Limit on Special War Risks P&I cover for 2014 policy year remains US$500 million.
Circular 1/14: 2014 Policy Year
28/01/2014
Individual Club retention to remain at $9 million; The Group Pool retention increased to $80 million; Hydra's coinsurance share of the first layer to remain at 30 per cent; Group Pool to remain in three layers but adjusted for the increased Pool retention; 5 per cent of the market reinsurance placed in two layers excess of $100 million to $1.1 billion on a three year fixed basis; US Voyage surcharge reduced to nil; Reinsurance rates per gross ton increased for all ship categories
During November and December 2013, CIQ, the Chinese authority in charge of cargo inspection and quarantine, has rejected over 600,000 tons of corn exported from the US on account of the cargo containing MIR 162.
The easing of U.S. sanctions may have the most significant impact on the maritime community is the permissible trade in Iranian petrochemicals, as well as the permissible trade in Iranian crude oil to the six countries permitted to continue their purchases of Iranian crude. However, at this point there is no guarantee that the easing of sanctions will continue beyond 180 days, and, therefore, those in the maritime community should not enter any long-term contracts based on the relief granted on January 20. Further, it should be noted that if a permissible activity under the eased sanctions is initiated within the JPoA period, but is not completed until after that period expires on July 20, 2014, the activity will be subject to sanctions.
NTVRP Implementation Date - 30 January 2014; Deactivation of Old Non-tank Vessel Response Plans on 31 January 2014
The United States government has published its initial advices on the temporary, partial suspension of sanctions relating to the trade in Iranian oil, petroleum products and petrochemicals and associated services such as insurance.
A relaxation of current EU and US sanctions from 20th January for trial six month period will enable the Club to provide cover for certain voyages carrying Iranian oil and petroleum products as well as petrochemicals. Members are recommended to review these changes carefully and consult their relevant Competent Authority and the Club where appropriate before engaging in potentially sanctioned activity.
Circular 26/13: Iran Sanctions Update
17/01/2014
The Resolution for consideration at the SGM on 16th January 2014 (ref
Council Regulation (EU) No 267/2012 of 23 March 2012 concerning restrictive measures against Iran gives effect to the measures provided for in Decision 2010/413/CFSP.
Iran Sanctions Update - 15th January 2014
15/01/2014
Following the agreement reached in November last year between Iran and representatives of USA, UK, China, France, Russia & Germany, the Club reminded Members that a formal change in EU, UK and US laws would be needed to provide shipowners and their insurers with relief from existing prohibitions - and that until such changes were made, the effect of sanctions on Club cover would remain unaltered.
Circular 24/13: Revised Terms of Entry 2014
09/01/2014
The 'US Oil Pollution Clause' is deleted reflecting the reduction of US voyage additional premiums to nil. This circular refers to previous circulars 8/12 and 4/13
China SPROs Updated IG FAQs - 8 January 2014
08/01/2014
The International Group FAQs in respect of China's pollution regulations have been revised at 8th January 2014 and replace the previous edition
In June 2013, the Canada Border Services Agency (CBSA) announced that carriers calling at Canadian ports will require a new carrier code to participate in its electronic system for advising cargo information on incoming voyages before arrival. We have since learned that the original deadline for compliance was extended to the 30th January 2014 in the CBSA's Customs Notice 13-020.
A Special General Meeting of The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited (UKB) will be held on the 16th January 2014 in Bermuda; The papers for this meeting are enclosed;
The Club has been made aware of a Member being fined for the possession of an unauthorized satellite phone on board one of their vessels.
OUTLINE:
The Alternative Planning Criteria (APC) for non-tank vessels visiting Western Alaska are now published at
Obituary: Mr S. Venkiteswaran
27/12/2013
'Venky' Venkiteswaran (S. Venkiteswaran) who died on 21st December was a most distinguished lawyer (a Senior Advocate or QC) who worked for the transport clubs' interests in India for over 40 years. A brilliant lawyer and charismatic figure, he was the confidante and advisor to many in the Indian transport world and his advice was equally sought by the Government and the Director-General of Shipping.
The latest episode in Vicki's odyssey as a young merchant navy cadet comes from Louise Livingston, senior claims director and head of Thomas Miller Americas' San Francisco office.