Interwits

Cross-Border Arbitration and Sanctions: Key Insights from O v C [2024] EWHC 2838 (Comm)

Finance, Shipping /

We delve into the recent English High Court decision in O v C ([2024] EWHC 2838 (Comm)), which provides guidance on handling disputes involving U.S. sanctions in an arbitration context under English law. The judgment highlights the challenges faced by parties navigating U.S. sanctions while managing arbitration proceedings arising from disputes under charterparties governed by […]

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The Risk of Cargo Liquefaction: Insights from the IMSBC Code Amendments

Shipping /

Cargo liquefaction poses significant risks to maritime safety, particularly for vessels carrying solid bulk cargoes. In June 2023, the IMO’s Maritime Safety Committee adopted Resolution MSC.539 (107), introducing the latest amendments (07-23) to the International Maritime Solid Bulk Cargoes (IMSBC) Code. These amendments, which will enter into force on January 1, 2025, provide critical guidelines

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“KNOCK-FOR-KNOCK” CLAUSES IN ENERGY INVESTMENTS

Energy /

Energy investments require significant capital and involve multiple parties in the construction and operation of facilities. Due to the high risks inherent in these operations and the potential for substantial legal liabilities, contracts in the energy sector often include “knock-for-knock” clauses. Understanding Knock-for-Knock Clauses Knock-for-knock clauses can vary in their specifics, but generally, they establish

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Detention Damages and Compensation at Loading and Unloading Ports

Contracts /

In voyage charter parties, the shipowner is not obligated to keep the ship in port for loading or unloading beyond the agreed laytime, or beyond the “demurrage” period. However, if the shipowner continues to wait, any damages arising from this delay must be compensated under certain conditions. After the laytime (at loading or unloading ports)

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INTERWITS

GENCON 2022 Series

Contracts /

Understanding Clause 16 of Gencon 2022: Suspension and Termination Background The Baltic and International Maritime Council (BIMCO) recently published its own standard charter party form for voyage charters, GENCON 22. While it was originally targeted to be introduced in 2020, due to the Covid-19 global pandemic, launching of the main contract form for the voyage

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SHIPSALE 2022: BIMCO’s new ship sale and purchase contract has been introduced

Contracts /

BackgroundThe Baltic and International Maritime Council (BIMCO) recently published its own standard contract form for ship sale and purchase transactions, SHIPSALE 22. SHIPSALE 22 is designed to be used in the industry as a standard Memorandum of Agreement (MOA) for ship sale and purchase. FormatIt consists of two parts. The Part I has a box

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