deliberately without the knowledge of the user. The report also raises awareness to ‘smart jamming’ – ...

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The final countdown…the 2020 sulphur cap

The cap means that the sulphur content of fuel oil used on board commercial ships trading globally must not exceed 0.50% m/m. This is a reduction from the current global limit of 3.50% m/m that applies outside of designated emission control areas (ECAs). However, the 0.10% sulphur limit shall continue to apply inside ECAs and for ships at berth in EU ports. Ships can meet the 2020 sulphur cap requirement by using: conventional compliant fuel such as sulphur controlled distillates or residual fuel oils; alternative fuel types that meet the ...

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Condition Survey Requirement For Tankers Carrying Heavy Fuel Oil (HFO) As Cargo

As part of a concerted industry effort to ensure higher ship standards, the International Group of P&I Clubs continues to implement survey triggers for seagoing vessels of 10 years of age or more carrying HFO. As a consequence, all sea-going vessels aged 10 years or more which have carried heavy HFO as cargo within the previous 12 months will be subject to condition survey, unless: • the vessel has undergone a P&I club condition survey during the previous 12 months; or • the vessel has undergone a Special Survey during ...

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US Sanctions – Further Advisories on Syria & DPRK

Further to our News Item of 6 December 2018, OFAC has released two further advisory notices concerning sanctions against Syria and North Korea (DPRK). The Syria advisory once again warns in the strongest possible terms against the supply and carriage of petroleum cargoes to the Syrian Government and any other entity on the SDN list, making it abundantly clear that the U.S. authorities will aggressively pursue any entity – regardless of their location – whom they suspect of undertaking sanctionable activity. A copy of the latest advisory can be found ...

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Recent US Government Advisories Concerning Iran, North Korea And Syria

The US government has recently issued the attached advisories in regard to trade involving Iran, North Korea and Syria. These extensive documents are believed to speak for themselves, and are circulated to Members for their general information, and action as appropriate. Your Managers, in conjunction with initiatives being taken by the American Club’s colleagues within the International Group, will continue to monitor developments concerning sanctions which apply to trade with Iran, North Korea and Syria, and inform Members accordingly. Members are reminded that, pursuant to American Club rules, there is ...

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Volcafe: the UK Supreme Court rules on the burden of proof in cargo claims

Carriers should ensure that they implement solid and diligent record-keeping routines of what is declared and known about the specific cargo to be carried and of each step taken to care for the cargo. This includes evidence of market practice for the storage and carriage of moisture absorbing cargoes. Volcafe Ltd and another v Compania Sud Americana de Vapores SA ([2018] UKSC 61) concerned a cargo of coffee beans shipped in containers from South America to North Europe. The coffee beans were stuffed in unventilated containers by stevedores contracted by ...

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West of England: Preparations for Brexit

Being domiciled in Luxembourg, the Club will not be affected by Brexit in its operations with Members and brokers in the European Union. With regard to the UK, the Club, whose branch in London is registered under the Temporary Permissions Regime established by the Bank of England, will be able to continue underwriting UK risks even in the event of a “no-deal” Brexit. Source: West of England

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