HM Treasury has imposed new financial restrictions against Iran. From 15:00 Monday 21 November 2011, all UK credit and financial institutions are required to cease business relationships and transactions with all Iranian banks, including their branches and subsidiaries, and the Central Bank of Iran. This means that UK credit and financial institutions are prohibited from entering into transactions or business relationships with these entities and continuing existing transactions and business relationships with them, unless licensed to do so by HM Treasury.
A recent meeting of Port officials in Owendo, Gabon finalised details of precautions to be taken in an attempt to counter potential port congestion in Gabon resulting from the expected increase of maritime traffic due to the preparations of the soon to be hosted Africa Cup of Nations.
The UK Treasury has now confirmed that it considers that insurers/reinsurers in the EU are prohibited from providing cover in relation to shipments of crude oil or petroleum products, even where the transportation ban does not apply (because the ships and persons involved are unconnected with the EU).
Armed guards and flag state rules
06/10/2011
Seasonal improvements in weather in the Indian Ocean off the African coast anticipate an increase in pirate activity in the region. Among the questions regularly asked by Members are what the cover and regulatory issues relating to armed guards.
Council Regulation (EU) No
Prevention & Defences against Piracy
23/09/2011
Two new advisories published this week provide up to date guidance for Members on protecting their ships against pirate attacks
Developments in international sanctions
08/09/2011
Both the EU and the United States have announced extension of their sanctions against the Syrian Arab Republic to prohibit the trade, transport or financing of crude oil or petroleum products. Under Rule 5V (Sanctions risks) the Club excludes cover where the provision of cover may expose the Club to a sanction or other adverse action from a competent government.
Sanctions Update: Libya & Syria
07/09/2011
The attached Shipping Alert 11-213 gives updated guidance on both EU and US sanctions in respect of Libya and Syria and is reproduced with the kind permission of Reed Smith.
EU Council Regulation - (EU) No 878/2011 entered into force on 2 September, with new measures to target the importation, financing, transport, insurance and reinsurance of crude oil or petroleum products originating from Syria. The Regulation takes the form of an amendment to an earlier regulation (442/2011) in which the scope of applicability is defined as shown below.
780 - 08/11 - New Customs Regulations - Iraq
19/08/2011
BMP 4
16/08/2011
Version 4 of the
Saudi Aramco has introduced a new practice of sampling ballast water of hydrocarbon tankers that have had one of their last visits to Japan. This action is in line with Saudi Aramco...
777 - 08/11 - Visa Requirements - Nigeria
04/08/2011
Club Members are expressing concern over requirements for cadets, supernumeraries and supercargoes onboard to possess a valid visa when visiting Nigerian Ports...
Armed guards - 21 July 2011
21/07/2011
Despite recent media suggestions, there is no formal white list of 'approved' marine security companies maintained by UK Club. However, there are numerous contracts between our Members and such companies that have been approved, in many cases after amendments suggested by us. Approval of a contract does not mean that we have vetted or approved the company in a wider sense - we haven't.
On the 23rd June, the US Government issued a Joint Statement on Iran Sanctions which added the main provider of Iranian port services, Tidewater Middle East Co, to its Specially Designated Nationals ("SDN") list. The US government has included Tidewater Middle East on the basis that its ports have been used "to export arms or related materiel in violation of United Nations Security Council Resolutions (UNSCRs)". This item was amended on 4th July to explain more specifically the Club's cover in relation to the port operator, rather than the geographic port .
South African Review - June 2011
30/06/2011
Welcome to the first edition of our joint UK P&I and UK Defence Club review for our South African Members. In this review, one of our correspondents gives an overview of stowaway problems, with specific reference to local South African issues. The question of armed guards on-board ship as a counter to piracy is also reviewed on page 7. Whilst not prohibited by P&I cover per se, some difficult issues arise from the implementation of armed guards in respect of firearms regulations.
The Libyan Sanctions Regime - A Review
13/06/2011
On 7 June 2011 the Council of the European Union agreed Council Decision 2011/332/CFSP setting out the Council's intention to add six port authorities to the now extensive list of Libyan companies and individuals blacklisted under the UN asset freeze. This Decision, following on from the UN Resolution of 26 February 2011, further tightens the financial sanctions noose around the Gaddafi regime and those associated with it.
EU sanctions against Syria - May 2011
09/05/2011
COUNCIL REGULATION (EU) No 442/2011 of 9 May 2011 concerning restrictive measures in view of the situation in Syria. This regulation sets out the prohibition of supply of materials and equipment to Syria which may be used for repression of its civilian population. It also provides a list of people and other entities who it identifies as responsible for such acts of repression and thus directly subject to sanction.
Ivory Coast ports closure - 14th April
14/04/2011
Conversation this morning with our colleagues at Budd Abidjan confirmed that Ivory Coast major ports (Abidjan and San Pedro) remained shut for the time being. Activity has not resumed yet and until the calm will come back, it will not be safe for the people to move to the Ports - Furthermore, no ships have entered the port and in this area, no fighting occurred.
From the 1st April this year a new agreement in respect of seafarers' pay and compensation for service in the area off Somalia takes effect. Discussions between the ITF and the Joint Negotiating Group of employers' associations during the course of March arrived at an agreement to maintain the existing High Risk Area off Somalia and create a new Extended Risk Zone into the Arabian Sea and north Indian Ocean.