The new limits that apply under the LLMC 96 are expected to enter into force 36 months from the date of adoption, on 19 April 2015, under the tacit acceptance procedure.
Explore BIMCO's GUARDCON contract for employing security guards on vessels
TIP 7 - Clean-up of Oil From Shorelines
16/03/2012
The International Tanker Owners Pollution Federation statistics demonstrate that the majority of ship-source oil spills occur close to the coast.
Pollution exposure
16/02/2012
Whilst the additional premium rates required for tankers carrying persistent oil in United States waters fell by 30% this year, the exposure to environmental claims remains highly significant. Furthermore, it can be difficult to follow the complexities and differences arising from different federal and state laws. The Club has two environmental specialists to support its Members in dealing with this challenging area of liability.
Iran and Syria - Sanctions Update
27/01/2012
The latest sanctions against Iran have been much publicized and are set against a backdrop of Iranian officials threatening to escalate the situation further by blocking the Strait of Hormuz
South Korea joins UN sanctions against Iran
09/12/2011
In accordance with the United Nations Security Council Resolutions, the sanctions/measures by international society in particular, the US and EU, which have raised the level of restrictions in an effort to restrict the Iran's suspected nuclear development, the Korean Government has decided to join the international sanctions against Iran.
Australia toughens pollution laws
01/12/2011
Last week the Australian government passed a bill extending penalty provisions for pollution incidents in their waters. As well as expanding existing offence and civil penalty provisions in the Navigation Act 1912 (Navigation Act) and the Protection of the Sea (Prevention of Pollution from Ships) Act 1983 (PPS Act). The amendments include new provisions that are expected to take effect from the 18th December 2011.
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.
Delay in China OSRO listing
10/11/2011
The issue of lists of all approved oil spill response contractors in Chinese ports by China's MSA, and due for publication this October, has been postponed,
The Bribery Act 2010
03/11/2011
The UK's Bribery Act 2010 (the "Act") came into force on 1 July 2011 and introduces a new set of criminal offences for bribery.
The Effect of Insolvency on a Charterparty
03/11/2011
The insolvency of a party, the commencement of insolvency-related proceedings or the appointment of liquidators or receivers will not on its own amount to a repudiation or a renunciation of a contract subject to English law (see for example Re Agra Bank (1867) LR 5 Eq 160).
Council Regulation (EU) No
Death at Sea - Worldwide
09/09/2011
In a previous incident, where the master of a vessel obtained professional medical advice on the storage of a deceased crewmember while at sea, the master was provided with incorrect.
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.
MSRC's amendment to its service agreement includes a "dispersant addendum". This addendum introduced liabilities on the vessel owner which fell outside the scope of club cover.
The Inter-Club New York Produce Exchange Agreement, generally referred to as the Inter-Club Agreement (ICA), has provided a relatively simple mechanism for swiftly and fairly apportioning liability for cargo claims arising under New York Produce Exchange Form (NYPE) or Asbatime charter parties
New U.S. Sanctions against Syria
25/08/2011
On the 18th August 2011, the US Government issued an Executive Order that blocks property of the Syrian government, including all entities controlled by the Syrian government.
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.
The ports of Chiba, Kashima, Onahama and Sendai have reported damage and interruption to a number of their terminals. Individual details on terminal damage and/or interruption as at 13th April 2011 are set out below.